ANALYSIS: European oxo alcohols, plasticizers firm 2007; 2-EH, DOP tight
Freiburg, Germany—The Northwest European oxo alcohols and plasticizer markets went from strength to strength through 2007, overturning the sluggish sales prevalent in the market in 2006 when
Publication Date: DEC 2007
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Asia's phenol-acetone plant maintenance turnaround schedule 2008
Asia's phenol-acetone plant maintenance turnaround schedule 2008
Publication Date: DEC 2007
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Brazil's Braskem to incorporate major Petrobras petchems stakes
Rio de Janeiro—In a major consolidation of Brazil's petrochemicals industry, private industry resin-maker Braskem SA, Latin America's largest petrochemicals company, said November 30 it signed a deal
Publication Date: DEC 2007
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Dow to close plants, layoff workers in consolidation move
New York—Dow Chemical Co is to close several production facilities and eliminate 1,000 jobs throughout the company in an effort to become more competitive, Dow announced December
Publication Date: DEC 2007
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Europe oxos hit record highs
Publication Date: DEC 2007
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European styrene December average CP settles at Eur986/mt FD
London—Three separate European styrene monomer barge contract prices for December has been agreed December 3, sources involved in various settlements reported.
Publication Date: DEC 2007
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India cuts import duties on PX, PTA, MEG, polyester fiber
New Delhi—The Indian government, November 29, slashed customs duty on the import of polyester staple fiber, polyester filament yarn, man-made fibers and polyester intermediates.
Publication Date: DEC 2007
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Ineos Nova to shut US polystyrene facility at Belpre, Ohio
London—UK-Canadian styrenics joint venture Ineos Nova plans to permanently shut down its US polystyrene facility at Belpre, Ohio, by January 31, 2008, the company announced November 29.
Publication Date: DEC 2007
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North China styrene monomer prices collapse on crumbling demand
Singapore—North China styrene monomer prices collapsed Yuan 600/mt in one week as major producers in the region slashed benchmark offer prices due to almost nonexistent demand, Chinese
Publication Date: DEC 2007
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November Pricescore
November Pricescore
Publication Date: DEC 2007
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Ransom talks for chemical ship Nori as hijacking enters 6th week
Sydney—Ransom negotiations were underway as chemical tanker Golden Nori entered its sixth week in captivity off Somalia, a source familiar with the hijacking said December 3.
Publication Date: DEC 2007
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Volatile feed costs prompt NWE phenol producers to review CP mechanism
London—Northwest European phenol producers were reported looking at moving away from a benzene-based price formula for their phenol monthly supply contract due to volatile feedstock costs, producers
Publication Date: DEC 2007
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BASF to hike Ludwigshafen oxos by 80,000mt, plasticizer 40,000mt
London—Germany's BASF is to raise production capacity at Ludwigshafen for higher oxo alcohols by 80,000 mt to a total of 390,000 mt/year, the company announced November 27.
Publication Date: NOV 2007
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European naphtha arbitrage to Asia opens first time since June
Singapore—The arbitrage of Europe naphtha to Asia opened for the first time November 23 after a five-month hiatus as gains in Asian naphtha outstripped gains in European
Publication Date: NOV 2007
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Far East Asia SM plant maintenance turnaround schedule 2008
Far East Asia SM plant maintenance turnaround schedule 2008
Publication Date: NOV 2007
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Iran's NPC exports 5.7 million mt of petchems since March
London—Iran's state-owned National Petrochemical Company exported 5.7 million mt of petrochemicals in the first eight months of the Iranian year, from March 21, official energy news source
Publication Date: NOV 2007
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Methanex secures 10% gas supplies for Chile unit from GeoPark
London—Major methanol producer Methanex Corp has signed a natural gas prepayment agreement with GeoPark Holdings, a Latin American oil and gas producer, for GeoPark to provide 10%
Publication Date: NOV 2007
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Mider-Helm's Leuna methanol plant close to capacity
London— Germany's Mider-Helm is expected to bring its 650,000 mt/year methanol plant at Leuna back to 100% production by the end of the week ending November 30,
Publication Date: NOV 2007
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NWE spot cracker margins hit negative territory on naphtha spike
London—European petrochemical cracker margins moved into negative territory on spot basis for the first time in 2007 this week, following a fresh record high reached in European
Publication Date: NOV 2007
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New Iran trade sanctions causing banking issues in petchem trade
Sydney—Global discussions on tougher trade sanctions against Iran have created some hurdles to petrochemical trade with the Middle Eastern state, industry sources in Asia said November 27.
Publication Date: NOV 2007
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New Middle East styrene capacity to shift trade patterns
Singapore, Houston, London—The copious new styrene monomer capacity from the Middle East will change global styrene market dynamics from 2008, global styrene industry players said.
Publication Date: NOV 2007
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New styrene capacities scheduled online in 2008
New styrene capacities scheduled online in 2008
Publication Date: NOV 2007
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Philippine PE plant to restart in 2008 under Iranian owner
Sydney— Philippine-based polyethylene maker NPC Alliance Corp plans to resume stable operations at Bataan early 2008 after fading from the scene nearly five years ago, a source
Publication Date: NOV 2007
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Russia's Gazprom, Dow Chemical may set up JV for petchems, gas
Moscow—Russia's Gazprom and US-based Dow Chemical Company may set up a joint venture for petrochemical facilities in Germany and gas processing in Russia, the companies said in
Publication Date: NOV 2007
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SABIC Innovative Plastics to stop ABS production at French site
Freiburg—SABIC Innovative Plastics is to stop ABS production at its Villers-Saint-Sepulcre plant in northern France, the company's communications manager told Platts November 27.
Publication Date: NOV 2007
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SocGen analysts see $106/b crude as danger zone for world demand
Singapore—Crude prices at $106/barrel and above, if sustained for a year, will likely erode world oil demand, top analysts at Societe Generale said November 23.
Publication Date: NOV 2007
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Southeast Asia SM plant maintenance turnaround schedule 2008
Southeast Asia SM plant maintenance turnaround schedule 2008
Publication Date: NOV 2007
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Turcas consortium to announce Petkim plans on December 10
Istanbul—The consortium of Turkish petroleum distributor Turcas, Azeri State oil company Socar and Saudi-based Injaz projects which on November 22 was given the approval to buy Turkey's
Publication Date: NOV 2007
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Asian polyethylene prices hit record high on bullish crude
Tokyo— Asian polyethylene prices hit record high levels on November 21 on strong spot demand and surging crude prices.
Publication Date: NOV 2007
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China PVC set to flip into surplus by 2010: Nexant
Buenos Aires—China would be a major competitor to Latin American PVC exports, Robert Bauman, vice president at Nexant Chemsystems told Platts, November 16. By 2010, PVC additions
Publication Date: NOV 2007
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Europe's petchems producers brace for margin falls as costs continue to rise
London—The recent run up in the price of crude, which has pushed prices in the entire petrochemical market to record levels, looked set to continue in the
Publication Date: NOV 2007
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Far East Asia PP spot prices hit 19-year high on tight supply
Tokyo—Spot prices for raffia injection grade polypropylene reached a 19-year high touching $1,407.50/mt, CFR Far East Asia, November 21 on supply tightness in Asia.
Publication Date: NOV 2007
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Georgia Gulf's Lake Charles fire has little impact on VCM market
Houston—A fire that broke out November 10, at US vinyls producer Georgia Gulf's vinyl chloride monomer facility at Lake Charles, Louisiana, had little impact on the VCM
Publication Date: NOV 2007
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Japan's October PVC exports up 10% on year at 74,383 mt: VEC
Tokyo—Japan's polyvinyl chloride exports in October rose 10% from a year earlier to 74,383 mt due to strong demand around the world, the latest data by the
Publication Date: NOV 2007
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Japan's PVC export
Japan's PVC export
Publication Date: NOV 2007
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Latin America still lags behind Asia despite 5% GDP growth: S&P
London—Despite a respectable GDP growth rate of 5% for 2007 in Latin America, many other emerging market countries have grown faster and modernized their economies at a
Publication Date: NOV 2007
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Latin petchems to become more LPG dominant after 2012, APLA told
Buenos Aires—Liquified petroleum gas will look increasingly attractive as a feedstock for petrochemicals producers in Latin America, as the region moved to becoming a net exporter of
Publication Date: NOV 2007
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Lower 2008 import duties ease ABS, PS Nov-Dec orders in China
Singapore—With import taxes set to be lower in 2008, Chinese buyers have reduced their orders of acrylonitrile-butadiene-styrene and polystyrene in November and December, market sources said November
Publication Date: NOV 2007
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NWE cracker margins plunge to lowest level
Publication Date: NOV 2007
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US' NACD chief discourages changes to Hazmat bill
Houston—In 2008, US chemical distributors will discourage any significant changes to the Hazardous Materials Transportation Security Reauthorization bill that requires shippers of hazardous materials to take certain
Publication Date: NOV 2007
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BASF acquires SABIC Innovative's shares in German PBT plastic JV
London—Germany's BASF has signed an agreement with SABIC Innovative Plastics on the acquisition of the latter's shares in the engineering plastics polybutylene terephthalate (PBT) joint venture, BASF
Publication Date: NOV 2007
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Borealis declares force majeure on LDPE supplies from Porvoo, Finland
London—Borealis declared a force majeure on low density polyethylene supplies out of its unit at Porvoo, Finland, November 5, a company source reported November 12.
Publication Date: NOV 2007
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Borealis ups Q3 net income by 116%; faces challenge of high costs
London—Austria-based polymer producer Borealis announced net profit after tax of Eur225 million ($330 million) for the third quarter of 2007, up 116% from Eur104 million versus the
Publication Date: NOV 2007
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Dow Chem cited for further environmental violations in Michigan
Sydney—US' Dow Chemical may be guilty of clean air and hazardous waste violations at its 1,900-acre petrochemicals complex in Midland, Michigan, and has been asked to supply
Publication Date: NOV 2007
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Dutch plastics pipe supplier Wavin reduces 2007 revenue outlook
Freiburg—The Netherlands-based plastics pipe supplier Wavin will not hit the forecast 10% growth in revenue in 2007, the company said in a trading update November 8. Instead,
Publication Date: NOV 2007
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EU chemical output up 2.7% in first seven months of 2007: Cefic
London—Chemical industry output (excluding pharmaceuticals) in the European Union increased by 2.7% in the first seven months of 2007 compared to the same period of 2006, according
Publication Date: NOV 2007
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Kuwait's MEGlobal yet to lift force majeure on Malaysian supply
Singapore—Kuwait's MEGlobal has yet to lift its force majeure on Malaysian monoethylene glycol term supplies, said a source close to the company November 12.
Publication Date: NOV 2007
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Polystyrene producer mulls new European benchmark styrene monomer contract
London—A major polystyrene producer is mulling setting up a new European styrene monomer contract following dissatisfaction with the existing process, sources at the company said November 9.
Publication Date: NOV 2007
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S Korean YNCC inks 2008 term naphtha contract, MOPJ minus $4.75/mt
Singapore—South Korea's Yeochon Naphtha Cracking Center has inked a term naphtha contract for open-spec supplies between January and December 2008 with 10 traders at a discount of
Publication Date: NOV 2007
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SK Chemicals plans to build 140,000 mt/year PET plant in East China
Singapore—South Korea's SK Chemicals has announced plans to establish a joint venture with SK Networks and China's Zhejiang Zhenbang Chemical Fibre Co. Ltd, to build a 140,000
Publication Date: NOV 2007
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SK Energy to ship 21kt benzene/toluene to US West Coast
Singapore—Korean petrochemicals heavyweight SK Energy, the biggest producer of toluene in Asia, is planning to ship a mammoth load of benzene and toluene to the US West
Publication Date: NOV 2007
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Saudi's SABIC expected to continue MEG production cuts in December
Singapore—Saudi Arabia's SABIC has not restored normal plant operations at its Al-Jubail monoethylene glycol sites, a source close to the company said November 9.
Publication Date: NOV 2007
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Taiwan's Formosa to build Vietnam nylon chip, fiber plants by 2009
Hong Kong—Taiwan's Formosa Chemicals and Fibre Corp plans to build nylon chip and fiber plants in Vietnam's southern province of Tongnai, slated to come online in 2009,
Publication Date: NOV 2007
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Turkish competition board agrees on Petkim sale to consortium
Istanbul—Turkey's competition board, the Rekabet Kurumu, announced November 9 that it was approving the sale of a controlling 51% block in state petrochemical producer Petkim to a
Publication Date: NOV 2007
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US' Sterling exits SM market after FTC approves Ineos Nova deal
Houston—The US Federal Trade Commission's Mergers and Acquisitions branch has approved Ineos Nova's acquisition of the styrene production from Sterling Chemicals' Texas City, Texas, 1.7 billion lbs/year
Publication Date: NOV 2007
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Asian methanol imports from Chile plunge on production cut
Tokyo—Asian methanol imports from Chile plunged on the back of a continuing production cut in the country, a look at statistics from several Asian countries showed.
Publication Date: NOV 2007
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Benzene term contracts for 2008 to contain FOB Korea, FOB SEA mix
Singapore--Southeast Asia discussions for 2008 benzene term contracts in started between producers, trader and buyers, with firm bids and offers expected to emerge next week, market participants
Publication Date: NOV 2007
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Brazil's Braskem posts $76 million in net earnings despite surging crude oil
Brazil's Braskem SA's third quarter net earnings to Real$132 million ($76 million), reverting a loss of Real$54 million ($31 million) in the third quarter of 2006, according
Publication Date: NOV 2007
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China's CNOOC shuts Hainan methanol plant after gas pipeline hit
Tokyo—China's CNOOC-Kingboard shut down its 600,000 mt/year methanol plant at the island of Hainan November 6, after it was cut off from natural gas supplies, a source
Publication Date: NOV 2007
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ExxonMobil expects Singapore petchem plant to start up in 2011
Singapore—ExxonMobil's second petrochemical project in Singapore's Jurong Island, comprised of a steam cracker and an integrated petrochemicals complex, will be its largest owned and operated petrochemical facility
Publication Date: NOV 2007
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Global Spot on Methanol Prices
Publication Date: NOV 2007
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Iran must expand ethylene pipes to support downstream: president
London—Iranian president Mahmoud Ahmadinejad said "ethylene lines would be rapidly laid at the four corners of Iran" at the official inauguration ceremony of Ghadir Petrochemical Complex in
Publication Date: NOV 2007
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Japan's Styrene Monomer Plant Maintenance Sschedule 2008
Japan's Styrene Monomer Plant Maintenance Sschedule 2008
Publication Date: NOV 2007
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Japan's total LDPE shipments for Jul-Sep fall 3% on year
Tokyo—Japan's total low-density polyethylene shipments dropped 3% from a year earlier to 433,904 mt for July-September as domestic demand remained weak, data from Ministry of Economy, Trade
Publication Date: NOV 2007
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NORTH ASIAN METHANOL IMPORTS
NORTH ASIAN METHANOL IMPORTS
Publication Date: NOV 2007
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Petrochemicals in NWE using butane as feedstock again
London—Petrochemical companies in Northwest Europe started to buy spot cargoes of butane to use as a feedstock, sources said November 2.
Publication Date: NOV 2007
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Sabic CEO plans GE Plastics expantion, integration with Asian, Mideast businesses
The face of the US polymer industry is changing, with Saudi Arabia's Sabic taking a significant position in the region following the acquisition of GE Plastics. Platts
Publication Date: NOV 2007
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Target looks to reduce use of PVC in its branded products
Houston—Target agreed to systematically reduce its use of polyvinyl chloride, according to a statement by the Center for Health, Environment and Justice.
Publication Date: NOV 2007
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US' DHS publishes chemicals list for chemical facility standards
Houston — On November 2 the Department of Homeland Security released Appendix A of the Chemical Facility Anti-Terrorism Standards, a critical element of its chemical security efforts.
Publication Date: NOV 2007
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Asian HDPE values hit record-high on bullish crude, naphtha
Tokyo—Asian polyethylene prices rose October 30 in response to surging crude oil and naphtha prices, with film-grade high density PE hitting a fresh record-high as the bullish
Publication Date: NOV 2007
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Belgium's Solvay to restructure fluor business, to cut 250 jobs
London—Belgium's Solvay will be reorganizing its fluor chemicals business by scaling down its activities in refrigerant gases and cutting employment by a total of around 250 jobs
Publication Date: NOV 2007
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Braskem CEO: 'Green' polyethylene plant to come on stream 2009
Rio de Janeiro—Sao Paulo-based Braskem, Latin America's largest petrochemicals company, October 29, said it plans to build a major polyethylene plant whose feedstock will be Brazilian sugarcane
Publication Date: NOV 2007
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Canada fines Bayer Group C$3.645 million for price fixing
Calgary—Canada's Competition Bureau said October 30 that the Bayer Group has pleaded guilty to price fixing conspiracies of chemicals that make artificial rubber and has been fined
Publication Date: NOV 2007
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European methanol hits record as Mider-Helm extends force majeure
London—European methanol prices hit a record high October 30 on tight global supplies as Mider-Helm extended its declaration of force majeure to November 9.
Publication Date: NOV 2007
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FOB Rdam methanol
Publication Date: NOV 2007
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Hong Kong court winds up petchems trading company Citichem
Sydney—The Hong Kong court has ordered local petrochemicals trading company Citichem International to wind up its business operations, granting a petition filed by its peer J&J Chemtrading
Publication Date: NOV 2007
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Indian PVC pipe makers blames weather for weak prices
Dusseldorf—The current monsoon season in India, with rains deluding the country every four days, has dampened domestic PVC demand, sources with a number of Indian pipe producing
Publication Date: NOV 2007
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Iran's IPCC not faced 'real obstacles' to trade from sanctions: MD
Dusseldorf—Iran Petrochemical Commercial Company had not yet faced any "real obstacles" to trade as the result of sanctions against the country, Managing Director Mohammed Ali Zarbani told
Publication Date: NOV 2007
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Japanese tanker reported carrying benzene hijacked off Somalia
Sydney—A Japanese-owned chemical tanker Golden Nori, reportedly carrying benzene, has been hijacked off the coast of northern Somalia October 28, according to officials and media reports.
Publication Date: NOV 2007
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October Pricescore
October Pricescore
Publication Date: NOV 2007
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| Platts Petrochemical Report |
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