Aramco, Pertamina mull refining, petrochem project

Saudi Aramco Asia Co Ltd (SAAC) has signed an initial deal with Indonesia's state energy firm, PT Pertamina to mull building a refining and petrochemicals project in Indonesia, as per Reuters. Under tthe Memorandum of Understanding (MOU), Aramco and Pertamina will undertake a feasibility study first to jointly build a refinery and petrochemicals project in Tuban in East Java.

For more details on Aramco, Pertamina mull refining, petrochem project click here

Assam Petrochemicals plans to build methanol, acetic acid plants by end 2014

Assam Petrochemicals plans to build a 500,000 tpa methanol and a 200,000 tpa downstream acetic acid plant in Namrup, by the end of 2014, as per Platts.
Natural gas from Assam will be used as feedstoock for the methanol project.

For more details on Assam Petrochemicals plans to build methanol, acetic acid plants by end 2014 click here

Singapore exports fell on lower shipments trimmed by Europe’s debt crisis and Chinese New Year holiday

For the first time in three months, Singapore’s exports fell in January. Most affected were electronics and petrochemical shipments trimmed by falling demand due to Europe’s debt crisis and as the Chiinese New Year holiday shortened the working month, as per Bloomberg.

For more details on Singapore exports fell on lower shipments trimmed by Europe’s debt crisis and Chinese New Year holiday click here

ADNOC reaches final price agreement with term customers for splitter, low sulfur naphtha at premium

Abu Dhabi National Oil Co (ADNOC) has reached a final price agreement with its term customers to supply both splitter and low sulfur naphtha for April 2012-March 2013 at a premium of US$23.50/mt to thhe ADNOC formula, as per Platts.

For more details on ADNOC reaches final price agreement with term customers for splitter, low sulfur naphtha at premium click here

Saudi Aramco plans 50 day maintenance shutdown at condensate splitter in mid-March

Saudi Aramco, top naphtha exporter to Asia, has plans to shut a condensate splitter for maintenance for about 50 days in mid-March. This will take an estimated 250,000-330,000 tons of A310 naphtha offf the market.

For more details on Saudi Aramco plans 50 day maintenance shutdown at condensate splitter in mid-March click here

PI organizes conference on Innovations in Flexible Packaging in Mumbai

Flexible Packaging is one of the fastest growing industries in the World. Amongst all packaging material plastic is the fastest growing raw material. Flexible Packaging is a part of day to day human llife.

For more details on PI organizes conference on Innovations in Flexible Packaging in Mumbai click here

Asian PVC origins reappear in Mediterranean markets

Players in Turkey and Egypt report that Asian PVC offers are beginning to re-emerge after a long period of absence, as per ChemOrbis. Offers for South Korean PVC showed up in Egypt this week while pllayers in Turkey reported receiving offers for Taiwanese and Malaysian cargoes over the past two weeks.

For more details on Asian PVC origins reappear in Mediterranean markets click here

Plant matter converted into ethylene/propylene using a nanotechnology process

A method of converting plant matter into ethylene and propylene using a nanotechnology process that offers an alternative to oil-based production, has been developed by a team from Utrecht University and Dow Chemical Co, as per Reuters.

For more details on Plant matter converted into ethylene/propylene using a nanotechnology process click here

North American polypropylene market returns to volatility seen in 2011

After showing stability for two months of this year, the North American polypropylene market returned to the volcanic behavior it displayed in 2011. PP prices have surged an average of 17 cents per lbb since Feb.

For more details on North American polypropylene market returns to volatility seen in 2011 click here

Paraxylene prices fall in Asia amid rising benzene

Rising by US$3.75/ton, benzene in Asia rose to US$1187.75/mt FOB Korea on Thursday as per Platts. In the US, benzene spiked by nine dollars to US$1246/mt FOB USG. "Asian benzene supply for the prompt months is still very tight.

For more details on Paraxylene prices fall in Asia amid rising benzene click here

ADNOC lowers premiums on long-term naphtha supplies

Abu Dhabi National Oil Co. (ADNOC) has lowered its offering price for long term naphtha supply for April 2012-March 2013, as per Bloomberg. ADNOC offered Pentane-Plus grade naphtha at a premium of US$$25.

For more details on ADNOC lowers premiums on long-term naphtha supplies click here

Iran to halt oil exports to 6 EU nations: oil prices spike

As per Iranian state TV, Tehran had cut oil exports to six European countries in response to sanctions from the European Union. This was accompanied by positive developments in Europe’s sovereign debtt crisis, pushing up oil prices to US$102.

For more details on Iran to halt oil exports to 6 EU nations: oil prices spike click here

New PET uses post-consumer recycled PET with standard virgin PET, approved for food contact packaging

Artenius, the PET resins division of LSB has developed a new PET packaging material that combines virgin PET resin and post-consumer recycled PET as feedstock in the resin production process. The resuult is Artenius Elite, a remarkably pure, energy-efficient packaging resin.

For more details on New PET uses post-consumer recycled PET with standard virgin PET, approved for food contact packaging click here

Naphtha price in Asia rise to nearly a 10 month highs

Amid rising Brent crude, Asia's naphtha price rose on Wednesday to nearly a 10 month high, while cracks slipped just around 2% after touching 13 month highs as tight supply persisted, as per Reuters.
Japan's Mitsui Chemicals came forward to buy H2 March naphtha cargo, but details were scant.

For more details on Naphtha price in Asia rise to nearly a 10 month highs click here

Russian government approves measures for support of domestic petrochemical industry until 2030

The Russian government has approved a new set of measures for the support of the domestic petrochemical industry until 2030, as per europeanplasticsnews.com. The new measures involve development of thhe industry under the cluster concept, with particular attention on the increase of large-capacity petrochemical production and related processing industries.

For more details on Russian government approves measures for support of domestic petrochemical industry until 2030 click here

Polypropylene spot prices in Europe rise by 20% to 8 month highs

A more than 20% rise has been seen in Polypropylene (PP) net spot prices in Europe so far this year. Prices have spiked to an eight-month high, as producers close February order books and only offer nnew volumes at higher prices amid expectations of another increase for March propylene, as per ICIS.

For more details on Polypropylene spot prices in Europe rise by 20% to 8 month highs click here

Growth in materials demand for wind turbine blades

Global demand for materials in the production of wind turbine blades grew by over 20% pa in the last five years, as per a report from industry consultants, AMI Consulting, published in January 2012. TThe market for wind turbine blades has been one of the fastest growing of any composite application with strong growth in Europe, North America and more recently Asia.

For more details on Growth in materials demand for wind turbine blades click here

Upward trend continues seen in China’s PP, PE markets

The upward trend that had been in place in China’s PP and PE markets since mid December gained speed following the end of the Chinese New Year holiday at the beginning of February, as per ChemOrbis. HHowever, the resistance against rising prices built on the buyers’ side has grown, forcing traders and distributors to step back from their offers.

For more details on Upward trend continues seen in China’s PP, PE markets click here

Sibur and Gazprom sign long-term supply contract for petrochemical plants

CJSC SIBUR Holding and OJSC Gazprom have signed a long-term contract to supply natural gas liquids (NGL) from the Surgut Condensate Stabilisation Plant to the Tobolsk-Neftekhim facility up to 2021. Thhe annual supply of NGL between 2012 and 2016 will increase from 440,000 tons to over 1 mln tons.

For more details on Sibur and Gazprom sign long-term supply contract for petrochemical plants click here

Severe weather conditions continue to affect polymer business in Europe

Cold weather over the past few weeks has affected Europe’s plastics sector severely, as per ChemOrbis. Tough weather conditions, which worsened during the weekend, caused many upstream and downstream plants to freeze.

For more details on Severe weather conditions continue to affect polymer business in Europe click here

Honeywell’s new technology center in India to expand capabilities for refining, petrochem, low-global-warming and nylon technologies and applications

Honeywell has inaugurated a new technology center in India, further expanding its technology development capabilities in key areas including refining, petrochemical, low-global-warming and nylon technnologies and applications.

For more details on Honeywell’s new technology center in India to expand capabilities for refining, petrochem, low-global-warming and nylon technologies and applications click here

Asian benzene dips with fall in crude oil prices

Amid falling crude oil prices, benzene in Asia slipped by a dollar to US$1187/mt FOB Korea. In the US, benzene was assessed at US$1246/mt FOB USG on February 13, while European benzene was assessed att US$1270/mt CIF ARA, up by US$11 on February 13.

For more details on Asian benzene dips with fall in crude oil prices click here

Reliance plans to expand petrochemicals production at Jamnagar refinery

Reliance Industries Ltd. will expand petrochemicals production including ethylene, polypropylene and propylene at its Jamnagar refinery to profit from selling products used in consumer goods that are more valuable than exported fuels, as per Bloomberg.

For more details on Reliance plans to expand petrochemicals production at Jamnagar refinery click here

Naphtha cracks in Asia peak to a 13 month high

Naphtha cracks in Asia rose for the fourth time to peak to a 13 month high, while naphtha price was at 9 month on firm demand and limited cargoes, as per Reuters. South Korea's LG Chem bought 25,000 tons of naphtha for H2-March arrival at Yeosu at premiums of around US$20/ton to Japan quotes on a cost-and-freight (C&F) basis.

For more details on Naphtha cracks in Asia peak to a 13 month high click here

Vitol’s total February purchases rise to 150,000 tons

Two more cargoes of 12,500 tons of naphtha have been purchased by trading company Vitol, taking its total February purchases to 150,000 tons, the largest monthly volume bought by an individual companyy during the Platts Market on Close assessment process since 2005, as per Platts.

For more details on Vitol’s total February purchases rise to 150,000 tons click here

Oil prices rise above US$101 on renewed tensions on Iran’s oil supplies and Greece approves spending cuts

Crude oil prices crossed the US$100 threshold as tensions about Iran’s oil supplies rekindled after some shipping companies mulled to stop loading Iranian crude onto tankers amid pending US and Europeean sanctions against Iran.

For more details on Oil prices rise above US$101 on renewed tensions on Iran’s oil supplies and Greece approves spending cuts click here

Turkey’s PET market moves higher ahead of the high season

After rebounding at the end of 2011, Turkey’s import PET market rose steadily, driven by surging upstream costs since January. Sellers report seeing relatively improved buying interest in the last couuple of weeks despite harsh weather conditions, as per ChemOrbis.

For more details on Turkey’s PET market moves higher ahead of the high season click here

DuPont announces price increase in Europe for Elvax® EVA Copolymer

DuPont Packaging & Industrial Polymers is announcing a price increase of Euro 0.15/kg on all grades of DuPont™ Elvax® EVA copolymers in the region Europe, Middle East and Africa. This increase is effeective March 1st, 2012 or as contracts allow.

For more details on DuPont announces price increase in Europe for Elvax® EVA Copolymer click here

Foster Wheeler awarded contract for propylene oxide unit in Jubail

Foster Wheeler has announced that subsidiaries of its Global Engineering and Construction Group have been awarded an engineering, procurement and construction management contract by Aramco Overseas Coompany B.

For more details on Foster Wheeler awarded contract for propylene oxide unit in Jubail click here

Asia Naphtha Crack Extends Drop; BP Sells Gasoil: Oil Products

Naphtha crack spread extended losses in Asia, signaling reduced profit for refiners, as per Bloomberg. Japan naphtha’s premium to London-traded Brent crude futures fell to US$122.73/ton at 3 p.m. Singgapore time from US$126.

For more details on Asia Naphtha Crack Extends Drop; BP Sells Gasoil: Oil Products click here

Impact of feedstock developments on GCC petchem firms

Following two decades of expansion driven by an abundance of natural gas at advantaged prices, GCC petrochemical companies established a leading position in their industry. However, recent shifts in bboth supply and demand have led to growing gas shortages of natural gas in the region.

For more details on Impact of feedstock developments on GCC petchem firms click here

Qatar Petroleum, Qapco ink agreement for US$5.5 bln stream cracker petrochem complex by 2018

Qatar Petroleum and Qapco have signed a heads of agreement (HoA) for a 80:20 joint venture, which will produce 1.4 mln tpa of ethylene, 850,000 tpa of high-density polyethylene (HDPE), 760,000 tpa of polypropylene, 430,000 tpa of linear low-density polyethylene, 125,000 tpa of pyrolysis gasoline and 83,000 tpa of butadiene.

For more details on Qatar Petroleum, Qapco ink agreement for US$5.5 bln stream cracker petrochem complex by 2018 click here

Growing demand for petrochemicals in China creates opportunities for JVs with US and European companies

China has surpassed North America and Europe as the largest consumer of petrochemicals in the world, creating opportunities for joint ventures with US and European companies, a report by GlobalData haas found.

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Kuwait Styrene Co. announces 2011 net profit at US$99 mln

The Kuwait Styrene Company (TKSC) has announced a net profit of US$99 million for the fiscal year ending December 31, 2011, as per KUNA. Profits have been attributed to several elements, such as strattegic management, highly efficient operations, proper marketing, as well as the global stability in prices of petrochemical products.

For more details on Kuwait Styrene Co. announces 2011 net profit at US$99 mln click here

ADNOC offers April-March term naphtha to Asia at premiums of US$25-27/ton

Abu Dhabi National Oil Co. (ADNOC) offered to term naphtha for April to March 2013 to Asian buyers at premiums of US$25-27/ton above Middle East prices, as per sources in Bloomberg. Abu Dhabi offered Pentane-Plus grade naphtha at a premium of US$27, low-sulfur naphtha at a premium of US$26 a ton and Splitter-grade at US$25/ton.

For more details on ADNOC offers April-March term naphtha to Asia at premiums of US$25-27/ton click here

Double digit premium paid by Formosa Petrochemical for 100,000 tons naphtha

Formosa Petrochemical Corp. bought about 100,000 metric tons of naphtha for end of March to early April delivery to Mailiao, for a premium of US$11-12/ton above Japan benchmark prices, as per Bloomberrg.

For more details on Double digit premium paid by Formosa Petrochemical for 100,000 tons naphtha click here

Bailout deal for debt-strapped Greece put off again: Oil prices fall

Oil prices ended the previous week on a lower note in Asia on news that the bailout deal for debt-strapped Greece was once again delayed. This is because of lack of sufficient confidence in the euro zzone that the austerity measures taken by Greece will hold up.

For more details on Bailout deal for debt-strapped Greece put off again: Oil prices fall click here

Honam Petrochemical mulls petrochem complex in Cilegon, Indonesia

Asia's No. 2 petrochem producer- Honam Petrochemical Corp. is mulling a petrochemical complex in Cilegon, Indonesia, at an investment outlay of US$5 bln. Capacities would comprise 1 mln tpa of ethylenne, 700,000 tpa of monoethylene glycol, 600,000 tpa of polypropylene and 550,000 tpa of propylene at the new integrated plant.

For more details on Honam Petrochemical mulls petrochem complex in Cilegon, Indonesia click here

Reliance to shut three units for annual maintenance: PP and PE prices

With effect from January 9, 2011, Reliance has announced price hikes of Rs 3/kg for polypropylene (PP) and Re 1/kg for polyethylene (PE). This follows a decision by Reliance Industries Ltd (RIL) to shhut three of its units for annual maintenance, coupled with firm global prices.

For more details on Reliance to shut three units for annual maintenance: PP and PE prices click here

Lukoil looks at restart after December fire: Damage estimated at ?20.5 mln

A major fire that destroyed part of the Stavrolen petrochemicals complex of Russia's Lukoil oil group in December 2011 is estimated to have caused damage to the tune of over ?20.5 mln. The accident waas caused by a gas leak in the "assembly for separation of the propane-propylene fraction" resulting from corrosion and "structural changes" that occurred while the equipment was in use, according to an official technical inquiry.

For more details on Lukoil looks at restart after December fire: Damage estimated at ?20.5 mln click here

Proposal for setting up PCPIR near Cuddalore expected by end of month

The Ministry of Chemicals and Fertilisers will present a proposal to the cabinet for approval, for setting up a Petroleum, Chemicals and Petrochemicals Investment Region near Cuddalore in two weeks. The PCPIR will entail infrastructure spending of Rs 16,725 crores.

For more details on Proposal for setting up PCPIR near Cuddalore expected by end of month click here

SCG, Thai Plastic and Chemicals, QPI Vietnam, PetroVietnam, Vinachem ink

Siam Cement Group (SCG), Thai Plastic and Chemicals, QPI Vietnam (a subsidiary of Qatar Petroleum International), PetroVietnam and Vinachem have signed a joint venture agreement to invest in Vietnam'ss first petrochemicals complex.

For more details on SCG, Thai Plastic and Chemicals, QPI Vietnam, PetroVietnam, Vinachem ink click here

Sentiment bullish in Indonesia's polymer markets

Players in Indonesia report that sentiment within the country is bullish and that the country has seen even larger increases over the past few weeks along with other Southeast Asian countries, as per ChemOrbis.

For more details on Sentiment bullish in Indonesia's polymer markets click here

Quick, concentrated UV protection for polycarbonate

A cost-effective and environmentally responsible way to improve the UV protection of injection molded or extruded polycarbonate parts is being offered by AURAT infusion technology, developed by Bayer MaterialScience LLC.

For more details on Quick, concentrated UV protection for polycarbonate click here

Zhafir Plastics Machinery opens new subsidiary in India

As one of the premium brands of all electrical injection molding machines, Zhafir Plastics Machinery has founded its subsidiary in India --- Plastics Machinery India Private Limited Founded in 2005 inn Germany, the Zhafir Group with its present two manufacturing and technology facilities in Ebermannsdorf/Germany and in Ningbo/China and the now newly founded sales and service center in Mumbai/India represents the premium brand of Haitian International -- the world's largest manufacturer of injection molding machines.

For more details on Zhafir Plastics Machinery opens new subsidiary in India click here

Tonen Chemical likely to skip 2012 cracker turnaround

Tonen Chemical Corp is likely to skip scheduled maintenance on its 540,000 tpa Kawasaki naphtha cracker in 2012, as per Reuters. This sole cracker of Tonen last completed scheduled maintenance in 20100.

For more details on Tonen Chemical likely to skip 2012 cracker turnaround click here

Roquette and Rhodia Acetow ink Joint Development Agreement to develop new plant-based polymers

Roquette and Rhodia Acetow have signed a Joint Development Agreement (JDA) to develop new plant-based polymers. The JDA will enable both companies to leverage synergies bringing together respective coompetencies in the field of plant-based polymer chemistry.

For more details on Roquette and Rhodia Acetow ink Joint Development Agreement to develop new plant-based polymers click here

Iran threatens to cut supply to EU: Oil prices rise

Oil on the Nymex rose by US$1.50 on Tuesday to US$98.41 per barrel in New York. Brent crude rose to US$$116.23 per barrel in London.
Oil prices climbed on threats that Iran is likely to cut off suppplies to Europe.

For more details on Iran threatens to cut supply to EU: Oil prices rise click here

ONGC fetches 9 month high premiums on March naphtha cargo

Oil & Natural Gas Corp has sold a March naphtha cargo to Vitol at US$35-36/ton above Middle East quotes on a free-on-board (FOB) basis. This is the highest premium it has fetched in nine months, as peer Reuters.

For more details on ONGC fetches 9 month high premiums on March naphtha cargo click here

Strong naphtha cracks in Europe

European gasoline barge prices firmed on Tuesday, with strong naphtha cracks lending support to the light ends complex, as per Reuters. Despite the recent start of a downwards correction phase in lighht distillates, naphtha market sentiment remains relatively bullish on strong demand from the petrochemicals industry.

For more details on Strong naphtha cracks in Europe click here

CII and Al Fajer to launch IndiaPlast 2014

IndiaPlast exhibition will be organised from March 6 to 8, 2014, at Chennai Trade Centre by Al Fajer Information and Services in collaboration with the Confederation of Indian Industry (CII), India’s biggest industry association.

For more details on CII and Al Fajer to launch IndiaPlast 2014 click here

Wavin accepts revised all-cash takeover offer by Mexichem

Mexichem S.A.B. de C.V. and Wavin N.V. jointly announce they have reached a conditional agreement in connection with a public cash offer by Mexichem for all issued and outstanding ordinary shares of WWavin at an offer price of € 10.

For more details on Wavin accepts revised all-cash takeover offer by Mexichem click here

Graham Corp awarded over US$3.5 mln in orders for refining, petrochemical and nuclear energy industries

Graham Corporation has been awarded more than $3.5 million in orders that are expected to be delivered in the third quarter of Graham's fiscal year 2013, which begins April 1, 2012.
The orders for thhe equipment to be designed and manufactured span three key markets within the energy industry that Graham serves: petrochemical, refining and nuclear energy.

For more details on Graham Corp awarded over US$3.5 mln in orders for refining, petrochemical and nuclear energy industries click here

Thermal Energy receives offer of funding from Canadian Govt for project in China

Thermal Energy International Inc. has received an offer of funding from the Canadian government to support a product development project it is undertaking in China targeting the Chinese petrochemical market.

For more details on Thermal Energy receives offer of funding from Canadian Govt for project in China click here

Global investment in petrochemical infrastructure market to reach US$64.1 bln in 2012

The petrochemical infrastructure market has seen rapid growth over the past decade. Growth in demand for petrochemical products has been the major underlying driver of growth. The manufacturing and prroduction of modern industrial and consumer goods requires polymers and derivatives of petrochemicals which are integral to almost every product.

For more details on Global investment in petrochemical infrastructure market to reach US$64.1 bln in 2012 click here

RIL inks agreement for US$400 mln loan facility with SACE for US$11 bln J-3 mega petrochem project

Reliance Industries Ltd (RIL) has approached the international markets to raise funds for its ambitious US$11 billion (Rs 55,000 crore) Jamnagar phase three expansion project. The project, also known as J-3 mega petrochemicals project aims to double petrochemicals production including setting up of mega petrochemical units, a gasification plant and refinery off-gas cracker.

For more details on RIL inks agreement for US$400 mln loan facility with SACE for US$11 bln J-3 mega petrochem project click here

150,000 tons of heavier naphtha grades to be shipped in March to Asia from the Mediterranean

About 150,000 tons of mainly heavier naphtha grades will be shipped to Asia from the Mediterranean in March, as per Reuters. However, shortage in Europe is likely to halt further shipments to Asia.
TThe arbitrage window for open-spec naphtha used mainly for ethylene cracking was shut recently.

For more details on 150,000 tons of heavier naphtha grades to be shipped in March to Asia from the Mediterranean click here

Asian naphtha market gears up for challenging round of negotiations with Middle Eastern suppliers

Asian naphtha market participants are bracing themselves for what some term a challenging round of negotiations with Middle Eastern suppliers, as buyers anticipate a possible hike in premiums for the April 2012-March 2013 term cycle, as per Platts.

For more details on Asian naphtha market gears up for challenging round of negotiations with Middle Eastern suppliers click here

Samsung Total selects LyondellBasell’s Polyolefin Process Technology for Daesan

LyondellBasell, a licensor of polyethylene and polypropylene technologies, has licensed its Lupotech T polyolefin process technology to Samsung Total Petrochemicals. The technology will be deployed inn a new plant in Daesan, South Korea.

For more details on Samsung Total selects LyondellBasell’s Polyolefin Process Technology for Daesan click here

Dow Chemical posts unexpected loss of US$20 mln on falling plastics sales

Dow Chemical Co. has posted an unexpected fourth-quarter loss after sales at its plastics unit fell, as per Bloomberg. The net loss was US$20 mln vs a net income of US$426 mln a year ago. Chief Executtive Officer Andrew Liveris is expanding plastics production and developing genetically modified seeds and herbicides to compete with Monsanto Co.

For more details on Dow Chemical posts unexpected loss of US$20 mln on falling plastics sales click here

Honeywell to invests US$27.5 mln in new ballistic materials facility in Chesterfield County

Honeywell will invest US$27.5 mln to add to its Advanced Fibers and Composites operation in Chesterfield County.
AF&C manufactures the lightest, strongest polyethylene fiber available anywhere in thee world, which is used for ballistic protection with the U.

For more details on Honeywell to invests US$27.5 mln in new ballistic materials facility in Chesterfield County click here

Major expansion and upgrade project at Samsung Total Petrochemicals Daesan Complex

Total is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project for the Daesan complex in South Korea, which the Group owns with Samsung as part of the Samsunng Total Petrochemicals 50:50 joint venture.

For more details on Major expansion and upgrade project at Samsung Total Petrochemicals Daesan Complex click here

Sahara Petrochemicals Co. affiliate inks financing agreement with SIDF for SR 300 mln

Sahara Petrochemicals Company announces that one of TSOCs affiliates, Saudi Acrylic Monomers Company Limited (SAMCO), inked on Sunday 5th February, 2012 a financing agreement with Saudi Industrial Devvelopment Fund (SIDF) with a value of SR 600 million.

For more details on Sahara Petrochemicals Co. affiliate inks financing agreement with SIDF for SR 300 mln click here

Planned maintenance turnaround at Showa Denko naphtha cracker

A naphtha cracker plant operated by Showa Denko will undergo planned maintenance turnaround from the first week of March, as per Fibre2fashion. The cracker has capacity to produce 695,000 tpa of ethyllene.

For more details on Planned maintenance turnaround at Showa Denko naphtha cracker click here

Lukoil completes inquiry into causes of fire at Stavrolen petrochemical facility

Lukoil has completed the inquiry into the causes of the fire at the Stavrolen petrochemical facility and the ensuing breakdown of an ethylene-producing unit in December has been completed, as per StocckMarketWire.

For more details on Lukoil completes inquiry into causes of fire at Stavrolen petrochemical facility click here

Indorama Ventures inks deal with Indo Rama Synthetics to set up PTA, PET, PSF plant in India

Thailand’s Indorama Ventures has signed a deal with Indo Rama Synthetics to set up a new petrochemical plant in India. The project, announced during the visit to India of Thai Prime Minister Yingluck Shinawatra, will manufacture Purified Terephthalic Acid (PTA), Polyethylene Terephthalate (PET) and Polyester Staple Fibre (PSF).

For more details on Indorama Ventures inks deal with Indo Rama Synthetics to set up PTA, PET, PSF plant in India click here

Albemarle installs new production train for finished polyolefin catalysts

Albemarle has completed the expansion of its Process Development Center (PDC) in Baton Rouge, Louisiana by installing a new production train for finished polyolefin catalysts and a number of supportinng auxiliaries, as per PBR Staff Writer.

For more details on Albemarle installs new production train for finished polyolefin catalysts click here

Samsung Total plans major expansion and upgrade in Daesan

Total is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project for the Daesan complex in South Korea, which the Group owns with Samsung as part of the Samsunng Total Petrochemicals 50:50 joint venture.

For more details on Samsung Total plans major expansion and upgrade in Daesan click here

Honam to add new 300,000 tpa PP line at Yeosu

Honam Petrochemical Corporation is adding a new 300,000 tpa polypropylene (PP) line at Yeosu, as per Fibre2fashion News Desk. With this, Korean PP capacity of Honam, which had merged with Titan in 20110, will touch 1.

For more details on Honam to add new 300,000 tpa PP line at Yeosu click here

Indonesia’s PT Chandra Asri Petrochemical has signed an ethylene sales deal with its subsidiary, PT Styrindo Mono Indonesia, for a period of one year,

Israel has signed a deal with American chemistry giant Dow Chemical to begin using its innovative Bromine-based flame retardant polymer, which is used in foam insulation applications that are needed ffor thermal insulation in construction, as per ynetnews.

For more details on DOW inks deal with Israel Chemicals for bromine-based FR for thermal construction insulation application click here

Chandra Asri inks ethylene sales deal with subsidiary PT Styrindo Mono Indonesia

Indonesia’s PT Chandra Asri Petrochemical has signed an ethylene sales deal with its subsidiary, PT Styrindo Mono Indonesia, for a period of one year, effective from Jan.1 to Dec. 31, 2012, as per thee Jakarta Post.

For more details on Chandra Asri inks ethylene sales deal with subsidiary PT Styrindo Mono Indonesia click here

Global LLDPE demand is moving steadily forward

The polyethylene linear low density (LLDPE) demand on the global market is moving steadily forward - its growth is driven largely by the developing LLDPE industries in the countries of Asia-Pacific annd Eastern Europe, as per Merchant Research & Consulting Ltd.

For more details on Global LLDPE demand is moving steadily forward click here

Japan Tosoh to continue operating sole 527,000 tpa naphtha cracker at reduced rate

Japan's Tosoh Corp, an integrated chemical producer is to continue to run its 527,000 tpa naphtha cracker at reduced run rates of 90% due to slow ethylene demand, as per Reuters. Run rates were lowere

For more details on Japan Tosoh to continue operating sole 527,000 tpa naphtha cracker at reduced rate click here

LyondellBasell grants largest capacity Hostalen ACP Process License for new HDPE plant in China

Hostalen ACP process technology license to Shaanxi Yanchang Petroleum Yanan Energy and Chemical Co., Ltd. Start-up for this new HDPE plant in the Chinese Shannxi province is scheduled for 2014. "Thiis is the largest capacity Hostalen ACP multi-modal process technology that we have ever licensed, further demonstrating the competitive economics for producing leading HDPE resins," said Bob Patel, senior vice president of Technology at LyondellBasell.

For more details on LyondellBasell grants largest capacity Hostalen ACP Process License for new HDPE plant in China click here

Asian Development Bank approves loan and political risk guarantee of US$400 mln for Uzbekistan’s largest-ever petrochemical plant

The Asian Development Bank (ADB) has approved a loan and political risk guarantee totaling up to $400 million to help build the largest-ever petrochemical plant in Uzbekistan.
The Surgil Natural Gass Chemicals Project will produce gas for commercial use and for conversion into chemical intermediates used in the plastics and textiles industries.

For more details on Asian Development Bank approves loan and political risk guarantee of US$400 mln for Uzbekistan’s largest-ever petrochemical plant click here

Naphtha cracks in Asia at highest in 8-1/2 months

Asia's naphtha price and intermonth spreads were at their highest in about two weeks on Thursday, as per Reuters. Cracks rose to an 8-1/2 month high as tighter supplies in Europe were expected to impaact the East, which is structurally short of the light fuel.

For more details on Naphtha cracks in Asia at highest in 8-1/2 months click here

Albemarle installs new production train for finished polyolefin catalysts and supporting auxiliaries

Abemarle Corporation has successfully completed the latest expansion of its Process Development Center (PDC) in Baton Rouge, Louisiana by installing a new production train for finished polyolefin cataalysts and a number of supporting auxiliaries.

For more details on Albemarle installs new production train for finished polyolefin catalysts and supporting auxiliaries click here

Petrochem makers in South Korea to invest US$6.7 bln in 2012 on facility upgrades

South Korea's petrochemical makers plan to invest Won 7.5 trillion (US$6.7 bln) in 2012 on upgrade and expansion of production facilities, up 2.7% from estimated investments of Won 7.3 trillion last yyear, the Korea Petrochemical Industry Association said Thursday.

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High Performance drives growth for agricultural films

The increasing importance of plastics in the area of agriculture and horticulture has been highlighted in a new in-depth report on the Agricultural films market in Europe by Applied Market Informationn Ltd.

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Import offers may regain interest in India

In line with the global upturn, import cargoes have been offered to India with increases, as per ChemOrbis. Nevertheless, there was not much interest for these offers up until a short while ago due tto weak demand, sufficient local stocks and weak local currency.

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Poor visibility caused by fog compels Houston Ship Channel pilots to suspend vessel traffic

Houston Ship Channel pilots have suspended boarding of both inbound and outbound vessels due to poor visibility caused by fog, as per Platts. Not many inbound and outbound vessels have so far been afffected by the suspension.

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Tensions mount as EU agrees to ban crude imports from Iran, oil prices rise

Brent March crude rose to US$ 110.5, while March crude rose to US$99.3. A decision by the European Union to ban imports of Iranian crude from July and a fresh threat by Iran to close the Strait of Horrmuz shipping channel has pushed up oil prices amid a weak dollar.

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Penford and Novomer to partner to drive development and commercialization of innovative sustainable packaging materials

Penford Corporation, a company with significant business and expertise in specialty starches and sustainable bio-products and Novomer Inc., a new materials company pioneering a family of high-performaance plastics and polymers using renewable feedstocks such as carbon dioxide, announce that they have entered into a Joint Development Agreement that will leverage the two companies’ core technologies and expertise.

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Supreme Petrochem reports net loss of Rs 7.25 crore for quarter ended December 31

Leading polystyrene producer Supreme Petrochem (SPL) has reported a net loss of Rs 7.25 crore for the quarter ended December 31 amid higher cost of inputs and lower demand for end products. A profit of Rs 15.

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Propylene costs maintain upward rally on global scale

Monomer prices in global markets have been strong since the beginning of this year and continue to provide support for rising polymer markets, as per ChemOrbis. Among these monomers, spot propylene prrices recorded noticeable increases in major markets including Asia, Europe and the US over the past week mainly due to strong naphtha markets.

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Explosion at LyondellBasell's Wesseling site

LyondellBasell's Wesseling site Germany has been hit by an explosion over the weekend, as per Platts. The blast occurred on Saturday morning at the polyethylene plants. The cause of the blast is now tthe subject of an investigation by the company and local authorities.

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Update on global polyolefins scenario

The global demand for thermoplastics is expected to grow by around 100,000 tons by 2015, driven by the developing economies. Polyethylene comprises 35% of this market and polypropylene is 24%, accordiing to leading market consultant Noru Tsalic of Applied Market Information (AMI).

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Q3 net profit rises 13% on higher petrochemical, cooking gas output

GAIL (India) Ltd. beat analysts' expectations with a 13% rise in quarterly net profit, as an increase in output of petrochemicals and cooking gas offset higher subsidy payout and flat natural gas trannsmission volume.

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EU mulls embargo on Iran's oil exports as the West ramps up pressure over Iran's suspected nuclear drive

European Union prepares to enforce an embargo on Iran's oil exports as the West ramps up pressure over Iran's suspected nuclear drive. EU plans to strengthen existing sanctions by ban of imports of Irranian crude as well as targeting finance, petrochemicals and gold Tehran has been urged to return to negotiations.

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Update on Keyuan Petrochemicals Inc's first SBS line

Keyuan Petrochemicals Inc. has announced that one of its production lines for Styrene-Butadiene-Styrene (SBS) has commenced commercial production after successful trial production and testing in Q4-20011.

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Arkema restructures its Functional Polyolefin range

As part of a drive to optimize its functional polyolefin range, Arkema announces that it is to discontinue its Evatane® 33-15 (High Content Ethylene - Vinyl Acetate Copolymers) and Lotryl® 14MG02 (Ethhylene – Acrylate Copolymers) grades.

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Ethylene output falls by 4.7% in 2011- a larger fall than seen in 2008

Domestic production of ethylene, a key material for various petrochemical products, in 2011 fell 4.7% from the previous year to 6.69 mln tons, falling below the 6.88 mln tons marked in 2008 when the sso-called Lehman Shock affected production.

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US$64.1 bln to be spent globally on petrochemical infrastructure in 2012

Petrochemical infrastructure development is driven by growth in newly industrialised nations turning to the production of polymer products, and those which have a high demand for fertilisers and fuel additives, as per a report by Visiongain.

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Cracker run rates in Europe slowly improve as olefins rebound

As olefin prices rebound, cracker run rates in Europe have gradually improved in January, but are still at a reduced level of around 80%, as per Platts. In January, ethylene contract prices rose Eur 440/mt to Eur 1120/mt FD NWE from December, while propylene increased Eur 20/mt to Eur1105/mt FD NWE.

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Taiwan's CPC Corp restarts 380,000 tpa No. 4 naphtha cracker

Taiwan's CPC Corp has restarted its 380,000 tpa No. 4 naphtha cracker this week following a routine maintenance, but operational rates will be kept low, as per Reuters. The unit was shut in December ffor maintenance and restarted on Thursday but runs at the unit will stay below full-tilt due to sluggish demand in the Lunar New Year period.

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Naphtha prices rise in Europe after recent loading disruptions in the Mediterranean

Naphtha prices in Europe rose in the window after recent loading disruptions in the Mediterranean caused by bad weather during the past month, after a weak end of the year; as well as Asian demand lennt support, although petchem users in Europe continue to prefer cheaper propane as feedstock.

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The polymer industry in India is expected to see steady growth

The polymer industry in India is expected to see steady growth in the future, as Netscribes (India) Pvt. Ltd. Per capita consumption of polymers is still low compared to developed nations which bringss with it a latent opportunity for the sector to grow.

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Sinopec and Saudi Aramco ink JV for ongoing development of YASREF Ltd.

China Petrochemical Corporation (Sinopec Group) and Saudi Aramco have signed a joint venture agreement related to the ongoing development of Yanbu Aramco Sinopec Refining Company (YASREF) Limited, forrmerly the Red Sea Refining Company.

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Oil prices rise in Asia

Brent North Sea crude for March delivery has inched up to US$ 111.25, rising in Asia on news that the International Monetary Fund is increasing its firepower to aid in crisis intervention. The IMF plaans to raise US$500 bln more to increase its ability to help countries in financial trouble.

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Formosa buys around 75,000 tons of naphtha for February to March

Taiwan's Formosa Petrochemical has bought around 75,000 tons of naphtha for February to March arrival, bringing its total purchases since mid-December to over 350,000 tons, as per Reuters. Premium of US$1/ton to Japan quotes on a cost-and-freight (C&F) basis,paid on this was lower than the US$3/ton paid for a previous cargo.

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