Chemical News
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Malaysian Tanjung Bin oil terminal plans to start operations in March Feb 28,2012
The ATT Tanjung Bin oil terminal, located in southern Malaysia, is planning a dry run of operations in the first week of March and start-up of fuel oil operations in the third week of the month, a spokesman for terminal owner VTTI said Monday. Middle distillates and light-end operations would then follow in the first week of April, he added. ...>>>
NW Europe propane swaps hit new highs on tight physical availability Feb 28,2012
Propane swaps basis CIF Northwest Europe have moved to new highs, Platts data shows, as surging crude and tighter availability of North Sea product in Europe has boosted prices. Early numbers heard from the market on Monday had the front-month propane swap up to $1,088/mt, despite a slide in the front-month ICE Brent futures contract, building o...>>>
BPA could increase risk of heart issues, says UK study Feb 27,2012
The researchers at the University of Exeter's Peninsula College of Medicine and Dentistry and the European Centre for the Environment and Human Health in association with the University of Cambridge, added that they "can't be certain that BPA itself is responsible". More research needed to determine whether the link is causal, they concluded. ...>>>
Saudi Arabia's Sadaf to cut March SM allocations to India: sources Feb 27,2012
The Saudi Petrochemical Company, or Sadaf, has notified its contract customers in India that it will reduce shipments of styrene monomer in March, market sources based in India said Friday. According to sources, the reduction could be as much as half. The reason for the reduced supply is not clear, but sources said Sadaf has not declared a force...>>>
Weaker NWE butadiene must be considered in contract price discussion: sources Feb 27,2012
The weakened state of the domestic market in butadiene must be taken into account during March contract price negotiations, sources in the Northwest European market said Friday. Contract discussions for the March CP have begun and are expected to be completed next week, but many sources have expressed fears that the likelihood of a significant i...>>>
Asian polyethylene offers to Brazil continue to increase Feb 27,2012
Asian polyethylene offers to Brazil climbed $20-$50/mt over last week, a Brazilian trader said Friday. "Due to the Carnival holiday in Brazil, the import market was totally slow this week," the trader said. "We heard Braskem announced a jump of Reals 250/mt in polyethylene offers for the domestic market which could help us have a healthy import...>>>
ASIA SPOT LNG: Platts April JKM moves up to $15.05/MMBtu Feb 27,2012
Platts April LNG Japan Korea Marker finished the Asian trading week higher at $15.05/MMBtu, on the back of higher demand from North Asian utilities to increase end-winter inventory levels, and recent deals concluded over the week. The April JKM started the week at $14.825/MMBtu February 20. This week, more offers for April cargoes were hear...>>>
BG launches review, mulls sale of 20% stake in Chile LNG terminal Feb 27,2012
UK-based gas group BG has launched a review process that could see it reduce its stake in the Quintero LNG terminal in central Chile to 20% from the current 40%, country manager Diego Hollweck said Friday. "Nothing is close to be closed yet and it is difficult at this stage when it may end -- that will depend on market interest," the executive s...>>>
Fuel retailers see isolated sales of high-ethanol blend for up to a decade Feb 27,2012
As fuel makers start registering their high-ethanol gasoline blends with US regulators, petroleum retailers say there are practical and legal barriers that could keep the fuel out of most markets for as long as a decade. The ethanol industry used this week's Renewable Fuels Association conference in Orlando, Florida, to applaud a recent US Envir...>>>
BP trial on Macondo spill delayed one week as settlement talks continue Feb 27,2012
The civil trial against BP over the Deepwater Horizon explosion and the resulting spill from the Macondo well has been delayed one week, according to a statement released late Sunday by BP. "BP and the Plaintiffs' Steering Committee confirmed that the US District Court has today adjourned the start of the Deepwater Horizon...trial by one week, unti...>>>
S Korea's SK to build $1.1 bil China petchems complex with Sinopec, BP Feb 24,2012
South Korea's SK Group, which owns the country's top oil refiner, has agreed to build a Won 1.2 trillion ($1.1 billion) petrochemicals complex in China jointly with China's state-owned Sinopec and BP, the company said Wednesday. SK, which signed a preliminary deal with Sinopec and BP Wednesday, said the complex will have the capacity to produce ...>>>
NWE acrylonitrile-butadiene-styrene, polystyrene exports loses market share to Asia in Turkey, N Africa Feb 24,2012
Northwest European acrylonitrile-butadiene-styrene and polystyrene products have lost ground in the Turkish, North African and even European markets this year due to significantly lower Asian prices, industry observers said Wednesday. Free delivered Northwest Europe ABS prices were assessed at Eur2,085/mt ($2,777/mt) on Wednesday -- $592/mt hig...>>>
Fluxys, Snam agree to buy Eni stakes in UK-Belgian gas Interconnector Feb 24,2012
Belgium's Fluxys and Italy's Snam have signed an agreement with Eni to jointly acquire its 16.4% stake in the UK-Belgium gas Interconnector and 51% stake in the Interconnector Zeebrugge terminal, Fluxys said Thursday. In a deal worth Eur150 million ($199.4 million), the Belgian and Italian gas companies would also acquire Eni's 10% stake in Hube...>>>
Doors are now open to enter this year's Plastics Industry Awards Feb 24,2012
This year's PIAs will be held on Friday, 28 September, in the plush surroundings of the London Hilton on Park Lane and like last year's event is expected to be a sell-out. The 2011 ceremony was hosted by TV presenter and comedian Dara O Briain and saw 800 people from across the plastics industry and their guests celebrating the best and brightes...>>>
UK oil imports exceed crude production for first time since 1978: DECC Feb 24,2012
The UK's imports of crude and natural gas liquids last year exceeded domestic crude production for the first time since 1978 after field declines and outages saw output drop over 17% on the year, UK government figures showed Thursday. Total imports of crude and NGL's widened by 6% to 50.99 million mt in 2011, while crude production shrank by 16....>>>
European gasoline reaches 9-month high on stronger crude oil Feb 24,2012
Northwest European gasoline barges reached a nine-month outright price high on Wednesday, despite a drop in gasoline crack spreads, as crude continued to surge, Platts data show. FOB Rotterdam Eurobob gasoline barges rose by $9.25/mt on the day to be assessed at $1,078.25/mt, while FOB Rotterdam 10 ppm gasoline barges gained $7.75/mt to be value...>>>
Driller Ensco sees more confidence in permits for US Gulf of Mexico Feb 24,2012
Operators are showing more confidence in their ability to navigate the new post-Macondo permitting rules in the US Gulf of Mexico, providing just one more sign of an upbeat global outlook for deepwater drilling in 2012, Ensco International CEO Dan Rabun said Thursday. Rabun offered his view during a conference call with analysts to discuss the d...>>>
China's Jan methanol imports slide 18% from Dec to 400,133 mt Feb 23,2012
China imported 400,133 mt of methanol in January, down 18.1% from December but up 1.9% year on year, according to data released Wednesday by Chinese customs. Iran remained China's top methanol supplier in January, delivering 165,544 mt or just under half of China's total imports for the month. In December, Iran supplied 162,913 mt of methanol to...>>>
ADM, Wilmar forge alliance on fertilizer, freight business Feb 23,2012
US agribusiness group Archer Daniels Midland Co said Wednesday it and Singapore's Wilmar International have forged a strategic partnership in global fertilizer and ocean freight businesses, and tropical oils refining in Europe. Under a memorandum of understanding, the pair agreed to collaborate on fertilizer purchasing and distribution, ADM said...>>>
Korean polyethylene offers to Peru continue to rise this week Feb 23,2012
Korean polyethylene offers to Peru have risen $20-30/mt over last week's levels, a Peruvian buyer said Wednesday. While the buyer said Asian offer prices have risen every week this month, they still remain competitive in the Peruvian market. Following the latest increase, Korean resin offers to Peru were heard at $1,610/mt CFR for HDPE film...>>>