Global demand for ethylene estimated to outpace supply additions through 2015, leading to shortages

North America’s second-biggest ethylene maker LyondellBasell Industries NV estimates global demand for ethylene to outpace supply additions through 2015, leading to shortages. Ethylene demand will risse by at least 70 bln lbs through 2015, driven mostly by Asia, requiring 35 new crackers.

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Petronas’ new US$20 bln integrated refinery cum petrochem complex to be commissioned by 2016

Petronas will construct a US$20 billion integrated refinery and petrochemicals complex in Southern Johor to be commissioned by end-2016. The project, known as the Refinery and Petrochemicals Integrateed Development (RAPID) is at the detailed feasibility study stage and would comprise a crude oil refinery, a naphtha cracker that would produce about 3 mln tpa of ethylene, propylene, C4 and C5 olefins and a petrochemicals and polymer complex that would produce differentiated and highly-specialised chemicals.

For more details on Petronas’ new US$20 bln integrated refinery cum petrochem complex to be commissioned by 2016 click here

DuPont Packaging & Industrial Polymers to increase capacity at Dordrecht, Netherlands

DuPont Packaging & Industrial Polymers today announced that it will increase capacity at its site at Dordrecht, Netherlands, to meet strong demand for specialty copolymers, DuPont Bynel adhesive resinns, DuPont Fusabond modifier resins and DuPont Appeel lidding sealants used in packaging, construction and industrial markets.

For more details on DuPont Packaging & Industrial Polymers to increase capacity at Dordrecht, Netherlands click here

Formosa likely to defer May and June naphtha shipments

It is likely that Taiwan's Formosa Petrochemical Corp may defer some shipments of naphtha feedstock by a month, after it’s No. 1 cracker was forced to shut down following a fire that hit a liquefied ppetroleum gas (LPG) pipeline, as per Reuters.

For more details on Formosa likely to defer May and June naphtha shipments click here

Softer local PE prices in China putting pressure on imports

Inside China, locally held PE prices moved lower this week as distributors reduced prices in hopes of attracting greater buying interest, as per Chemorbis. AS domestic PE is currently trading at a disscount when compared with prevailing import prices, sellers offering import cargoes are likely to face some downward pressure over the coming week.

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PetroLogistics restarts 1.2 bln lb propane dehydrogenation unit in Houston

US propylene maker PetroLogistics has restarted its 1.2 bln lb propane dehydrogenation unit in Houston, Texas, after a brief shutdown, as per Platts. Low air supply to the waste heat boiler caused thee unit to shut down Tuesday evening.

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Fire at Formosa’s Mailiao plant forces shutdown of ethylene and aromatics facilities

A fire at Formosa Petrochemical Corp's Mailiao plant in central Taiwan has forced the shutdown of ethylene and aromatics facilities, as per Reuters. The fire in a pipe that feeds raw materials to the units, had been put out at around 5:45 a.

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Naphtha prices in Asia slip to four-session low

Asia's naphtha price slipped by over 5% to a four-session low on Thursday, along with fall in naphtha cracks. However, spot premiums remained at firm levels and forced South Korean buyer Honam to canccel a purchase, as per Reuters.

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Petron Q1 revenue buoyed by petrochemical revenues

Philippines’ largest oil refiner and retailer- Petron Corp.’s Q1-2011 income almost doubled from Q1-2010, due to stronger revenue from its petrochemical business. Q1 income stood at P3.4 bln.
Rises iin crude prices propped up prices of petrochemical products such benzene, toluene, and xylene, while supply tightness in propylene enabled the company to capture incremental margins from its production streams.

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Thailand to ask Indonesia to stop safeguard measures against Thai polypropylene imports

The Indonesian government started a dumping investigation last month against polypropylene exported by Siam Cement Group. Thailand will ask Indonesia not to apply safeguard measures against imports off Thai polypropylene (PP), as per Bangkokpost.

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Almost 100 countries to lose tariff breaks for plastics exports to European Union under a planned reform

Brazil, Argentina, Uruguay, Russia, Saudi Arabia, United Arab Emirates and Iran are among almost 100 countries expected to lose tariff breaks for their plastics exports to the European Union (EU), undder a planned reform of the EU’s Generalised System of Preferences (GSP) system, as per Plastics and Rubber Weekly.

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Naphtha/gasoline cracks in Asia may not continue to stay firm

Asia's naphtha prices rose for the third consecutive day on Wednesday, to a four-session high, and have recovered most of the US$106/ton it lost in a single day last Friday, as per Reuters. Some selleers continue to be upbeat, on expectations of tight supplies next month.

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Ma’aden and Sahara in new caustic soda and ethylene dichloride (EDC) joint venture

The Saudi Arabian Mining Company (Ma’aden) and Sahara Petrochemical Company (Sahara) have established a new joint venture to produce caustic soda and ethylene dichloride (EDC). The US$750 mln (SR2.81 billion) project, located within Sahara’s complex in Jubail Industrial City, will produce 250,000 tpa of caustic soda and 300,000 tpa of EDC.

For more details on Ma’aden and Sahara in new caustic soda and ethylene dichloride (EDC) joint venture click here

Local HIPS carries large premium over GPPS in Italy

HIPS, in Italy’s local market has been trading at a high premium when compared to GPPS for some time. The relative strength of the HIPS market mainly stems from lack of butadiene feedstock and higher upstream costs.

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Indonesia's Chandra Asri skips spot naphtha purchases in June

Indonesia's Chandra Asri will not buy any spot naphtha cargoes for June as it advances a medium range-sized term cargo scheduled for delivery into Anyer in July to meet its June requirements, as per PPlatts.

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Changes in compounding industry in Europe, South America and Asia

The effects of the global recession on the global thermoplastics compounding industry is documented in a series of reports published by Applied Market Information Ltd. (AMI). While the industry continnues to surge ahead in Asia and Latin America, the European market has been through a period of shrinking demand that has seen compounders reorganise their operations.

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Iran’s plans to increase petrochem capacity by 64 mln tons through 2015 requires US$49 bln of investments

Petrochemical production capacity in Iran is expected to increase by 64 mln tons over 5 years through 2015 but requires investments worth $49 billion, as per Managing Director of the National Petrocheemical Company (NPC).

For more details on Iran’s plans to increase petrochem capacity by 64 mln tons through 2015 requires US$49 bln of investments click here

NOVA inks MOU for a long-term supply of ethane from the Marcellus Shale Basin

NOVA Chemicals Corporation has signed a memorandum of understanding (MoU) with a wholly-owned subsidiary of Range Resources Corporation for a long-term supply of ethane from the Marcellus Shale Basin to its Corunna cracker.

For more details on NOVA inks MOU for a long-term supply of ethane from the Marcellus Shale Basin click here

Iran’s plans to increase petrochem capacity by 64 mln tons through 2015 requires US$49 bln of investments

Petrochemical production capacity in Iran is expected to increase by 64 mln tons over 5 years through 2015 but requires investments worth $49 billion, as per Managing Director of the National Petrocheemical Company (NPC).

For more details on Iran’s plans to increase petrochem capacity by 64 mln tons through 2015 requires US$49 bln of investments click here

Formosa’s resumes production at CDU, 540,000 bpd refinery running at 87% capacity

Formosa Petrochemical Corp is running its 540,000 bpd refinery at around 87% after a crude distillation unit (CDU) resumed production in late April following a planned maintenance, as per Reuters. It has also restored runs at its 2.

For more details on Formosa’s resumes production at CDU, 540,000 bpd refinery running at 87% capacity click here

Plastic packaging with durable barrier properties

Netstal-Maschinen AG and Glaroform AG from Switzerland and Ilsemann Automation from Germany are working together to replace existing packaging and their barrier properties with plastic compound solutiions that are of high quality, environmentally-friendly and cost-efficient to produce as well as reclosable.

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European naphtha cargo range gains US $27/ton on higher crude oil, robust crack spread

Driven by higher crude oil prices and a more robust crack spread, European naphtha cargo range made gains on Tuesday morning of US$27/ton, as per ICIS, assessed at US$1014–1,022/ton CIF (cost, insurannce and freight) NWE.

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Downward revision of European PVC prices for May in Italy

For May, European PVC sellers had announced initial price hikes of up to €50/ton in Italy’s spot market following a stable to slightly firmer PVC trend seen in April, as per Chemorbis. Sellers justifiied their new hike requests by pointing to the higher May ethylene contract and producers’ need for improved margins.

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Crude oil starts the week above US$100

Crude oil for June delivery started the week above the hundred dollar mark at US$102. Last week saw a 14.7% decline in oil futures, but recoiled by over five dollars at the start of the week on strongg investor sentiments.

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Turkey’s Köksan awards contract to Uhde-Fisch for new 216,000 tpa PET plant

Turkish PET perform processor Köksan has contracted plant construction engineering firm Uhde-Fischer to build a new 216,000 tpa plant for the production of PET in Gaziantep, Turkey, as per Plasticstodday.

For more details on Turkey’s Köksan awards contract to Uhde-Fisch for new 216,000 tpa PET plant click here

Bayer in discussions with potential partners to develop natural gas petrochem facility in West Virginia

Bayer is in "solid discussions" with potential partners to develop a large petrochemical facility in West Virginia as per Charleston Daily Mail. Bayer owns property in New Martinsville and Kanawha Vallley, along with pipeline right-of-way between the two sites.

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Nizhnekamskneftekhim to supply styrene to Finnish EPS maker StyroChem from 2011 – 2013

Russian petrochemicals company Nizhnekamskneftekhim (NKNH) has inked a deal to supply styrene monomer valued at nearly €37 mln to the Finnish subsidiary of global expandable polystyrene (EPS) producerr StyroChem between 2011 and 2013.

For more details on Nizhnekamskneftekhim to supply styrene to Finnish EPS maker StyroChem from 2011 – 2013 click here

Enterprise Products Partners mulls expansion at polymer grade propylene fractionation facility at Texas

Enterprise Products Partners L.P. plans to expand its polymer grade propylene (PGP) fractionation facility at the partnership's Mont Belvieu, Texas complex, which will add on an annual basis, approximmately 7,500 bpd (500 mln lbs) of incremental PGP production.

For more details on Enterprise Products Partners mulls expansion at polymer grade propylene fractionation facility at Texas click here

Ticona plans to double production at Celstran long fiber reinforced thermoplastic unit in China

Ticona plans to nearly double production at its Celstran long fiber reinforced thermoplastic manufacturing unit in Nanjing, China, as per Plastics news. The unit came online in 2008 with an annual cappacity of 5,000 metric tons.

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Petrochemicals, consumer retail and telecom to drive growth at RIL in the next few years

Reliance Industries Ltd. will look to its petrochemicals, consumer retail and telecommunications businesses to drive growth in the next few years, as per company Chairman Mukesh Ambani. Reliance has embarked on a major capacity creation initiative in petrochemicals, encouraged by strong demand forecasts for petrochemicals and fibers, to become the world's largest integrated polyester producer.

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Strong profits of petrochem companies in Q1-2011 expected to continue into Q2

The recent slew of mainly higher first-quarter results from listed petrochemicals companies looks set to continue into the second quarter, with the recent fall in commodity prices potentially providinng a further boost, as per Platts.

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Saudi petrochemical, plastics exports to China touch a 15 month high

The value of Saudi Arabia’s non-oil exports to China, mainly chemicals used to make plastic products, reached the highest in 15 months, as per Bloomberg. The Kingdom’s non-oil exports to China reachedd 1.

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Successful commissioning of Ecoflex® plant at BASF SE in Ludwigshafen, Germany

In early 2011, Uhde Inventa-Fischer and BASF SE successfully commissioned a plant for the production of Ecoflex®, the biodegradable co-polyester polymer developed by BASF. The Ecoflex® polymer producttion capacity obtained at the Ludwigshafen production site could thus be increased from previously 14,000 to 74,000 tpa.

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Asian PS sellers maintain firm stance after last week’s upstream reversal

Asian PS sellers have recently held firm on their prices despite the significant declines witnessed in upstream markets late last week, as per Chemorbis. Regional producers brushed off this slump in upstream costs as only temporary while electing to leave prices unchanged after PS prices had risen along with styrene feedstock costs earlier in the week.

For more details on Asian PS sellers maintain firm stance after last week’s upstream reversal click here

Plasma Nitriding and PVD Coating: The Combi Treatment

The ongoing improvement in quality and performance for plastics and elastomers makes it necessary to upgrade tools for highest performance as well. Multiple wear mechanisms take effect on tools or ccomponents surface.

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India’s Ministry of Environment and Forests amended definition of plastic carry bags to benefit packaging industry

The definition of plastic carry bags has been amended by the Ministry of Environment and Forests as per Notification No: 249 dated: 04-02-2011. The definition covered all the flexible plastic packaginng in the definition of carry bags.

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BPCL to raise capacity at newly commissioned Bina refinery, looking for public offering of the unit

State-owned Bharat Petroleum Corp Ltd (BPCL) plans to raise capacity at its just-commissioned Bina refinery in Madhya Pradesh to 9 mln tons-a process that may take up to three years and may cost aboutt Rs 2,000 crore.

For more details on BPCL to raise capacity at newly commissioned Bina refinery, looking for public offering of the unit click here

JG Summit Holdings spend of US$700 mln on expansion in 2011 mostly allocated to petrochemical and airline businesses

JG Summit Holdings Inc. plans to spend US$700 mln on expansion this year, with most of the funds allocated to its petrochemical and airline businesses.
Sale of JG Summit's controlling stake in Digittal Telecommunications Philippines Inc.

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Work at Lepetkata gas cracker project gathers momentum after 2 years of tardy progress

Work at Brahmaputra Cracker and Polymer Ltd’s Lepetkata gas cracker project has gathered considerable momentum during the past few months after nearly two years of tardy progress. Going by the progresss, the project should be completed by July 2013 with commercial production expected to start in H2-2013.

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NW Europe gets more cargoes of refrigerated propane on thriving petrochem demand

More cargoes of refrigerated propane are flowing into Northwest Europe in thriving petchem sector demand, as per Platts. Onset of warm weather that has reduced demand from the traditional heating markket, has been replaced by emerging healthy demand from the petrochemicals sector where propane is used as an alternative feedstock to naphtha.

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Keyuan Petrochemicals successfully completes capacity expansion in China

Keyuan Petrochemicals has successfully completed capacity expansion in China that it commenced on March 19th, 2011. The company has completed all equipment installation and testing by the end of Aprill, propping capacity to 720,000 tons of annual production design capacity, up from 550,000 tons.

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Arkema declares force majeure on polyvinyl chloride production at Lavera

Arkema has declared force majeure on its polyvinyl chloride production site at Lavera, as per Platts. This will contribute to tightening PVC stocks further. Lavera produces 341,000 tpa of chlorine (255% of total French production), 980,000 tpa ethylene dichloride, and 460,000 tpa vinyl chloride monomer (40% of French production).

For more details on Arkema declares force majeure on polyvinyl chloride production at Lavera click here

Total to commence production of new generation EPS in 2013

Chemical firm Total Petrochemicals will begin manufacturing a new generation of EPS in 2013 following the acquisition of Polimeri's polystyrene manufacturing operation at Feluy in Belgium, as per Euroopean Plastics News.

For more details on Total to commence production of new generation EPS in 2013 click here

Taiwan's CPC to restart No. 3 Lin Yuan steam cracker

Taiwan's CPC Corporation plans to bring its No 3 Lin Yuan steam cracker back online at end last week, upon completion of a 30-35 day maintenance program, which started at the end of March, as per Plattts.

For more details on Taiwan's CPC to restart No. 3 Lin Yuan steam cracker click here

Bayer MaterialScience to invest 90 mln in expansion of polycarbonate production at Krefeld-Uerdingen

Bayer MaterialScience plans to expand production of polycarbonate at its Krefeld-Uerdingen site in Germany through an investment of about EUR 90 mln. The plant's current annual capacity is to graduallly reach 400,000 tons over the next four years in stepped increases.

For more details on Bayer MaterialScience to invest 90 mln in expansion of polycarbonate production at Krefeld-Uerdingen click here

Japan Mitsui completes liquidation of Mitsui Oil Asia Singapore

Japanese trading house Mitsui & Co. completed liquidation of Mitsui Oil Asia Singapore in March this year, as per Platts. MOA Singapore had incurred huge losses in naphtha trading in 2006, which was ddiscovered by the company that liquidated the positions, and losses snowballed to US$81 mln.

For more details on Japan Mitsui completes liquidation of Mitsui Oil Asia Singapore click here

Impact, Weight and Anti-Corrosion Coatings for Pipelines

The pipeline industry is continuing to grow worldwide to provide increased security of energy and water supply, and with hostile environmental conditions in many locations, the pipeline protection marrket is expanding to meet the requirements.

For more details on Impact, Weight and Anti-Corrosion Coatings for Pipelines click here

Latest innovations in vinyl additives and recipes

AMI’s 3rd annual international conference on PVC compounding was held in February 2011 in Dusseldorf, Germany to debate the latest innovations in vinyl additives and recipes. Jon Nash, Consultant at Applied Market Information, gave an overview of the recovery in the global markets: current demand is running at 34.

For more details on Latest innovations in vinyl additives and recipes click here

Does PP demand signal for an improvement in Egypt?

PP demand in Egypt has been performing poorly, partly as a result of the political turmoil in February as well as the persistent increases in the local and import markets since the beginning of the yeear, as per Chemorbis.

For more details on Does PP demand signal for an improvement in Egypt? click here

Import HDPE film gains premium over LLDPE film in China, SEA

Following several consecutive weeks in which HDPE film prices have gained ground relative to LDPE and LLDPE film prices, import HDPE film has gained a premium over import LLDPE film in both China and Southeast Asia, as per ChemOrbis.

For more details on Import HDPE film gains premium over LLDPE film in China, SEA click here

Turkey’s March polymer imports the highest ever for the month

Based on the data released by the Turkish Statistical Institute (TUIK), Turkey’s plastics imports posted a noticeable jump in March 2011 after seeing a slight decrease in February, as per . The countrry imported 420,000 tons of polymers in March, with the new total breeching even the January figure.

For more details on Turkey’s March polymer imports the highest ever for the month click here

Italy’s PP market up for May, prices at premium over other markets

Italy’s PP market has been slow throughout April as buyers who did not want to pay April increases mainly refrained from building stocks from the local market while the extended Easter holidays and thhe earlier talk of stabilizing prices also contributed to the slowness in trading activity, as per ChemOrbis.

For more details on Italy’s PP market up for May, prices at premium over other markets click here

LyondellBasell plans to boost US. ethylene output

LyondellBasell Industries plans to boost US ethylene output and may build another plant as rising shale-gas supplies increase the country’s competitiveness, as per Bloomberg.
Expansions at existing pplants, possibly in Channelview and La Port, Texas, over the next few years will increase ethylene output by about 500 mln lbs a year.

For more details on LyondellBasell plans to boost US. ethylene output click here

SK Innovation to shut PE, PP units in 2016

South Korea's SK Innovation is to shut its polyolefin units for scheduled maintenance in 2016 and not in 2011, as per Platts. The 2011 schedule that was reported by Platts last week was the turnaroundd schedule for 2010.

For more details on SK Innovation to shut PE, PP units in 2016 click here

Middle East petrochemicals sector investment reaches new heights

Petrochemicals production in the Gulf is expected to leap by almost 50% by 2015, at which point the region will be supplying a fifth of the world's petrochemicals output. According to a recent report by the Gulf Petrochemicals and Chemicals Association (GPCA), the annual petrochemicals production of the six Gulf states is expected to soar around 46% to 155 mln tpa by 2015, up from 105 mln.

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Samsung Engineering awarded US$230 mln contract to build a high density polyethylene plant in Western India

Samsung Engineering Co., South Korea's largest industrial plant builder, has said that it has won a USD 230 million order to build a high-density polyethylene (HDPE) plant in western India. Under thee deal with ONGC Petro-additions Ltd.

For more details on Samsung Engineering awarded US$230 mln contract to build a high density polyethylene plant in Western India click here

Gujarat government proposes Gujarat Petroleum, Chemical and Petrochemical Special Investment Region (GPCPSIR) for Dahej

The Gujarat government has proposed to set up a Gujarat Petroleum, Chemical and Petrochemical Special Investment Region (GPCPSIR) for Dahej industrial estate, Vagra and Bharuch taluka in Bharuch distrrict.

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Crude dips despite news of the death of Osama bin Laden

Crude futures settled lower after the death of Osama bin Laden stirred oil markets, as traders tried to gauge the effect on stability in the Middle East. Light, sweet crude for June delivery dipped too US$113.

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Asian players expect another month of PVC hikes

Players in Asia are predicting another month of PVC price hikes, although the rate of increase is expected to slow down following the rapid increases observed over the past two months, as per Chemorbiis.

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Trans Pacific Petrochemical Indotama signs a US$1.1 bln loan agreement with Deutsche Bank

Petrochemical company Trans Pacific Petrochemical Indotama, a unit of Tuban Petrochemical Industries, has signed a loan agreement with Deutsche Bank worth US$1.1 billion. This loan will be used to payy debt and for working capital.

For more details on Trans Pacific Petrochemical Indotama signs a US$1.1 bln loan agreement with Deutsche Bank click here

LOTTE keen to continue investing in Pakistan

LOTTE has invested US$200 mln in the Pakistan PTA project and 48 MW co-generation power plant, as per Pakistan Observer. LOTTE, the Korean Conglomerate is ready to make additional investment of US$4000-500 mln more to expand the LOTTE Pakistan project which is the main stay of the polyester-chain and key supplier of raw material for a large part of Pakistan’s exports.

For more details on LOTTE keen to continue investing in Pakistan click here

Dow Chemical expects lawsuit decision in case versus Kuwait Petrochemical

Dow Chemical Co. expects a resolution this year in its complaint against Kuwait's Petrochemical Industries Co. for backing out of a proposed US$17.4 bln joint venture in December 2008, as per Midland Daily News.

For more details on Dow Chemical expects lawsuit decision in case versus Kuwait Petrochemical click here

Mitsubishi Chem Corp inks MOU for strategic partnership with Genomatica for sustainable chemicals in Asia

Genomatica, an emerging leader in sustainable chemicals, and Mitsubishi Chemical Corporation, the eighth-largest chemical maker in the world, have inked a broad memorandum of understanding (MOU) outliining multiple potential areas of collaboration, as per PR Newswire.

For more details on Mitsubishi Chem Corp inks MOU for strategic partnership with Genomatica for sustainable chemicals in Asia click here

India’s fifth PCPIR to be located in Tamil Nadu get approval

India’s fifth Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) to come up in Tamil Nadu has been granted approval by the Cabinet secretary. The project, estimated to attract investmentt of Rs 92,000 crore, has received an in-principle approval from the Cabinet Secretary and is to go to the Cabinet Committee on Economic Affairs for approval.

For more details on India’s fifth PCPIR to be located in Tamil Nadu get approval click here

Toray Industries mulls unit to produce spunbond polypropylene in Indonesia

Japan's Toray Industries Inc plans to set up a unit, Toray Polytech Jakarta, in Indonesia in September that will produce upto 20,000 tpa spunbond polypropylene. The unit will require total investment of US$37.

For more details on Toray Industries mulls unit to produce spunbond polypropylene in Indonesia click here

New catalyst system for efficient manufacturing of Polyalkylene Carbonates

Empower Materials, headquartered in New Castle, Delaware has developed a new catalyst system for efficient manufacturing of Polyalkylene Carbonates, which are sustainable polymers traded under QPAC brrand name.

For more details on New catalyst system for efficient manufacturing of Polyalkylene Carbonates click here

Maintenance shutdown at SK Innovation’s PE, PP units

South Korea's SK Innovation plans to shut its polyolefin units for scheduled maintenance in October-November, as per Platts. The company's No. 1 220,000 tpa polyethylene unit will be closed for 24 dayys from October 12 to November 4, while its No.

For more details on Maintenance shutdown at SK Innovation’s PE, PP units click here

Dow Chemical Canada mulls US$41 mln expansion at Prentiss polyethylene plant

Dow Chemical Canada Inc. is planning a US$41 mln on expansion at its Prentiss polyethylene plant. The expansion project will take two years to complete and will comprise addition of new rail lines andd installation of additional equipment to produce new grades of polyethylene using butene as feedstock.

For more details on Dow Chemical Canada mulls US$41 mln expansion at Prentiss polyethylene plant click here

Asian benzene prices plunge

Asian benzene prices shed US$11.50/mt on Friday as market sentiment turned bearish over weaker crude futures, as per Platts. FOB Korea benchmark for Asian benzene was assessed at US$1226/mt. Japan’s largest refiner, JX Nippon Oil & Energy, settled May Asia contract price for benzene at US$1215/mt CFR, up US$65/mt (almost 6%) from its April settlement of US$1150/mt.

For more details on Asian benzene prices plunge click here

Asian naphtha prices peak to 32 month high, cracks rise on tight supplies

Start of the week saw Asian naphtha prices peak to a 32 month high while cracks have risen to a three-month peak with tight supplies supporting the bull run, as per Reuters. Demand has been steady to lower, amid tight supplies.

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Malaysia to maintain anti-dumping duties on imports of polyethylene terephthalate from Thailand

Malaysia has decided to maintain anti-dumping measures on imports of polyethylene terephthalate (PET) originating or exported from Thailand, as per Bernama. This follows an administrative review initiiated on Oct 14 last year on imports of the product from Taiwan, Indonesia, South Korea and Thailand upon the request from a domestic producer.

For more details on Malaysia to maintain anti-dumping duties on imports of polyethylene terephthalate from Thailand click here

QAPCO’s new low density polyethylene plant to be commercially launched in Q1-2012

QAPCO’s new low density polyethylene (LDPE-3) plant will have its commercial launch in the first quarter of 2012. To be located at Mesaieed, the new plant will have a capacity to produce 300,000 tpa LLDPE.

For more details on QAPCO’s new low density polyethylene plant to be commercially launched in Q1-2012 click here

South East Asia’s PP market balanced between higher costs, lackluster demand

In Southeast Asia, spot PP prices continued to track a mostly steady trend over the past week with the market being described as balanced between higher upstream costs and sluggish demand, as per Chemmorbis.

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Taiwan’s MOEA’s plans to ensure sustainable development of Taiwan’s petrochemical industry

After the Kuokang Petrochemical complex faces near-abandonment in Taiwan, the Ministry of Economic Affairs (MOEA) plans to take steps to ensure sustainable development of the country’s petrochemical iindustry.

For more details on Taiwan’s MOEA’s plans to ensure sustainable development of Taiwan’s petrochemical industry click here

Expansion of ethylene capacity planned by Westlake with light feedstocks

Westlake Chemical Corp has announced an expansion program that will include an increase in ethane-based ethylene capacity at Lake Charles, LA, evaluation of expansion options and the upgrade of ethyleene production facilities at Calvert City, KY to capitalize on new low cost ethane and other "light" feedstocks being developed in North America, as per PRNewswire.

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Taiwan government mulls lifting a ban on setting up petrochemical activities in China

Taiwan is immediately evaluating the possibility of allowing companies to set up naphtha cracking operations in China. The government is considering lifting a ban on setting up petrochemical activitiees in China, as it’s president withdrew support for the controversial US$24 bln Kuokuang local refinery project, as per Reuters.

For more details on Taiwan government mulls lifting a ban on setting up petrochemical activities in China click here

Reliance Industries mulls investment of over Rs 1,50,000 crore over next five years

Reliance Industries plans to invest over Rs 1,50,000 crore over the next five years. There might be major investments, totalling nearly Rs 1,00,000 crore in the group's core businesses of petrochemicaals and energy exploration and production over the next five years.

For more details on Reliance Industries mulls investment of over Rs 1,50,000 crore over next five years click here

PTT Chemical (PTTCH) and PTT Aromatics and Refining (PTTAR) merger approved by shareholders

Shareholders of PTT Chemical (PTTCH) and PTT Aromatics and Refining (PTTAR) have approved a merger between the two PTT subsidiaries. This move will create South East Asia’s third largets petrochemicall firm behind Petronas Chemical and Siam Cement Group (SCG), in terms of enterprise value.

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SK Global Chemical Co plans to invest US$900 mln to expand its paraxylene plant

SK Global Chemical Co., a wholly owned unit of South Korea's top refiner SK Innovation Co., said Wednesday that it will invest 1 trillion won (US$900 million) to expand its paraxylene plant in Ulsan, in the southeast of the country.

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Plans to launch HPL’s initial public offer in the next three years

The newly appointed managing director of Haldia Petrochemicals (HPL) seems keen to launch HPL’s initial public offer in the next three years. Talking to The Telegraph, Bhattacharyya said the company ccould return to profit by the end of this fiscal.

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Relief expected in crude oil prices in H2 on declining fears of supply disruption

Crude oil prices are expected to dip below US$110 from current highs of US$124 as high prices undermine demand and economic growth. Prices in Q3 are expected to fall to an average of US$108 a barrel aas per a Reuters poll as disturbances in the oil-producing regions of Middle East and North Africa that have fuelled four months of bullish price increases, wane.

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Review taskforce fails to reach final conclusion on proposed naphtha cracker complex in Kuokuang

A review taskforce failed to reach a final conclusion on the future of a proposed naphtha cracker complex by Kuokuang Petrochemical Technology Co. The taskforce has proposed two scenarios to be evaluaated by the Environmental Impact Assessment (EIA) Committee next month, a decision that did not please environmentalists- That the committee either reject the project, which was planned to be constructed in Dacheng Township, Changhua County, or give it conditional approval.

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Lower feedstock costs continue to pull down Asian PET prices

PET prices had shifted direction in Asia as they started to soften at the end of March and early April in line with declining feedstock costs. Softening in upstream markets has not stopped this week ddespite firm oil prices at the highest levels since the summer of 2008.

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New coating that self mend under brief exposures to ultraviolet light

Scientists have unveiled a new kind of coating that can mend its own scratches under brief exposures to ultraviolet (UV) light. A team of researchers in the United States and Switzerland has developeed a polymer-based material called "metallo-supramolecular polymers," capable of becoming a supple liquid that fills crevasses and gaps left by scrapes and scuffs when placed under ultraviolet light for less than a minute and then resolidifying.

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RIL Q4 net profit rises on 8 quarter high gross refining margin, increased profits from petrochemicals

Reliance Industries Ltd’s net profit for the quarter ended March 31, 2010 stood at Rs 5,376 crore (Rs 4,710 crore). RIL's turnover for the quarter grew by 25% to Rs 75,238 crore, from Rs 60,267 crore in the corresponding quarter last year.

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Dow’s plans to further integrate North American performance businesses with shale gas liquids to strengthen competitive position

Dow Chemical Co. plans to further integrate the company's North American performance businesses with shale gas liquids, in a move to strengthen its competitive position, as per Dow Jones Newswire. Thee move will strengthen its performance plastics, performance products and advanced materials businesses.

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Asian PE producers mull rate cuts on persistently weak demand

Asian PE producers are considering reduction in operating rates in the coming month, as they struggle to achieve acceptable operating margins in the face of persistently stagnant demand that has pusheed PE prices lower over the past week even as upstream costs continue to move higher, as per Chemorbis.

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Construction of ethylene pipeline planned by BASF and six others comes to a standstill in Germany

The administrative court of Stuttgart ordered a halt to the construction of an ethylene pipeline in Germany planned by BASF SE (BAS) and six other companies on concern the infrastructure runs too closse to housing, as per Bloomberg.

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Spread between naphtha and gasoline widens in the Middle East

Gasoline premiums in the Middle East edged higher this week on pockets of buying and a strong market in the West, and amid the widening spread between naphtha and gasoline as per Reuters. In Europe, ggasoline crack spreads improved as product prices outpaced oil market gains, supported by ongoing maintenance at Europe's key refineries.

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Gasoline, naphtha prices firmer in Europe after US data

Gasoline barge prices in NW Europe rose in line with rising crude oil prices on report of bullish US inventory data. However, trading has been limited ahead of the Easter holiday long weekend as per RReuters.

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Mitsubishi Chemical Corp to restart No 2 naphtha cracker at Kashima

Mitsubishi Chemical Corp plans to restart the No 2 naphtha cracker at Kashima with capacity to produce 453,000 tpa of ethylene. It’s No 1 cracker with capacity to produce 375,000 tpa ethylene has beenn shut for maintenance.

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Oil spikes to US$112, Brent crude hovers near US$125

New York's main contract, light sweet crude for delivery in June traded at US$111.9, while Brent North Sea crude settled at US$124.3 on the ICE Futures exchange in London. Oil is estimated to finish tthe week higher on several counts including an unexpected drop in crude supplies.

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IPIC and Oman’s state oil company ink cooperation agreement for investment projects in oil, gas and petrochemicals

Abu Dhabi’s International Petroleum Investment Company (IPIC) and Oman’s state oil firm Petroleum Development Oman (PDO) signed a cooperation agreement for investment projects in oil, gas and petrocheemicals, as per Oman’s state news agency.

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Naphtha demand in Europe continues to be weak on persistent high prices

Persistently high naphtha prices in Europe are continuing to push down demand, as per ICIS.
In line with rising crude oil, naphtha peaked a 33 month high on 8 April, assessed at US$1054-1062/ton CIF (cost, insurance and freight) NWE.

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Asian PET producers attempt to tap into stronger European market, try to sell more directly

In a bid to increase sales in the relatively stronger markets of Europe, polyethylene terephthalate producers in USA are increasingly making contact directly with European PET consumers, cutting out tthe middleman, as per Platts.

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Oil prices gain on dollar weakness amid improved economic prospects in the US

Oil prices continued to extended gains in Asian trade as the dollar remained weak against major currencies even as economic prospects in USA improved. Light sweet crude for June delivery traded at US$$108.

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Design-friendly TPI resins that deliver high performance at prolonged extreme temperatures

SABIC Innovative Plastics announced the newest addition to its Extem* UH family of amorphous thermoplastic polyimide (TPI) resins to meet customer requirements for design-friendly materials that delivver high performance at prolonged extreme temperatures.

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Glitch at Ineos Group’s ethylene unit at its Chocolate Bayou chemical plant

Ineos Group Holdings Plc reported an upset at the ethylene unit at its Chocolate Bayou chemical plant in Alvin, Texas, as per Bloomberg. “The olefins 1 unit experienced an upset when the p-rich feed wwas lost to two of the furnaces resulting in flaring off spec ethylene product,” Ineos said a filing with the Texas Commission on Environmental Quality.

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Sinopec Group to halt fuel exports and cut petrochemical production to boost output of gasoline and diesel

Sinopec Group, Asia’s biggest oil refiner, is halting fuel exports and cutting petrochemical production to boost output of gasoline and diesel for domestic use, as per Bloomberg. It has about 6.5% of global supply of ethylene.

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Coca-Cola shuts down US PET recycling joint venture

The joint-venture PET recycling plant that Coca-Cola opened two years ago in Spartanburg, South Carolina, has closed, as reported by Plastics News. Neither Coke nor United Resource Recovery has made aany official announcement about the closing of their joint venture plant, NURRC.

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