Saudi Arabia's SABIC mulls new benzene plant in kingdom
Dusseldorf—Saudi Arabian petrochemicals producer SABIC is considering building a benzene plant in the kingdom as part of its strategy to increase aromatics production worldwide, vice president and
Publication Date: NOV 2007
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Shell's Singapore cracker, MEG, BD plants on track for 2009-2010
Sydney—Shell Chemicals' naphtha cracker, monoethylene glycol and butadiene plant projects in Singapore were on track to start up in 2009 or 2010, as planned, the company said
Publication Date: NOV 2007
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Sri Lankan polymer processors hit by HDPE specs change: source
Dusseldorf—The change in specifications for high density polyethylene film in Sri Lanka has hurt the domestic packaging market hard, a trading source based in Colombo said October
Publication Date: NOV 2007
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US collected, sold 1.3 billion PET bottles in 2006, up 9%: report
New York, London—US-based plastics associations, National Association for PET Container Resources (NAPCOR) and the Association of Postconsumer Plastic Recyclers (APR), reported that 1.27 billion lbs of PET
Publication Date: NOV 2007
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European chlor-alkali makers expect January 2008 cost push from EUETS
London—Chlor-alkali producers across Europe were expecting to see an immediate push on costs at the start of 2008 as the second phase of the EU Emissions Trading
Publication Date: OCT 2007
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FOB Korea toluene price overtakes US
Publication Date: OCT 2007
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Global slowdown could hit petchems in H2 2008: SABIC's Al-Mady
Dusseldorf—The global slowdown could hit the petrochemicals sector in the second half of 2008, Mohamed Al-Mady, vice president and CEO of Saudi Arabia's SABIC, said October 24.
Publication Date: OCT 2007
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Korean bull run turns global toluene market on its head
Singapore—Toluene prices in Korea surged in the past six weeks to become the highest in the world, Platts data showed October 18. This trend has left traders
Publication Date: OCT 2007
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M&As lead major shake-up in South Korean petrochemicals
Singapore—South Korea's petrochemicals industry faces a major shake-up as its manufacturers pushed for mergers and acquisitions as a way to tackle bigger Chinese rivals and brisk investment
Publication Date: OCT 2007
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Pemex in talks on new private-sector ethylene plant
Mexico City—Pemex was negotiating with the private sector for the construction of a new ethylene plant at Coatzacoalcos in the southern Gulf state of Veracruz, a senior
Publication Date: OCT 2007
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Pluspetrol to establish petrochemical industry in Peru
Lima—Argentina-owned Pluspetrol, which extracts and sells gas from Peru's Camisea fields, on October 25 will choose between six bidders vying for up to 150,000 Mcf/d of natural
Publication Date: OCT 2007
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SABIC reports Q3 net profit of $1.98 billion, up 37% from Q3 2006
London—Saudi major petrochemical producer SABIC reported a net profit of Riyals 7.4 billion ($1.98 billion) for the third quarter 2007, an increase of 37% from the Q3
Publication Date: OCT 2007
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Turkey's planned Ceyhan refinery may not get petchem plant: Turcas
Istanbul—Plans for a petrochemicals complex to be built alongside a planned refinery at the Turkish port of Ceyhan may be changed now that Turcas and Socar, the
Publication Date: OCT 2007
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UK's LGA calls on supermarkets to reduce excessive packaging
London—Britain will fail to meet its recycling targets unless supermarkets take urgent action to reduce excessive packaging, according to the UK's Local Government Association.
Publication Date: OCT 2007
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AMERICAS
• US petrochemical producer Equistar was heard to have puts its Mt Belvieu, Texas propylene customers on allocation, market sources said October 16. "There is an inability
Publication Date: OCT 2007
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ASIA
• South Korea's Kumho P&B Chemicals has shut its three-line phenol-acetone plant in Yeosu for scheduled maintenance, a company source said October 15. The plant's No. 1
Publication Date: OCT 2007
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Argentina petrochemical output for July (table)
Argentina petrochemical output for July (table)
Publication Date: OCT 2007
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Asian, European naphtha prices hit record high on crude spike
Singapore, London—Asian naphtha prices rocketed $25.50/mt to an all-time high of $764/mt CFR Japan on October 16, chiefly propelled by the surge in crude values. The last
Publication Date: OCT 2007
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Caustic soda stocks (mt)
Caustic soda stocks (mt)
Publication Date: OCT 2007
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Chlorine production, capacity utilization
Chlorine production, capacity utilization
Publication Date: OCT 2007
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Czech Unipetrol faces olefins cut after fire at Litvinov refinery
London—Supplies of olefins from Czech petrochemical company Unipetrol have been further cut following a fire which hit the hydrogen unit at Unipetrol's 110,000 barrels/d refinery at Litvinov,
Publication Date: OCT 2007
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EUROPE
• Basell's low density polyethylene unit at Fos, southern France, has been operating at reduced rates since week end October 12 because of problems with monomer feedstocks,
Publication Date: OCT 2007
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European petchem producers shun expensive LPG in favor of naphtha
London—High LPG prices in Northwest Europe, especially for butane, have made naphtha the preferred feedstock for petrochemical producers, trading sources said October 17.
Publication Date: OCT 2007
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Explosion hits Dow ethylene pipe at Port Arthur, Texas
London, Houston—An explosion hit Union Carbide/Dow Chemical's 6-inch ethylene pipeline at Port Arthur, Texas, Thursday, a company spokeswoman at Dow Chemical said.
Publication Date: OCT 2007
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India's Reliance to more than double PX capacity to 4.5 mil mt/yr
London—India's private-owned oil and petrochemicals giant Reliance Industries is expanding its paraxylene capacity at Jamnagar to 4.5 million mt/year from 1.9 million mt/year in two phases, its
Publication Date: OCT 2007
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Indonesia's TPPI declares force majeure on oil, petchem supplies
Singapore—Indonesia's Trans-Pacific Petrochemical Indotama has declared a force majeure on oil and petrochemical supplies from its complex at Tuban, East Java due to a technical glitch at
Publication Date: OCT 2007
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Kazakhstan plans petchem plant near Kashagan oil field: minister
Astana—Kazakhstan will construct a petrochemical complex in Karabatan, located on the coast of the Caspian Sea near the giant Kashagan oil field, Vice-minister of Energy and Natural
Publication Date: OCT 2007
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NWE September chlorine output down 8% on August, caustic stocks up
London—European chlorine production in September amounted to 853,986 tons, or 8.2% below the August figure of 903,194 tons, but 3% higher than in September 2006 (829,320 tons),
Publication Date: OCT 2007
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NYMEX, Brent crude reach all-time high on supply fears
New York—November crude futures on the New York Mercantile Exchange, October 16 settled $1.48 higher at a new record high of $87.61/barrel, after rallying as high as
Publication Date: OCT 2007
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Naphtha C&F Japan
Publication Date: OCT 2007
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Petroperu says looking to partner with Reliance on oil, petchems
Lima—Peruvian state oil company Petroperu and India's Reliance Industries have signed a memorandum of understanding to explore possible cooperation in exploration, extraction, refining and petrochemicals production activities
Publication Date: OCT 2007
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S Korea's Honam, Lotte Daesan to merge 2008-2009; KP put on hold
Sydney—South Korea's Lotte Group, which has expressed a desire to eventually merge its three local petrochemical affiliates, is likely to start by merging Honam Petrochemical and Lotte
Publication Date: OCT 2007
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Shell concludes bi-annual ethanol buy-tender for H1 2008
London—European ETBE producer Shell has awarded its six-monthly ethanol buy tender to unnamed counter-parties, a company trading source confirmed October 16. The Shell source refused to comment
Publication Date: OCT 2007
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Specialty chemicals companies to post positive results: Goldman
Houston—In spite of continued sluggishness in the US housing and automotive sectors, Goldman Sachs expected specialty chemicals companies to post positive results driven by demand strength from
Publication Date: OCT 2007
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Turkey cancels TCAPH bid for Petkim; awards to Turk-Azeri group
Istanbul—Turkey's Privatization Authority (OIB), October 16, announced that it was canceling the sale of a controlling 51% block in state petrochemical producer Petkim to winning bidder Trans
Publication Date: OCT 2007
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US propylene players to move away from monthly RGP CP mechanism
Houston—Participants in the US propylene contract market were moving away from the monthly contract pricing system for refinery grade propylene, market sources reported October 16.
Publication Date: OCT 2007
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AMERICAS
• ExxonMobil Chemical has formed a new specialty compounds and composites business to focus on engineered polyolefin compounds, the company announced October 8. The business portfolio includes
Publication Date: OCT 2007
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ASIA
• Japan's Sumitomo Chemical is on track to bring onstream two methyl methacrylate plants in Singapore in the first quarter of 2008, a source at its Singapore
Publication Date: OCT 2007
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Aromatics Thailand reviewed for upgrade on planned merger: Moody's
Sydney—Moody's Investors Service is reviewing the credit rating of Thailand's Aromatics Thailand Public Co. for possible upgrade, in response to the proposed merger between ATC and Rayong
Publication Date: OCT 2007
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BP outlines plan to streamline business, cut costs
London—BP set out, October 11, a widely anticipated plan to streamline the company's structure and middle management in a bid to improve its operational performance and reduce
Publication Date: OCT 2007
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BP sells interest in Korea's Samsung Petrochemical for $70 mil
London—BP has agreed to sell its 47.41% equity interest in the Samsung Petrochemical Co (SPC) to the Samsung Corporation and Ms Lee Boo-Jin for $70 million in
Publication Date: OCT 2007
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EUROPE
• The expansion of the steam cracker at BASF's Antwerp, Belgium site will likely be completed by mid-October, a company spokeswoman said October 4. An expansion from
Publication Date: OCT 2007
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Europe mulling chemical clusters to boost flagging investments
Berlin, Sydney—Europe's drive to put the region back on the chemical investment map has been a topic of discussion in the industry even as it looks at
Publication Date: OCT 2007
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European MEG buyers undecided after first Oct CP at Eur 1,108/mt FD
London—European monoethylene glycol buyers said they remained undecided, October 5, following the first Northwest European MEG October contract at Eur 1,108/mt FD, between BASF and Diolen earlier
Publication Date: OCT 2007
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Hungary approves law protecting MOL from hostile takeover
Budapest—Hungarian lawmakers approved on October 8, a law aimed at shielding national oil and gas firm MOL from a hostile takeover bid by Austria's largest power group,
Publication Date: OCT 2007
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India's ONGC Mangalore to develop 920,000 mt/year PTA unit
New Delhi—ONGC Mangalore Petrochemicals Ltd (OMPL) is seeking an Expression of Interest from companies for setting up 920,000 mt/year purified terephthalic acid and downstream units at Mangalore
Publication Date: OCT 2007
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Ineos Nova announces Montreal, Canada polystyrene plant closure
London, Houston—US-European styrenics joint venture Ineos Nova will close down its 120 million lb/year (55,000 mt/year) polystyrene plant at Montreal, Canada, by the end of 2007, the
Publication Date: OCT 2007
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Initial NWE Q4 methanol CP set at Eur 380/mt FOB Rdam up by Eur 162
London—The Northwest European methanol initial contract price has been settled October 10 at Eur 380/mt FOB Rotterdam between BP Germany and Ineos, both parties confirmed. The settlement
Publication Date: OCT 2007
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MEGlobal lists Asian Nov MEG CP at $1400/mt, up $50/mt
New York—MEGlobal has nominated its Asian monoethylene glycol contract price for November at $1,400/mt, CFR main Asian ports, $50/mt higher than October, according to a company announcement
Publication Date: OCT 2007
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NWE MTBE producers face tighter margins on methanol, light ends
London—Northwest European producers of MTBE will potentially see lower profit margins this quarter due to the settlement October 10, of the NWE methanol contract price at Eur
Publication Date: OCT 2007
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Petchem traders, shippers not keen on Europe-Asia Arctic route
Sydney—Recent media reports about a new international shipping route opening between northern Europe and northeast Asia because of ice melting in the Arctic Ocean, have not been
Publication Date: OCT 2007
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Taiwan's Nan Ya Oct MEG supplies tighten on two turnarounds
Singapore—Taiwan's Nan Ya Plastics' monoethylene glycol supplies were expected to tighten substantially in October as two out of its four MEG plants are slated for maintenance over
Publication Date: OCT 2007
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Thai TPC loses stake in Vietnam PVC company to Petronas
Sydney—Thai Plastic and Chemicals, which has tussled for months with Malaysia's Petronas over a 43% share in Vietnamese PVC company Phu My Plastics, has conceded defeat, a
Publication Date: OCT 2007
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Turkey's Calik given extension for refinery, petchems application
Istanbul—Turkey's energy regulator the Enerji Piyasas Dzenleme Kurumu (EPDK) has allowed Turkish oil company Calik Enerji and its partner IOC a three month extension to submit an
Publication Date: OCT 2007
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US spot MEG truck price jumps to 68 cents/lb FOB USG
New York—The US spot monoethylene glycol truck/rail price has jumped from the low-to-mid 60's cents/lb to 68 cents/lb ($1,499/mt) FOB USG, industry sources said October 5.
Publication Date: OCT 2007
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Argentina chemical output recovers after gas shortage: agency
Buenos Aires—Argentina's chemical production began recovering in August after a shortage of energy and strikes slammed the sector in the previous two months, the government's statistics department
Publication Date: OCT 2007
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China's HDPE imports, main countries - August 2007
China's HDPE imports, main countries - August 2007
Publication Date: OCT 2007
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China's Jan-Aug textile, garment exports up 19.5% to $112 billion
Sydney—Mainland China's textile and garment exports for the eight months to August 2007 rose 19.5% from a year earlier to $112 billion, while imports gained 4.4% to
Publication Date: OCT 2007
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China's LDPE imports, main countries - August 2007
China's LDPE imports, main countries - August 2007
Publication Date: OCT 2007
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China's LLDPE imports, main countries - August 2007
China's LLDPE imports, main countries - August 2007
Publication Date: OCT 2007
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Dow Europe opts for forward PE pricing to mitigate volatility
London—Dow Europe, the European arm of Dow Chemical, will move to a "forward pricing" for all its low density polyethylene, linear low density polyethylene and high density
Publication Date: OCT 2007
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EC imposes duties on PET from India
EC imposes duties on PET from India
Publication Date: OCT 2007
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European Commission reaffirms anti-dumping duty for Indian PET
London—The European Commission has reaffirmed the imposition of a definitive countervailing duty on imports of polyethylene terephthalate (PET) film originating from India in the European Community, in
Publication Date: OCT 2007
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Hungary fines Austria's OMV over failed MOL offer
Budapest—Austria's OMV has been fined Forint 25 million ($141,000) by the Hungarian Financial Supervisory Authority (PSZAF) over its declaration September 25 that it was ready to make
Publication Date: OCT 2007
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India's Reliance plans grass-roots ACN plant at Jamnagar
Berlin—Indian petrochemicals major, Reliance Industries planned to build a grassroots acrylonitrile plant at Jamnagar, Gujarat, sources familiar with the company said September 30. The plant would have
Publication Date: OCT 2007
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September Pricescore
September Pricescore
Publication Date: OCT 2007
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Sinopec to raise $6.65 billion from Chinese domestic bond market
Hong Kong—China's Sinopec Corp planned to raise Yuan 50 billion ($6.65 billion) in the domestic bond market to support the construction of several projects, the integrated oil
Publication Date: OCT 2007
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UK's Ineos completes ABS JV with Lanxess after EC approval
London—Ineos announced October 2 it established a joint venture with German chemicals group Lanxess, to take over the operation of the Lanxess' acrylonitrile butadiene styrene plastics business,
Publication Date: OCT 2007
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US' Sonoco acquires Caraustar's container, plastics assets
London—US packaging company Sonoco has completed the acquisition of the fiber containers and industrial plastic carriers assets of Caraustar Industries, Sonoco announced October 3. Terms of the
Publication Date: OCT 2007
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US' Texas Petrochemicals posts $15.2 million Q4 net income
Houston—The US' Texas Petrochemicals announced a fourth quarter net income of $15.2 million, or $0.85 per diluted share, compared to net income of $15.0 million, or $0.85
Publication Date: OCT 2007
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VAM consumers hit by outages, seek more suppliers: Dow
Berlin—Recent outages at several vinyl acetate monomer plants globally have caused consumers to reassess their supply strategy, said Antulio Borneo, global business director for VAM at Dow
Publication Date: OCT 2007
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Austrian OMV's pursuit of Hungary's MOL 'futile': Citigroup
London—Austrian OMV's attempt to take control of Hungarian oil and gas group MOL looked "increasingly futile" and likely to fail, James Neale, an analyst at US bank
Publication Date: SEP 2007
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China plans five JV cracker projects; identifies two partners
Shanghai—China planned to form several joint ventures with large petrochemical companies in an effort to construct five ethylene crackers — four with capacities of 1 million mt
Publication Date: SEP 2007
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China's caprolactam imports, main countries - August 2007
China's caprolactam imports, main countries - August 2007
Publication Date: SEP 2007
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China's new ethylene projects (mt/year)
China's new ethylene projects (mt/year):
Publication Date: SEP 2007
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China's planned ethylene crackers for 2015 and beyond
China's planned ethylene crackers for 2015 and beyond
Publication Date: SEP 2007
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China's styrene imports, main countries - August 2007
China's styrene imports, main countries - August 2007
Publication Date: SEP 2007
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Europe's chemical producers face increased demand-side risks: S&P
London—European chemical producers faced less certain demand following several years of good conditions, according to an article published September 24 by Standard & Poor's Ratings Services.
Publication Date: SEP 2007
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Germany's Lanxess announces restructuring, market repositioning
London—Germany's Lanxess announced September 24 it was positioning itself as a specialty chemicals group consisting of three business sectors, following the divestment of its Lustran Polymers business
Publication Date: SEP 2007
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High import offers, low domestic prices stifle US PET imports
New York—The US PET import market slowed to a trickle due to relatively high import offers compared to domestic prices, industry sources said September 24.
Publication Date: SEP 2007
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| Platts Petrochemical Report |
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