Chemical News
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European reformate prices sag after arbitrage to China shuts Nov 22,2012
European reformate prices have dropped sharply as the Europe-China reformate arbitrage route has closed following a drop in domestic gasoline prices in China, sources said this week. Last week, the Chinese government decreased domestic gasoline prices by Yuan 310/mt, a Chinese trader said, leading to the closure of the Europe-China arbitrage rou...>>>
US says operator of exploded Gulf platform had history of violations Nov 22,2012
The operator of a Gulf of Mexico production platform that was the site of an explosion on November 16, which killed at least one crew member, had a history of safety violations, the top US offshore drilling regulator said Wednesday. The Bureau of Safety and Environmental Enforcement said Black Elk Energy Offshore Operators was cited for more tha...>>>
China 100 Spot Commodities Price Chart - 20/11/2012 Nov 21,2012
It was assessed by SunSirs that in the tracked 100 spot commodities,18 commodities increased in prices, 26 fell and 56 remained unchanged on 20/11/2012.The largest rises were Nickel (1.57%),Silver (1.43%),Acetone (1.17%),while the largest falls were Ac...>>>
World powers to meet in Brussels to map out Iran plans Nov 21,2012
The re-election of U.S. President Barack Obama this month has cleared the way for new talks and Western diplomats are eager to start soon as signs grow that Iran is still building up its nuclear capacity. But the window of opportunity for a negotiated solution is narrowing because of growing alarm over Tehran's nuclear course in Israel, which ha...>>>
India's ONGC seeks buyers for PX, benzene from new aromatics plant Nov 21,2012
India's ONGC Mangalore Petrochemicals Limited has issued tenders to sell paraxylene and benzene from its new aromatics plant, the company said Tuesday. The plant, which is under under construction at Mangalore and scheduled to come online in April-June 2013, is able to produce 900,000 mt/year of paraxylene and 270,000 mt/year of benzene, it add...>>>
Williams Canada to apply in early 2013 to build NGL, olefin facilities Nov 21,2012
Williams Energy will apply in early 2013 to Alberta's Energy Resources Conservation Board to build a natural gas liquids and olefins processing facilities in the province, even as it aims to add a new petrochemical value chain, the company's head of its Canadian operations said Tuesday. Three facilities are planned to tap the offgas produced fro...>>>
Coal stocks at China's key power plants total 93.71 mil mt end Oct: NDRC Nov 21,2012
Coal stocks at key power plants across China totaled 93.71 million mt at the end of October, National Development and Reform Commission data released Tuesday showed. It did not give a year-on-year comparison. The stocks will last for 29 days of consumption, up from 21 days a year ago, the NDRC said. Combined coal stocks at China's major coal ...>>>
Analyst consensus calls for US EIA to estimate 23-27 Bcf weekly gas storage draw Nov 21,2012
The US Energy Information Administration is expected on Wednesday to estimate a natural gas storage withdrawal of between 23 and 27 Bcf for the week that ended Friday, according to a Platts poll of analysts. The storage data will be released a day earlier than usual, at 12:00 p.m. EST Wednesday, due to the US federal government being closed on T...>>>
Investor Carl Icahn boosts Chesapeake Energy investment to nearly 9% Nov 21,2012
Investor Carl Icahn increased his investment stake in Chesapeake Energy to nearly 9%, according to documents filed Tuesday with the US Securities and Exchange Commission. Icahn, who has called for profound changes in the management of the Oklahoma City-based oil and natural gas producer, and several affiliated entities spent almost $1 billion to...>>>
US CFTC to extend swap reporting relief for new swap dealers Nov 21,2012
The US Commodity Futures Trading Commission on Tuesday set an April 10 compliance deadline for newly designated swap dealers and for reporting historical swap transactions. In a "no-action" letter the agency said any entity that expects to be designated a swap dealer under the Dodd-Frank Wall Street Reform and Consumer Protection Act must be in ...>>>
US refiner's group asks EPA to reconsider biodiesel volume mandate Nov 21,2012
US refiners Tuesday asked the Environmental Protection Agency to reconsider its earlier rule boosting the volume of biodiesel to be produced in 2013 as part of the Renewable Fuel Standard. In September, the EPA increased the target volume for biomass-based diesel fuel to 1.28 billion gallons from 1.0 billion gallons. The statute creating the RFS...>>>
U.S. ITC will review Apple, Samsung patent decision Nov 20,2012
An administrative law judge at the ITC had said in a preliminary ruling in September that Apple was innocent of violating the patents. The ITC, which could have opted to simply uphold the judge's decision, said that it would take up the matter. A final decision is expected in January. If Apple is found to infringe, its devices can be banned for ...>>>
West European third quarter olefins volumes down on year: APPE Nov 20,2012
Western European production of ethylene, propylene and butadiene in the third quarter of this year was down from the same period of 2011, data from the Association of Petrochemical Producers in Europe showed Monday. Ethylene, propylene and butadiene production in the quarter was 4.840 million mt, 3.634 million mt and 512,000 mt, respectively. Th...>>>
Mexican ethylene volumes receive lackluster response from NWE Nov 20,2012
Offers of ethylene export volumes from Mexico have drawn a lackluster response in Northwest Europe, which remains a low demand environment, according to sources. A second cargo from Mexico this month, involving around 4,000 mt, was heard offered in Europe for December arrival. The previous cargo offered into NWE, in mid-November for end-Novem...>>>
Australia's Carbon Energy, China's Shanxi Coal tie up for coal gasification project Nov 20,2012
China's Shanxi Coal Transportation and Sales Group and Australia's Carbon Energy and have signed a licensing agreement involving the development of an underground coal gasification project in Shanxi province, Carbon Energy said Monday in a statement. ASX-listed Carbon Energy said it will license its technology to Shanxi Coal for a fee of $7.5 mi...>>>
Ukraine to cut Russian gas imports to 26 Bcm in 2012, minister says Nov 20,2012
Ukraine will import 26 billion cubic meters of natural gas from Russia in 2012, less than the 27 billion cu m that was originally expected, because of high gas prices, according to Energy and Coal Industry Minister Yuriy Boyko. "This year, we will buy 26 Bcm of gas from Russia," Boyko said in an interview with Inter television broadcast over the...>>>
Norway's Statoil shuts in output at Snohvit LNG processing plant Nov 20,2012
Norway's Statoil said Monday it had shuttered production at its 4.3 million mt/year Hammerfest processing plant in the far north of the country, which processes the gas from the Snohvit field, due to technical problems. State-controlled Statoil said output at the plant was halted after a power failure just before 1230 GMT Monday. Statoil said...>>>
Prompt USAC ULSD barges, fuel oil cargoes dealing with supply backlog: trade Nov 20,2012
Prompt US Atlantic Coast ULSD barges and fuel oil cargoes are working through a supply backlog stemming from Hurricane Sandy, keeping the Atlantic Coast ULSD differential at a premium to the Buckeye Pipeline and the 3%S "up-down," which is the premium of Atlantic Coast 3%S residual fuel oil over Gulf Coast 3%S, strong. "Berths are tight," a ULSD...>>>
US crude stocks rose 1 million barrels last week: analysts Nov 20,2012
US commercial crude stocks are expected to show a 1 million barrel increase for the reporting week ended November 16, according to analysts polled Monday by Platts. The American Petroleum Institute releases its weekly report Tuesday at 4:30 p.m. EST (2130 GMT), while the US Energy Information Administration will release its weekly data Wednesday...>>>
Japan's Oct naphtha imports rise 5% from Sep as steam cracker turnarounds end Nov 19,2012
Japan's naphtha imports for ethylene production in October rose 5.3% month on month to 1.183 million mt, the Ministry of Economy, Trade and Industry said Friday. Ethylene output in Japan rose 1.5% month on month in October, following the completion of turnarounds at naphtha-fed steam crackers in the country. JX Nippon Oil & Energy restarted...>>>