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).




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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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