Singapore's Jurong Aromatics, BP ink feedstock, products deal
Sydney—Singapore's Jurong Aromatics Corp, which is building a condensate-based aromatics complex at Jurong Island by 2011, has inked a contract to buy its feedstock from BP, the
Publication Date: FEB 2008
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Ukraine petrochemical giant may stop all output in February
Kiev—Ukraine's largest petrochemical company KarpatNaftoKhim may completely suspend operations in February due to a significant drop in ethylene sales on the European market, the company said January
Publication Date: FEB 2008
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ACN spot FOB USG
Publication Date: JAN 2008
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Chevron Phillips to build nylon plant in Al-Jubail after Sep 2012
Sydney—Chevron Phillips Chemical Co (CPChem). is working on its first nylon investment for Al-Jubail, Saudi Arabia, tentatively slated for start up after September 2012, a company source
Publication Date: JAN 2008
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EC fines Bayer, Zeon Eur34 mil for fixing butadiene rubber prices
London—The European Commission has imposed fines totaling Eur34.2 million ($50.6 million) on Germany's Bayer and Japan's Zeon for fixing prices for nitrile butadiene rubber, the Commission announced
Publication Date: JAN 2008
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EC's 2020 CO2 targets for non-ETS sectors compared with 2005 base year
EC's 2020 CO2 targets for non-ETS sectors compared with 2005 base year:
Publication Date: JAN 2008
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European Commission targets further 14% cut in emissions by 2020
London—The European Commission in Brussels, January 23, adopted detailed emissions targets as part of the new EU climate change package.
Publication Date: JAN 2008
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Iran NPC's methanol output plunges on Zagros, Fanavaran outages
Tokyo—Iran's state-owned National Petrochemical Company has seen its methanol output plunging on two unplanned shutdowns at both Zagros and Fanavaran, a source close to the company confirmed
Publication Date: JAN 2008
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Iran's petrochemical exports top $4 billion over Mar-Dec
Tehran—Iran exported 7.026 million mt of petrochemical products worth $4.269 billion in the 10-month period since the start of the current Iranian year to the end of
Publication Date: JAN 2008
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MTBE stocks in the ARA region plunge 150,000 mt: trader
London—MTBE exports to Venezuela combined with poor re-supply, has led to a fall of 150,000 mt in MTBE stock levels and a rise in prices in Northwest
Publication Date: JAN 2008
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Negotiations on styrene monomer 2008 Asian term contracts end
Singapore — Styrene monomer term contracts for 2008 involving producers, traders and end-users in Northeast Asia have concluded, market participants said January 22.
Publication Date: JAN 2008
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New Hampshire refiles lawsuit against MTBE makers, blenders
New York—The state of New Hampshire has refiled a lawsuit in state superior court against makers and blenders of the oxygenate MTBE, seeking compensation for tainted water
Publication Date: JAN 2008
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Nylon, fiber producer Solutia delays bankruptcy reorganization
Houston—Nylon and fiber producer Solutia Inc announced January 23 that the effective date of its reorganization plan reorganization and its emergence from Chapter 11 will be delayed
Publication Date: JAN 2008
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Pakistan PTA Ltd. resumes deliveries despite disturbances
Sydney— Pakistan PTA lost some purified terephthalic acid supplies en-route to local customers amid the chaos following the shooting of opposition leader Benazir Bhutto on December 27,
Publication Date: JAN 2008
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Platts Podcast
Changing dynamics in the European polyethylene market
Publication Date: JAN 2008
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Regional steam cracker outages drive Asian ethylene prices higher
Tokyo—A series of naphtha-fed steam cracker outages have pushed Asian spot prices for ethylene to $1,400/mt, according to market sources and Platts data, January 18.
Publication Date: JAN 2008
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Spain's La Seda defers plan to acquire Cepsa's Interquisa
Barcelona—La Seda de Barcelona's plan to acquire Cepsa petrochemical subsidiary Interquisa, through a Eur595 million ($869 million) cash payment and share transfer operation, has been put on
Publication Date: JAN 2008
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US ACN producers face cost push from ammonia, propylene
Houston — US acrylonitrile producers were faced with increasing cost pressures from propylene and ammonia costs, sources reported. US January chemicals grade propylene contracts reportedly settled up
Publication Date: JAN 2008
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Asian OX spot price FOB Korea
Publication Date: JAN 2008
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China's ban on fine plastic bags unlikely to dent PE consumption
Sydney—China's move to ban the production, sale and use of ultra-fine plastic bags from June 1 was not expected to substantially dent its consumption of polyethylene resin,
Publication Date: JAN 2008
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Dow Chemical lifts force majeure on MEG, DEG sales in N. America
Houston—Dow Chemical Company ended its force majeure and related volume allocation for monoethylene glycol and di-ethylene glycol sales in North America, a company spokesperson confirmed January 11.
Publication Date: JAN 2008
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European cracker turnaround schedule for 2008
European cracker turnaround schedule for 2008
Publication Date: JAN 2008
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Formosa on schedule with first propylene cargo for Ningbo tank
Tokyo—Taiwan's Formosa Petrochemicals was on track with its plan to ship out the first cargo of propylene for its tank at Ningbo, China from the end of
Publication Date: JAN 2008
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Formosa's No 3 naphtha cracker to be restarted this week
Tokyo—Taiwan's Formosa Petrochemicals believes it can restart its troubled No. 3 naphtha cracker at Mailiao by the end of the week, a company source said January 14.
Publication Date: JAN 2008
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Ineos delays lift of Antwerp phenol force majeure to February
London—Ineos Phenol has delayed lifting force majeure at its 500,000 mt/year phenol and 300,000 mt/year acetone plants at Antwerp, Belgium, until a second production line has successfully
Publication Date: JAN 2008
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Ineos to buy BP's VAM, etac businesses at Hull, UK
London—UK's Ineos announced January 11 that it has reached an agreement to buy the vinyl acetate monomer and ethyl acetate businesses from BP.
Publication Date: JAN 2008
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Initial European January PX CP done at Eur793/mt FD, up Eur21/mt
London—An initial Northwest Europe paraxylene contract price for January has been agreed at Eur793/mt FD NWE, the consumer and producer involved in the settlement confirmed January 15.
Publication Date: JAN 2008
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Japan's Shin-Etsu Chemical posts 27% rise in profit in Apr-Dec
Tokyo—Japan's Shin-Etsu Chemical posted a consolidated net profit of Yen 143.3 billion ($1.34 billion) for the first nine months of the current fiscal year (April 2007-March 2008),
Publication Date: JAN 2008
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Japan's ethylene, propylene exports to fall in 2008: METI
Tokyo—Ethylene and propylene exports from Japan are expected to show a year-on-year decline in 2008 amid uncertainty over US economy and Chinese demand, the latest report by
Publication Date: JAN 2008
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Japan's naphtha output drops 13.2% to 2.89 million barrels Jan 12
Tokyo—Japan's total naphtha output over January 6-12 was 2.89 million barrels, dropping 13.2% from 3.33 million barrels in the week ended January 5, the Petroleum Association of
Publication Date: JAN 2008
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Korea's DC Chem lobbies to end prejudice facing coal-based benzene
Singapore—South Korea's DC Chemical hopes a major technological upgrade at its plant will allow it to sell its coal-based benzene into the wider market for petroleum-based benzene
Publication Date: JAN 2008
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Merger of BASF, Sinopec's Nanjing JVs progressing though delayed
Sydney—A planned merger of German-Sino petrochemicals companies BASF-YPC Co Ltd and Yangzi-BASF Styrenics was in process, although there was no definitive time for its completion, a BASF
Publication Date: JAN 2008
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NWE PE producers push for higher UK prices to offset weak GBP
London—European polyethylene producers want to hike UK polyethylene prices in January to compensate for the British pound's depreciation against the euro, which has created a significant disparity
Publication Date: JAN 2008
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NWE petchem producers start to buy propane for cracker feedstock
London—Petrochemical companies in Northwest Europe are already starting to buy cargoes of North Sea propane, according to industry sources January 16.
Publication Date: JAN 2008
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NWE traders seek PTA openings after La Seda purchase of Interquisa
London—Traders of purified terephthalic acid (PTA) in Europe this were hoping to strike up long-term deals with polyester and PET customers expecting to seek competitive alternatives for
Publication Date: JAN 2008
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Northeast Asia's orthoxylene exporters foresee tough 2008
Singapore—Northeast Asia's orthoxylene producers expect 2008 to be a difficult year given poor demand from end-users in the key market of eastern China, sources said.
Publication Date: JAN 2008
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US MEG spot price
Publication Date: JAN 2008
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Emergency fuel surcharges hinders Asia to US PET trade
New York—Emergency fuel recovery surcharges have put a dent into the Asia to US PET trade, industry sources said January 8.
Publication Date: JAN 2008
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European ethylene spot price
Publication Date: JAN 2008
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Initial European MEG Jan CP set at Eur1,175/mt FD, down Eur30/mt
London—An initial European monoethylene glycol contract for January has been settled January 8 at Eur1,175/mt FD NWE, both parties involved in the settlement confirmed. The settlement was
Publication Date: JAN 2008
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LyondellBasell turns to butane as feedstock on high naphtha price
London—Petrochemicals major LyondellBasell has started to crack butane as a feedstock again at its steamcracker in southern France, trading sources said January 8, as the cost of
Publication Date: JAN 2008
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NWE ethylene spot market may soften on subdued PVC demand:sources
London—The Northwest Europe spot ethylene market may soften on the back of subdued demand from the PVC market, market sources said January 8.
Publication Date: JAN 2008
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NWE methylene chloride market awaits EC decision on paint stripper
London—The methylene chloride market was awaiting clarification from the European Commission on the future of the solvent's use in paint stripper products, a source from the European
Publication Date: JAN 2008
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NWE toluene holds above $910/mt on firm demand for gasoline blend
London—European toluene prices held on to recent gains above $910/mt FOB Rdam due to good gasoline blend values and good demand for export to India, sources said
Publication Date: JAN 2008
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Nova Chemicals plans to spend $80 million on Ontario PE expansion
Houston—Canada's Nova Chemicals Corporation is to spend around $80 million to modernize and expand its polyethylene plant in the Sarnia, Ontario, region, the company announced Wednesday.
Publication Date: JAN 2008
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Pakistan must build cracker to compete in the global petchem arena
Sandwiched between India and China, to its east, and Iran and Saudi Arabia to its west, Pakistan's under-developed petrochemicals industry need to undergo a radical change if
Publication Date: JAN 2008
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Philippine Pepsi bottler to use IPO funds to boost PET capacity
Sydney—Pepsi-Cola Products Philippines Inc. plans to raise Peso 4.4 billion ($107.8 million) in an initial public offering on the Philippine Stock Exchange, of which Peso 335 million
Publication Date: JAN 2008
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Saudi Arabia's PetroRabigh joint venture opens $1.23 billion IPO
Dubai—PetroRabigh, a 50:50 joint venture between Saudi Aramco and Sumitomo Chemical of Japan, said January 5 it had opened its Riyal 4.599 billion ($1.23 billion) initial public
Publication Date: JAN 2008
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Shell cuts Asian MEG Feb CP to $1,500/mt CFR, MEGlobal at $1,460/mt
Singapore—Shell Chemical has announced its monoethylene glycol Asian Contract Price for February at $1,500/mt, a company source said January 8.
Publication Date: JAN 2008
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Toluene overhang further weakens 'dismal' Southeast Asia market
Singapore—Southeast Asia's toluene business kicked off to a poor start in 2008, inundated by mounting inventories in the region. Key markets there have been facing difficulty digesting
Publication Date: JAN 2008
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UK PET consumers facing new currency threat on sterling weakness
London—Consumers of PET in the UK were facing further cost pressure in January 2008 as sterling continued to weaken against the euro and a number of them
Publication Date: JAN 2008
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December Pricescore
December Pricescore
Publication Date: JAN 2008
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Dow expects Michigan dioxin clean-up approval could take two years
Houston/Singapore—Dow Chemical expected to determine its plan for corrective action to clean up dioxin contamination in the Tittabawassee River system in Michigan could take up to two
Publication Date: JAN 2008
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European Q1 methanol CP fully agreed at Eur490/mt FOB: sources
London—The first quarter 2008 European methanol contract price was settled at Eur490/mt FOB Rotterdam, up from Eur380/mt FOB Rotterdam for Q4, market participants reported December 28.
Publication Date: JAN 2008
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European steam cracker contract margins turn negative in December
London—The relentless strength in European naphtha prices, which closed December 28 at a year high of $865/mt CIF NWE, pushed the production margins of European cracker operators,
Publication Date: JAN 2008
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India to reduce taxes on Singapore chemicals, plastics, textiles
Sydney—India is planning to reduce, and in some cases, eliminate eventually, import taxes on certain chemical, textile, plastic and rubber products from Singapore, between 2008 and 2015,
Publication Date: JAN 2008
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Indonesian Chandra Asri to cut cracker rates on high naphtha cost
Singapore—Indonesia's Chandra Asri planned to cut operating rates at its sole cracker in Anyer, West Java, in the first week of January because of high naphtha costs
Publication Date: JAN 2008
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SABIC board recommends a 20% increase in capital to $8 billion
Dubai—The board of Saudi Basic Industries Corp (SABIC) said December 30 it recommended to the extraordinary general assembly an increase in the company's capital to 30 billion
Publication Date: JAN 2008
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Turkey's Cevahir denies reports about problems with Ceyhan project
Istanbul—Turkey's Cevahir Group denied media reports that its application to build an oil refinery and petrochemical complex at the Mediterranean oil hub of Ceyhan was rejected by
Publication Date: JAN 2008
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Braskem, Pequiven eye $3.5 billion build of PP, PE plants by 2010
Houston—Braskem, Brazil's third-largest industrial company owned by the private sector, and Venezuela's state petrochemical company, Pequiven, announced December 13 the creation of two companies, Propilsur and Polimerica,
Publication Date: DEC 2007
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EC inspects Hydro's UK PVC operations in Ineos investigation
London—The European Commission's competition authorities, assisted by the UK Office of Fair Trading, has performed an inspection at the UK site of Norway-based PVC producer Hydro Polymers,
Publication Date: DEC 2007
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GPCA Wrap: Mideast set to dominate petchems as Saudi takes lead
Dubai—The global petrochemical industry was facing unprecedented challenges never before experienced given high feedstock costs, a weakening economic situation, soaring capital expenditure, intensified competition, overcapacity, increased scru
...
Publication Date: DEC 2007
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Research, innovation key to Europe chemicals competitiveness: EC
London—To maintain the leading position of the European chemical industry, the European Commission urged the European chemicals companies to concentrate on research and innovation, the EC said
Publication Date: DEC 2007
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S Korean FTC to finalize LDPE/LLDPE cartel probe December 20
Tokyo—South Korea's Fair Trade Commission has scheduled a meeting December 20, to discuss the results of its investigations into alleged price-fixing by South Korean companies for low
Publication Date: DEC 2007
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Saudi's Zamil Group plans petchem spin-off in 2009: chairman
Dubai—Saudi Arabia's Zamil Group is planning to spin off its upstream and downstream petrochemicals and plastics activities, possibly by 2009, said chairman Abdulrahman Al Zamil, Thursday, at
Publication Date: DEC 2007
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UK chemical organization slams REACH agency's 'excessive' fees
London—The UK's Chemical Business Association slammed "excessive" fees proposed by the new European Chemicals Agency related to extensive new European chemical testing regulation of the industry, saying
Publication Date: DEC 2007
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US' Dow, Kuwait's PIC announce $11 billion petrochemicals JV
London, Sydney—US Dow Chemical Company and Petrochemical Industries Company of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation, December 13 announced plans for a major petrochemicals
Publication Date: DEC 2007
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Asia likely to see MTBE crunch in 2008 amid rising demand: sources
Singapore—Asia might see an acute shortage of MTBE in 2008 amid burgeoning demand for gasoline and petrochemical sectors, according to market sources.
Publication Date: DEC 2007
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Benzene cargoes head to US despite closure of arbitrage window
Singapore—A large amount of Asian benzene cargoes were set to head from South Korea to the US in December, despite a mere $39/mt spread between benzene prices
Publication Date: DEC 2007
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China, India, Middle East creating petchem 'Silk Road': Reliance
Dubai—The growth and globalization of the petrochemical industry, especially in Asia, will create a new age "Silk Road" between China, India and the Middle East, said Mukesh
Publication Date: DEC 2007
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East China styrene prices fall below key Yuan 11,000/mt mark
Singapore—East China styrene monomer domestic prices fell through the Yuan 11,000/mt mark December 11, triggering a massive sell-off in domestic and imported cargoes, Chinese market sources said.
Publication Date: DEC 2007
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Hijacked chemical tanker Nori freed after seven weeks
Sydney--A group of pirates freed the chemical tanker Golden Nori December 12. The priates hijacked the tanker off Somalia seven weeks ago, along with a crew of
Publication Date: DEC 2007
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India's Reliance hikes paraxylene imports in November, December
Singapore—India's Reliance Industries Ltd increased its paraxylene imports for November and December, although it is the country's largest PX producer and typically a net exporter, market sources
Publication Date: DEC 2007
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Ineos, Ertisa to negotiate free delivered NWE monthly phenol CPs
London—European producers, Ineos Phenol and Ertisa signaled their intent to negotiate freely delivered phenol contracts in January 2008 as opposed to a strict benzene formula-linked monthly contract,
Publication Date: DEC 2007
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S&P sees European chemical sector slowdown in 2009
London—Ratings agency Standard & Poor's projected that the European chemical industry would slow down in 2009 but remain strong in 2008, S&P said December 12.
Publication Date: DEC 2007
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Shanghai Petroleum Exchange launches methanol futures contract
Hong Kong—China's Shanghai Petroleum Exchange launched December 7 a methanol futures contract to be traded in the local currency, the exchange said.
Publication Date: DEC 2007
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Soaring capital costs to delay, cancel petchem projects: SABIC CEO
Dubai—The increase in capital cost currently faced by petrochemicals producers is expected to delay, or even cancel a number of petrochemical projects, Mohamed Al-Mady, CEO of SABIC,
Publication Date: DEC 2007
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Socar-led group to invest $20 billion in Turkish refineries, petchems
Istanbul—The consortium of Azeri state-owned oil company Socar, Turkish distributor Turcas and Saudi-based financier Injaz Projects has to invest a total of $20 billion in refinery and
Publication Date: DEC 2007
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Steep backwardation deters prompt NWE naphtha buyers: sources
London—Steep backwardation in the European naphtha market helped subdue prompt demand for naphtha, as sources saw market players looking to January to restock or to work the
Publication Date: DEC 2007
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US Senate panel approves Chemical Safety Board nominees
Houston—The US Senate Environment and Public Works Committee approved the federal Chemical Safety Board nominations of John Bresland, who would serve as chairman, and Russell Shearer, who
Publication Date: DEC 2007
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