ethylene
Feb 25th, 2010
Ethylene prices in USA continue to rise during February
US ethylene prices continued to rise during February. March Nymex cleared ethylene settling and expiring at US$0.54/lb. The contract, which began trading in July 2009, settled for February last month at US$0.4675/lb. Ethylene trades in 100,000 lb lots per contract on the NYMEX’s Clearport system. In the overall cash markets, March ethylene traded up from...
Dec 30th, 2009
Firm Start for Global Polyolefin Prices in 2010 with Bullish Feedstock Costs
A firm start is expected for polyethylene in global markets amid persistently rising feedstock costs. Softer demand in Southeast Asia has been seen in the last few weeks of the year. This is because of the impending implementation on January 1, of the ASEAN-6 free trade agreement, which will largely eliminate duties/tariffs on polymers. However,...
Dec 21st, 2009
AkzoNobel’s Ningbo Plant Starts Production
This week, production will start at AkzoNobel’s chelates facility located at the company’s new €275 million multi-site in Ningbo, China.
The start-up of the first activities in Ningbo means that AkzoNobel is now the only major producer of chelates with plants in Europe, North America and Asia. New ethylene amines and ethylene oxide factories are also...
Jul 20th, 2009
GAIL to Focus on Petrochem, Gas Network and Distribution for Future Growth
GAIL India has outlined natural gas (transmission), petrochemicals and city gas distribution (CGD) as focus areas of future growth, to achieve the revenue target of over Rs 50,000 crore by 2011-12.
On the petrochemicals front, GAIL India is expanding the capacity of its petrochemical plant at Pata in phases, from the initial 5,00,000 tpa to 8,00,000...
Jul 17th, 2009
June Petrochem Naphtha Imports in Japan Dip by 18%
Japan’s naphtha imports for the petrochemical sector fell 18 percent in June from the previous month as per the Ministry of Economy, Trade and Industry.
Imports of naphtha for ethylene production amounted to 960,823 tons (1,399,098 kilolitres) last month, compared with 1,169,478 tons (1,696,561 kl) in May. The average naphtha import cost in June rose to...
Jul 14th, 2009
Sipchem and Hanwha Chemical Sign Joint Venture Agreement for Polymers Projects
Saudi International Petrochemical Company (Sipchem) and Hanwha Chemical Corporation of South Korea announced that they have signed a Joint Venture Agreement today to establish a new petrochemical company in Al-Jubail Industrial City, Saudi Arabia that will be owned 75% by Sipchem and 25% by Hanwha Chemical. The new polymers venture comprises of a 200,000 metric...
Jul 9th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
Bleak unemployment figures from USA and Europe have sunk oil prices to US$66/barrel. Weak jobs figures suggest tepid consumption that will dampen crude demand. A Labor Department report indicated 467,000 jobs were lost in June - a larger than expected drop that has pushed up unemployment rate to 9.5% at 26 year highs. Unemployment...
Jul 8th, 2009
Japan’s Ethylene Output in June Dips by 3% as Compared to Last Year
Japanese ethylene production dipped 3% in June 2009 as compared to figures for June 2008. Data from government indicates declines for the third consecutive month restricted to single digit on increased demand and increased output. Last month, ethylene output totalled 555,400 tons, as compared with 572,600 tons in 2008 as per Ministry of Economy, Trade...
Jul 7th, 2009
Asahi Kasei Announces Dissolution of the Joint Venture Solotex Corporation
Asahi Kasei Fibers and Teijin Fibers will dissolve Solotex Corp., their joint venture for polytrimethylene terephthalate (PTT) fiber operations, at the end of March 2010.
PTT was commercialized as a molding material in the late 1990s. Asahi Kasei Fibers began development of PTT fiber in 1996, with production and sale beginning in 1999. Teijin Fibers began...
Jul 7th, 2009
BASF, Sinopec Get Govt Nod for Expansion
The Chinese central government has approved the Joint Feasibility Study Report submitted by BASF and SINOPEC for the expansion of their joint venture, BASF-YPC Co., Ltd. (BYC), in Nanjing, China, as of July 1, 2009.
BASF and Sinopec will jointly invest approximately $1.4 billion in state-of-the-art technologies to produce downstream specialty chemicals for the Chinese market,...
Jul 1st, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
For the second consecutive week, crude oil prices have finished in the red, settling below US$70 in the week of June 29, 2009. Light sweet crude oil for August delivery settled at US$69.1, down by over one dollar for the week amid rough trading. The Energy Information Administration data indicated a 3.8 mln barrel...
Jun 26th, 2009
Petrochemicals: Hike Import Duty on Polymers
Petrochemicals are chemicals manufactured from petroleum feed stocks.
Petrochemical manufacturing involves manufacture of building blocks by cracking or reforming operation; conversion of building blocks into intermediates such as fibre intermediates (Acrylonitrile, Caprolactam, Dimethyl Terephthalate/Purified Terephthalic Acid, Mono Ethylene Glycol); precursors (Styrene, Ethylene Dichloride, Vinyl Chloride Monomer, etc) and other chemical intermediates; production of synthetic fibres, plastics,...
Jun 24th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
Crude oil prices dipped by over a dollar to US$71 per barrel in the week of June 22, 2009. Weak fuel demand despite data indicating a recovery in the global economy has kept crude oil pegged at US$71 per barrel. This marks a stop to four consecutive weeks of oil price hike. The weakening...
Jun 24th, 2009
Japan’s JGC Awarded Contract for Feasibility Study for Petro Rabigh Complex
Japan’s JGC Corporation has been awarded a project to conduct a feasibility study for expansion of the refinery and chemicals complex in Rabigh by Saudi Aramco and Sumitomo Chemicals. The study for expansion of the US$10 bln (SAR 37.5 mln) Rabigh Refining and Petrochemical Company (Petro Rabigh) is to be concluded by Q3-2010. Investment outlay...
Jun 23rd, 2009
China’s Largest Integrated Oil Refinery and Petrochem Project to Come Onstream Q3-08
China’s largest integrated oil refinery and petrochemical projects at Dushanzi, including 10 mln ton crude oil refineries and 1 mln tons of ethylene will come onstream in a couple of months. When supply begins from Dushanzi, it will significantly increase market supply; particularly to lower reaches of the Northwest region. China National Petroleum Corporation started...
Jun 22nd, 2009
China Will Be the Principal Driver of Polyethylene Demand Till 2020
The Chinese polyethylene market size was US$$13,865 million in 2008 and is forecast to grow by more than 8%, accounting for nearly 17% of the global polyethylene demand in 2020 as per Global Markets Direct. China has emerged as the principal manufacturing and export location for low value plastic products in the world due to...
Jun 19th, 2009
CNOOC, Shell Petrochem to Expand Ethylene Capacity in Guangdong
CNOOC and Shell Petrochemical Co. have received approval to expand capacity at their 800,000 tpa ethylene project in Huizhou, Guangdong province. Capacity will be increased to 950,000 tpa by 2010, at an estimated outlay of US$100 mln.
Preliminary work on the project is currently under way.
Source: Plastemart
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Jun 19th, 2009
India Petrochemical Industry to Fare Better than Competitors
The Indian polyolefins market is expected to slow in Q2 ‘09 and Q3 ‘09 due to a decline in demand from industrial consumers, while some proposed projects have been thrown into doubt as financing difficulties and a deteriorating market environment have hit the petrochemicals industry, according to BMI’s latest India Petrochemicals Report.
The completion of Reliance...
Jun 17th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
In the week of June 15, 2009, crude oil prices have risen to new highs for the year to US$72.5, as compared to levels below US$35 in March. Interestingly, though oil prices have been rising for a month now, many analysts believe that the current oil valuation is not based on economic reality, but...
Jun 15th, 2009
Huntsman and Laffans Join Forces for Specialty Chemicals Manufacturing in India
Huntsman Corporation (USA) and Laffans Petrochemicals Ltd. (India) have signed a Letter of Intent to finalize a collaboration agreement to share know-how, expertise and resources for specialty chemicals. The parties intend to leverage each other’s capabilities and resources for surfactants and amines manufacturing in India. Laffans’ responsibilities would include manufacturing and raw material sourcing, while...