Dow to hike PE prices in Europe in September

With effect from 1 September 2007, Dow Europe (Horgen, Switzerland) plans yet another increase in European PE prices. This time, the hike is EUR 50/ton for all grades of LDPE and HDPE resins, "Dowlex" PE resins, "Attane" ultra low density polyethylene (ULDPE) copolymers, "Elite" enhanced polyethylene resins and "Aspun" fibre-grade resins. This is the second price hike Dow has announced within two months. On 1 August 2007, Dow had announced a EUR 60/ton rise for the same products.

Formosa Petrochemical mulls delay of ethylene plant restart

Taiwan's Formosa Petrochemical Corp., could delay restart of its ethylene plant by three weeks. This further delay has been caused by a mechanical fault at the unit's compressor that is more serious than the company had expected. The 700,000 metric tpa ethylene facility may remain closed until around Sept. 20. The plant was shut Aug. 21 for repairs to the compressor and was originally scheduled to restart by the end of August.

Newly designed screw elements facilitate processing of synthetic biodegradable materi...

An innovative process facilitates manufacture of packaging films made of biodegradable materials for consumer industries, using starch. Newly designed screw elements in the compounder, enables for the first time, this processing of synthetic biodegradable material that can be specifically produced with variable starch and moisture content levels to suit injection moulding or blow moulding processes.

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Karnataka state to apply to the Union government for PCPIR

Karnataka State Cabinet has given its consent to apply to the Union Government for establishing a Petroleum Chemical Petrochemical Investment Region (PCPIR). The Rs 1,52,000 - 2,00,000 crore project is subject to Union Government approval.

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Vinythai to acquire assets of rival PVC producer

In a bid to facilitate capacity expansion, Thailand's second largest polyvinyl chloride (PVC) producer - Vinythai PCL plans to buy assets of smaller rival APEX Petrochemical Co. for 3.25 billion baht ($94 million) to expand capacity.

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GE, Mitsui Chemicals and Nagase in Japan Joint Ventures

GE, Mitsui Chemicals, Inc. (MCI) and Nagase & Co., Ltd. (Nagase) announced that they have reached the following agreement regarding their two Japanese joint ventures - GE Plastics Japan Ltd. (GEPJ) and GEM PC Ltd. (GEMPC). GE Plastics Japan Ltd.

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Bayer MaterialScience to invest in PC compounding expansion

In a bid to offer customers a better service with optimized logistics processes, world's no.1 polycarbonate Makrolon®, Bayer MaterialScience AG plans to invest in expansion of its global compounding network. Bayer MaterialScience plans expansion of compounding facilities at Krefeld-Uerdingen and also new facilities in Southern China and New Delhi, India.

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Corrosion-free pipe solution from Borouge aids water supply in Shanghai

Highly-durable PE100 water pipes from Borouge, a leading provider of innovative, value creating plastics solutions, have helped to supply safe, clean drinking water for residents of Pudong in Shanghai. The use of pipes produced with BorSafe® HE3490-LS is a long-lasting alternative to the previous high-maintenance leaking iron pipe network. According to the United Nations, water conservation is one of the most urgent global challenges facing society today.

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BASF to hike engineering polymer prices in North America

All time high and unrelenting higher costs of feedstock, energy and transportation, has led BASF to increase engineering polymer prices in North America. With effect from 20 August 2007, BASF has raised prices for PA, PBT and PET resins in North America by USD 0.10/lb (USD 0.22 /EUR 0.16/kg). The hikes apply to "Ultramid" PA 6/6.6, "Nypel" recycled PA 6 resins "Ultradur" PBT resins and "Petra" PET resins.

Polystyrene Market Update in North America, August 27, 2007

Spot Polystyrene slipped about $.01/lb this past week. It seems that producers have become a little more aggressive in moving product and we have seen the result in softer prices. While we continue to see a fair amount of lower quality cars, which are often best for export, we have also been seeing a better flow of good offgrade cars and others that seem to be downgraded prime.

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Polypropylene Market Update in North America, August 27, 2007

Spot Polypropylene prices waffled this past week, much as they have during most of August. The spot market however, did make a quick $.01/lb gain around the beginning of the month in response to an early $.015/lb higher Propylene monomer settlement for August contracts. The market tried to gain momentum a couple of times, but has really gone nowhere. Given the last year's correlation, it is not too far of a stretch to predict Polypropylene contracts to settle on average $.015-.02/lb higher in August.

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Polyethylene Market Update in North America, August 27, 2007

The Polyethylene market came under pressure this past week with spot prices easing about $.01/lb. The market has now fully given back the premium that it had earned in the first part of the month when producers were trying to enact their $.04/lb price increase in August.

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Polymer Market Update in North America, August 27, 2007

Hurricane Dean stayed south avoiding America's key petrochemical infrastructure in the gulf area. This was a great relief to the energy markets, which had built in a weather premium during the previous week. The resin markets also reacted this past week by developing a slightly negative tone. Although the change was more in sentiment than price, the resin market might be entering a period of transition, away from still higher prices.

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ABS

An interesting development of "who will relent first" was witnessed in this weeks' ABS market. Prices for ABS stagnated at US$1700/MT as a bulk of buyers and sellers continued to remain in the sideline. Sellers did not want to budge from the selling price of US$1700/MT, consequential to historically high ACN values and higher butadiene prices. Interestingly, general buying interest was pegged lower as buyers adopted a cautious stance in a bid to keep an eye on the influence of bearish crude oil market on downstream sectors.

GPPS

GPPS markets dipped by ten dollars to US$1470/MT in the week of August 27, 2007 in Asia. This dip was in line with a correction in upstream SM values. Few deals were transacted as the mainstream Chinese buyers adopted a "wait and watch attitude". Offers from suppliers were down-adjusted in tandem with reduced buying interest.

PVC

PVC prices in Asia rose to US$1030/MT in the week of August 27, 2007, corresponding with higher feedstock costs of VCM and calcium carbide. Tight supplies accompanied by strong global demand have caused market prices to continue to rise. PVC prices are estimated to rise in the next few weeks of September 2007 in tandem with rising VCM and calcium-carbide prices.

Polypropylene

The PP markets remained laggard and stagnated at last weeks' levels of US$1400/MT in Asia in the week of August 27, 2007. Suppliers did try to hike offers by 15-20 dollars, but dull buying interest maintained PP prices at last weeks' level. Thin transactions were seen in the market, except small cargoes for immediate shipment on account of this low buying interest.

LLDPE

Market for LLDPE in Asia was lackluster and stagnated at US$1410/MT in the week of August 27, 2007. Suppliers attempted to hike offers by almost 10 dollars, but dull buying interest maintained LLDPE prices at last weeks' level.

LDPE

Firm supplies maintained strong market sentiments for LDPE in Asia. LDPE prices rose to US$1550/MT in Asia in the week of August 27, 2007. LDPE prices are estimated to rise in the opening weeks of September.

HDPE

Firm supplies coupled with higher cost of feedstock ethylene has supported a rise in HDPE prices to US$1425/MT in Asia in the week of August 27, 2007. HDPE prices are estimated to rise in the opening weeks of September.

STYRENE MONOMER (SM)

A demand recovery from buyers in Asia has boosted benzene prices to US$990/MT in the week of August 27, 2007. This rise in upstream benzene prices supported a rise in SM prices to US$1390/MT in Asia in the week of August 27, 2007.

POLYMER FEEDSTOCK-PROPYLENE

Propylene prices in Asia waned to US$1110/MT due to deficient buying interest despite an unforeseen outage of Formosa's No.1 naphtha cracker. Propylene market weakened on account of mellowed buying interest in Asia from wary buyers as preferred to wait in the sidelines. The reluctance to buy on part of the buyers was because of a continual decline in momentum in the downstream PP market for the past fortnight.

POLYMER FEEDSTOCK - ETHYLENE

Weaker buying sentiments in Asia led ethylene prices to drop by almost twenty five dollars from last week's price to US$1285/MT in the week of August 27, 2007. This dip in ethylene price was despite short supplies due to an expected maintenance shutdown at Formosa's No.1 naphtha cracker. Ethylene prices weakened by the lack of buying interest coupled with the strain of intensified supply from the Middle East region. Large quantity of ethylene from the Middle East region has become abundantly available due to glitches at downstream plants.

POLYMER FEEDSTOCK - EDC

Stringent supply amid emerging growing demand from non-vinyl producers, has maintained stability in the EDC market in Asia in the week of August 27, 2007. EDC prices stagnated at last week's level of US$480/MT. A gap of almost 20-30 dollars existed between supplier offers for September shipment and buying interest from vinyl producers in China, rendering the EDC market to remain lackluster.

POLYMER FEEDSTOCK-EDC

Stringent supplies in the Asian region have supported a hike in VCM prices in Asia in the week of August 27, 2007 to US$840/MT. Despite inactivity in the market on account of absence of September offers from major suppliers, robust market outlook thrived on continuation of suspension of VCM exports next month by Tosoh due to insufficient inventories. It is anticipated that offers for VCM in September could increase by at least 20-30 dollars more.

POLYMER FEEDSTOCK - VCM

Stringent supplies in the Asian region have supported a hike in VCM prices in Asia in the week of August 27, 2007 to US$840/MT. Despite inactivity in the market on account of absence of September offers from major suppliers, robust market outlook thrived on continuation of suspension of VCM exports next month by Tosoh due to insufficient inventories. It is anticipated that offers for VCM in September could increase by at least 20-30 dollars more.

NAPHTHA

Naphtha prices in Asia dipped in tandem with weak crude oil prices by almost fifteen dollar to US$655 a barrel in the week of August 27, 2007.

Price trends of oil, polymer feedstock & commodity polymers in Asia for the week of A...

SUMMARY Crude oil futures dipped marginally to US$71.09 per barrel for September delivery in the week of August 27, 2007 on the New York Mercantile Exchange, on account of a sudden unexpected rise in inventories. Naphtha dipped in line with falling crude prices. Weaker buying sentiment has caused a sharp drop in ethylene and propylene prices. Rising upstream benzene prices supported a rise in Styrene monomer (SM) prices. EDC prices stagnated at last weeks level, while stringent supplies in the Asian region have supported a hike in VCM prices. HDPE and LDPE rose on the back of tight supply, while LLDPE and PP markets remained lackluster. PVC prices rose in line with higher VCM prices. GPPS prices dipped and ABS prices stagnated. CRUDE OIL Oil prices witnessed a marginal dip, slipping down to US$71.09 on the New York Mercantile Exchange in the week of August 27, 2007 on reports by the US Energy Department of an unexpected rise in inventories. Crude oil for October delivery climbed down from last weeks' US$71.98 a barrel after an opening price for the week of US$69.26 a barrel.

CB&I to buy out Lummus Global

Chicago Bridge & Iron Co NV has agreed to acquire ABB's Lummus Global business, for an enterprise value of $950 million on a debt and cash free basis, subject to adjustments at closing. The acquisition is expected to close in Q4-2007, subject to shareholder and customary regulatory approvals.
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Bayer MaterialScience to acquire Czech PU systems business

In a bid to further extend its global network of polyurethane systems, Bayer MaterialScience has signed a contract for the acquisition of the Brahe a.s. systems house in the Czech Republic.

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Indorama Polymers to invest US$160.6 mln in AlphaPet Inc. plant in USA

Thailand-based Indorama Polymers Group has announced an estimated US$160.6 mln as initial investment in AlphaPet Inc. plant in USA. Construction is expected to begin in October this year, scheduled for completion in September 2009.

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European Commission clears Ineos' proposed acquisition of Borealis' Norway operations

The European Commission has cleared British chemicals company Ineos' proposed E290 mln acquisition of Borealis' operations in Norway. Ineos is a British company active in the production and distribution of specialty chemicals. Borealis Norway consists of polyolefin production facilities and 50% of Noretyl AS, a joint venture that operates a gas cracker that produces feedstock used in polyethylene and polypropylene production.

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Industries Minister resizes chemical hub at Haldi

West Bengal Chief Minister had quoted that 4,000 acres of government land would be added to the plots on which Haldia Petrochem and Mitsubishi plants are located to make it a 10,000 acre chemical hub, considerably downsizing the plot as compared to originally planned.

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Oil prices recover after this weeks' losses

Oil and gasoline prices rose, recovering from steep losses earlier in the week, as the stock market gained some stability.

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Total to partner Sonatrach in petrochemical complex in Algeria

Total has been shortlisted as a venture partner by Algerian Sonatrach, to build a petrochemical complex in Arzew, near Oran. The investment outlay is approximated at US$3 bln. Development design will be launched shortly, with commissioning of the units scheduled in about five years.

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Chinese regulators to promote environmental pollution liability insurance

China plans to promote environmental pollution liability insurance - to cover third party liabilities arising from accidents at a particular insured site. China's State Environmental Protection Administration (SEPA) and the China Insurance Regulatory Commission (CIRC) are preparing to establish a mechanism promoting environmental pollution liability insurance, as the country continues face the onslaught of increasing pollution related accidents.

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DuPont completes polyamide compounding capacity expansion in Korea

To fulfill demand growth for reinforced nylon resins in Asia, notably demand from the growing field of electronic and automotive applications, Dupont had initiated polyamide compounding expansion in Korea.DuPont Engineering Polymers has accomplished the successful expansion of polyamide compounding capacity at its production site in Ulsan, South Korea by 20,000 tpa.

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LN Mittal plans to collaborate with Total and HPCL for petrochem project in India

Steel magnate LN Mittal plans to join forces with Total SA of France and Hindustan Petroleum Corporation Ltd (HPCL) to set up a mammoth greenfield refinery cum petrochemical project at the proposed petroleum, chemicals & petrochemicals investment region (PCPIR) near Visakhapatnam in Andhra Pradesh. Mittal's first petrochem foray is the investment in HPCL's Rs 24,000-crore refinery at Bhatinda, Punjab. The project also marks HPCL's foray into the petrochemical sector.

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Karnataka State clears proposal to construct a petrochemical complex

The cabinet of South Indian state of Karnataka has cleared a proposal to construct a Petrochemical Complex near Mangalore. This complex will have an investment outlay of Rs 3,590 crore, is scheduled to be completed by 2026, and will create a job potential for over one million people. Karnataka state will submit its proposal to the Centre at the earliest, following the pace of Gujarat, Andhra Pradesh, West Bengal and Orissa.

West Bengal Govt proposes to scale down size of Haldia hub to 4000 acres

West Bengal Government has proposed to scale down size plans for "mega chemical hub" in Haldia to 4,000 acres. IOC is expected to set up a mother plant on the 4000 acres of fallow government land near the Haldia Petrochem and Mitsubishi plants over 6,000 acres in Haldia.

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Oman Petrochemical Industries Company faces delay in completion

The mega petrochemicals and plastics project at Sohar, Oman seems to be delayed. The project, to comprise a 1 mln tpa ethylene cracker, three world-scale PE and two PP plants was estimated to start up in 2008-2009, as per original plans.

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Formosa likely to put off restart of No.1 cracker

Taiwan's Formosa Petrochemical Corp is likely to shut down its 700,000 tpa naphtha cracker for longer than planned- possibly at least two to three days. Formosa's No. 1 cracker was shut down on Tuesday due to a compressor problem and was expected to restart by Aug. 28.

A technical glitch forced Formosa to run the No.1 cracker at a lower rate, last month.

POLYMERS - ABS

Higher ACN prices coupled with almost stagnant SM rates has allowed ABS offers to get a marginal upward edge this week. ABS prices rose by ten dollars to US$1700/MT in Asia in the week of August 21, 2007. Producers have incurred high production costs and are not willing to offer material below US$1700/MT levels.

POLYMERS - GPPS

Polystyrene buyers in Asia, particularly China, adopted a wait and watch perspective, leading to a lull in the markets. Despite dipping feedstock (SM) prices, GPPS prices rose marginally to US$1480/MT in Asia in the week of August 21, 2007.

POLYMER - PVC

Stringent supply scenario in tandem with bullish global demand has triggered a PVC price hike in Asia. PVC prices rose to US$1020/MT levels in Asia in the week of August 21, 2007. Key Asian suppliers have been reported to have hiked September offers by twenty dollars, though current buying interest remains firm at US$1010-1020/MT levels.

POLYMERS-Polypropylene

PP markets in Asia remained lackluster and stagnated at last week's level of US$1400/MT in the week of August 20, 2007. Several suppliers are reported to have deferred offers this week. Strong propylene prices have prompted major Asian producers to propose a US$20-25/MT hike in offers for September. However, the market estimates a very limited future price hike as the high demand season approaches a fag end in Asia.

POLYMERS-LLDPE

LLDPE prices stagnated at US$1410/MT in the week of August 20, 2007 in Asia. Suppliers closed deals for August on tight supplies. Robust export demand for LLDPE was pegged stronger than demand from buyers in China, where deals were heard to have transacted at levels at least 20-30 dollars lower than US$1410.

POLYMERS - LDPE

Stringent supplies coupled with lack of supplier offers, have maintained a calm in LDPE markets across Asia in the week. LDPE prices stabilized at last weeks' level of US$1540/MT in the week of August 20, 2007, in the absence of much market activity.

POLYMERS-HDPE

Rising feedstock costs have not yet taken a toll on HDPE prices in Asia. HDPE prices have stagnated at US$1415/MT in Asia in the week of August 20, 2007, on account of fewer transactions in the market. Rising ethylene prices are expected to effect HDPE prices next month, resulting in higher prices.

STYRENE MONOMER

Benzene prices that stagnated last week, bounced back above US$970/MT, in line with rising oil prices, in the week of August 20, 2007. Rising feedstock benzene prices failed to sustain Styrene Monomer prices this week. SM prices dipped marginally to US$1385/MT in the week of August 20, 2007 in Asia. The number of transactions for the week was trimmed down as buyers preferred to "wait and watch". Styrene monomer prices are expected to fall in the next month.

PROPYLENE

Propylene markets seemed to lag behind as compared to the spectacular rise in ethylene prices. Propylene prices stagnated at last weeks' level of US$1120/MT in Asia in the week of August 20, 2007.

ETHYLENE

Tight availability of ethylene across Asia has resulted in a quantum leap in prices. Ethylene prices rose to levels above US$1310/MT in the week of August 20, 2007. However, caution prevailed at the buyers' end as they were reluctant to procure material at such elevated prices, on account of uncertainty of downstream PE markets. Buyers seem unsure of the movement that currently strong downstream PE markets will follow in the coming weeks. Ethylene prices are expected to rise further in the next month, even as buyers resist offers at the present level.

VCM

As buyers await next months' offers, VCM markets remained calm this week. Prices stagnated at last weeks' levels of US$830/MT in the week of August 20, 2007. Market conditions of tight supply and rising feedstock costs indicate that VCM prices will be hiked in the next few weeks by producers. Japan's Tosoh, back onstream after an unplanned shutdown, is facing diminishing stockpiles, and is contemplating limiting VCM exports next month in September.

POLYMER FEEDSTOCKS - EDC

Robust demand from Chinese buyers has given an upward thrust to EDC prices in Asia this week. EDC prices rose to US$480/MT in Asia in the week of August 20, 2007, with limited cargoes demanding US$10-15/MT more. The gap between sellers intention at US$500/MT widened as buyers preferred to maintain buying interest at last weeks levels.

NAPHTHA

Naphtha prices, that had been adhering to the trend of oil prices, deviated as they spiked in Asia in the week of August 20, 2007. Escalating demand from the Asian region has exerted pressures on naphtha prices, resulting in a 15 dollar rise. Naphtha rose to US$670/MT in this week.

JinHaas commences production of plastics additives

Rohm and Haas Company and Weihai Jinhong Polymer Co. Ltd have commenced production at their joint venture company, Jinhong Rohm and Haas Chemical Company (JinHaas).

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Sintex Industries plans to acquire European composites firm

Indian plastic and textiles maker Sintex Industries Ltd. plans to acquire a European composites firm by March 2008. The company, with which the deal is expected to be finalized, has sales of about US$30 million in Europe. Sintex has set aside Rs 1.1 bln to be funded through internal accruals for these acquisitions.

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Sumitomo to acquire Asahi Kasei Chemicals' PP compounding plant

Japan's Sumitomo Chemical plans to acquire the 40,000 tons PP compounding plant of Asahi Kasei Chemicals located at Havant near Portsmouth. Currently, Asahi Kasei holds 65% stake in the company and 35% is owned by Planesa, a Belgium-based holding company which coordinates the plastics operations of four Nichimen Group companies in Europe. AK & N has a 20,000 ton plant in Marseilles, France, which will also be included in the acquisition.

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Shaw awarded technology & engineering contract by Tianjin Dagu

The Shaw Group Inc. has been awarded a contract to provide technology and basic engineering for a 500,000 metric tpa ethylbenzene/styrene monomer (EB/SM) plant for Tianjin Dagu Chemical Industry Co. Ltd., to be located in Tianjin, China.

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Heat shrink labels with integrated holograms to help wine & spirit industry

The new Holosleeve for wine and spirits bottles using three cutting-edge technologies has been introduced by Sleever International. The Holosleeve is heat-shrink labels with integrated holograms will help the wine and spirits industry to counter counterfeiting and forgery.

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Indorama to boost Europe sales

Indorama Polymers Plc (IRP), Europe' eighth largest PET producer projects an increase in market share in Europe to at least 10% within the next two years. Indorama's current market share in Europe is pegged at 6%, but is estimated to dip to 5.7% next year, upon the expansion of capacity by market leader, Spain's La Seda, to 965,000 tpa from the current 790,000 tpa.

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Borouge announces plans to develop compounding facility in China

Borouge, a leading provider of innovative, value creating plastics solutions, today announced that it plans to develop a compounding facility in China for the manufacture of high performance polypropylene compounds for applications in the automotive and electrical appliance sectors.

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Celanese concludes sale of subsidiary to BPI

Celanese Corporation, has announced sale of the Films business of its AT Plastics subsidiary to British Polythene Industries PLC (BPI). The Films business manufactures products for the agricultural, horticultural and construction industries.

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Samsung Total plans completion of work on metathesis unit in Daesan for August 2008

South Korean Samsung Total plans to complete the new 185,000 tpa metathesis unit located at its Daesan naphtha cracker complex in August 2008.

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BASF announces price increase for engineering plastics

Due to unprecedented and sustained higher costs in raw materials, energy and transportation, BASF will increase prices in its engineering plastics product line in North America, effective August 20, 2007, or as contracts allow, for all shipments. The specific increases for North America are as follows:

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American petrochemical association reported to have paid lobbyist

The National Petrochemical & Refiners Association comprises 450 members and is headquartered in Washington. BASF AG, Lyondell Chemical Co. and Valero Energy Corp. are among the prominent members of this association.

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Formosa shuts ethylene plant after mechanical faults

Mechanical faults have forced Taiwan's Formosa Petrochemical Corp. to shut one of its three ethylene plants. The 700,000 tpa of ethylene plant is estimated to stay closed for about 10 days for repairs to the plant's compressor. The unplanned shutdown may boost prices of ethylene, that have already seen approximately 30% hike in prices since late June.

Middle East Plastic Pipes 2008

There is tremendous development taking place in the Middle East and North Africa. Construction projects are booming, particularly in regions such as Dubai. There is also an increase in programmes to improve water management from desalination plants to recovery and recycling of waste water, and irrigation.

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Price trends of oil, polymer feedstocks & commodity polymers in Asia for the week of ...

Crude oil futures rose marginally to US$72 for September delivery in the week of August 20, 2007 on the New York Mercantile Exchange. The past few weeks have witnessed a dip in prices prompted by news of a US economy slowdown.Naphtha rose despite dipping crude oil prices, as a result of rising demand. Persistent stringent supplies continue to prompt higher ethylene prices in Asia, though propylene remained lackluster. Styrene monomer (SM) prices dropped as buyers adopted a "wait and watch" stance. Robust buying has kept EDC prices higher, while VCM markets stagnated at last weeks' levels. Market for all the PE polymers and PP remained stagnant.PVC witnessed a robust price hike, while GPPS and ABS rose marginally.
CRUDE OIL Crude oil prices saw a marginal increase to US$72 for the week of August 20, 2007. This hike was supported by announcement of an unanticipated cut in the US Federal Reserve's discount rate. Also supporting oil prices was concerns prevalent in the market about news that Hurricane Dean may blow into the Gulf of Mexico this week. On the whole, this month has seen oil prices fall from near record highs on apprehensions of a cut in economic growth rate in the USA due to losses in the U.S. credit market.

Sinopec signs contract to build petrochem base in Hebei

Sinopec and Hebei Development and Reform Commission has signed a contract to build a petrochemical refinery base in Hebei Province. The complex will encompass an oil refinery with an annual processing capacity of 10 million tons and a 1 million ton ethylene unit.

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EU delays inquiry deadline for Ineos' proposed acquisition of Norsk Hydro

The European Commission has put off till September 7, 2007 the deadline for its inquiry into British chemical company Ineos' proposed 5.5 bln nkr acquisition of Norsk Hydro ASA's petrochemicals business Kerling ASA. The original deadline of August 24, set by the commission, was extended due to 'first phase inquiry commitments.

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Polystyrene Market Update, August 20, 2007

The spot Polystyrene market is still humming along; prices have been steady as there has been little impetus to drive it in either direction.

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Polypropylene Market Update, August 20, 2007

Spot Polypropylene prices have pushed about $.01/lb higher so far this month, now reaching into the low $.60s/lb. Downstream inventories are comfortable to low and US processor demand is still struggling, so this is clearly still a cost-driven scenario.

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Polyethylene Market Update, August 20, 2007

Spot Polyethylene markets were fairly active this past week. The market found some relief as most all producers have pushed their $.04/lb price increase until September, but have added a $.05/lb Sep 15th increase as support in case there are (weather related) supply disruptions.

For more details please click on the following link
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Polymer Market Update, August 20, 2007

It was a very nervous week of trading for both the energy and resin markets. The threat of a double punch from Erin and Dean brought on frightening reminiscence of the devastating twin hurricanes of 2005. After a pleasantly non-eventful hurricane season last year, this current weather market has encouraged some resin buyers to consider building some defensive stocks.

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Basell launches metallocene-based PP

Basell has launched a new metallocene-based Metocene polypropylene (PP) copolymer, Clyrell EM248U, to target processors of clear, thin-wall, injection-molded (TWIM) food applications in the United States.

For more details please click on the following link
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Polymer Future trading yet to take off in India

Four months after it launch of futures trading in polymers in India, NCDEX seems to have met with little success. The daily average volumes in PVC has been ruling at just around Rs 50-60 lakh as against the target of close to Rs 100 crore.

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Oil prices dip in Asian Trading as concerns over Atlantic hurricane eases

Light, sweet crude for September delivery fell to US$71.31 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore.

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Mitsubishi awarded PTA plant contract from Polish Oil refining and petrochemical majo...

Mitsubishi Heavy Industries, Ltd. has received an order for a large-scale purified terephthalic acid (PTA) plant from Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN), Poland's largest oil refining and petrochemical company.

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Invensys completes automation project in a major expansion of Samsung Total

Invensys Process Systems has successfully completed its automation project in a major expansion of the Samsung Total petrochemical complex in Daesan, Korea.

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Domestic demand to be driver of growth in Saudi Arabia from 2007-2010

Domestic demand is said to be the main driver of growth in Saudi Arabia for the period 2007-2010, as per a report by Jadwa Investment. As per the report, mega project implementation and broad liberalisation will drive real non-oil private sector growth up to an average of nearly 8% with growth being fastest in manufacturing, communication, finance and construction.

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New coupling agents and dispersion aids product information available from Dow Cornin...

Dow Corning Corporation, a pioneer of organosilane technology, has published new literature for its Dow Corning® brand Coupling Agents and Filler Dispersing Aids. Product information for the recently introduced Dow Corning® Z-6173 Filler Dispersion Aid is now available.

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New coaxial cable insulation supports increased bandwidth demand

Borealis, a leading provider of innovative, value creating plastics solutions, introduces Borcell HE1106, a cutting-edge high density polyethylene (HDPE) insulation material for the coaxial cable market. It allows the cost-effective production of cables with increased and more reliable data transmission at higherfrequencies. As a result, network providers can minimise signal loss, raise performance quality and use wider bandwidth to offer a variety of services to customers over the same network, such as internet, telephony, voice-over IP and cable television.

Oil prices rise on news of refinery fire in USA

Light, sweet crude for September delivery rose to US$71.50 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. New of a U.S. refinery fire have helped crude futures recover from the previous session's more than US$2 decline.

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Lotte Daesan to expand ethylene output to 1 mln tpa

Lotte Daesan Petrochemical, part of Honam Petrochemical (Seoul, South Korea), plans to expand ethylene capacity from 600,000 tpa to 1 mln tpa. Lotte Daesan will use the "Ripple Tray" technology of the Shaw Group for the ethylene revamp project. Expansion of the cracker located at Daesan, South Korea is scheduled for completion in summer 2008.

One dies in petrochemical plant blast in Romania

A powerful explosion at Romania's biggest petrochemical complex Oltchim, located at the town of Ramnicu Valcea, left one dead and seven wounded.

The accident is believed to have been caused by a failure of the circulation pump that increased the pressure at one of the plastic reactors and triggered the blast. No toxic leakage has been reported.

India not keen to eliminate import tariffs on chemical and petrochemical items under ...

Thailand and India are engaged in negotiations to conclude a Free Trade Agreement (FTA) covering trade in goods by 2010. The FTA covering trade in goods would lead to long term mutual benefits in trade and investment and the partnership would be expanded further to cover technology know-how and expertise.

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Environment Dept seeks detailed report on Sg Pulai petrochemical project

Malaysia's Department of Environment has sought a detailed Environmental Impact Assessment (EIA) report on a petrochemical project at the Sungai Pulai estuary in Pontian, Johor, pursuant to reservations expressed by Johor Mentri Besar Datuk Abdul Ghani Othman in view of the sensitivity of the project and the huge mangrove swamp.

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A new US$10 mln innovation centre seeks fossil fuel alternatives

Sarnia's Chemical Valley plans to invest US$10 mln in an innovation centre to develop environment-friendly fuels. The new centre will be at the Sarnia-Lambton Research Park of the University of Western Ontario.

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Cheaper and more effective bioplastic packaging for food, pharma and cosmetics

Netherlands-based Purac, a producer of lactic acid for the food sector, has invested in new lactides that will contain (L+) and D(-) lactic acids and will potentially provide the food, pharma and cosmetics industries with cheaper and more effective bioplastic packaging.

For more details please click on the following link
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A new calendaring grade of thermoplastic polyurethane elastomers

The Dow Chemical Company has introduced a new calendaring-grade of thermoplastic polyurethane (TPU) elastomers to be commercialized under the PELLETHANE™ brand. The new elastomer can offer performance and processing advantages for a wide array of demanding applications including fabrics, non-wovens and industrial products such as conveyor belts and sewer liners.

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Explosion at Siberian plant kills four workers

An explosion at a Siberian plant killed 4 workers and injured four others. The blast occurred at Russia's largest PVC manufacturer, Sayanskchimplast's plant located at Sayansk, in Irkutsk Oblast. The explosion took place during the production of ethylene dichloride, a highly toxic chemical.

Shaw Group awarded ethylene plant contracts in China

The Shaw Group has been awarded a contract to develop two ethylene plants in China, each with a capacity to produce 800,000 tons of ethylene. The plants will be at two different separate locations and will be built for PetroChina, a subsidiary of the state-owned China National Petroleum Corp. The contract calls for technology licensing, engineering, procurement of key equipment and materials, and startup services.

SRF plans petrochem complex in Gujarat

SRF, a leading player in technical textiles and refrigerant gases is exploring possibilities of setting up a Rs 2,000 crore petrochemical complex in South Gujarat. SRF also has operating interests in packaging films and pharma intermediates.

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BASF wins lawsuit against Lyondell Chemical Co. for overpricing

German chemicals company BASF AG has won a lawsuit against its U.S.-based supplier Lyondell Chemical Co. for overpricing of propylene oxide.

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Glazing offers design freedom and practical performance for stadiums

GE Plastics's Lexan* Thermoclear* sheet is being used for the roofs of three stadiums under construction for the UEFA Euro 2008™ football championship. This versatile thermoplastic glazing material, which has been used in arena roofing and other glazing for more than 25 years, delivers a unique combination of advantages in roofing for large, complex structures like stadiums: light weight, high impact resistance, and the ability to be easily formed into compact shapes.

For more details please click on the following link
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One unit of Total contingently starts up

Total PetroChemicals USA, a unit of France's Total SA, plans to contingently restart Unit 817, a Shell Clause off-gas treating (SCOT) unit, at its Port Arthur, Texas refinery. The startup was contingent to the return to normal operations of unit 819, that currently seems unlikely.

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Petrobras to increase petrochem investment by 30% through 2010

Petrobas -Brazil's state oil company Petrobras, will increase investment in petrochemicals by 30%, hiking the investment amount to US$4.3 bln from the previous plan. Spending on biofuels will rise 25% to US$1.5 bln. These investments form part of the US$112.4 bln earmarked by Petrobas to be spent through 2012 - a 29% increase over its previous four-year investment plan.

Pre-feasibility report negates viability of ONGC's Kakinada refinery

Oil and Natural Gas Corporation's (ONGC) proposed greenfield refinery at Kakinada, Andhra Pradesh, has been found commercially unviable in a pre-feasibility report prepared by Consultants Engineers India Ltd (EIL). A detailed feasibility report on the 15-mln ton refinery, for which the company had marked an investment of about Rs 22,000 crore, is expected to be finalised later this month.

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RIL delays AGM as approvals for IPCL merger get delayed

Reliance Industries (RIL), has delayed this years' annual general meeting (AGM), as it has not yet received approvals for merger of Indian Petrochemicals (IPCL) with itself. Reliance normally holds its AGM in June-August for adoption of the annual reports for the year ending March. But this time the RIL shareholders may have to wait till September as the company intends to hold an AGM for the merged entity.

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Borealis announces record net profit

o Strong growth of net profit in Q2 2007 - 50% increase on the same period in 2006o Asset development programmes in Europe and the Middle East continue to increase competitivenesso Acquisition of AMI extends base chemicals offering.

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Polystyrene Market Update in North America, August 13, 2007

Volume: Fair Price: Steady Spot Polystyrene prices remain mostly within the range of the $.70s/lb. The high price level of resin has damaged demand and producers have responded by reducing production capacity (some indefinitely) and restricting operating rates. Disciplined production has limited spot supplies providing buyers with little alternative to prime resin contracts.

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Polypropylene Market Update in North America, August 13, 2007

In very early August Generic Prime Polypropylene offers were shown to the market priced $.03 - .04/lb higher than in July. This reflected producers' intent to raise prices for August resin contracts since feedstocks were again on the rise.

For more details please click on the following link
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Polyethylene Market Update in North America, August 13, 2007

The spot Polyethylene market was considerably more active than we expected for the first full week of August. While several producers have held their spot offers $.04/lb higher in line with their increase nominated for August contracts, others have kept their spot offers steady to just slightly above July levels.

For more details please click on the following link
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Polymer Market Update in North America, August 13, 2007

The commodity resin markets were active this past week. Spot Polyethylene trading volumes were strong as most producers pushed back their August $.04/lb price increase effort until September 1st, but also nominated another $.05/lb for Sep 15th.

For more details please click on the following link
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PE for Micro-Irrigation applications help to reduce water loss due to leakage

FINGERPRINT™ polyethylene introduced by Dow is an effective in increasing the performance of micro-irrigation systems while helping to reduce the amount of water lost to leakage.

For more details please click on the following link
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EU approves proposed acquisition of Lanxess by the INEOS Group

Under the EU Merger Regulation, the European Commission has cleared the proposed acquisition of the thermoplastic engineering business of the German company Lanxess by INEOS, a UK based group involved in intermediate and speciality chemicals.

For more details please click on the following link
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Oil prices rise to US$72 levels in Asia as report predicts tight supplies amid growin...

International Energy Agency that predicts global demand for oil will grow by 2.5% next year and that production and supply will not keep up. Oil prices rose in Asian trading after this prediction about tight oil supply amid growing world demand.

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Lotte Daesan shuts PP production due to unplanned outage

South Korea's Lotte Daesan Petrochemical Corp. has shut its 250,000 tpa polypropylene production on account of an unexpected outage for approximately one week.

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PU crashpads in automotives reduce impact force in case of accidents

Crashpads made of polyurethane (PU) rigid foam are used in automobile interiors to reduce the impact force in case of accidents, thus protecting the driver and passengers from serious injury.

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New material for adaptive lighting solution that provides enhanced night visibility

Valeo, the world's leading manufacturer of automotive lighting products, has chosen DuPont™ Zytel® HTN PPA for use in adaptive front lighting systems that are used in models such as the Volkswagen Passat or the Citroen C4. Such systems provide drivers with enhanced night visibility for improved safety.

For more details please click on the following link
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Petrobras and Unipar in talks to amalgamate

With a view to boost production to world scale and increase competitiveness, Brazil's state-controlled oil company - Petroleo Brasileiro SA and União de Industrias Petroqumicas, are in talks to merge their stakes into a single company.

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Reliance to close down Kurkumbh MEG facility

Reliance Industries (RIL) plans to close down its polyester intermediate mono-ethylene glycol (MEG) manufacturing facility at Kurkumbh near Pune.

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Accident at Tomskneftekhim kills one

One person was killed and two others suffered injuries as a result of an accident at Tomskneftekhim chemicals plant early on Sunday. The incident occurred when accidental release of ethylene during the testing of a compressor facility led to an explosion and fire.

Braskem records 33% growth in H1-07

Braskem's net income reached 9.4 bln reais (US$ 4.9 bln) in H1-07, a 17% increase over the same months of 2006.

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Oil prices stabilize at US$71 a barrel

Oil prices stabilized at US$71 levels in Asian trading. Light, sweet crude for September delivery steadied at US$71.58 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore.

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Singapore's SP Chemicals get nod to build petrochemical facility in Vietnam

Singapore's SP Chemicals has received approval from Vietnam's central government to build a petrochemical facility and an industrial park in the central province of Phu Yen.

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Sinopec discussing South China refinery and petrochem project with KPC, Dow, Shell

Sinopec Corp. is holding talks with Kuwait Petroleum Corp, Dow Chemical Co. and Royal Dutch Shell to build a major refinery and petrochemical plant in Guangdong, South China.

For more details please click on the following link
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Ecuador refinery to be a part of US$10 bln petrochemical complex

A refinery planned to be built by state-owned oil companies Petroecuador and Petroleos de Venezuela will form part of a US$10 bln petrochemical complex. Ecuador aspires to have the other Latin American companies as partners for the project that will cater to domestic demand as well as exports to Asia.

US$40 bln plan to convert Panama into a refinery and petrochem hub for Latin America

Energias - a consortium of private firms led by Spain's Tecnicas Reunidas will present a 20 year plan worth US$40 bln to transform Panama into a refinery and petrochemical hub for Latin America. The consortium comprises of private investors from USA to Asia.

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Reliance to invest US$10 mln in oil refining, petrochemicals and plastics sector in E...

India's Reliance Industries plans to US$10 billion in the oil refining, petrochemicals and plastics industries in Egypt.

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India seeks investors from Gulf for refining and petrochemical projects

In a bid to become a leading exporter of refined petroleum products, India is seeking partners from UAE and Gulf to invest in refining and petrochemical projects in Andhra Pradesh, Karnataka, Orissa and Gujarat. Investors from the Gulf region have the advantage of geographical proximity with India, and the surplus liquidity to invest as well as the intent to diversify its basket of foreign investments.

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GAIL and Reliance to team up for overseas petrochem projects?

GAIL (India) Ltd. and Reliance Industries Ltd. (RIL) could team up for setting up overseas petrochemical projects. This is in pursuit to the decision by the board of GAIL that permits the company to continue looking at strategic options for expanding its petrochemicals business.

For more details please click on the following link
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Acquisition of Suzano marks a major step towards consolidation of Latin America's pet...

The US$1.1 bln acquisition of petrochemicals company Suzano Petroquimica by Petrobras is a major step toward consolidation of the sector in Latin America's largest nation.

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Sumitomo Chemical plans PP compound expansion in North America and Europe

Sumitomo Chemical plans to expand polypropylene (PP) compound business in both North America and Europe. Sumitomo plans to set up new manufacturing and marketing operations in the two continents as part of its global strategy to develop its polypropylene business - its core petrochemical interest.

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Ineos restarts G4 cracker at Grangemouth

Following scheduled maintenance, Ineos Polyolefins (Lyndhurst,UK) attempted an unsuccessful start up of its Scottish facility at Grangemouth. This caused the company to declare "force majeure" for ethylene (C2), propylene (C3) and butadiene on 29 May 2007.

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Celanese to relocate engineering polymer subsidiary Ticona

The board of directors at Celanese (Dallas, TX) has officially approved relocation of engineering polymer producing subsidiary Ticona from its present location in Kelsterbach, Germany southwest of Frankfurt to the Hüchst Industrial Park.

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Propylene and polypropylene complex planned in Tobolsk

The Tyumen regional government and SIBUR subsidiary Tobolsk Polymer have signed an investment agreement on state support for a project to build a propylene and polypropylene complex in Tobolsk.

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Oil prices stay above US$72 a barrel as market awaits weekly report

Light, sweet crude for September delivery dipped to US$72.20 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. September Brent crude fell 38 cents to $71.42 a barrel on the ICE futures exchange in London.

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Technip awarded a basic design and engineering contract by Sinopec YPC

Technip has been awarded a basic design and engineering contract by Sinopec Yangzi Petrochemical Co. Ltd. (YPC) for a syngas plant located in Nanjing, China. The plant is expected to become operational in the first half of 2009.

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GAIL to partner private and public sector companies to set up petrochem hub

In a bid to pull alongside global competition and consolidation process, GAIL India Ltd. plans to venture into the business of setting up a petrochemical hub by joining hands with private and public sector companies. Further details will be available when certain clearances are approved within a month. GAIL has already selected South India as the location for setting up this petrochemical hub. Visakhapatnam in Andhra Pradesh is likely to be the location.

Price trends of oil, polymer feedstocks & commodity polymers for the week of 6th Augu...

Crude oil futures declined to US$75.48 for September delivery in the week of 6th August 2007 on the New York Mercantile Exchange. This dip is in continuity to the decline prompted by news of a cooling U.S. job market, indicating an economy slowdown.

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BIPC's quarterly petrochemical production exceeds 2 mln tons

Bandar Imam Petrochemical Complex has produced more than two million tons of petrochemicals during the first four months of the current Iranian year, marking a 5% increase in production as against last year's production during the same period.

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Oil prices dip below US$75 a barrel

Oil prices dipped below US$75 on Monday in Asia. This dip is in continuity to the decline prompted on Friday by news of a cooling U.S. job market. The contract declined US$1.38 to settle at US$75.48 a barrel Friday after the U.S.

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Chevron Phillips Chemical commences construction on PPS facility

Chevron Phillips Chemical Company LP is to commence construction on a 22 mln pound pa Ryton® polyphenylene sulfide (PPS) manufacturing facility at Texas.

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Iran plans to build oil refinery and petrochemicals plant in Senegal

Pursuant to last weeks' meeting with Iranian officials hosted by Senegal's President, Iran plans to build oil refinery and petrochemicals plant in Senegal. Iran also promised to speed up the development of a car assembly plant for state-owned carmaker Iran Khodro in the west African nation.

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Petrobras to acquire controlling stake in Suzano Petrochem

Brazilian state-run oil giant Petrobras plans to acquire a 76% stake in petrochemicals company Suzano Petroquimica SA, for 2.1 bln reais ($1.1 bln). This acquisition is Petrobras' second major Brazilian petrochemicals deal this year.

For more details please click on the following link
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EU grants approval to GE to sell plastics division to SABIC

Sale of General Electric Co.'s plastics division to Saudi Basic Industries Corp. (SABIC) for about US$11.6 bln (€8.63 bln) has been granted approval by the EU. This sale is an important step in GE's strategy to sell slower growth units, so it can invest in high-growth, high-technology businesses like health care and water processing technology.

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High performance cast PET film extrusion lines provides economy of scale

High performance cast PET film extrusion lines, a further strategic development of Brückner Formtec, have secured a huge success on international markets. Three such Formtec lines are currently in assembly - two of which shall be delivered by the end of this year.

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Oil prices remain range bound

Mixed analysis of U.S. fuel stocks data has allowed oil prices to remain flat, after the previous session's moderate rise. Light, sweet crude for September delivery rose by barely 2 cents to US$76.88 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. September Brent crude slipped to US$75.68 a barrel on the ICE futures exchange in London.

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Small blaze at Dow's PE site

A fire was reported at Dow's Dow's Plant B polyethylene site. The fire at B-2500 block was extinguished by Dow emergency crews. No injuries or damages were reported and plant operation has not been slowed.

Dow officials are investigating the cause of the fire.

Abu Dhabi to invest US$3 bln for expansion of Borouge

Abu Dhabi will invest Dh11 bln (US$3 bln) to expand the capacity of the Borouge petrochemicals facility to 2 million tpa.

For more details please click on the following link
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Titan Petrochemicals Group plans market to trade spot petrochemical contracts

China's largest oil-supertanker owner Titan Petrochemicals Group plans to set up a market to trade spot petrochemical contracts in the nation's south this year. Trading will start with fuel oil and liquid chemical products.

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Basell makes acquisition offer for Shell's Oil Refinery and Petrochemical Plant in Fr...

Basell has made an offer to buy the Shell oil refinery and associated infrastructure and businesses at the Berre l'Etang petrochemical complex in France at an agreed purchase price of US$700 mln.

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Board of Supreme Petrochem to consider dividend

The board of directors of Supreme Petrochem, to be held on Aug. 9, 2007, will consider recommendation of dividend on equity shares of the company.

For more details please click on the following link

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Huntsman closes sale of U.S. Polymers Business

Huntsman and Flint Hills Resources, LP, an independent, wholly owned subsidiary of Koch Industries, Inc., have closed on the sale of Huntsman's U.S. Polymers business for approximately US$350 mln. The US$350 million at the closing, includes the estimated value of associated inventory for its U.S. Polymers business, which remains subject to a post-closing adjustment.

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Thai PX implements ExxonMobil's licensed Olgone Unit

ExxonMobil's new Olgone technology has been successfully implemented by Thai Paraxylene, marking the first licensed application in Thailand of ExxonMobil's new technology. The Olgone process implemented at Thai PX's Sriracha petrochemical complex removes olefinic contaminants from a heavy reformate feed, replacing atraditional clay treatment process.

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Unipetrol Group to amalgamate several units

As part of its ongoing transformation, Czech petrochemicals company Unipetrol Group plans to amalgamate Chemopetrol, Unitpetrol Rafinerie and Unipetrol Refineries, Petrochemicals, Agrochemicals units by way of a merger.

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EU approval for state aid to Repsol for expansion in Portugal

The European Commission has granted approval to the Portugese government to provide a EUR 150 mln (US$204 mln) investment. The investment will go towards Repsol Polimeros for the construction of linear low-density polyethylene (LLDPE) and polypropylene (PP) facilities and expansion of ethylene capacity at the company's site in Sines, Portugal.

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I G Petrochemicals Ltd mulls acquisition of German company

The world’s third largest producer of Phthalic Anhydride- I G Petrochemicals Ltd. (IGPL), is mulling overseas acquisition in Germany worth over US$300 million. Currently, the company has concluded a study of three to four German majors and plans to complete the acquisition very soon.

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New Composites offer better alternative to Lead in Radiation Shielding Applications

GE Plastics has launched a new line of thermoplastic materials with high specific gravity (HSG) that may replace lead in many healthcare applications that call for radiation shielding. Medical equipment and devices that produce x-rays and gamma rays must be shielded to protect operators, clinicians, patients, and sensitiveelectronic components from tube leakage and room scatter.

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Lack of government policies and slow industry uptake of biopackaging affect drink

Beverage packaging in compostable bottles saw a 150% rise in global sales this year over last years levels. 10 mln litres of beverages were packaged in compostable bottles last year, representing a retail market value of €23 mln as per a report by Zenith International.

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IOC plans 2.4 mln tons of naphtha export

India's top state-run refiner Indian Oil Corp. plans to export 2.4 mln tons of naphtha in the year ending March 2008. This is a sharp rise from last years export levels of 1.6 mln tons.

LLDPE futures debut at Dalian Commodity Exchange

Dalian Commodity Exchange has introduced linear low-density polyethylene (LLDPE) futures, in a move that will be conducive to hedging against risks for downstream industry of the petrochemical industry. This in turn will help boost development of China's petrochemical industry that is currently dependent on imported petrochemical products.

BASF Posts Very Strong Results in Q2-07

In the second quarter and first half of 2007, BASF has exceeded the record results posted in the same periods of the previous year. In the second quarter, BASF increased sales by 19% and income from operations (EBIT) before special items by 6%.

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IPCL Q1 net profit up 87%

Indian Petrochemicals Corporation Ltd (IPCL), has recorded an 87% increase in its net profit for the quarter ended June 30. Profits rose 86.66% to Rs 336 crore compared to Rs 180 crore a year ago.

Total income (net of excise), decreased by 6.81% to Rs 2,870 crore for the quarter ended June 30, as compared to Rs 3,080 crore for the corresponding quarter a year ago.

Algeria to invest US$20 bln in petrochemical industry by 2008

Algeria will invest US$20 bln in its petrochemical industry by 2008. Of the two finalized projects, one is with Total and one with the international consortium Armalt. The other 4-5 petrochemical projects will be awared in the next few months, before 2008.

Dow and Solvay to partner in Hydrogen Peroxide plant in Thailand

The Dow Chemical Company and Solvay will partner in a hydrogen peroxide (HP) plant in Thailand. The HP plant will be the largest in the world, with a capacity of over 330,000 tpa at 100% concentration, and is scheduled to be operational in 2010.

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Nippon Oil Q1 profits surge 84% largely due to rising petrochem demand

Nippon Oil Corp. profit surged 84% in the first-quarter, prompting Japan's biggest refiner to raise its full-year forecast as higher crude oil prices boost the value of the company's inventories. Nippon Oil is benefiting from rising Chinese demand for petrochemicals, increasing output of products such as paraxylene.

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Oil prices spike past US$78 a barrel

Light, sweet crude for September delivery rose by more than a dollar to US$78.21 a barrel on the New York Mercantile Exchange, surpassing the same days' settlement price record of US$77.03. September Brent crude rose to US$77.05 a barrel on the ICE futures exchange in London.

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Total to partner petrochemical JV in Algeria

The Algerian oil and gas group Sonatrach and Total Petrochemicals are to partner ina petrochemical project in Arzew near Oran, Algeria. The complex, to be jointlybuild by the two partners is to include:

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Price trends of oil, polymer feedstocks & commodity polymers in Asia for the week of ...

Growing demand has caused oil prices to surge above US$75. Naphtha did not move in tandem with strong crude prices, and in fact dipped.

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Polystyrene Market Update in North America, July 30, 2007

The Polystyrene market firmed a little this week. Some of the cheap offers, particularly lower grade, which have been hanging over the market seemed to have moved. New offers for better grade materials have come in at slightly higher prices.

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Polypropylene Market Update in North America, July 30, 2007

The Polypropylene market was mostly steady to perhaps $.005/lb lower this week. While the spot market had been trading about $.02/lb higher during July, it eased a tad after July resin contacts settled just $.01/lb higher. Producers had nominated a $.03-.04/lb price increase, but Propylene monomer contracts only settled $.0075/lb higher and since monomer and resin contracts have basically moved lock-step during 2007, the indices only gave resin producers a penny increase for July.

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Polyethylene Market Update in North America, July 30, 2007

It was an interesting week for Polyethylene trading, with anxiety building ahead of contract settlements. After a busy previous week, the spot market started out quiet and steady on Monday. A heavy flow of offers began on Tuesday, prices were mostly $.03/lb higher than end of June levels.

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Polymer Market Update in North America, July 30, 2007

The Spot resin markets were very busy this past week; the market was generally well supplied with a heavy flow of offers, particularly Polyethylene. When July Polyethylene contracts settled $.05/lb higher midweek, discounted spot offers (mostly $.02-.03/lb above June) became a relative bargain and active spot trading ensued at this level.
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BASF in talks with Dow to build Thai propylene oxide plant

Negotiations between BASF AG and Dow Chemical Company are ongoing to build a 390,000 tons propylene oxide (PO) manufacturing facility in Map Ta Phut, Thailand.

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Polymer price watch, 27 July 2007

Crude oil remained firm for the week ending 27 July, at over US$75 a barrel with supplies not being restored completely in Nigeria and high demand in the summer driving season. London Brent crude, settled at US$75.80 a barrel while New York Light sweet closed at US$ 74.88 a barrel. Naphtha prices declined from US$ 5-28 a ton on declining crude oil prices in the week ending 27 July.

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Blowing Agents and Foaming Processes Conference

Smithers Rapra Technology, a subsidiary of the US-based independent testing, consulting and contract research organisation, The Smithers Group, is pleased to announce the next Blowing Agents and Foaming Processes Conference, to be held in Berlin, Germany, from 20-21 May 2008.
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GAIL records 16% rise in net profits in QI-07

GAIL (India) Ltd. has recorded an impressive growth in Q1-07. Profit After tax (PAT) has increased by 16% to Rs.685 crore in Q1-07 as against Rs 592 crore in the corresponding quarter in the previous year. Turnover of the Company (excluding Excise Duty) has increased by 4% to Rs. 4,246 crore in the first quarter of 2007-08 as against Rs 4078 crore in the first quarter of the previous financial year.

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Reliance reports net profit of Rs. 3,264 crore in Q1-07

Reliance Industries Ltd (RIL) has reported a net profit of Rs. 3,264 crore for Q1-07, ended June 30, 2007, as compared to Rs. 2,547 crore in the same period in the previous year- recording an increase of 28.2%. The turnover increased by 12.7% to Rs. 29,493 crore and the cash profit by 23.7% to Rs. 4,527 crore. The increase in revenue was due to a 3% rise in prices and 10% growth in volume.

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Shenyang selects UNIPOL™ PE process for 100,000 tpa PE plant

Shenyang Paraffin-Wax Chemical Co. Ltd., an affiliate of Shenyang Chemical Group, has selected Univation's UNIPOL PE process for a 100,000 tpa polyethylene plant.

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Polystyrene prices jump 5¢/lb

Three months of stability in higher benzene and styrene costs, along with stable demand from end users, has allowed polystyrene producers to finally implement a 5¢/lb price increase this month that had been proposed to 92¢ some weeks ago.

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Global Reinforced Plastics market to cross 9 mln tons by 2010

Reinforced plastics, also known as polymer matrix composites or composite plastics or composites, refer to a specific plastic composition featuring embedded fibrous reinforcements, which render superior strength properties than those of the base resin.


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New petrochemical complex planned in Volgograd, Russia

Russia`s Nikokhim is mulling a new petrochemical complex at Volgagard. The project encompasses processing 2 mln tpa of direct-flow benzene and output of products worth $2.3 bln pa including 500,000 tpa PVC, 450,000 tpa polyethylene, 400,000 tpa of polypropylene and other products.

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Plastics Create Huge Concern for Glass Packaging Market

Sales of Glass Packaging Market will reach US$36.5 bln by 2010, exhibiting a meager growth rate. This performance will be attributed to performance benefits and technological innovations in plastics. The strongest threat to the glass packaging industry is posed by the plastic industry, which has seen rapid advancements in recent years. Plastic packaging industry is expected to far outpace not only glass, but other packaging materials also.

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Oil prices drop by one dollar amid speculative selling

After peaking to US$77 a barrel earlier in the day, oil prices dropped by almost one dollar per barrel, amid speculative selling. Light, sweet crude for September delivery fell to US$74.95 a barrel on the New York Mercantile Exchange. September Brent crude settled at US$75.18 a barrel Thursday on the ICE Futures exchange in London. The oil market's afternoon reversal couldn't be tied to any of the usual fundamental price movement theories.

Lyondell sued over purported low value of Basell deal

A labor union pension fund has sued Lyondell Chemical Co. for entering into a deal to sell the company for what it said is too low a price.

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New environmental panel in Taiwan denounced

Based on the names of new members appointed to an environmental impact evaluation commission, environmentalists have expressed grave concern about the future of the environmental protection campaign in Taiwan.

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New PET compounds and long glass fibre reinforced polymers

New PET compounds and long glass fibre reinforced polymers with improved properties will be the focal point of the presentation of compounding specialist TechnoCompound, at K 2007.

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M&G to build 1 mln ton PET plant in North America

The M&G Group plans to build a new generation technology PET plant in USA, with an annual capacity of 800,000 tons from a single line. While 650,000 tpa is scheduled to come on-stream in H1-09, the balance 150,000 tons will come onstream as per market requirements. Plant location will be announced upon finalisation of agreements and details, in a few weeks.
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Making Additives Add Up for Polyolefins

Polyolefins are very versatile polymers used in a wide variety of applications frompackaging film to geomembranes and pipe. The polymer and the additives are variedto match the property requirements for each application.

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