Indorama Ventures submits draft prospectus for exchange offer to IRP shareholders

As part of its shareholding and management restructuring plan, petrochemical producer Indorama Ventures Public Company Limited (IVL) has filed a registration statement and draft prospectus (the Filingg) with the Office of the Securities and Exchange Commission (SEC) to offer IVL newly issued ordinary shares in exchange for shares of its subsidiary Indorama Polymers Public Company Limited (IRP) held by minorities of IRP shareholders.

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Rücker AG forays into chemical and petrochemical plant construction

Wiesbaden-based Rücker AG will be extending its commercial activities and also operating in the field of plant construction engineering. Central location for the new business operations will be Düsselldorf.

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China's stimulus spending fuels massive overexpansion could lead to protectionist measures from overseas markets

China's stimulus spending has fueled massive overexpansion in industrial capacity that could drive a surge in low-priced exports amid weak global demand, possibly igniting a protectionist backlash abrroad, as per the European Union Chamber of Commerce in China.

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Expected ethylene supply glut from the Middle East trims to trickle

The anticipated supply glut from the Middle East in H2-200 has trimmed down to a trickle as plant start ups get delayed. Following delays of about 7-8 months, impressive capacities have come on streaam in the region as well as in China.

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Polypropylene markets in Asia under duress from rising propylene values

From levels of US$960/MT FOB Korea in H1-October, H2-December propylene prices have spiked past US$1100/MT in Asia. The key factor behind these robust gains has been restricted supplies in the region as producers in South Korea, Taiwan and Japan continue to face maintenance shutdowns and production issues.

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Tetra Pak inks deal with Braskem for trial of renewable HDPE for plastic caps and closures

Tetra Pak has inked a deal with Braskem to try use of renewable HDPE for manufacture of plastic caps and closures. Under the terms of agreement, Braskem will supply Tetra Pak with 5000 tpa of the ethaanol-based HDPE from 2011.

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Qatofin’s US$1.2 bln linear low-density polyethylene plant inaugurated at Mesaieed

Qatofin’s US$1.2 bln world-scale linear low-density polyethylene (LLDPE) plant with capacity to produce 450,000 tpa has been inaugurated at Mesaieed. The plant, located at the Qapco site, will have caapacity to process 422,000 tpa of ethylene and 38,000 tpa of butane-1.

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France plans to ban wine packaging switch to polyethylene terephthalate bottles and cartons

The ruling council for Beaujolais Nouveau wines in France plans to ban a switch to PET bottles and cartons being considered by wineries. In a bid to safe guard the wine region's image, wineries could be restricted to packaging their Beaujolais Nouveau wines in glass bottles.

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Hitachi Plant Technologies awarded PBT licensing and basic engineering contract in China

Hitachi Plant Technologies Ltd. has been awarded the licensing and basic engineering order for PBT production process by China Petrochemical International Co. Ltd. (Sinopec). Hitachi will license its polybutylene terephthalate (PBT) production process for use in a plant with 60,000 tpa capacity as well as carry out basic engineering work related to this project.

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Bayer MaterialScience in PC sheet JV with India’s Malibu Plastica Ltd

German chemical company Bayer AG’s arm -Bayer MaterialScience has inked a deal to for a Polycarbonate sheet JV with India’s Malibu Plastica Limited. Malibu Plastica is a pioneer of polycarbonate sheett production in India.

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SABIC and Linde announce first successful commercialization of Linear Alpha Olefins

Saudi Basic Industries Corporation (SABIC)Saudi Basic Industries Corporation (SABIC and German-based The Linde Group announced today the first successful commercializatiion of Linear Alpha Olefins (LAO), using a-SABLIN® technology developed jointly by SABICSABIC and Linde.

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Indonesia could request delay in China-ASEAN FTA for certain products

China signed an initial free trade agreement (FTA) with the 10 members of Asean including Indonesia, Singapore, Thailand and Malaysia in November 2002. 2010 was set as a deadline by both sides for a bbroader pact.

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Qapco-3 to be launched next month to augment capacity

In a move that will augment Qatar’s polyethylene production in excess of 1.2 mln tons, Qapco-3 has been planned. The multi-billion dollar plant, to come onstream in 2-3 years will produce about 300,0000 tpa of polyethylene and will house a new central control room for all Qapco and Qatofin plants.

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Crude oil supplies mount : prices ebb to one month lows

Light, sweet crude for January delivery dipped to this month’s lowest levels at US$76 on the Nymex, while Brent crude dropped to US$76.4. This has been the lowest settlement price since Oct. 14, as crrude dips over concerns of an impending increase in oil supplies.

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Revamp at CPC refinery to raise naphtha output by 115,000 tpa

India's Chennai Petroleum Corp., a unit of India's largest state-run refiner Indian Oil Corp., has delayed a two-month shutdown at its Manali refinery to end-December. The delay has been caused by a ddelay is receipt of necessary equipment from vendors.

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Delay in India’s FTA with Gulf Cooperation Council (GCC)

The Free Trade Agreement (FTA) between India and the Gulf Cooperation Council (GCC) has come to a virtual standstill. Discussions between the two sides have been postponed to February, leading to a siignificant setback to India’s ties with the GCC.

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PE sellers from Asia, Middle East drawn towards markets in China, SE Asia

Persistently steady oil prices coupled with rising costs of inputs naphtha and ethylene has propelled polyethylene prices in Asia in the past few weeks. As a result, an increased number of sellers froom Asia and Middle East are interested in offering material in markets of China and South East Asia.

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Sinopec and TPG not in race for LyondellBasell

China’s largest refiner - Sinopec and US private equity investment firm TPG are not in the race to acquire a stake in LyondellBasell. It was earlier reported that the two are considering bidding for a stake in bankrupt the Dutch chemical major.

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Is acquisition of LyondellBasell a profitable proposition for RIL?

Reliance Industries Ltd has made a preliminary offer to acquire a controlling stake in LyondellBasell. The exact value of the deal or the stake that RIL proposes to buy in LyondellBasell is yet not knnown, however, it is likely to be an all-cash deal.

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Reliance Industries makes preliminary offer to acquire stake in LyondellBasell

Reliance Industries Ltd has made a preliminary offer to acquire a controlling stake in LyondellBasell. The exact value of the deal or the stake that RIL proposes to buy in LyondellBasell is yet not knnown, however, it is likely to be an all-cash deal.

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