Chemical News
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Oil prices dip to US$81.34 a barrel on dispersion of tropical depression in the Gulf of Mexico Sep 25,2007
Oil prices fell Monday after a tropical depression in the Gulf of Mexico dispersed without causing damage to key oil and gas infrastructure. The tropical depression was feared to develop into a storm capable of damaging oil and gas installations in the Gulf of Mexico, but weakened over the weekend. Light, sweet crude for November delivery dipped to...>>>
Oil outfit profits on higher use of energy Sep 25,2007
BEIJING, Sept. 24 -- CITIC Resources Holdings Ltd, a unit of China's fourth-largest oil producer, reported yesterday that profit rose 14 percent in the first half as the nation's demand for energy and resources increased. Net income climbed to 138.3 million HK dollars (18 million U.S. dollars), or 2.83 Hong Kong cents a share, from 121.2 millio...>>>
Daikin to set up chlorofluorocarbon JV in China Aug 23,2007
Tokyo (Jiji Press) -- Japan's Daikin Industries plans to set up a joint venture in China with major French chemical maker Arkema to make chlorofluorocarbon, informed sources said Monday. The joint venture will build a plant near Nanjing, Jiangsu Province, starting as early as this autumn, the sources told Jiji Press. The plant will produce hydrochl...>>>
BPI breaks into the North American films market Aug 23,2007
21 August 2007 – British Polythene Industries (BPI) has broken into the North American market with the purchase of western Canadian manufacturer AT Films. The Edmonton, Alberta, producer of agricultural, greenhouse and construction films was sold for US$12m cash by parent Celanese Corporation, based in Dallas. Celanese remains owner of specia...>>>
Eastman Increases Plasticizers Prices on September 1 Aug 23,2007
KINGSPORT, Tenn., Aug. 21, 2007 - Eastman Chemical Company is increasing prices on the following products effective Sept. 1. These increases are due to elevated operating costs, particularly in raw materials, energy and freight. EASTMAN DOP, 168, 168CA, 425, DOA, DOA Kosher, DBP, TOTM plasticizers: List and off-list price increase of $US 0.03 /l...>>>
Eastman Increases Glycol Ethers and Glycol Ether Esters Prices on September 1 Aug 23,2007
KINGSPORT, Tenn., Aug. 21, 2007 - Eastman Chemical Company is increasing prices on the following products effective Sept. 1, or as contracts allow. These increases are due to elevated operating costs, particularly in raw materials, energy and freight. EASTMAN EB Solvent, All Grades: Off-list price increase of $US 0.03 /lb ($US 0.066/kg) in Nort...>>>
Formosa shuts ethylene plant after mechanical faults Aug 23,2007
Mechanical faults have forced Taiwan's Formosa Petrochemical Corp. to shut one of its three ethylene plants. The 700,000 tpa of ethylene plant is estimated to stay closed for about 10 days for repairs to the plant's compressor. The unplanned shutdown may boost prices of ethylene, that have already seen approximately 30% hike in prices since late Ju...>>>
BASF announces price increase for engineering plastics Aug 23,2007
Due to unprecedented and sustained higher costs in raw materials, energy and transportation, BASF will increase prices in its engineering plastics product line in North America, effective August 20, 2007, or as contracts allow, for all shipments. The specific increases for North America are as follows: " Ultramid® standard nylon resins*: $0.10...>>>
Indorama to boost Europe sales Aug 23,2007
Indorama Polymers Plc (IRP), Europe' eighth largest PET producer projects an increase in market share in Europe to at least 10% within the next two years. Indorama's current market share in Europe is pegged at 6%, but is estimated to dip to 5.7% next year, upon the expansion of capacity by market leader, Spain's La Seda, to 965,000 tpa from the cur...>>>
Indonesia cautions world crude oil price hike Sep 24,2007
JAKARTA, Sept. 22 (Xinhua) -- Indonesian Trade Minister Mari Elka Pangestu has said she would monitor the world crude oil price hike reaching 82 U.S. dollars per barrel as it would have a wide-ranging impact on export commodities and basic necessaries, the Antara news agency reported on Saturday. "What is more important to caution is about its ...>>>
US$4.5 bln petrochemical plant and LNG terminal at Goldboro to commence construction in 2008 Sep 24,2007
Keltic Petrochemicals Inc. and MapleLNG's US$4.5 bln petrochemical plant and LNG terminal at Goldboro plan to commence project construction in spring 2008 - after clearing more regulatory hurdles. The two principals have reported completion of approx US$2 million worth of additional engineering and environmental work, as per federal regulation ...>>>
USG natural gas shut-ins at 1.288 Bcf/d ahead of storm: MMS Sep 21,2007
Oil production shut-ins in the US Gulf of Mexico were 360,169 b/d on Thursday, the US Minerals Management Service reported. The agency also reported that about 1.288 Bcf/d of natural gas production had been shut it. Producers have begun to shut in production ahead of the path of a weather system expected to enter the region soon. The oil s...>>>
Oil hits new high above 83 dollars Sep 21,2007
NEW YORK, Sept. 20 (Xinhua) -- Crude futures closed above 83 dollars a barrel Thursday on the New York Mercantile Exchange, marking another record high for a benchmark contract. Crude oil for October delivery closed at 83.32 dollars a barrel, up 1.7 percent, or 1.39 dollars over the previous closing. Crude oil rose to a record 83.90 dollars...>>>
Chemical traffic on US railways rises 2.8% Aug 24,2007
TORONTO (ICIS news)--US chemical railcar traffic rose 2.8% in the week ended 18 August, compared with the same period in 2006, the Association of American Railroads (AAR) said on Thursday. The AAR did not cite reasons for the increase in chemicals shipments. However, analysts consider the rail shipment data to be a good early indicator of curre...>>>
US food recall seen as driver for biocides Sep 21,2007
US biocide companies such as Arch Chemicals could see business increase as a result of food recalls, the company said. Dole Food, the world's largest producer and marketer of fresh fruit, fresh vegetables and fresh-cut flowers recalled on Monday its Dole Hearts Delight packaged salad after discovering that a sample was contaminated with the bact...>>>
GE Plastics Ups Stakes in Japan JVs Aug 24,2007
GE Plastics says it has acquired full ownership of GE Plastics Japan, its joint venture with Mitsui Chemicals and Nagase & Co. Under the new ownership, GEPJ’s Chiba, Japan plant, which is located within Mitsui’s facility, will be closed. In a related move, GE Plastics has acquired Nagase’s stake in Gem PC--a venture between GE Plastics, Mitsui, and...>>>
Gold futures close lower after failed attempt at $675 Aug 24,2007
Gold futures closed slightly lower Thursday, reflecting weakness in the broader U.S. stock market after a failed attempt at reaching the $675-a-ounce level, as the dollar declined against European currencies and oil prices ended their losing streak.>>>
INEOS NOVA to shut US styrene plant production Sep 20,2007
HOUSTON (ICIS news)--A joint venture formed by NOVA Chemicals and INEOS plans to shut down styrene production at Sterling Chemicals' plant in Texas City, US, part of a larger plan to improve margins, a company executive said on Wednesday. "The entire industry has had a very tough time," said Jeffrey Lipton, NOVA chief executive. Earlier this ...>>>
Shaw awarded technology & engineering contract by Tianjin Dagu Aug 24,2007
The Shaw Group Inc. has been awarded a contract to provide technology and basic engineering for a 500,000 metric tpa ethylbenzene/styrene monomer (EB/SM) plant for Tianjin Dagu Chemical Industry Co. Ltd., to be located in Tianjin, China. The value of Shaw's technology and engineering contract is approximated at US$50 mln. Shaw will also provide pro...>>>
Sintex Industries plans to acquire European composites firm Aug 24,2007
Indian plastic and textiles maker Sintex Industries Ltd. plans to acquire a European composites firm by March 2008. The company, with which the deal is expected to be finalized, has sales of about US$30 million in Europe. Sintex has set aside Rs 1.1 bln to be funded through internal accruals for these acquisitions. Currently, Sintex has a prese...>>>
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