Jacobs receives FEED contract from Saudi Kayan Petrochemical Company

Jacobs Engineering Group Inc. was awarded a design contract from Saudi Kayan Petrochemical Company, an affiliate of Saudi Basic Industries Corporation (SABIC), to develop a process design package (PDPP) and front end engineering design (FEED) package for the build of an ultra-high-molecular-weight polyethylene (UHMWPE) plant in the Industrial City of Jubail in the Kingdom of Saudi Arabia.

For more details on Jacobs receives FEED contract from Saudi Kayan Petrochemical Company click here

India’s ONGC sells July naphtha at 30% higher premium

India's Oil and Natural Gas Corp Ltd (ONGC) has sold a 35,000 ton July naphtha cargo to Gunvor at about US$19.50/ton above Middle East quotes on a free-on-board (FOB) basis, for July 14-15 loading froom Hazira port, up about 39% compared to a sale for an end June cargo, as per Reuters.

For more details on India’s ONGC sells July naphtha at 30% higher premium click here

Cost-effective alternatives charger cable for electric vehicles

Manufacturers of charger cable for electric vehicles (EVs) now have more cost-effective alternatives to other elastomers in both insulation and jacketing with two Flexalloy® PVC elastomer compounds frrom Teknor Apex Company.

For more details on Cost-effective alternatives charger cable for electric vehicles click here

China’s cumulative imports through May remain under 2009

The strain is beginning to show on China’s plastics imports amid an admitted slowdown in economic growth. Cumulative imports through May 2012 reached a figure of 6.255 mln tons, as per ChemOrbis, bellow cumulative imports as of May 2011, 2010 and 2009.

For more details on China’s cumulative imports through May remain under 2009 click here

GS Engineering & Construction and Saipem awarded contract for expansion of Rabigh II

South Korea’s GS Engineering & Construction and Italy's Saipem have been awarded deals to expand the Rabigh II petrochemical complex in Saudi Arabia, a JV between Saudi Aramco and Japan's Sumitomo Cheemical.

For more details on GS Engineering & Construction and Saipem awarded contract for expansion of Rabigh II click here

Italian PP players wait for further price cuts in July

Just as suppliers to China are attempting to put the brakes on falling PP prices, Italian players report they still expect to see important price reductions in July, as per ChemOrbis. PP buyers in Itaaly said they were holding off purchasing as much as possible during this week because they are confident of seeing lower prices next month.

For more details on Italian PP players wait for further price cuts in July click here

Oil prices plunge amid fresh concerns on the Eurozone debt crisis

Oil prices plunged on Monday as eurozone debt concerns offset production stoppages in the Gulf of Mexico and Norway, as per AFP. New York's main contract, light sweet crude for delivery in August, sllid by over US$1 to US$78.

For more details on Oil prices plunge amid fresh concerns on the Eurozone debt crisis click here

Jacobs awarded contract by Saudi Kayan for UHMWPE plant

Jacobs Engineering Group Inc. has been awarded a design contract from Saudi Kayan Petrochemical Company, an affiliate of Saudi Basic Industries Corporation (SABIC), to develop a process design packagee (PDP) and front end engineering design (FEED) package for the build of an ultra-high-molecular-weight polyethylene (UHMWPE) plant in the Industrial City of Jubail in the Kingdom of Saudi Arabia.

For more details on Jacobs awarded contract by Saudi Kayan for UHMWPE plant click here

Technip awarded two FEED contracts by Sibur subsidiary for a petrochemical complex in Russia

Technip has been awarded by ZapSibNeftekhim LLC (an affiliate of JSC Sibur Holding) two front end engineering and design (FEED) contracts for plants located in Tobolsk in the Tyumen Region of Russia..

For more details on Technip awarded two FEED contracts by Sibur subsidiary for a petrochemical complex in Russia click here

Polyurethane demand to grow as energy conservation gains priority

The global market value of polyurethane will rise in the coming years, with thermal insulation potentially becoming a key material application, predicts a new report by business analysts GBI Research..

For more details on Polyurethane demand to grow as energy conservation gains priority click here

Formosa Chemicals & Fiber Corp.'s No. 3 SM plant restarts, operating at 70%

Taiwan's Formosa Chemicals & Fiber Corp.'s No. 3 SM plant in Mailiao is running at 70% of its 600,000 tpa capacity after restarting over the weekend, as per Platts. Currently, the producer will not bee able to increase runs due to insufficient supplies of feedstock ethylene.

For more details on Formosa Chemicals & Fiber Corp.'s No. 3 SM plant restarts, operating at 70% click here

Aromatics prices on the rise in Asia

Amid firmer prompt US benzene prices and crude oil , benzene in Asia surged by US$27/mt or 2.7% day on day to US$1038.50/mt FOB Korea June 26. In the US, benzene climbed to US$1291/mt FOB USG, with soources saying that traders were caught short in the market, as per Platts.

For more details on Aromatics prices on the rise in Asia click here

Asia’s naphtha market gains strength

Asia's naphtha market strengthened on Tuesday, with the prompt July/August intermonth swaps value climbing to its highest in more than three weeks on expectations of lower Indian and European exports,, as per Reuters.

For more details on Asia’s naphtha market gains strength click here

Sibur likely to decide on IPO, strategic partner by next summer

Russia's biggest petrochemical holding, Sibur, is likely to decide on a possible initial public offering (IPO) and/or attracting a strategic partner by next summer, as per Platts. Current market situaation is not favorable for an IPO.

For more details on Sibur likely to decide on IPO, strategic partner by next summer click here

PolyOne plans to open new facility in South Africa to supply liquid colorants, additives, dosing equipment

In a bid to serve customers throughout Africa, PolyOne Corporation has announced plans to open a new facility in the Montague Gardens industrial precinct in Cape Town, South Africa.

Leveraging neewly acquired ColorMatrix technology, PolyOne will initially supply liquid colorants, additives and dosing equipment, which are used by customers who manufacture products such as PET containers for the beverage and personal care markets.

For more details on PolyOne plans to open new facility in South Africa to supply liquid colorants, additives, dosing equipment click here

West Bengal government to mull Indian Oil Corp request for a berth on HPL board

The government of West Bengal will examine a request by the Indian Oil Corporation to provide a berth to it on Haldia Petrochemicals board. Further, IOC had been urged by the HPL management to increasse the credit limit for naptha to HPL from previous levels of Rs 150 crore to Rs 300 crore based on requirement for the product.

For more details on West Bengal government to mull Indian Oil Corp request for a berth on HPL board click here

Asian ethylene, propylene steady on supply concerns

Despite lower energy prices for most of last week, spot ethylene and propylene prices in Asia followed a steady to slightly firmer path following relentless decreases earlier in June, as per ChemOrbiss.

For more details on Asian ethylene, propylene steady on supply concerns click here

Naphtha rebounds from 21 month lows in Asia

Naphtha prices in Asia rebounded from a near 21 month low to reach a three-session high on Monday while margins rose for the third session to a 5 session high of US$28.35/ton premium, as per Reuters. Open-spec naphtha price for front-month H1-August was at US$706.

For more details on Naphtha rebounds from 21 month lows in Asia click here

SABIC and ExxonMobil plan to specialty elastomers project at Al-Jubail

Saudi Basic Industries Corporation (SABIC) and affiliates of ExxonMobil announced they will construct a world-scale specialty elastomers facility at the Al-Jubail Petrochemical Company (Kemya) manufaccturing joint venture.

For more details on SABIC and ExxonMobil plan to specialty elastomers project at Al-Jubail click here

Oman and Abu Dhabi join hands to develop refinery and petrochemicals complex in Duqm

Oman Oil Company (OOC) and International Petroleum Investment Company (IPIC), owned by the Government of Abu Dhabi have formed a joint venture company to own and manage the development of a refinery aand petrochemicals complex planned in Duqm.

For more details on Oman and Abu Dhabi join hands to develop refinery and petrochemicals complex in Duqm click here

Honam agrees to pay higher price for July 2012-June 2013 term naphtha

Honam Petrochemical has agreed to pay a higher price for naphtha supplies arriving in a 12-month period starting July 2012 versus cargoes being delivered in January-December 2012, as per Reuters. Honaam will pay around a discount of 50 cents/ton to Japan quotes on a cost-and-freight (C&F) basis for naphtha arriving at Yeosu and a premium of 50 cents/ton for cargoes arriving in Daesan from July 2012 to June 2013.

For more details on Honam agrees to pay higher price for July 2012-June 2013 term naphtha click here

Saudi Aramco, Sumitomo to sign multi-billion dollar contracts to expand Rabigh II

Saudi Arabia’s state oil giant Saudi Aramco and Japan's Sumitomo Chemical are close to signing multi-billion-dollar contracts to expand their petrochemical complex in Saudi Arabia, as per Reuters. Thee two partners have taken longer than expected to pick contractors for the Rabigh II petrochemical expansion project, which is expected to cost around US$7 billion.

For more details on Saudi Aramco, Sumitomo to sign multi-billion dollar contracts to expand Rabigh II click here

July domestic PVC prices expected to move south in SE Asia

Players in Southeast Asia report that domestic PVC prices within the region are set to move lower for July in line with softening July import prices, strong resistance from buyers and declining upstreeam costs, as per ChemOrbis.

For more details on July domestic PVC prices expected to move south in SE Asia click here

Enterprise to build 750,000 tpa polymer-grade propylene plant in Texas

Enterprise Products will build a world-scale propane dehydrogenation (PDH) unit on the Texas Gulf coast, with the capacity to consume up to 35,000 bpd of propane to produce up to 1.65 bln lb/year (7500,000 tpa or 25,000 bpd) of polymer-grade propylene (PGP).

For more details on Enterprise to build 750,000 tpa polymer-grade propylene plant in Texas click here

Petrovietnam group to sell shares in subsidiary Binh Son Refining and Petrochemical Co to public

Vietnam’s oil and gas company- Petrovietnam group will sell shares in its subsidiary, Binh Son Refining and Petrochemical Co which is the operator of the country's only oil refinery, to the public by end of 2012.

For more details on Petrovietnam group to sell shares in subsidiary Binh Son Refining and Petrochemical Co to public click here

Asian naphtha ends previous week below US$700 levels

Naphtha spot prices in Asia fell to a 21month low on Friday to below US$700/ton (€560/ton), tracking the losses of global energy values and perpetually bearish sentiment, as per ICIS. The bearish senttiment was partly a result of the outage at Formosa Petrochemical Corp (FPCC)’s Mailiao complex and also abundant spot offers from the Middle East and Indian refiners, they added.

For more details on Asian naphtha ends previous week below US$700 levels click here

Brent crude plunges below US$90 – levels not seen since December 2010

Brent crude oil ended the previous week below US$90 – levels not seen since December 2010. The market has been shrouded by weak demand expectations for crude triggered by the eurozone debt crisis and figures indicating weak growth in USA and China.

For more details on Brent crude plunges below US$90 – levels not seen since December 2010 click here

May naphtha imports for petrochemicals in Japan falls 10% yoy

Japan's naphtha imports for the petrochemical sector fell 10% in May 2012 from May 2011, as per Reuters. Imports of naphtha for ethylene production totalled 1.01 mln tons last month, down from 1.12 mlln tons in the same month a year earlier, the Ministry of Economy, Trade and Industry said.

For more details on May naphtha imports for petrochemicals in Japan falls 10% yoy click here

Benzene in Asia up 1.5% week on week amid strong demand for prompt cargoes, despite falling crude

Asian benzene rose by US$15/mt or 1.5% week on week to US$1015.50/mt FOB Korea June 22, amid strong demand for prompt cargoes, despite falling crude prices. Day on day, the marker was down US$7.50/mt,, or 0.

For more details on Benzene in Asia up 1.5% week on week amid strong demand for prompt cargoes, despite falling crude click here

All grades of RIL Polypropylene unchanged, RIL offers price protection

Price of all grades of RIL Polypropylene remain unchanged. RIL has offered price protection with effect from 21st June 2012 till 1st July 2012 or the next price change whichever is early. Reliance hass reduced prices of HDPE Raffia and monofilament by Re 1.

For more details on All grades of RIL Polypropylene unchanged, RIL offers price protection click here

Naphtha prices at near 21 month lows as Brent falls

Naphtha price in Asia continued to fall to dip to almost 21-month lows of US$706.50/ton due to weaker Brent crude, as per Reuters. However, naphtha margins jumped nearly 11% to reach a two-session higgh of US$20.

For more details on Naphtha prices at near 21 month lows as Brent falls click here

Power outage at Formosa’s Mailiao complex estimated to result in losses of NT$9 bln

Partial production suspension at some units of Formosa’s Yunlin petrochemical complex due to a power failure could impact the combined sales of its four core companies. The loss is estimated at NT$9 bbln (US$301 mln), as per Taipie Times.

For more details on Power outage at Formosa’s Mailiao complex estimated to result in losses of NT$9 bln click here

Maruzen resumes operations At Chiba ethylene plant

Maruzen Petrochemical Co. resumes operations at its 525,000 metric tpa ethylene plant in Chiba after scheduled maintenance that began on May 9, as per Bloomberg.


For more details on Maruzen resumes operations At Chiba ethylene plant click here

Aither Chemical, Bayer signs memorandum to measure interest in catalytic ethane cracker

Aither Chemicals LLC announced signing of a memorandum of understanding with Bayer MaterialScience to launch an "Open Season" for ethylene from a potential catalytic ethane cracker in the Kanawha Vallley.

For more details on Aither Chemical, Bayer signs memorandum to measure interest in catalytic ethane cracker click here

Linde receives engineering contract for ethylene plant from SIBUR in Russia

Technology company The Linde Group has received an engineering contract for the licensing and front end engineering design (FEED) of one of the world's largest ethylene plants in Tobolsk, Western Sibeeria.

For more details on Linde receives engineering contract for ethylene plant from SIBUR in Russia click here

Initial July PE prices announced lower to China, SE Asia

Players in China and Southeast Asian report that import PE prices for July are being announced with decreases, as per ChemOrbis. Sufficient stock levels, softer upstream costs and disappointing demandd were cited among the main reasons for the decline in PE prices.

For more details on Initial July PE prices announced lower to China, SE Asia click here

Crude stockpiles rise in Asia, oil prices dip

Oil prices fell in Asia on rising US crude stockpiles while traders amid market disappointment over muted stimulus measures from the Federal Reserve and downgrade to the US outlook. New York's main ccontract, light sweet crude for August delivery, fell by over a dollar to US$80.

For more details on Crude stockpiles rise in Asia, oil prices dip click here

Enterprise Products plans to build propane dehydrogenation units on Texas Gulf Coast

Enterprise Products Partners L.P. announced that it plans to build one of the world’s largest propane dehydrogenation (PDH) units on the Texas Gulf Coast, with the capacity to consume up to 35,000 barrrels per day (BPD) of propane to produce up to 1.

For more details on Enterprise Products plans to build propane dehydrogenation units on Texas Gulf Coast click here

Formosa resumes production at some units of petrochemical complex in Yunlin

Taiwan’s Formosa Plastics Group (FPG) has resumed production at 54 out of the complex’s 66 units at its petrochemical complex in Yunlin County, shut adhoc by a power failure mid week. An investigationn pinpointed the cause to be malfunctions of the double busbar circuit system at the petrochemical complex’s public utility area.

For more details on Formosa resumes production at some units of petrochemical complex in Yunlin click here

Chevron Phillips breaks ground for world’s largest on-purpose 1-hexene plant at Cedar Bayou Complex

Officials with Chevron Phillips broke ground for the world’s largest on-purpose 1-hexene plant capable of producing up to 250,000 metric tpa at the company’s Cedar Bayou Chemical Complex in Baytown, ppart of a US$5 bln “US Gulf Coast Petrochemicals Project” expansion by the company.

For more details on Chevron Phillips breaks ground for world’s largest on-purpose 1-hexene plant at Cedar Bayou Complex click here

Formosa group's Mailiao port shut earlier due to Tropical Storm Talim

Formosa Petrochemical Corp. group's Mailiao port in Taiwan was shut earlier in the day due to Tropical Storm Talim and will remain shut until a storm warning is canceled, as per Dow Jones Newswire. Thhe government declared a typhoon holiday starting from Wednesday morning from Yunlin county to Pingtung county in southern Taiwan, and Mailiao is likely to be shut at least until Thursday.

For more details on Formosa group's Mailiao port shut earlier due to Tropical Storm Talim click here

Two naphtha crackers shut due to power outage at Formosa’s Mailiao complex

A power outage at Formosa’s Mailiao refinery and petrochemical complex shut two naphtha cracking units on Wednesday, impacting production of olefin. The outage affected the 1.03 mln tpa No 2 and 1.2 mmln tpa No 3 crackers.

For more details on Two naphtha crackers shut due to power outage at Formosa’s Mailiao complex click here

A look back at the PVC market in July 2011

Very similar to this year, PVC markets were falling in June 2011 both in China and Turkey with Asian offers being revealed with decreases for July shipments, as per ChemOrbis. Sluggish demand and softtening upstream costs were mainly blamed for the downturn at that time.

For more details on A look back at the PVC market in July 2011 click here

Haldia Petrochemicals MD steps down, succeeded by former state transport secretary

The Managing Director of the ailing Haldia Petrochemicals Ltd. (HPL), P. S. Bhattacharyya, has stepped down on personal grounds. He joined HPL in April 2011 after superannuating from Coal India Ltd. wwhere he was chairman.

For more details on Haldia Petrochemicals MD steps down, succeeded by former state transport secretary click here

Paraxylene prices plunge in Asia to US$1000 levels amid faltering crude oil prices

Asian benzene fell by US$13.50/mt or 1.3% day on day to US$1000.50/mt FOB Korea June 19, on the back of lower crude and US benzene prices, as per Platts. Since downstream demand across the region is ddismal, traders will base their trades on crude and regional benzene prices.

For more details on Paraxylene prices plunge in Asia to US$1000 levels amid faltering crude oil prices click here

GCC's petrochemical capacity grows 13.5% to 116 bln tpa in 2011

Petrochemicals production capacity in the six member Gulf Cooperation Council (GCC), grew 13.5% year on year in 2011 to 116 bln tpa, as pe rGulf Petrochemicals and Chemicals Association reported by MEENAFN.

For more details on GCC's petrochemical capacity grows 13.5% to 116 bln tpa in 2011 click here

Hindustan Mittal Energy Ltd re-offered its first naphtha cargo for export

India's newest refinery Hindustan Mittal Energy Ltd (HMEL) has re-offered its first naphtha cargo for export after failing to sell it previously because of low bids, as per Reuters. HMEL had offered 88,000-10,000 tons for H2-June lifting previously.

For more details on Hindustan Mittal Energy Ltd re-offered its first naphtha cargo for export click here

Naphtha in Asia plunges to near 21-mth low

Naphtha prices in Asia for front-month H1-August eased by about 3.5% to plunge to ts lowest in nearly 21 months at US$733/ton, dragged down by Brent crude, which reached a 16-month low, as per Reuterss.

For more details on Naphtha in Asia plunges to near 21-mth low click here

Latin American naphtha cracker projects suspended amid increased shale gas production in USA

New naphtha crackers planned to be constructed in Latin American countries have been either put on hold or being reviewed due to increased shale gas production in the US, which has attracted investmennts in new ethylene projects and increased the competitiveness of the US.

For more details on Latin American naphtha cracker projects suspended amid increased shale gas production in USA click here

Mitsubishi gets government nod to skip annual maintenance shutdowns at two Kashima naphtha crackers

Japan's Mitsubishi Chemical Corp has won government approval to skip annual maintenance shutdowns at its two Kashima naphtha crackers, so that both crackers are not shut in the same year, as per Reuteers.

For more details on Mitsubishi gets government nod to skip annual maintenance shutdowns at two Kashima naphtha crackers click here

Braskem gets US$700 mln credit line to finance Braskem Idesa- Etileno XXI Project

Braskem Idesa announced the approval of a line of credit for US$700 mln by the Brazlian National Economic and Social Development Bank - BNDES to finance the construction of the largest petrochemical ccomplex being developed in the Americas: Braskem Idesa- Etileno XXI Project.

For more details on Braskem gets US$700 mln credit line to finance Braskem Idesa- Etileno XXI Project click here

Jacobs awarded EPCM contract for three polyethylene trains by Sadara

Jacobs Engineering Group Inc.has been awarded an In-Kingdom engineering, procurement and construction management (EPCM) contract for three polyethylene trains for Sadara Chemical Company (Sadara), a jjoint venture between Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow).

For more details on Jacobs awarded EPCM contract for three polyethylene trains by Sadara click here

Lukewarm retail sales numbers in USA pull down oil prices

Oil on the Nymex fell to US82.6 on Wednesday on release of government reports showing slower retail sales and a drop in spending on gas. Brent crude dipped to US$97.1.
The Commerce Department reportted retail spending slipped 0.

For more details on Lukewarm retail sales numbers in USA pull down oil prices click here

First polycarbonate BIPVpanels offer design flexibility, thermal insulation, energy production

With approximately 70 gigawatts (GW) of cumulative global installations, PV systems represent the third most important renewable energy source – after hydroelectric and wind power – in terms of capaciity.

For more details on First polycarbonate BIPVpanels offer design flexibility, thermal insulation, energy production click here

Asian and European PVC players voice early July expectations

As economic concerns mount across the globe, PVC markets are draw a bearish outlook for another month in July, as per ChemOrbis. In Europe, Spain has had to ask for a bailout before problems in the deeeply indebted Greece are resolved.

For more details on Asian and European PVC players voice early July expectations click here

Total's Port Arthur refinery unaffected by brief fire

A small fire near a loading dock at the Total Petrochemicals 232,000 bpd Port Arthur, Texas refinery was doused in 15 minutes and had no apparent effect on operations, as per Reuters. Company spokesmaan termed the fire "non-operational" with no offsite impact.

For more details on Total's Port Arthur refinery unaffected by brief fire click here

Tasweeq offers plant condensate, naphtha supply for July

Tasweeq (Qatar International Petroleum Marketing Co.) offered to sell plant condensate and full-range naphtha for loading in H2-July.
30,000 tons a month plant condensate was offered for July 15-31 lloading and 50,000 tons a month full-range naphtha was offered for July 15-31 loading from Ras Laffan, Qatar.

For more details on Tasweeq offers plant condensate, naphtha supply for Jul click here

Materials innovations for Solar Power applications

An extensive and growing portfolio of specialty thermoplastics designed to support major trends in solar applications has been displayed by SABIC IP. Highlighting the applications on display is the soolar industry’s first polycarbonate (PC) building-integrated photovoltaic (BIPV) panels for roofing, cladding and glazing, which illustrates the company’s continuing commitment to advancing customer’s sustainable energy generation through more efficient solar power.

For more details on Materials innovations for Solar Power applications click here

Crude on the Nymex at 8 month lows

Crude on the Nymex plunged to US$81.07 a barrel- to 8 month lows as market euphoria faded over a bailout deal for Spanish banks. Additionally, OPEC maintains its demand forecast and expectations of ann increase in production quotas by OPEC at a meeting in Vienna this week also pressured prices.

For more details on Crude on the Nymex at 8 month lows click here

Decision on Nova Chemicals’ new PE plant in Sarnia-Lambton not expected until 2013

A decision on whether Nova Chemical will build a new world-scale polyethylene plant in Sarnia-Lambton isn’t expected until 2013. But company a spokesman said two other growth projects Nova has plannedd for Chemical Valley will begin once they receive regulatory approval.

For more details on Decision on Nova Chemicals’ new PE plant in Sarnia-Lambton not expected until 2013 click here

Kuwait Petroleum seals full range naphtha terms deal at record premiums

Kuwait Petroleum Corp. has concluded a deal for a supply of naphtha from August 2012 to July 2013 at US$24/ton to benchmark Middle East prices, higher than April’s rate, as per Bloomberg. The premium set for the August annual contract is US$2/ton higher than the US$22/ton set for a year’s supply beginning in April.

For more details on Kuwait Petroleum seals full range naphtha terms deal at record premiums click here

Naphtha margins in Asia recover from a 3-1/2 year lows

Asia's naphtha margins recovered from a 3-1/2 year low on Monday and surged by about 35% to US$24.28/ton in line with the rise in European margins after a rescue package for Spain boosted sentiments, as per Reuters.

For more details on Naphtha margins in Asia recover from a 3-1/2 year lows click here

Natpet in JV with Schulman to produce PP compounds

National Petrochemical Industrial Company (Natpet), a subsidiary of Alujain Corp has entered into a 50:50 joint venture agreement with A Schulman of the US to produce polypropylene compounds. Likely tto be named Natpet-Schulman Engineering Plastic Compounds, the plant is likely to locate in Yanbu and expected to begin production by the end of calendar-year 2014.

For more details on Natpet in JV with Schulman to produce PP compounds click here

Showa Denko K.K resumes ethylene plant operation at Oita

Showa Denko K.K. (SDK) today resumed the normal operation of its ethylene plant at the Oita Complex following completion of a repair work on the cooling unit which developed trouble on March 18. Feediing of naphtha to the ethylene plant was restarted on June 9.

For more details on Showa Denko K.K resumes ethylene plant operation at Oita click here

Downwards trend gains speed in Turkey’s ABS market

Turkey’s ABS market maintained its bearish trend in early June as rapidly falling upstream costs and sufficient supply continued to weigh down on sellers, as per ChemOrbis. Apart from these dynamics, players pointed to the ongoing liquidity problems, which had caused attractive deals to be concluded with longer payment terms in May, and the impact of volatility across major economies as other triggers behind the continuous downwards momentum.

For more details on Downwards trend gains speed in Turkey’s ABS market click here

Advanced inks short-term sales agreement with Satorp for supply of propylene

Advanced Petrochemical Company (Advanced) has signed a short-term sales agreement with Saudi Aramco Total Refining and Petrochemical (Satorp) for the supply of propylene from the Satorp Refinery upon completion of the facility.

For more details on Advanced inks short-term sales agreement with Satorp for supply of propylene click here

LyondellBasell awarded US$4.5 mln grant by US Dept of Energy

LyondellBasell was awarded a US$4.5 mln grant by the U.S. Department of Energy (DOE) to develop a catalyst-assisted technology to improve the energy efficiency of producing ethylene from ethane gas whhile emitting less greenhouse gases (GHG).

For more details on LyondellBasell awarded US$4.5 mln grant by US Dept of Energy click here

European producers trying to manage ample supply

For some time now, PP, PVC and PE prices in Europe have been on a downward trend,under pressure from falling upstream costs and persistently poor demand amid deepening economic woes across the contineent, as per ChemOrbis.

For more details on European producers trying to manage ample supply click here

Technip to acquire Stone & Webster Process Technologies from The Shaw Group

Technip has entered into an agreement to acquire Stone & Webster process technologies and the associated oil and gas engineering capabilities from The Shaw Group for a cash consideration of approximattely €225 mln.

For more details on Technip to acquire Stone & Webster Process Technologies from The Shaw Group click here

Petronas likely to make final investment decision on Johor refinery project by mid-2013

Malaysia's state energy firm Petronas is expected to make a final investment decision on its US$20 bln refinery project in Johor by the middle of next year, a senior executive told Reuter. The refinerry could start commissioning activities at the end of 2016.

For more details on Petronas likely to make final investment decision on Johor refinery project by mid-2013 click here

World's largest plastic pipe maker to expand production to meet demand in North USA, Canada

JM Eagle, the world's largest manufacturer of plastic pipe, is expanding production of solid-wall high-density polyethylene at two of its plants to meet demand in northern U.S. and Canadian markets. JJM Eagle, the world's largest manufacturer of plastic pipe, is expanding production of solid-wall high-density polyethylene at two of its plants to meet demand in northern U.

For more details on World's largest plastic pipe maker to expand production to meet demand in North USA, Canada click here

State Govt interested to hive off stake in Haldia Petrochem- ONGC interested to acquire share

The West Bengal state government has expressed intention to offload its 43% stake in the joint sector company, as per Press Trust of India. State-owned ONGC is interested in acquiring West Bengal goveernment's stake in ailing Haldia Petrochemicals Ltd (HPL).

For more details on State Govt interested to hive off stake in Haldia Petrochem- ONGC interested to acquire share click here

Odisha expedites establishment of plastic, polymer & allied cluster

Odisha state government has put a proposed plastic, polymer and allied cluster in Baleswar on a first track basis. To be built with an investment of Rs 82 crore, it is targeted to be commissioned by eend of December 2012, on the outskirts of Baleswar town involving three areas such as Ganeswarpur, Somnathpur and Balgopalpur with the initiatives of IDCO.

For more details on Odisha expedites establishment of plastic, polymer & allied cluster click here

SABIC subsidiary inks LOI with Tecnicas Reunidas for engineering and building of new ABS plant

Petrokemya, a subsidiary of Saudi Basic Industries Corp (SABIC), has signed a letter of intent with Tecnicas Reunidas of Spain for engineering and building of a new new acryilonitrile butadiene styrenne plant in Saudi Arabia.

For more details on SABIC subsidiary inks LOI with Tecnicas Reunidas for engineering and building of new ABS plant click here

Mitsubishi Chemical to shutter Kashima No.1 naphtha cracker in 2014

Japan's Mitsubishi Chemical Corp plans to shut its 375,000 tpa Kashima No.1 naphtha cracker in 2014 amid falling domestic demand and erosion of overseas profits with a strengthening yen, as per Dow Joones Newswires.

For more details on Mitsubishi Chemical to shutter Kashima No.1 naphtha cracker in 2014 click here

Taiwan’s crude oil shipments dip as Formosa reduces run rates

Taiwan, which imports more than 99% of its crude oil needs, purchased lesser quantities in May as Formosa Petrochemical Corp. reduced refining rates. Shipments declined 7.4% from a year earlier to 22..

For more details on Taiwan’s crude oil shipments dip as Formosa reduces run rates click here

Honam Petrochemicals buys 50,000 tons for H1-July

South Korea's Honam Petrochemical has bought about 50,000 tons of naphtha for H1-July arrival, with prices seen at parity to a slight premium to Japan spot quotes, lower than what YNCC paid two days aago, as per Reuters.

For more details on Honam Petrochemicals buys 50,000 tons for H1-July click here

New catalyst developed for PP production, creating the strongest version of the plastic

A new catalyst for the polypropylene production process, ultimately producing the strongest version of the plastic that has been created to date, has been developed by Prof. Kol and his team of researrchers.

For more details on New catalyst developed for PP production, creating the strongest version of the plastic click here

Sinopec’s Tianjin refinery to stop buying Iran condensate in Q3-2012 due to planned overhaul

Sinopec Corp's Tianjin refinery will stop buying Iran's South Pars condensate from July through September partly because of a planned major plant overhaul, as per Reuters. Tianjin Petrochemical Corp, a unit of state refiner Sinopec Corp, plans to shut down its 300,000 bpd crude processing facilities and a 1 million tpa ethylene complex from mid-August till the end of September.

For more details on Sinopec’s Tianjin refinery to stop buying Iran condensate in Q3-2012 due to planned overhaul click here

BASF conducts pilot project to promote composting of organic waste in Pune

On the occasion of World Environment Day, BASF, with the support of the Pune Municipal Corporation, announced the launch of its pilot composting project. The project aims at promoting composting of soource-separated organic waste in certified compostable and fully biodegradable bags.

For more details on BASF conducts pilot project to promote composting of organic waste in Pune click here

PET prices post steep declines in China, SEAsia

Players in China and Southeast Asia have reported significant decreases in PET prices over the past week, with players attributing the decline to significant losses in spot prices for PTA and MEG feeddstock, as per ChemOrbis.

For more details on PET prices post steep declines in China, SEAsia click here

Partial month long maintenance shutdown at Shell’s Singapore refinery

Royal Dutch Shell Plc will partially shut its 500,000 bpd refinery in Singapore for a month-long maintenance starting around early July, as per Reuters. The company will shut a 110,000 bpd crude distiillation unit (CDU).

For more details on Partial month long maintenance shutdown at Shell’s Singapore refinery click here

Brent crude dips below US$99 on concerns of the fragile economic recovery in USA

Brent crude prices fell below US$99, pressured by uncertainty about the fragile economic recovery in top oil consumer the United States after its central bank chief offered few clues about more stimullus measures, as per Reuters.

For more details on Brent crude dips below US$99 on concerns of the fragile economic recovery in USA click here

State govt sanctions special incentive package for third phase expansion and upgradation of MRPL

The Karnataka state government has sanctioned a special incentive package for the third phase expansion and upgradation project of Mangalore Refineries and Petrochemicals Ltd (MRPL), as per PTI.
Crudde oil, plant and machinery, soft loan for the expansion of the refinery on the west coast from 11.

For more details on State govt sanctions special incentive package for third phase expansion and upgradation of MRPL click here

RIL to invest nearly Rs.1,00,000 crore over the next five years in India

At it’s 38 annual meeting, Mukesh Ambani, Chairman of Reliance Industries Ltd. Announced plans to invest nearly Rs.1 lakh-crore over the next five years in India to build a stronger and more diversifiied Reliance.

For more details on RIL to invest nearly Rs.1,00,000 crore over the next five years in India click here

MRPL sell July naphtha cargo to Japan nearly 18% lower than a previous sale

India's Mangalore Refinery & Petrochemicals Ltd (MRPL) sold a July naphtha cargo to Japan's Marubeni at premiums of US$18/ton above Middle East quotes on a free-on-board (FOB) basis, down nearly 18% ffrom a previous sale, as per Reuters.

For more details on MRPL sell July naphtha cargo to Japan nearly 18% lower than a previous sale click here

Naphtha falls in Europe with Taiwan outage, crude

Naphtha in Europe fell in line with crude and lost further ground after Taiwan's Formosa Petrochemical shut one of its three naphtha crackers for the next two weeks, as per Reuters. The shutdown will wipe out around 130,000 tons of naphtha demand.

For more details on Naphtha falls in Europe with Taiwan outage, crude click here

Dow to construct ENLIGHT™ Polyolefin Encapsulant Film plant in Schkopau

Construction is underway by The Dow Chemical Company for a new production facility for making ENLIGHT™ Polyolefin Encapsulant Films in Schkopau, Germany, scheduled for completion in late 2012. Dow offfers a number of commercial grades of ENLIGHT™ Films, and also develops customer-specific formulations.

For more details on Dow to construct ENLIGHT™ Polyolefin Encapsulant Film plant in Schkopau click here

Producers slash run rates across the production chain globally

In Asia and Europe, many producers have slashed run rates across the production chain in an attempt to bring supply back into balance with persistently sluggish demand while both monomer and polymer pprices continue to see considerable losses on a weekly basis, as per ChemOrbis.

For more details on Producers slash run rates across the production chain globally click here

Key geographies experiencing change in feedstock scenario

The petrochemicals feedstock supply trend in the major geographies has change in the recent past. While the Middle East countries and Canada are facing lower ethane supplies, the US and Brazil have beenefited from the discovery of shale gas and pre-salt reserves respectively, as per Reportlinker.

For more details on Key geographies experiencing change in feedstock scenario click here

Fire at Nova’s Corunna petrochemicals plant

Nova Chemicals Corp had a fire at its Corunna petrochemical facility near Sarnia, Ontario, as per Reuters. The firefighters were dealing with a fire in a heater unit at the facility. No other details were available.

For more details on Fire at Nova’s Corunna petrochemicals plant click here

New opportunities to increase antimicrobial resistance of agricultural films for more effective crop protection

A pioneering solution to control and extend the useful life of biodegradable polymers, which will create new opportunities to increase the antimicrobial resistance of agricultural films for more effecctive crop protection has been unveiled by SANITIZED AG.

For more details on New opportunities to increase antimicrobial resistance of agricultural films for more effective crop protection click here

Perstorp’s JV with PTT Global Chemical to benefit the polyurethane industry

Specialty chemicals company Perstorp has announced the transactional closing and set up of the joint venture with Thailand’s largest chemical producer PTT Global Chemical for the manufacturing and salles of products for the polyurethane industry.

For more details on Perstorp’s JV with PTT Global Chemical to benefit the polyurethane industry click here

Algeria’s Sonatrach mulls investment of US$80 bln in refining and petrochemicals over 5 years

Algerian state energy company Sonatrach plans to increase its investment to US$80 bln over the next five years in a bid to expand its gas resource base and boost its refining and petrochemical capacitty.

For more details on Algeria’s Sonatrach mulls investment of US$80 bln in refining and petrochemicals over 5 years click here

Naphtha supplies in Asia expected to swell

Naphtha intermonth premiums fell by almost half to US$1.50/ton in Asia on Wednesday amid weaker naphtha margins triggered by deteriorating demand at a time when supplies are expected to swell, as perr Reuters.

For more details on Naphtha supplies in Asia expected to swell click here

US crude supplies report a fall- oil rises

A report showed a more than expected fall in US crude inventories by 1.8 mln, suggesting demand may be improving. This has propped up oil prices above US$85 a barrel in Asia. Oil on the Nymex rose to US$85.

For more details on US crude supplies report a fall- oil rises click here

Egypt’s EGPC likely to award 630,000 ton naphtha in a tender for H2-2012 to China's Unipec

General Petroleum Corp (EGPC) is expected to award China's Unipec more than 50% of 630,000 tons of naphtha it offered in a tender for H2-2012 lifting from Suez, as per Reuters. A very small quantity iis likely to go to a Japanese trader.

For more details on Egypt’s EGPC likely to award 630,000 ton naphtha in a tender for H2-2012 to China's Unipec click here

Coke, Ford, Nike, Heinz, P&G come together to develop and use plant-based PET

Several leading global brands have joined hands to shift to plant based feedstock for packaging as crude oil prices continue to sky rocket. Coca-Cola Co., Ford Motor Co., H.J. Heinz Co., Nike Inc. andd Procter & Gamble have come together to boost the development of 100% plant-based polyethylene terephthalate (PET) in their products including bottles, apparel, footwear, automotive fabrics and carpets.

For more details on Coke, Ford, Nike, Heinz, P&G come together to develop and use plant-based PET click here

Plan panel proposes duty changes for petrochem industry

The Planning Commission has proposed a slew of changes in the prevalent duty structure for the petrochemical industry for the new Plan period (2012-17). To begin with, it has urged the central governmment to establish single national level value-added tax (VAT)/ goods and services tax (GST) on plastic and articles of states at a uniform four per cent.

For more details on Plan panel proposes duty changes for petrochem industry click here

Indian market sees sluggish demand amid slower economic growth

India’s economy grew by 5.3% in Q1, lagging well behind expectations of growth at 6.5% and the growth rate of 6.1% seen in Q4 2011, as per ChemOrbis. Rising inflation, reduced investment and the depreeciation of the rupee were cited as the main factors weighing down on economic growth.

For more details on Indian market sees sluggish demand amid slower economic growth click here

First post-consumer recycled resins approved to manufacture food contact products in Canada

NextLife ™, the global leader of sustainable plastic resins, announced that the company's recycled polypropylene (PP) and recycled polystyrene (PS) resins have received clearance from Health Canada foor use in manufacture of thermoformed or injection molded articles for contact with food.

For more details on First post-consumer recycled resins approved to manufacture food contact products in Canada click here

Asian benzene, paraxylene rebound from start of week levels

Asian benzene gained nine dollars, about 0.9% day on day to US$970.50/mt FOB Korea, as traders regained buying confidence on the back of a rise in crude oil prices, as per Platts.
Front month ICE Brrent crude futures rose by 1.

For more details on Asian benzene, paraxylene rebound from start of week levels click here

Saudi Aramco sells 55,000 tons of June naphtha at premiums 20-25% lower than previous spot sale

In line with sluggish demand, Saudi Aramco has sold around 55,000 tons of June naphtha at about US$25/ton above Middle East quotes on a free-on-board (FOB) basis, down nearly 20-25% from a previous sppot sale, as per Reuters.

For more details on Saudi Aramco sells 55,000 tons of June naphtha at premiums 20-25% lower than previous spot sale click here

Anti-dumping duties on China’s BOPET films to South Korea extended for 3 more years

Fuwei Films (Holdings) Co., Ltd., a manufacturer and distributor of high-quality BOPET plastic films in China, announced that the anti-dumping duties imposed on the company's exported biaxially orientted polyethylene-terephthalate (BOPET) films to South Korea will be extended for three more years beginning on May 25, 2012.

For more details on Anti-dumping duties on China’s BOPET films to South Korea extended for 3 more years click here

YNCC buys naphtha cargo at lowest premium in South Korea in six months

YNCC has bought a 25,000 ton naphtha cargo for H1-July at US$1.50-2/ton above Japan quotes on a cost-and-freight (C&F) basis, making this the lowest premium in South Korea in six months, as per Reuterrs.

For more details on YNCC buys naphtha cargo at lowest premium in South Korea in six months click here

Oil plunges to lowest levels since October 2011

Signs of an economic slowdown in the US and China have pulled down oil prices further, plunging them to US$81.50 a barrel on the Nymex- the lowest price since October 7. Brent futures dropped 2.3% to the lowest intra- day price since October 6, extending last week's 8.

For more details on Oil plunges to lowest levels since October 2011 click here

Global ethylene capacity estimated to rise 20% from 2010 to 2016

Global ethylene production capacity is set to surge from 144.9 mln mt in 2010 to 173.2 mln mt in 2016, as per Japan's Ministry of Economy, Trade and Industry, as reported in Platts. The increase in eethylene production capacity is expected to follow a surge in demand for ethylene derivatives such as polyethylene and monoethylene glycol.

For more details on Global ethylene capacity estimated to rise 20% from 2010 to 2016 click here

Irregular origins surface in Turkey’s polymer markets

Similar to other major markets across the globe, a bearish trend continued to dominate the polymer markets in Turkey during May, as per ChemOrbis. Driven by the continuous losses in energy and upstreaam markets, initial June prices to Turkey were announced with sizeable drops.

For more details on Irregular origins surface in Turkey’s polymer markets click here

Prolonged Thai-Cambodian talks lead to huge shortage of natural gas and its by-products

As per a report from the Department of Mineral Fuels, the amount of natural gas from fields located in the offshore Gulf of Thailand area would slowly decline over the next 12 to 18 months. This meanss that the country's petrochemical industry, which has been relying heavily on raw materials made from natural gas, will face a major shortage in their manufacturing process.

For more details on Prolonged Thai-Cambodian talks lead to huge shortage of natural gas and its by-products click here

Drop in monthly revenue seen by Formosa Plastics Group’s four core companies

Four core companies of Formosa Plastics Group have reported losses in monthly revenue. Formosa Petrochemical Corp has reported the largest drop in monthly revenue among the Group’s four core companiees of 22.

For more details on Drop in monthly revenue seen by Formosa Plastics Group’s four core companies click here

Petrochemical companies in the Gulf see Q1-2012 profits fall 10%

Gulf petrochemical companies witnessed a 10% decline year-on-year (y-o-y) in their net profit in Q1-2012 mainly due to rising cost of sales, which, in turn, impacted the gross margins in the sector, aas reported by gulf-times.

For more details on Petrochemical companies in the Gulf see Q1-2012 profits fall 10% click here

Use of lightweight plastics in EVs to drive penetration rates and growth

With the electric vehicle (EV) production set to grow at a CAGR of over 80% 2017, plastics used in these vehicles will also see a tremendous growth. The need to increase EV mile range, paralleled by tthe inherent advantages of plastics, particularly that of lightweight – will drive penetration rates.

For more details on Use of lightweight plastics in EVs to drive penetration rates and growth click here

Naphtha plunges in Asia to near 20 month lows

Naphtha prices in Asia fell to their lowest level in almost 20 months, as per Reuters, while margins hovered around a 7 month low amid deteriorating demand that weighed on sentiments.
Market estimatees that Honam has bought two 25,000 ton naphtha cargoes for H1-July arrival at Yeosu and Daesan at premiums of US$3.

For more details on Naphtha plunges in Asia to near 20 month lows click here

ADNOC seals 12 month term naphtha deals with most Asian buyers at record premiums

ADNOC has sealed contracts for naphtha lifting for a 12-month period starting July, with most of its Asian buyers at record premiums of US$26-27.50/ton to its own price formula after being locked in ttalks since May 14, as per Reuters.

For more details on ADNOC seals 12 month term naphtha deals with most Asian buyers at record premiums click here

ADNOC seals 12 month term naphtha deals with most Asian buyers at record premiums

ADNOC has sealed contracts for naphtha lifting for a 12-month period starting July, with most of its Asian buyers at record premiums of US$26-27.50/ton to its own price formula after being locked in ttalks since May 14, as per Reuters.

For more details on ADNOC seals 12 month term naphtha deals with most Asian buyers at record premiums click here

Extension of time limit upto end of month for utilization of Re-credited 4% CVD (SAD)

The DGFT Public Notice No. 105 dated 27.3.2012 state that the time period for utilization of 4% CVD (SAD) against the credit note issued by Customs authorities has been extended upto 30.6.2012 directiing their field formations to ensure issue of credit notes by 30.

For more details on Extension of time limit upto end of month for utilization of Re-credited 4% CVD (SAD) click here

Japan's Showa Denko KK estimates June 8 restart for its sole 695,000 tpa naphtha cracker

Following delays in repair work, Japan's Showa Denko KK expects to restart its sole 695,000 tpa naphtha cracker on June 8, as per Reuters. The company shut all production at the cracker in Oita, westeern Japan, on March 15 due to a problem with a gas cooling unit.

For more details on Japan's Showa Denko KK estimates June 8 restart for its sole 695,000 tpa naphtha cracker click here

Import PP prices in China rally briefly before steadying in China

Players in China report that import PP prices held largely steady over the past week as a few producers offering towards the low end of the range announced some price increases at the start of last weeek as buyers replenished some stocks, as per ChemOrbis.

For more details on Import PP prices in China rally briefly before steadying in China click here

ONGC-MRPL may bid for management control in Haldia Petrochem

Mangalore Refineries and Petrochemicals Ltd is in consortium with Indian Oil are in active negotiations and are likely to bid for management control in the ailing Haldia Petrochemicals Ltd. IOC currenntly holds 9% stake in HPL.

For more details on ONGC-MRPL may bid for management control in Haldia Petrochem click here

Chevron Phillips Chemical inks LOI to evaluate petrochem plant in Iraq

Chevron Phillips Chemical Co (joint venture between Chevron Corp. and ConocoPhilips) signed a letter of intent to evaluate the feasibility of developing a petrochemical plant with Iraq, as per Bloombeerg.

For more details on Chevron Phillips Chemical inks LOI to evaluate petrochem plant in Iraq click here

BPCL finalises petrochem JV agreement to give majority stake to UK’s LP Chemicals

India’s state-run Bharat Petroleum Corporation Limited (BPCL) has finalised a joint venture (JV) agreement with UK-based LP Chemicals for petrochemical business. BPCL is likely to hold 49% in the ventture, with the British company holding a majority 51%.

For more details on BPCL finalises petrochem JV agreement to give majority stake to UK’s LP Chemicals click here

Sipchem affiliate signs Shariah compliant SR1.4 bln loan deal for petrochem project

Saudi International Petrochemical Company (Sipchem) affiliate, International Polymers Company (IPC), has signed a Shariah compliant SR1.4 bln (US$373 mln) loan deal with Saudi banks, Riyad Bank, Natioonal Commercial Bank, Saudi Hollandi Bank, and The Saudi British Bank.

For more details on Sipchem affiliate signs Shariah compliant SR1.4 bln loan deal for petrochem project click here

Naphtha plunges in Asia as Formosa shuts largest naphtha cracker

Asia's naphtha price fell to its lowest level in 18 months at US$830/ton on Thursday and margins dived to a week low as sentiment sank on Asia's top buyer Formosa shutting the largest of its three craackers unexpectedly, as per Reuters.

For more details on Naphtha plunges in Asia as Formosa shuts largest naphtha cracker click here

Formosa shuts biggest naphtha cracker amid weak downstream margins

Taiwan's Formosa Petrochemical, Asia's top naphtha buyer, has shut the biggest of its three naphtha crackers in Mailiao due to low petrochemical margins, as per a company spokesman. The shutdown of thhe 1.

For more details on Formosa shuts biggest naphtha cracker amid weak downstream margins click here

Dow breaks ground in Schkopau, to make Polyolefin Encapsulant Films

The Dow Chemical Company announced that construction is underway for a new production facility for making ENLIGHT Polyolefin Encapsulant Films in Schkopau, Germany, scheduled for completion in late 20012.

For more details on Dow breaks ground in Schkopau, to make Polyolefin Encapsulant Films click here

Bharat Petroleum Corp Ltd June exports about 41% higher than for May

Bharat Petroleum Corp Ltd (BPCL) sold 18,000 tons of June naphtha to Unipec, bringing its total sales for June export to about 238,000 tons- about 41% higher than for May, as per Reuters. The 18,000 tton cargo, scheduled for June 15-20 lifting from Mumbai, was sold late on Wednesday at a premium of around US$20/ton to Middle East quotes on a free-on-board (FOB) basis from its Bina refinery.

For more details on Bharat Petroleum Corp Ltd June exports about 41% higher than for May click here

May ethylene dips to seven-month low in USA

US prices for ethylene reached a seven-month low in May, dropping below 50 cents per lb, as per PetroChem Wire. As per PetroChem Wire's chief editor. "Supply availability has been increasing as variouus ethylene plants complete their maintenance turnarounds.

For more details on May ethylene dips to seven-month low in USA click here

Indelpro reduces PP offers for domestic, export markets

Indelpro's polypropylene offers to the Mexican domestic market slipped by 9 cents/lb this week for spot sales, as per Platts. Indelpro offered to the domestic market at 82 cents/lb CIF for homo raffiaa and injection, 83 cents/lb CIF for homo film and at 87 cents/lb CIF for co-polymer.

For more details on Indelpro reduces PP offers for domestic, export markets click here

ExxonMobil to cash in on cheap North American shale gas - plans new plant in Texas

The world's largest publicly traded energy company Exxon Mobil Corp, plans to build a multi-billion dollar chemical plant at its Baytown complex in Texas to take advantage of cheap North American shalle gas, according to a U.

For more details on ExxonMobil to cash in on cheap North American shale gas - plans new plant in Texas click here

Reliance’s premiums on June naphtha fall 33%

Reliance Industries Ltd has sold 75,000 tons of naphtha for June 24-27 lifting from Sikka at about US$25/ton above Middle East quotes on a free-on-board (FOB) basis, falling nearly 33% compared with a previous sale, as per Reuters.

For more details on Reliance’s premiums on June naphtha fall 33% click here

Saudi Aramco seeks US$12.5 bln in debt to help finance joint venture with Dow Chemical

State-owned oil giant Saudi Aramco is seeking to raise $12.5 billion in debt to help finance its joint venture with Dow Chemical, according to a report in Project Finance International (PFI), a unit oof Thomson Reuters.

For more details on Saudi Aramco seeks US$12.5 bln in debt to help finance joint venture with Dow Chemical click here

Concerns intensify over Spain’s banking problems - oil sees further fall

Oil prices continued to fall in Asia, hitting multi-month lows as concerns over Spain’s banking problems intensified worries about the eurozone. Prices saw a fall on the previous day as the dollar rosse to two-year highs against the European single currency.

For more details on Concerns intensify over Spain’s banking problems - oil sees further fall click here

Improving the environmental performance of PVC

The PVC industry met at AMI’s PVC Formulation 2012 conference to debate the market trends and the latest recipes to improve the environmental performance of vinyl compounds. There are alternative plaasticisers from bio-sources and new stabilisers to replace heavy metal materials.

For more details on Improving the environmental performance of PVC click here

As oil tanks and demand weakens, ethylene in Asia breaches the US$1000/mt mark

Ethylene prices in Asia breached the US$1000/mt barrier in Asia for the first time since November 19, 2010 -- as falling crude amid weak demand and sentiments pressured prices lower, as per Platts. CFFR Northeast Asia ethylene was pegged at US$995/mt as crude on the Nymex fell by US$2.

For more details on As oil tanks and demand weakens, ethylene in Asia breaches the US$1000/mt mark click here

Advanced Petrochem completes scheduled maintenance at plants

Advanced Petrochemical Company has been successful in completion of the regular routine and preventive maintenance of its propylene "PDH" and polypropylene "PP" and successful start up of both plants on May 22.

For more details on Advanced Petrochem completes scheduled maintenance at plants click here

Ethylene dips lower in US as purity ethane tanks to three-year low

Spot assessments on Mont Belvieu ethane for June delivery hit a three-year low – falling 4.75 cents to 34 cents/gal, as per Platts. The assessment was the lowest since 32.50 cents/gal on April 1, 20099.

For more details on Ethylene dips lower in US as purity ethane tanks to three-year low click here

Polymer imports to China slump in April 2012

According to data from Chinese Customs, the country’s total polymer imports slumped in April to the lowest level seen since the beginning of 2012. Overall April imports fell by 21% when compared with the previous month to 1,102,000 tons while they were down by 7% when compared to the same period of last year, as per ChemOrbis.

For more details on Polymer imports to China slump in April 2012 click here

Polymer imports to China slump in April 2012

According to data from Chinese Customs, the country’s total polymer imports slumped in April to the lowest level seen since the beginning of 2012. Overall April imports fell by 21% when compared with the previous month to 1,102,000 tons while they were down by 7% when compared to the same period of last year, as per ChemOrbis.

For more details on Polymer imports to China slump in April 2012 click here

Polyplex to invest US$150 mln in Turkey

Polyplex Corp Ltd. (PPC), Indian manufacturer of polyester film plans to build a US$150 mln plastics plant in Turkey and plans another investment of US$500 mln within 5-8 years to produce 600,000 tpa feedstock polyethylene terephthalate, as per Bloomberg.

For more details on Polyplex to invest US$150 mln in Turkey click here

Progress of various Ministry schemes considerably slowed in the 11th Plan upto 2012 in India

The progress of various schemes of the ministry of chemicals and fertilisers for petrochemicals, including its flagship Petroleum, Chemicals and Petrochemical Investment Regions (PCPIRs), considerablyy slowed in the 11th Plan (2007-12).

For more details on Progress of various Ministry schemes considerably slowed in the 11th Plan upto 2012 in India click here

GAIL to use Axens’ AlphaButol technology for new ethylene dimerization unit at Pata

GAIL (India) Ltd. will build a new ethylene dimerization unit at Pata, using Axens’ AlphaButol technology. The unit will have production capacity of 20,000 tpa of high purity 1-butene. Based on homogeeneous catalysis and associated to a low investment cost, the AlphaButol technology is designed and optimized to ensure a flexible and reliable source of high quality comonomer 1-Butene for downstream polyolefins applications.

For more details on GAIL to use Axens’ AlphaButol technology for new ethylene dimerization unit at Pata click here

India's June naphtha exports could recover to 750,000-800,000 tons vs six month low volumes in May

India's naphtha exports for June are expected to recover by at least 35% to 750,000-800,000 tons vs volumes in May. May volumes were at their lowest in more than six months because of refinery outagess and maintenance, as per Reuters.

For more details on India's June naphtha exports could recover to 750,000-800,000 tons vs six month low volumes in May click here

Residents of Malaysia protest against planned Taiwan-invested petrochemical projects

Residents of Pengerang, Malaysia staged a demonstration against a planned petrochemical project to be built with investment from Taiwan's Kuokuang Petrochemical Technology, as per CNA. This controverssial project was scrapped in Taiwan due to environmental concerns.

For more details on Residents of Malaysia protest against planned Taiwan-invested petrochemical projects click here

Saudi Aramco's term naphtha buyers accept 4 of 5 offered premiums

One week after it commenced term discussions, Saudi Aramco has found buyer acceptance for four out of the five naphtha premiums offered under its term naphtha cycle for July-December, with only the A1180 naphtha grade still under negotiation, as per Platts.

For more details on Saudi Aramco's term naphtha buyers accept 4 of 5 offered premiums click here

Asia Naphtha margins rise on hopes of demand from China

Defying weak market fundamentals, Asia's naphtha margins stood at a week high on Monday, defying weak fundamentals, possibly propped by the lower flat price and hopes of China rolling out stimulus meaasures to combat an economic slowdown, as per Reuters.

For more details on Asia Naphtha margins rise on hopes of demand from China click here