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.




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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.




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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.




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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.




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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.




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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.




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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.




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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.




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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.



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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.




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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.




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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.




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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.




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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.




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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.




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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.




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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.




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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.




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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.




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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.



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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.




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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.




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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





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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



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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.




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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.




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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.




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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.




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