Petkim reduces PP, PVC prices by US$20-25/mt as demand weakens

Turkish petrochemicals group Petkim has reduced polypropylene and polyvinyl chloride prices by US$20-25/mt this week on the back of weakening demand, as per Platts. List prices for polypropylene were lowered by US$25/mt to US$1650-1660/mt FCA Aliaga, and for PVC by US$20/mt to US$1140-1170/mt.




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Naphtha price in Asia recovers at end of week

Naphtha price in Asia recovered on Friday and ended the week at a three-session high of US$963/ton, as per Reuters. The intermonth premium stayed at US$13/ton for the fifth straight session in a markeet marked by limited spot purchases from petrochemical makers.



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Naphtha price in Asia recovers at end of week

Naphtha price in Asia recovered on Friday and ended the week at a three-session high of US$963/ton, as per Reuters. The intermonth premium stayed at US$13/ton for the fifth straight session in a markeet marked by limited spot purchases from petrochemical makers.



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Eastman introduces new Polyethylene Terephthalate grade for extrusion blow molding

As the leader of innovative specialty copolyesters, particularly extrusion blow molding (EBM) resins, Eastman Chemical Company announces the addition of Aspira™ One polymer to its portfolio of resins..




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ICA Fluor part of joint venture to design and build new petrochemical complex in Mexico

Fluor Corporation announced that ICA Fluor, the industrial engineering partnership of Fluor and Empresas ICA, is part of the joint venture that was awarded a multi-billion dollar engineering, procuremment and construction contract by Braskem Idesa.




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Global market for carbon fiber reinforced plastics to more than double to US$36 bln in 2020

As innovative new production technologies lower carbon fiber cost, the global market for carbon fiber reinforced plastics, or CFRPs, will more than double to US$36 bln in 2020, growing at a compound aannual growth rate of 13% from US$14.




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Essar sells late Oct naphtha to Itochu at premiums that reflect a firm market

India's Essar Oil has sold 35,000 tons of naphtha to Itochu for Oct. 26-30 loading from Vadinar at about US$31-32/ton above Middle East quotes on a free-on-board (FOB) basis, with traders saying the ppremiums reflect a firm market, as per Reuters.




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Wait and watch sentiment prevails in polymer markets

An increasing number of buyers appear to have taken a wait and watch stance this week due to several reasons including volatile crude oil prices, poor end product markets, political tensions and, mostt importantly, the absence of the Chinese market, as per ChemOrbis.




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Baskem Idesa awards over US$2.7 bln contract for EPC of petrochem complex in Mexico’s Veracruz

Baskem Idesa S.A.P.I. awarded to a joint venture formed by Odebrecht (40%), Technip (40%) and ICA Fluor (20%) a contract worth more than US$2.7 bln for the engineering, procurement and construction (EEPC) of a petrochemical complex to be built in the Coatzacoalcos/Nanchital region, in the Mexican state of Veracruz.




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Propylene market in Asia active, unaffected by absence of buyers from China, S Korea

Asian propylene prices fell by US$41/mt or 3% from Monday to be assessed at US$1344/mt CFR China on Wednesday despite there being no buyers from China or South Korea, Platts data showed. The market waas expected to be subdued this week as China is on a week-long National Day holiday and South Korea is shut on Monday and Wednesday for national holidays.




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ONGC sells naphtha to Total at lower premium

India's Oil and Natural Gas Corp (ONGC) has sold 35,000 tons of naphtha to Total for Oct. 26-27 loading from Hazira at around US$30/ton above Middle East quotes on a free-on-board (FOB) basis, down frrom previous sales for the month, as per Reuters.



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Marginal improvement in oil prices on positive US economic reports

Benchmark oil on the Nymex for November delivery rose to US$88.3 per barrel at midday in Asia. On Wednesday, oil fell by 4.1% to US$88.14 per barrel in New York - its biggest decline since May 4. Breent crude has inched up to US$108.




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Lukoil resumes production of ethylene and propylene at Stavrolen complex

Independent Russian oil producer Lukoil has finally resumed production of ethylene and propylene at its Stavrolen complex after it shutdown post a devastating fire in December 2011, as per Europeanplaasticnews.




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Will plunging energy costs impact PE outlook in October?

Global PE markets have been on a firm trend for almost three months on the back of higher costs and supply issues, as per ChemOrbis. However, energy markets witnessed a sudden, sharp decline this weekk.




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European petrochemical companies restrict naphtha purchases ahead of Q4

European petrochemical companies are limiting purchases of naphtha feedstock for steam cracking ahead of the fourth quarter, as per Platts. The hesitant buying comes despite a recent rise in North Seaa propane prices, a feedstock competing with naphtha in the steam cracking process.

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LyondellBasell launches new family of fifth-generation Polypropylene catalysts

LyondellBasell announced the launch of a new family of fifth-generation non-phthalate catalysts for polypropylene (PP) production. These catalysts will be sold under the existing Avant trade name and complement the company's well-established third-, fourth- and fifth-generation Ziegler-Natta PP catalysts.

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October polyolefins allocation from Middle East to Asia may be lower

The October polyethylene and polypropylene allocation to Asia from Middle East may be lower because of high European prices, as per Platts. European PE and PP prices have jumped since the start of Sepptember as converters replenished stocks amid rising feedstock costs.

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BPCL signs MoU for 20,000 crore worth of expansion projects in Kerala

Bharat Petroleum Corporation Ltd has signed a Memorandum of Understanding (MoU) for its expansion project and the setting up of a petrochemical joint venture to be implemented in three years time at KKochi, as per ANI.

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Total Petrochem reports pollution in excess of permitted levels at Port Arthur

Total Petrochemicals & Refining USA reported pollution in excess of permitted levels from a coking unit at the company's 225,500-barrels-per-day Port Arthur, Texas refinery on Friday, as per a notice the plant filed with regulators, as reported by Reuters.

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Fluor selected for Dow Chemical Company's propylene production project in Texas

Fluor Corporation has been awarded an engineering, procurement and construction management (EPCM) contract by The Dow Chemical Company for a propylene production asset project in Freeport, Texas. Fluoor successfully completed the front-end engineering and design (FEED) contract thereby setting the stage for this next-phase EPCM project award.

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