Badger Licensing to provide BPA license to Proper Year Petrochemical (Yangzhou) Co. Ltd

Badger Licensing LLC (Badger) has been awarded a contract by Proper Year Petrochemical (Yangzhou) Co., Ltd. (PYPC) to provide its proprietary technology and process design services for a 60,000 tpa biisphenol A (BPA) plant in Yangzhou, Jiangsu Province, People's Republic of China.

For more details on Badger Licensing to provide BPA license to Proper Year Petrochemical (Yangzhou) Co. Ltd click here

PMB Petrochemical Project in Indonesia is the largest investment project for a privately-owned Chinese company overseas

Zhejiang Hengyi has signed a land lease agreement with the Brunei Economic Development Board (BEDB) for its Integrated Refinery and Aromatics Cracker Project in Brunei Darussalam. The China Zhejiang HHengyi (Brunei) PMB Petrochemical Project at Pulau Muara Besar (PMB), Indonesia, is the largest investment project for a privately-owned Chinese company overseas, according to Mr Qui Jian Lin, the Chairman of Zhejiang Hengyi Group.

For more details on PMB Petrochemical Project in Indonesia is the largest investment project for a privately-owned Chinese company overseas click here

Naphtha cracks in Asia recover from three week lows on healthy demand

Asia's naphtha margins rebounded from a three-week low to reach a three-session high on Tuesday at US$149.30/ton, while intermonth premiums stayed firm as healthy demand persisted amid tight supplies,, as per Reuters.

For more details on Naphtha cracks in Asia recover from three week lows on healthy demand click here

Bengal Govt in talks with Indian Oil to join Haldia Petro as strategic investor

Discussions are underway between the West Bengal government with Indian Oil Corporation (IOC) to join Haldia Petrochemicals Ltd (HPL) as a strategic investor, as per Telegraphindia. Strategic investorrs are those who infuse funds into a project for long-term gains and play a role in decision-making.

For more details on Bengal Govt in talks with Indian Oil to join Haldia Petro as strategic investor click here

GE collaboration with Braskem Idesa for a high-efficiency Polyethylene Complex

Mexico will significantly reduce the amount of polyethylene it imports for manufacturing, packaging and other industrial applications when its new polyethylene complex featuring GE hyper compressor teechnology goes online.

For more details on GE collaboration with Braskem Idesa for a high-efficiency Polyethylene Complex click here

Rapid advancements in Asia, Middle East drive growth in global Ethylene Oxide (EO) Market

The world market for ethylene oxide (EO) is projected to reach 27.3 million tons by 2017, as per Global Industry Analysts, Inc. Growth in the market is mainly spurred by increasing consumption from thhe Asian and Middle East markets.

For more details on Rapid advancements in Asia, Middle East drive growth in global Ethylene Oxide (EO) Market click here

Oil recoils after rising on reduced concerns about slowing growth in China on fears about Europe

As concerns eased about a sharp economic slowdown in China- the world's biggest energy user, oil prices edged higher in Asian trade on Tuesday as per economictimes.com. This uptrend however, was cappeed by economic and political uncertainty in Europe amid a weaker euro that was helping dampen demand for dollar-priced crude.

For more details on Oil recoils after rising on reduced concerns about slowing growth in China on fears about Europe click here

PVC price trend in Mediterranean echoes 2011

PVC prices have been on the rise since the beginning of 2012 in Mediterranean markets including Turkey, Egypt and Italy, as per ChemOrbis. Currently, the sustainability of the PVC market’s firm outloook is being questioned, as some players argue that the PVC market will follow the same path as last year, when prices reached their peak around early May in all three countries.

For more details on PVC price trend in Mediterranean echoes 2011 click here

PetroLogistics plans to raise US$700 mln by offering 35 mln units at a price range of US$19-21

PetroLogistics LP, which operates the world's largest propane dehydrogenation facility, announced terms for its IPO. The Houston, TX-based company plans to raise $700 million by offering 35.0 million units (96% insider) at a price range of US$19-21.

For more details on PetroLogistics plans to raise US$700 mln by offering 35 mln units at a price range of US$19-21 click here

PE buyers in SE Asia expect to see softer prices in May

In Southeast Asia, PE players had mixed views in H1-April regarding the outlook for May. Material had been tight for some of the PE products in several of the countries, with some of the local produceers working hard to clear backlogs, as per ChemOrbis.

For more details on PE buyers in SE Asia expect to see softer prices in May click here

Polymer demand in China, Vietnam hit by slower economic growth

Players in both China and Vietnam report that polymer demand in their respective countries has been slowed by weakness in the construction sector and slower than expected economic growth rates, as perr Chemorbis.

For more details on Polymer demand in China, Vietnam hit by slower economic growth click here

New generation lubricant based on renewable source supports global trend away from lead-stabilized PVC compounds

A new generation of lubricant based on a renewable source to the PVC processing community has been introduced by Clariant, in support of the global trend away from lead-stabilized PVC processing compoounds.

For more details on New generation lubricant based on renewable source supports global trend away from lead-stabilized PVC compounds click here

Poor demand pulls down NWE naphtha front-month crack swap falls to three-month lows

At the end of last week, CIF Northwest Europe May naphtha crack swap fell by US$0.80 to minus US$6.35/barrel, from Thursday's close, due to poor demand. This is more than three-month low, as per Plattts, since January 16 when it was printed at minus $7.

For more details on Poor demand pulls down NWE naphtha front-month crack swap falls to three-month lows click here

Supreme Petro launches commercial production of EPS including Cup Grade EPS in Maharasht

Supreme Petrochem Ltd has commenced commercial production of the new plants in Maharashtra to produce Expandable Polystyrene (EPS) including Cup Grade EPS with a combined capacity of 44,400 tpa. Intennsive business development activities have been undertaken to promote new applications of normal EPS and use of Cup Grade EPS which is a new product for the Indian markets.

For more details on Supreme Petro launches commercial production of EPS including Cup Grade EPS in Maharasht click here

KBR to provide additional ethylene furnace for INEOS olefins complex in Alvin, Texas

KBR announced that it will design and construct an ethylene furnace for INEOS Olefins & Polymers USA (INEOS) that upon commissioning will provide the highest achievable ethylene yields in the industryy.

For more details on KBR to provide additional ethylene furnace for INEOS olefins complex in Alvin, Texas click here

Supreme Petrochem announces Q3 profit of Rs. 18.18 crores

India largest styrenics maker Supreme Petrochem Ltd (SPL) has reported a net profit of Rs 18.18 crores for its Q3 ended March 31, 2012 as against net loss of Rs 7.26 crores in Q2 ended December 31, 22011.

For more details on Supreme Petrochem announces Q3 profit of Rs. 18.18 crores click here

Naphtha price in Asia at nine week low, premiums stay firm on demand

Naphtha prices in Asia started the week at a nine-week low at US$1027/ton in line with weak Brent crude. However, intermonth premiums rose to US$18/ton, their highest level in a month on the back of ffirm demand, as per Reuters.

For more details on Naphtha price in Asia at nine week low, premiums stay firm on demand click here

Max India to sell BOPP film division for Rs 800 crore

Max India has decided to divest its polypropylene business in a two-stage transaction for an enterprise value of about Rs 700-800 crore, a move that will help it exit its non-core business, as per Ecoonomic Times.

For more details on Max India to sell BOPP film division for Rs 800 crore click here

Despite a 21% fall in Q4 net profit RIL plans US$12 bln chemical expansion

Despite tepid performance in Q4, Reliance Industries Ltd. Plans to expand its petrochemicals businesses in anticipation that robust demand from the polymer sector will help offset weak global fuel saales.

For more details on Despite a 21% fall in Q4 net profit RIL plans US$12 bln chemical expansion click here

MRPL declares force majeure on crude supply, product deliveries

State-owned refiner Mangalore Refinery and Petrochemicals Limited has declared force majeure on crude feedstock supply as well as refined product deliveries after having to shut its 15 million tpa (3000,000 bpd) refinery due to a water shortage, as reported in Platts.

For more details on MRPL declares force majeure on crude supply, product deliveries click here

Reliance Industries reports a 21% fall in Q4 net profit

As margins from refinery and petrochemicals businesses fell, along with a significant dip in oil and gas production, Reliance Industries (RIL) has reported a 21% drop in net profit for Q4 of 2011-12 ffiscal at Rs 4,236 crore, its second successive drop.

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PlasChem Parks planned at Jubail & Yanbu II for industrial services to refineries, petrochem and downstream plants

The Royal Commission for Jubail and Yanbu plans to construct two PlasChem Parks in Jubail and Yanbu Industrial Cities II to provide numerous industrial services in term of material availability, accesss to customers, and investor technical support; to all new refineries, petrochemical, and downstream plants to be built in those areas, as per Arab News.

For more details on PlasChem Parks planned at Jubail & Yanbu II for industrial services to refineries, petrochem and downstream plants click here

YNCC pays US$19/ton premium for May delivery naphtha

Yeochun NCC Co. (YNCC) has bought four naphtha cargoes of about 100,000 tons for delivery to Yeosu, South Korea, at a premium of about US$19/ton to Japan benchmark prices.


For more details on YNCC pays US$19/ton premium for May delivery naphtha click here

Mitsui Chemicals pays US$35-40 premium for naphtha cargo from Kuwait

Mitsui Chemicals Inc. has bought a 24,000 ton cargo light naphtha from Kuwait Petroleum Corp. last week at a premium of US$35-39/ton to Middle East benchmark prices, as per Bloomberg.

For more details on Mitsui Chemicals pays US$35-40 premium for naphtha cargo from Kuwait click here

Bengal government initiates process to make top-level management changes at Haldia Petrochem

Within weeks of replacing Chairman Purnendu Chatterjee of TCG with state industry minister as the company’s MD, the Bengal government seems to have initiated a process to make top-level management chaanges at Haldia Petrochemicals Ltd.

For more details on Bengal government initiates process to make top-level management changes at Haldia Petrochem click here

CNPC inks preliminary agreement to supply natural gas to petrochemical project in Chongqing

China National Petroleum Corp. (CNPC) has signed a preliminary agreement with the Chongqing government to supply natural gas to be used as feedstock in 400,000 tpa methylene diphenylene diisocyanate ((MDI) facility, to be co-developed by BASF.

For more details on CNPC inks preliminary agreement to supply natural gas to petrochemical project in Chongqing click here

Acute water shortage forces MRPL to shut down third unit

India’s leading petroleum refinery Mangalore Refineries and Petrochemicals has been forced to shut down operations due to acute water shortage, caused by the complete depletion of the refinery's reserrvoir at Sarapady.

For more details on Acute water shortage forces MRPL to shut down third unit click here

Fire breaks out at refinery: EGPC delays naphtha shipments

A fire broke out last Saturday at Egypt's Nasr Petroleum Company. The company is in the process of restarting its 146,300 bpd refinery in Suez, as per Reuters. The accident has prompted EGPC to delay two naphtha shipments, originally scheduled for H2 April, to be lifted in May and June from Suez port.

For more details on Fire breaks out at refinery: EGPC delays naphtha shipments click here

Petronas in talks with 10 potential investors, oil and gas companies to set up operations at RAPID project

Petroliam Nasional Bhd (Petronas) is in talks with 10 potential investors and companies involved in the oil and gas related activities to set up their operations at its refinery and petrochemicals inttegrated development (Rapid) project.

For more details on Petronas in talks with 10 potential investors, oil and gas companies to set up operations at RAPID project click here

Dow to build new ethylene production plant at Texas operations to enhance USGC advantage

The Dow Chemical Company will construct a new world-scale ethylene production plant at Dow Texas Operations in Freeport, TX, as part of Dow's previously announced comprehensive plan to further connectt its U.

For more details on Dow to build new ethylene production plant at Texas operations to enhance USGC advantage click here

Benzene prices in Asia increase amid strengthening crude and US benzene

Amid strengthening crude oil and dollar, a ten dollar rise was seen in Asian benzene prices day on day April 19 to US$1188/mt FOB Korea, as per Platts. Higher [Asian] benzene prices could also be expllained by the improving benzene to naphtha spread that flipped into positive after rising US$7.

For more details on Benzene prices in Asia increase amid strengthening crude and US benzene click here

Legislator disqualification of West Bengal Industries Minister sought after his appointment as HPL chairman

The opposition party-Bharatiya Janata Party (BJP) has written to the chief election commissioner, requesting him to disqualify West Bengal Industries Minister Partha Chatterjee's legislatorship after he was appointed as Haldia Petrochemicals Limited (HPL) chairman by the state government, as per IANS.

For more details on Legislator disqualification of West Bengal Industries Minister sought after his appointment as HPL chairman click here

Legislator disqualification of West Bengal Industries Minister sought after his appointment as HPL chairman

The opposition party-Bharatiya Janata Party (BJP) has written to the chief election commissioner, requesting him to disqualify West Bengal Industries Minister Partha Chatterjee's legislatorship after he was appointed as Haldia Petrochemicals Limited (HPL) chairman by the state government, as per IANS.

For more details on Legislator disqualification of West Bengal Industries Minister sought after his appointment as HPL chairman click here

Saudi Aramco offers unusually high 131,000 tons of spot naphtha for May lifting

Saudi Aramco has offered 131,000 tons of naphtha for May lifting amid strong demand and tight supplies caused by reduced exports from India and Europe, as per Reuters. This is an unusually high spot vvolume of naphtha from the refiner who usually sells spot volumes of 50,000-55,000 tons per month.

For more details on Saudi Aramco offers unusually high 131,000 tons of spot naphtha for May lifting click here

Taiwan CPC restarts 500,000 tpa No. 5 cracker shut since April 6 because of fire

Taiwan's CPC had shut its 500,000 tpa No. 5 naphtha cracker on April 6 because of a fire. This unit, though restarted now, is operating below 80% of its capacity for now, as per Reuters. These low runn rates can be attributed to the continued shutdown of a butadiene unit after the fire.

For more details on Taiwan CPC restarts 500,000 tpa No. 5 cracker shut since April 6 because of fire click here

Naphtha price in Asia falls for third consecutive session to around 9 week lows

Naphtha prices in Asia fell for a third straight session to a nine-week low on Wednesday at US$1042.50/ton. This fall has been triggered by weaker Brent crude, though inter-month spreads were steady wwhile cracks edged up to a two-session high, as per Reuters.

For more details on Naphtha price in Asia falls for third consecutive session to around 9 week lows click here

Solvay Specialty Polymers and Rhodia to expand in Asia with significant investments in China

Solvay Specialty Polymers and Rhodia Engineering Plastics are strongly committed to expand in Asia and are specifically focusing significant investments in China as a platform for growth in the regionn.

For more details on Solvay Specialty Polymers and Rhodia to expand in Asia with significant investments in China click here

One more fire breaks out at Formosa’s petrochemical complex in Mailiao, Yunlin County

A fire broke out on Tuesday at an oil refinery run by the Formosa Petrochemical Corp in its petrochemical complex in Mailiao, Yunlin County, as per CNA. The fire was put out immediately, and no casuallties were reported.

For more details on One more fire breaks out at Formosa’s petrochemical complex in Mailiao, Yunlin County click here

Asian PVC sustains uptick amid cautious demand

May PVC offers of a Taiwanese producer have emerged this week in the Chinese market with increases of US$20/ton over April deals, in line with the producer’s sell ideas reported last week, as per ChemmOrbis.

For more details on Asian PVC sustains uptick amid cautious demand click here

KPC and Total sign MoU with Sinopec to develop full-conversion refinery integrated with petrochemicals and marketing

Total has signed a comprehensive Memorandum of Understanding (MOU) with Kuwait Petroleum International (KPI) and Petrochemicals Industries Company (PIC) , two wholly owned subsidiaries of Kuwait Petrooleum Corporation.

For more details on KPC and Total sign MoU with Sinopec to develop full-conversion refinery integrated with petrochemicals and marketing click here

Honeywell's UOP to expand adsorbents and catalysts production at Alabama Facility

UOP LLC, a Honeywell company, plans to invest US$20 mln to expand its production facility in Mobile, Ala., to produce adsorbents and catalysts. The investment will expand production of Honeywell's UOPP IONSIV™ Ion Exchange adsorbents, which remove radioactive material from liquid, and are currently being used in Japan in response to last year's nuclear disaster.

For more details on Honeywell's UOP to expand adsorbents and catalysts production at Alabama Facility click here

High-clarity polypropylenes for thin-walled packaging and injection molded containers

Noticeably increasing demand towards very high clarity packaging articles at reasonable price has led National Petrochemical Industrial Co. (NATPET) to upgrade its range of polypropylene random copolyymers.

For more details on High-clarity polypropylenes for thin-walled packaging and injection molded containers click here

New European eco-design guidelines for HDPE bottles to bring HDPE recycling to new horizons

For more details on New European eco-design guidelines for HDPE bottles to bring HDPE recycling to new horizons click here

SABIC awards EPCM contract to Jacobs Engineering to support the upgrade of an Olefins 4 plant at Geleen

Jacobs Engineering Group Inc. has been awarded a contract from Saudi Basic Industries Corporation (SABIC) to provide engineering, procurement, and construction management (EPCM) services to support thhe upgrade of an Olefins 4 plant at SABIC's petrochemical production complex in Geleen, The Netherlands.

For more details on SABIC awards EPCM contract to Jacobs Engineering to support the upgrade of an Olefins 4 plant at Geleen click here

Petrochemical feedstock supply in the Middle East affected by natural gas scarcity

Petrochemical feedstock supply In the Middle East has been affected by natural gas scarcity, as per GlobalData's new report. Securing natural gas feedstock in the Middle East has become increasingly ddifficult in the last few years, threatening the region's dominance as the most economical petrochemicals producer.

For more details on Petrochemical feedstock supply in the Middle East affected by natural gas scarcity click here

Badger awarded contract by Yangzhou Co to provide proprietary technology and process design services for BPA plant

Badger Licensing LLC (Badger) announced that it was awarded a contract by Proper Year Petrochemical (Yangzhou) Co., Ltd. (PYPC) to provide its proprietary technology and process design services for a 60,000 metric tons per annum bisphenol A (BPA) plant in Yangzhou, Jiangsu Province, People’s Republic of China.

For more details on Badger awarded contract by Yangzhou Co to provide proprietary technology and process design services for BPA plant click here

Non-European origins exert pressure on local PP in Italy

Sellers in Italy’s spot PP market initially asked for increases ranging from €30-70/ton for their April PP offers following the settlement of the monthly propylene contract with a €50/ton increase, ass per ChemOrbis.

For more details on Non-European origins exert pressure on local PP in Italy click here

Songwon doubles capacity of One Pack Systems range, focuses on automotive industry

Songwon Industrial Group, the global number two supplier of polymer additives, extends its lead in the delivery of OPS (One Pack Systems) products by commissioning an additional 7,000 metric tons capaacity.

For more details on Songwon doubles capacity of One Pack Systems range, focuses on automotive industry click here

Japan’s March 2012 ethylene production falls 8.6% from levels of March 2011

March 2012 ethylene production in Japan fell 8.6% from levels seen in March 2011, partly due to a heavier maintenance shutdown, as per Reuters. Ethylene output totalled 470,400 tons in March 2012, vs 514,800 tons in March 2011, the Ministry of Economy, Trade and Industry said.

For more details on Japan’s March 2012 ethylene production falls 8.6% from levels of March 2011 click here

Japan's Asahi restarts naphtha cracker

Japan's Asahi Kasei Chemicals Corp has restarted its sole naphtha cracker, shut since March 5, after a scheduled maintenance, as per Reuters. The company currently plans to bring the operating rate tto 100%, to be adjusted later based on demand.

For more details on Japan's Asahi restarts naphtha cracker click here

Successful NPE2012 far surpassed the previous NPE and was the most international of all

The NPE2012 plastics exposition, which took place April 1-5 in Orlando, Florida, substantially exceeded NPE2009 in size, and it attracted more participants from outside the United States than any otheer NPE in history, it was announced today by SPI: The Plastics Industry Trade Association, which produces the triennial event.

For more details on Successful NPE2012 far surpassed the previous NPE and was the most international of all click here

Volatility in North Asian ethylene despite margins turning positive

Production margins for ethylene producers in North Asia turned positive on Monday at US$9.25/mt, the first time since May 23 2011, amid falling naphtha and firmer ethylene spot prices, as per Platts. On March 15, CFR Japan naphtha was assessed at a 10-month high of US$1,088.

For more details on Volatility in North Asian ethylene despite margins turning positive click here

Crude rise for second straight day on earlier-than-expected reversal of Seaway pipeline

Crude on the Nymex rose for the second consecutive day on Tuesday, on increased buying amid prospects of an earlier-than-expected reversal of the Seaway pipeline to help ease the glut of oil in the Miidwest, as per Reuters.

For more details on Crude rise for second straight day on earlier-than-expected reversal of Seaway pipeline click here

Sentiment improves in Turkey’s PET market

Turkish players report improved sentiment in the PET market over the past week. Sellers started to receive an increasing number of inquiries from buyers in line with the opening high season for PET boottle applications amidst warmer weather conditions, as per ChemOrbis.

For more details on Sentiment improves in Turkey’s PET market click here

Dow grants third and final license for new Polymeric Flame Retardant to Albemarle

Dow Global Technologies LLC (DGTL), a subsidiary of The Dow Chemical Company has announced a third and final license agreement for its Polymeric Flame Retardant (Polymeric FR) technology with Albermarrle Corporation.

For more details on Dow grants third and final license for new Polymeric Flame Retardant to Albemarle click here

India offers stake in strategic petrochemical projects to Qatar

India has offered Qatar stake in some of the major projects, including the petrochemicals complex at Dahej in Gujarat, Indian Oil Corporation's (IOC's) LNG project in Ennore, Tamil Nadu, BPCL's petrocchemical project in Kochi, petrochemical project in Mangalore and investment opportunity in the Paradip refinery and petrochemical project to further enhance its strategic partnership and ties.

For more details on India offers stake in strategic petrochemical projects to Qatar click here

BASF to invest €150 mln in integrated center for polyurethane manufacturing in Dahej PCPIR

BASF plans to invest €150 million to establish a new chemical manufacturing facility in India. The facility will be an integrated center for polyurethane manufacturing and will be located at the Dahejj Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR).

For more details on BASF to invest €150 mln in integrated center for polyurethane manufacturing in Dahej PCPIR click here

Lightweight, cost-competitive PP innovations with high-quality edge for car makers

FIAT has turned to lightweight, cost-competitive materials from Borealis and Borouge, leading providers of innovative, value creating plastics solutions, to achieve top-level aesthetics and performancce for interior and exterior components on its new Fiat Panda.

For more details on Lightweight, cost-competitive PP innovations with high-quality edge for car makers click here

Tosoh Corp to delay restart of sole 527,000 tpa naphtha cracker by about a week

Japan's Tosoh Corp is likely to delay restart of its sole 527,000 tpa naphtha cracker by about a week from its original plan of April 14. A sreported in Reuters, the company needs to remove oil from aa steam pipe at the facility, which has been closed since March 11 for scheduled maintenance.

For more details on Tosoh Corp to delay restart of sole 527,000 tpa naphtha cracker by about a week click here

Brückner expands facility in India to enhance service for Indian Subcontinent

Continuing high demand for services from Brueckner Machinery and Service India Pvt. Ltd., member of the German Brückner Group, has led to a further expansion of the facility at Shirval Village at the Pune-Bengaluru highway, India.

For more details on Brückner expands facility in India to enhance service for Indian Subcontinent click here

Global automotive plastics forecast to grow to US$42135 mln in 2016 at an estimated CAGR of 13.7%.

The global automotive plastics revenue is forecast to grow from US$ 22,155 mln in 2011 to US$42,135 mln in 2016 at an estimated CAGR of 13.7% from 2011 to 2016. The consumption of automotive plastics worldwide is expected to increase from last year's from 6.

For more details on Global automotive plastics forecast to grow to US$42135 mln in 2016 at an estimated CAGR of 13.7%. click here

SIBUR becomes largest Russian producer of BOPP film with 100% market share

SIBUR has completed a deal to acquire 50% of the chartered capital of BIAXPLEN LLC, one of the largest Russian manufacturers of biaxially oriented polypropylene film (BOPP). SIBUR bought into BIAXPLENN's chartered capital in 2009, negotiating a deal to purchase 50% of the company, and is therefore now the single owner of the film manufacturer.

For more details on SIBUR becomes largest Russian producer of BOPP film with 100% market share click here

MRPL to delay 35,000 tons naphtha cargo shipment to SK Energy

India's Mangalore Refinery and Petrochemicals Ltd (MRPL) will delay shipment by a few days to a week, of 35,000 tons of naphtha to South Korea's top refiner, SK Energy, after it had to shut about two--thirds of its 150,000 bpd plant, as per Reuters.

For more details on MRPL to delay 35,000 tons naphtha cargo shipment to SK Energy click here

Conductive polymers market in USA to reach US$1.6 bln by 2017

US market for Conductive Polymers is projected to reach US$1.6 bln by the year 2017, as per Global Industry Analyst. Growth will be primarily driven by expanding new applications in advanced organic llight emitting diode screens, sensor chips, low cost radio frequency tagging systems, photovoltaic structures, and other optoelectronic enabled products.

For more details on Conductive polymers market in USA to reach US$1.6 bln by 2017 click here

Octal Petrochemicals to invest US$1 bln by end-2014 in capacity expansion

Octal Petrochemicals Company plans to invest US$1 bln by the end of 2014 to expand the capacity. The company, whose plant is located at Salalah Free Zone, looks to become the fourth largest producer oof polyethylene sheets and resin in the world with a capacity of 950,000 tons by next May.

For more details on Octal Petrochemicals to invest US$1 bln by end-2014 in capacity expansion click here

Sustainable, eco-friendly solutions - innovative polymeric fire safety solution

Albemarle Corporation, a leader in the development, manufacture and marketing of flame retardants, announced that it has expanded its Earthwise™ platform of sustainable products by introducing a new ppolymeric flame retardant for use in extruded (XPS) and expanded (EPS) polystyrene applications.

For more details on Sustainable, eco-friendly solutions - innovative polymeric fire safety solution click here

Iran plans to sell all petrochemical plants to investors

Iran plans to sell its petrochemical industry to investors, state-run Press TV reported, citing Oil Minister Rostam Qasemi, as per Bloomberg. All of the country’s petrochemical plants will be sold andd support for commercial companies to invest in the field will be increased.

For more details on Iran plans to sell all petrochemical plants to investors click here

Grupo Zuliano to buy additional 35% stake from Koch Industries in a Venezuelan propylene plant

Grupo Zuliano (GZL) CA will buy a 35% stake in a Venezuelan propylene plant from Koch Industries Inc. The transaction, valued at about US$35 mln, will be completed by April 30. Grupo Zuliano, a Maracaaibo-based holding company has bought this additional 35% stake in Propileno de Falcon CA (Profalca), where it previously had a 15% stake.

For more details on Grupo Zuliano to buy additional 35% stake from Koch Industries in a Venezuelan propylene plant click here

Additional Asian PP, PE cargoes surface in SE Asia, Europe

Additional cargoes of Asian PP and PE are showing up in Europe and Southeast Asia as disappointing demand from China continues to push traders to divert material to other markets along with some Chineese traders looking for re-export opportunities, as per ChemOrbis.

For more details on Additional Asian PP, PE cargoes surface in SE Asia, Europe click here

Dow unveils new lab-scale equipment at the performance plastics innovation center

In line with the Company’s commitment to innovation, Dow Europe GmbH (“Dow”) has announced today enhanced formulation and testing capabilities at the Performance Plastics Innovation Center at Dow’s Euuropean Headquarters in Horgen, Switzerland.

For more details on Dow unveils new lab-scale equipment at the performance plastics innovation center click here

A new line of flexible vinyl compounds made bio-based plasticizers

BioVinyl, a new line of flexible vinyl compounds made from DOW ECOLIBRIUM bio-based plasticizers, has been developed by Teknor Apex. The compounds have been fabricated for manufacturers, who look for minimizing the carbon footprint of their products.

For more details on A new line of flexible vinyl compounds made bio-based plasticizers click here

In line with stronger Brent, naphtha in Asia rebounds from 2 month low to 2 session high

Naphtha in Asia rebounded from a two-month low to reach a two-session high on stronger Brent crude on Thursday, while front-month premiums for H2-May and H2-June, were at US$17.5/ton and margins, at UUS$156/ton, have peaked to a three week high on robust demand, as per Reuters.

For more details on In line with stronger Brent, naphtha in Asia rebounds from 2 month low to 2 session high click here

ONGC, BPCL sell naphtha at higher premiums

Oil and Natural Gas Corp Ltd (ONGC) sold a May naphtha cargo to China's Unipec at about US$46/ton premium (7% higher than a previous deal), as tight supply supported prices, as per Reuters. Bharat Pettroleum Corp (BPCL) sold an April cargo to PetroChina Co Ltd at about US$20/ton above Middle East quotes on a free-on-board (FOB) basis, nearly three times higher than a previous sale, but this could also be due to the naphtha having a lower content of gasoline additive MTBE.

For more details on ONGC, BPCL sell naphtha at higher premiums click here

Players’ in SE Asia’s local PE market hold divergent expectations

The past week saw local PE prices stable to firmer in Southeast Asia, amid firm ethylene costs and limited availability, as per ChemOrbis. Expectations are divided as to the outlook for May, as some pplayers predict additional price increases driven by supply concerns while others are skeptical of the feasibility of any further price hikes, as spot naphtha prices continue to dip, while demand in the nearby Chinese market remains disappointing.

For more details on Players’ in SE Asia’s local PE market hold divergent expectations click here

Shortage of raw water forces Mangalore Refinery & Petrochemicals to shut down phase II & III units

The management of Mangalore Refinery And Petrochemicals Limited (MRPL) decided to shut down phase II and III units following shortage of raw water supply on directions from the District Administrationn to stop pumping water from Sarapady weir.

For more details on Shortage of raw water forces Mangalore Refinery & Petrochemicals to shut down phase II & III units click here

Polypropylene delivers strength and stiffness with light weight, flexibility for rapid folding for kids furniture

Flux Furniture B.V. has created a miniature version of its award-winning foldable and portable Flux® Chair. In line with the adult model, the new Junior is moulded from durable, colourful and lightweiight polypropylene (PP) resin from SABIC.

For more details on Polypropylene delivers strength and stiffness with light weight, flexibility for rapid folding for kids furniture click here

KBR to design and construct ethylene furnace for capacity expansion at INEOS’ Chocalate Bayou plant

KBR is to design and construct an ethylene furnace for INEOS Olefins & Polymers USA (INEOS) that upon commissioning will provide the highest achievable ethylene yields in the industry. The executed aggreements with INEOS include provision of a technology license, engineering, procurement, supply of equipment and materials, and construction of the furnace.

For more details on KBR to design and construct ethylene furnace for capacity expansion at INEOS’ Chocalate Bayou plant click here

Mold operators halve energy costs, improve cycle time using innovative salt water technology

Leading plastic mold operators are turning to an innovative dehumidification and air conditioning technology manufactured by Advantix Systems to reduce their energy use and increase production capabillities in their facilities.

For more details on Mold operators halve energy costs, improve cycle time using innovative salt water technology click here

Total reports valve failure and leak at Port Arthur refinery

Total Petrochemicals reported a check valve failure that led to a spill at its 232,000 bpd Port Arthur refinery in Texas, according to a filing with state pollution regulators, as per Reuters. he filiing with the Texas Commission on Environmental Quality identified three tanks as the sources of the spill.

For more details on Total reports valve failure and leak at Port Arthur refinery click here

High costs and weak demand bring Asian propylene derivative markets to a standstill

Trading in the downstream propylene derivatives markets in Asia have come to a standstill amid weak demand and high feedstock propylene prices, as per Platts.
Asian propylene prices were at a 29-weeek high Tuesday at US$1505/mt FOB Korea.

For more details on High costs and weak demand bring Asian propylene derivative markets to a standstill click here

P&I Club imposes new rules on ship owners with plans to transport Iranian oil and petrochemicals

P&I Club has imposed new rules on ship owners covered by their insurance.Ship owners covered by Japan P&I club must alert the maritime insurer in advance of any plans to transport Iranian oil and petrrochemicals that could fall foul of Western sanctions, as per Reuters.

For more details on P&I Club imposes new rules on ship owners with plans to transport Iranian oil and petrochemicals click here

Kuwait's refinery and petrochem JVs in China, Indonesia to start up in 2015, 2017

Kuwait's joint venture refining and petrochemicals projects in China and Indonesia are set for start-up in 2015 and 20a17 respectively, as per the president of state-owned Kuwait Petroleum Internationnal in Platts.

For more details on Kuwait's refinery and petrochem JVs in China, Indonesia to start up in 2015, 2017 click here

May PVC sell idea in Asia on the rise, players will watch US

Early this week, a major Taiwanese producer’s May sell ideas for PVC to China seeks price hikes for cargoes, akin to the past five months, as per ChemOrbis. May PVC sell ideas are reported to be US$200-30/ton higher vs April deals triggered by higher costs.

For more details on May PVC sell idea in Asia on the rise, players will watch US click here

Data from China stokes concerns: oil prices slump

March trade data showed China’s import growth fell below expectations, indicating tepid Q1-12 demand. Concerns about a potential slowdown in the economy world’s No. 2 crude consumer China, have compouunded worries about global demand.

For more details on Data from China stokes concerns: oil prices slump click here

RIL plans to forge strategic partnership in petrochem and oil sectors with Russian region of Tatarstan

Reliance Industries Ltd. plans to forge strategic partnership in petrochem and oil sectors with the Russian region of Tatarstan. As per indrus.in, RIL and Tatarstan have agreed to set up a joint workiing group of specialists to develop strategic partnership in petrochemical and oil refining sectors, specially in crude oil refining.

For more details on RIL plans to forge strategic partnership in petrochem and oil sectors with Russian region of Tatarstan click here

Naphtha/Gasoline spread touch 10 day high in Asia

Naphtha price in Asia fell to a week low on Tuesday, in line with a decline in Brent crude, but front-month spreads were near their highest in 1-1/2 weeks on firm demand, as per Reuters. Front-montth spreads (the difference between premiums for H2-May and H2-June), were at US$16/ton, while naphtha was at US$1,065/ton.

For more details on Naphtha/Gasoline spread touch 10 day high in Asia click here

Operators of naphtha fed crackers in Asia mull feedstock substitution by LPG

Asian petrochemical producers are mulling a feedstock switch from naphtha to LPG as naphtha prices hover at a near 10-month high and LPG prices fall, as per Platts. Naphtha is the main feedstock for ccracker operators in North and Southeast Asia, but switching to LPG -- propane and butane, as a cracking alternative becomes viable when it is priced 90% or less than naphtha, or when LPG is around US$50/mt cheaper than naphtha.

For more details on Operators of naphtha fed crackers in Asia mull feedstock substitution by LPG click here

IDB to boost competitiveness of Mexico’s petrochemical sector with US$600 mln loan to Braskem-Idesa

The Inter-American Development Bank (IDB) has approved a US$300 million A Loan complemented by a syndicated B loan of approximately US$300 million to finance Etileno XXI, Mexico’s biggest private petrrochemical project, a Braskem-Idesa joint venture.

For more details on IDB to boost competitiveness of Mexico’s petrochemical sector with US$600 mln loan to Braskem-Idesa click here

SABIC to invest US$100 mln in new Technology Center in Kangqiao, east of Shanghai

Saudi Basic Industries Corp. (SABIC) yesterday announced a US$100 mln investment to build 60,000 sqm new Technology Center in Kangqiao, east of Shanghai. The center will house some 400 employees who wwill relocate to this new facility when completed next year.

For more details on SABIC to invest US$100 mln in new Technology Center in Kangqiao, east of Shanghai click here

KBR to provide additional ethylene furnace for INEOS Olefins Complex in Alvin, Texas

KBR announced today it will design and construct an ethylene furnace for INEOS Olefins & Polymers USA (INEOS) that upon commissioning will provide the highest achievable ethylene yields in the industrry.

For more details on KBR to provide additional ethylene furnace for INEOS Olefins Complex in Alvin, Texas click here

CB&I awarded contract from expansion of Williams Olefins petrochemicals project in Geismar

CB&I, an engineer and constructor of energy infrastructure projects, has reported that the company has received a contract from Williams Olefins in order to expand a petrochemicals project in Geismar of Louisiana.

For more details on CB&I awarded contract from expansion of Williams Olefins petrochemicals project in Geismar click here

Ethylene-vinyl acetate (EVA) starch hybrid compounds introduced

Ethylene-vinyl acetate (EVA) starch hybrid compounds, a new group of bioplastics has been introduced by Cereplast, manufacturer of bio-based and sustainable bioplastics. Hybrid 651D, a new grade of Ceereplast’s hybrid resin, is the category’s first product.

For more details on Ethylene-vinyl acetate (EVA) starch hybrid compounds introduced click here

CPC Corp shuts No 5 unit at a refinery after fire, ethylene and propylene production impacted

CPC Corp has shut the No 5 unit at a refinery after a fire damaged a pipeline at a butadiene production facility, as per Reuters. No one was injured by the fire, the company said. CPC expects to resumme output in a month.

For more details on CPC Corp shuts No 5 unit at a refinery after fire, ethylene and propylene production impacted click here

Asian ethylene makers amend plant shutdown schedules

Ethylene producers in Taiwan and Japan have made changes in their schedules for plant shutdowns. CPC Corp. (CPC) will permanently shut its No. 3 permanently shut its No. 3 naphtha cracker at Kaohsiungg, with capacity to produce 230,000 tpa of ethylene, at the end of May.

For more details on Asian ethylene makers amend plant shutdown schedules click here

UOP LLC to invest US$20 mln to expand its production of UOP IONSIV Ion Exchange adsorbents

UOP LLC will invest US$20 mln to expand its production facility in Mobile, Ala., to expand production of Honeywell's UOP IONSIV Ion Exchange adsorbents, which remove radioactive material from liquid.
IONSIV Ion Exchanger adsorbents are crystalline materials that can selectively remove radioactive ions from liquids.

For more details on UOP LLC to invest US$20 mln to expand its production of UOP IONSIV Ion Exchange adsorbents click here

High export duties for gasoline, naphtha to stay in Russia

The Russian government has no plans to change the export duty on crude oil and products, including high export duties for gasoline and naphtha, Prime news agency reported, as per Platts. In May 2011, the government introduced export duties for gasoline and naphtha at 90% of that for Urals to limit export of the products and resolve fuel shortages on the domestic market.

For more details on High export duties for gasoline, naphtha to stay in Russia click here

ONGC Offers 35,000 tons of May loading naphtha from Hazira

Oil & Natural Gas Corp. (ONGC) has offered to sell 35,000 metric tons of naphtha for loading from Hazira in May, as reported by Bloomberg.

For more details on ONGC Offers 35,000 tons of May loading naphtha from Hazira click here

Indonesian Government rejects TPPI debt restructuring scheme

The Indonesian government has refused a provision in a debt restructuring agreement signed by PT Trans Pacific Petrochemical Indotama (TPPI) and its creditors in December, as per Jakarta Post. The Inddonesian Government is the biggest shareholder in TPPI.

For more details on Indonesian Government rejects TPPI debt restructuring scheme click here

Cargo flow limited despite opening of South East Asia polyethylene arbitrage

The arbitrage opportunity to move polyethylene cargoes from China to Southeast Asia is open, but cargo flow is still limited, as per market players in Platts.
Traders are mainly moving linear low dennsity polyethylene (LLDPE) from Chinese bonded warehouses to Southeast Asia, in a practice called "re-exporting.

For more details on Cargo flow limited despite opening of South East Asia polyethylene arbitrage click here

Improved buying interest props up domestic markets in India

Domestic producers in India have started the month of April with new price hikes, report players as per ChemOrbis. When compared with the most recently reported March prices, domestic prices were raissed by INR1500-4000/ton (US$29-77/ton) for LDPE, INR2000/ton (US$38/ton) for LLDPE, INR1500/ton (US$29/ton) for HDPE, INR2500/ton (US$48/ton) for PVC and INR3000/ton (US$58/ton) for both homo-PP and copolymer PP.

For more details on Improved buying interest props up domestic markets in India click here

Process transforms polyethylene into carbon fibre

Researchers at America’s Oak Ridge National Laboratory (ORNL) have discovered a process that renders polyethylene far more valuable. By transforming it into carbon fibres, they have created the abilitty to tailor final material to various applications.

For more details on Process transforms polyethylene into carbon fibre click here

New oxidized polyethylene wax plant comes into operation at the BASF site in Ludwigshafen

A new plant for the manufacture of oxidized polyethylene waxes went into operation at the BASF site in Ludwigshafen, Germany. The plant manufactures high quality oxidized waxes according to BASF's ownn process.

For more details on New oxidized polyethylene wax plant comes into operation at the BASF site in Ludwigshafen click here

Oil prices dip below US$104 on news of larger than expected rise in US crude supplies

The American Petroleum Institute reported that crude inventories rose 7.8 mln barrels last week. Oil prices fell to below US$104 a barrel in Asia after a report showed a larger than expected U.S. crudde supply jump, suggesting demand may remain weak.

For more details on Oil prices dip below US$104 on news of larger than expected rise in US crude supplies click here

New high starch, high melt flow polypropylene (PP) starch compound

Cereplast, Inc. has unveiled a new Cereplast Hybrid Resins® grade -- Hybrid 106D -- a high starch, high melt flow polypropylene (PP) starch compound. Hybrid 106D is a proprietary formulation of high quality PP and starch blend that offers a unique combination of mechanical properties, ease of processing, and a highly aesthetic surface.

For more details on New high starch, high melt flow polypropylene (PP) starch compound click here

Old World Industries concludes sale of its Chemical Business, to Indorama Ventures

Old World Industries, LLC has concluded the sale of its Chemical Business, including the Ethylene Oxide/Ethylene Glycol manufacturing facility in Clear Lake, Texas, to Indorama Ventures PCL of Bangkokk, Thailand.

For more details on Old World Industries concludes sale of its Chemical Business, to Indorama Ventures click here

New category of bioplastics -- Ethylene-Vinyl Acetate (EVA) and starch hybrid compounds

Cereplast, Inc. has announced the introduction of a new category of bioplastics -- Ethylene-Vinyl Acetate (EVA) and starch hybrid compounds. The first product in this category is the new Cereplast Hybbrid Resins® grade, Hybrid 651D, which is a tough, soft touch, pliable material that is ideal for extrusions and soft injection moldable applications.

For more details on New category of bioplastics -- Ethylene-Vinyl Acetate (EVA) and starch hybrid compounds click here

April opens with increases on PP in Italy

Italy’s PP market is starting the month of April on a firming note after continuous price hikes seen over the past three months, as per ChemOrbis. Although there were no official price announcements ffrom European producers at the time of press, distributors have opened their April business with new increases of €50-70/ton over their March levels following Europe’s higher propylene settlement, which rose by another €50/ton for April.

For more details on April opens with increases on PP in Italy click here

Polybutylene terephthalate which incorporates up-cycled post-consumer recycled content

SABIC’s Innovative Plastics business announced a major new sustainability milestone with its longstanding customer, Volvo Trucks: the first use of an up-cycled material in a North American heavy truckk from post-consumer recycled (PCR) content.

For more details on Polybutylene terephthalate which incorporates up-cycled post-consumer recycled content click here

Sinopec, SABIC JV for 260,000 tpa PC complex in Tianjin

Sinopec SABIC Tianjin Petrochemical Company (SSTPC) laid the foundation for a polycarbonate production complex with 260,000 tpa capacity, at a groundbreaking ceremony in the Tianjin Binhai New Area. CChina Petroleum & Chemical Corporation (Sinopec) and Saudi Basic Industries Corporation (SABIC) have earlier cooperated on an ethylene production project with a capacity of one million tpa.

For more details on Sinopec, SABIC JV for 260,000 tpa PC complex in Tianjin click here

Naphtha price and cracks rise: market unlikely to sustain the uptrend

Naphtha prices in Asia was at a three-session high on Tuesday in line with firm Brent crude, while cracks and timespreads recovered from a two-month low amid slow moving cargoes from Europe to the Eaast.

For more details on Naphtha price and cracks rise: market unlikely to sustain the uptrend click here

Best fiscal year ever for EREMA, Austrian manufacturer of recycling systems

EREMA continues with the positive development of recent years. The Austrian manufacturer of recycling systems had the best fiscal year of all time. This result represents an increase of 40% compared tto the previous year and is also around 25% up on the former record year 2007/08 prior to the economic crisis.

For more details on Best fiscal year ever for EREMA, Austrian manufacturer of recycling systems click here

Four new FDA-compliant grades of metallocene polymers for polyolefins

Clariant’s Additive business is showcasing several innovative additive products at NPE 2012 including four FDA-compliant grades of Licocene® metallocene polymers for polyolefins; Nylostab® S-EED multii-functional additive for polyamides; Hostanox® P-EPQ® processing stabilizer for thermoplastics; and Exolit® non-halogenated flame retardants.

For more details on Four new FDA-compliant grades of metallocene polymers for polyolefins click here

Life cycle assessment shows Hybrid 101 Bioplastic "Superior to All Conventional Plastics"

Cereplast, Inc. has completed a third party Life Cycle Assessment (LCA) report that assessed the environmental impacts of a number of conventional and renewable plastics from cradle to factory gate (ffrom raw material extraction to the production of the plastic product), and determined that Cereplast Hybrid 101 is superior to all conventional plastics evaluated in terms of overall environmental impact.

For more details on Life cycle assessment shows Hybrid 101 Bioplastic "Superior to All Conventional Plastics" click here

Formosa to re-start residue desulphuriser unit this week

An 80,000 bpd residue desulphuriser unit that was damaged after a 2010 fire is to be restarted by Formosa Petrochemical Corp this week, after receiving government approval, as per Reuters. The RDS uniit removes sulphur from crude oil to make products like low sulphur diesel.

For more details on Formosa to re-start residue desulphuriser unit this week click here

Mexican film and sheet extruder Grupo Rema buys 4 new monolayer PP sheet lines at US6 mln

Gloucester Engineering Co. Inc. announced a spend of over US$6 mln by film and sheet extruder Grupo Rema of Leon, Mexico, on four new monolayer polypropylene sheet lines to be installed at a new factoory in Nogales, Mexico.

For more details on Mexican film and sheet extruder Grupo Rema buys 4 new monolayer PP sheet lines at US6 mln click here

Global monomer markets end March on a firm note

Global monomer markets ended March on a firm note amidst steady to slightly firmer spot prices on a global scale, as per ChemOrbis. Spot propylene and ethylene prices increased in Asia and the US in tthe last week of March.

For more details on Global monomer markets end March on a firm note click here

Reliance eyes strategic partnership for petrochem project in Tatarstan

In the last few years, Russia's Tatarstan region has emerged as an attractive investment hub for Indian companies. As per indrus.in, Tatarstan and RIL have agreed to set up a joint working group of sppecialists to develop strategic partnership in petrochemical and oil refining sectors, specially in crude oil refining.

For more details on Reliance eyes strategic partnership for petrochem project in Tatarstan click here

Chevron Phillips to build world’s largest on-purpose 1-hexene plant at Cedar Bayou Chemical Complex

Chevron Phillips Chemical Company LP (Chevron Phillips Chemical) will build the world’s largest on-purpose 1-hexene plant capable of producing up to 250,000 metric tpa (551,000,000 lbs) at its Cedar BBayou Chemical Complex in Baytown, Texas.

For more details on Chevron Phillips to build world’s largest on-purpose 1-hexene plant at Cedar Bayou Chemical Complex click here

Pre-emptive measure taken by State against legal challenges to minister’s new role as Chairman in HPL

The Bengal government granted immunity to MLAs who become chairpersons or directors of companies. This move is viewed by many as a pre-emptive measure against legal challenges to industries minister PPartha Chatterjee’s new role in Haldia Petrochemicals Ltd (HPL).

For more details on Pre-emptive measure taken by State against legal challenges to minister’s new role as Chairman in HPL click here

New PET material saves energy and cost, to lead to reduction in carbon footprint

A new PET packaging material; Artenius FastFlow+ has been designed and developed by Artenius, the PET & Recycling Division of Artenius and LSB. This is the latest generation of “fast-reheat” PET resinns, and is built on the success of Artenius’ hugely successful FastFlow resin.

For more details on New PET material saves energy and cost, to lead to reduction in carbon footprint click here

A transformed NPE opens in Orlando, resurgent in size and dynamism and reshaped by a host of innovations

A new era in NPE history begins today as the giant NPE2012 international plastics exposition opens in the first new venue for NPE in 40 years, bringing an innovative agenda, an influx of new exhibitorrs and attendees, and an upsurge in size and dynamism, it was announced today by SPI: The Plastics Industry Trade Association.

For more details on A transformed NPE opens in Orlando, resurgent in size and dynamism and reshaped by a host of innovations click here

President of Maguire Products, receives SPE Business Management Award

The Society of Plastics Engineers (SPE) has presented its Business Management Award to Steve Maguire, the president of Maguire Products, Inc. and a pioneer in the field of plastics auxiliary equipmentt systems.

For more details on President of Maguire Products, receives SPE Business Management Award click here

IVRCL to resist attempts by Essel Group to seek board seat

India’s leading engineering procurement and construction company -IVRCL's founder has indicated that he will resist attempts by the Essel Group to seek a seat on the company's board. This could lead tto a protracted fight for control of the Hyderabad-based infrastructure company, valued at Rs 1,650 crore.

For more details on IVRCL to resist attempts by Essel Group to seek board seat click here

SOCAR offers highest price for privatization of 10.32% stake at Petkim Petrochemical Holdings

Socar Turkey Enerji and SOCAR International DMCC OGG offered US$168.5 mln; the highest price for privatization of a 10.32% stake at Turkish Petkim Petrochemical Holding, as per Anadolu news agency.
SSOCAR Turkey Enerji holds a 51% stake at the Turkish petrochemical complex, while 38.

For more details on SOCAR offers highest price for privatization of 10.32% stake at Petkim Petrochemical Holdings click here

New acrylonitrile styrene acrylate (ASA) to meet requirements of construction sector

A new acrylonitrile styrene acrylate (ASA) polymer material -Luran S BX11012, will be launched by Styrolution at NPE 2012. The material has been developed to meet the requirements of the customers in the construction sector.

For more details on New acrylonitrile styrene acrylate (ASA) to meet requirements of construction sector click here

W. R. Grace & Co. inks agreement with Dow to develop new catalysts for PP production

W. R. Grace & Co. has entered into an agreement with The Dow Chemical Company to develop new catalysts for polypropylene production. The catalysts, which use one of Dow’s non-phthalate internal donor technologies and Grace proprietary catalyst expertise, will be sold by Grace under the HYAMPP™ brand.

For more details on W. R. Grace & Co. inks agreement with Dow to develop new catalysts for PP production click here

PT Duta Firza, LG to build US$3 bln petrochemical complex near West Papua

Indonesia’s private oil and gas company PT Duta Firza has signed a heads of agreement (HoA), to team up with LG International to set up a petrochemical complex near the Tangguh gas field in West Papuaa, as per Jakarta Post.

For more details on PT Duta Firza, LG to build US$3 bln petrochemical complex near West Papua click here

New high performance polypropylene grades for injection molders from Indian Oil

Indian Oil unveiled high performance polypropylene grades -1110MAS and 2120MC, for polymer processors in the injection moulding sector. The grades have been developed at Indian Oil's state-of-the-art Product Application & Development Centre (PADC) located at Panipat.

For more details on New high performance polypropylene grades for injection molders from Indian Oil click here

ONGC sells naphtha for April/May at stable premiums when compared to average premiums for March

ONGC sold 35,000 tons of naphtha for April 14-15 loading from Mumbai to Unipec at premiums of US$42/ton to Middle East quotes on a free-on-board (FOB) basis, as per Reuters. Another cargo of 35,000 toons for April 30 to May 1 loading from Hazira was sold to Total at premiums of US$43/ton.

For more details on ONGC sells naphtha for April/May at stable premiums when compared to average premiums for March click here

Naphtha cracks in Asia dip by almost 15% from February

As supplies start increasing, naphtha cracks in Asia ended the week at US$148.25/ton, more than 15 percent lower than a month ago. India's exports for April are expected to hit a four-month high of abbout 900,000 ton, hence supplies are no longer as limited as before, although ongoing refinery maintenance in the Middle East will cushion any likely sharp price drops, as per Reuters.

For more details on Naphtha cracks in Asia dip by almost 15% from February click here

YNCC buys naphtha cargoes at premium of US$19.50/ton

Yeochun NCC Co. is reported to have bought three naphtha cargoes for delivery to Yeosu port in South Korea in May at a premium of US$19.50/ton to Japan benchmark prices, according to traders as per Blloomberg.

For more details on YNCC buys naphtha cargoes at premium of US$19.50/ton click here

Indian Rupee devalues further: India’s PVC importers impacted

Currently, Indian end-users of PVC are buying strictly on a need-to basis as the Indian Rupee gets further devalued and a battering in the foreign exchange market, as per Platts.
The Indian PVC impoort price rose US$43.

For more details on Indian Rupee devalues further: India’s PVC importers impacted click here

HPCL-Mittal’s Bhatinda refinery comes onstream

Mittal’s joint venture with state-run Hindustan Petroleum started full operation of its first refinery at Bathinda, Punjab. The refinery has a capacity of processing 9 mln tpa of crude (180,000 bpd). For HPCL, the refinery is expected to improve the availability of green fuels in the northern region.

For more details on HPCL-Mittal’s Bhatinda refinery comes onstream click here

MCO receives equipment order for core process in mega ethylene production Facility in Mexico

Mitsubishi Heavy Industries Compressor Corporation (MCO), a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI), has received an order from Braskem Idesa, S.A.P.I. of Mexico for five coompressors and three steam turbines to be used in a large-scale ethylene production facility which that company is to build locally.

For more details on MCO receives equipment order for core process in mega ethylene production Facility in Mexico click here

American PVC sustains firming trend in global markets

PVC offers out of the US continued to firm up in many regions in line with the global upward trend that has been in place since the beginning of the year, as per ChemOrbis. As for April, America’s ownn market dynamics are also supporting the firming trend for PVC in global markets.

For more details on American PVC sustains firming trend in global markets click here

Polymer demand cools down ahead of holidays in Thailand

Polymer demand in Thailand, which has been stronger than demand in other Southeast Asian countries for most of the last two months, is beginning cool down following several consecutive local price hikkes and with the approach of the Thai New Year holidays next month, as per ChemOrbis.

For more details on Polymer demand cools down ahead of holidays in Thailand click here

Temporary Suspension of Ethylene Plant operations by Showa Denko

Showa Denko K.K. will temporarily suspend operations at its ethylene plant at the Oita Complex. The two-line ethylene plant has total production capacity for approximately 695,000 tpa. At the 200,000 tpa line, the company stopped production on March 7 to conduct periodic maintenance of cracking furnaces until March 29.

For more details on Temporary Suspension of Ethylene Plant operations by Showa Denko click here

Toyo awarded ethylene plant project in Egypt

Toyo Engineering Corporation has been jointly awarded with ENPPI, an engineering company under the Egyptian Ministry of Petroleum, a contract to build a 460,000 tpa ethylene plant and a 20,000 tpa buttadiene extraction plant as part of Ethydco's petrochemical complex to be established in Alexandria, the Arab Republic of Egypt, and owned by ETHYDCO, The Egyptian Ethylene and Derivatives Company newly established company under the investment law # 8/1997 of Egypt.

For more details on Toyo awarded ethylene plant project in Egypt click here

Sinopec surpasses all previous records in FY 2011

China's leading oil, energy and petrochemical group Sinopec posted sales of RMB 2.5 tr (EUR 280 bln) in FY 2011. Its Chemicals business - mostly consisting of olefins and polyolefins - accounting for less than 20% of total revenues to the tune of about RMB 414 bln (EUR 46 bln).

For more details on Sinopec surpasses all previous records in FY 2011 click here

Haldia Petrochemicals converts debt to equity to shield from BIFR reporting

The HPL board has cleared a proposal to convert debt to the tune of Rs 128 crore into equity in at par basis (Rs 10), Now the lenders will jointly own "about 8% stake" in the company. This is an attemmpt to help the company avoid reporting to BIFR.

For more details on Haldia Petrochemicals converts debt to equity to shield from BIFR reporting click here

Ownership battle of Haldia worsens as Chatterjee Group drags Bengal govt to international court

In this week's board meeting of Haldia Petrochemicals Ltd, it was decided that West Bengal state industries and commerce minister Partho Chatterjee will replace TCG's Purnendu Chatterjee as the Chairmman of HPL.

For more details on Ownership battle of Haldia worsens as Chatterjee Group drags Bengal govt to international court click here

Umeco Process Materials in strategic marketing collaboration with Victrex Polymer Solutions for release films

Umeco Process Materials has entered a strategic marketing collaboration with Victrex Polymer Solutions to market release films made using APTIV film based on VICTREX PEEK polymer. Umeco will distributte these release films under the brand name, VAC-PAK.

For more details on Umeco Process Materials in strategic marketing collaboration with Victrex Polymer Solutions for release films click here

Resumption of ethylene production at Lukoil's Stavrolen plant delayed due to a fire

OAO Lukoil Holdings plans to delay resumption of production at the ethylene unit of its Stavrolen plant four months later than first estimated, following a fire at the petrochemical plant in December..

For more details on Resumption of ethylene production at Lukoil's Stavrolen plant delayed due to a fire click here

New process converts polyethylene into carbon fiber

Carbon fibers having unique surface geometries, from circular to hollow gear-shaped, are produced from polyethylene using a versatile fabrication method. The resulting carbon fiber exhibits propertiess that are dependent on processing conditions, rendering them highly amenable to myriad applications.

For more details on New process converts polyethylene into carbon fiber click here

Unexpected jump in US crude supplies- oil prices dip below US$107

An unexpected larger than life increase in US crude supplies pulled down oil in Asia below US4107 on Wednesday. Benchmark oil for May delivery dipped to US$106.7 on the Nymex while Brent crude for Mayy delivery dipped to US$124.

For more details on Unexpected jump in US crude supplies- oil prices dip below US$107 click here