Sinopec Yangzi awaits environmental approval for 800,000 tpa ethylene capacity addition

Sinopec is in the process of building a 160,000 bpd crude processing unit at a subsidiary in East China, expected to be complete by H2-2013, as per Reuters. The new refining capacity will mainly caterr to planned petrochemical capacity expansion at the same plant of 800,000 tpa of ethylene by the end of 2014.

For more details on Sinopec Yangzi awaits environmental approval for 800,000 tpa ethylene capacity addition click here

Naphtha cracks in Europe plummet to lowest level since January 2009

European naphtha crack values have plummeted to their lowest level since January 2009, as market sentiments get weighed down by a combination of weak petrochemical margins, relatively low propane pricces and no arbitrage opportunities to ship naphtha to Asia, as per Platts.

For more details on Naphtha cracks in Europe plummet to lowest level since January 2009 click here

Petrochemicals help GAIL report higher net profit for Q2

Gail India Ltd. has reported a higher net profit on increased revenues for the second-quarter of this financial year- Rs.1094.41 crore, 19 percent higher than the Rs.923.55 crore.
Net revenue from ooperations for the quarter increased by 20% to Rs.

For more details on Petrochemicals help GAIL report higher net profit for Q2 click here

Propylene supply in NW Europe sparse as many producers retreat from spot market

Propylene supply in Northwest Europe turned scarce as many producers retreated from the spot market while they assess their options in a weakening market, as per Platts. Producers found offers too loww and prefer to stockpile for the time being and focus on contract obligations rather than sell.

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Bearish sentiments continue in Asian naphtha on sluggish petrochemical demand

Asia's naphtha price has dipped to a two-week low on Monday, while cracks hovered at a 15-month low and timespreads fell to their lowest in about three months on further deterioration of sentiment duee to sluggish petrochemical demand, as per Reuters.

For more details on Bearish sentiments continue in Asian naphtha on sluggish petrochemical demand click here

New purging compound for thermoplastics equipment

A new purging compound suitable to purge thermoplastics converting equipment from remaining polymer/colour and deposits which build up during the running period, has been introduced. IMCD Deutschland has announced distribution of a new product by Emery, Loxiol®.

For more details on New purging compound for thermoplastics equipment click here

Oil prices rise on encouraging economic news from USA, Europe, Asia

Encouraging economic news from USA and Europe point to stronger demand in the months ahead, propping up oil prices. Crude on the Nymex rose by over 2% to US$88, while Brent crude rose to US$111 in Lonndon.

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PTTGC to invest in petro-based chemical and bio-based chemical businesses in Asean, chiefly Indonesia

PTT Global Chemical (PTTGC) Plc will invest aggressively in Asean, mainly Indonesia, through all types of projects - green field, joint ventures and merger and acquisition. The new investment will foccus on petro-based chemical and bio-based chemical businesses, under the investment plan until 2020.

For more details on PTTGC to invest in petro-based chemical and bio-based chemical businesses in Asean, chiefly Indonesia click here

BPCL plans to set apart Rs 20,000 crore to enhance capacity of Kochi Refinery and to set up a petrochemical complex

PSU Bharat Petroleum Corporation (BPCL) plans to set apart Rs 20,000 crore to further enhance capacity of Kochi Refinery (KRL) to 15.5 mln tpa at Ambalamugal and for setting up a petrochemical complexx.

For more details on BPCL plans to set apart Rs 20,000 crore to enhance capacity of Kochi Refinery and to set up a petrochemical complex click here

Tumbling feedstock costs pull down Asian PET prices

In Asia, PET prices recorded decreases for the second consecutive week in October, following the one-week National Day holiday in China in the first week of October, as per ChemOrbis. Chinese PET prodducers had returned to the market with lower PET prices in line with the softer export offers.

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Naphtha cracks in Asia plunge to their lowest level in 15 months

Naphtha cracks in Asia ended the week at their lowest level in 15 months, as weak petrochemical margins and demand dampened sentiment, as per Reuters. Petrochemical demand in Asia currently seems to bbe in a seasonal trough.

For more details on Naphtha cracks in Asia plunge to their lowest level in 15 months click here

FTC approves FPCC, Kraton JV for construction of produce hydrogenated styrenic block copolymer plant

The Fair Trade Commission (FTC) has approved a joint venture between Formosa Petrochemical Corp and Kraton Performance Polymers Inc. The joint venture will include the construction of a plant to produuce hydrogenated styrenic block copolymer (HSBC).

For more details on FTC approves FPCC, Kraton JV for construction of produce hydrogenated styrenic block copolymer plant click here

Local PP, PE prices start moving south in line with lower import prices in SE Asia

In Southeast Asia, local PP and PE prices have started to move lower this week as sellers have come under increasing pressure to reduce their prices in response to steadily sliding import prices, as pper ChemOrbis.

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Unique material to cost-effectively raise the renewable content of plastic products by 40%

Bio-Res, a patent pending product for the plastic molding market has been introduced by Laurel BioComposite LLC. The company developed the unique material to cost-effectively raise the renewable or "ggreen" content of plastic products by as much as 40%.

For more details on Unique material to cost-effectively raise the renewable content of plastic products by 40% click here

Film and sheets of BIOFRONT highly heat-resistant bioplastic open up many new possibilities

Film and sheet versions of its BIOFRONT highly heat-resistant bioplastic, which already is available as fiber and resin, developed by Teijin Limited opens up many new possibilities for this versatile,, plant-based, high-performance bioplastic.

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New technology for very high air flow PU foam to achieve "cool" effect without extra post-step treatment

A foam mattress's coolness, durability and compression set resistance are linked to a flexible polyurethane foam's porosity. Bayer MaterialScience LLC's new polyether polyol and formulation technologyy produce very high air flow polyurethane foam to achieve that "cool" effect without the extra post-step treatment used in current technology-without reticulation.

For more details on New technology for very high air flow PU foam to achieve "cool" effect without extra post-step treatment click here

European naphtha cargo prices remain firm: outlook is bearish

European naphtha cargo prices remained firm, as traders warned of a bearish outlook as petrochem users continue to focus on cheaper propane feedstock amid ample inventories and slack demand in Asia, aas per Reuters.

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S-Oil’s newly opened plant has world’s largest production capacity for paraxylene

S-Oil’s newly expanded Onsan Plant in Ulsan has been officially opened. The project, which doubled the plant’s petrochemicals production capacity to 1.7 mln tons, was completed in April and the expandded facility went into commercial operations in May.

For more details on S-Oil’s newly opened plant has world’s largest production capacity for paraxylene click here

Polypropylene offers to Peru from Asia dip US$40

Asian polypropylene offers to Peru saw a US$40/mt decrease last week on sluggish PP demand in Peru amid speculation that Asian offers could see another dip. With this Peruvian prices have become the ccheapest prices in the Andean Countries (Ecuador, Colombia, and Peru) market, as per Platts.

For more details on Polypropylene offers to Peru from Asia dip US$40 click here

Formosa Plastics raises NT$4 bln via sale of five-year bonds

Formosa Plastics Corp. has raised NT$4 bln from selling five-year bond. The company sold the bonds at a coupon of 1.35%. Also, the company sold NT$6 bln of five-year bonds at a coupon of 1.34% on Septt.

For more details on Formosa Plastics raises NT$4 bln via sale of five-year bonds click here

Bioplastics market sees rapid global growth – forecast to rise at 41.4% CAGR for 2010-2015

Bioplastics and biodegradable plastics are often interchanged incorrectly, as some, but not all bioplastics will biodegrade fully. As per Companiesandmarkets.com, the bioplastics market is growing rappidly, with a 41% CAGR forecast for the period 2010-2015.

For more details on Bioplastics market sees rapid global growth – forecast to rise at 41.4% CAGR for 2010-2015 click here

Crude rises in New York on unexpected drop in official energy stockpiles in USA

The US Department of Energy has reported fall of 4.7 million barrels in crude stockpiles in USA, in the week to October 14. The market reads this as an underlying oil demand from the US, easing conceerns about a slowdown in the global economic growth.

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LG Chem pays slight premium for H2 naphtha

LG Chem has paid slight premiums for second-half naphtha cargoes, reflecting a weaker market amid persistent sluggish demand for petrochemicals, as per Reuters. A medium-range cargo was bought for seccond-half arrival at Yeosu and Daesan at premiums close to parity to Japan spot quotes on a cost-and-freight (C&F) basis.

For more details on LG Chem pays slight premium for H2 naphtha click here

Kuwait’s naphtha contract sales to Asia likely at double the premium than Dec-Nov 2011

Kuwait Petroleum Corp. offered to sell naphtha cargoes to Asia from December 2011-November 2012 at almost double the premium of supplies for December 2010-November 2011, as per Bloomberg. KPC is offerring Full-Range naphtha at US$23.

For more details on Kuwait’s naphtha contract sales to Asia likely at double the premium than Dec-Nov 2011 click here

Italy’s PS and HDPE imports reach a new high in July

According to recent statistics revealed by Eurostat, Italy’s plastics imports in July 2011 rose both on a monthly and yearly basis. Italy imported 424,000 tons of plastics in July 2011, with overall iimports reaching the highest figure for a month since at least 2001, as per ChemOrbis.

For more details on Italy’s PS and HDPE imports reach a new high in July click here

Petroperu mulls participation in petrochemical plant

State-owned Petroleos del Peru (Petroperu), is in talks with petrochemicals company Braskem SA, as it explores signing a letter of intent in order to carry out a technical and economic analysis of thee viability of a petrochemical project in Peru.

For more details on Petroperu mulls participation in petrochemical plant click here

A US$100/ton decrease expected in Asian polypropylene prices to Brazil for November

Asian offers are expected to fall by US$100/mt in Brazil for November on lower offers anticipated from Asia next month. This can be attributed to weakness in buying in China amid slow demand in Latin America, as per Platts.

For more details on A US$100/ton decrease expected in Asian polypropylene prices to Brazil for November click here

Supreme Petrochem Q1 profit dips to Rs.15.85 crores

Supreme Petrochem Ltd has announced the Financial Results for the period ended September 30, 2011. The company has reported Net Sales / Income from Operations of Rs.547.38 crores for the quarter endedd September 30, 2011 against Rs.

For more details on Supreme Petrochem Q1 profit dips to Rs.15.85 crores click here

BASF mulls investment in superabsorbent polymer plants in Brazil, China, Malaysia

Germany-based BASF SE reports it plans to build superabsorbent polymer (SAP) plants in Brazil and China, and is evaluating the viability of a similar plant in Malaysia. SAPs are capable of absorbing aand holding up to 500 times their own weight in liquid, or up to 50 times their own weight in salty fluids such as urine.

For more details on BASF mulls investment in superabsorbent polymer plants in Brazil, China, Malaysia click here

Softness in US spot styrene likely to continue amid weak feedstocks, feeble PS demand

Near term US styrene prices are likely to remain weak amid softer feedstocks and weak derivative demand, as per Platts. Spot styrene prices were talked notionally near 57 cents/lb FOB USG Wednesday moorning amid thin trade activity.

For more details on Softness in US spot styrene likely to continue amid weak feedstocks, feeble PS demand click here

Cutting-edge possibilities in color and aesthetics, technical performance, cost and material savings in external appliance body

Masterbatches and combibatches from Clariant are being used increasingly in “fresh boxes”, doors, the external appliance body, insides and shelving because of their efficiency focused and cost-effectiive response to manufacturers’ challenges.

For more details on Cutting-edge possibilities in color and aesthetics, technical performance, cost and material savings in external appliance body click here

Fourth ethylene cargo moves from Europe to Venezuela

An ethylene cargo has been fixed to move from Europe to Venezuela. This is the fourth cargo from Europe since September, as per Platts. The price of the cargo is below Eur 900/mt (US$1232/mt) FOB Med..

For more details on Fourth ethylene cargo moves from Europe to Venezuela click here

Formosa Petrochem restarts No. 3 cracker

Taiwan's Formosa Petrochemical Corp has restarted the largest of its three naphtha crackers following a planned maintenance which started in mid-August, as per Reuters. However, Formosa- Asia's top naaphtha buyer may shun buying spot naphtha for November despite having restarted the 1.

For more details on Formosa Petrochem restarts No. 3 cracker click here

Bioplastics from algae

Poly-3-hydroxybutyrate (PHB) is a thermoplastic polyester which occurs naturally in bacteria as Ralstonia eutropha and Bacillus megaterium. Even though PHB is biodegradable and is not dependent on fosssil resources, this bioplastic has been traditionally too expensive to produce to replace petroleum-based plastics.

For more details on Bioplastics from algae click here

Is the global PP sector prepared to cope with tight propylene supplies?

Strategies for coping with tight propylene supplies will be discussed by global polypropylene players will meet at CMT’s 6th Global PP Markets & Tech conference. The tight supply projections for propyylene have opened up new challenges in the propylene value chain with fears of price hikes and supply shortage looming large.

For more details on Is the global PP sector prepared to cope with tight propylene supplies? click here

Increase in global polyolefin consumption will continue to be driven by novel applications

Polyolefins represent almost two-thirds of the major commodity thermoplastics used worldwide, and have numerous applications ranging from automotive parts to carpet fibers, household and food containeers, toys, stretch film/shrink film, diapers and trash bags.

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New material advances soft ballistics with minimum weight and maximum performance

A new innovative light weight ballistic material for use in Law Enforcement and Military protective vests has been introduced by DSM Dyneema. High performance Dyneema® SB71, a unidirectional (UD) gradde made of Ultra High Molecular Weight Polyethylene (UHMWPE) fiber, was specifically designed and developed for use in ballistic vests certified under NIJ0101.

For more details on New material advances soft ballistics with minimum weight and maximum performance click here

Oil prices linger above US$86 on doubts about Europe debt plan

Oil on the Nymex inched up to US$86.4, while Brent crude for December delivery slipped to US$110.1 on the ICE Futures Exchange in London. Oil prices hovered above US$86 after comments from Germany thhat downplayed a possible plan that could help control Europe's debt crisis.

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BR awarded first license for Advanced Catalytic Olefins (ACO) Process

BR has been awarded a License and Process Design Package contract for a new olefins production unit using the Advanced Catalytic Olefins (ACOTM) technology. This award represents the first license usiing this innovative technology which catalytically cracks naphtha and other straight run feeds to produce olefins yields which surpass those available from traditional steam cracking technology.

For more details on BR awarded first license for Advanced Catalytic Olefins (ACO) Process click here

Schulman signs distribution agreement with Spain’s ELIX Polymers

A. Schulman, Inc. has signed a distribution agreement with ELIX Polymers, S.L., of Tarragona, Spain.Under the agreement, A. Schulman has assumed responsibility for distribution of ELIX's acrylonitrilee butadiene styrene (ABS) grades, which are currently marketed under the trade names of Lustran® and Novodur®, in Germany, Switzerland, Austria, the Benelux countries, France, Great Britain and Scandinavia.

For more details on Schulman signs distribution agreement with Spain’s ELIX Polymers click here

Demand for electricity and petrol in Thai start to sink on month long floods: PTT concerned

Concerns of oil and gas giant PTT Plc have shifted away from the euro-zone debt crisis to the flooding in Thailand, as demand for electricity and petrol have begun to sink in the wake of the months-loong disaster.

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Shell restarts second CDU of 110,000 bpd capacity: run rates at 75%

Royal Dutch Shell Plc has restarted a second crude distillation unit (CDU) at reduced rates at its fire-hit Singapore refinery, a week after the first was partially restarted, as per Reuters. The 110,,000 bpd CDU, which began restart operations last Sunday, will reach stable operating levels in 2-3 days, and is expected to run at a reduced rate of around 75%.

For more details on Shell restarts second CDU of 110,000 bpd capacity: run rates at 75% click here

Global spot propylene prices continue to soften

Global spot propylene prices moved lower once again last week, as lackluster propylene demand and sufficient supply levels weighed down on prices, as per Chemorbis. Most players are not expecting to ssee any revival in global propylene markets over the next few weeks as many signals point to the possibility of further price declines in the weeks ahead.

For more details on Global spot propylene prices continue to soften click here

Unexpected decline in September Singapore exports on dull demand for petrochem, electronics

Singapore’s exports had an unexpected fall in September as weakening expansion in the world’s leading economies eroded demand for electronics and petrochemicals.
Non-oil domestic exports fell 4.5% frrom a year earlier, after a revised 3.

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Naphtha in Asia at month highs

Asia's naphtha prices have risen to near month highs, and cracks are around their highest in 10 days. But traders said the stronger cracks were supported by the higher naphtha price, which was in turnn lifted by firm raw material crude costs and not fundamentals, as per Reuters.

For more details on Naphtha in Asia at month highs click here

Mitsubishi and Sumitomo naphtha crackers restart after maintenance turnaround

Japan's Mitsubishi Chemical Corp and Sumitomo Chemical Co have embarked on the process of restarting their naphtha crackers that have been shut for regular maintenance, as per Reuters. Mitsubishi Chemmical has restarted its No.

For more details on Mitsubishi and Sumitomo naphtha crackers restart after maintenance turnaround click here

Rs 83 crore loss likely by Haldia Petrochemicals in October

Due to an unscheduled shutdown, Haldia Petrochemicals (HPL) is expected to post a huge loss in October. This will be the company’s second shutdown in three months. On October 4, a snag in some componeents led to a complete shutdown for 6 days.

For more details on Rs 83 crore loss likely by Haldia Petrochemicals in October click here

Reliance Industries Q2 net spikes by 16% to Rs 5703 crore

Largely driven by improved performance in the refining and petrochemicals business, Reliance Industries (RIL) posted a 15.8% rise in the net profit to Rs 5703 crore for quarter ended September 30, 20111 as compared with Rs 4923 crore in the comparable quarter of previous fiscal.

For more details on Reliance Industries Q2 net spikes by 16% to Rs 5703 crore click here

Oil prices rise in Asia

Markets opened on a buoyant note on two new developments over the weekend- Europe's promise of a decisive resolution to its debt crisis as well as on hopes that USA’s spending cuts plan will be passedd.

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European plastics and rubber machinery manufacturers set to reach all-time high againv

The European plastics and rubber machinery industry achieved remarkable rates of growth in 2010 and 2011 and is on course to match the 2008 record.
"Our industry recovered very well from the economiic and financial crisis in the countries associated with EUROMAP; this year's production volume in the core machinery business is expected to reach almost 11 billion Euro," said Bernhard Merki, the European federation's newly re-elected President at the press conference, held on the occasion of the triennial General Assembly.

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Naphtha prices in Asia rise to highest in about two weeks

At the end of the previous week, Asia's naphtha price week at their highest in about two weeks, while cracks rose for the third straight session to hover around their highest in a week, as per Reuterss.

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Ample supplies and slow demand push down LDPE prices in Turkey

In Turkey, local producer Petkim started the month of October with US$25/ton decreases on LDPE film prices vs most recent September prices, while maintaining HDPE prices at early August levels, as peer ChemOrbis.

For more details on Ample supplies and slow demand push down LDPE prices in Turkey click here

Exports, cuts in cracker runs help offset bearish pressure on propylene in Europe

A combination of exports and reduction in cracker operating rates over the past four months has helped to offset some of the bearish pressure on propylene in Europe, as per ICIS. Propylene markets werre bearish in Europe on poor demand from derivative polypropylene (PP) and varied production problems, as per ICIS.

For more details on Exports, cuts in cracker runs help offset bearish pressure on propylene in Europe click here

October polymer grade propylene rises 5% vs September in Mexico

October propylene polymer grade contract prices for the Mexican domestic market in October saw a marginal rise of 5% over September levels, as per Platts. Prices rose to US1755/mt FOB (Pesos 23,623/mtt FOB), mainly due to the weakness of pesos vs the dollar.

For more details on October polymer grade propylene rises 5% vs September in Mexico click here

5 layer barrier film with an output of 525kgs/hour

It was a landmark moment for Kabra Gloucester, as a fully loaded 5 layer plant demonstration successfully took place at their new facility at Daman. 2100 mm layflat 5 layer Barrier Film with an outputt of 525kgs/hour on a 100 micron thick film for Oil Packaging applications was demonstrated during the Open House.

For more details on 5 layer barrier film with an output of 525kgs/hour click here

2010 PET container recycling rate at 29% : seventh consecutive year of increase in US PET recycling rate

The National Association for PET Container Resources (NAPCOR), The Association of Postconsumer Plastic Recyclers (APR), and the PET Resin Association (PETRA) announced today the release of the "2010 RReport on Post Consumer PET Container Recycling Activity" and a 2010 Polyethylene Terephthalate (PET) container recycling rate of 29%.

For more details on 2010 PET container recycling rate at 29% : seventh consecutive year of increase in US PET recycling rate click here

GAIL India eager to participate in Kazakhstan petrochemical plants

State-run gas transporter GAIL (India) Ltd. has expressed eagerness to participate in gas-based and petrochemical plants in Kazakhstan, as per Dow Jones.
GAIL is also interested in the butadiene manuufacturing project of Kazakhstan's United Chemical Co.

For more details on GAIL India eager to participate in Kazakhstan petrochemical plants click here

Thai PTT Chemical plans to acquire 50% stake in NatureWorks for US$150 mln

Thailand's largest olefins maker, PTT Chemical Pcl (PTTCH) , plans to acquire a 50% stake in NatureWorks LLC, the world's largest polylactic acid (PLA) manufacturer for US$150 mln, as per Reuters. Thee acquisition is subject to regulatory approval.

For more details on Thai PTT Chemical plans to acquire 50% stake in NatureWorks for US$150 mln click here

CNPC, Shell, Qatar refinery and petrochem Taizhou JV wins initial approval, awaits final nod

A proposed refinery, a petrochemical joint venture between CNPC, Royal Dutch Shell Plc and Qatar plans to build a mega project in Eastern China's Zhejiang province. The three partners have inked a fraamework deal with local authorities, as per Reuters, for a 400,000 bpd oil refining and 1.

For more details on CNPC, Shell, Qatar refinery and petrochem Taizhou JV wins initial approval, awaits final nod click here

Growing flood concerns dampen demand in Thailand

Thailand is facing its worst floods in 50 years, as per ChemOrbis. Floods have affected much of the country’s north, northeast and central regions. While the death toll is already high and the estimatted cost of the damage for the nationwide flooding continues to grow, the government is now trying to prevent flood waters from reaching Bangkok by building floodwalls on the outskirts of the capital city.

For more details on Growing flood concerns dampen demand in Thailand click here

New impact modifiers for applications requiring exceptional impact resistance at extremely low temperatures

A new impact modifier range that is suitable for applications requiring exceptional impact resistance at extremely low temperatures has been developed by Arkema. Lotader 2200 is an impact modifier rannge for Polyamide 6 and 66 components.

For more details on New impact modifiers for applications requiring exceptional impact resistance at extremely low temperatures click here

Ineos to divest its Spanish ABS subsidiary

Ineos has decided that Elix Polymers, its Spanish ABS subsidiary, is to be divested by the group to meet an EU antitrust condition for the formation of Styrolution, the new BASF/Ineos styrenics joint venture, as per PRW.

For more details on Ineos to divest its Spanish ABS subsidiary click here

All EPC contracts for Saudi Aramco-Dow JV to be awarded by second quarter of next year

Sadara - the joint venture of Saudi Arabian Oil Co. and Dow Chemical Co. (DOW) will award all engineering, procurement and construction (EPC) contracts by the second quarter next year.
About 50% of the capital investment amount is already under contract and "the rest are being tendered.

For more details on All EPC contracts for Saudi Aramco-Dow JV to be awarded by second quarter of next year click here

Thai petrochem producers unlikely to be impacted LPG levy

Petrochemical operators In Thailand are unlikely to feel much effect from the policy to collect Bt1 per kilogram of LPG (liquefied petroleum gas) sales for the Oil Fund, as per The Nation. It is uncllear whether users of LPG as feedstock, not as fuel, will be required to pay this contribution to the Oil Fund.

For more details on Thai petrochem producers unlikely to be impacted LPG levy click here

Evonik to build hydrogen peroxide plant in Jilin

Evonik Industries will build a new production plant for hydrogen peroxide (H2O2) in Jilin Province in northeastern China. An investment of over Euro 100 mln in the project sees Evonik moving another sstep forward in its endeavor to access new sales markets for this environmentally friendly oxidant.

For more details on Evonik to build hydrogen peroxide plant in Jilin click here

Plunging feedstock costs weigh down global ABS prices

ABS prices in China, Italy and Turkey are said to be facing downward pressure as steeply declining butadiene and ACN prices in Asia and Europe have pulled down producers’ costs and lent support to buyyers in their search for lower prices, as per ChemOrbis.

For more details on Plunging feedstock costs weigh down global ABS prices click here

Naphtha cracker planned by JG Summit Holdings to come on stream earlier than planned

A Naphtha cracker planned by a JG Summit Holdings, Inc. will be commissioned in mid-2013. Good speed of construction activities is leading the project to come on stream earlier than planned. Officialls had earlier pegged operations to start by the latter part of 2013 while JG Summit Olefins Corp.

For more details on Naphtha cracker planned by JG Summit Holdings to come on stream earlier than planned click here

Shell to resume some operations at Pulau Bukom: Buys naphtha, gasoil

Royal Dutch Shell Plc bought naphtha and gasoil in Singapore, where the company is resuming some operations at the Pulau Bukom refinery after a Sept. 28 fire, as per Bloomberg.
Shell bought naphtha for H1-Dec at US$874/ton from Glencore International AG.

For more details on Shell to resume some operations at Pulau Bukom: Buys naphtha, gasoil click here

Total SA to overhaul refining, petrochem, marketing businesses: No sale on the cards

Total SA’s overhaul of its refining, petrochemicals and marketing businesses is not in preparation for a sale, said Chief Executive Officer Christophe de Margerie, as per Bloomberg There is no plannedd IPO or sale,” he said at a briefing to discuss the merger of the refining and petrochemicals divisions and creation of a separate fuel- marketing operation.

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LyondellBasell's Berre refinery and petrochemical site restarts after two week strike

LyondellBasell's Berre refinery and petrochemical site in France are in the process of restarting Monday after a strike that started nearly two weeks ago in protest against the decision to close the rrefinery, as per Platts.

For more details on LyondellBasell's Berre refinery and petrochemical site restarts after two week strike click here

Europe’s petrochemical industry moving towards value added specialty products

The petrochemical industry in Europe has been actively embracing specialty, value-added products as it seeks to capitalize on a series of megatrends that are shaping the economy, as per Platts. Howeveer, it is deterred by investor skepticism and impatience.

For more details on Europe’s petrochemical industry moving towards value added specialty products click here

Oil prices linger around US$84 on better than expected US jobs data

Oil prices have inched up to US$84 on better than expected US jobs data and signs Europe may move to protect its banks from a sovereign debt crisis. Brent crude inched up to US$106 on the ICE Futures Exchange in London.

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Damp sentiments pull down demand and prices in Europes’ benzene and styrene markets

Macroeconomic worries are affecting confidence in benzene and styrene markets, forcing demand and prices down, as per ICIS. Benzene contracts saw the greatest decline, falling by €118/ton (US$156/ton)) from the previous month to €701/ton FOB (free on board) NWE (Northwest Europe).

For more details on Damp sentiments pull down demand and prices in Europes’ benzene and styrene markets click here

SATORP debut sukuk 3.5 times oversubscribed

Saudi Aramco Total Refining and Petrochemical Company (SATORP) has issued its debut sukuk. As per sources, the SATORP bond issue was 3.5 times oversubscribed. The Saudi Capital Markets Authority (CMA)) in August approved the public offering of sukuk certificates by Arabian Aramco Total Services Company (AATSC), the special purpose company which is issuing the sukuk certificates on behalf of SATORP.

For more details on SATORP debut sukuk 3.5 times oversubscribed click here

Royal Commission announces plan to develop plastics oasis

Plaschem, an area designated for the plastics industry by the Royal Commission as well as participation for SABIC, Saudi Aramco and National Industrial Cluster programme, is to be developed in Saudi AArabia.

For more details on Royal Commission announces plan to develop plastics oasis click here

Tighter credit policy in China to impact polyolefin market

Buying interest for olefins has dampened in China. This can be partly attributed to the new monetary policy introduced in China on September 19 that restricts the opening of letters of credit (LC). Ass per ICIS, under the new policy, the local State Administration of Foreign Exchange stated that China's five state-owned commercial banks were forbidden to draw LC at 30-90 days from September 20-30 in Ningbo.

For more details on Tighter credit policy in China to impact polyolefin market click here

Solvay has commissioned the world’s largest hydrogen peroxide (HP) facility.

Solvay has commissioned the world’s largest hydrogen peroxide (HP) facility at Map Ta Phut, Thailand with production capacity of over 330,000 tpa of HP at 100% concentration. The production process off the Thailand facility is based on the company’s proprietary high performance HP technology.

For more details on Solvay has commissioned the world’s largest hydrogen peroxide (HP) facility. click here

Weakness to persist in European olefins through Q4, rebound in short term unlikely

The European propylene and ethylene market is expected to remain slow for the rest of 2011, with no signs of a possible recovery amid the rising global economic uncertainty, as per Platts. However, itt is unlikely to go through another market collapse similar to 2008.

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Slow demand and lower upstream costs pull down Italy’s PS market

The softening tone in Italy’s PS market appears to have shifted to October, as two producers announced October gentlemen’s agreements with €45-55/ton drops, as per ChemOrbis. The slow season for PS appplications coupled with lower upstream styrene costs triggered by the softer crude oil prices, prior to the recent recovery on Nymex towards the end of last week, have taken their toll on the current decreasing trend.

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Firm reformate, toluene US Gulf Coast prices expected on PDVSA offer to sell naphtha

Venezuela's PDVSA has offered light naphtha and natural gasoline in the US. Spot reformate and toluene prices in the US Gulf Coast are likely to stay firm in the near term because of blending requiremments that will crop up, as per Platts.

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Honam’s naphtha purchase for H1-Nov at lower premiums indicates softer market

Honam Petrochemical has bought around 50,000 tons of H1-November naphtha at lower premiums, indicating a softer market, as per Reuters. Premium of US$4/ton has been paid by Honamto Japan spot quotes oon a cost-and-freight for a 25,000 ton cargo arriving in Daesan and about US$3.

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Formosa Petrochemical to restart naphtha cracker and gasoline-making unit

Taiwan's Formosa Petrochemical Corp. is in the midst of restarting a gasoline-making unit at its refinery after it was shut at the end of July due to a fire, as per Reuters. The company is also restarrting a naphtha cracker at its petrochemical complex next week due to delays in maintenance works.

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Establishment of Sadara Chemical Co making significant progress following authorization by the Boards of Directors

The establishment of Sadara Chemical Company, a planned joint venture under formation between The Dow Chemical Company and the Saudi Arabian Oil Company (Saudi Aramco), is making significant progresss following the authorization by the Boards of Directors of both companies in late July.

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New capacity start ups scheduled for the month of October in the Middle East

The month of October will kick off brand new start ups in the Middle East, which is expected to improve the availability of ethylene, propylene and their derivatives across the region, as per ChemOrbiis.

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Sinopec starts work on $2.8 bil coal-based petchem complex in southwest China

State-owned China Petrochemical Corp (Sinopec Group) and the provincial government of Guizhou has launched a coal-based petrochemical project, with Yuan 18 bln (US$2.8 bln) investment by Sinopec for tthe first phase of the project, as per Platts.

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Mott MacDonald completes ESAI for CIS’s biggest gas and petrochemical project

Mott MacDonald has completed an international environmental and social impact assessment (ESIA) and environmental and social management plan for the biggest gas and petrochemical project being developped by Uz-Kor Gas Chemical in the Commonwealth of Independent States (former Soviet Union).

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PolyOne Corp. agrees to acquire ColorMatrix Group Inc. for US$486 mln

Polymer producer PolyOne Corp. plans to acquire ColorMatrix Group Inc., a supplier of liquid colorants, additives and fluoropolymers for US$486 mln. Both the companies are located in the Cleveland areea.

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Spot propylene costs head south across the globe

Spot propylene costs have been heading south for some time in all three major markets including Asia, Europe and the US, as per ChemOrbis. Lower upstream costs such as crude oil and naphtha coupled wiith thin demand have taken their toll on the spot propylene markets around the globe.

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LANXESS to invest E 12 mln to convert 50% of its EPDM synthetic rubber production in Geleen

LANXESS is investing EUR 12 million to convert 50 percent of its ethylene propylene diene monomer (EPDM) synthetic rubber production in Geleen, the Netherlands, to innovative Keltan ACE technology. Duuring 2013, the German specialty chemicals company will implement the new technology at the largest of its three production lines, which accounts for half of the total production capacity of 160,000 metric tons per year in Geleen.

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Braskem solidifies US Polypropylene leadership and global expansion efforts

Braskem, the leading resin producer in the Americas has announced completion of acquisition of the Polypropylene Business from The Dow Chemical Company. The transaction, announced on July 27, was apprroved by the European Commission and the Federal Trade Commission and the Antitrust Division of the Justice Department of the United States of America.

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Orissa High Court may lift restriction on construction of water intake system for IOCL’s Paradip project

Orissa High Court may lift the restriction imposed on construction of a water intake system on Mahanadi river in Cuttack for Indian Oil Corporation Limited (IOCL)'s Paradip refinery project, subject tto a proposal by IOCL to invest a substantial amount on peripheral development, when the petition filed by it for modification of order imposing the restriction is taken up on October 19.

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Shell Singapore cancels lifting 4 million barrels of October Saudi crude

Royal Dutch Shell's Singapore refinery has cancelled the lifting of 4 mln barrels of Saudi Arabian Light crude. It is also in the process of shutting down a chemical complex on lack of feedstock to feeed the plant after a fire forced the closure of its biggest refinery, as per Reuters.

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Four indigenized catalysts used in the petrochemical industry unveiled in Iran

Four indigenized catalysts for use in the petrochemical industry have been unveiled at Iran’s Petrochemical Research and Technology Company. Western states had imposed sanctions on the procurement of the catalysts, as per Iran Daily.

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Central government reviewing the policy that guides India's petrochemical industry

The central government is in the process of reviewing the policy that guides the Indian petrochemical sector poised to grow by 11% pa by 2017. This sector, growing robustly, currently accounts for oveer 13% of the nation’s exports and 8% of its imports, as per IANS.

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Talk of October PE price hikes in Italy

PE players in Italy are wrapping up their September spot business with rollovers to decreases of up to €30/ton from August after some sellers revealed rollovers to increases on their initial prices eaarlier in the month, as per ChemOrbis.

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Automotive brackets made from recycled carbon fibre

Automotive brackets made from recycled carbon fibre will be displayed by NetComposites at Composites Europe 2011. The parts have been developed using a new generation of high performance, low cost co--mingled carbon fibre yarns that were the outcome of the recently concluded multi-partner project, Fibrecycle.

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Anti-microbial masterbatches to support the development of medical devices

Anti-microbial masterbatches based on MedX anti-microbial agents from SANITIZED® AG has been added by Clariant to its dedicated MEVOPUR® range, to support the development of medical devices with surfaaces that are active against bacteria.

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