Japan's naphtha imports for the petrochemical sector drop 23% in February

Japan's naphtha imports for the petrochemical sector fell 23% in February 2012 vs February 2011 as per government figures in Reuters. Imports of naphtha for ethylene production totalled 1.11 mln tons last month, down from 1.

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Foster Wheeler subsidiary awarded project management consultancy contract for RFCC Project at Cilacap Refinery

Foster Wheeler announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by PT Pertamina (Persero) (“Pertamina”), the national oil company of the RRepublic of Indonesia, to provide project management consultancy services for the Residue Fluid Catalytic Cracker (RFCC) Project at the Cilacap Refinery, on the island of Java, Indonesia.

For more details on Foster Wheeler subsidiary awarded project management consultancy contract for RFCC Project at Cilacap Refinery click here

Spread between styrene monomer and naphtha narrows to smallest spread since late April 2011

The spread between styrene monomer and petrochemical feedstock naphtha narrowed to US$370/mt Monday, the smallest spread since late April 2011, Platts data showed.
Poor demand for SM in China amid rrelatively high inventory levels within the country has pushed SM prices down in recent weeks, while continuously high energy prices are keeping naphtha firm.

For more details on Spread between styrene monomer and naphtha narrows to smallest spread since late April 2011 click here

State Minister replaces TCG chief as Haldia Chairman

The articles of association (constitution) of Haldia Petrochemicals say its chairman can only be appointed by consensus and not by majority.

Yesterday’s board meeting saw the replacement of TCG chhief Purnendu Chatterjee as Haldia Chairman by commerce and industries minister Partha Chatterjee.

For more details on State Minister replaces TCG chief as Haldia Chairman click here

Reliance sells 55,000 tons of April naphtha to Vitol at US$41/ton premium to Middle East

Reliance Industries has sold around 55,000 tons of April naphtha to Vitol at premiums of about US$41/ton to Middle East quotes on a free-on-board (FOB) basis, down nearly 27-30% from a previous sale, as per Reuters.

For more details on Reliance sells 55,000 tons of April naphtha to Vitol at US$41/ton premium to Middle East click here

Honam Petrochemical cuts run rate by 10% at 1 mln tpa Daesan cracker

Honam Petrochemical is operating its 1 mln tpa cracking complex at Daesan at around 90% of its capacity following mechanical trouble linked to a compressor, as per Reuters. It is expected that the Souuth Korean could maintain the run cuts until the cracker goes into debottlenecking work beginning around the middle of April to raised capacity to 1.

For more details on Honam Petrochemical cuts run rate by 10% at 1 mln tpa Daesan cracker click here

Oil dips below US$107 on news of meet between Iran and six world powers

Asia saw oil prices fall below US$107 on news of an agreement to meet on April 13 between Iran and six world powers- United States, Britain, France, Germany, Russia and China. News of this meeting hass spread optimism of a negotiated resolution to the current dispute over Iran’s nuclear program.

For more details on Oil dips below US$107 on news of meet between Iran and six world powers click here

High-efficiency non-halogenated flame retardants for transport and construction applications

A novel, sustainable solution to achieving high fire safety levels for transport and construction applications, has been launched by Clariant, with its pioneering new Exolit® EP non-halogenated flamee retardants for epoxy resins.

For more details on High-efficiency non-halogenated flame retardants for transport and construction applications click here

PET prices fall in Turkey on lower costs

Before rebounding last week, feedstock markets in Asia and Europe recorded steady drops since the second week of March, as per ChemOrbis. The previous softening in spot PX, PTA and MEG costs due to flluctuating energy prices has started to reflect in Turkey’s PET market.

For more details on PET prices fall in Turkey on lower costs click here

Management control issue may supersede issue of erosion of over 50% of peak networth

Haldia Petrochemicals is expected to erode more than half of its peak networth in FY11-12. However, a potential conflict between the lead promoters on management control may supersede ride the loomingg “potential sickness” of HPL during this weeks’ board meet, as per Businessline.

For more details on Management control issue may supersede issue of erosion of over 50% of peak networth click here

Clariant inaugurates new pigments facility in Greater China

Clariant continues to expand its global production capabilities to support customers in the Greater China region, with the inauguration of a new pigments facility. The new plant in DaGang in the city of Tianjin, which came on-stream end of 2011, is a joint-venture between Clariant and Tianjin Bohai Chemical Industry Company with a total investment of CNY 120 million.

For more details on Clariant inaugurates new pigments facility in Greater China click here

Functional polyolefins for pipes and cables

An increased demand exists for sophisticated pipes and cables in all the sectors. Therefore, demands in production, durability standards and change in safety are the issues faced continuously by manuffacturers.

For more details on Functional polyolefins for pipes and cables click here

Naphtha crack rebounds in Asia

Naphtha crack spread rebounded in Asia from a three-day drop, signaling increased profit for refiners making the petrochemical feedstock, as per Bloomberg. Naphtha’s premium to Brent crude rose by oveer nine dollars to US$122.

For more details on Naphtha crack rebounds in Asia click here

Formosa seeks heavy grade naphtha for H2-May, Honam defers purchases

Formosa Petrochemical Corp is seeking 25,000-35,000 tons of heavy naphtha for H2-May arrival while Honam Petrochemical has deferred buying H1-May naphtha due to high offers, delaying the purchase in aanticipation of easing of supplies from India, as per Reuters.

For more details on Formosa seeks heavy grade naphtha for H2-May, Honam defers purchases click here

Concerns over supply disruption from Iran resurface, oil falls toward US$106

Oil prices dipped to US$106 a barrel as investors mulled how much the conflict over Iran's nuclear program might disrupt global crude supplies, as per Press Trust of India. Benchmark oil for May delivvery settled at US$106.

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LG Chem, Kazakhstan Petrochemical Industries reconfirm plans of a joint petrochemical complex in Atyrau

Kazakhstan is a state rich in gas, oil and other natural resources. LG Chem and state firm Kazakhstan Petrochemical Industries plan to move ahead with a petrochemical complex in Atyrau, at a total invvestment outlay ofUS$4.

For more details on LG Chem, Kazakhstan Petrochemical Industries reconfirm plans of a joint petrochemical complex in Atyrau click here

SOCAR to build 550,000 tpa polypropylene plant in Azerbaijan

The State Oil Company of Azerbaijan Republic (SOCAR) will be building a petrochemical complex having a capacity to produce 550,000 tons of polypropylene, which is widely used in the textile industry, Vice President of SOCAR has announced, as per fibre to fashion.

For more details on SOCAR to build 550,000 tpa polypropylene plant in Azerbaijan click here

Composite PVC materials using nanofillings

A research team from the Public University of Navarre (UPNA) together with the L’Urederra R+D Centre and Compuestos y Granzas is developing composite PVC materials using nanofillings. In the project, which includes the production of the nanofilled PVC composite materials, the research team will synthesize and treat nanoclays and then insert them into the polymer matrix.

For more details on Composite PVC materials using nanofillings click here

April PVC outlook firm in South East Asia’s local markets

After April import prices were announced higher to the region, players in Southeast Asia’s PVC market expect to see additional price increases announcements on local prices next month, as per ChemOrbiis.

For more details on April PVC outlook firm in South East Asia’s local markets click here

Belgian plastics and rubber industry confronted by sharp resin increases in 2012 after a strong 2011

After a strong year 2011, the Belgian plastics and rubber industry is confronted by sharp resin price increases. Maintaining margins is priority number 1 for the near future. More expensive energy andd resources will stimulate in the long term the demand for plastics.

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Dow to invest an additional US$125 mln in Thai operation

Dow Chemical Co plans to invest an additional US$125 miln into its Thai operations, strengthening the country's role in transforming the US-based firm from a manufacturer of basic chemicals to a makerr of specialty products, as per Bangkok Post.

For more details on Dow to invest an additional US$125 mln in Thai operation click here

Haldia Petrochemicals Ltd could see it largest fiscal loss in FY 2011-12

Besides facing its largest ever loss in FY 2011-12, Haldia Petrochemicals is also facing substantial erosion of the networth of the company. recurring shutdowns, depressed margins and a weak market haad taken a toll on the financial performance of the company.

For more details on Haldia Petrochemicals Ltd could see it largest fiscal loss in FY 2011-12 click here

Showa Denko KK halts all production at its sole 695,000 tpa Oita naphtha cracker

Showa Denko KK has halted all production at its sole 695,000 tpa naphtha cracker in Oita, western Japan, on March 15 due to a problem with a gas cooling unit, as per Reuters. The Japanese firm was connducting a partial shutdown of the plant since March 7 for checks on new furnaces, and decided to clean the facility when it encountered this problem.

For more details on Showa Denko KK halts all production at its sole 695,000 tpa Oita naphtha cracker click here

Reports indicate slowdown in Chinese manufacturing : oil prices slide near US$105

Benchmark U.S. crude fell by almost two dollar to US$105.3 per barrel, falling to its lowest level in a week, after reports indicate a slowdown in Chinese manufacturing. Industrial activity in China ddropped to a four-month low in March, indicating a possible slow demand for crude.

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Benzene flat in Asia, climbs in US, falls in Europe

Despite strengthening benzene in USA, Asian benzene closed flat day on day Thursday at US$1176.50/mt FOB Korea on weakening demand, as per Platts. China's manufacturing activity fell to a four-month llow in March, HSBC said, leading May ICE Brent crude futures to dip be over a dollar to US$123.

For more details on Benzene flat in Asia, climbs in US, falls in Europe click here

CPC’s new naphtha cracker with 600,000 tpa ethylene capacity set for completion by Dec 2012

CPC plans to construct a naphtha cracker with capacity to produce 600,000 tpa of ethylene. Investment outlay for the project set to be completed by December 2012, is estimated at NT$46.9 bln. This prooject will help Taiwan fill the gap of ethylene demand by the local petrochemical industry.

For more details on CPC’s new naphtha cracker with 600,000 tpa ethylene capacity set for completion by Dec 2012 click here

Next two decades to see a four fold rise in Russian ethylene production

Russian ethylene capacity is predicted to rise by around four-fold in the next two decades by 2030. The driving factors can be narrowed to feedstock availability and rising domestic demand. Propylenee production is also expected to increase approximately 4.

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US shuns European naphtha imports despite approaching summer driving season

In a case of rare reverse arbitrage, higher priced Northwest European naphtha has attracted fresh US barrels, as the US shuns European imports despite the approaching summer driving season, as per Plaatts.

For more details on US shuns European naphtha imports despite approaching summer driving season click here

CPC to build 80,000 BPSD RFCC unit and facilities at an investment of NT$38.9 bln

Taiwan’s CPC Corporation plans to invest NT$38.9 bln in building an RFCC (Residue Fluid Catalytic Cracking) unit with a capacity of 80,000 BPSD, along with related facilities. To be named No. 6 Naphthha Cracker and RFCC, the project will help streamline refinery configuration and boost value-added profiles.

For more details on CPC to build 80,000 BPSD RFCC unit and facilities at an investment of NT$38.9 bln click here

Formosa buys tons of open-spec naphtha for H1-May at premiums lower than last week

Formosa Petrochemical Corp has bought 100,000 to 150,000 tons of open-spec naphtha for H1-May arrival at premiums of US$21-23/ton to Japan spot quotes on a cost-and-freight (C&F) basis. This is lower than US$25/ton paid last week for 50,000-75,000 tons of H2-April arrival, as per Reuters.

For more details on Formosa buys tons of open-spec naphtha for H1-May at premiums lower than last week click here

China’s domestic PVC market trades below imports on poor demand

China’s domestic PVC market has been mostly unresponsive to the steadily rising import prices since the beginning of 2012, causing the domestic market to trade at a discount when compared to imports, as per ChemOrbis.

For more details on China’s domestic PVC market trades below imports on poor demand click here

Declining demand fails to pull down NWE spot PP prices from over 9-month highs

Spot polypropylene prices in Northwest Europe continued to hover at over nine-month highs this week despite the decline in demand, as per Platts. Buyers have adopted a wait and watch stance.
Spot prrices for homo injection grade were assessed at Eur1320-1325/mt (US$1746-1752/mt) FD NWE on Wednesday, unchanged from a week earlier, when they hit their highest since June 1, 2011 when they were at Eur1315-1320/mt.

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Gazprom Neft plans to invest €70 mln in petrochemicals in cooperation with Sibur

In 2012, Gazprom Neft plans to invest up to RUB3 bln (€70 mln) in developing its petrochemical business, in cooperation with Sibur, as per European Plastics News. The deal will allow Sibur and Gazpromm Neft to expand its business in the profitable segment of the market.

For more details on Gazprom Neft plans to invest €70 mln in petrochemicals in cooperation with Sibur click here

Naphtha cracks in Asia rebound

Naphtha prices in Asia steadied on Wednesday, while cracks rebounded from a near two-week low to reach a two-session high on demand from Taiwan, as per Reuters.
On Tuesday, naphtha crack spread in AAsia dipped for the first time in three days, falling to a premium of US$131.

For more details on Naphtha cracks in Asia rebound click here

Sinopec plans to produce at least 2 bln cubic meters pa of shale gas by the end of 2015

China Petrochemical Corp.(Sinopec Group) plans to produce at least 2 billion cubic meters of shale gas annually by the end of 2015--around one-third of the country's targeted production of 6.5 billionn cubic meters for that date, the official China Daily reported.

For more details on Sinopec plans to produce at least 2 bln cubic meters pa of shale gas by the end of 2015 click here

Tough, lightweight resin replaces metal in eyewear frames

Intermestic Inc., a specialty retailer of eyewear and accessories, has chosen SABIC IP’s tough, lightweight Ultem* polyetherimide (PEI) resin for the frames of its new line of Zoff SMART eyeglasses. The tailored, aerospace-grade Ultem resin material solution helps meet Japanese consumer demands for fresh, new eyewear styles with exceptional long-term performance and feather-light comfort; by allowing Intermestic to eliminate titanium and aluminum from the material selection process.

For more details on Tough, lightweight resin replaces metal in eyewear frames click here

Global MDI market expected to reach US$ 16 bln in 2016

Global MDI market was worth US$11.9 bln in 2011 and is expected to reach US$16 bln in 2016, growing at a CAGR of 6.1% from 2011 to 2016. Asia Pacific is expected to maintain its lead position in termss of revenue with 37.

For more details on Global MDI market expected to reach US$ 16 bln in 2016 click here

Atleast US$30/ton hike expected in polyethylene, polypropylene offers to Brazil from Asia

Asian polyethylene and polypropylene offers to Brazil are expected to increase at least US$30/mt this week, as per Platts. Some uptrend is expected in Asian price movements as prices in China rose by around US$50/mt this week.

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Naphtha prices and cracks dip in Asia on muted demand

Asian markets are seeing muted spot purchases as the Japanese market is closed for holiday and South Korean buyers are holding back on high offers. As a result, naphtha prices in Asia dipped to a two--session low on Tuesday, while cracks hit a near two-week low, as per Reuters.

For more details on Naphtha prices and cracks dip in Asia on muted demand click here

ONGC offers naphtha cargo for loading in April

India’s largest state-owned oil explorer, Oil & Natural Gas Corp. (ONGC) offered a 35,000 tons naphtha cargo for loading 17-18 April, from Hazira port, as per Bloomberg. Last week, Indian Oil Corp (IOOC), MRPL and Kuwait sold spot cargoes for April/May lifting at premiums of above US$40/ton.

For more details on ONGC offers naphtha cargo for loading in April click here

Saudi Arabia vows to ensure adequate oil supply, stabilise market : oil prices dip

The Saudi cabinet has vowed to "ensure adequate oil supply, stabilise oil market and bring down oil prices to reasonable levels to both producers, consumers, and the petroleum industry", as per Arab NNews.

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Ethylene output reduction by Sinopec Group to boost fuel production

Sinopec (China Petrochemical Corp.) is to cut ethylene output this month and boost fuel production to meet rising demand in the planting season, as per Bloomberg.
Five refining units, including Maomming, Yanshan and Zhongyuan, will reduce March ethylene production by a total 30,000 tons versus an earlier plan and increase oil- product output by 100,000 tons.

For more details on Ethylene output reduction by Sinopec Group to boost fuel production click here

Indorama’s 86,000 ton petrochemical plant slated for inauguration in Nigeria in H2-2012

A new 86,000 tpa of Polyethylene Terephthalate plant built by Indorama Group, the core investor in the Eleme Petrochemicals plant, is slated for inauguration in H2-2012. The plant is being built at a cost of US$300 mln.

For more details on Indorama’s 86,000 ton petrochemical plant slated for inauguration in Nigeria in H2-2012 click here

Spot styrene prices post weekly losses across the globe

Retreating energy prices combined with ample supplies weakened the sentiment for styrene and resulted in global losses from last week, as per ChemOrbis. Spot styrene lost ground in major markets incluuding Europe, Asia and the US in tandem with falling benzene markets amid weaker crude oil, before the energy complex rebounded on Friday.

For more details on Spot styrene prices post weekly losses across the globe click here

IRPC inks agreement to provide expert engineers to start-up Samsung Engineering’s construction projects

IRPC Public Co., Ltd. President has revealed the signing of a collaboration agreement in which IRPC will cooperate with Samsung Engineering Company. Under the agreement, IRPC will provide expert enginneers to start-up Samsung Engineering’s construction projects in different countries.

For more details on IRPC inks agreement to provide expert engineers to start-up Samsung Engineering’s construction projects click here

Mitsubishi order for large-scale CO2 Recovery plant from Qatar to increased methanol production

Mitsubishi Heavy Industries, Ltd. (MHI) has received an order for a large-scale carbon dioxide (CO2) recovery plant for Qatar Fuel Additives Co., Ltd. (QAFAC), a major fuel additive producer in Qatar,, through "MHI Industrial Engineering & Services Private Ltd.

For more details on Mitsubishi order for large-scale CO2 Recovery plant from Qatar to increased methanol production click here

Shell selects site near Monaca, Pittsburgh for petrochemical refinery to convert Marcellus ethane

Shell Oil Co. has chosen a site near Pittsburgh for a major, multi-billion-dollar petrochemical refinery that could create thousands of construction jobs and provide a huge economic boost to the regioon.

For more details on Shell selects site near Monaca, Pittsburgh for petrochemical refinery to convert Marcellus ethane click here

Shale from Marcellus providing impetus to the US petrochemical industry

Recent US shale gas discoveries are boosting the US petrochemical industry, and are set to contribute further to its growth by making ethane supplies from these reserves cheaper. Production from shalee formations has driven the US natural gas production in the last five years and now these are turning out to be an alternative source for ethane production, as per GlobalData.

For more details on Shale from Marcellus providing impetus to the US petrochemical industry click here

Technip awarded FEED contract by Petrona for proposed RAPID project

Technip has been awarded a front-end engineering design (FEED) contract byPETRONAS for its proposed Refinery and Petrochemical Integrated Development (RAPID) project located in the state ofJohor, Malaaysia.

For more details on Technip awarded FEED contract by Petrona for proposed RAPID project click here

Shaw in alliance with Total to jointly market and license polystyrene technology worldwide

The Shaw Group Inc. has announced it has formed an exclusive alliance with Total Petrochemicals to jointly market and license Total Petrochemicals’ polystyrene technology on a worldwide basis. The allliance is based on a licensing cooperation agreement recently signed by the two companies.

For more details on Shaw in alliance with Total to jointly market and license polystyrene technology worldwide click here

Lukoil to reviveg polypropylene production at Stavrolen post fire related shutdown

Russia’s Lukoil is close to reviving polypropylene production at its Stavrolen chemicals site in Budyennovsk, following a major fire at the end of 2011, as per European Plastics News. The mid-Decemberr blaze in the ethylene plant caused damage over €20 mln and also halted all production of polyethylene and PP at the site.

For more details on Lukoil to reviveg polypropylene production at Stavrolen post fire related shutdown click here

Global polymer trade impacted by rising freight rates

Sharply increasing freight costs are reported to be creating obstacles to global polymer trade- several sources complain that the volume of their shipments has fallen, and sellers complained that risiing costs are forcing them to take a firmer stance on their prices, as per ChemOrbis.

For more details on Global polymer trade impacted by rising freight rates click here

Shell signs agreement to evaluate petrochemical site in Pennsylvania

Shell Chemical LP (Shell) signed a land option agreement with Horsehead Corporation to evaluate a site in the US Appalachian region for a potential petrochemical complex. The complex includes an ethanne cracker that would upgrade locally produced ethane from Marcellus Shale gas production.

For more details on Shell signs agreement to evaluate petrochemical site in Pennsylvania click here

ONGC resume exports from Hazira after one month maintenance shutdown

Oil & Natural Gas Corp (ONGC) has resumed exports from Hazira port in early March after it was shut for a month due to maintenance. ONGC has sold a Hazira Apr 7-8 cargo to Itochu at a premium of aboutt US$50/ton to Middle East quotes.

For more details on ONGC resume exports from Hazira after one month maintenance shutdown click here

Naphtha prices in Asia continue to firm on steady demand from Taiwan and tight supply

Naphtha prices in Asia continue to firm as demand remained steady from Taiwan and supply remained tight on the back of refinery maintenance, as per Reuters. Formosa emerged in the spot market to seek unspecified volumes in second half April, after having already bought 100,000-120,000 tons of open-spec naphtha.

For more details on Naphtha prices in Asia continue to firm on steady demand from Taiwan and tight supply click here

NOVA to invest US$750-900 mln for 40% capacity increase at Joffre polyethylene plant

Nova Chemicals is planning to invest US$750-900 mln to increase its polyethylene production by 40% at its Joffre plant in Lacombe County, as per Globe Editor. A feasibility study is underway to presennt to the Board.

For more details on NOVA to invest US$750-900 mln for 40% capacity increase at Joffre polyethylene plant click here

Metabolix grants a patent license to NatureWorks LLC for new biopolymer blends

Metabolix, Inc., a bioscience company focused on bringing environmentally sustainable solutions to the plastics, chemicals and energy industries, has announced that it has granted a non-exclusive liceense to NatureWorks LLC for the U.

For more details on Metabolix grants a patent license to NatureWorks LLC for new biopolymer blends click here

BCPL set to implement Lepetkata project on schedule

Brahmaputra Cracker and Polymer Limited (BCPL) seems set to implement the Gas Cracker project at Lepetkata in Assam on schedule by July 2013, according to Secretary, Ministry of Chemical and Fertiliseer K Jose Cyriac, as per Economic Times.

For more details on BCPL set to implement Lepetkata project on schedule click here

Rail connectivity to be strengthened in AP PCPIR

Strengthening rail connectivity in the Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) by developing a coastal rail corridor between Kakinada and Visakhapatnam was announced by Railwaay Minister, as per Business Standard.

For more details on Rail connectivity to be strengthened in AP PCPIR click here

CPDC to relocate 50% of its overall production capacity to Jiangsu province

In a bid to cope with the park-rezoning resolution by the Taiwanese government, China Petrochemical Development Corp. (CPDC) has resolved to relocate half of its overall production capacity to Jiangsuu province, as per CENS.

For more details on CPDC to relocate 50% of its overall production capacity to Jiangsu province click here

New formulation ingredients to meet growing sustainability and quality needs of India’s expanding home and personal care markets

Clariant supports the growing sustainability and quality needs of India’s expanding home and personal care markets with the introduction of cutting-edge formulation ingredients at HPCI Congress India..

For more details on New formulation ingredients to meet growing sustainability and quality needs of India’s expanding home and personal care markets click here

Pallmann Group sets up in China to support China’s new policy for renewable resources and recycling technologies

Early in February, the China Ministry of Industry and Information Technology released a new industrial directory for renewable recycling resources and technology, aimed to push the comprehensive utiliization technology of renewable resources and recycling industry development in order to meet the twelve-five-year plan’s goal of sustainable growth.

For more details on Pallmann Group sets up in China to support China’s new policy for renewable resources and recycling technologies click here

Demand slowly picking up in Vietnam

Demand was considered sluggish for all products in Vietnam until a short while ago, as per ChemOrbis. This was despite relatively good demand as well as firmer prices seen in other regional markets inn Southeast Asia, supported by higher feedstock costs and the global upturn.

For more details on Demand slowly picking up in Vietnam click here

Oil prices fall as US crude stockpiles rise

Oil prices dipped to their lowest in more than a week in New York on news of a rise in US crude stockpiles and of Saudi Arabia’s pledge to make up for any shortage in shipments from Iran and help offsset the effect of economic sanctions on Iran.

For more details on Oil prices fall as US crude stockpiles rise click here

Closed arbitrage from Mediterranean to Asia tank NWE naphtha cracks, backwardation

Northwest Europe naphtha cracks and the balance-month, front-month backwardation have touched new lows as the arbitrage from the Mediterranean to Asia is now closed, as per Platts. The arbitrage opporrtunity, which opened in mid-February due to a naphtha shortfall in Asia, started to diminish last week, shutting out new participants.

For more details on Closed arbitrage from Mediterranean to Asia tank NWE naphtha cracks, backwardation click here

Mitsui plans to restructure PU business, to study further business alliances with SABIC

Mitsui Chemicals, Inc. and Saudi Basic Industries Corporation (SABIC) announced a License Agreement for manufacturing technology of TDI and MDI, feedstock for polyurethane, and to study further possibble business alliances.

For more details on Mitsui plans to restructure PU business, to study further business alliances with SABIC click here

Sibur Petrochemical Group acquires 80% stake from Gazprom in idle Baltic LNG site

Russian gas giant Gazprom has sold its 80% holding in the Baltic LNG project to the Sibur petrochemical group, as per Platts. Talks are underway by Sibur to acquire the balance 20% stake from Russia'ss largest shipper.

For more details on Sibur Petrochemical Group acquires 80% stake from Gazprom in idle Baltic LNG site click here

Yantai Wanhua to invest additional CNY 5.7 bln in upgrading technical facilities, expansion projects

China’s largest producer of MDI- Yantai Wanhua has announced a further investment plan of CNY 5.7 bln for 2012, totaling the overall investments currently being implemented to over CNY 30 bln as per PPU2PU.

For more details on Yantai Wanhua to invest additional CNY 5.7 bln in upgrading technical facilities, expansion projects click here

Italian PP buyers agree to pay sellers’ hike requests

European PP suppliers have come with price hike requests of up to €140/ton month over month, for March, as per ChemOrbis. The hikes were backed by the higher propylene contracts, plus talk of supply llimitations at some producers.

For more details on Italian PP buyers agree to pay sellers’ hike requests click here

Plans underway for caustic soda and EDC complex at Salalah Free Zone

Plans are progressing for a major Caustic Soda and ethylene dichloride (EDC) complex at Salalah Free Zone (SFZ). Promoters are set to break ground on the project before the end of 2012 and commission it by 2014-end.

For more details on Plans underway for caustic soda and EDC complex at Salalah Free Zone click here

A new line of protective coatings for the water transmission pipe industry

A new line of protective coatings for the water transmission pipe industry has been introduced by BASF. Elastocoat AC line of two-component polyurethane coatings are ideal for transmission pipes used in new installation and infrastructure renovation projects.

For more details on A new line of protective coatings for the water transmission pipe industry click here

Total inks deal with Kuwait Petroleum Corp to buy stake in Zhanjiang refinery and petrochemicals project

Total has signed an agreement with two units of state-run Kuwait Petroleum Corporation to take a stake in the Zhanjiang refinery and petrochemicals platform in China, as per Reuters. Total, Kuwait Pettroleum International and Petrochemicals Industries Company have signed a memorandum of understanding (MoU) to take part in the development of the 300,000 bpd full-conversion refinery integrated with petrochemicals and marketing, in partnership with China's Sinopec.

For more details on Total inks deal with Kuwait Petroleum Corp to buy stake in Zhanjiang refinery and petrochemicals project click here

Technip awarded FEED contract for Petronas refinery, petrochem project

Technip has been awarded a front-end engineering design (FEED) contract by PETRONAS for its proposed refinery and petrochemical integrated development (RAPID) project located in the state of Johor, Maalaysia.

For more details on Technip awarded FEED contract for Petronas refinery, petrochem project click here

Conference on High Performance Plastics and Rubber Machines for the Indonesian Market

For the first time, VDMA (Verband Deutscher Maschinen- und Anlagenbau - German Engineering Federation), the largest European engineering association will present a two day plastics and rubber conferennce on pre-processing, auxiliaries and peripherals, industrial and consumer packaging, infrastructure, energy efficiency for Indonesian plastics converters and users.

For more details on Conference on High Performance Plastics and Rubber Machines for the Indonesian Market click here

DuPont announces price increase in Europe for ethylene copolymer resins

With effect from April 1, 2012, DuPont Packaging & Industrial Polymers has announced a price increase of Euro 0.20/kg on all grades of Ethylene Copolymer resins in the region Europe, Middle East and AAfrica.

For more details on DuPont announces price increase in Europe for ethylene copolymer resins click here

Strong line-up of local and international companies at Indonesia’s Intl Printing, Packaging and Plastics Exhibitions

Strong international attendance from both exhibitors and visitors is expected as the countdown begins to Indonesia’s leading exhibitions for the printing, packaging and plastic industries from 11 to 114 April at Jakarta International Expo Kemayoran, Indonesia.

For more details on Strong line-up of local and international companies at Indonesia’s Intl Printing, Packaging and Plastics Exhibitions click here

Slower economic growth in China likely to lower energy demand: oil dips

Slower economic growth in China has raised concerns over oil demand from the world’s leading energy user. As a result, oil prices inched lower in Asia, as concerns over China's energy demand were stokked after customs data released Saturday showed the world's second largest economy swung to a huge trade deficit of US$31.

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PVC exports from Japan expected to remain low in 2012

In the wake of the devastating earthquake and tsunami that hit Japan in March 2011, the country’s PVC exports dropped because several plants at Kashima were shut. Just after the disaster, Japan, one oof Asia's largest PVC exporters, imported around 10,000 mt of PVC from Taiwan, South Korea and the US, as per Platts.

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Shaw Group Inc. awarded contracts for refinery upgrade at IRPC's Rayong plant

The Shaw Group Inc. has been awarded contracts to provide a process design package and technology license for the addition of a 30,000 bpd catalytic cracking (DCC) unit to IRPC's 215,000 bpd refinery in Rayong, Thailand.

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Successful commissioning of polyamide 6 plant at Formosa Chemicals & Fibre Corp

In autumn 2011 the plant engineering company Uhde Inventa-Fischer and Formosa Chemicals & Fibre Corporation (FCFC) of Taiwan successfully commissioned a plant for the production of high-performance poolyamide 6 for textile applications.

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High costs, uncertain demand continue to shroud petrochemical sector in Japan

Japan's steam crackers had escaped serious damage from the March 11, 2011 disaster and were able to recover much faster, as per Platts. Data from Japan Petrochemical Industry Association showed that ssteam cracker operations dropped from 95.

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Gap between import LLDPE, HDPE prices narrowing in China

Players in China report that the gap between import LLDPE and HDPE film prices has narrowed over the past few weeks as LLDPE prices have risen more rapidly than HDPE or LDPE film prices during the reecent rally in the Chinese PE market, as per ChemOrbis.

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Mangalore Refinery offers naphtha and mixed xylene from New Mangalore

Mangalore Refinery & Petrochemicals Ltd. (MRPL) has offered to sell a 35,000 ton naphtha cargo for loading in May and a 10,000 ton cargo of mixed xylene for loading from April 16 to April 25. Both thee cargoes are being offered from the port of New Mangalore on the west coast of India.

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Cracker operators in Asia mull run rate cuts in March as margins get hit by hike in feedstock prices

Recent rise in price of feedstock naphtha has impacted margins of cracker operators in Asia. As a result, these cracker operators are considering a reduction in run rates in March as per ICIS. Ethylenne margins based on naphtha feed fell in NE Asia into negative territory during the week ended 2 March.

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China mulls investment in several petrochemical projects in Iran

China plans to invest in 20 petrochemical projects in Iran, on Tuesday, lauding the country's advancement in petrochemical fields, as per FNA. China is Iran's top trade partner.
Iranian oil ministerr said.

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Total mulls petrochemical expansion of Port Arthur Refinery

Total SA (FP), is mulling addition of petrochemical capacity at its 174,000 bpd refinery in Port Arthur, Texas, to convert low- priced natural gas into more valuable chemical products, as per Bloomberrg.

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Benzene prices in Asia fall in line with declining crude

Benzene prices in Asia have fallen by almost US$12/ton as crude oil futures fell while the arbitrage window to the US remained shut. Prices were assessed at US$1189.50/mt FOB Korea, as per Platts. Spoot market activity shifted focus to May-loading cargoes March 7, from June on March 6.

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All major contracts for Saudi Sadara to be awarded by Q3-2012

Sadara Chemical Co., a joint venture between Saudi Arabian Oil Co. and Dow Chemical Co. (DOW), will award all major contracts by Q3-2012 to build its US$20 bln petrochemical complex, as per Zawya Dow Jones.

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Sinopec, Hainan province seek Centre approval for refinery and ethylene expansion in 2012

China Petroleum & Chemical Corp (Sinopec) and Hainan province aim to win final approvals from the central government this year to expand the 160,000 bpd Hainan refinery, as per Reuters. The provinciall government and Sinopec inked a cooperation agreement in December to add 100,000 bpd of crude refining capacity and 1 mln tpa of ethylene production capacity.

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Good demand pushes PVC prices up in Southeast Asia

Price hikes for PVC have surfaced this week in Southeast Asian countries with many regional producers up-adjusting their local and export offers, as per ChemOrbis. Apart from the push from higher inpuut costs, the healthy demand from the region has given sellers real support to ask for increases.

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Songwon’s growth path in 2011

Songwon Industrial Group finished 2011 on a high note having announced a number of key events that demonstrate how growth is at the heart of its success now and in the future. Capacity at its state- oof-the-art Maeam plant was increased making it one of the largest antioxidant additive facilities in the world and bringing Songwon’s total global manufacturing capacity of antioxidants to 80,000 tons.

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Italian PVC buyers pay large price hikes as supplies tighten

Local PVC availability in Italy has been squeezed due to the absence of several mainstream European suppliers, as per ChemOrbis. Some of the suppliers are still facing production issues at their plantts while some already sold out their restricted March allocations in the absence of other producers.

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Bio-based polymers for tire applications

Yulex, a developer of biobased elastomer products, has signed a joint development agreement with Cooper Tire & Rubber, a company specialized in the design, manufacture and marketing of light truck andd passenger car tires, to develop bio-based polymers for tire applications.

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3 layer film plant to produce lamination film at higher output with excellent quality levels

Kabra Gloucester demonstrated their first “KAGE” 3 layer film plant at their factory in Dunetha- Daman, India. “KAGE” is the brand name for film plants manufactured by Kolsite Group utilizing Gloucestter Engineering Co.

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Domestic polymer demand starts to improve in India

Market players report some improvement in domestic polymer demand in India at the start of March, as per ChemOrbis. Domestic producers opened the month with some increases for PP and PE and these inccreases did not prevent distributors from reporting an increased number of buying inquiries.

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Formosa to hike production of crude oil, petrochemicals in March on recovering global energy demand

As global energy demand recovers, Formosa Petrochemical expects crude runs to rise to 440,000 bpd in March from 320,000 bpd in February. Formosa is likely to process more crude oil and produce more peetrochemicals in March than in February 2012, expecting crude runs to rise to 440,000 bpd in March from 320,000 bpd in February.

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Indian chemical industry seeks increase of peak import duty on chemicals from 7.5% to 12.5%

The Indian chemical industry has an output of around US$80 bln and ranks 12th in the world while the size of the global chemical industry is in the region of US$ 3 Trillion. Basic Chemicals and Chemiccal Products (except products of Petroleum & coal) is the single largest group with 14.

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Growth in petrochem demand drives growth of Petrochemical Infrastructure Market

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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Total standstill for second day at the Assam Gas Cracker Project as one dies in police firing

Work came to a total standstill for the second day at the Assam Gas Cracker Project, as one person died in firing. On Friday, one worker died after personnel of the CISF opened fire to subdue a stone pelting crowd of project labourers, while four others were seriously injured.

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Polymeric foams market faces subdued demand, future growth possible on manufacturer initiatives

Though the polymeric foams market faces subdued demand in recent times, future growth would be favored by manufacturer initiatives such as introduction of classification-free PU foams, and emerging appplications such as foamed PVC for windows, doors and house siding, and use of cross-linked polyolefin foam in sports and leisure goods, as per Global Industry Analysts, Inc.

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Naphtha prices for H2-April end the week in Asia at around 10-month highs

Naphtha prices in Asia for front-month H2-April returned to levels around 10-month highs on Friday at US$1105.50/ton, but cracks and intermonth premiums weakened marginally due to demand that was subddued as compared with last week, as per Reuters.

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Local PE prices track import prices higher in SE Asia

This week, local PE prices in Southeast Asia moved higher, following the increases in import prices on announcement of higher March prices from overseas producers last week, as per ChemOrbis. Sellerss cited firm costs and relatively limited supply as support for their price increases while demand was said to be regular in the region.

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ONGC offers to sell 35,000 tons of naphtha for loading from Hazira in March

Oil & Natural Gas Corp. (ONGC) has offered to sell 35,000 tons of naphtha for loading from Hazira for loading March 25 to March 26.

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Uhde Inventa-Fischer commissions polyamide 6.6 plant for Huafon Group

Uhde Inventa-Fischer has successfully commissioned a plant for the production of polyamide 6.6 for its Chinese customer Huafon Group. The production plant has an annual capacity of 40,000 tons and is located at Huafon`s company headquarters in the city of Ruian in Zhejiang Province, PR China.

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Upward revision by Indian Oil in all polymer prices

Indian Oil Corp has announced increases in price of polymers wef 1st March 2012, as follows:
Polypropylene prices have increased by Rs 2000/mt
HDPE-80 prices have increased by Rs 1000/mt
All other

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China’s polymer markets squeezed between high costs and poor demand

Polymer markets have been firm since the beginning of 2012 in China with sellers attempting to raise offers for PP, PVC, PE and PS products due to the cost pressure from the upstream markets, as per CChemOrbis.

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Reliance to restart Jamnagar crude distillation unit

Reliance Industries Ltd. Plans to restart a 290,000 bpd crude distillation unit (CDU) at its Jamnagar refinery complex. The CDU has been shut since mid-February as per a planned three-week maintenancee schedule.

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Asia to see huge deep-sea naphtha cargo flows, prices expected to ease off

Asia’s naphtha prices that are hovering near 10 month highs, are expected to slide, on flow of approximately 1 mln tons of deep-sea cargoes into the region between H2-March and mid-April, as per ICIS..

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Concerns over Iran's nuclear ambitions continue to haunt investors, oil prices rebound

Concerns over Iran's nuclear ambitions have returned to haunt investors. Oil prices, sliding since Monday on profit-taking and worries that high energy costs could erode demand, have recoiled. New Yorrk's main contract, light sweet crude for delivery in April, saw marginal gains to rise to US$106.

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DSM reports strong performance in 2011 and increases dividend

2011 was another strong year for DSM despite the challenges of the global economy, adverse currency movements and high raw material costs. The company made good progress in Nutrition, and Polymer Inteermediates delivered its highest profitability in history.

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Russian state-owned nanotechnology corporation launches production of polymer nanocomposites

A company, backed by Rusnano, the Russian state-owned nanotechnology corporation, has launched the production of polymer nanocomposites using nanosilicates for applications including packaging, cable insulation and steel pipeline coating, as per European Plastics News.

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Higher monomer contracts lend support to PP, PVC, PE prices in Italy

The year 2012 has so far seen strong conditions in Europe’s upstream markets which continue to apply upward cost pressure on Italy’s polymer markets regardless of the ongoing slowness in end product bbusinesses, as per ChemOrbis.

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Elevance Renewable Sciences to partner Arkema to develop and produce renewable polymers

Elevance Renewable Sciences Inc. and Arkema have inked a global partnership for development and production of renewable specialty polymers. Elevance is providing novel, differentiated, functionalized renewable starting materials, including the company's 9-decenoic methyl ester, from its bio refineries.

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Naphtha cracks peak to 11 month highs in Asia

Persistent firmness in Asia's naphtha price on Tuesday, was accompanied by intermonth premiums of US$25/ton for H1-April and H1-May. This is the highest in about 26 months, and has been triggered by ppersistent tight supplies and cracks rising to an 11 month high, as per Reuters.

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West Bengal Industrial Development Corp sends back cheque by TCG for Rs 17 crore

In a major development on the battle for majority stakes between the promoters — the state government and TCG, the West Bengal Industrial Development Corporation (WBIDC) last week sent back a cheque bby TCG for Rs 17 crore.

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