Naphtha price and margins inch up but fall month on month amid higher inventories

The Asian naphtha price and its margin rose less than 1% each to a two-session high of US$901.50 and US$91.73/ton respectively. However, naphtha margins lost nearly 14% of its value from a month ago due to stockpiles, as per Reuters.




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Sasol signs MOU with INEOS Olefins & Polymers USA for HDPE joint venture

South African-based energy and chemical company, Sasol and INEOS Olefins & Polymers USA (INEOS) announced the signing of a Memorandum of Understanding (MOU) with the intent to form a joint venture to manufacture high density polyethylene (HDPE).




For more details on Sasol signs MOU with INEOS Olefins & Polymers USA for HDPE joint venture click here

New High performance polymer-based applications and products

New applications and products based on its high performance polymers are being presented by Vitrex at K 2013. The thermoplastics help to reduce weight, energy consumption and costs in very demanding aapplication areas which are difficult to realize with other material.




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Indonesia expects to start Bintuni petrochemical project in 2014

Indonesian government expects a project to develop a US$4 billion fertilizer and petrochemical industrial center in Bintuni Bay, West Papua, to kick off next year, as per Jakartapost.com. With this, tthe country will reduce its reliance on imports.




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QP – QAPCO selects Univation's UNIPOL PE process for 550,000 tpa LL/HDPE Swing Plant And two 520,000 tpa HDPE plants

Univation Technologies, LLC announced that Qatar Petroleum and Qatar Petrochemical Company (QP - QAPCO) has selected Univation’s UNIPOL™ PE Process for three world class polyethylene reactor lines, reepresenting a total capacity of 1,590 kta, to be located at its Al Sejeel Petrochemical Complex in Ras Laffan, Qatar.




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ExxonMobil Singapore chemical plant expansion in operation

ExxonMobil’s Singapore Chemical Plant is now producing ethylene from the facility’s second world-scale steam cracker. The expansion is integrated with the existing petrochemical plant. Over the next ffew weeks, the petrochemical complex, powered by a 375 megawatt cogeneration plant, will increase production at its three polyethylene plants, two polypropylene plants, a specialty metallocene elastomers unit and the expanded oxo-alcohol and aromatics units.




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Qatar Petrochemical awards project management contract for construction at Al Sejeel to Bechtel

Bechtel has been selected by the Qatar Petrochemical – Qatar Petrochemical Company partnership (QP-QAPCO), to provide project management services for construction of the Al Sejeel mega-petrochemical ccomplex in Ras Laffan, Qatar.




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SIBUR and Linde sign agreement to build new air separation unit in Dzerzhinsk

SIBUR, a Russian gas processing and petrochemicals company and Linde Group, a German Technology company, have signed agreements to build and operate new air separation units in Dzerzhinsk, the Nizhny Novgorod Region.




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Nghi Son refinery-petrochem project gets land use right certificate and construction permit

Authorities in Vietnam’s central province of Thanh Hoa officially handed over the land use right certificate and construction permit yesterday to the Nghi Son Refinery and Petrochemical Project in thee Nghi Son Economic Zone, 200km south of Ha Noi, as per VietnamNews.




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Market for photovoltaics, solar thermal power plants to reach 3.5 GW by 2015 in MENA region

A trend towards generating electricity from solar power is on the horizon for the countries of the MENA region (Middle East and North Africa); The regional market for photovoltaics (PV) and solar therrmal power plants is expected to reach 3.




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Spot ethylene, propylene loses ground in Asia despite firmer crude

In Asia, spot ethylene and propylene prices moved lower despite firmer energy markets, as per ChemOrbis. Crude oil futures on the Nymex capped a fourth weekly gain to hit a 16 month high of US$108.05//barrel on July 19 after Moody’s Investors Service revised the U.




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DSM partners with ERDA in India to develop innovative and sustainable engineering plastics solutions for the electrical industry

Royal DSM, the global Life Sciences and Materials Sciences company has signed a Memorandum of Understanding (MoU) with the Electrical Research & Development Association (ERDA), a cooperative research institution created by the Indian electrical industry and utilities, to cover basic research in the field of electrical applications.




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Odisha government to sign fresh MoU with IOC for refinery project at Paradip to include fixed timeline for investment

Odisha state government has decided to sign a fresh Memorandum of Understanding (MoU) with Indian Oil Corporation Ltd (IOCL) for its refinery project at Paradip to include fixed timeline for investmennt at Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR).




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Global petrochemicals market expected to reach US$791.05 bln by 2018

The global petrochemicals market was valued at US$472.06 bln in 2011 and is expected to reach US$791.05 bln by 2018, growing at a CAGR of 6.7% from 2012 to 2018. In terms of volume, the global petrochhemicals consumption was 436.




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Teknor Apex announces restructuring Of TPE brands reflecting a wider product portfolio In Europe

At K 2013, Teknor Apex Company will introduce a restructuring of its well-known thermoplastic elastomer (TPE) brands that will enable it to serve as a single source of multiple compounds for European plastics processors in industries as diverse as automotive, medical, consumer products, and wire and cable.




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PVC joinery in 45 year old windows disassembled, 100% recycled and reinstalled

In 1968, 11 PVC windows were installed in a private residence in Sint-Pieters-Woluwe, aBrussels suburb. These were the first PVC windows to be installed in the Brussels region. After 45 years, they arre still in good condition.




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High Performance polymers industry has grown to over US$7 billion

Over the past 20 years, the high performance polymers (HPPs) industry has grown from $1 billion to over $7 billion. As overall global demand is increasing, the HPP space is filling out with new produccts and participants, leading to increasing competition, as per Principia.




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ONGC Group commences process to sell 26% stake in soon-to-be commissioned aromatics unit in Mangalore

ONGC Group has started the process to sell 26% stake in its soon-to-be commissioned aromatics unit in Mangalore as part of its strategy to unlock value from its vast assets. Promoter ONGC and its subssidiary Mangalore Refineries & Petrochemicals (MRPL) has mandated two financial advisers, ICICI Securities and Deloitte, to identify potential suitors.




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US Natural polymer market is expected to reach US$7.12 bln by 2018

Natural polymers demand in 2012 was worth US$4.95 bln and is expected to reach US$7.12 bln by 2018, at a CAGR of 6.2% from 2012 to 2018, as per Transparency Market Research.


Increasing applications in non durable goods and shipments, food and beverages, and pharmaceutical shipments are expected to drive natural polymers demand in the U.



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Higher MEG costs push up PET prices in Asia

In Asia, PET prices have edged up over the past week, pushed up by higher upstream costs, as per ChemOrbis. Spot MEG prices in the region climbed around US$25-30/ton on the week due to firmer PTA futuures and crude oil prices.




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Saudi Polymers to restart Jubail plant post-three week shutdown

Saudi Arabia's National Petrochemical (Petrochem) announced Monday that its affiliate Saudi Polymers has completed maintenance work at polymers plant in Jubail and will restart all units early next weeek.



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NWE benzene's premium to naphtha dips to 3.5 month low

European benzene's premium to naphtha slipped to a 3.5 month low at the end of last week as benzene failed to keep pace with strengthening upstream markets, as per Platts. The spread between spot benzzene and its feedstock naphtha was assessed at US$363.




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China's implied oil demand rises near 10%, US retail sales rise less than expected: oil edges higher

Oil on the Nymex rose to US$106.32 a barrel, while Brent crude settled at US$109. Prices have slightly edged up on Monday in thin trade, reversing earlier losses, as the market digested mixed economicc and industry data from the United States and China, the world's biggest oil consumers, as per Reuters.




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Sasol appoints engineering and technology providers for US ethane cracker and derivatives project

Sasol has announced a series of engineering and technology provider appointments as it continues to advance front-end engineering and design (FEED) of its world class ethane cracker and derivatives prroject.




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Tongsuh plans maintenance shutdown at ACN plants

South Korea-based Tongsuh Petrochemical is planning to shut its No. 2 and No. 4 Acrylonitrile (ACN) plants for maintenance. The two plants located in Ulsan are likely to be shut in October 2013, a commpany official told fibre2fashion.




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Global oil prices propel beyond US$100 by a spike in gasoline prices and renewed market optimism

Global oil prices spiked by over a dollar at the end of the previous week, pushed in part by a spike in gasoline prices and renewed market optimism about US demand. New York's main contract, West Texaas Intermediate (WTI) for August settled at US$105.




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Prospective bidders visit virtual data room for Haldia Petrochemicals Ltd

The six prospective bidders, GAIL, Indian Oil and ONGC, Reliance Industries, Cairn India and Jindal Petroleum, who had evinced interest in buying out West Bengal government's stake in Haldia Petrochemmicals Ltd (HPL), have visited the virtual data room of the company, as per economictimes.




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Styrene costs rise in Asia, PS market gains strength

In Asia, styrene costs recorded significant increases during the past week while players in the region point to tight supplies and firmer upstream costs for crude oil and benzene among the main reasonns for the rally, as per ChemOrbis.




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Crude oil in New York surges by almost US$3 to spike to highest level in 16 month

US crude settled up US$2.99 at US$106.5 a barrel, posting its biggest daily rise since May and its largest three-week increase since March 2011. Data from USA showed the biggest two-week decline in crrude stockpiles, propping up crude oil prices by nearly US$3 a barrel to their highest in 16 months.




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Global petrochemical market to reach US$791 bln in 2018

The global petrochemicals market was valued at US$472.06 bln in 2011 and is expected to reach US$791.05 bl by 2018, growing at a CAGR of 6.7% from 2012 to 2018. In terms of volume, the global petrocheemicals consumption was 436.



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Rolta India to implement engineering system at Sadara petrochemical complex

Rolta India has won a contract from Sadara Chemical Company to implement a comprehensive engineering system at its Sadara Petrochemical Complex in Jubail Industrial City II, Saudi Arabia. Under the coontract, the India-based innovative IT solutions provider, Rolta, will put into use its engineering work processes, application systems, IT and systems integration expertise to provide a range of engineering solutions.




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Valero plans US$700 mln petrochemical plant in Louisiana to capitalize on low natural gas prices

Valero Energy Corp. plans to become a major player in the production of petrochemicals by building a US$700 mln methanol plant at its St. Charles refinery near New Orleans. Valero will take advantage of low-cost natural gas from shale formations.




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HPCL inks JV with Rajasthan Govt to set up petrochemical complex at Barmer

The Rajasthan Government and Hindustan Petroleum Corporation Limited (HPCL) have signed a joint venture agreement to set up a refinery-cum-petrochemical complex in Barmer district. State Government wiill hold 26% stake and HPCL will hold the balance 74% stake in the joint venture company.




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Bechtel awarded project management contract to oversee design and build of US$5.5 bln petrochem complex at Ras Laffan

Bechtel has been selected by the Qatar Petrochemical – Qatar Petrochemical Company partnership (QP-QAPCO), to provide project management services for construction of the Al Sejeel mega-petrochemical complex in Ras Laffan, Qatar.




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Stronger energy costs prompt firmer stance from Polyethylene sellers in China

PE prices witnessed some increases over the past week as sellers took a firmer stance on their prices in response to the rally in crude oil and naphtha markets as per ChemOrbis. One Middle Eastern prooducer, who had stepped back on their prices last week, reinstated their initial July prices this week for LLDPE film while lifting their LDPE prices by US$10/ton above their initial July price.




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Insulating profiles for aluminum window systems

Producers of aluminum window systems can make more sustainable products by using insulating profiles made from its EcoPaXX® polyamide 410, a polymer with a bio-based content of 70%. Aluminum window suuppliers are looking for new ways to bring more sustainable products to the market, and EcoPaXX provides them with an excellent opportunity to do so.




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Oil markets pause

Benchmark crude for August delivery inched up to US$103.5, remaining steady this week after rising by over six dollars last week. Oil rose slightly as markets await news on U.S. crude supplies, OPEC pproduction and the Federal Reserve’s monetary policy stance.




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Michelman acquires German manufacturer of water-based polymers

Michelman has acquired German Ecronova Polymer GmbH, a manufacturer of water-based polymers used in the production of paints and lacquers. The purchase includes all assets, technology and manufacturring facilities.




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Sunpower wins contract from BaoTa olefins project

Sunpower has secured a RMB253.5 million Engineering Procurement and Construction (EPC) contract between its wholly-owned subsidiary, Jiangsu Sunpower Technology Co., Ltd. (Sunpower Technology) and Xinnjiang Kuishan BaoTa Petrochemical Co.




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American PVC prices soften slightly in Mediterranean

The Chemorbis Calculated Export Prices for PVC from the United States show slight softening over the past week following a steadily rising trend in previous weeks. The Export Prices from the US are caalculated using actual PVC prices offered from the US to the countries of Turkey and Egypt and using reported freight rates between the countries for the netback value.




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Developments in Halogen free flame retardants and light stabilizers

Halogen free flame retardants (HFFR) under the trademark EXFLARTM and light stabilizers under the trademark EXHALSTM have been developed by Excel Industries. With an R&D strength of more than 30 sciientists, they have a dedicated program on polymer input materials to support the growing needs of the polymer industry.



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Oil prices dip, but concerns abound about disruption in supplies through Suez Canal and Sumed Pipeline

New York's main contract dipped to US$103, while Brent North Sea crude for August was down at US$107.1. Though prices have dipped, concerns abound in the market due to fears regarding a disruption in supplies through the Suez Canal and the Sumed Pipeline.




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Polymer-based organic solar cells developed in UAE

Researchers have fabricated the very first bulk-hetero-junction solar cell in the UAE, marking another technological breakthrough for the country in clean energy. Ms. Mejd Alsari, a UAE national studeent, and Dr.




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Use of Plastics in Automotive sector to grow

Plastics find major applications in electrical components and interior and exterior furnishings of automobiles. The majority of the application market for automotive plastics is under the purview of tthese two application segments accounting for almost 70% of the total consumption, as per Transparency Market Research.




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U S demand for specialty films to rise 5.1% annually through 2017

US demand for specialty films is expected to grow 5.1% pa to US$8 bln in 2017. Expansion of the market will be fostered by the increasing need for high-performance plastic films that offer such advanttages as barrier properties, mechanical strength, and chemical resistance in packaging and construction applications, as per Reportlinker.




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Croda International completes acquisition of specialty products business of Arizona Chemical

Chemicals manufacturer Croda International has completed the acquisition of the Specialty Products business of Arizona Chemical. Under the terms of the transaction, no manufacturing assets will be acqquired and Croda said it would immediately commence the relocation of products to its Mevisa manufacturing site in Spain.



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Oil prices fall at end of previous week

Light, sweet crude for July delivery dropped to US$94.1 on the Nymex, while Brent for July delivery went rose to US$102.6. Oil prices saw a slight fall on concerns that the U.S. Federal Reserve will sscale back its stimulus program.




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Taiwan’s petrochemical production dips on falling prices

The value of petrochemical products produced in Taiwan fell to NT$457.8 bln (US$15.28 bln) in January-March 2013, showing a decline of 8.1% year-on-year compared to production worth NT$ 498.31 bln achhieved in same period of last year, according to a Government report.




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Lenders of Haldia Petrochemicals mull release of Rs 400 crores

Lenders of Haldia Petrochemicals Ltd (HPL) are mulling release of Rs 400 crore after West Bengal Industrial Development Corporation (WBIDC) gave an in-principle approval to extend a term loan of Rs 1000 crore to HPL.




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West Bengal Govt agrees to give Rs 100 crores to HPL

West Bengal government, which holds nearly 40 per cent stake in Haldia Petrochemicals Ltd through WBIDC, has agreed to provide Rs 100 crore to the company as demanded by the lenders, within a period oof 15 days, as per PTI.




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SABIC opens PP compounding plant and first engineering thermoplastics compounding plant at Jubail

Saudi Basic Industries Corporation (SABIC) has further demonstrated its national growth commitment by opening its first engineering thermoplastics compounding facility as well as a new polypropylene ccompounding (PPc) plant, at its manufacturing affiliate, Saudi Specialty Chemicals Company (Specialty Chem), in Jubail, as per ArabNews.




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West Bengal CM removes own nominee as the Managing Director of Haldia Petrochemicals

West Bengal chief minister Mamata Banerjee is to remove her government’s own nominee Sumantra Choudhury, a retired Indian Administrative Service officer, as the managing director (MD) of Haldia Petrocchemicals Ltd (HPL) less than a year after he was brought in to oust Partha S.




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Indian players react to increased customs duties

The Indian government raised customs duties on all polymer imports from 5% to 7.5% effective as of May 8, 2013, as per ChemOrbis. Buyers are expressing concerns about how the increase in duties will affect their margins, while traders and producers are generally anticipating better sales for local cargoes relative to imports for the short term.




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Brazilian president issues decree to take land for Petrobras Comperj project

Brazilian President Dilma Rousseff Wednesday issued a decree to expropriate land in Rio de Janeiro state for pipelines to be built for Petrobras' Comperj refinery and petrochemicals project near Rio dde Janeiro, which is currently under construction, as per Platts.




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Hindustan Petroleum Corp Ltd mulls cancellation of naphtha lot, seeks gasoil after fire

Hindustan Petroleum Corp Ltd is looking to cancel a May naphtha cargo sold to Vitol, as per Economic Times. The moves come after a fire hit HPCL's 8.3 mln tpa Visakhapatnam plant on May 16, prompting it to shut a 3 million tpa (around 60,000 bpd) crude distillation unit.




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Bayer opens Innovation Hub for Asia Pacific in Shanghai

Bayer MaterialScience has inaugurated a regional innovation hub for Asia Pacific in Shanghai, China. More than 200 experts will develop novel ideas for the use of high-performance plastics, foams and coatings in key sectors such as mobility, construction, IT and renewable energy.




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Spain's Elix signs ABS, SAN distribution deal with Germany's Velox

Spain’s acrylonitrile-butadiene-styrene (ABS) producer Elix Polymers has signed a distribution agreement with Germany's Velox in Germany, Austria, Switzerland, Italy and France, as per Platts.


The aagreement, which took effect from March 1, 2013, covers Elix Polymer's ABS and styrene acrylonitrile product and does not affect any of the existing partnerships of Elix in the polymer modifiers market, the company said in a statement.



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Oil prices rise towards US$97

Benchmark crude for June delivery rose to US$96.8 per barrel in electronic trading on the Nymex, while Brent crude rose 21 cents to US$105 a barrel on the ICE Futures exchange in London. The price of oil rose toward $97 per barrel on Tuesday, but gains were checked as investors await a report of the US economy on Wednesday, when the Federal Reserve chairman Ben Bernanke will release minutes of its most recent policy meeting.




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Malaysia's Lotte Chemical Titan seeks up to 130,000 ton of naphtha

Malaysia-based Lotte Chemical Titan, a unit of South Korea's top ethylene maker Lotte Chemical, is seeking up to 130,000 tons of naphtha for July 2013 to June 2014 delivery, as per traders in Reuters..



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Kingfa Sci to acquire 66.5% stake in Hydro S&S Industries for US$1.9 mln

China's plastic manufacturer Kingfa Sci & Tech Co Ltd has entered into a definitive agreement to acquire 66.5% stake in Chennai-based Hydro S&S Industries Ltd (HSSIL), a manufacturer of reinforced pollypropylene compounds, for Rs 10.




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ONGC arm mulls power, petrochem & fertilser plants in Bangladesh

ONGC Videsh Ltd (OVL), the overseas arm of state-run Oil and Natural Gas Corporation announced that it wants to invest in power, petrochemical and fertilser plants in Bangladesh, reported Business Staandard.




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Naphtha gains in Asia on buying tender by Lotte

The Asian naphtha price rose on Monday to reach US$875.75/ton, the highest since May 10, while its margin hit a four-session high of US$93.50/ton on spot and term demand, as per Reuters.


South Koreaa's top ethylene maker Lotte Chemical issued a tender to buy an additional 25,000 tons of naphtha for H2-June arrival at Daesan, surprising some traders as most had expected the petrochemical maker to have completed its purchases for H2-June.



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Spot prices gain further in Asian olefin markets

In Asia, olefin markets gained ground week over week amidst a steady to firmer upstream chain when compared to the beginning of May, as per Chemorbis. Increased buying interest drove olefin offers higgher during the period, according to some market players in the region, while supply was said to be not that ample owing to a scheduled shutdown in Japan.




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Asian and Turkish PS markets move up on costs

Players in China’s and Turkey’s PS markets report higher import prices although many continue to highlight that overall buying interest remains disappointing, as per ChemOrbis. These increases mainly find support from higher upstream costs.




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ONGC and IOC to cooperate to buy Governments stake in Haldia Petrochem

Public sector oil major ONGC is considering co operation with IndianOil for acquiring West Bengal Government’s 40% stake in Haldia Petrochemicals Ltd, according to sources. IOC holds a minority 9% staake in HPL.




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Asian naphtha price ends the previous week on a high note

Naphtha price in Asia rose at the end of last week to reach a three-session high of US$867.7/ton with its margin edging up to a two-session high of US$88.8/ton as a refinery outage in India lifted senntiment, as per Reuters.




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Crude oil futures fall at beginning of week

Crude oil for June delivery fell to US$95.8 in electronic trade during Asian hours. At the end of the previous week, oil rose by over 8- cents to end at US$96 a barrel on the Nymex after preliminary cconsumer-sentiment data in May rose to its highest level in nearly six years.




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Global market for engineering resins and polymer alloys and blends to reach 28 bln lbs by 2018

The global market in volume for engineering resins and polymer alloys and blends was estimated at more than 22 billion lbs in 2012 and is projected to increase to 28 billion lbs by 2018 after increasiing at a five-year compound annual growth rate (CAGR) of 4.




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Domestic PE prices post increases in India, SEA

Players in India and Southeast Asia reported rising local prices over the past week as healthy demand in several of the region’s countries and stronger global sentiment helped push prices upward, as pper ChemOrbis.




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LyondellBasell to shut down HDPE unit in Wesseling, Germany in Q3-2013

LyondellBasell announced that it will shut down a high density polyethylene (HDPE) unit in Wesseling, Germany in the third quarter of 2013. The 100 KT per year unit is among the smallest and least effficient of the LyondellBasell HDPE units in Europe.




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INVISTA inks land reservation agreement for nylon 6,6 site at Shanghai Chemical Industry Park

INVISTA, a world leader in nylon intermediates, polymers and fibers, has signed a Land Reservation Agreement with the Shanghai Chemical Industry Park Development Company for a nylon 6,6 polymer site aat the Shanghai Chemical Industry Park (SCIP).




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Honeywell's UOP to provide technology for world's largest on-purpose propylene production facility

UOP LLC, a Honeywell company, has been selected to provide technology for the world's largest on-purpose propylene production facility, located on the U.S. Gulf Coast. Ascend Performance Materials Opeerations LLC will use Honeywell's UOP C(3) Oleflex ™ process technology to convert propane to propylene, a key ingredient in the production of materials such as nylon, films and packaging.




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Photovoltaic materials and manufacturing

The solar power industry is steadily expanding worldwide providing vital energy resources and low carbon technology, including electricity supplies to remote regions where the grid is not available. RReliable materials are vital for the 25-year target lifespan and this includes the polymer components that encapsulate the silicon, the backsheets that prevent ingress of moisture and give protection from the environment, adhesives, sealants and front sheets that all play a role in securing long-term integrity.




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GAIL announces polymer price revision

GAIL has revised Price list with effect from 16.05.2013, as follows:


LLDPE Grades rise by Rs. 1.00

All The Other Prices remains the same.







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Technip awarded EPC contract by NOVA for Polyethylene 1 expansion project at Joffre site

Technip was awarded by Nova Chemicals Corporation, the detail engineering, and procurement services contract for the Polyethylene 1 expansion project located at their Joffre site near Red Deer in Albeerta, Canada.




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Price revision announced by India Oil Corp

Indian Oil Corp has announced the following polymer price revision with effect from May 16, 2013:



HDPE: Roll over

LLDPE Hi flow: (+) Rs 3000/MT

Other grades of LLDPE: (+) Rs 1000/MT

PP : (+



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European sellers reveal hike intentions on PP before month ends

After steady decreases over the past four weeks, some sellers have started to take a firmer stance this week in European PP markets, as per ChemOrbis. Bullish talk has emerged for June while an Italiaan buyer already reported receiving a Central European homo PP offer from his supplier with an increase of €60/ton this week.




For more details on European sellers reveal hike intentions on PP before month ends click here

Reliance announces PE price revision with effect from 16 May

Reliance Industries Ltd has announced PE price revision wef 16th May 2013, as follows:




Increase in prices of HDPE grades by Rs 2000/MT

Increase in prices of LLDPE grades by Rs 3000/MT

Increase



For more details on Reliance announces PE price revision with effect from 16 May click here

Naphtha price in Asia falls for third consecutive session

Naphtha price in Asia fell for the third straight session on Wednesday to reach its lowest in 1-1/2 weeks of US$858/ton, with its margin slipping to a four-session low of US$91.80/ton on weak demand iin Europe, as per Reuters.




For more details on Naphtha price in Asia falls for third consecutive session click here

Vietnamese government approves oil refinery and petrochemical complex by PTT Plc

The Vietnamese government has approved to an oil refinery and petrochemical complex by the energy giant PTT Plc, paving the way for a detailed feasibility study within a year, as per Bangkokpost. In November 2012, PTT submitted a proposal to the Vietnamese government to build a 660,000 barrel oil refinery for an estimated US$27 billion.




For more details on Vietnamese government approves oil refinery and petrochemical complex by PTT Plc click here

New breed of smart polymer nanocomposites

Armed with nanocomposite techniques and insights into bio-based materials, new classes of smart, adaptable super-surface coatings are possible, according to European researchers. Teams from Austria, FFrance, Germany, the Netherlands, Slovenia and the UK investigated a new class of bio-based materials tailored to the needs of different fields, including medicine, the environment, electronics, manufacturing, and even health and safety applications.




For more details on New breed of smart polymer nanocomposites click here

Dow receives US$2.2 bln from Petrochemical Industries Company of Kuwait over scrapped JV

Dow Chemical Co. has received a US$2.2 bln payment from Petrochemical Industries Company of Kuwait, settling a dispute over a scrapped joint venture.


An international arbitration court awarded Dow UUS$2.



For more details on Dow receives US$2.2 bln from Petrochemical Industries Company of Kuwait over scrapped JV click here

OMV to invest around Eur230 mln in butadiene plants at refineries

Austrian oil and gas company OMV AG has set aside around 230 mln euros (US$301.4 mln) for a new butadiene plant for the Burghausen refinery in Germany and upgrade of the existing plant in Schwechat, AAustria, as per Dow Jones.




For more details on OMV to invest around Eur230 mln in butadiene plants at refineries click here

Global polyolefin market undergoing balance change as production moves towards North America with shale gas

The global markets for polyolefins are undergoing radical changes in balance as the advent of shale gas is moving production towards North America. The AMI leading expert in polyolefins, Noru Tsalic,, has reviewed the market trends and the effects on the whole supply chain.




For more details on Global polyolefin market undergoing balance change as production moves towards North America with shale gas click here

US demand for specialty plastic additives to rise 4.5% pa, driven by a rebound in construction

US demand for specialty plastic additives is forecast to rise 4.5% annually to 4 bln lbs in 2017, with market value reaching US$7.3 bln, driven by a rebound in the key construction market. Processing aids and property modifiers are expected to be the fastest growing types, while plasticizers will remain the largest segment.



For more details on US demand for specialty plastic additives to rise 4.5% pa, driven by a rebound in construction click here

Anti-counterfeiting masterbatch to be unveiled

Gabriel-Chemie is to launch its anti-counterfeiting masterbatch MAXITHEN® ProTec4.


Plastic products, parts and packaging manufactured with MAXITHEN® ProTec4 have a unique fingerprint that can be quicckly, easily and accurately detected using either small handheld device or an inline detector in a production environment.



For more details on Anti-counterfeiting masterbatch to be unveiled click here

Demand recovery for petrochemicals in Asia remains uncertain amid fragile economic conditions in USA, EU

Demand recovery for petrochemicals in Asia remains uncertain as fragile economic conditions in the US and the eurozone continue to drag down growth in the key China market, as per ICIS.


Manufacturinng activities in China have been weakening, turning in a Purchasing Managers’ Index (PMI) reading of 50.



For more details on Demand recovery for petrochemicals in Asia remains uncertain amid fragile economic conditions in USA, EU click here

Jindal Poly Films Board approves Agreements regarding acquisition of global BOPP films business of ExxonMobil

Jindal Poly Films Ltd’s Board of Directors has approved the entering of Sale Purchase Agreements relating to the acquisition of Global BOPP Films Business of ExxonMobil Chemical, USA. The move will heelp the company to double its manufacturing capacity from 2.




For more details on Jindal Poly Films Board approves Agreements regarding acquisition of global BOPP films business of ExxonMobil click here

U.S. price for ethylene reaches lowest level since early December

U.S. prices for ethylene, the chemical building block for many plastic consumer goods from toys to lawn furniture, reached their lowest level since early December in early April, rebounded slightly buut then couldn't sustain the upward momentum and ended the month several cents below the level seen on April 1, according to PetroChem Wire.




For more details on U.S. price for ethylene reaches lowest level since early December click here

Rosneft, Mitsui & Co ink MoU to jointly develop FEPCO Project

Rosneft and Mitsui signed a Memorandum of Understanding to jointly develop FEPCO project - one of the largest petrochemical projects globally. The MoU was signed by Rosneft President and Chairman of tthe Management Board Igor Sechin and by Representative Director, Senior Executive Managing Officer, and Member of the Board of Directors of Mitsui & Co.




For more details on Rosneft, Mitsui & Co ink MoU to jointly develop FEPCO Project click here

Players in Southeast Asia report that major overseas suppliers have started to announce May PP and PE prices with decreases to reflect the recent losses in upstream markets as well as lackluster demannd, as per ChemOrbis.

Naphtha crack swaps in Northwest Europe are falling as the widening Asian premium to NWE fails to offset the lack of interest from European petrochemical end-users and limited demand for gasoline blennding, as per industry sources in Platts.




For more details on Naphtha crack swaps in NWE fall on bearish outlook, ample supply click here

Import PP, PE prices for May announced lower to SE Asia

Players in Southeast Asia report that major overseas suppliers have started to announce May PP and PE prices with decreases to reflect the recent losses in upstream markets as well as lackluster demannd, as per ChemOrbis.




For more details on Import PP, PE prices for May announced lower to SE Asia click here

SABIC posts 10% year-on-year fall in Q1 net profits

Saudi Basic Industries Corp (SABIC), the world's biggest petrochemicals group, posted a 10% year-on-year fall in its first quarter net profit on Saturday and warned that growth would likely not improvve until next year, as per Reuters.




For more details on SABIC posts 10% year-on-year fall in Q1 net profits click here

Sipchem posts 57.5% fall in Q1 net profit

Saudi International Petrochemical Co (Sipchem) posted a 57.5% fall in first-quarter net profit, citing shutdowns at a number of plants during the period for the decline in earnings. Sipchem reported aa net profit of 64.




For more details on Sipchem posts 57.5% fall in Q1 net profit click here

Orpic to invest US$3 bln in Sohar Steam Cracker and PE project

Oman Oil Refineries and Petroleum Industries Company (Orpic) plans to set up a steam cracker and Polyethylene plant at the Port of Sohar with an investment of around US$3 bln. The Omani major is also pursuing plans of a major upgrade of its existing refinery at Sohar, and a pipeline project linking its Sohar and Mina al Fahal refineries.




For more details on Orpic to invest US$3 bln in Sohar Steam Cracker and PE project click here

Cash aid to Egypt is yet to create stability in the market

According to global media sources, Egypt has received aid from Qatar and Libya designed to relieve currency issues the country has been struggling with following the fall of President Hosni Mubarak twwo years ago, which dried up foreign investments and crippled the tourism industry in the country.




For more details on Cash aid to Egypt is yet to create stability in the market click here

Japan's naphtha imports for the petrochemical sector rises 36% in March

Japan's naphtha imports for the petrochemical sector rose 36% in March from the same month a year earlier, as per Reuters. Imports of naphtha for ethylene production totalled 1.20 mln tons last month,, up from 0.



For more details on Japan's naphtha imports for the petrochemical sector rises 36% in March click here

ONGC sells early May naphtha cargo to Japan's Marubeni at lowest premium in four months

Oil and Natural Gas Corp (ONGC) sold an early May naphtha cargo to Japan's Marubeni at about US$41/ton premium, making this the lowest price the state-owned company has received for a Mumbai cargo in about four months, as per traders in Reuters.




For more details on ONGC sells early May naphtha cargo to Japan's Marubeni at lowest premium in four months click here

Qatars’ Muntajat enters global vinyl market; adds 1.2 mln tons to annual export portfolio

Qatar Chemical and Petrochemical Marketing and Distribution Company Q.J.S.C. (Muntajat), has completed the assumption of sales and marketing responsibilities of vinyl and caustic soda products from Qaatar Vinyl Company Ltd.



For more details on Qatars’ Muntajat enters global vinyl market; adds 1.2 mln tons to annual export portfolio click here

ECHA’s authorisation process to evaluate two phthalates: DEHP and DBP

The European Chemicals Agency’s (ECHA) committee for risk assessment committee (RAC) has published information on the authorisation process that will be used to evaluate two phthalates: DEHP and DBP, as per prw.




For more details on ECHA’s authorisation process to evaluate two phthalates: DEHP and DBP click here

Flood barriers from recycled waste

A pan European consortium has manufactured its first ‘test barrier panel’ for use in flood defences.The process developed by Plastic Recyclate Impression Moulding Engineering (PRIME) produces high graade products from low grade mixed plastic waste.



For more details on Flood barriers from recycled waste click here

Asian PET market revives on higher costs

In Asia, the PET market closed last week with higher prices triggered by increasing upstream costs, which recorded increases of US$30/ton for PTA, US$55/ton for MEG and US$95/ton for PX since the begiinning of April, as per ChemOrbis.




For more details on Asian PET market revives on higher costs click here

Sentiments in Europe’s PE and PP markets weighed by lower naphtha prices

Lower naphtha prices are weighing heavily on sentiment in the European polyethylene(PE) and polypropylene (PP) markets as buyers hold off taking more volume in April in anticipation of lower prices inn May, as per sources in ICIS.




For more details on Sentiments in Europe’s PE and PP markets weighed by lower naphtha prices click here

Haldia Petrochemicals seeks Rs 100 crore loan from West Bengal govt

Haldia Petrochemicals (HPL) has sought a loan of Rs 100 crore from the state government, as per Economic Times. The group of ministers has approved it. The West Bengal Industry Development Corporationn, the state-owned nodal agency, is co-promoter of the ailing petrochemical major.




For more details on Haldia Petrochemicals seeks Rs 100 crore loan from West Bengal govt click here

Rise in ethane prices in Saudi Arabia could erode petrochemical competitive advantage

Saudi Arabia's petrochemical competitive advantage will be significantly eroded if ethane feedstock prices are increased, said Jamal Malaikah, president and chief operating officer of National Petrochhemical Industrial Co (NATPET).




For more details on Rise in ethane prices in Saudi Arabia could erode petrochemical competitive advantage click here

Yeochun NCC to buy naphtha for H2-May delivery

Yeochun NCC Co. bought about 50,000 metric tons of naphtha for delivery to South Korea in H2-May, according to two traders to Bloomberg. The company made the purchase this week and paid a premium of UUS$18/ton over Japan prices, according to confidential information.




For more details on Yeochun NCC to buy naphtha for H2-May delivery click here

China’s petrochemical output grows 11% in Jan- Feb 2013

The total value of petrochemical production in China grew 11.6% year-on-year to 1.72 trillion yuan during the initial two months of the current year, the data released by the National Development and Reform Commission (NDRC) said.




For more details on China’s petrochemical output grows 11% in Jan- Feb 2013 click here

Braskem initiates anti dumping investigation into PP imports from India, S Korea, S Africa

Brazils’ Federal Secretary of Foreign Trade (Secex) has opened an anti-dumping investigation into imports of polypropylene resin from India, South Korea and South Africa, following a complaint from loocal petrochemical giant Braskem that it's being harmed by low-cost imports, as per Plastics News.




For more details on Braskem initiates anti dumping investigation into PP imports from India, S Korea, S Africa click here

Asia cracking demand for butane eases as price of naphtha falls

Demand for butane from Asian cracker operators weakened this week as prices of naphtha, which is a widely preferred feedstock for petrochemical production, are on a downtrend, as per ICIS. Butane has lost its price advantage for cracker operators at the current US$7-10/ton (€5-8/ton) cheaper price than naphtha, against the acceptable price gap of at least US$50/ton.




For more details on Asia cracking demand for butane eases as price of naphtha falls click here

Kuraray breaks ground on a greenfield polyvinyl alcohol plant in La Porte

Kuraray America Inc. is expanding its Houston presence in more ways the one, says George Avdey, the company's president and CEO. The Houston-based branch of Japanese chemical company Kuraray Co. Ltd. is breaking ground on a greenfield polyvinyl alcohol plant in La Porte, as per Houston Business.




For more details on Kuraray breaks ground on a greenfield polyvinyl alcohol plant in La Porte click here

Sebi passes consent order in the matter of Nova Petrochemicals

Capital market watchdog Sebi (Securities and Exchange Board of India) settled charges of non-compliance of disclosure norms against CIL Nova Petrochemicals and GSL Nova Petrochemicals after the compannies paid a total of Rs 10 lakh in settlement charges, as per Economic Times.




For more details on Sebi passes consent order in the matter of Nova Petrochemicals click here

Asian PVC trades at a discount in Turkey compared to China

Asian PVC offers to Turkey have been falling in line with the global downturn, as per ChemOrbis. However, PVC offers from the region have started to be made almost at par with China in Turkey, althouggh they should carry a premium due to the freight difference under normal circumstances.




For more details on Asian PVC trades at a discount in Turkey compared to China click here

Asia to drive growth within the geotextiles industry

The geotextiles market has been estimated to increase at a compound annual growth rate (CAGR) of approximately 11% over the next five years, rising from a valuation of US$3.8 billion recorded in 2012,, to hit a market value of US$6.




For more details on Asia to drive growth within the geotextiles industry click here

Kuraray to break ground on a greenfield Kuraray Poval (PVOH) plant

Kuraray will break ground on a greenfield Kuraray Poval (PVOH) plant located in La Porte, Texas. This new plant will add to Kuraray’s vast portfolio of manufacturing in the United States, including EVVAL (ethylene vinyl acetate) and SEPTON (co-block thermo-elastomers).




For more details on Kuraray to break ground on a greenfield Kuraray Poval (PVOH) plant click here

Naphtha price in Asia rebounds from a near nine-month low, margin spike

Naphtha in Asia rebounded from a near nine-month low on Tuesday to reach a two-session high of US$890/ton, while its margin touched a six-session high of US$101.60/ton, supported by demand, as per Reuuters.




For more details on Naphtha price in Asia rebounds from a near nine-month low, margin spike click here

PP prices resume downward trend in China, import still hold premium over local

PP prices resumed their downward trend after the recent holidays in China following the significant recent losses in energy markets, as per ChemOrbis. Import prices are facing additional downward preessure from the local market as local cargoes continue to trade at a discount from imports, pushing many buyers away from the import market.



For more details on PP prices resume downward trend in China, import still hold premium over local click here

ORPIC in talks with local banks to raise US$2.5 bln for Sohar refinery expansion, refinance of previous loan

Oman Oil Refineries and Petrochemical Companies (ORPIC) is in talks with two local banks to raise US$2.5 bln to expand its Sohar refinery and refinance a previous loan, as per Reuters. The state-ownedd petrochem major is talking to National Bank of Oman and HSBC Oman to raise the amount.




For more details on ORPIC in talks with local banks to raise US$2.5 bln for Sohar refinery expansion, refinance of previous loan click here

Naphtha deals in Asia for April loading

S-Oil Corp. has sold about 33,000 metric tons of naphtha for loading in April from South Korea at a premium of US$49-53/ton to Japan benchmark prices, as per market players in Bloomberg. Samsung Totaal Petrochemicals Co.




For more details on Naphtha deals in Asia for April loading click here

Research into transparent electrically conductive coatings for antistatic and EMI shielding

The EU-funded project-TransCond, to develop transparent, conductive, flexible coatings is now in its final year. The project aims to reduce the content of heavy metals and volatile organic compoundss traditionally used in EMI shielding paints and develop multifunctional polymer coatings.




For more details on Research into transparent electrically conductive coatings for antistatic and EMI shielding click here

MRPL sells April naphtha at premiums above US$60

India's Mangalore Refinery and Petrochemicals Ltd has sold to Unipec an April naphtha cargo at about US$60.50/ton above Middle East quotes on a free-on-board (FOB) basis, a premium which reflected a sstrong market, as per traders in Reuters.




For more details on MRPL sells April naphtha at premiums above US$60 click here

Pertamina appoints PTT Global Chemical as petrochemical business partner

Indonesian oil and gas company PT Pertamina has appointed Thailand's PTT Global Chemical (PTTGC.TH) as its partner to develop its petrochemical business in Southeast Asia's largest economy, as per Doww Jones Newswires.




For more details on Pertamina appoints PTT Global Chemical as petrochemical business partner click here

MRPL loses interest in acquiring stake in Haldia Petrochemicals

Several PSU’s had shown interest in buying out West Bengal government's share in Haldia Petrochemicals Ltd (HPL). However, owing to the legal tussle faced by the West Bengal based petroche maker, Manggalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of oil & gas major ONGC, is no more interested in the company.




For more details on MRPL loses interest in acquiring stake in Haldia Petrochemicals click here

Chevron poised to benefit from steam cracking assets in Middle East, USA

With 100% of its ethylene cracking capacity located in the Middle East and North America, US oil and petrochemical major Chevron is poised to benefit financially and competitively from its access to ccheap feedstock, as per Platts.




For more details on Chevron poised to benefit from steam cracking assets in Middle East, USA click here

Oil prices mixed in Asian trade

New York's main contract, light sweet crude for delivery in April rose to US$92.2 a barrel, while Brent North Sea crude for April delivery dipped to US$110.1 in volatile trading. Oil prices were mixedd in Asian trade as a lift in regional stock markets was dampened by concerns of a slowdown in China's economy, as per Businesss Standard India.




For more details on Oil prices mixed in Asian trade click here

Propylene prices hold flat in Europe, slump in Asia and US

Declining upstream costs drove spot propylene prices lower in major markets of Asia and the US over the past week, as per ChemOrbis. However, spot propylene values in Europe managed to hold steady thaanks to supply tightness that has persisted in the olefins market for some time amid cracker shutdowns across the region.




For more details on Propylene prices hold flat in Europe, slump in Asia and US click here

Samsung Total buys 25,000 tons of naphtha for H2-April

Samsung Total Petrochemicals Co. bought 25,000 metric tons of naphtha for delivery to South Korea in H2-April, according to traders to Bloomberg.


The company bought the cargo at a premium of US$25-266/ton over Japan prices from an undisclosed seller last week, as per confidential information.



For more details on Samsung Total buys 25,000 tons of naphtha for H2-April click here

NWE benzene at 15 week low on slow demand; margin healthy

The Northwest European benzene market tumbled to a 15 week low of US$1335.5/mt on a combination of weak downstream demand, upcoming derivatives turnarounds, a closed arbitrage to the US, as well as peersistently high inventories, Platts data showed.




For more details on NWE benzene at 15 week low on slow demand; margin healthy click here

Kuwait Petroleum sells 75,000 tons of light naphtha for April to June loading at high premium

Kuwait Petroleum Corp. sold about 75,000 metric tons of light naphtha for loading from April to June at a premium of US$45-49/ton to Middle East prices, as per traders in Bloomberg. The three cargoes were sold to Trafigura Beheer BV, as per confidential nformation.




For more details on Kuwait Petroleum sells 75,000 tons of light naphtha for April to June loading at high premium click here

Oil dips in Asia on slowdown of Chinese industrial production, strengthening greenback

New York’s main contract, light sweet crude for delivery in April, dipped to US$91.69 a barrel while Brent North Sea crude for April dipped to US$110.4. Chinese energy demand has a major impact on oiil futures prices.




For more details on Oil dips in Asia on slowdown of Chinese industrial production, strengthening greenback click here

CPC buys 55,000 tons of full-range naphtha

CPC Corp. bought 55,000 metric tons of full-range naphtha for delivery to Kaohsiung, Taiwan, in April, as per Bloomberg. The company bought the cargo last week at a premium of about US$23/ton to Japann prices from an unidentified seller.




For more details on CPC buys 55,000 tons of full-range naphtha click here

Assam Petrochemicals Ltd plans to implement methanol-acetic acid plant

To cope with the ever-increasing demand for methanol, the Assam Petrochemicals Ltd (APL) plans to implement its long-cherished 500 TPD new Methanol expansion -200 TPD Acetic Acid project in the existiing location of the factory investing a total capital outlay of Rs.




For more details on Assam Petrochemicals Ltd plans to implement methanol-acetic acid plant click here

Borealis completes acquisition of DEXPlastomers

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announced today that it has acquired DEXPlastomers VOF in Geleen, The Netherlands, frrom DSM Nederland BV and ExxonMobil Benelux Holdings BV.




For more details on Borealis completes acquisition of DEXPlastomers click here

PVC sentiment shifting in Asia

PVC sentiment is beginning to shift in Asia owing to slumping upstream markets and the decision of a major regional producer to step back on their prices for March as per ChemOrbis. Trading activity iis said to be limited as many buyers are sticking to the sidelines while waiting for a clearer idea of the likely market trend.




For more details on PVC sentiment shifting in Asia click here

Dow to get about US$2.5 bln more from Petrochemical Industries Co. for canceled joint venture

The International Court of Arbitration of the International Chamber of Commerce released the final award amount, representing interest and costs, in the arbitration case between The Dow Chemical Compaany (NYSE:DOW) and Petrochemical Industries Company of Kuwait (PIC) related to the K-Dow transaction.




For more details on Dow to get about US$2.5 bln more from Petrochemical Industries Co. for canceled joint venture click here

SABIC halts plans to build US$5.3 bln methanol complex in Trinidad

SABIC has decided not to continue with its planned US$5.3 bln methanol complex in Trinidad and Tobago after the relevant parties failed to agree on unspecified fundamental conditions, as per Zawya Doww Jones.




For more details on SABIC halts plans to build US$5.3 bln methanol complex in Trinidad click here

Singapore’s Peak Energy to build PET plant in Sri Lanka’s port city of Hambantota

Sri Lankan Government has given its approval to allow the Singapore based Peak Energy to build a Polyethylene Terephthalate Manufacturing plant in the port city of Hambantota, as per news360.lk. The SSingaporean firm has already registered a new firm in Sri Lanka under the name of Hambana Petrochemicals Private Limited, which will bring in an initial investment of US$ 135 mln.




For more details on Singapore’s Peak Energy to build PET plant in Sri Lanka’s port city of Hambantota click here

Asia’s naphtha price likely to drift sideways on expected onslaught of deep sea cargoes

Asia will receive more than a mln tonnes of deep-sea naphtha supply from the western markets in April, similar to the 1.3 mln tons of arbitrage naphtha inflows booked for arrivals in March.


The deep--sea inflows for both months will hail from northwest Europe, the Mediterranean, Russia, as well as the US.



For more details on Asia’s naphtha price likely to drift sideways on expected onslaught of deep sea cargoes click here

Making money from waste plastics

The whole planet is trying to find sustainable solutions for the future and the spotlight is currently on waste management and ways of using rubbish as a resource and valuable commodity rather than laandfill.




For more details on Making money from waste plastics click here

Global styrene markets move south on weaker oil prices

Spot styrene markets moved south on a global scale over the week with Asian market witnessing the largest decrease, as per Chemorbis. Steadily weakening energy costs, which weighed down on spot benzenne costs in major markets including Europe, Asia and the US, were deemed as the main reason behind the bearish trend for styrene monomer.




For more details on Global styrene markets move south on weaker oil prices click here

Indian Oil Corp announces polymer price revision

Indian Oil Corp has announced following price revisions wef 1st March 2013


LBM: Rs (+) 1620/MT

Other HD Grades: Rs (+) 1000/MT

LL: Rs (+) 1500/MT

PP: Rs (+) 1000/MT

PFA PE/PP





For more details on Indian Oil Corp announces polymer price revision click here

Reliance announces polymer price revision with effect from March 1, 2013

Reliance has announced following price revisions wef 1st March 2013:


Increase in price of all HDPE grades by Rs 1000/MT

Increase in price of all LLDPE grades by Rs 1000/MT

Increase in price of all



For more details on Reliance announces polymer price revision with effect from March 1, 2013 click here

Tight VCM supply raises March PVC

Polyvinyl chloride (PVC) producers in south Asia have raised their offers for March shipments following tightness in supply of feedstock vinyl chloride monomer (VCM), as per ICIS. Regional producers in India increased prices for March shipments by Indian rupees (Rs) 1.




For more details on Tight VCM supply raises March PVC click here

India’s widest PVC pipe making machine unveiled

Rajoo Bausano, a joint venture between Rajkot-based Rajoo Engineers Limited and Italy's Bausano and Figli SPA, has developed a machine to manufacture 500 mm diameter PVC pipes. Company will export thee fully automatic machine with output capacity of 1000 kg/hour to South Africa.




For more details on India’s widest PVC pipe making machine unveiled click here

Global markets see higher March PP, PE prices from the Middle East

In global markets, Middle Eastern PP and PE prices were revealed higher despite the weak demand amidst buyers’ complaints as per ChemOrbis. A major Saudi Arabian producer issued hikes of US$20-60/ton in their own local market for March PP and PE during last week.




For more details on Global markets see higher March PP, PE prices from the Middle East click here

PetroVietnam, Eni ink JV deal for coal bed methane and shale oil exploration projects in Vietnam

State-backed PetroVietnam and Italian major Eni inked a joint venture agreement which paves the way for the latter to enter into partnerships for coal bed methane and shale oil exploration projects inn Vietnam.




For more details on PetroVietnam, Eni ink JV deal for coal bed methane and shale oil exploration projects in Vietnam click here

Sinopec in US$1.02 bln shale gas deal with Chesapeake Energy Corp.

China Petrochemical Corp.(Sinopec) has closed a US$1.02 billion deal with Chesapeake Energy Corp. With this, the second- largest Chinese energy producer has acquired a stake in a shale


oilfield for lless than one-third of its estimated value.



For more details on Sinopec in US$1.02 bln shale gas deal with Chesapeake Energy Corp. click here

Hike attempts for import PP defy lower local market in China

Some regular producers from the Middle East have revealed their March PP offers to China with increases of up to US$70/ton in the import market, blaming their tight supplies, as per Chemorbis. Neverthheless, a stable to soft trend remains in place in the local market, causing the local market to trade at a discount.




For more details on Hike attempts for import PP defy lower local market in China click here

Al Waha Petrochemical restarts polypropylene plant

The polypropylene plant of Al Waha Petrochemicals Co, an affiliate of Saudi Arabia-based Sahara Petrochemicals Co, has restarted its polypropylene plant. An unexpected technical interruption of the coooling water system at the plant had resulted in the shutdown of all the production units on February 14, 2013.




For more details on Al Waha Petrochemical restarts polypropylene plant click here

NWE Mar butadiene contract fully settled at Eur1,415/mt

The Northwest European contract price for March-delivered butadiene was fully settled at Eur 1415/mt FD NWE (US$1880/mt FD), following confirmation from two producers and two consumers involved in thee negotiations, as per Platts.




For more details on NWE Mar butadiene contract fully settled at Eur1,415/mt click here

Oil prices dip as results of Italian national elections threaten instability and disruption of euro zone’s recovery

New York’s main contract, light sweet crude for delivery in April, dipped to US$92.4 a barrel while Brent North Sea crude for delivery in April dipped to US$113.9. Oil weakened after Sunday’s nationaal elections in Italy failed to produce a clear winner.




For more details on Oil prices dip as results of Italian national elections threaten instability and disruption of euro zone’s recovery click here

Reliability and manufacturing with polymers in photovoltaics

The photovoltaic power industry is well established in many regions and despite the sometime negative perception the end user demand in 2011 was strong and the total market for new installations passeed the 26 GW mark according to IHS iSuppli.




For more details on Reliability and manufacturing with polymers in photovoltaics click here

Reliance Sibur Elastomers Pvt Ltd begins construction of butyl rubber plant in Jamnagar

Reliance Sibur Elastomers Pvt Ltd, a joint venture between Reliance Industries Ltd (RIL) and Russian gas processing and petrochemicals company SIBUR began construction of its butyl rubber plant in Jammnagar.




For more details on Reliance Sibur Elastomers Pvt Ltd begins construction of butyl rubber plant in Jamnagar click here

PET markets in Asia close the week after holiday on a stable to soft note

In Asia, PET producers anticipated firmer expectations for the period after the Chinese New Year holiday, as per ChemOrbis. However, last week, prices followed a stable to US$10/ton softer trend on thhe back of the lower upstream costs.




For more details on PET markets in Asia close the week after holiday on a stable to soft note click here

Ethylene, propylene supply tightens in Europe on production issues

European ethylene and propylene supply has tightened amid a spate of production issues, though the impact of this on spot prices is being moderated by poor derivatives demand, as per sources reported by Platts.




For more details on Ethylene, propylene supply tightens in Europe on production issues click here

State Bank of India accorded a board position Haldia Petrochemicals

State Bank of India, one of the lenders to Haldia Petrochemicals Ltd, has been accorded a board position in the company.


The consortium of banks demanded margin money of 20% from both the promoters for availing of Rs 1,000 crore sought for HPL's revival.



For more details on State Bank of India accorded a board position Haldia Petrochemicals click here