Pennsylvania plans US$490000 outlay for possible location of new gas drilling petrochem refinery

The state of Pennsylvania plans to spend $490,000 for improvements at an industrial park that could be a location for a huge new gas drilling petrochemical refinery. The Beaver County Times reports thhat the state will improve two out-of-service rail tracks to the Aliquippa Industrial Park.

For more details on Pennsylvania plans US$490000 outlay for possible location of new gas drilling petrochem refinery click here

Chinese polyolefin buyers cautious in their March outlook

Chinese PP and PE buyers are expressing caution in their market outlooks for March, as per ChemOrbis. Buyers complained that demand for their end products has not been as good as anticipated after thhe holidays.

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Persistent rise in Asian polyethylene offers to Brazil

Asian polyethylene offers to Brazil witnessed a US$20-50/mt rise week on week, as per Platts. The import market has been slow this week due to the Carnival holiday in Brazil. As per a trader, Braskem announced a hike of Reals 250/mt in polyethylene offers for the domestic market which could lead to a healthy import market next week.

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State Bank of India, Indian Oil Corp. ask for a place on the board of Haldia Petrochemicals Ltd

State Bank of India and Indian Oil Corporation Ltd have asked for a place on the board of Haldia Petrochemicals Ltd (HPL), seeking a larger say in the project, as per The Telegraph. IOC has around 9.66 per cent stake in HPL, while the SBI is the leader of the lenders’ consortium for a working capital loan of more than Rs 1,000 crore.

For more details on State Bank of India, Indian Oil Corp. ask for a place on the board of Haldia Petrochemicals Ltd click here

Size, strategy and performance of Europe's leading masterbatch producers

Since a previous edition of "Corporate performance and ownership among masterbatch producers - A review of Europe's 50 largest players", the industry has been through a dramatic period of upheaval cauused by the global financial crisis of 2008 compounded by underlying slower growth for masterbatch because of the increasing maturity of the business.

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PET recycling technology of the future

A unique process has become the world's most successful PET recycling technology within only a short space of time: the patented VACUREMA® technology from Austria's plant engineering specialists EREMAA.

For more details on PET recycling technology of the future click here

More exhibitors at NPE 2012, larger booths, more equipment, more resin suppliers, more visitors

With five weeks left before opening day, the NPE2012 international plastics exposition is on course to be a huge, dynamic event, in line with NPE successes of the past and substantially stronger than the last NPE in 2009, it was announced today by SPI: The Plastics Industry Trade Association, which produces the triennial trade show.

For more details on More exhibitors at NPE 2012, larger booths, more equipment, more resin suppliers, more visitors click here

Chevron defers expansion of natural gas processing plant in Nigeria, explores shale in China

Chevron Corp has pushed back the expansion of a natural gas processing plant in Nigeria, originally slated for this year, by another three years, according to its annual report, which also revealed itt was exploring for shale gas in China, as per Reuters.

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Honam, Titan, Formosa buy 205,000 tons of naphtha for H1-April: demand improving in Asia

Taiwan's Formosa bought about 100,000 tons of naphtha for H1-April arrival followed by purchase of an equal volume by South Korea's Honam and Malaysia's Titan, signaling healthy demand in Asia, as perr Reuters.

For more details on Honam, Titan, Formosa buy 205,000 tons of naphtha for H1-April: demand improving in Asia click here

Naphtha crack spread in Asia widens

Asia’s naphtha crack spread widened from the lowest in four days, signaling higher profit for refiners making the petrochemical feedstock, as per Bloomberg. Japan naphtha’s premium to London-traded Brrent crude futures rose to US$122.

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SAAC-Persero ink MOU to evaluate economic feasibility of integrated refining and petrochem project in Tuban

Saudi Aramco Asia Company Limited (SAAC), a subsidiary of Saudi Aramco, and PT Pertamina (Persero) signed a Memorandum of Understanding to jointly evaluate the economic feasibility of building an inteegrated refining and petrochemical project in Tuban in East Java, in the Republic of Indonesia.

For more details on SAAC-Persero ink MOU to evaluate economic feasibility of integrated refining and petrochem project in Tuban click here

Benzene in Asia continues to fall despite crude oil gains

Despite gains in crude oil prices, benzene prices in Asia fell by five dollars day on day on February 23 to US$1194.50/mt FOB Korea, in light trade. Front month ICE Brent crude futures rose by over a dollar day on day to US$122.

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Special events for NPE2012 ‘Super Sunday,’ culminating in opening gala

To usher in what promises to be a resurgent NPE exposition, SPI: The Plastics Industry Trade Association has organized NPE2012 “Super Sunday,” a day full of networking opportunities, social events, annd presentations by top business leaders, SPI announced today.

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One step process to create plastics from biomass using iron sphere catalyst

It is now possible to produce plastics without the use of petroleum, thanks to a new type of catalyst enabling efficient conversion to key components of various products including plastics, medicines and paint.

For more details on One step process to create plastics from biomass using iron sphere catalyst click here

HPCL offers larger naphtha volumes for March

After ONGC, India's Hindustan Petroleum Corp Ltd (HPCL) is now offering more March naphtha volumes from Mumbai in view of the strong market, as per Reuters. Usually, HPCL sells two cargoes out of Mumbbai and one cargo from Vizag.

For more details on HPCL offers larger naphtha volumes for March click here

SK Group inks deal for petrochem complex in China with Sinopec and British Petroleum

SK Group has inked a deal to be part of a project to build a major petrochemical complex in China with Sinopec and British Petroleum, with production facilities for butanediol, acetic acid and ammoniaa in the southwestern Chinese city of Chongqing.

For more details on SK Group inks deal for petrochem complex in China with Sinopec and British Petroleum click here

Taiwan’s CPC Corp. to form an alliance with Japan’s Mitsubishi

In a bid to gain better access to raw materials and technologies, Taiwan’s state-run oil refiner CPC Corp. will enter into a strategic alliance with Japan's Mitsubishi Corp. Hwang Dang-hsiang, the heaad of CPC Corp.

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Polymer markets buoyant in Thailand

Asia is beginning to see the bullish sentiment weaken. However, local markets in Thailand continue to retain their firm stance as PP and PE prices move higher, as per ChemOrbis. Many converters from ddifferent sectors are showing willingness to buy more despite the ongoing rise in prices, on firm end product demand.

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Indian Oil Corp offers rare volume of 40,000 tons naphtha from Dahej

State-owned Indian Oil Corp. has offered a rare volume of 38,000-40,000 tons naphtha for loading from Dahej on India's West Coast via a spot sell tender, as per Platts. Typically, IOC offers 35,000 toons of naphtha for loading from Dahej, with a plus/minus 5% buyers' option on volume.

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Eurozone finance ministers seal deal on a massive new bailout for Greece: oil prices rise

New York's main contract, light sweet crude for delivery in March rose to almost US$105, Brent North Sea crude for April delivery inched past US$120. Oil prices surged on news of eurozone finance miniisters signing a deal on a massive new bailout for Greece.

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Systems call for the machine to pump as much oil needed to run the cycle

The Power Miser systems only call for the machine to pump for as much oil that is needed to run the cycle. Therefore the machine is saving oil and energy.
Fixed pump IMMs are about 40-60% inefficiennt.

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Brückner Group’s Review of the Plastindia 2012

Incredible India, one of the fastest growing economies is pushing efforts to improve the supply of food and other consumer goods which in turn are main drivers within the packaging industry. “Infinitee Opportunities”, this year’s slogan of the PlastIndia has been the leading motto for the Brückner Group’s attendance presenting its innovative solutions for the plastic processing industry, held at New Delhi from Feb.

For more details on Brückner Group’s Review of the Plastindia 2012 click here

Milacron expands production of Magna Servo Machines to USA from India

Milacron Plastics Technologies, a U.S.-based, worldwide supplier of plastics-processing technologies, recently expanded the production of its Magna Servo injection molding machines from India to incluude the United States.

For more details on Milacron expands production of Magna Servo Machines to USA from India click here

Clariant increases awareness for necessary global regulatory affairs compliance with Indian supply partners

Clariant is committed to ethical and sustainable operations in all business activities. A two day seminar, hosted by Clariant, was attended by around 90 partners and potential suppliers to increase thhe awareness of their responsibilities.

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ExxonMobil gets record €3.3 mln penalty for failing to report CO2 from Fife Ethylene Plant

ExxonMobil did not report approximately 30,000 tons of carbon dioxide (CO2) emissions from its Scottish Fife Ethylene Plant, resulting in a record €3.3 mln fine from the Scottish Environment Protectioon Agency (SEPA).

For more details on ExxonMobil gets record €3.3 mln penalty for failing to report CO2 from Fife Ethylene Plant click here

Spot ethylene rises in Asia, propylene slides

Last week saw spot ethylene prices in Asia posted strong gains over the past week while spot propylene prices have lost ground, as per ChemOrbis. Bullish sentiment and comparatively tight supply weree said to be supporting the ethylene market while lackluster derivative demand weighed down on propylene prices.

For more details on Spot ethylene rises in Asia, propylene slides click here

Aramco, Sumitomo may defer a US$6 bln expansion plan of Rabigh JV

Saudi Arabian Oil Co. and Sumitomo Chemical Co. may postpone a US$6 bln plan to expand their joint-venture petrochemical plant in the Red Sea town of Rabigh, as per HSBC Holdings Plc. Sumitomo may seeek to delay the expansion due to financial concerns.

For more details on Aramco, Sumitomo may defer a US$6 bln expansion plan of Rabigh JV click here

Formosa mulls reduction of crude oil imports from Iran to cooperate with US and European efforts

Formosa Petrochemical Corp is considering a reduction in crude oil from Iran in cooperation with US and European efforts to choke off Iran's oil revenue over the nation's nuclear program, as per Dow Jones.

For more details on Formosa mulls reduction of crude oil imports from Iran to cooperate with US and European efforts click here

Aramco, Pertamina mull refining, petrochem project

Saudi Aramco Asia Co Ltd (SAAC) has signed an initial deal with Indonesia's state energy firm, PT Pertamina to mull building a refining and petrochemicals project in Indonesia, as per Reuters. Under tthe Memorandum of Understanding (MOU), Aramco and Pertamina will undertake a feasibility study first to jointly build a refinery and petrochemicals project in Tuban in East Java.

For more details on Aramco, Pertamina mull refining, petrochem project click here

Assam Petrochemicals plans to build methanol, acetic acid plants by end 2014

Assam Petrochemicals plans to build a 500,000 tpa methanol and a 200,000 tpa downstream acetic acid plant in Namrup, by the end of 2014, as per Platts.
Natural gas from Assam will be used as feedstoock for the methanol project.

For more details on Assam Petrochemicals plans to build methanol, acetic acid plants by end 2014 click here

Singapore exports fell on lower shipments trimmed by Europe’s debt crisis and Chinese New Year holiday

For the first time in three months, Singapore’s exports fell in January. Most affected were electronics and petrochemical shipments trimmed by falling demand due to Europe’s debt crisis and as the Chiinese New Year holiday shortened the working month, as per Bloomberg.

For more details on Singapore exports fell on lower shipments trimmed by Europe’s debt crisis and Chinese New Year holiday click here

ADNOC reaches final price agreement with term customers for splitter, low sulfur naphtha at premium

Abu Dhabi National Oil Co (ADNOC) has reached a final price agreement with its term customers to supply both splitter and low sulfur naphtha for April 2012-March 2013 at a premium of US$23.50/mt to thhe ADNOC formula, as per Platts.

For more details on ADNOC reaches final price agreement with term customers for splitter, low sulfur naphtha at premium click here

Saudi Aramco plans 50 day maintenance shutdown at condensate splitter in mid-March

Saudi Aramco, top naphtha exporter to Asia, has plans to shut a condensate splitter for maintenance for about 50 days in mid-March. This will take an estimated 250,000-330,000 tons of A310 naphtha offf the market.

For more details on Saudi Aramco plans 50 day maintenance shutdown at condensate splitter in mid-March click here

PI organizes conference on Innovations in Flexible Packaging in Mumbai

Flexible Packaging is one of the fastest growing industries in the World. Amongst all packaging material plastic is the fastest growing raw material. Flexible Packaging is a part of day to day human llife.

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Asian PVC origins reappear in Mediterranean markets

Players in Turkey and Egypt report that Asian PVC offers are beginning to re-emerge after a long period of absence, as per ChemOrbis. Offers for South Korean PVC showed up in Egypt this week while pllayers in Turkey reported receiving offers for Taiwanese and Malaysian cargoes over the past two weeks.

For more details on Asian PVC origins reappear in Mediterranean markets click here

Plant matter converted into ethylene/propylene using a nanotechnology process

A method of converting plant matter into ethylene and propylene using a nanotechnology process that offers an alternative to oil-based production, has been developed by a team from Utrecht University and Dow Chemical Co, as per Reuters.

For more details on Plant matter converted into ethylene/propylene using a nanotechnology process click here

North American polypropylene market returns to volatility seen in 2011

After showing stability for two months of this year, the North American polypropylene market returned to the volcanic behavior it displayed in 2011. PP prices have surged an average of 17 cents per lbb since Feb.

For more details on North American polypropylene market returns to volatility seen in 2011 click here

Paraxylene prices fall in Asia amid rising benzene

Rising by US$3.75/ton, benzene in Asia rose to US$1187.75/mt FOB Korea on Thursday as per Platts. In the US, benzene spiked by nine dollars to US$1246/mt FOB USG. "Asian benzene supply for the prompt months is still very tight.

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ADNOC lowers premiums on long-term naphtha supplies

Abu Dhabi National Oil Co. (ADNOC) has lowered its offering price for long term naphtha supply for April 2012-March 2013, as per Bloomberg. ADNOC offered Pentane-Plus grade naphtha at a premium of US$$25.

For more details on ADNOC lowers premiums on long-term naphtha supplies click here

Iran to halt oil exports to 6 EU nations: oil prices spike

As per Iranian state TV, Tehran had cut oil exports to six European countries in response to sanctions from the European Union. This was accompanied by positive developments in Europe’s sovereign debtt crisis, pushing up oil prices to US$102.

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New PET uses post-consumer recycled PET with standard virgin PET, approved for food contact packaging

Artenius, the PET resins division of LSB has developed a new PET packaging material that combines virgin PET resin and post-consumer recycled PET as feedstock in the resin production process. The resuult is Artenius Elite, a remarkably pure, energy-efficient packaging resin.

For more details on New PET uses post-consumer recycled PET with standard virgin PET, approved for food contact packaging click here

Naphtha price in Asia rise to nearly a 10 month highs

Amid rising Brent crude, Asia's naphtha price rose on Wednesday to nearly a 10 month high, while cracks slipped just around 2% after touching 13 month highs as tight supply persisted, as per Reuters.
Japan's Mitsui Chemicals came forward to buy H2 March naphtha cargo, but details were scant.

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Russian government approves measures for support of domestic petrochemical industry until 2030

The Russian government has approved a new set of measures for the support of the domestic petrochemical industry until 2030, as per europeanplasticsnews.com. The new measures involve development of thhe industry under the cluster concept, with particular attention on the increase of large-capacity petrochemical production and related processing industries.

For more details on Russian government approves measures for support of domestic petrochemical industry until 2030 click here

Polypropylene spot prices in Europe rise by 20% to 8 month highs

A more than 20% rise has been seen in Polypropylene (PP) net spot prices in Europe so far this year. Prices have spiked to an eight-month high, as producers close February order books and only offer nnew volumes at higher prices amid expectations of another increase for March propylene, as per ICIS.

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Growth in materials demand for wind turbine blades

Global demand for materials in the production of wind turbine blades grew by over 20% pa in the last five years, as per a report from industry consultants, AMI Consulting, published in January 2012. TThe market for wind turbine blades has been one of the fastest growing of any composite application with strong growth in Europe, North America and more recently Asia.

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Upward trend continues seen in China’s PP, PE markets

The upward trend that had been in place in China’s PP and PE markets since mid December gained speed following the end of the Chinese New Year holiday at the beginning of February, as per ChemOrbis. HHowever, the resistance against rising prices built on the buyers’ side has grown, forcing traders and distributors to step back from their offers.

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Sibur and Gazprom sign long-term supply contract for petrochemical plants

CJSC SIBUR Holding and OJSC Gazprom have signed a long-term contract to supply natural gas liquids (NGL) from the Surgut Condensate Stabilisation Plant to the Tobolsk-Neftekhim facility up to 2021. Thhe annual supply of NGL between 2012 and 2016 will increase from 440,000 tons to over 1 mln tons.

For more details on Sibur and Gazprom sign long-term supply contract for petrochemical plants click here

Severe weather conditions continue to affect polymer business in Europe

Cold weather over the past few weeks has affected Europe’s plastics sector severely, as per ChemOrbis. Tough weather conditions, which worsened during the weekend, caused many upstream and downstream plants to freeze.

For more details on Severe weather conditions continue to affect polymer business in Europe click here

Honeywell’s new technology center in India to expand capabilities for refining, petrochem, low-global-warming and nylon technologies and applications

Honeywell has inaugurated a new technology center in India, further expanding its technology development capabilities in key areas including refining, petrochemical, low-global-warming and nylon technnologies and applications.

For more details on Honeywell’s new technology center in India to expand capabilities for refining, petrochem, low-global-warming and nylon technologies and applications click here

Asian benzene dips with fall in crude oil prices

Amid falling crude oil prices, benzene in Asia slipped by a dollar to US$1187/mt FOB Korea. In the US, benzene was assessed at US$1246/mt FOB USG on February 13, while European benzene was assessed att US$1270/mt CIF ARA, up by US$11 on February 13.

For more details on Asian benzene dips with fall in crude oil prices click here

Reliance plans to expand petrochemicals production at Jamnagar refinery

Reliance Industries Ltd. will expand petrochemicals production including ethylene, polypropylene and propylene at its Jamnagar refinery to profit from selling products used in consumer goods that are more valuable than exported fuels, as per Bloomberg.

For more details on Reliance plans to expand petrochemicals production at Jamnagar refinery click here

Naphtha cracks in Asia peak to a 13 month high

Naphtha cracks in Asia rose for the fourth time to peak to a 13 month high, while naphtha price was at 9 month on firm demand and limited cargoes, as per Reuters. South Korea's LG Chem bought 25,000 tons of naphtha for H2-March arrival at Yeosu at premiums of around US$20/ton to Japan quotes on a cost-and-freight (C&F) basis.

For more details on Naphtha cracks in Asia peak to a 13 month high click here

Vitol’s total February purchases rise to 150,000 tons

Two more cargoes of 12,500 tons of naphtha have been purchased by trading company Vitol, taking its total February purchases to 150,000 tons, the largest monthly volume bought by an individual companyy during the Platts Market on Close assessment process since 2005, as per Platts.

For more details on Vitol’s total February purchases rise to 150,000 tons click here

Oil prices rise above US$101 on renewed tensions on Iran’s oil supplies and Greece approves spending cuts

Crude oil prices crossed the US$100 threshold as tensions about Iran’s oil supplies rekindled after some shipping companies mulled to stop loading Iranian crude onto tankers amid pending US and Europeean sanctions against Iran.

For more details on Oil prices rise above US$101 on renewed tensions on Iran’s oil supplies and Greece approves spending cuts click here

Turkey’s PET market moves higher ahead of the high season

After rebounding at the end of 2011, Turkey’s import PET market rose steadily, driven by surging upstream costs since January. Sellers report seeing relatively improved buying interest in the last couuple of weeks despite harsh weather conditions, as per ChemOrbis.

For more details on Turkey’s PET market moves higher ahead of the high season click here

DuPont announces price increase in Europe for Elvax® EVA Copolymer

DuPont Packaging & Industrial Polymers is announcing a price increase of Euro 0.15/kg on all grades of DuPont™ Elvax® EVA copolymers in the region Europe, Middle East and Africa. This increase is effeective March 1st, 2012 or as contracts allow.

For more details on DuPont announces price increase in Europe for Elvax® EVA Copolymer click here

Foster Wheeler awarded contract for propylene oxide unit in Jubail

Foster Wheeler has announced that subsidiaries of its Global Engineering and Construction Group have been awarded an engineering, procurement and construction management contract by Aramco Overseas Coompany B.

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Asia Naphtha Crack Extends Drop; BP Sells Gasoil: Oil Products

Naphtha crack spread extended losses in Asia, signaling reduced profit for refiners, as per Bloomberg. Japan naphtha’s premium to London-traded Brent crude futures fell to US$122.73/ton at 3 p.m. Singgapore time from US$126.

For more details on Asia Naphtha Crack Extends Drop; BP Sells Gasoil: Oil Products click here

Impact of feedstock developments on GCC petchem firms

Following two decades of expansion driven by an abundance of natural gas at advantaged prices, GCC petrochemical companies established a leading position in their industry. However, recent shifts in bboth supply and demand have led to growing gas shortages of natural gas in the region.

For more details on Impact of feedstock developments on GCC petchem firms click here

Qatar Petroleum, Qapco ink agreement for US$5.5 bln stream cracker petrochem complex by 2018

Qatar Petroleum and Qapco have signed a heads of agreement (HoA) for a 80:20 joint venture, which will produce 1.4 mln tpa of ethylene, 850,000 tpa of high-density polyethylene (HDPE), 760,000 tpa of polypropylene, 430,000 tpa of linear low-density polyethylene, 125,000 tpa of pyrolysis gasoline and 83,000 tpa of butadiene.

For more details on Qatar Petroleum, Qapco ink agreement for US$5.5 bln stream cracker petrochem complex by 2018 click here

Growing demand for petrochemicals in China creates opportunities for JVs with US and European companies

China has surpassed North America and Europe as the largest consumer of petrochemicals in the world, creating opportunities for joint ventures with US and European companies, a report by GlobalData haas found.

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Kuwait Styrene Co. announces 2011 net profit at US$99 mln

The Kuwait Styrene Company (TKSC) has announced a net profit of US$99 million for the fiscal year ending December 31, 2011, as per KUNA. Profits have been attributed to several elements, such as strattegic management, highly efficient operations, proper marketing, as well as the global stability in prices of petrochemical products.

For more details on Kuwait Styrene Co. announces 2011 net profit at US$99 mln click here

ADNOC offers April-March term naphtha to Asia at premiums of US$25-27/ton

Abu Dhabi National Oil Co. (ADNOC) offered to term naphtha for April to March 2013 to Asian buyers at premiums of US$25-27/ton above Middle East prices, as per sources in Bloomberg. Abu Dhabi offered Pentane-Plus grade naphtha at a premium of US$27, low-sulfur naphtha at a premium of US$26 a ton and Splitter-grade at US$25/ton.

For more details on ADNOC offers April-March term naphtha to Asia at premiums of US$25-27/ton click here

Double digit premium paid by Formosa Petrochemical for 100,000 tons naphtha

Formosa Petrochemical Corp. bought about 100,000 metric tons of naphtha for end of March to early April delivery to Mailiao, for a premium of US$11-12/ton above Japan benchmark prices, as per Bloomberrg.

For more details on Double digit premium paid by Formosa Petrochemical for 100,000 tons naphtha click here

Bailout deal for debt-strapped Greece put off again: Oil prices fall

Oil prices ended the previous week on a lower note in Asia on news that the bailout deal for debt-strapped Greece was once again delayed. This is because of lack of sufficient confidence in the euro zzone that the austerity measures taken by Greece will hold up.

For more details on Bailout deal for debt-strapped Greece put off again: Oil prices fall click here

Honam Petrochemical mulls petrochem complex in Cilegon, Indonesia

Asia's No. 2 petrochem producer- Honam Petrochemical Corp. is mulling a petrochemical complex in Cilegon, Indonesia, at an investment outlay of US$5 bln. Capacities would comprise 1 mln tpa of ethylenne, 700,000 tpa of monoethylene glycol, 600,000 tpa of polypropylene and 550,000 tpa of propylene at the new integrated plant.

For more details on Honam Petrochemical mulls petrochem complex in Cilegon, Indonesia click here

Reliance to shut three units for annual maintenance: PP and PE prices

With effect from January 9, 2011, Reliance has announced price hikes of Rs 3/kg for polypropylene (PP) and Re 1/kg for polyethylene (PE). This follows a decision by Reliance Industries Ltd (RIL) to shhut three of its units for annual maintenance, coupled with firm global prices.

For more details on Reliance to shut three units for annual maintenance: PP and PE prices click here

Lukoil looks at restart after December fire: Damage estimated at ?20.5 mln

A major fire that destroyed part of the Stavrolen petrochemicals complex of Russia's Lukoil oil group in December 2011 is estimated to have caused damage to the tune of over ?20.5 mln. The accident waas caused by a gas leak in the "assembly for separation of the propane-propylene fraction" resulting from corrosion and "structural changes" that occurred while the equipment was in use, according to an official technical inquiry.

For more details on Lukoil looks at restart after December fire: Damage estimated at ?20.5 mln click here

Proposal for setting up PCPIR near Cuddalore expected by end of month

The Ministry of Chemicals and Fertilisers will present a proposal to the cabinet for approval, for setting up a Petroleum, Chemicals and Petrochemicals Investment Region near Cuddalore in two weeks. The PCPIR will entail infrastructure spending of Rs 16,725 crores.

For more details on Proposal for setting up PCPIR near Cuddalore expected by end of month click here

SCG, Thai Plastic and Chemicals, QPI Vietnam, PetroVietnam, Vinachem ink

Siam Cement Group (SCG), Thai Plastic and Chemicals, QPI Vietnam (a subsidiary of Qatar Petroleum International), PetroVietnam and Vinachem have signed a joint venture agreement to invest in Vietnam'ss first petrochemicals complex.

For more details on SCG, Thai Plastic and Chemicals, QPI Vietnam, PetroVietnam, Vinachem ink click here

Sentiment bullish in Indonesia's polymer markets

Players in Indonesia report that sentiment within the country is bullish and that the country has seen even larger increases over the past few weeks along with other Southeast Asian countries, as per ChemOrbis.

For more details on Sentiment bullish in Indonesia's polymer markets click here

Quick, concentrated UV protection for polycarbonate

A cost-effective and environmentally responsible way to improve the UV protection of injection molded or extruded polycarbonate parts is being offered by AURAT infusion technology, developed by Bayer MaterialScience LLC.

For more details on Quick, concentrated UV protection for polycarbonate click here

Zhafir Plastics Machinery opens new subsidiary in India

As one of the premium brands of all electrical injection molding machines, Zhafir Plastics Machinery has founded its subsidiary in India --- Plastics Machinery India Private Limited Founded in 2005 inn Germany, the Zhafir Group with its present two manufacturing and technology facilities in Ebermannsdorf/Germany and in Ningbo/China and the now newly founded sales and service center in Mumbai/India represents the premium brand of Haitian International -- the world's largest manufacturer of injection molding machines.

For more details on Zhafir Plastics Machinery opens new subsidiary in India click here

Tonen Chemical likely to skip 2012 cracker turnaround

Tonen Chemical Corp is likely to skip scheduled maintenance on its 540,000 tpa Kawasaki naphtha cracker in 2012, as per Reuters. This sole cracker of Tonen last completed scheduled maintenance in 20100.

For more details on Tonen Chemical likely to skip 2012 cracker turnaround click here

Roquette and Rhodia Acetow ink Joint Development Agreement to develop new plant-based polymers

Roquette and Rhodia Acetow have signed a Joint Development Agreement (JDA) to develop new plant-based polymers. The JDA will enable both companies to leverage synergies bringing together respective coompetencies in the field of plant-based polymer chemistry.

For more details on Roquette and Rhodia Acetow ink Joint Development Agreement to develop new plant-based polymers click here

Iran threatens to cut supply to EU: Oil prices rise

Oil on the Nymex rose by US$1.50 on Tuesday to US$98.41 per barrel in New York. Brent crude rose to US$$116.23 per barrel in London.
Oil prices climbed on threats that Iran is likely to cut off suppplies to Europe.

For more details on Iran threatens to cut supply to EU: Oil prices rise click here

ONGC fetches 9 month high premiums on March naphtha cargo

Oil & Natural Gas Corp has sold a March naphtha cargo to Vitol at US$35-36/ton above Middle East quotes on a free-on-board (FOB) basis. This is the highest premium it has fetched in nine months, as peer Reuters.

For more details on ONGC fetches 9 month high premiums on March naphtha cargo click here

Strong naphtha cracks in Europe

European gasoline barge prices firmed on Tuesday, with strong naphtha cracks lending support to the light ends complex, as per Reuters. Despite the recent start of a downwards correction phase in lighht distillates, naphtha market sentiment remains relatively bullish on strong demand from the petrochemicals industry.

For more details on Strong naphtha cracks in Europe click here

CII and Al Fajer to launch IndiaPlast 2014

IndiaPlast exhibition will be organised from March 6 to 8, 2014, at Chennai Trade Centre by Al Fajer Information and Services in collaboration with the Confederation of Indian Industry (CII), India’s biggest industry association.

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Wavin accepts revised all-cash takeover offer by Mexichem

Mexichem S.A.B. de C.V. and Wavin N.V. jointly announce they have reached a conditional agreement in connection with a public cash offer by Mexichem for all issued and outstanding ordinary shares of WWavin at an offer price of € 10.

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Graham Corp awarded over US$3.5 mln in orders for refining, petrochemical and nuclear energy industries

Graham Corporation has been awarded more than $3.5 million in orders that are expected to be delivered in the third quarter of Graham's fiscal year 2013, which begins April 1, 2012.
The orders for thhe equipment to be designed and manufactured span three key markets within the energy industry that Graham serves: petrochemical, refining and nuclear energy.

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Thermal Energy receives offer of funding from Canadian Govt for project in China

Thermal Energy International Inc. has received an offer of funding from the Canadian government to support a product development project it is undertaking in China targeting the Chinese petrochemical market.

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Global investment in petrochemical infrastructure market to reach US$64.1 bln in 2012

The petrochemical infrastructure market has seen rapid growth over the past decade. Growth in demand for petrochemical products has been the major underlying driver of growth. The manufacturing and prroduction of modern industrial and consumer goods requires polymers and derivatives of petrochemicals which are integral to almost every product.

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RIL inks agreement for US$400 mln loan facility with SACE for US$11 bln J-3 mega petrochem project

Reliance Industries Ltd (RIL) has approached the international markets to raise funds for its ambitious US$11 billion (Rs 55,000 crore) Jamnagar phase three expansion project. The project, also known as J-3 mega petrochemicals project aims to double petrochemicals production including setting up of mega petrochemical units, a gasification plant and refinery off-gas cracker.

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150,000 tons of heavier naphtha grades to be shipped in March to Asia from the Mediterranean

About 150,000 tons of mainly heavier naphtha grades will be shipped to Asia from the Mediterranean in March, as per Reuters. However, shortage in Europe is likely to halt further shipments to Asia.
TThe arbitrage window for open-spec naphtha used mainly for ethylene cracking was shut recently.

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Asian naphtha market gears up for challenging round of negotiations with Middle Eastern suppliers

Asian naphtha market participants are bracing themselves for what some term a challenging round of negotiations with Middle Eastern suppliers, as buyers anticipate a possible hike in premiums for the April 2012-March 2013 term cycle, as per Platts.

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Samsung Total selects LyondellBasell’s Polyolefin Process Technology for Daesan

LyondellBasell, a licensor of polyethylene and polypropylene technologies, has licensed its Lupotech T polyolefin process technology to Samsung Total Petrochemicals. The technology will be deployed inn a new plant in Daesan, South Korea.

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Dow Chemical posts unexpected loss of US$20 mln on falling plastics sales

Dow Chemical Co. has posted an unexpected fourth-quarter loss after sales at its plastics unit fell, as per Bloomberg. The net loss was US$20 mln vs a net income of US$426 mln a year ago. Chief Executtive Officer Andrew Liveris is expanding plastics production and developing genetically modified seeds and herbicides to compete with Monsanto Co.

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Honeywell to invests US$27.5 mln in new ballistic materials facility in Chesterfield County

Honeywell will invest US$27.5 mln to add to its Advanced Fibers and Composites operation in Chesterfield County.
AF&C manufactures the lightest, strongest polyethylene fiber available anywhere in thee world, which is used for ballistic protection with the U.

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Major expansion and upgrade project at Samsung Total Petrochemicals Daesan Complex

Total is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project for the Daesan complex in South Korea, which the Group owns with Samsung as part of the Samsunng Total Petrochemicals 50:50 joint venture.

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Sahara Petrochemicals Co. affiliate inks financing agreement with SIDF for SR 300 mln

Sahara Petrochemicals Company announces that one of TSOCs affiliates, Saudi Acrylic Monomers Company Limited (SAMCO), inked on Sunday 5th February, 2012 a financing agreement with Saudi Industrial Devvelopment Fund (SIDF) with a value of SR 600 million.

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Planned maintenance turnaround at Showa Denko naphtha cracker

A naphtha cracker plant operated by Showa Denko will undergo planned maintenance turnaround from the first week of March, as per Fibre2fashion. The cracker has capacity to produce 695,000 tpa of ethyllene.

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Lukoil completes inquiry into causes of fire at Stavrolen petrochemical facility

Lukoil has completed the inquiry into the causes of the fire at the Stavrolen petrochemical facility and the ensuing breakdown of an ethylene-producing unit in December has been completed, as per StocckMarketWire.

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Indorama Ventures inks deal with Indo Rama Synthetics to set up PTA, PET, PSF plant in India

Thailand’s Indorama Ventures has signed a deal with Indo Rama Synthetics to set up a new petrochemical plant in India. The project, announced during the visit to India of Thai Prime Minister Yingluck Shinawatra, will manufacture Purified Terephthalic Acid (PTA), Polyethylene Terephthalate (PET) and Polyester Staple Fibre (PSF).

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Albemarle installs new production train for finished polyolefin catalysts

Albemarle has completed the expansion of its Process Development Center (PDC) in Baton Rouge, Louisiana by installing a new production train for finished polyolefin catalysts and a number of supportinng auxiliaries, as per PBR Staff Writer.

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Samsung Total plans major expansion and upgrade in Daesan

Total is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project for the Daesan complex in South Korea, which the Group owns with Samsung as part of the Samsunng Total Petrochemicals 50:50 joint venture.

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Honam to add new 300,000 tpa PP line at Yeosu

Honam Petrochemical Corporation is adding a new 300,000 tpa polypropylene (PP) line at Yeosu, as per Fibre2fashion News Desk. With this, Korean PP capacity of Honam, which had merged with Titan in 20110, will touch 1.

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Indonesia’s PT Chandra Asri Petrochemical has signed an ethylene sales deal with its subsidiary, PT Styrindo Mono Indonesia, for a period of one year,

Israel has signed a deal with American chemistry giant Dow Chemical to begin using its innovative Bromine-based flame retardant polymer, which is used in foam insulation applications that are needed ffor thermal insulation in construction, as per ynetnews.

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Chandra Asri inks ethylene sales deal with subsidiary PT Styrindo Mono Indonesia

Indonesia’s PT Chandra Asri Petrochemical has signed an ethylene sales deal with its subsidiary, PT Styrindo Mono Indonesia, for a period of one year, effective from Jan.1 to Dec. 31, 2012, as per thee Jakarta Post.

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Global LLDPE demand is moving steadily forward

The polyethylene linear low density (LLDPE) demand on the global market is moving steadily forward - its growth is driven largely by the developing LLDPE industries in the countries of Asia-Pacific annd Eastern Europe, as per Merchant Research & Consulting Ltd.

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Japan Tosoh to continue operating sole 527,000 tpa naphtha cracker at reduced rate

Japan's Tosoh Corp, an integrated chemical producer is to continue to run its 527,000 tpa naphtha cracker at reduced run rates of 90% due to slow ethylene demand, as per Reuters. Run rates were lowere

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LyondellBasell grants largest capacity Hostalen ACP Process License for new HDPE plant in China

Hostalen ACP process technology license to Shaanxi Yanchang Petroleum Yanan Energy and Chemical Co., Ltd. Start-up for this new HDPE plant in the Chinese Shannxi province is scheduled for 2014. "Thiis is the largest capacity Hostalen ACP multi-modal process technology that we have ever licensed, further demonstrating the competitive economics for producing leading HDPE resins," said Bob Patel, senior vice president of Technology at LyondellBasell.

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