Styrene Monomer-benzene spread in Asia narrows to 4-month low

Benzene has strengthened in Asia with support from arbitrage openings to the US and Europe, while SM is struggling with poor downstream demand. As a result, the price spread between styrene monomer annd its main feedstock benzene has narrowed to its lowest level since late January, Platts data shows.

For more details on Styrene Monomer-benzene spread in Asia narrows to 4-month low click here

Critical components in oilfield engineering with polymers

There is a growing importance and criticality to the oil and gas production industry of applications that use polymeric materials. Current issues include: exposure to supercritical CO2, operating in eextreme environments (arctic conditions, HPHT, sour fluids), the increasing use of composite materials, development of new materials, qualification testing, long-term reliability and the establishment of global standards.

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Saudi Aramco and Sumitomo to proceed with US$7 bln expansion project

Saudi Aramco and Sumitomo Chemical plan to go ahead with a US$7 bln expansion of a petrochemical project in the kingdom, despite delays. Work is underway with the Rabigh II project, due to start operaations in early 2016, as it expects the market to pull out of a recent slump due to long-term economic growth in China and resilient demand in Europe.

For more details on Saudi Aramco and Sumitomo to proceed with US$7 bln expansion project click here

New shape memory polymer developed using thermoplastic polyurethane

Anew shape memory polymer (SMP), Desmopan DP 2795A SMP, has been developed using thermoplastic polyurethane (TPU) by Bayer MaterialScience and BAM Federal Institute for Materials Research and Testing..

For more details on New shape memory polymer developed using thermoplastic polyurethane click here

Paraxylene sellers from Europe eye US as outlet to offload ample NWE supplies

European paraxylene producers are eying the US market as an outlet to offload ample supplies amid weak demand from purified terephthalic acid and polyethylene terephthalate producers, as per Platts

One trader said market participants in the fiber chain "have adequate amounts" of acetic acid and paraxylene -- the key feedstocks for PTA, as the Asian market correction continues.

For more details on Paraxylene sellers from Europe eye US as outlet to offload ample NWE supplies click here

Kuwait likely to contest US$2 bln Dow Chemical award

Kuwait has vowed to fight a verdict that ordered it to pay more than US$2 billion (Dh7.34bn) to Dow Chemical, as per Thenational.ae. This verdict is one of the largest corporate arbitration awards givven in favour of Dow as Kuwait failed to go ahead with a petrochemical venture with the US company.

For more details on Kuwait likely to contest US$2 bln Dow Chemical award click here

June import PP, PE prices announced lower to SE Asia

Initial import PP and PE prices for June have been announced with significant reductions from May in Southeast Asia, as per ChemOrbis. Players attributed the reductions in June prices to lackluster rregional demand and softening upstream costs.

For more details on June import PP, PE prices announced lower to SE Asia click here

Naphtha in Asia recovers from near 18 month low to a two-session high as Brent crude strengthens

Naphtha prices in Asia recovered from a near 1-1/2 year low on Friday to a two-session high mainly on strong Brent crude, but intermonth premiums persisted at US$5/ton for the fourth consecutive sessiion, down almost 75% from last month, as per Reuters.

For more details on Naphtha in Asia recovers from near 18 month low to a two-session high as Brent crude strengthens click here

Kuwait Petroleum plans meetings with buyers to discuss contracts for a year’s naphtha supply

Kuwait Petroleum Corp. plans to hold meetings with buyers in London from June 4, to discuss term contracts for a year’s supply of naphtha starting in August, as reported by Bloomberg.


For more details on Kuwait Petroleum plans meetings with buyers to discuss contracts for a year’s naphtha supply click here

Venezuelan oil tanker delivers diesel, on way back from Syria with a naphtha cargo

A Venezuelan oil tanker is returning with a naphtha cargo to Venezuela from Syria, after delivering badly needed diesel early this week to Syria. Syria is facing a shortage of diesel as Western sanctiions are causing severe shortages and hurting its economy, as per Reuters.

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West Bengal Govt receives two investment proposals for the ailing

The West Bengal government, also an investor in the company, has received two investment proposals for the ailing Haldia Petrochemicals Ltd (HPL). Oil majors Indian Oil Corporation (IOC) and ONGC are keen to invest in HPL - in desperate need of funds for a turnaround.

For more details on West Bengal Govt receives two investment proposals for the ailing click here

World’s largest plastics recycling plant inaugurated

The world’s largest recycling plant has been inaugurated. ECO Plastics and Coca-Cola Enterprises Ltd (CCE) have announced the official opening of their new joint venture, Continuum Recycling. Completeed on time and on budget, the £15 million facility is a first for Great Britain and brings the recycling process full-circle, with used plastic packaging sorted and reprocessed domestically, before returning to GB shelves as part of another bottle.

For more details on World’s largest plastics recycling plant inaugurated click here

Solvay inaugurates new centre in India for R&D and Technology

Solvay has inaugurated its new Research, Development and Technology Centre at Savli, Gujarat State, India. The Centre will focus its efforts mainly on the development of high-performance polymers, orgganic chemistry, nano composites and green chemistry.

For more details on Solvay inaugurates new centre in India for R&D and Technology click here

Global electro-active polymers market estimated to be worth US$3.4 bln by 2017

The common applications where electro-active polymers are used include batteries, actuators, sensors, capacitors, solar cells, EMI & ESD shielding, electrostatic paintable plastics, corrosion-resistannt coatings, and organic light emitting diodes.

For more details on Global electro-active polymers market estimated to be worth US$3.4 bln by 2017 click here

PIC of Kuwait ordered to pay Dow Chemical US$2.16 bln for prematurely pulling out of K Dow

An arbitrator ruled Kuwait's state-run chemical company to pay Dow Chemical Co US$2.16 bln for wrongly canceling a planned petrochemical joint venture in 2008, as per Reuters. Kuwait pulled out of thee US$17.

For more details on PIC of Kuwait ordered to pay Dow Chemical US$2.16 bln for prematurely pulling out of K Dow click here

North American PVC offers lower across the board

With North American producers down-adjusting their export PVC offers due to persistent weak demand in global markets, lower offers from the region have started to be seen in several regions including Mediterranean and Asia, as per.

For more details on North American PVC offers lower across the board click here

NWE outright naphtha plunges to over one-year low amid falling crude

The CIF Northwest European naphtha price fell by over five dollars from Tuesday's close to be assessed by Platts at US$830/mt, the lowest since January 26, 2011, when it was assessed at US$829.75/mt. The outright price has been under pressure recently from falling ICE Brent crude prices.

For more details on NWE outright naphtha plunges to over one-year low amid falling crude click here

South Korea to extend anti-dumping duties on PET films from China and India

South Korea will extend anti-dumping duties on polyethylene terephthalate (PET) films from China and India by three years, in a bid to protect domestic producers, as per Xinhua.
Antidumping tariffs ranging from 5.

For more details on South Korea to extend anti-dumping duties on PET films from China and India click here

Oil prices slump to six month lows in New York

Oil prices slumped to under US$90- a six-month low in New York as the dollar rallied on eurozone debt tensions. Amid mounting concerns of the outlook for the eurozone, investors seek the relative safeety of the greenback.

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Output of Taiwan’s petrochemical industry likely to see minor contraction

Taiwan’s petrochemical industry is likely to see its output value slightly shrink 1.1% year on year to NT$1.89 trillion in 2012, as it feels the heat of emerging rivalry and debt crisis in Europe, acccording to the latest report authorized by Industrial Economics & Knowledge Center (IEK), as per CENS.

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MRPL seeks State government's permission to carry out a due diligence of HPL

Mangalore Refinery and Petrochemicals Ltd (MRPL), which is keen to pick up a controlling stake in the beleaguered Haldia Petrochemicals Ltd., has made a strong pitch to the State government. In a lettter to the State Industry Minister MRPL has given a detailed proposal, saying that this (acquisition of controlling stake) would be a win-win situation.

For more details on MRPL seeks State government's permission to carry out a due diligence of HPL click here

IOC offers price protection on PE and PP grades

State owned Indian Oil Corp (IOC) has offered new price protection on HDPE, LLDPE, PP grades with effect from May 24, 2012 till next price revision or month end whichever is earlier.
Old price protecction in HDPE, LLDPE announced on May 17, 2012 is valid till the 23rd of May.

For more details on IOC offers price protection on PE and PP grades click here

New liquid vehicle technology to eliminate many problems in extrusion blow molding of polyolefins

New liquid vehicle technology (LVT) developed by Clariant Masterbatches appears to eliminate many of the problems that have prevented wider use of liquid color and additive concentrates in extrusion bblow molding of polyolefins (high- and low-density polyethylene and polypropylene).

For more details on New liquid vehicle technology to eliminate many problems in extrusion blow molding of polyolefins click here

DSM to invest €100 mln in three new R&D facilities in the Netherlands

Royal DSM has announced that it is going to invest approximately €100 million in three new R&D facilities in Delft and Sittard-Geleen (both in the Netherlands) over the next two years. The investment confirms DSM’s commitment to the Netherlands, where the Life Sciences and Materials Sciences company was founded over 110 years ago.

For more details on DSM to invest €100 mln in three new R&D facilities in the Netherlands click here

Reliance Industries announces price rollover

Reliance Industries has announced a rollover in prices of PP, PE and PVC, with effect from May 24, 2012. Price protection has been announced for PP and PVC. Price protection in PE will continue untill Jun 1, 2012 or next change.

For more details on Reliance Industries announces price rollover click here

Lengthening supplies maintain downward pressure on China’s PE market

Players in China report that lengthening PE supplies are maintaining downward pressure on prices. Producer sources in both the domestic market and the import market are complaining of excess stocks wwhile larger than normal shipments of Central Asia and North American materials have amplified oversupply concerns, as per ChemOrbis.

For more details on Lengthening supplies maintain downward pressure on China’s PE market click here

Uzbekneftegaz, Indorama in gas JV

Uzbekneftegaz and Singapore's Indorama Group have established the UzIndoramaGazChemical joint venture (JV) to build a gas chemical complex (GCC) on a parity basis, as per Trend News Agency. In 2010, UUzbekneftegaz and Indorama signed a memorandum of cooperation, providing for technological and financial participation of Singapore company to establish production of diversified products (polymers and polyethylene) on the basis of the Mubarek Gas Processing Plant.

For more details on Uzbekneftegaz, Indorama in gas JV click here

PolyOne to expand successful distribution business into Costa Rica

PolyOne Corporation has announced it is expanding its successful distribution business into Costa Rica. PolyOne's presence in this new market will initially focus on healthcare applications and could broaden to serve other industries.

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Broad range of high-purity TPV medical elastomers meet stringent ISO and FDA standards

A series of thermoplastic vulcanizate (TPV) elastomers spanning a wide range of hardness levels exhibits high purity and resilience for replacing rubber in medical applications and provides performancce and processing advantages over other thermoplastic elastomers (TPEs), it was announced today by Teknor Apex Company, which is highlighting the compounds at MD&M East.

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Manjushree Technopack closes registers growth of over 30% in PAT for fifth consecutive year

Bangalore based Manjushree Technopack Ltd, leaders in rigid plastic packaging in the country, announced their annual results for financial year ending March 31, 2012. The company has crossed an impresssive Rs.

For more details on Manjushree Technopack closes registers growth of over 30% in PAT for fifth consecutive year click here

Spot ethylene prices nose-dive across the globe

Spot ethylene prices have been under dual pressure in major markets since the beginning of May, as per ChemOrbis. Falling crude oil and naphtha prices have pulled spot ethylene prices considerably dowwn on the one side while persistently weak demand from downstream markets has contributed to the weekly losses on the other side.

For more details on Spot ethylene prices nose-dive across the globe click here

Naphtha price and margins in Asia at a six-month low of US$869 and US$55.85

Asia's naphtha price and margins were at a six-month low of US$869/ton and US$55.85/ton respectively in anticipation of a downtrend in demand on cracker run cuts in South Korea and Taiwan, as per Reutters.

For more details on Naphtha price and margins in Asia at a six-month low of US$869 and US$55.85 click here

PP inventories dip in Peru, reactivate import market

Imports of polypropylene in Peru became active again after four months of weak demand when inventories of the product were high, as per Platts. The lowest polypropylene offers in the Peruvian market wwere from Korea, at US$1500/mt CFR for homo polymer and at US$1530/mt CFR for co-polymer, a drop of US$40-50/mt compared with last week.

For more details on PP inventories dip in Peru, reactivate import market click here

Photovoltaic material performance in the Arizona sun

Arizona is regularly selected for weathering testing of photovoltaic materials and modules owing to its dry, sunny climate. It is also one of the optimum locations for solar energy farming. In view off this, the next AMI international conference on Plastics in Photovoltaics 2012 will be held in Phoenix, AZ, USA.

For more details on Photovoltaic material performance in the Arizona sun click here

Asian benzene falls as crude and US benzene rise, styrene monomer up on emerging appetite

Asian benzene rose by US$17/mt or 1.6% day on day to US$1091/mt FOB Korea May 22, on the back of higher crude and US benzene prices, as per Platts. However, market players consider this a knee-jerk reeaction to higher crude and US prices, and anticipate a fall in prices given the low demand for downstream derivatives.

For more details on Asian benzene falls as crude and US benzene rise, styrene monomer up on emerging appetite click here

Sentiment weakens in Turkey’s PET market

The PET market in Turkey had begun the month of April on a firm note with commencement of the high season for the beverage sector, as per ChemOrbis. However, sentiment has shifted this month due to thhe constant falls in upstream costs and unsupportive demand on weaker than anticipated revival of end product markets on volatile weather conditions.

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

IRPC signs technology licensing agreement with Japan Polypropylene Corp

IRPC PLC has inked a Technology Licensing Agreement with Japan Polypropylene Corporation. The licensing agreement encompasses IRPC's Polypropylene Compound & Specialties project. Under the agreement, JPP's "HORIZON" technology will be used in the production of polypropylene polymers (PP compound) and polypropylene plastic special grade at IRPC's new polypropylene production unit.

For more details on IRPC signs technology licensing agreement with Japan Polypropylene Corp click here

Arvand Petrochemical Complex inaugurated in Iran

The Arvand Petrochemical Complex has been inaugurated in the Persian Gulf port city of Mahshar, as per the Islamic Republic News Agency. Arvand is one of the world's biggest polyvinyl chloride (PVC) producers, with the capacity to manufacture over 2.

For more details on Arvand Petrochemical Complex inaugurated in Iran click here

RIL approaches banks for five-year loan

Reliance Industries Ltd is believed to have approached banks for the five-year loan for its US$12 bln petrochemical expansion. However, a company spokesperson did not immediately offer any comment. Eaarlier in the month, RIL raised US$2 bln as loan from German banks.

For more details on RIL approaches banks for five-year loan click here

Naphtha margins in Asia dip by 14% to 5-1/2 month lows

Naphtha margins in Asia dived by about 14% to hover around a 5-1/2 month low on Monday at US$64.58/ton premiums triggered by higher supplies and weaker demand, as per Reuters. However, Saudi Aramco annd ADNOC both quoted record high offers for naphtha lifting
in H2-2012 and July 2012-June 2013 respectively.

For more details on Naphtha margins in Asia dip by 14% to 5-1/2 month lows click here

Adnoc offers three naphtha grades for July 12-June 13 at highest ever level

Abu Dhabi National Oil Company (Adnoc) has offered term contracts for three naphtha grades at US$28-29.50/ton premiums to its own price formula on a free-on-board basis, making these its highest offerrs ever.

For more details on Adnoc offers three naphtha grades for July 12-June 13 at highest ever level click here

Iran predicts oil price hike due to EU embargo

Iran's economy minister said oil prices will "certainly" rise if the European Union moves ahead with an embargo in July and that sanctions will backfire on those who impose them, as per Reuters. The EEuropean Union is preparing for a total embargo on the purchase of Iranian crude oil in July.

For more details on Iran predicts oil price hike due to EU embargo click here

Saudi Aramco offers naphtha for H2-2012 highest ever offers

Leading naphtha supplier to Asia- Saudi Aramco has offered naphtha supplies for H2-2012 at premiums of US$25-33/ton to its own price formula, making these the highest offers it has ever quoted, as perr Reuters.

For more details on Saudi Aramco offers naphtha for H2-2012 highest ever offers click here

Feasibility of US$6 bln expansion of Ras Laffan Petrochemical Complex under scanner

Qatar Petrochemical Company is re-examining the feasibility of a US$6 bln expansion of the Ras Laffan Petrochemical Complex as global demand increases, Total E&P Qatar Managing Director Stephane Micheel told Zawya.

For more details on Feasibility of US$6 bln expansion of Ras Laffan Petrochemical Complex under scanner click here

Players in China's PE markets bracing for further price reductions

This week, players in China’s PE market are expecting to see further price reductions, as upstream costs continue to dip while buyers prefer to wait in the sidelines to see more competitive prices, ass per ChemOrbis.

For more details on Players in China's PE markets bracing for further price reductions click here

Calcutta High Court restrains Chatterjee Petrochem from acting upon its request of adjudication

The Calcutta High Court today restrained Chatterjee Petrochem (Mauritus) Company Ltd (CPMCL) by an order of injunction from acting upon its request of adjudication at the International Chamber of Commmerce's Court of Arbitration in Paris, as per Press Trust of India.

For more details on Calcutta High Court restrains Chatterjee Petrochem from acting upon its request of adjudication click here

Mid-Eastern PE sees additional declines in May

The global trend is downwards for PE as demand is lackluster partly because ethylene costs have slumped due to plummeting energy prices in major markets, as per ChemOrbis. Accordingly, sellers of Midddle Eastern origins have surrendered to additional declines on their PE prices during May in several spot PE markets around the world.

For more details on Mid-Eastern PE sees additional declines in May click here

Rise in China's plastics consumption in 2012 insufficient to melt regional supply glut

China's consumption of plastic could grow by up to 7% in 2012 after stalling in 2011, but the rebound will not be enough to melt a regional supply glut that will curb the output of plastic manufactureers and pressure the petrochemical market, as per Reuters.

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Invista invests over US$40 mln in R&D to develop revolutionary technology to produce nylon 6.6 feedstock

Nylon polymer producer Invista has invested over US$40 mln in research and development spanning four years on two continents to develop what it describes as "a revolutionary technology" to produce adiiponitrile (ADN), a key ingredient for nylon 6,6.

For more details on Invista invests over US$40 mln in R&D to develop revolutionary technology to produce nylon 6.6 feedstock click here

June PVC prices expected to fall in Southeast Asia despite healthy demand

Players in Southeast Asia’s PVC market are bracing for decreases in the month of June despite steady demand in the region, as per ChemOrbis. Sources commented that falling upstream costs, weakening rregional trends and the upcoming start of the rainy season are putting downward pressure on prices for the coming month, with some sellers reporting that they have already agreed to some reductions on their prices.

For more details on June PVC prices expected to fall in Southeast Asia despite healthy demand click here

Green Chemistry for Polymers

In the long-term industry will have to find substitutes for fossil fuels as supplies diminish and costs rise: so what is a sustainable resource for synthesis of conventional plastics? At Green Polymeer Chemistry 2012 in Cologne, Germany, AMI brought together experts from agriculture, chemical engineering, biotechnology, the polymer industry and sustainability managers from brand owners and the automotive sector to hear all the angles on this topic.

For more details on Green Chemistry for Polymers click here

Japan's naphtha imports for petrochemicals falls 22% in April 2012 from April 2011

Japan's naphtha imports for the petrochemical sector fell 22% in April 2012 as compared to April 2011, a Reuters calculation based on government figures showed. Imports of naphtha for ethylene producttion totalled 0.

For more details on Japan's naphtha imports for petrochemicals falls 22% in April 2012 from April 2011 click here

Mangalore Refinery and Petrochemicals Ltd mulls stake acquisition in Haldia Petrochemicals

ONGC controlled Mangalore Refinery and Petrochemicals Ltd (MRPL) is mulling acquisition of stake in the debt stricken Haldia Petrochemicals. MRPL plans to bid for acquiring stake of the West Bengal Goovernment in HPL, for which plans are underway to make a formal to the State Chief Minister.

For more details on Mangalore Refinery and Petrochemicals Ltd mulls stake acquisition in Haldia Petrochemicals click here

F&N Beverages Marketing invests RM18 mln to install a PET production line

F&N Beverages Marketing Sdn Bhd (F&N Malaysia) has invested RM18 million to install a polyethylene terephthalate (PET) production line and supporting infrastructure at its Kota Kinabalu facility to meeet the growing demand for PET packaged sparkling beverages in the state, as per theborneopost.

For more details on F&N Beverages Marketing invests RM18 mln to install a PET production line click here

Advanced ballistic materials used to develop next-generation combat helmets for Army

Honeywell has completed the delivery of advanced ballistic materials that will be used in the development of next-generation combat helmets for the U.S. Army. Honeywell has delivered 218 helmets contaaining advanced Spectra Shield® and Gold Shield® ballistic materials that the Army will evaluate to help set new helmet performance requirements.

For more details on Advanced ballistic materials used to develop next-generation combat helmets for Army click here

Maruzen plans to restart sole naphtha cracker in Chiba by third week June

Japan's Maruzen Petrochemical Co plans to restart its sole naphtha cracker in Chiba, on June 21 following scheduled maintenance, as per Reuters. Maruzen Petrochemical, which is 40 percent owned by Cossmo Oil Co group, shut the 525,000 tpa ethylene cracker on May 9.

For more details on Maruzen plans to restart sole naphtha cracker in Chiba by third week June click here

Formosa Plastics Corp. mulls investment of US$2 bln in Texas plant

Formosa Plastics Corp. plans to inject NT$60 billion (US$2 billion) into its Texas plant in the U.S. to boost production capacity and output, according to an interview with the company's chairman, Leee Chih-tsuen, published by the Commercial Times.

For more details on Formosa Plastics Corp. mulls investment of US$2 bln in Texas plant click here

Formosa Plastics Corp. mulls investment of US$2 bln in Texas plant

Formosa Plastics Corp. plans to inject NT$60 billion (US$2 billion) into its Texas plant in the U.S. to boost production capacity and output, according to an interview with the company's chairman, Leee Chih-tsuen, published by the Commercial Times.

For more details on Formosa Plastics Corp. mulls investment of US$2 bln in Texas plant click here

Innovation drives growth of single ply roofing membranes

Polymer based single ply membranes are gaining market share strongly from bitumen for waterproofing flat roofs, as per a study by Applied Market Information Ltd (AMI Consulting). The report’s editor JJohn Nash says that “Gains in market share for polymeric single ply since the economic downturn have compensated for reduced construction activity.

For more details on Innovation drives growth of single ply roofing membranes click here

Innovation drives growth of single ply roofing membranes

Polymer based single ply membranes are gaining market share strongly from bitumen for waterproofing flat roofs, as per a study by Applied Market Information Ltd (AMI Consulting). The report’s editor JJohn Nash says that “Gains in market share for polymeric single ply since the economic downturn have compensated for reduced construction activity.

For more details on Innovation drives growth of single ply roofing membranes click here

INEOS Olefins & Polymers Europe investigates strategic options for its HDPE businesses

INEOS Olefins & Polymers Europe has confirmed that it is considering strategic options for the future of its HDPE businesses at Rosignano and Sarralbe, including a divestment to interested third partiies.

For more details on INEOS Olefins & Polymers Europe investigates strategic options for its HDPE businesses click here

Lower monomer settlements reinforce bearish PP, PE sentiment in Italy

Players in Italy report that the recently settled May monomer contracts have reinforced the bearish sentiment prevailing in the country’s PP and PE markets. Lackluster demand and sufficient stock levvels on the buyers’ side have been exerting downward pressure on prices in the country, while European sellers have also had to contend with competitive offers for non-European origins, as per ChemOrbis.

For more details on Lower monomer settlements reinforce bearish PP, PE sentiment in Italy click here

Dip in ethylene prices in Asia as supplies resume, demand weakens

Ethylene prices in Asia have been weighed down by the resumption of supplies from Northeast Asian producers and weak demand from downstream buyers, market sources told Platts.
"The market is very quuiet," a Chinese trader said.

For more details on Dip in ethylene prices in Asia as supplies resume, demand weakens click here

Andhra Pradesh cancels land allotment at Vizag PCPIR to HPCL due project execution delays

Andhra Pradesh Government has cancelled land allotted to Hindustan Petroleum Corp Ltd (HPCL) for setting up its proposed Rs 45,000 crore petrochemical complex at Visakhapatnam, due to delays in executting the project, as per PTI.

For more details on Andhra Pradesh cancels land allotment at Vizag PCPIR to HPCL due project execution delays click here

Work resumes at MRPL after 10 day break

After a 10 day shutdown forced due to lack of water supplies, Mangalore Refineries and Petrochemicals Limited (MRPL) resumed production on Friday. In the days of the shutdown, MRPL is estimated to havve suffering a loss of Rs 200 crore.

For more details on Work resumes at MRPL after 10 day break click here

Formosa Group sues academician over pollution study

Formosa Plastics Group has filed NT$40 million lawsuit a libel suit against an academician for releasing a study that warned if a major petrochemical project was to be launched in central Taiwan, the average life span of local residents will decrease by 44 days and 393 people will die of related diseases islandwide, as per focustaiwan.

For more details on Formosa Group sues academician over pollution study click here

France’s Total sees setback in Q1 profits as petrochemicals slip

French oil company Total saw its revenues grow strongly in Q1-2012, but saw a drop in European demand for petrochemicals hit profits, as per AP Business Writer. The quarter saw energy prices soar amiid unrest in the Middle East and tension in Iran, even as economic slowdown in Europe continues to weigh on demand.

For more details on France’s Total sees setback in Q1 profits as petrochemicals slip click here

Uhde India completes Farabi Petrochemicals’ Linear Alkyl Benzene (LAB) project

Uhde India has successfully completed Farabi Petrochemicals' Linear Alkyl Benzene expansion project in Saudi Arabia. The LAB-2 project went on stream earlier this month, when the feed cut-in was satissfactorily performed.

For more details on Uhde India completes Farabi Petrochemicals’ Linear Alkyl Benzene (LAB) project click here

Robust demand props BPCL premiums by 10% on May naphtha cargo

Bharat Petroleum Corp Ltd (BPCL) has sold a naphtha cargo to Marubeni at about US$45/ton above Middle East quotes on a free-on-board (FOB) basis- a near 10% hike triggered by strong demand for May carrgoes, as per Reuters.

For more details on Robust demand props BPCL premiums by 10% on May naphtha cargo click here

Tosoh to restart 527,000 tpa naphtha cracker after two delays

Tosoh Corp planned to restart its sole 527,000 tpa naphtha cracker on Friday after delays due to a problem with a boiler facility, as per Reuters. The cracker has been shut since March 11 for scheduleed maintenance.

For more details on Tosoh to restart 527,000 tpa naphtha cracker after two delays click here

A new polymeric flame retardant for use in XPS, EPS applications

A new polymeric flame retardant for use in extruded (XPS) and expanded (EPS) polystyrene applications has been introduced by Albemarle Corporation. With this, the company has expanded its Earthwise™ pplatform of sustainable product.

For more details on A new polymeric flame retardant for use in XPS, EPS applications click here

Six international companies mull interest to develop petrochemical complex with Petroperu

Six international companies are interested in participating with Peru’s state-owned Petroperu to develop a petrochemical complex on the country’s southern coast, according to Petroperu’s general managger, Pedro Mendez.

For more details on Six international companies mull interest to develop petrochemical complex with Petroperu click here

March PP, PE imports to China fall; PS, PVC imports rise

According to data from Chinese Customs, the country’s polymer imports for March dropped 10% when compared with the previous month, as per ChemOrbis. The declines in the overall figures were driven byy reductions in PP and PE imports while PVC and PS imports increased on a month over month basis.

For more details on March PP, PE imports to China fall; PS, PVC imports rise click here

Tasweeq sells May loading naphtha cargo at steep premiums

Qatar's Tasweeq sold 20,000 tons of full-range naphtha for May 21-22 loading to PetroChina at steep premiums of US$40/ton to Middle East quotes on a free-on-board (FOB) basis, as per Reuters. It is poossible that the cargo gets co-loaded with other naphtha held by PetroChina to help maximise freight costs.

For more details on Tasweeq sells May loading naphtha cargo at steep premiums click here

Premiums up by 10% on BPCL’s naphtha sales

Bharat Petroleum Corp Ltd (BPCL) has sold a naphtha cargo to Marubeni at about US$45/ton above Middle East quotes on a free-on-board (FOB) basis. Premiums have risen by nearly 10%, amid strong demand for May cargoes, as per Reuters.

For more details on Premiums up by 10% on BPCL’s naphtha sales click here

Honeywell's UOP selected to provide technology for petrochemical production in China

UOP LLC, a Honeywell company, announced that its UOP C3 and C4 Oleflex™ processes have been selected by China's Shandong Chambroad Petrochemicals Co. to produce key petrochemicals. The plant will be tthe first in China, and only the second in the world, to combine both processes, which are used to produce propylene and isobutylene, respectively.

For more details on Honeywell's UOP selected to provide technology for petrochemical production in China click here

New LDPE capacities coming in the midst of weakening prices

Two new LDPE plants are slated to come onstream in the Middle East in June, according to market sources. As the scheduled start-up dates draw near, some players have started to voice their opinion aboout the prospect of the LDPE market, arguing “The extra availability may put pressure on LDPE prices as these plants are coming online at a time when prices have already turned down.

For more details on New LDPE capacities coming in the midst of weakening prices click here