Poland's PKN cracker maintenance to cut 2008 chem sales by 10%
London — Planned maintenance at Poland's PKN Orlen steam cracker at Plock in late-second-quarter this year is expected to cut its sales of petrochemical products in 2008
Publication Date: MAR 2008
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Pricey NWE naphtha weighs on petchem margins, Asia crackers cut rates
London— Petrochemical cracking margins have fallen to close to breakeven levels amid near record-high naphtha prices in Northwest Europe, according to trading sources.
Publication Date: MAR 2008
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Taiwan's Chi Mei, GPPC mull merger of China PS, ABS businesses
Sydney — Taiwan's plastic resin producers Chi Mei Corp. and Grand Pacific Petrochemical Corp. are considering merging their polystyrene, acrylonitrile butadiene styrene and polymethyl methacrylate operations in
Publication Date: MAR 2008
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Tuntex Thailand says business continuity in doubt after 2007 loss
Sydney — Thai polyester yarn producer Tuntex Thailand said February 29 its business continuity was in doubt, after recording a net loss of Baht 1.3 billion ($42.1
Publication Date: MAR 2008
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Turkish court approves Petkim sale, rejecting union's case
Istanbul — Turkey's highest court, the Danistay, has approved the sale of state petrochemical company Petkim to an international consortium, the state news agency Anadolu Ajans reported
Publication Date: MAR 2008
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US PP exports decline over a two-week period on tight ship space
Houston — Exports for US polypropylene were reported to have suffered a dramatic decline over the last two weeks, according to market sources, March 5.
Publication Date: MAR 2008
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ARG partially shuts ethylene pipeline in Antwerp due to leak
London — Northwest European ethylene pipeline operator Aethylen-Rohrleitungs-Gesellschaft mbH & Co. KG (ARG) has partially shut its ethylene pipeline in Antwerp, Belgium, due to a leak, a
Publication Date: FEB 2008
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BP to overhaul refining & marketing arm, 2,000 jobs to be cut
London — BP plans to improve the pre-tax earnings of its downstream Refining & Marketing arm by as much as $4 billion within three to four years
Publication Date: FEB 2008
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German PVC producer Vinnolit 'cautiously optimistic' for 2008
Freiberg — German PVC producer Vinnolit is "cautiously optimistic" about the present business year, the company said during a press conference. However, a company spokesman said February
Publication Date: FEB 2008
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Indonesian TPPI declares force majeure on supplies from Tuban complex
Singapore— Indonesia's Trans-Pacific Petrochemical Indotama declared a force majeure, February 25 night local time, at its petrochemical complex as powerful waves breached a breakwater at the Tuban
Publication Date: FEB 2008
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Ineos to produce random PP, LL-HDPE swing at Grangemouth, UK
London—Ineos Polyolefins' liquid pool polypropylene plant at Grangemouth, Scotland is to undergo further technological development to produce random co-polymer grades, the producer announced Monday.
Publication Date: FEB 2008
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Iran's IPCC sells 4,500 mt ethylene to Europe, to issue fourth tender
Tokyo— The Iran Petrochemical Commercial Company has sold a 4,500 mt ethylene cargo to Europe for loading over March 5-6 from Assaluyeh and/or Bandar Imam Khomeini, sources
Publication Date: FEB 2008
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Israel objects to Russian partner in bid for Oil Refineries stake
Jerusalem — Israel's Government Companies Authority, February 24, rejected Israel Petrochemical Enterprises' bid for a controlling stake in Oil Refineries Ltd, objecting to the constitution of the
Publication Date: FEB 2008
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NYMEX says to soon offer ethanol futures contract
Orlando, Florida — The New York Mercantile Exchange expects to soon launch an East Coast ethanol futures contract, according to marketing information being distributed by the exchange
Publication Date: FEB 2008
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Odfjell cancels chem-ship order with Russia's Sevmash on delays
Sydney—Odfjell SE has canceled $544 million in shipbuilding contracts with Russian shipyard FSUE PO Sevmash for 12 chemical tankers, due to completion delays and illicit price increases,
Publication Date: FEB 2008
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Philippine NPCA shuts PE plant amid ethylene talks with Iran
Sydney — Philippine-based polyethylene producer NPC Alliance Corp., which briefly restarted its long-idled plant at Bataan late last year, has taken the facility offline again while it
Publication Date: FEB 2008
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Producers seek US nod this year for more ethanol in gasoline: RFA
Orlando, Florida — US ethanol producers will seek federal approval this year for greater levels of ethanol blended into gasoline than the currently allowed 10%, or E10
Publication Date: FEB 2008
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US 2008 ethanol capacity to climb another 4 billion gal: RFA
Orlando, Florida — The Renewable Fuels Association believes 4 billion gallons of US ethanol production capacity will come online this year from 68 plants under construction or
Publication Date: FEB 2008
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US Wellman files for Chapter 11 bankruptcy proceedings
New York — US PET maker Wellman Inc announced February 22 that it and certain of its subsidiaries filed voluntary petitions under Chapter 11 of the United
Publication Date: FEB 2008
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US nylon, fiber maker Solutia receives bankruptcy court approval
Singapore — US nylon and fiber producer Solutia has received bankruptcy court approval for its exit financing and related matters, a company press release said late February
Publication Date: FEB 2008
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US' Huntsman studies new MDI plant in Holland, may close old line
London—US-based Huntsman Corporation has commenced design and feasibility studies to increase its global capacity for methylene diphenyl diisocyanate (MDI) through investment in a new, world-scale plant at
Publication Date: FEB 2008
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Calderon launches $1.7 bil plan to boost Mexico petchems industry
Mexico City — Mexico's President Felipe Calderon announced a tender, February 18 that he hopes will encourage the private sector to revive the country's ailing petrochemicals industry
Publication Date: FEB 2008
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Coca-Cola sets goal to recycle 100% of PET bottles, aluminum cans
Washington — US bottler Coca-Cola Company on Wednesday announced a long-term target to recycle or reuse 100% of the aluminum beverage cans it sells in the US.
Publication Date: FEB 2008
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First ethanol swap deal against Platts assessment trades in NWE
London — The increasingly liquid European ethanol market saw the first ever ethanol swap trade, February 18, at $542/cubic meters versus the Mean of Platts T1 CIF
Publication Date: FEB 2008
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Formosa delays Ningbo PP plant start as C3 berth permit on hold
Tokyo — Taiwan's Formosa Plastics has to delay the start of its new 450,000 mt/year polypropylene plant at Ningbo, eastern China, until after April, a source close
Publication Date: FEB 2008
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German BASF in talks with 'one buyer' for its styrenics arm
London — German BASF said February 21 it was in negotiations with "one party" for the sale of its styrenics division, mooted since July last year.
Publication Date: FEB 2008
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Global butadiene supply tight on lack of feeds, spiking naphtha
Singapore, London, Houston — Global butadiene supplies remained tight for the week ending February 15, and into the following week, as a lack of feedstocks due to
Publication Date: FEB 2008
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Hungary's MOL sees stability in oil business, petchems faltering: CEO
Budapest — Hungary's MOL Group has seen a stable environment in its oil business so far this year, but the company is not likely to be able
Publication Date: FEB 2008
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Ineos agrees Q1 2008 acetone CP with Evonik at Eur755/mt FD NWE
London—Ineos Phenol has agreed its first quarter 2008 acetone contract with Evonik at Eur755/mt FD NWE, Ineos said February 19. Evonik was not available to confirm.
Publication Date: FEB 2008
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Iran launches exchange to trade oil products; petrochemicals
Tehran — Iran, February 17, inaugurated an oil exchange to trade oil products and petrochemicals in a bid by the OPEC oil producing state to expand its
Publication Date: FEB 2008
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Japan's Mitsubishi Chemical loses safety inspection license: METI
Tokyo — Japan's Ministry of Economy, Trade and Industry has canceled a voluntary safety inspection license of Mitsubishi Chemical's Kashima plant following a fire at the No.
Publication Date: FEB 2008
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Japan's naphtha stocks fall 2.9% to 10.87 mil barrels Feb 16
Tokyo — Japan's total naphtha inventory as of February 16 was about 10.87 million barrels, down 2.9% from the week ended February 9, the Petroleum Association of
Publication Date: FEB 2008
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NWE recyclers cite concern on PLA contamination of R-PET: Petcore
London — European PET recyclers have expressed concern that the presence of polylactic acid packaging (PLA) that are sorted in the PET bottle stream would affect on
Publication Date: FEB 2008
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Platts Podcast
Price of ethanol remains static
Publication Date: FEB 2008
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SUBSCRIBER NOTE
SUBSCRIBER NOTE: Platts invites you to the Platts Middle East Forum on Petrochemicals on March 12, 2008 at the Park Hyatt, Dubai. To register for this complimentary
Publication Date: FEB 2008
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Turkey's Petkim announces $30-$60/mt decreases on its PE grades
London — Turkey's polyethylene producer Petkim has reduced the prices for its polyethylene grades, a company source confirmed February 21. The price changes are effective from February
Publication Date: FEB 2008
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UAE's IPIC to invest $5 bil in Kazakhstan petchem plant: KMG
Almaty—International Petroleum Investment Co, the Abu Dhabi government's cash-rich investment vehicle, agreed February 17,Sunday to pour more than $5 billion into the development of a petrochemical complex
Publication Date: FEB 2008
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Asia-EU SM arbitrage unviable though arb opportunity seems opening
Singapore, London—Asia-Europe styrene monomer arbitrage is not viable even with feasible economics due to differences in specifications, market sources said.
Publication Date: FEB 2008
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Demand for sustainable packaging boosting R-PET consumption in UK
London—Strong demand for post consumer recycled material has boosted consumption of recycled PET, said Finland-based packaging producer Huhtamaki, Friday.
Publication Date: FEB 2008
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Dow Argentina plans $30-mil ethylene cracker upkeep for July
Houston—Dow Chemical's Argentina unit will close its ethylene cracker in Bahia Blanca in July for a $30 million maintenance project that will involve improving efficiency and environmental
Publication Date: FEB 2008
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Formosa returns to LPG market, eying feedstock switch in cracker
Singapore—Taiwan's Formosa Petrochemicals is seeking 22,000 mt of refrigerated LPG for delivery between late February and first-half March on a CFR Kaohsiung basis, traders said February 13.
Publication Date: FEB 2008
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Germany's PCK Schwedt FCC down; propylene supplies affected
London—Germany's PCK Raffinerie has brought down its 2.85 million mt/year fluid catalytic cracker at the 210,000 b/d refinery at Schwedt in Germany February 8 due to an
Publication Date: FEB 2008
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Iran's Arvand PVC, EDC, VCM units on by December: reports
London—The polyvinyl chloride, ethylene dichloride and vinyl chloride monomer units of Iran's Arvand petrochemical complex will likely pre-commission material in July and be fully on stream by
Publication Date: FEB 2008
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Iran's IPCC plans to sell 5,000 mt ethylene for Feb 17-18 loading
Tokyo—The Iran Petrochemical Commercial Company plans to sell 5,000 mt of ethylene via a tender for loading from Assaluyeh and/or Bandar Imam Khomeini over February 17 and
Publication Date: FEB 2008
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NWE naphtha-benzene spread widens to $395/mt on strong demand
London—The spread between European naphtha and benzene has widened to around $395/mt for the week beginning February 11, boosted by strong demand for prompt-arrival benzene, market sources
Publication Date: FEB 2008
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NWE petchem producers may use less butane due to weak propylene
London—Petrochemical companies in Northwest Europe are re-evaluating the economics of using butane as feedstock due to the weak market for propylene and its derivatives, industry sources said
Publication Date: FEB 2008
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NWE-US chemical freight rates fall below US-NWE on slowing trade
London—The cost of shipping chemicals from Northwest Europe's Amsterdam-Rotterdam-Antwerp trading hub to the US has fallen below rates for shipping chemicals the other direction, sources said February
Publication Date: FEB 2008
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Russian chem production up 7.2% Jan-Sep 07: Germany's trade body
Freiburg—Russia's chemical industry increased production by 7.2% in January-September 2007 compared to the same period the previous year, according to information from Germany's office of foreign trade,
Publication Date: FEB 2008
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UK to increase targets for packaging waste recovery, recycling
London—The UK government intends to steadily increase the targets for packaging waste recovery and recycling from 2008 to tackle climate change, the Department for Environment, Food and
Publication Date: FEB 2008
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Ukraine's KarpatNaftoKhim to increase 2008 PE, VCM output
Kiev—Ukraine's largest petrochemical company, KarpatNaftoKhim, plans to increase output of polyethylene by 6% to 108,200 mt year-on year in 2008, up from 102,000 mt produced in 2007,
Publication Date: FEB 2008
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Weak margin pulls French Total's Q4 petchem income down 66% on year
London—France's Total Petrochemicals reported that net operating income for the fourth quarter 2007 was Eur87 million ($126 million), down 66% from Eur255 million in Q4 2006 and
Publication Date: FEB 2008
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BP declares force majeure on PX supplies into Geel, Belgium
London — A workers' strike at BP's purified terephthalic acid complex at Geel, Belgium has crippled operations at the company's No 2 and No 3 unit, the
Publication Date: FEB 2008
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Blaze strikes problem at Mexico's Pemex petrochemicals plant
Mexico City — Firefighters from Mexico's Pemex rapidly put out a blaze January 31, at the state company's Pajaritos petrochemical complex in the southern Gulf state of
Publication Date: FEB 2008
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Bullish benzene market widens naphtha spread to 5-month high
London — A bullish streak in benzene that started in mid-December 2007 has caused the spread between benzene over naphtha to more than triple to $314.10/mt since
Publication Date: FEB 2008
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China lifts dumping duties on Korean PET chips, polyester fiber
Sydney—China lifted, from February 3, anti-dumping duties on PET chips and polyester staple fiber from South Korea, the Ministry of Commerce said.
Publication Date: FEB 2008
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EC approves acquisition of Shell's Berre refinery by Basell
London — The European Commission has cleared, under the EU Merger Regulation the proposed acquisition of the refinery Compagnie de Distribution des Hydrocarbures SAS (Berre Refinery) of
Publication Date: FEB 2008
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Iran's NPC awards Eur428 mil LDPE projects to Iran-Italy group
Tehran — Iran's National Petrochemical Company has awarded a Eur428 million ($633 million) project to an Iranian-Italian consortium to build two low density polyethylene plants, the oil
Publication Date: FEB 2008
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January Pricescore
January Pricescore
Publication Date: FEB 2008
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Keppel to supply gas to ExxonMobil's Singapore petchem complex
London, Singapore — Singapore's Keppel Gas, a subsidiary of Keppel Energy, has entered into a long term gas supply agreement with ExxonMobil to supply natural gas to
Publication Date: FEB 2008
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Lanxess restructure butyl operations, idles NBR unit at Sarnia
Houston — Germany's Lanxess Corp announced February 4 that it was restructuring its global rubber business at Sarnia, Canada. The company was implementing a 24-month restructuring to
Publication Date: FEB 2008
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Malaysia's Titan boosts share in Indonesian BOPP film firm to 90%
Tokyo — Malaysia's Titan Chemicals has boosted its share in Indonesia's biaxially-oriented polypropylene films and plastic sheets producer PT Fatrapolindo Nusa Industri to 90.40%, the company announced
Publication Date: FEB 2008
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NWE Feb-Mar ethylene CP settled at Eur1,020/mt FD, up Eur10/mt
London — An initial European bimonthly ethylene contract price settled January 31 at Eur1,020/mt FD NWE between German supplier BASF to Belgium-based PVC producer Solvay, Solvay reported.
Publication Date: FEB 2008
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NYMEX eyes plastic futures contract, details lacking
New York — NYMEX holdings, the parent company of the New York Mercantile Exchange announced in its earnings call February 1, 2008 that it was looking into
Publication Date: FEB 2008
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Pertamina, Japan's Toyo to boost propylene output at Balongan
Tokyo — Indonesia's state-owned oil and gas company Pertamina is expected to sign a $300 million engineering and procurement contract to boost propylene production at its 125,000
Publication Date: FEB 2008
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Platts European Cracker Margin index
Publication Date: FEB 2008
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Product Output ('000s mt)*
Product Output ('000s mt)*
Publication Date: FEB 2008
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US January PTA price increases with the paraxylene contract
New York—US' January purified terephthalic acid contracts were pegged close to 49.67 cents/lb ($1,095/mt) delivered, up 0.58 cents/lb due mainly to a 0.5 cents/lb increase in the
Publication Date: FEB 2008
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Asian MEG prices fall on weak demand, increased supply: sources
Singapore—Weak demand from polyester producers coupled with increased supply from the US and the Middle East is pushing down Asian monoethylene glycol spot prices, market sources said
Publication Date: FEB 2008
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Asian petchem sources foresee end of direct Taiwan-China shipping ban
Sydney—Petrochemical industry sources in Taiwan said January 29 they expected an eventual lifting of a long-standing ban on direct shipping between the island and China, as the
Publication Date: FEB 2008
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EC approves sale of Norsk Hydro polymers business to Ineos
London—The European Commission has approved the sale of the Hydro Polymers business from Norsk Hydro ASA to UK-based Ineos Capital, statements from both parties confirmed January 30.
Publication Date: FEB 2008
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High European styrene prices unlikely to be eased by imports
London—Runaway styrene monomer prices in Europe do not look likely to be dampened in the short term by movement from either east or west as supplies are
Publication Date: FEB 2008
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India's Haldia Petrochemicals delays steam cracker expansion to H2
Tokyo—India's Haldia Petrochemicals plans to shut the steam cracker at its Haldia complex in the second half of 2008 for a turnaround and expansion, a company source
Publication Date: FEB 2008
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Japan's Mitsubishi may restart fire-hit steam cracker around June
Sydney/Tokyo—It now appears unlikely that Japan's Mitsubishi Chemical will restart its fire-hit steam cracker at Kashima by late-March, as it is learnt that authorities investigating the mishap
Publication Date: FEB 2008
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Methanex's Chile methanol complex still to get Argentina gas
Tokyo—Methanex's giant methanol complex at Cabo Negro, Chile was continuing to face a complete cut of natural gas supplies from Argentina, the Canada-based company announced January 23.
Publication Date: FEB 2008
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Product Output ('000s mt)*
Product Output ('000s mt)*
Publication Date: FEB 2008
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Russia's Sibur plans new PE plant in Astrakhan, doubling 2008 capex
London—Russia's Sibur plans to construct a new polyethylene complex with a capacity of between 450,000-500,000 mt/year, in the Astrakhan Region, located in the Caspian Lowlands of southwestern
Publication Date: FEB 2008
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SABIC restoring normal MEG runs at Al-Jubail 6 months after blast
Sydney—Saudi Arabia's SABIC is aiming to restore normal monoethylene glycol production rates at Al-Jubail by early February, ending six months of reduced output due to a shortage
Publication Date: FEB 2008
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SABIC, Sinopec to build 1 mil mt/year PE-MEG plant in Tianjin
London—China Petroleum and Chemical Corporation (Sinopec) and Saudi Basic Industries Corporation (SABIC), January 31, signed a Heads of Agreement to form a 50:50 joint venture company to
Publication Date: FEB 2008
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Saudi SABIC to launch two new MEG joint venture plants by November
Sydney—Saudi Arabia's SABIC is to bring online two new monoethylene glycol plants this year, one each in Al-Jubail and Yanbu, a company source said January 30.
Publication Date: FEB 2008
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Shell puts US butadiene customers on 90% allocation for February
Houston—Shell Chemicals put its US butadiene customers on 90% allocation in February, said a source familiar with the company's operations January 28.
Publication Date: FEB 2008
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