Formosa Plastics Group will invest US$413 mln in pipeline improvement

Formosa Plastics Group will invest about US$413 mln to improve pipelines at a major oil refinery amid fresh safety concerns after recent blazes. The group plans to work on 1,063 pipelines totaling 1,2266 kilometres (786 miles) at its affiliate Formosa Petrochemical Corp.

For more details on Formosa Plastics Group will invest US$413 mln in pipeline improvement click here

Fire at Formosa expected to have bearish impact on naphtha in Asia

Buying sentiments are expected to turn bearish as the market absorbs news of the pipeline fire at Formosa Petrochemical's Mailiao refinery late Tuesday, as per Platts.
Demand from Formosa, one of thhe biggest naphtha buyers in the region, is expected to remain capped or soften further in the wake of the fire- a further blow to an unsteady naphtha market.

For more details on Fire at Formosa expected to have bearish impact on naphtha in Asia click here

Mitsui Chemicals to restart a 553,000 tpa naphtha cracker at Ichihara plant

Japan's Mitsui Chemicals plans to restart a 553,000 tpa naphtha cracker at its Ichihara plant in Chiba, after a turnaround, as per Reuters. The cracker was shut on July 1 and was originally due to ressume on July 27, but the restart was delayed by two days.

For more details on Mitsui Chemicals to restart a 553,000 tpa naphtha cracker at Ichihara plant click here

Total Petrochemicals USA begins restart process at Port Arthur oil refinery

Total Petrochemicals USA has embarked on the process of restarting several processing units at its Port Arthur, Texas, oil refinery after a lightning strike forced shutdowns, the company said in a repport to Texas state environmental regulator.

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Domo Polypropylene becomes Ducor Petrochemicals

With effect from July 1, 2011, Domo Polypropylene BV will become Ducor Petrochemicals BV. Domo Polypropylene is a joint venture between Belgium's Domo Group and Israel's Carmel Olefins. Ducor Petrocheemicals offers a wide range of polyolefins (polypropylene homopolymers, polypropylene block copolymers, polypropylene random copolymers and low density polyethylene) as well as refinery products, such as paraffin wax.

For more details on Domo Polypropylene becomes Ducor Petrochemicals click here

Bechtel and Linde AG to work together on ethylene crackers expected to grow on shale gas in N America

Bechtel Corporation and Linde AG plan to work together to expand and build ethylene crackers in North America. With the growth in shale gas production in North America, ethylene producers are planningg new grass-roots projects and major expansions.

For more details on Bechtel and Linde AG to work together on ethylene crackers expected to grow on shale gas in N America click here

SABIC IP to add new production lines of Lexan* polycarbonate in China

Sabic Innovative Plastics strategic business unit is to add new production lines of the company's world-renowned Lexan* polycarbonate (PC) resins and films in Shanghai and Nansha, China. These additiions are part of the company's strategy to support the dynamic growth of key plastics sectors in this region, particularly the consumer electronics, electrical, solar, security and automotive industries.

For more details on SABIC IP to add new production lines of Lexan* polycarbonate in China click here

NOVA Chemicals and Statoil ink MOU for ethane supply from the Marcellus Shale Basin

NOVA Chemicals, a developer and manufacturer of plastic resins, chemicals and end-products, and Statoil Marketing and Trading (Statoil) have entered into a memorandum of understanding (MOU) for ethanee supply from the Marcellus Shale Basin.

For more details on NOVA Chemicals and Statoil ink MOU for ethane supply from the Marcellus Shale Basin click here

Dow to sell its polypropylene (PP) business for US$340 million to Braskem

US-based Dow Chemical has agreed to sell its polypropylene (PP) business for US$340 million to Braskem, catapulting Dow into number one PP maker position in North America. The assets involved in the ddeal include two manufacturing plants in USA and two in Germany, with a total annual polypropylene production capacity of 2.

For more details on Dow to sell its polypropylene (PP) business for US$340 million to Braskem click here

Hengyi Petrochemical to set up 1.5 mln tpa Purified Terephthalic Acid (PTA) plant

Hengyi Petrochemical plans to set up a 1.5 mln tpa Purified Terephthalic Acid (PTA) plant. As per Chemical Weekly, upon completion of the project in about two years’ time, the PTA production capacity of the company’s subsidiary Zhejiang Yisheng Petrochemical will increase to 2.

For more details on Hengyi Petrochemical to set up 1.5 mln tpa Purified Terephthalic Acid (PTA) plant click here

Middle Eastern August PE prices on the rise in the Mediterranean

Middle Eastern PE suppliers have started to reveal August LDPE, HDPE and LLDPE prices to the Mediterranean markets including Turkey, Egypt and Italy this week, as per ChemOrbis. After a downward trendd during most of July, new prices from regional producers are showing up at higher levels across the board for all PE products, with sellers pointing to rising costs and comparatively better demand.

For more details on Middle Eastern August PE prices on the rise in the Mediterranean click here

Korea Kumho subsidiaries plan to invest US$837 mln to expand production lines in Yeosu

In a bid to be meet growing demand from automobiles and consumer electronics, Korea Kumho Petrochemical Co. and its three subsidiaries plan to spend 880 bln won (US$837 mln) to scale their production lines in Yeosu, by 2014.

For more details on Korea Kumho subsidiaries plan to invest US$837 mln to expand production lines in Yeosu click here

Another fire at Formosa Plastics Group’s Yunlin complex

Another fire occurred at Formosa Plastics Group’s petrochemical complex in Yunlin County. The Yunlin County government has not responded to the latest fire at the Mailiao complex.
The fire occurred llate Tuesday night and was extinguished in two hours.

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US ethylene prices rise on potential demand ahead of planned turnarounds

US ethylene spot prices rose this week on potential demand related to scheduled cracker maintenance over the next three months, as per ICIS. Ethylene for July traded as high as 61.50 cents/lb (US$13566/ton) this week, rising on average by 7% from deals done a week earlier.

For more details on US ethylene prices rise on potential demand ahead of planned turnarounds click here

HPCL plans to raise US$300 mln to fund expansion

In a bid to primarily fund expansion activities at existing and new refinery projects, Hindustan Petroleum Corporation (HPCL) plans to raise US$300 mln in the second half of the current fiscal. Bank oof Tokyo-Mitsubishi UFJ, State Bank of India and SumitomoMitsui Banking have been appointed as advisors.

For more details on HPCL plans to raise US$300 mln to fund expansion click here

PetroChina to delay by 2-3 weeks, start of maintenance of its 200,000 bpd Dushanzi refinery

PetroChina plans to delay again, startup of a planned maintenance of its 200,000 bpd Dushanzi refinery by two to three weeks to late August, as per Reuters.
PetroChina had initially planned to shut down the largest refinery in northwestern Xinjiang in June or July, but it postponed the 50-day overhaul to begin in early August, as its 210,000-bpd Lanzhou refinery in neighbouring Gansu province started a partial turnaround from June 20.

For more details on PetroChina to delay by 2-3 weeks, start of maintenance of its 200,000 bpd Dushanzi refinery click here

June imports of most petrochemical products continues to decline in China

China’s imports of most petrochemical products continued to decline in June 2011 on restricted domestic demand, partly due to limited access to credits amid continued monetary tightening by the goveernment, as per ICIS.

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Continuing demand from gasoline blending pool elevates naphtha prices in northwest Europe

Naphtha prices remained elevated in northwest Europe due to continuing demand from the gasoline blending pool, whilst Eurobob gasoline drifted lower in thin trading, as per Reuters. Naphtha, replacedd by petrochemical end-users by cheaper rival feedstock propane, has found support from gasoline blending amid the driving season.

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Three fold increase in total June polymer imports from India to China

According to data revealed by the Chinese Customs Agency, China imported 1.05 mln tons of polymers in June 2011, as per ChemOrbis. China’s plastics imports in June 2011 maintained its downward move, retreating for a third consecutive month.

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Chatterjee in discussion with state government for out-of-court settlement on motor spirit dispute

Purnendu Chatterjee of The Chatterjee Group (TCG) is in discussions with the West Bengal government for an out-of-court settlement on the motor spirit dispute, as reported by PTI. Earlier TCG has moveed the Calcutta High Court against the former Left Front government for classifying HPL as an oil company as a result of which it was restricted from collecting sales tax on sales of MS and appropriating the same for itself.

For more details on Chatterjee in discussion with state government for out-of-court settlement on motor spirit dispute click here

Oil prices dip to hover at US$99 as US postpones debt limit talks

Oil prices dipped to hover around US$99 a barrel levels amid investor concerns that the lack of an agreement among US lawmakers to raise the country's debt limit could trigger a default and damage thee global economy.

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Problems at Petroquim refinery impacts July availability for the export market

Chilean polypropylene producer Petroquim reported that July availability for the export market has dipped by 60% due to problems with the local refinery, as per Platts. Its 100,000 tpa polypropylene pplant is due for a four day maintenance shutdown next week as ENAP is under maintenance shutdown.

For more details on Problems at Petroquim refinery impacts July availability for the export market click here

KNM Group, Zecon ink RM17 bln preliminary deals with Gulf Asian Petroleum for refinery and polypropylene plant

KNM Group Bhd and Zecon Bhd signed preliminary deals worth RM17 bln in total with Gulf Asian Petroleum Sdn Bhd (GAP) to build an integrated petrochemical complex in Teluk Ramunia, Johor, Malaysia. Undder the deal, KNM Group and Zecon together with a Korean or Chinese contractor will form a consortium to undertake the petroleum refinery and polypropylene unit projects.

For more details on KNM Group, Zecon ink RM17 bln preliminary deals with Gulf Asian Petroleum for refinery and polypropylene plant click here

Import PVC for Aug rising with costs in India, SEA

Import PVC prices for August have been announced with increases in India and Southeast Asia on the strength of higher upstream costs. Demand was said to be somewhat stronger in India when compared wiith China, as per ChemOrbis.

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Dow and Saudi Arabian Oil Co. to proceed with US$20 bln petrochemical JV at Jubail

Dow Chemical Co. and Saudi Arabian Oil Co. plan to proceed with a US$20 bln petrochemical plant at the Saudi port of Jubail. The complex will comprise 26 manufacturing units and include a world-scale cracker and production units for polyurethanes (isocyanates, polyether polyols), propylene oxide (PO), propylene glycol (PG), elastomers, linear low density polyethylene (LLDPE), low density polyethylene (LDPE), glycol ethers and amines.

For more details on Dow and Saudi Arabian Oil Co. to proceed with US$20 bln petrochemical JV at Jubail click here

Crude oil price climb to the hundred dollar mark

Rising for the third consecutive session, oil prices ended the previous week at the hundred dollar mark, benefiting from improved risk appetite following the latest bail-out plan for Greece. The euro is receiving strong support as a result of the EU deal.

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NWE spot benzene see a forty dollar spurt

An outbreak of short covering has lifted price of Northwest European benzene price by around US$40/mt, as per Platts. The market ignored a fall in the Asian market and stable European naphtha to make a series of upwards surges over the morning.

For more details on NWE spot benzene see a forty dollar spurt click here

Asia's physical naphtha flips into backwardation

Asia's physical naphtha prompt timespread flipped into backwardation on Friday, buoyed by the prospect of tighter supply as some Middle East cargoes head for Europe, as per Reuters. At least 140,000 ttons of naphtha from the Middle East was put on options to sail to Northwest Europe in a rare reversal of arbitrage flow as demand for gasoline blending rose in the West.

For more details on Asia's physical naphtha flips into backwardation click here

Locals call for government to end ban on Taiwanese investment in naphtha crackers in China

Taiwan’s businesses have called for the government to lift its ban on Taiwanese investment in naphtha crackers in China. There is an increasing pressure on the government to lift the ban since the plaanned Kuokuang Petrochemical Technology Co.

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European propylene market under downward pressure on lower-than-expected demand

The European propylene market is coming under intense downward pressure from lower-than-expected demand, as per ICIS. This is caused by technical problems at certain derivatives exacerbating an alreaddy weak situation on key derivative polypropylene (PP).

For more details on European propylene market under downward pressure on lower-than-expected demand click here

Styrene costs rise in Europe and Asia

Spot styrene costs are escalating in Asia and Europe, pulling up PS prices, as per ChemOrbis. In China, PS prices have been recording regular weekly increases for some time, while in Europe, talk has begun about firmer August PS prices amid expectations of higher styrene contracts for next month.

For more details on Styrene costs rise in Europe and Asia click here

Global biodegradable polymer market estimated at 932 million pounds in 2011

The global biodegradable polymer market is estimated at 932 mln lbs in 2011 and is expected to increase at a 22% compound annual growth rate to reach 2.5 bln lbs in 2016, as per companiesandmarkets.coom.

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Japan's naphtha imports for petrochem fell 11% in June 2011 from June 2010

Japan's naphtha imports for the petrochemical sector fell by 11% in June 2011 vs June 2010, as per Reuters. Imports of naphtha for ethylene production amounted to 1,713,009 kilolitres (1,168,908 tons)) last month, the Ministry of Economy, Trade and Industry reported.

For more details on Japan's naphtha imports for petrochem fell 11% in June 2011 from June 2010 click here

Crude inventories fall: oil rises

September Brent crude contract has risen by over a dollar to US$110 per barrel. The Department of Energy has reported a much larger-than-expected draw in crude oil inventories for the week ended Jul. 15- by 3.

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BASF plans plastic additives plant in Bahrain for 2012

BASF will significantly expand its presence in the Middle East region by building a 16,000 tpa plant for antioxidant blends (CSB) in Bahrain. CSBs are key additives for the production of polymers for the plastics industry, especially for the Middle East region.

For more details on BASF plans plastic additives plant in Bahrain for 2012 click here

Initial August PE prices rise in SE Asia, China likely to follow

Southeast Asian PE producers announced initial August prices for LDPE film and HDPE film to their regional markets with increases in the latter part of this week, feeding speculation that overseas prooducers will also attempt August increases to China, as per ChemOrbis.

For more details on Initial August PE prices rise in SE Asia, China likely to follow click here

Braskem to have another alternative feedstock source- naphtha made from post consumption recycled plastic

By 2013, Braskem will have yet another alternative feedstock source besides sugarcane ethanol. The company will begin using naphtha made from post-consumption recycled plastic, to be supplied by Novaeenergia, a company from the Wastech group located in Bahia state.

For more details on Braskem to have another alternative feedstock source- naphtha made from post consumption recycled plastic click here

GAIL proposes to set up a naphtha cracker in PCPIR in Andhra Pradesh

The Andhra Pradesh Chief Minister has sought speedy implementation of the naphtha cracker at the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in the coastal region of the State. Gas Authority of India Ltd.

For more details on GAIL proposes to set up a naphtha cracker in PCPIR in Andhra Pradesh click here

Nizhnekamskneftekhim to resume plans to build a 1 mln tpa ethylene production complex

Russian petrochemicals manufacturer Nizhnekamskneftekhim (NKNH) will resume plans to build a new ethylene production complex, with capacity of 1 mln tpa, at an investment of US$3 bln (€2.5 bln) as perr European Plastics News.

For more details on Nizhnekamskneftekhim to resume plans to build a 1 mln tpa ethylene production complex click here

Shell Chemicals plans to extend August shutdown at naphtha-fed steam cracker at Pulau Bukom

Shell Chemicals plans to extend the August shutdown of its naphtha-fed steam cracker at Pulau Bukom, Singapore, to 40-45 days from around 30 days, as per Platts. The steam cracker, with capacity to prroduce 800,000 tpa of ethylene and 450,000 tpa of propylene, is scheduled to shut around August 11.

For more details on Shell Chemicals plans to extend August shutdown at naphtha-fed steam cracker at Pulau Bukom click here

Traders raise spot HDPE, LDPE prices in Italy

In the past few days, sellers sentiment has begun to firm up in Italy’s local PE market as per ChemOrbis. Following the earlier price cuts, some traders in Italy are now up-revising prices as market ssentiments have seen a shift on improving demand from buyers, supply concerns for the post-holiday period as a result of the ongoing and scheduled plant shutdowns at some regional producers and firmer feedstock prices.

For more details on Traders raise spot HDPE, LDPE prices in Italy click here

Governor forcibly shuts down APEX Petrochemical after detection of hazardous substance leaks

Governor of Rayong has forcibly shut down the APEX Petrochemical factory in Map Ta Phut industrial zone and declared the surrounding area as a dangerous zone after leaks of a hazardous substance were detected.

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Mitsui and Dow sign JV agreement for ethanol venture in Brazil

The Dow Chemical Co. and Mitsui & Co. Ltd. have inked a new joint venture to build ethanol and biopolymers plants in Brazil, as per Platts. Under the agreement, Mitsui will become a 50% equity interesst partner in Dow's sugar cane operation in Santa Vitória, Minas Gerais, Brazil.

For more details on Mitsui and Dow sign JV agreement for ethanol venture in Brazil click here

Saudi Aramco and Dow to finalize details of JV for petrochemicals complex in Saudi Arabia

Saudi Aramco and Dow Chemical Co plan to finalize the details of a joint venture to build one of the world's largest petrochemicals complex in Saudi Arabia, as per Reuters. The joint venture will givee Dow access to cheap Saudi gas feedstock and proximity to customers in Asia, Africa and Europe, while Saudi Aramco can execute part of its plan to expand its petrochemical industry and diversify away from oil alone.

For more details on Saudi Aramco and Dow to finalize details of JV for petrochemicals complex in Saudi Arabia click here

Naphtha prices in Asia rise to 9 week highs, cracks at 6 week highs

Naphtha price in Asia rose to over nine-week highs, while cracks rose to around a six week high. These increases echo the strength in Europe on stronger demand, as per Reuters, and most traders are noot convinced that Asian fundamentals have improved.

For more details on Naphtha prices in Asia rise to 9 week highs, cracks at 6 week highs click here

Polymer imports down in Italy in April 2011

According to recent statistics revealed by Eurostat, Italy’s plastics imports in April 2011 dropped on a monthly and yearly basis, as per ChemOrbis. The country’s total polymer imports, which had riseen over the past few months, retreated towards January figures.

For more details on Polymer imports down in Italy in April 2011 click here

Heavy rains force Kumho P&B Chemicals to cut runs at two solvent lines

South Korea has seen record high rains this season. Uptil July 13, the Korea Meteorological Administration reported about 563 ml rainfall since the start of the season on June 22, about 2.8 times the average for the period over 1981 to 2010.

For more details on Heavy rains force Kumho P&B Chemicals to cut runs at two solvent lines click here

60% run rates at Dalian Petrochemical’s downstream facilities of its 10 mln tpa CDU post-fire

Dalian Petrochemical, a subsidiary of PetroChina, is running the downstream facilities of its 10 mln tpa crude distillation unit (CDU) in Dalian at reduced rates of about 60% after a fire at the unit two days ago, as per ICIS.

For more details on 60% run rates at Dalian Petrochemical’s downstream facilities of its 10 mln tpa CDU post-fire click here

Uflex commissions AL-OX coater for Packaging films and CPP film line in Egypt

Uflex Ltd., India’s largest flexible packaging manufacturer has commissioned an AL-OX coater for Packaging films at its Egypt plant in 6th of October City, near Cairo. With this, UFLEX joins the list of handful manufacturers, capable of producing ALOX-coated films.

For more details on Uflex commissions AL-OX coater for Packaging films and CPP film line in Egypt click here

China’s Henan Province to have world’s largest coal to ethylene glycol base

Henan Province has inked a cooperation agreement on a coal to ethylene glycol project with China National Chemical Engineering Group Corp to build the world largest coal to ethylene glycol base, as peer China Knowledge.

For more details on China’s Henan Province to have world’s largest coal to ethylene glycol base click here

China's annual PE demand to grow by 8-9% in 2011 down from 19% in 2010

China's annual PE demand is expected to grow by 8-9% in 2011 down from 19% in 2010, but new capacity will reduce imports by up to 14% from the 7.4 mln tons imported in 2009, a sper a report by BMI. BMMI believes this will be more at the expense of neighboring Asian states while Qatari suppliers will be less affected and should benefit from low domestic ethane feedstock costs.

For more details on China's annual PE demand to grow by 8-9% in 2011 down from 19% in 2010 click here

Sinopec and Exxon Mobil to jointly assess shale-gas potential in Sichuan

In its bid for unconventional sources of energy, Sinopec Group and ExxonMobil plan to jointly assess shale-gas potential in the province of Sichuan. Sinopec Group (unit of China Petrochemical) and Exxxon’s Sichuan subsidiary signed an agreement to survey the 3,643.

For more details on Sinopec and Exxon Mobil to jointly assess shale-gas potential in Sichuan click here

Exxon Mobil to delay commissioning of 1 mln tpa ethylene cracker at Singapore

Exxon Mobil Corp plans to delay commissioning of a 1 million tpa ethylene cracker at its Singapore petrochemical plant, as per Reuters. The cracker will start in 2012 instead of H2-2011 to ensure a saafe start-up of the unit which is integrated with several others.

For more details on Exxon Mobil to delay commissioning of 1 mln tpa ethylene cracker at Singapore click here

Supreme Petrochem reports Net profit of 87.69 crores for the year

India’s largest polystyrene manufacturer - Supreme Petrochem Ltd (SPL) has reported a Net profit of 87.69 crores for the year ended June 30, 2011, as compared to 60.47 crores for 2010. Net revenues foor the year 2010-11 stood at 1943.

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Foster Wheeler subsidiary inks MOU to form jointly-owned company with SOCAR

Foster Wheeler AG subsidiary of its Global Engineering and Construction Group has signed a Memorandum of Understanding (MoU) to cooperate to form a jointly-owned company with The State Oil Company of Azerbaijan Republic (SOCAR) in the Republic of Azerbaijan.

For more details on Foster Wheeler subsidiary inks MOU to form jointly-owned company with SOCAR click here

Praxair inks deal to supply nitrogen and oxygen to Braskem’s expanded PVC unit in Alagoas

Praxair Inc.’s Brazilian arm-White Martin, recently signed a gas supply contract with Braskem, the largest petrochemical company in the Americas and the world’s largest biopolymers producer. The 15-yeear agreement requires White Martin to supply nitrogen and oxygen to Braskem’s expanded polyvinyl chloride (PVC) unit in the state of Alagoas, in Brazil’s northeast region.

For more details on Praxair inks deal to supply nitrogen and oxygen to Braskem’s expanded PVC unit in Alagoas click here

Indian petrochem industry shows no sign of slowing down, could face capacity constraints over medium-term

The Indian petrochemicals industry shows no sign of slowing down, although it could come up against capacity constraints over the medium-term, according to BMI's latest India Petrochemicals Report. Inndian demand for most petrochemicals products was strong in FY-2010/11 (ending March 2011) with polymers up by 10% y-o-y.

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SABIC Q2-2011 profits surge 61%

World Number 1 petrochem maker- Saudi Basic Industries Corp. (SABIC), has seen a 61% surge in second-quarter profits, because of higher prices for its products. Net income jumped to SR 8.1 bln (US$2.116 bln) from SR 5.

For more details on SABIC Q2-2011 profits surge 61% click here

Spot naphtha premiums in NWE supported by buoyant blending demand

Spot naphtha premiums in Northwest Europe firmed by over US$5/mt last week, supported by a dearth of prompt cargoes stemming from recent demand into the gasoline blending pool, as per Platts. The premmium for spot naphtha cargoes CIF NWE over front-month swaps closed last Friday at US$7.

For more details on Spot naphtha premiums in NWE supported by buoyant blending demand click here

Higher costs, limited availability push up PP prices in SE Asia

Spot PP prices in Southeast Asia have moved higher over the past week along with rising upstream costs and limited regional availability as per ChemOrbis. The market is expecting to receive shortly, fresh offers from major overseas producers with increases over the July levels, as most import offers are currently below theoretical production costs based on spot propylene prices.

For more details on Higher costs, limited availability push up PP prices in SE Asia click here

Asian naphtha prices rebound from a three-session low to reach week highs

Naphtha prices in Asia have rebounded from a three-session low to reach a week's high on
Monday. Naphtha cracks rose to a 1-1/2 month high, although they are still 17% below this year's average, as pper Reuters.

For more details on Asian naphtha prices rebound from a three-session low to reach week highs click here

Honam Petrochem buys 50,000 tons naphtha for H2-August at a lower price

Honam Petrochemical bought 50,000 tons of naphtha for H2-August at a lower price, of minus US$3.50/ton Japan spot quotes on a cost-and-freight (C&F) basis for two cargoes to be delivered to Yeosu. Witth the recent purchase, its total spot purchases by tender for next month have totaled to around 125,000 tons, as per Reuters.

For more details on Honam Petrochem buys 50,000 tons naphtha for H2-August at a lower price click here

Crude price reacts to news of European banks passing stress tests

Oil prices reacted to news of European banks passing closely-watched stress tests amid concerns over the US government's debt problems. New York's main contract, light sweet crude for delivery in Auguust dipped in Asia to US$97.

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German chemical industry heading for a record year

German chemical industry is heading for a record year, as per latest half yearly reports of VCI. The industry's production and sales will set a new high in 2011, as predicted by German Chemical Industtry Federation (VCI).

For more details on German chemical industry heading for a record year click here

Yunlin County Government rejects applications by Nan Ya to resume production at two plants

The Yunlin County Government yesterday rejected applications by Nan Ya Plastics Corp to resume production at two factories in its compound in Haifeng, Mailiao Township, although it gave the green lighht to restarting two other factories earlier in the week, as per Taipei Times.

For more details on Yunlin County Government rejects applications by Nan Ya to resume production at two plants click here

Formosa’s phase-four expansion plans at naphtha cracker in Mailiao Township fail to pass EIA review

Plans by the Formosa Plastics Group to make alterations to the phase-four expansion at its naphtha cracker in Yunlin’s Mailiao Township did not pass the Environmental Protection Administration’s (EPA)) Environmental Impact Assessment (EIA) review, as per Taipei Times.

For more details on Formosa’s phase-four expansion plans at naphtha cracker in Mailiao Township fail to pass EIA review click here

Fluor Corp. chosen to serve as BASF's engineering partner in Asia and Europe

Engineering and construction company Fluor Corp. has been chosen to serve as BASF's engineering partner to serve as BASF's engineering partner in Asia and Europe. Fluor, which will work on chemicals aand petrochemicals projects across both regions, received service agreements tied to its BASF selections.

For more details on Fluor Corp. chosen to serve as BASF's engineering partner in Asia and Europe click here

Spot NWE benzene strengthen as August naphtha spread touches US$200/mt

Spot Northwest European benzene prices strengthened further at the end of last week, with further evidence of a widening spread between upstream naphtha and benzene, as per Platts.
August deal was rreported at US$1175/mt for a 1,000 mt CIF ARA barge late Thursday.

For more details on Spot NWE benzene strengthen as August naphtha spread touches US$200/mt click here

Kraton Performance Polymers and Formosa in joint venture for HSBC manufacturing

Kraton Performance Polymers, Inc. has announced the execution of a framework agreement with Formosa Petrochemical Corp. (FPCC), which sets forth the major terms and conditions which will, upon complettion of the necessary definitive agreements, govern the formation of a 50/50 joint venture between the two companies to construct and operate a 30 kiloton hydrogenated styrenic block copolymer ("HSBC") plant to be located in Mailiao, Taiwan.

For more details on Kraton Performance Polymers and Formosa in joint venture for HSBC manufacturing click here

Asian propylene and styrene costs rise, pull up polymer markets

In Asia, spot propylene and styrene monomer prices are above levels reported at the beginning of the month. Higher monomer prices have already caused some upward movements in region’s polymer markets,, with PP and PS prices escalating over the past week, as per ChemOrbis.

For more details on Asian propylene and styrene costs rise, pull up polymer markets click here

Saudi Arabia hikes PE production volumes on increased availability of associated gas

Saudi Arabia has raised PE production volumes on increased availability of associated gas. Rising oil production in Saudi Arabia has resulted in bigger volumes of polyethylene (PE) being delivered intto Asia-Pacific markets, as per ICIS blog.

For more details on Saudi Arabia hikes PE production volumes on increased availability of associated gas click here

SABIC to invest in 14 new projects from 2012 to 2015, expand in Asia

Saudi Basic Industries Corp. (SABIC) plans to invest in 14 new projects to be carried out between 2012 and 2015, Vice-Chairman and Chief Executive Officer Al-Mady said. With several offices in India, the company is also looking for new ventures in the subcontinent.

For more details on SABIC to invest in 14 new projects from 2012 to 2015, expand in Asia click here

Sahara Petrochemical’s polypropylene plant shutdown

Sahara Petrochemical Co.’s polypropylene plant at Al Waha Petrochemicals has been shutdown. Production has been disrupted due to a technical fault, as per Bloomberg.

For more details on Sahara Petrochemical’s polypropylene plant shutdown click here

Chinese LLDPE film prices moving almost at par with HDPE

Spot LLDPE film prices in China are close to reaching par with HDPE film prices once again following two weeks of strong gains, as per ChemOrbis. HDPE prices have been trading at a premium over LLDPEE film in China since the end of May as comparatively better demand for HDPE pushed the premium carried by HDPE film over LLDPE film as high as US$65/ton in the month of June.

For more details on Chinese LLDPE film prices moving almost at par with HDPE click here

Coca-Cola inaugurates Valpré plant, introduces PlantBottle™ packaging to Africa

Coca-Cola South Africa has announced the opening of its new Valpré plant and the introduction of PlantBottle™ packaging to Africa. The new state-of-the-art facility will fill Valpré Spring Water in Heeidelberg, southeast of Johannesburg.

For more details on Coca-Cola inaugurates Valpré plant, introduces PlantBottle™ packaging to Africa click here

German naphtha demand in 2011 above five-year moving average

German demand for naphtha in 2011 has been consistently above the moving average for the past five years, an International Energy Agency reported, as per Platts. The five year moving averages for Januuary to May 2011 were within a 365,000-440,000 bpd range, whereas monthly demand for naphtha into Germany between January and May this year has not fallen below 450,000 bpd.

For more details on German naphtha demand in 2011 above five-year moving average click here

Royal Dutch Shell and Dow lose court appeal against fine levied by EU regulators

Royal Dutch Shell and Dow Chemical lost a court appeal on Wednesday against a fine levied by EU regulators five years ago for taking part in a cartel. However, the court cut a fine imposed on Italy's Eni, as per Reuters, The General Court, Europe's second-highest, also annulled penalties levied against Czech petrochemicals group Unipetrol and Polish company Trade-Stomil.

For more details on Royal Dutch Shell and Dow lose court appeal against fine levied by EU regulators click here

Naphtha prices in Asia recover to a three-session high

Asia's naphtha price recovered to a three-session high on Wednesday, cracks were at a two-session low, and timespreads stayed at a discount to reflect an overall slower demand and stockpiles, as per RReuters.

For more details on Naphtha prices in Asia recover to a three-session high click here

Rise of 100,000 tons/month expected in Brazil's European naphtha imports

Uncertainty surrounding the changes to ethanol content in Brazilian gasoline could mean naphtha imports from Europe could increase by upto 100,000 tons/month, as per Platts. The Brazilian government iis currently discussing the possibility of cutting the ethanol blend in gasoline to 18% from 25%, resulting from lower supplies of biofuels and poor production rates.

For more details on Rise of 100,000 tons/month expected in Brazil's European naphtha imports click here

Technip awarded engineering services contract for greenfield chemical plant in Taixing by Solvay

Technip has been awarded by Solvay an engineering services contract for studying the construction of a greenfield chemical plant in Taixing, Jiangsu Province, China. The plant will be based on Solvay''s innovative and patented Epicerol technology and will produce 100,000 tpa of epichlorohydrin from glycerine.

For more details on Technip awarded engineering services contract for greenfield chemical plant in Taixing by Solvay click here

CNOOC-Shell JV at Nanhai augments run rates after restart

China's CNOOC and Shell Petrochemicals Co. joint venture at Nanhai is ramping up run rates at its integrated steam cracker and petrochemical complex since restart, as per Platts. The cracker, with cappacity to produce 800,000 tpa of ethylene and 430,000 tpa of propylene, is currently running at 90% capacity.

For more details on CNOOC-Shell JV at Nanhai augments run rates after restart click here

Naphtha cargoes commence from Pearl gas-to-liquids plant

State-owned Qatar International Petroleum Marketing Co (Tasweeq) has offered spot and term naphtha cargoes from Pearl gas-to-liquids plant, as per Bloomberg News. This is the first time the naphtha grrade has appeared on the company’s marketing tenders.

For more details on Naphtha cargoes commence from Pearl gas-to-liquids plant click here

Tanker rates under pressure on key Asian freight routes

Rates for oil tankers on key Asian freight routes are seen steady to lower over the next week as freight demand declines due to IEA's stock release and slower bookings for naphtha shipments, as per Reeuters.

For more details on Tanker rates under pressure on key Asian freight routes click here

Petro Rabigh expected to complete its 275,000 tpa phenol project in Rabigh in 2014

Rabigh Refining and Petrochemical (Petro Rabigh) is expected to complete its 275,000 tpa phenol project in Rabigh in 2014, as per engineering company KBR. John Derbyshire, president of KBR's technologgy division, said the company is providing the basic engineering and technology for the project, and is working with Japanese engineering and construction firm JGC Corp.

For more details on Petro Rabigh expected to complete its 275,000 tpa phenol project in Rabigh in 2014 click here

Materials meet rapidly-changing design and functional requirements of portable electronics market

Mitsubishi Engineering-Plastics, the global leader in high performance Laser Direct Structuring (LDS) materials, meets the rapidly-changing design and functional requirements of the portable electroniics market with the first-time availability of full-color XANTAR® LDS grades, including newly-introduced full-color high practical impact strength, and chlorine- and bromine-free innovations.

For more details on Materials meet rapidly-changing design and functional requirements of portable electronics market click here

Resin validated as top material of choice for multiple sterilization capabilities

Third-party test results validate the multiple sterilization capabilities of SABIC Innovative Plastics’ remarkably tough Ultem* HU1004 polyetherimide (PEI) resin. This high-performance resin – previouusly utilized for other techniques and now tested for use with the STERRAD® NX® low-temperature hydrogen peroxide gas plasma sterilization – gives healthcare providers the flexibility to choose any major method for sterilizing trays, electronic medical devices and other applications.

For more details on Resin validated as top material of choice for multiple sterilization capabilities click here

LDPE prices in Italy losing premium over global markets

Since the beginning of 2011, Italy’s LDPE market had been trading at a premium over other global markets including Turkey, Egypt, China and Southeast Asia, as per Chemorbis. For much of H1-2011, LDPE film prices rose steadily vs other regions as previously limited availability pushed prices higher in Europe.

For more details on LDPE prices in Italy losing premium over global markets click here

Yunlin County government accepts Nan Ya Plastics’ request to resume production at two plants

Formosa Plastics Group (FPG) subsidiary Nan Ya Plastics Corp. has received approval from the Yunlin County government to resume production at two plants that were shut down last month over safety conccerns, as per CNA.

For more details on Yunlin County government accepts Nan Ya Plastics’ request to resume production at two plants click here

Euro strengthens, oil prices rebound

As the Euro strengthens, oil prices have rebounded. Light sweet crude oil for August delivery rose by over a dollar to US$96.2, while Brent futures were at US$117.3.The Euro has strengthened on a bettter-than-expected auction of Italian 12-month bills and market chatter about the European Central Bank's active involvement in purchasing Spanish and Italian government debt.

For more details on Euro strengthens, oil prices rebound click here

Technology offers efficient filtration, homogenisation and degassing to process fully coated and multiple-layer printed plastic waste

When processing severely contaminated plastic waste – especially heavily printed film packaging – previous recycling technology often struggled to meet the necessary performance requirements. Binding agents and other additives that are always found in the inks are problematical as they break down in parts at the processing temperatures of the plastic matrix and "outgassing" takes place.

For more details on Technology offers efficient filtration, homogenisation and degassing to process fully coated and multiple-layer printed plastic waste click here

Japan's June ethylene output falls 5% amid steam cracker problems

Japan's June ethylene production fell 5.2% from May to 524,400 tons, on shut down of several naphtha-fed steam crackers due to technical problems, as per data released by the Ministry of Economy, Tradde and Industry.

For more details on Japan's June ethylene output falls 5% amid steam cracker problems click here

Naphtha price in Asia at four-session low in line with lower Brent crude

Asia's naphtha price was at a four-session low on Tuesday, dragged down by lower Brent crude,
while physical timespreads remained in the negative zone for the fifth-straight week as high supplies faiiled to ease, as per Reuters.

For more details on Naphtha price in Asia at four-session low in line with lower Brent crude click here

Low end US PVC prices becoming scarce in the Mediterranean

According to players in Egypt and Turkey, low end prices for American PVC are beginning to disappear from the import market as sellers pull their prices up, as per ChemOrbis. US PVC prices in this reggion had been trading well below offers to China, aiding US sellers to push for higher prices in the Mediterranean.

For more details on Low end US PVC prices becoming scarce in the Mediterranean click here

Oil prices dip to US$94 levels as US dollar strengthens

Oil prices dipped to hover around US$94 on a strengthening US dollar. A stronger greenback makes crude more expensive for investors with other currencies. The euro fell to US$ 1.3953.
Benchmark oil ffor August delivery dipped to US$94.

For more details on Oil prices dip to US$94 levels as US dollar strengthens click here

GS Caltex sets up polymer compounds unit in Czech Republic

In an effort to diversify its overseas business portfolio, GS Caltex Co. has set up a unit in the Czech Republic to produce and sell polymer compounds. To be located in Karvina, the plant is expected to have annual sales of 100 billion won (US$93.

For more details on GS Caltex sets up polymer compounds unit in Czech Republic click here

Showa Denko completes pilot plant for heat-resistant transparent film

Showa Denko K.K. (SDK) has completed, within the premises of its Oita Complex, a pilot plant for its new heat-resistant and transparent film SHORAYALTM. SDK will start sample shipments for use in dispplays, including touch screens, and accelerate marketing activities in preparation for the start of full-scale commercial shipments.

For more details on Showa Denko completes pilot plant for heat-resistant transparent film click here

PET prices softening in Italy, expected to firm in China

Spot PET prices are expected to gain some ground at the lower end of the range in the Chinese market this week as sellers are likely to take a firmer stance on prices given higher energy costs, as perr ChemOrbis.

For more details on PET prices softening in Italy, expected to firm in China click here

M&G Group to build 1 mln tpa PET plant and 1.2 mln tpa PTA plant at Corpus Christi, Texas

M&G Group, the largest Americas producer of polyethylene terephthalate (PET) for packaging applications, has selected Corpus Christi, Texas, as the location for its previously announced 1 mln tpa PET plant and accompanying 1.

For more details on M&G Group to build 1 mln tpa PET plant and 1.2 mln tpa PTA plant at Corpus Christi, Texas click here

European contract cracker margins based on naphtha see sharp fall for second consecutive week

European contract cracker margins based on naphtha feedstock fell sharply for the second week in a row, following an 8.3% jump in upstream costs, according to ICIS. The contract margin fell by nearly €130/ton (US$186/ton) in the week ending 8 July because of an almost US$60/ton rise in naphtha prices, combined with a 1.

For more details on European contract cracker margins based on naphtha see sharp fall for second consecutive week click here

Russian Government may regulate petrochemicals market

Russia is today one of the largest crude oil producers in the world, yet it faces a shortage of petrochemicals on the domestic market. Russia refines less than half of the 500 mln tons it produces, prrocessed to make fuel oil, as per RIA Novosti.

For more details on Russian Government may regulate petrochemicals market click here

Saudi Arabia’s petrochemicals exports jump rise in May 2011 on stronger demand from Asia

Saudi Arabia’s petrochemicals exports increased to SR4.80 bln (US$1.28 bln), rising by 39% in value in May 2011 compared to SR3.45 bln in May 2010 because of higher prices and stronger demand from Asiia, as per Saudi Gazette.

For more details on Saudi Arabia’s petrochemicals exports jump rise in May 2011 on stronger demand from Asia click here

Formosa Petrochemical’s No. 1 cracker to restart before H2 August

Taiwan's Formosa Petrochemical Corp will restart the it’s 700,000 tpa No. 1 naphtha cracker before second-half August. This restart will correspond with shutdown of its No. 3 unit for maintenance, andd will avoid two units being offline at the same time, as per Reuters.

For more details on Formosa Petrochemical’s No. 1 cracker to restart before H2 August click here

Firmer upstream costs prop up polystyrene prices in Asia despite weak demand

In Asia, import PS prices changed direction as offer levels started to gain during the past week, as per ChemOrbis. Firmer upstream costs support these increases, as GPPS offer levels are currently USS$25-100/ton below theoretical costs based on spot styrene prices.

For more details on Firmer upstream costs prop up polystyrene prices in Asia despite weak demand click here

Dip anticipated in chlor-alkali and EDC prices in USA in H2-2011

Formosa and Shintech's additional capacity coming on stream in USA is estimated to lower chlor-alkali and EDC prices during the second half of the year.
Additional capacity of chlor-alkali and ethyllene dichloride is expected to come onstream at Formosa Plastics Corp’s expanded unit at Point Comfort, Texas, by mid-July, as per Platts.

For more details on Dip anticipated in chlor-alkali and EDC prices in USA in H2-2011 click here

With effect from July 1, 25% tariff cut on S Korean PTA, PET exports to EU

South Korean purified terephthalic acid (PTA) and PET bottle chip exports to the European Union are enjoying a 25% cut in import tariffs, with effect from July 1, as its free trade agreement with the continent takes effect as per Platts.

For more details on With effect from July 1, 25% tariff cut on S Korean PTA, PET exports to EU click here

HC Petrochem to invest US$568 mln in its second BTX complex

HC Petrochem plans to invest US$568 mln in a BTX complex in Daesan, South Chungcheong Province. This will be the cmpany’s second BTX complex, which produces benzene, toluene and paraxylene, and will ttriple its production capacity.

For more details on HC Petrochem to invest US$568 mln in its second BTX complex click here

BP YPC Acetyls to idle 500,000 tpa acetic acid plant for around 20 days on CO cut

China's BP YPC Acetyls will idle its 500,000 tpa Nanjing acetic acid plant for around 20 days from early August while its upstream carbon monoxide supply is interrupted due to maintenance, as per Plattts.

For more details on BP YPC Acetyls to idle 500,000 tpa acetic acid plant for around 20 days on CO cut click here

Will local PP, PE prices maintain their upward momentum in China?

Local PP and PE prices in China have posted increases this week following prolonged downward trends, as per ChemOrbis. Prices began to move higher late last week when crude oil and naphtha prices staarted regaining after falling to their lowest levels since the start of the year.

For more details on Will local PP, PE prices maintain their upward momentum in China? click here

Prius a features automotive interior parts made from renewably sourced thermoplastic resin

Toyota's new hybrid vehicle, "Prius a" (Prius alpha), features automotive interior parts made of DuPont Sorona EP polymer, a high-performance, renewably sourced thermoplastic resin, contributing to thhe advanced interior design while also reducing the environmental footprint.

For more details on Prius a features automotive interior parts made from renewably sourced thermoplastic resin click here

HPL to wait for the viability of unit to be restored before making future investments

Despite financial benefits gained by Haldia Petrochemicals Ltd (HPL) from the waiver of import duty on the naphtha it uses as feedstock, HPL will wait for the viability of its unit to be restored befoore making future investments, as per Economic Times.

For more details on HPL to wait for the viability of unit to be restored before making future investments click here

Reliance sells naphtha cargo for end July loading slightly higher than a previous sale

India's Reliance Industries sold a naphtha cargo for end July loading at US$13-14/ton above Middle East quotes on a free-on-board (FOB) basis, slightly higher than a previous sale, reflecting strongerr sentiment, as per Reuters.

For more details on Reliance sells naphtha cargo for end July loading slightly higher than a previous sale click here

Improvement in China market with oil price recovery anticipated tighter PE and PP supply

China’s polyolefin market has improved over the last week thanks to a recovery in oil prices and anticipated tighter supply of polyethylene (PE) and polypropylene (PP), as per ICIS. A US$50-100/ton hiike has been heard over the past week for physical cargoes across many grades.

For more details on Improvement in China market with oil price recovery anticipated tighter PE and PP supply click here

Turkey to impose safeguard duty on PET imports for three years

Turkey is to impose 5% safeguard duty on import of PET (Polyethylene Terephthalate) originating from all countries for a period of three years, which is extendable for another three years. However, thhis duty will specifically wipe out the market access for Pakistani exporters, since a major chunk of Turkey’s total imports of PET is from Pakistan, as per Dawn.

For more details on Turkey to impose safeguard duty on PET imports for three years click here

Wison (Nanjing) Clean Energy Co. Ltd. selects UOP technology to convert methanol to olefins

UOP LLC, a Honeywell company, announced today that China’s Wison (Nanjing) Clean Energy Company Ltd. has selected UOP technology to convert methanol into building blocks for chemical products at an exxisting coal chemical complex in China.

For more details on Wison (Nanjing) Clean Energy Co. Ltd. selects UOP technology to convert methanol to olefins click here

Simple and inexpensive manufacturing methods to make efficient solar cell structures

Very simple and inexpensive manufacturing methods in which flexible layers of material are deposited over large areas like cling-film can be used to make efficient solar cell structures, as shoen by sscientists from the Universities of Sheffield and Cambridge.

For more details on Simple and inexpensive manufacturing methods to make efficient solar cell structures click here

New set of high-performance, food contact-compliant PP resins for spun bond applications

A new set of PP resins for spun bond applications has been introduced by Saudi Basic Industries Corporation (SABIC). These high-performance, food contact-compliant materials address the full spectrum of customer needs, such as consistent quality, cost/energy savings, reliable supply and impact on sustainability.

For more details on New set of high-performance, food contact-compliant PP resins for spun bond applications click here

Polypropylene sentiment in SE Asia, Turkey shifts on recent upturn in China

After being on a downward trend for the past few months, China’s PP market has showed some recovery, recently as per ChemOrbis. Firmer naphtha costs in Asia and rebounding crude oil prices, which gainned US$6/barrel on the Nymex since the start of last week, led to an unexpected rally in China’s domestic market which generated some demand from traders and distributors who want to restock before prices potentially move higher.

For more details on Polypropylene sentiment in SE Asia, Turkey shifts on recent upturn in China click here

Five day delay for naphtha shipments from Saudi Aramco

Saudi Aramco will delay naphtha shipments from its Rabigh refinery by about five days for unclear reasons, as per Reuters. Despite the brevity of the delay, sentiments are expected to lift in the naphhtha market which has been weighed down by weaker demand from Taiwan for nearly two months.

For more details on Five day delay for naphtha shipments from Saudi Aramco click here

Styrene monomer market surges in Asia, continues to push BZ

Benzene prices in Asia rose for a third consecutive day Wednesday as the downstream styrene monomer market surged amid higher crude futures and naphtha prices, as per Platts. FOB Korea prices gained UUS$13.

For more details on Styrene monomer market surges in Asia, continues to push BZ click here

Oil prices below US$97 in Asia amid investor optimism

Benchmark oil for August delivery dipped to US$96.7 on the Nymex from US$96.8 on Tuesday.
In London, Brent crude dipped to US$113.50 on the ICE Futures exchange. Oil prices lingered below the US$977 mark in Asia amid investor optimism that strong crude demand from developing countries will offset weaker consumption growth in rich nations.

For more details on Oil prices below US$97 in Asia amid investor optimism click here

Hengyi Petrochemical to set up 1.5 mln tpa PTA plant

Hengyi Petrochemical plans to set up a 1.5 mln tons Terephthalic Acid (PTA) plant. The project is expected to be complete in about two years’ time, after which the PTA production capacity of the compaany’s subsidiary Zhejiang Yisheng Petrochemical will increase to 2.

For more details on Hengyi Petrochemical to set up 1.5 mln tpa PTA plant click here

USA’s cost advantage in ethane feedstock with development of shale gas reserves to lead to investment revival

The US is building on its cost advantages in ethane feedstock with the development of shale gas reserves promising to lead to a revival in investment in cracker capacity over the next 5-7 years, accorrding to BMI's latest US Petrochemicals Report.

For more details on USA’s cost advantage in ethane feedstock with development of shale gas reserves to lead to investment revival click here

Haldia Petro posts Rs 247 crore loss in first quarter, mulls 2-3 week shutdown

Haldia Petrochemicals Ltd (HPL) has incurred a loss of Rs 247 crore in the first quarter. As a persistent downtrend continues in polypropylene and ethylene prices, HPL plans to keep away from the markkets with a planned shutdown, starting the third week of July, as per Economic Times.

For more details on Haldia Petro posts Rs 247 crore loss in first quarter, mulls 2-3 week shutdown click here

NWE naphtha back into backwardation despite steam cracker shutdowns in Asia

The prompt European naphtha market nudged back into backwardation on Tuesday despite reports of steam cracker shutdowns in Asia and a finely balanced European market, as per Platts. The European naphttha market is currently hanging in the balance with open spec cargoes fetching small premiums to swaps despite crack spreads languishing at around minus US$7/barrel, in a structurally long market.

For more details on NWE naphtha back into backwardation despite steam cracker shutdowns in Asia click here

Negative physical timespreads continue in Asia on cracker outages and high spot supply expectations

Asia's physical timespreads remained negative after nearly a month as cracker outages and expectations of high spot supplies weighed on prices, as per Reuters.
South Korea's Samsung Total Petrochemiicals picked up an additional spot naphtha cargo for H1-August arrival at a discount of US$3/ton to Japan spot quotes on a cost-and-freight basis.

For more details on Negative physical timespreads continue in Asia on cracker outages and high spot supply expectations click here

European polystyrene sellers cautious about July price cuts to Italy

Italy’s PS market has been under renewed downward pressure from lower styrene costs, as Europe’s July styrene contracts settle fully with an average decrease of €95/ton from June following an €80/ton drop in July benzene contracts, as per ChemOrbis.

For more details on European polystyrene sellers cautious about July price cuts to Italy click here

Asian benzene prices rise on firmer downstream styrene monomer demand

Benzene prices in Asia rose for the second consecutive day as a firmer downstream styrene monomer market offset an upstream fall in crude futures. As per Platts, FOB Korea price rose by four dollars tto US$1060.

For more details on Asian benzene prices rise on firmer downstream styrene monomer demand click here

First commercial-scale installation of Honeywell UOP's advanced MTO methanol-to-olefins solution

UOP LLC, a Honeywell company, announced that China's Wison (Nanjing) Clean Energy Company Ltd. has selected UOP technology to convert methanol into building blocks for chemical products at an existingg coal chemical complex in China.

For more details on First commercial-scale installation of Honeywell UOP's advanced MTO methanol-to-olefins solution click here

Burel Industries selects UNIPOL™ PP Process Technology for 250,000 tpa Malaysian facility

Burel Industries has selected UNIPOL™ Polypropylene Process Technology by Dow Chemical Company for its new 250,000 tpa polypropylene facility at Gebang Industrial Park in Kuantan, Malaysia. The plant will be designed to produce homopolymers, random copolymers and impact copolymers and is set to come on line in 2013/2014.

For more details on Burel Industries selects UNIPOL™ PP Process Technology for 250,000 tpa Malaysian facility click here

Developments in waterproof membranes aid to withstand heavy rain and wind uplift conditions

With climate change causing increasingly severe weather conditions worldwide, the demands on the construction industry are growing. Roofing membranes have to be able to withstand heavy rain and wind uuplift conditions.

For more details on Developments in waterproof membranes aid to withstand heavy rain and wind uplift conditions click here

Revenues at Formosa subsidiaries slump on ordered closure of petrochem plants, monetary measures in China

Four major subsidiaries of Formosa Plastics Group, posted slumps in revenue last month because of the ordered closure of their petrochemical plants and monetary tightening measures in China, as per Taaipei Times.

For more details on Revenues at Formosa subsidiaries slump on ordered closure of petrochem plants, monetary measures in China click here

China's Zhejiang Hengyi to build a US$2.5 bln oil refinery and aromatics cracker complex

The Brunei Economic Development Board (BEDB) announced that His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam has consented to the establishment of a US$2.5 bln oil refinery and aromaticcs cracker project.

For more details on China's Zhejiang Hengyi to build a US$2.5 bln oil refinery and aromatics cracker complex click here

With 27% share in total production, Iran becomes Middle East’s second largest petrochemical producer

With 27% of Middle East’s total production, Iran is the region’s second largest producer of petrochemicals, after Saudi Arabia. Qatar with 9% and Kuwait and Oman (each by 5%) are third and fourth larggest producers of petrochemicals in the Middle East, as per IRIB.

For more details on With 27% share in total production, Iran becomes Middle East’s second largest petrochemical producer click here

Takreer’s new propane dehydrogenation unit to use UOP's C3 Oleflex technology for propylene production

UOP LLC, a Honeywell company, has been selected by the Abu Dhabi Oil Refining Co. (Takreer) to provide key technology for a new petrochemical production unit in the United Arab Emirates. . UOP will pprovide engineering design, technology licensing, catalysts, adsorbents and equipment for the project, which is expected to start up by the end of 2013.

For more details on Takreer’s new propane dehydrogenation unit to use UOP's C3 Oleflex technology for propylene production click here

CPC Corp. shuts Kaohsiung naphtha cracker on reduced ethylene demand from customers

CPC Corp. shut a naphtha cracker at Kaohsiung, because of reduced ethylene demand from customers who are experiencing output disruptions, as per Bloomberg. The state-owned refiner’s No. 4 naphtha craccker will be closed until July 15 as it’s ethylene storage tanks are full because customers including Formosa Plastics Corp.

For more details on CPC Corp. shuts Kaohsiung naphtha cracker on reduced ethylene demand from customers click here

JG Summit to export over 30% of polyethylene production with start up of naphtha cracker in 2013

JG Summit plans to export about a third of its polyethylene production when its naphtha cracker comes onstream in 2013. As per Manila Standard, the plant is to expand its annual PE production capacityy to 310,000 tons from the current 280,000 tons.

For more details on JG Summit to export over 30% of polyethylene production with start up of naphtha cracker in 2013 click here

Dramatic increase in feedstock prices for 2 years leads to gloomy perspective for synthetic roofing membrane

At their latest annual General Assembly, the members of the European association for Single ply Waterproofing membranes (ESWA) expressed their deep concern about the dramatic increase of the prices off their main raw materials for nearly 2 years and the gloomy perspectives for the future.

For more details on Dramatic increase in feedstock prices for 2 years leads to gloomy perspective for synthetic roofing membrane click here

Middle Eastern producers reveal July PP, PE prices to Egypt

Middle Eastern producers started to pronounce new July sell ideas in Egypt’s PP and PE markets at the beginning of last week. Towards the end the week, actual offer levels that surfaced are lower whenn compared to the regional producers’ latest June offers, as per ChemOrbis.

For more details on Middle Eastern producers reveal July PP, PE prices to Egypt click here

AMEC awarded project management contract for development of 400,000 tpa MDI plant in China

AMEC, the international engineering and project management company, has been appointed by BASF Polyurethane (Chongqing) Company Limited and Chongqing Chemical and Pharmaceutical (Group) Holding Companny Limited (CCPHC) as the project management contractor for the development of a new 400,000 tpa MDI (diphenylmethane diisocyanate) facility at Changshou, Chongqing, China.

For more details on AMEC awarded project management contract for development of 400,000 tpa MDI plant in China click here

Demand from petrochem sector for naphtha weakens

Demand from the petrochemicals sector for European naphtha weakened at the end of last week, as end-users are well covered until August amid a falloff in buying further downstream, as per Platts. In tthe downstream markets, polyethylene demand was subdued as converters remained "hand to mouth" on inventory, anticipating a further fall in prices.

For more details on Demand from petrochem sector for naphtha weakens click here

YNCC, Samsung Total buy open-spec naphtha for August

Yeochun NCC Co. has purchased 50,000 metric tons of naphtha for delivery in mid-August, while Samsung Total Petrochemicals bought H1-August open-spec naphtha through tender, a day after it bought simiilar volumes through private talks, as per Reuters.

For more details on YNCC, Samsung Total buy open-spec naphtha for August click here

Nova Chemicals mulls new world-scale polyethylene plant in Sarnia-Lambton by 2017

Nova Chemicals is considering new world-scale polyethylene plant in Sarnia-Lambton by 2017. The project is one of two potential polyethylene facilities on which the company has begun feasibility and eengineering work, expected to be completed by mid-2012.

For more details on Nova Chemicals mulls new world-scale polyethylene plant in Sarnia-Lambton by 2017 click here

Need for Saudi Arabia to find competitive new feedstocks to offset a gas shortage

For Saudi Arabia to expand its petrochemical industry, there is a need to find competitive new feedstocks to offset a gas shortage. The Kingdom’s natural gas consumption has risen sharply because of ggrowing demand from power generation as well as the petrochemical sector, as per Reuters.

For more details on Need for Saudi Arabia to find competitive new feedstocks to offset a gas shortage click here

Asahi Kasei breaks ground on solution-polymerized styrene-butadiene rubber (S-SBR) plant

Asahi Kasei Chemicals held a groundbreaking ceremony in Jurong Island, Singapore, for the first phase of construction of a new plant to produce solution-polymerized styrene-butadiene rubber (S-SBR). TThe plant will produce 50,000 tpa in first phase, scheduled for start-up in May 2013.

For more details on Asahi Kasei breaks ground on solution-polymerized styrene-butadiene rubber (S-SBR) plant click here

Mitsubishi Chemical Corp restarts 375,000 tpa No.1 naphtha cracker at Kashima

As scheduled, Mitsubishi Chemical Corp has restarted the 375,000 tpa No.1 naphtha cracker at its Kashima plant, as per Reuters. The cracker had been shut after the Kashima complex was
damaged in a maagnitude 9.

For more details on Mitsubishi Chemical Corp restarts 375,000 tpa No.1 naphtha cracker at Kashima click here

Cracker shutdown compels Formosa to defer over 1 mln tons of naphtha

Formosa Petrochemical Corp. has deferred over 1 million metric tons of naphtha imports because of the shutdown of one of its crackers, as per ICIS.
A cargo of at least 600,000 tons of naphtha for deelivery between July and August, originally scheduled to be delivered between the end of May and June, has been deferred.

For more details on Cracker shutdown compels Formosa to defer over 1 mln tons of naphtha click here

MOU for multi-billion dollar petrochemicals project inked between USA and Egyptian companies

An MOU for a multi-billion dollar petrochemicals project was signed by prominent US and Egyptian companies, as per Dailynewsegypt.com. Basil El-Baz, founder and CEO of Egypt Basic Industries Corporatiion (EBIC), as well as Chairman and CEO of Carbon Holdings, inked the first of a series of agreements for the development of a US$3.

For more details on MOU for multi-billion dollar petrochemicals project inked between USA and Egyptian companies click here

Nova plans polyethylene expansion at Joffre and in Sarnia

Nova Chemicals plans to expand polyethylene (PE) operations at its Joffre facility near Red Deer and in Sarnia, Ont. Engineering and feasibility studies are expected to be complete in 2012, with startt up of new polymer expansion estimated in 2014-17, as per edmontonjournal.

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Is China’s polyetylene market nearing the bottom?

Players in China are beginning to speculate that the country’s PE market may be nearing the bottom of its ongoing downward trend following seven consecutive weeks of declining prices as per ChemOrbis..

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Samsung Engineering awarded US$229 mln contract for HDPE plant by OPaL

Samsung Engineering has been awarded a contract worth US$229 mln for a high-density polyethylene plant (HDPE) by OPaL (ONGC Petro Additions Ltd.), a subsidiary of ONGC (Oil & Natural Gas Corporation LLtd).

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High-performance polyetherimide fiber in high-end work wear and protective clothing

SABIC Innovative Plastics’ versatile, high-performance Ultem* polyetherimide (PEI) fiber has found an important new application in high-end work wear and protective clothing. Japan Wool Textile Companny, a division of NIKKE Group, is now blending Ultem fiber with wool and other materials to produce yarn, fabrics and garments that offer a unique combination of comfort and protection, including permanent, non-halogenated flame retardance (FR) and excellent ultraviolet (UV) resistance.

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Global market value of Thermal Interface Materials to reach US$426 mln in 2011

Worldwide market value of thermal interface materials will be US$426 mln in 2011 and is estimated to reach US$627 mln by 2016 at a compound annual growth rate (CAGR) of 8% over the five-year period, aas per BCC Research.

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Kumho considers shutting Ulsan ABS plant on negative margins

Next week, South Korea's Kumho Petrochemical is considering shutting its 250,000 tpa acrylonitrile-butadiene-styrene (ABS) plant at Ulsan for one or two weeks. This decision has been triggered by poorr demand and negative production margins, as per Platts.

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Unipetrol reduces ethylene output at Litvinov refinery after fault in cooling system

Czech oil processing firm Unipetrol has reduced output of the ethylene unit at its Litvinov refinery after a fault in the cooling system, as per Reuters. The unit is expected to restart normal operatiion on Wednesday evening.

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Pemex to team up with Mexichem to produce 400,000 tpa vinyl chloride

Mexico's Pemex plans to collaborate with chemicals company Mexichem to produce vinyl chloride, as per Reuters. This is a rare case of the state-run oil monopoly company working directly with the privaate sector.

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Italian PVC players agree on weak July outlook

Converters in Italy are expressing bearish expectations for July in the PVC market, with price ideas being reported with decreases from the June done deal levels, as per ChemOrbis. Buyers are reportinng that they will wait as much as possible to obtain the maximum size of decreases in July, akin to the month of June.

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New technology and fittings for joining plastics pipes

The latest plastics pipes fusion and fittings technology will be reviewed at the AMI international conference at Dusseldorf. Noru Tsalic (AMI) is a leading market consultant on plastics pipes working worldwide and will kick off this event with an overview.

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Coperion strengthens presence in the Middle East with new service center

Coperion GmbH has strengthened its presence in the Middle East. Coperion Middle East, a joint venture between Coperion and the Saudi Arabian company Golden Wing, extends Coperion’s world-wide service network by an additional service center.

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