European petrochemical companies are limiting purchases of naphtha feedstock for steam cracking ahead of the fourth quarter, as per Platts. The hesitant buying comes despite a recent rise in North Seaa propane prices, a feedstock competing with naphtha in the steam cracking process.
For more details on European petrochemical companies restrict naphtha purchases ahead of Q4 click here
LyondellBasell announced the launch of a new family of fifth-generation non-phthalate catalysts for polypropylene (PP) production. These catalysts will be sold under the existing Avant trade name and complement the company's well-established third-, fourth- and fifth-generation Ziegler-Natta PP catalysts.
For more details on LyondellBasell launches new family of fifth-generation Polypropylene catalysts click here
The October polyethylene and polypropylene allocation to Asia from Middle East may be lower because of high European prices, as per Platts. European PE and PP prices have jumped since the start of Sepptember as converters replenished stocks amid rising feedstock costs.
For more details on October polyolefins allocation from Middle East to Asia may be lower click here
Bharat Petroleum Corporation Ltd has signed a Memorandum of Understanding (MoU) for its expansion project and the setting up of a petrochemical joint venture to be implemented in three years time at KKochi, as per ANI.
For more details on BPCL signs MoU for 20,000 crore worth of expansion projects in Kerala click here
Total Petrochemicals & Refining USA reported pollution in excess of permitted levels from a coking unit at the company's 225,500-barrels-per-day Port Arthur, Texas refinery on Friday, as per a notice the plant filed with regulators, as reported by Reuters.
For more details on Total Petrochem reports pollution in excess of permitted levels at Port Arthur click here
Fluor Corporation has been awarded an engineering, procurement and construction management (EPCM) contract by The Dow Chemical Company for a propylene production asset project in Freeport, Texas. Fluoor successfully completed the front-end engineering and design (FEED) contract thereby setting the stage for this next-phase EPCM project award.
For more details on Fluor selected for Dow Chemical Company's propylene production project in Texas click here
India’s first Centre for Biopolymer Science and Technology was inaugurated at Kochi in Kerala state, jointly by Union Fertilisers and Chemicals Minister and State Chief Minister. This Centre is a unitt of the Central Institute of Plastic Engineering and Technology at Chennai, and will be conducting MSc in Biopolymer Science and doctoral programmes in the area of Biopolymer Science and Technology in collaboration with the Cochin University of Science and Technology.
For more details on Centre for biopolymer science unveiled in South India click here
The Thai petrochemical industry risks losing out to its Indonesian rivals when the Asean Economic Community (AEC) kicks off in three years, as per Industry Minister M.R. Pongsvas Svasti in Bangkok Posst.
For more details on Thai petrochemical industry likely to lose out to Indonesia click here
PetroLogistics LP , operator of the only dedicated U.S. propylene plant, is seeking permission to double the Houston factory’s output as supplies fall and competitors including Dow Chemical Co. plan ssimilar facilities, as per Bloomberg.
For more details on PetroLogistics seeks permission to double propylene output in Houston click here
New York's main contract, light sweet crude for delivery in October, inched up to US$97, while Brent North Sea crude rose to US$116. Oil prices rose in Asian trade today as tensions sparked by the killling of the US ambassador to Libya and a German court ruling on a eurozone bailout fund helped boost prices.
For more details on Oil prices rise amid tensions in Libya and ruling on Eurozone bailout fund click here
Naphtha price in Asia fell for the first time in a week to US$996/ton as margins plunged 11% to a two-week low of US$127.5/ton. This is the biggest percentage fall in a month triggered by anticipationn of easing of tight supplies, as per Reuters.
For more details on Naphtha margins in Asia sink to two week lows click here
Players in India report that initial October PVC prices have been announced with increases from September on the back of firm upstream costs and limited regional availability, as per ChemOrbis. Howevver, prices at the upper end of the new import range are struggling to find support as a major Taiwanese producer’s new prices stand close to the lower end of the import range, pressuring sellers at the higher end to moderate their hike targets.
For more details on Import PVC prices rise in India, high end fails to find support click here
UOP LLC, a Honeywell technology has been selected to help produce key ingredients for fuels, synthetic rubber and plastics in China.China's Heilongjiang Anruijia Petrochemical Co. will use Honeywell'ss UOP C4 Oleflex™ process to produce isobutylene, a key ingredient for fuels and synthetic rubber.
For more details on Honeywell’s UOP C4 Oleflex™ selected to provide technology for petrochemical production in China click here
L&T Construction has bagged orders worth Rs 1,065 crore which include two major engineering, procurement and construction (EPC) projects in the Petroleum, Chemicals, Petrochemicals Investment Region ((PCPIR) of Dahej, Gujarat.
For more details on L&T awarded two EPC projects in Dahej PCPIR click here
High European polyethylene prices are attracting import offers for October delivery from Asia and the Middle East, as per Platts. According to Platts data, low density FOB NWE prices have steadily cliimbed after touching 2012's low of US$1227.
For more details on High polyethylene prices in Europe attract imports for October click here
Oil prices traded virtually flat below US$97 on the NYmex, as traders await news from Europe and USA that could largely impact the financial markets. In London, Brent crude, used to price internationaal varieties of oil, inched up to US$114.
For more details on Oil prices stagnate below US$97 as market awaits news from Europe and USA click here
PT Pertamina says it will seize the assets of local petrochemical company PT Trans Pacific Petrochemical Indotama (TPPI) for failure to repay its piling debts, as per Jakarta Post.
Pertamina finance director Andri T.
For more details on Pertamina mulls seizure of PT Trans Pacific’s assets on failure to repay debts click here
Rosbank has provided a credit line and guarantees totaling US$100 mln to Russian oil major Tatneft and its petrochemical subsidiary Taneco, as per Ros Business Consulting. The proceeds will go towardss boosting working capital and paying excise tax.
For more details on Rosbank provides credit line and guarantees of US$100 mln to oil major Tatneft and its petrochem subsidiary click here
The Azerbaijan State Committee on Standardisation, Metrology and Patents plans to commission a modern petrochemical laboratory by the end of the year, the State Committee told Trend on Tuesday. The neew lab will be located in the city of Sumgait (35 km from Baku).
For more details on Azerbaijan plans to commission a modern petrochemical laboratory year end click here
The pipeline construction industry continues to make advances. In some regions this is for energy security (oil and gas) and in others water security is the critical issue. Steel pipes are coated inteernally and externally for long-term performance: Applied Market Information (AMI) is organising an international conference on Pipeline Coating in February 2013 in Vienna, to facilitate discussions between global pipeline protection professionals.
For more details on Pipeline construction industry continues to make advances in securing pipeline integrity click here
Keyera Corp. plans to invest US$110 mln on a fractionating tower at its Fort Saskatchewan facility with an aim to fueling Alberta’s petrochemical industry with a new source of ethane, as per fortsaskaatchewanrecord.
For more details on Keyera Corp. to invest US$110 mln on a fractionating tower at Fort Saskatchewan facility click here
Governments’ protective measures have recently moved to the forefront in global polymer markets as Egypt, China, Turkey and India have started to apply or are investigating taking measures on polymer imports in an attempt to protect their local producers, as per ChemOrbis.
For more details on Growing trend towards protectionist measures on polymers click here
Jiutai Energy (Zhungeer) Co., Ltd., a subsidiary of Jiutai Energy Group, has signed a license agreement with Union Carbide Chemicals & Plastics Technology LLC, a wholly owned subsidiary of The Dow Cheemical Company (Dow) for a 350,000 tpa methanol-to-olefin based polypropylene plant.
For more details on Jiutai Energy to License UNIPOL™ Polypropylene Process Technology from Dow click here
European naphtha margins firmed on Monday, buoyed by on-going refinery outages and maintenance season while gasoline came off recent multi-year highs after meeting technical resistance, as per Reuterss.
For more details on Naphtha firms in Europe click here
Russian oil major Rosneft plans to invest 173 bln roubles (US$5.36 bln) to build a petrochemical plant in the Far East, as per CEO Igor Sechin reported by Reuters.
"Today it (the construction) will sstart," Sechin told President Vladimir Putin during a presentation of the project.
For more details on Rosneft to invest US$5.4 bln to build petrochemical plant in Far East click here
