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.




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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.



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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.



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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.



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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.




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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.




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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.




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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.




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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.



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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.




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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.




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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.




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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.




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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.




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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.




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.




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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.




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.




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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.




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.




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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.




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.




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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.




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.




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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.




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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.




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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

Naphtha price and margin end previous week at three-week low

Naphtha price and its margin in Asia remained at a three-week low on Friday, at US$999/ton and US$140.8/ton respectively, as naphtha demand may slide further as buyers sought alternative feedstock, ass per Reuters.




For more details on Naphtha price and margin end previous week at three-week low click here

UAE's ADNOC to push forward by a month, April-March term naphtha cycle

The UAE's Abu Dhabi National Oil Co (ADNOC) plans to shift its April 2013-March 2014 naphtha term cycle forward by a month. With this, its cycle will change to May 2013-April 2014 term cycle instead, as per Platts.




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Marginal recovery in oil prices

New York's main contract, WTI crude for April, inched up to US$93.1, while, in London, Brent North Sea crude for April delivery rose to US$114.10 a barrel, at the end of the previous week. A marginal recovery was seen in oil prices on Friday, after two days of losses triggered by concerns that prices had outrun weak growth in demand.




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C3 Petrochemicals plans to build PDH plant in Texas

C3 Petrochemicals plans to build a propane dehydrogenation (PDH) plant near Alvin, Texas, to produce polymer-grade propylene (PGP) and chemical-grade propylene (CGP), according to an air quality permiit application that the company filed this month with the US Environmental Protection Agency (EPA), as reported by ICIS.




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Chevron buys 35,000 tons of naphtha from ONGC in a rare move

Chevron has bought 35,000 tons of naphtha from India's Oil and Natural Gas Corp (ONGC) for March 3-4 loading from Hazira in a rare move, as per Reuters. Chevron paid a premium of about US$50/ton to Miiddle East quotes on a free-on-board (FOB) basis.




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Oil plunge in New York raises speculation of massive sell-off by investment fund

Oil plunged by around three dollars in New York to less than US$95, while Brent futures dropped by about two dollars to US$115.60 in London.


The unexplained plunge raises speculation of massive selll-off by an investment fund.



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Rubberlike flexibility of new PVC elastomer jacket compounds eases handling of industrial cables

Two PVC elastomer compounds for jacketing of industrial and heavy-duty cables exhibit flexibility even at very low temperatures and provide a property profile comparable to more costly high-performancce materials widely used in such applications, it was announced today by Teknor Apex Company.




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Reliance announces PE price revision

Reliance Inds Ltd has announced PE price revision with effect from February 21, 2013:


· Increase prices of LLDPE High Flow grades (M24300 & M26500) & Octene Film grades (O19010, O20010 & O210



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Higher import PVC prices meet with resistance in India

Initial import PVC prices for March have been announced with increases to India this week in line with rising upstream costs and the firming global trend, according to ChemOrbis Price Index. In expecttation of more modest increases for the coming month, buyers are offering resistance to the new prices.




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Itochu, Glencore buy March naphtha at premium

Itochu Corp. sold 30,000 tons of naphtha for loading in March to S-Oil Corp, at a premium of US$53/metric ton to Japan benchmark prices. SK Innovation Co. sold a naphtha cargo for March loading to Gleencore International Plc, at a premium of over US$40/metric ton to Japanese benchmark prices.




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IOC to decide on acquiring stake in Haldia Petrochem after decision by West Bengal government

Indian Oil Corporation (IOC) could a call on taking a controlling stake in the cash-strapped Haldia Petrochemicals Ltd (HPL) following the West Bengal government's decision to appoint a consultancy fiirm - Deloitte to advise on the proposed sale of its shares, as per IANS.




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Naphtha cargoes fetch record high premium

Reliance Industries has sold up to 20,000 tons of naphtha for H1-March loading to Unipec at around US$70/ton above Middle East quotes on a free-on-board (FOB) basis, setting a new high for naphtha preemiums in India, as per Economictimes.




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Successful coating of PEEK implants with bioactive film improve success rate in spinal surgeries

Researchers from North Carolina State University have for the first time successfully coated polymer implants with a bioactive film. The discovery should improve the success rate of such implants – whhich are often used in spinal surgeries.




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Oil prices mixed amid holiday in US financial markets

New York's main contract, light sweet crude for delivery in March inched up to US$95.6 a barrel, while Brent North Sea crude for delivery in April dipped to US$117.4. Oil prices were mixed in Asia on weaker oil production and exports from Saudi Arabia, and as financial markets remained closed in the United States on Monday for a public holiday.




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Polyethylene Terephthalate market is expected to reach 76.7 mln tons by 2016

Polyethylene Terephthalate (PET) volume market is expected to reach 76.7 million tons by 2016 primarily supported by the product types - films, fibers and sheet extrusion, as per ResearchandMarkets. GGlobally, bottles & container and food packaging segments together accounts for approximately 62.




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Russia's SIBUR establishes polypropylene trading groups in Turkey, Ukraine

Russia-based petrochemicals major SIBUR has registered two new subsidiary companies in Turkey and Ukraine to specialize in the trading of polymers, as per hydrocarbonprocessing.com. SIBUR Internationaal Trading Istanbul and SIBUR International Trading Kiev, with offices in the respective capitals, will trade in basic polymers.




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Pertamina seeks Government guarantee for plan to build petrochemical refineries

State oil company Pertamina has requested a guarantee from the government concerning the company’s plan to build petrochemical refineries capable of producing 1 million tpa. Pertamina is seeking that the government restrict similar industries from entering the sector, as per TEMPO Interactive.



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Olefin prices follow different paths in global markets

Spot olefin prices followed different paths in major markets over the past week during Chinese holidays, as per ChemOrbis. Propylene and ethylene costs were either steady or posted slight gains in thee European and Asian markets with respect to the prior week on the strength of rising naphtha costs.



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Economic concerns in USA and Europe keep oil prices below US$96

Benchmark crude for March delivery dipped to US$95.6 in electronic trading on the Nymex, while Brent crude dipped to US$117.6 on the ICE Futures exchange in London.


Market sentiments have been weigheed down by last week’s data which showed that US industrial production weakened and Europe remained mired in recession.



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Rapid demand growth of bio-based chemicals to cause strain on feedstocks by 2030

Driven by aggressive biofuel mandates, rapid growth will cause great strain on biomass by 2030, according to Lux Research. Using today’s technologies, an area the size of Russia would need to be cultiivated to replace all of petroleum use for chemicals and fuels—feedstock innovation will be needed to keep growing biomass’s market share.




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Strike on Ain Sokhna port hinders import shipments to Egypt

In Egypt, Ain Sokhna port workers have been on strike since end January, according to local Egyptian media. Around 1,200 workers at Platinum Maritime Services, which is a subcontractor at the port, sttarted their strike demanding permanent contracts with DP World, a private Dubai-based company that manages the port.




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Oil prices yo-yo amid Europe growth concerns and Mid East tensions

Oil on the Nymex dipped to US$95.6, while Brent crude rose marginally to US$117.7 a barrel on Monday, supported by expectation of improving global growth despite some weak US data damping prices at thhe end of last week, and tensions in the Middle East.




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Polymer market in Asia shrugs off China's new preferential PE import duties

With effect from January 1, 2013, China will cut the polyethylene import duty for Least Developed Countries to 3%, from 6.5%, provided the landed prices of low density PE and high density PE from thesse countries exceed US$3,800/mt on a cost-insurance-freight (CIF) basis.




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Naphtha prices ease in Asia

Asian naphtha price eased to a three-session low of US$1052 on Friday after holding at a 10-month high, mirroring the fall in Brent crude. Naphtha margin in Asia, at US$169.1/ton has surged 26% since the start of this year as tight supplies persisted.




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