Chemical News
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Los Angeles spot CARBOB up 20 cents to NYMEX plus 70 cents/gal: trade May 11,2012
Los Angeles spot CARBOB traded 20 cents higher early Thursday on refiner buying amid the lowest stock levels since 2008 and little sense of immediate relief, sources said. The California-specific gasoline grade for Los Angeles traded up to NYMEX June RBOB futures plus 70 cents/gal, compared with an assessment of plus 50 cents/gal Wednesday. San ...>>>
BASF Venture Capital invests $5 million in China Environment Fund IV May 11,2012
BASF Venture Capital GmbH has participated with $5 million in the China Environment Fund (CEF) IV, L.P. Other investors include key development financial institutions, renowned family offices, strategic multinational corporations, and Fortune 500 companies. The China Environment Fund is a series of four funds and managed by Tsing Capital. "Ch...>>>
Thailand's BST curtails supply, all activity after fire: source May 10,2012
Thailand's Bangkok Synthetics (BST) has halted feedstock supply, a source close to the company said Wednesday, in the wake of the weekend fire that killed 12 at its facility at Map Ta Phut, Rayong. In addition, the company's subsidiary BST Elastomers on Tuesday had declared force majeure on butadiene rubber and styrene-butadiene-rubber productio...>>>
NWE benzene set to stay firm as demand up and supply constrained May 10,2012
Northwest European benzene is likely to remain strong in the short term thanks to increased downstream demand and restrictions on supply, according to market sources Wednesday. While NWE benzene prices have dropped around $11.50/mt since the beginning of April, this is compared to a $78.25/mt fall in upstream naphtha. This has seen the naphtha-...>>>
Mexico's PP producer offers for domestic market down 5 cents/lb: source May 10,2012
Mexico's only polypropylene producer Indelpro dropped its offer to the domestic market by 5 cents/lb ($110/mt) this week, a company source said Wednesday. "Demand is very slow at the moment, and propylene contract prices were stable this month in Mexico for May. We are studying the international market to learn if we are going to have another fa...>>>
ConocoPhillips to all but halt new investment in US dry gas plays: CEO May 10,2012
ConocoPhillips will virtually cease capital spending on North American dry natural gas assets to focus on projects that offer higher returns, Chairman and CEO Ryan Lance said Wednesday. Speaking to reporters on the sidelines of the company's first shareholder meeting as a pure-play exploration and production company, Lance said that while US gas...>>>
NYMEX June gas contract settles 7.2 cents higher at $2.465/MMBtu May 10,2012
The NYMEX June natural gas futures contract settled 7.2 cents higher at $2.465/MMBtu because of technical buying and expectations for a below-average storage build, sources said. The contract has gained ground for three straight sessions, adding on a total of 18.6 cents, or 8.2%. "People are guessing that the storage report due out [Thursday]...>>>
US drilling chief promises western Gulf of Mexico lease sale before 2013 May 10,2012
The Obama administration Wednesday defended its timeline for rolling out its offshore drilling priorities for the next five years and reiterated plans to hold a western Gulf of Mexico lease sale in November or December. Tommy Beaudreau, director of the Interior Department's Bureau of Ocean Energy Management, responded to criticism from Republica...>>>
US regulator details military's objections to Virginia drilling May 10,2012
The chief US regulator for offshore energy, Tommy Beaudreau, Wednesday said he was working with the Department of Defense to resolve conflicts with the military so that parts of the Virginia Coast might someday be open to oil and natural gas exploration. The military has objected to exploration along 80% of the Virginia Coast, homebase to the Na...>>>
Baerlocher invites MP to get to grips with PVC May 10,2012
Invited to see the operation by Baerlocher UK managing director Andy Jones, Dobbin was treated to presentation about the business-which produces additives which find their way into PVC-and the reasons it makes a difference to the manufacture of a range of building and consumer products. He was then conducted on a tour of Baerlocher’s plant, whic...>>>
NASA takes a Peek at solar system's giant May 09,2012
Peek was chosen for two components of the Jovian Auroral Distributions Experiment aboard NASA’s Juno Space Probe. The Southwest Research Institute of San Antonio developed the Jade sensors for electrons and ions for the probe. Diversified Plastics of Minneapolis moulded the Peek components, said Diversified Vice President Annette Lund. “South...>>>
India changes stance on Iran; says needs to look beyond energy needs May 09,2012
Indian Foreign Minister S.M Krishna Tuesday said that while Iran is a key source of energy, India needs to look beyond the issue of its own energy needs when considering the country. Krishna's remarks mark a major shift in New Delhi's diplomatic stance on the Iran issue. Though Indian refiners have been cutting crude oil imports from Iran, the I...>>>
Traders slash ABS prices as butadiene, crude tumble: market sources May 09,2012
Asian acrylonitrile-butadiene-styrene prices are falling rapidly this week as traders and dealers -- the middle men between buyers and producers -- slash prices on the back of tumbling feedstock and crude oil prices, market sources said. Traders and dealers in Hong Kong -- a major trading hub for ABS in Asia -- have been heard offering at $1,940...>>>
Styron Europe raises PS, ABS prices for May by $45-65/mt on rising costs May 09,2012
Styron Europe has increased the prices of its polystyrene, acrylonitrile-butadiene-styrene and copolymer grade products for the month of May with immediate effect, the company announced on Monday. An increase of Eur50/mt ($65/mt) has been applied to Styron's general purpose and high impact polystyrene grades, while an increase of Eur35/mt ($45....>>>
Korean, Thai freight cost up $30/mt to Brazil, offers not attractive: trade May 09,2012
Polyethylene freight costs to Brazil from Thailand and South Korea went up $30/mt this week, making pricing from the two Asian countries not seem attractive, traders said Tuesday. "With a higher freight cost and the taxes to intern the product in Brazil, Thai and South Korean offers are not good at the moment," said a trader in Brazil. "If the ...>>>
APX-ENDEX adds new members to gas futures and spot markets May 09,2012
Energy exchange APX-ENDEX said Tuesday that Brainchild Capital Investments has joined its Power NL, TTF gas futures and spot markets as a member, increasing the TTF gas futures market membership to 55 and the TTF spot market to 41. The Anglo-Dutch company also said Deutsche Bank AG, which is already a member of the UK gas and power spot markets ...>>>
Asia equity funds to invest $468 mil in Sabine Pass LNG project May 09,2012
Two Asian investment funds will provide $500 million of the additional $2 billion Cheniere Energy needs to build the first two natural gas liquefaction trains at its Sabine Pass terminal in Louisiana, the company and the fund said Monday. Singapore's sovereign fund Temasek and RRJ Capital, a relatively new $2.3 billion Asian-focused fund based i...>>>
Shell links upsurge in oil theft in Nigeria to international syndicate May 09,2012
Shell said Tuesday its Nigerian unit's oil output is being affected by a combination of illegal refining in the Niger Delta and an upsurge in crude theft, possibly backed by an international syndicate. In briefing notes on its Nigerian operations in 2011, Shell said it recorded 237 cases of oil theft from its facilities compared with 187 in 2010...>>>
Asian producers likely to offer June PVC at lower or steady prices from May May 08,2012
Asian PVC producers are likely to offer their June-arrival cargoes at prices steady or lower from May amid decreasing feedstock costs and sluggish demand, market sources said Monday. "The demand is not picking up and [feedstock] ethylene price is falling very fast. No one will buy the cargoes if prices are not lowered," said a China-based source...>>>
EU watchdog opens consultation on use of DIDP, DINP in children's toys May 08,2012
The European Chemical Agency, which oversees the control of petrochemical substances in the EU, has confirmed an ongoing restriction on the use of plasticizers di-isononyl phthalate (DINP) and di-isodectyl phthalate (DIDP) in children's toys and opened a 12-week consultation into the substances. "Based on existing restrictions, these phthalates ...>>>