Chemical News
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PetroChina to slash gasoline exports in Sep Sep 02,2011
PetroChina will export only five MR-sized cargoes of gasoline in September, down from nine such cargoes in August, said a trading source close to Chinaoil. PetroChina's gasoline exports for September are mainly restricted by limited export quota for the third quarter, after the company used a large share of the quota in July and August, said a s...>>>
Europe September benzene expected to soften Sep 01,2011
Softening demand for the forthcoming month is expected to lead to a decrease in the European benzene contract for September, sources said on Tuesday. Planned shutdowns in September and October in the downstream styrene market will keep buying interest for benzene subdued, most expect, following a slow albeit relatively solid August. The volatili...>>>
China's polymer imports rise in July Sep 01,2011
According to data from Chinese customs, China's polymer imports rose 15.8% month over month in July. Year over year, imports gained 0.9% in July. Homo-PP, PP copolymer and LDPE posted strong year over year gains, while imports of PVC and PS were down year over year in July. Homo-PP imports jumped 24% month over month in July to reach 331,000 t...>>>
Mitsubishi delays restart of PTA plant in India Sep 01,2011
An industry source based in Japan informed a polymerupdate team member that the restart of a PTA plant operated by Mitsubishi Chemicals in India has been delayed. The source said, "located at Haldia, India, the No.2 PTA plant has a production capacity of 800,000 mt/year. The plant was scheduled for a restart on August 26. However, the restart ha...>>>
Asian benzene rates down adjust Sep 01,2011
Prices of benzene declined in Asia on Monday. As demand trends softened in the region, downward pressure on spot prices was seen building. FOB Korea prices were assessed down at the USD 1130/mt levels with buying interest dull at these levels. A trader based in Malaysia when contacted said, “ there are holidays across the South East Asian reg...>>>
Brazil's gasoline imports to surge 5-10 times on ethanol cut: analysts Sep 01,2011
Brazil will need to import an extra 250-500 million liters of gasoline a month -- about five to ten times current import levels -- to meet domestic demand following a decision by the government to reduce the ethanol mix in gasoline, industry observers said Wednesday. The Ministry of Mines and Energy said Monday that the mix of ethanol in gasolin...>>>
Sinopec to encourage oil product production for seventh consecutive month in Sep Sep 01,2011
Sinopec is expected to continue to give rewards to subsidiary refineries producing more oil products than scheduled in September, according to refinery sources. The ex-refinery price of 90-Ron gasoline exceeding the production target will be 8,884/mt, up by Yuan 404/mt from that of planned gasoline; the price of excessive zero-pour-point gasoil ...>>>
LPG deep processing margins drop in Shandong on higher feedstock prices Sep 01,2011
LPG deep processing margins for plants equipped with aromatic units in Shandong Province declined as prices of feedstock climbed. Based on ex-refinery price of 93-Ron gasoline, the margins was Yuan 343/mt on average in theory Wednesday, down by Yuan 100/mt from one week ago, C1 estimated. Prices of aromatization feedstock climbed by Yuan 150/...>>>
Chimbusco Shenzhen starts supplying 500CST bonded bunker fuel oil Sep 01,2011
Chimbusco Shenzhen started to supply 500CST bunker fuel oil in the second half of 2011, C1 learned from a source with the company. This made Chimbusco Shenzhen the second company to supply such fuel in South China, after Brightoil. "We are optimistic about the potential demand for 500CST bonded bunker fuel oil in Shenzhen as quite a few large...>>>
European Chemicals Agency to add 20 chemicals to hazardous substance list Aug 31,2011
The European Chemicals Agency (ECHA) said it plans to add 20 chemicals in the so-called "substances of very high concern" (SVHC) list due to their potential hazardous impact on health and the environment. These chemicals will be subject to public consultations which will run until October 31. "There are already 53 substances on the candidate ...>>>
Ineos Styrenics targets Eur30/mt increase in September PS CPs Aug 31,2011
Ineos Styrenics said Tuesday it would seek a Eur30/mt ($43/mt) increase in polystyrene prices in Europe, effective September 1, to restore margins. Since the start of the second quarter, polystyrene net contract prices have fallen by Eur260/mt from Eur1,540/mt in March to Eur1,280/mt FD NWE in July, while styrene monomer contracts have fallen Eu...>>>
US Gulf Coast spot toluene demand set to increase: sources Aug 31,2011
It is an opportune time for toluene demand to increase as multiple indicators show toluene as an economically attractive purchase, sources said Tuesday. Specifically, toluene was assessed Monday at 375 cents/gal FOB USG, 1.91 cents/gal under the blend value, and the premium to regular unleaded 87 USG gasoline shrank almost 8 cents/gal from Frid...>>>
Chances for passage of California fracking bill slipping away Aug 31,2011
Proponents of a bill that would require disclosure of chemicals used in hydraulic fracturing fluid might run out of time to get the bill out of a California state Senate committee before the end of the legislature's session early next month. The bill (AB 591) passed the state Assembly in June but has been held up in the California Senate Appropr...>>>
Pennsylvania activists form alternative Marcellus Shale commission Aug 31,2011
Saying the Marcellus Shale Commission reporting to Pennsylvania's Republican Governor Tom Corbett heard too much from business and industry and not enough from the residents of communities affected by natural gas drilling, eight political and environmental groups from the state on Tuesday announced their own "Citizens Marcellus Shale Commission" th...>>>
Americas Petrogas, ExxonMobil to develop shale oil, gas in Argentina Aug 31,2011
Americas Petrogas Argentina and ExxonMobil Exploration Argentina have inked a deal to explore and produce oil and gas from Petrogas' Los Toldos blocks, comprising of 163,500 acres, Petrogas said in a statement Tuesday. The Los Toldos blocks are in the western region of the Neuquen Basin in Argentina and is in close proximity to recent shale oil...>>>
API ANALYSIS: Crude stocks build as imports surge, inputs drop Aug 31,2011
US crude stocks rose 5.128 million barrels as imports on the Atlantic and West coasts surged the week ending August 26, an analysis of the oil data released Tuesday by the American Petroleum Institute. Crude balances suggest there should have been a stock-draw of 1.617 million barrels. Analysts polled by Platts had projected a draw of 1.2 mi...>>>
PetroChina trims Sep naphtha ex-refinery price by 0.62% Aug 31,2011
PetroChina set September naphtha ex-refinery price for its subsidiary refineries at Yuan 6,322/mt, down by Yuan 39/mt from the previous month, according to a source with the oil oligarch. The major has changed its pricing system for naphtha since Sep 1 of 2005, by taking FOB Singapore Mean in the period starting from 26th of the previous month t...>>>
Sinopec to cut naphtha ex-refinery price by Yuan 150/mt in Sep Aug 31,2011
Sinopec plans to reduce naphtha ex-refinery price for its underlying refineries to Yuan 7,090/mt in September, down by Yuan 150/mt from one month ago, a source with the refiner told C1. Ex-refinery price of naphtha supplied to eastern chemical enterprises by Tahe Refinery will drop from Yuan 6,440/mt to Yuan 6,290/mt at the same time, added the sou...>>>
China's kerosene apparent consumption climbs 6.94% in Jan-Jul: NBS Aug 31,2011
China's kerosene apparent consumption added up to 10.03-mil mt in January-July 2011, up by 6.94% from a year ago, the data from the National Bureau of Statistics showed. The apparent consumption in July went up to 1.47-mil mt, up by 14.43% month on month, the data indicated. Kerosene apparent consumption rose as jet demand from aviation kept ...>>>
Japan facing rubber, polypropylene shortage on rising automobile output Aug 30,2011
Concerns over shortages of synthetic rubber and polypropylene are growing as major Japanese automakers are set to increase their production between October 2011 and March 2012, the Nikkei reported Monday. Japanese tire maker Bridgestone has notified automakers that orders for passenger car tires will likely exceed its domestic output capacity, ...>>>