Chemical News
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Bioplastics maker Metabolix narrows Q3 loss to $9.6 million Nov 02,2011
Bioplastics maker and sustainable energy company Metabolix on Tuesday reported a net loss of $9.6 million for the third quarter of 2011, a $400,000 improvement from the same time period last year. Metabolix's net cash used for operating activities during Q3 2011 was $7.8 million, up from $7.1 million for the comparable quarter in 2010. Unrest...>>>
Japan's post-quake LNG demand seen at extra 10-15 million mt/year Nov 02,2011
Japan's additional demand for LNG in the wake of this year's devastating March 11 earthquake and tsunami in the country's northeast, and the resultant shutdown of nuclear power generation capacity, is expected be around 10 million-15 million mt/year, delegates at the Australian Gas Conference in Sydney heard Tuesday. Over April-September, Japane...>>>
UK GAS: Bearish pull continues with warm weather Nov 02,2011
Prompt prices on the UK NBP gas trading hub continued to fall Tuesday morning on persistent warmer-than-average weather and strong stocks which reduced both domestic and Continental demand, while the curve fell with coal and oil prices. The within-day gas contract was trading at 58.70 pence/therm at midday Tuesday, down by 1.40 p/th from Monday'...>>>
China issues fresh warning regarding exploration in South China Sea Nov 02,2011
China has issued yet another warning to another oil company regarding oil and gas exploration activities in the disputed South China Sea -- this time directed at US oil major ExxonMobil. "Any foreign company shall not engage in oil and gas activities in waters under Chinese jurisdiction. This position is clear and consistent," Chinese foreign mi...>>>
Nebraska senator introduces bill for state siting of oil pipelines Nov 02,2011
Nebraska state Senator Annette Dubas on Tuesday introduced a bill giving oil pipeline siting authority to a state agency in what many read as an effort to change the current route of TransCanada's controversial Keystone XL oil pipeline project. TransCanada has said that about 112 miles of Keystone XL's current route will cross over the state's O...>>>
Future newly-increased petrochemical production capacity most concentrates in China Nov 01,2011
According to the data published by the experts from European Petrochemical Association and Petrobras in Downstream Asia 2011 today, at present the global petrochemical production capacity still keep a up trend, especially in East Asia and the Middle East. However, European petrochemical production capacity present a downward trend. The next five ye...>>>
Downstream Asia 2011 opens today and as the international partner ChemNet attends Nov 01,2011
Downstream Asia 2011 is the anchor oil & gas event at the Singapore International Energy Week - where over 350 and 15,000 attendees respectively are expected during this special week. At this year's Downstream Asia, the conference organizer has lined up over 40 expert speakers and case-studies to address these important issues. There will be de...>>>
Europe fixes a fifth ethylene cargo to Venezuela Nov 01,2011
Another ethylene cargo has been fixed to move from Europe to Venezuela, making it the fifth such fixture since September, sources said Monday. The cargo is for loading on November 20, from the Mediterranean, sources added. The price of the cargo, however, couldn't immediately be confirmed. Laggard demand from ethylene derivatives has resulted...>>>
Middle East could start tapping 'plentiful' shale gas resources: Partex Nov 01,2011
The Middle East may have big deposits of shale gas, the unconventional natural gas resource that has transformed North America's gas market, a senior officer of Partex Oil and Gas said Monday. The gas increasingly tapped from shale beds in North America and elsewhere occurs in rock formations that are considered the "source rocks" for convention...>>>
US crude oil stocks should increase 1.1 million barrels: analysts Nov 01,2011
Weekly oil data from the US Energy Information Administration and the American Petroleum Institute should show a 1.1 million barrel rise in US commercial crude inventories for the week ended October 28, analysts polled by Platts said Monday. API is scheduled to release its weekly data at 4:30 p.m. EDT (2030 GMT) Tuesday. EIA's weekly oil statist...>>>
S. China's fuel oil imports expected to fall 33% in Oct Nov 01,2011
South China is expected to import 130,000-140,000mt of fuel oil in October, down by 33% from September and down by 44% from the same period last year because of ample stocks, according to C1 estimation. All of the imports will be mixed/cracked fuel oil for the bonded bunker market, according to C1 shipping fixtures. Most bonded bunker traders...>>>
Saudi Aramco publishes Nov CPs for LPG Nov 01,2011
Saudi Aramco released on Monday its November contract prices (CPs) for LPG, with that for propane up by US$15/mt to US$750/mt and butane down by US$5/mt to US$810/mt, according to the company's announcement. Most traders said the November CPs were higher than expected. However, a trader said the rise in propane CP was reasonable because the d...>>>
Sinopec to continue pushing for higher oil product production in Nov Nov 01,2011
Sinopec is expected to continue to reward its subsidiary refiners for exceeding their oil product production targets in November to ensure its supply to the domestic market, a company source said. The ex-refinery price of 90-Ron gasoline produced above the target will be at Yuan 8,620/mt in November, up by Yuan 440/mt from that of gasoline produ...>>>
Weak Europe PE demand raises concerns for rest of 2011 Nov 01,2011
LONDON-Polyethylene (PE) demand in Europe is weak and while cutbacks are being implemented across the board most market sources see little chance of an upturn for the remainder of 2011, several said on Monday. A series of cutbacks at the cracker and polymer level has been in place for some weeks, but some sources are now questioning whether prod...>>>
The Singapore International Energy Week (SIEW) opens today Oct 31,2011
The Singapore International Energy Week (SIEW) is an annual week-long platform for energy professionals, policymakers and commentators to discuss and share best practices and solutions within the global energy space. The appetite for economic development and urban progress, coupled with climate change concerns and the development of more effici...>>>
US October phenol contract price falls 11% on cheaper benzene Oct 31,2011
HOUSTON-US October phenol contract prices fell by 11% on cheaper benzene and softening demand, sources said on Friday. The US October phenol contract settled at a drop of 9.23 cents/lb ($203/tonne, €142/tonne) at 73.08–77.53 cents/lb FRT EQ (freight equalised), as assessed by ICIS. The drop was based mostly on the 68 cent/gal fall in fee...>>>
Japan's JX plans to shut butadiene unit mid-Nov for maintenance Oct 31,2011
JX Nippon Oil & Energy plans to shut its butadiene extraction unit at Kawasaki, eastern Japan, in mid-November for scheduled maintenance, a source close to the company said Friday. Due to the turnaround, which will take about 10 days to complete, the company will not have any spot butadiene cargoes to offer in November. However, the naphtha-f...>>>
Shutdown of Polimeri Dunkirk PE plants not expected to impact supplies Oct 31,2011
The explosion at Polimeri's petrochemicals site in Dunkirk, France, which forced the shutdown of steam cracker operations and closure of its two polyethylene plants there, was not expected to greatly impact PE supplies, a company source said Friday. The explosion on October 21, the cause of which was still being investigated, led to flaring at t...>>>
Initial US propylene CP nomination calls for 4-cent/lb drop in Nov Oct 31,2011
US propylene contract prices for November were nominated at a 4-cent/lb discount by one major producer, market sources said this week. The nomination reiterated producers' stance that the price drop, while bound to happen, will be curtailed compared to October, when prices dropped 14 cents/lb. A second initial nomination was heard at down-3.5...>>>
Import LDPE prices losing their premium over HDPE in China Oct 31,2011
Steadily declining import LDPE film prices in the Chinese market have brought the premium for LDPE over HDPE film to its lowest level since the closing weeks of 2009. HDPE film prices have posted relatively smaller decreases than LDPE or LLDPE film prices over the past several weeks as HDPE supply has not been as loose as LDPE or LLDPE supply in t...>>>