Chemical News
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America: Stepan Reports Second Quarter and First Half Earnings Jul 29,2010
NORTHFIELD, Ill., /PRNewswire-FirstCall/ -- Stepan Company (NYSE: SCL) today reported second quarter and year-to-date r...>>>
America: Solutia Reports Second Quarter 2010 Results Jul 29,2010
ST. LOUIS, /PRNewswire-FirstCall/ -- Second Quarter Highlights -- Net sales of $518 million; an increase of 26% ...>>>
China: Global MEG Market Probably to See Surplus Capacities This Year Jul 29,2010
As the largest consumer of MEG in the world, China would digest out one-third of global MEG consumption in 2010. From 2008-2010, new 2.21 million t/y capacities mushroomed in China while 1.61 million t/y of which had passed the examination and approval. It is predicted that total capacities in China would reach 4 million tons or so while total dema...>>>
China: Laihe's 50kt/y Bio-based Polyols Facility to Put on Stream Soon Jul 29,2010
Songyuan Laihe’s 200kt/y straw bio-refining facility completed construction while its 50kt/y bio-based polyols facility would soon finish construction and put into operation. The company started the study of biomaterials in the application of new energy and new materials in 2007. Besides, it industrialized the research findings to the constr...>>>
China: Taiwan's FPCC tenders to buy 22,000mt of refrigerated LPG Jul 29,2010
Taiwan's Formosa Petrochemical Corporation issued a tender Wednesday to purchase 22,000mt of refrigerated LPG at a half-to-half ratio for Aug 16-31 delivery, traders said. Tender closes Jul 29, and will remain valid till the same day. >>>
China: Sinopec Shanghai Petchem to refine 6% more crude oil in Aug Jul 29,2010
Sinopec Shanghai Petrochemical is scheduled to process 900,000mt of crude oil in August, up 50,000mt or 6% from the previous month, according to a refinery source. The refinery is expected to complete provisional maintenance of 1-mil-mt/yr fluid catalytic cracker soon, which was shut on Jul 16, the source said. Shanghai Petrochemical set crud...>>>
China: Guangdong minor refineries report worse refining losses on low product prices Jul 29,2010
Refining margins for minor refineries in South China's Guangdong Province aggravated as prices of high-sulfur residue declined, C1's survey found. The margin was minus Yuan 92/mt on average in theory Wednesday, versus minus Yuan 68/mt one week ago and minus Yuan 434/mt a year earlier, C1's estimated. Ex-terminal prices of straight-run fuel oil, f...>>>
China: Commercial fuel oil stock in East China drops 5% to 380,000mt Jul 29,2010
Fuel oil inventories at major commercial tank farms of East China fell to 370,000-390,000mt in total up till Jul 28, down 20,000mt or 5% from one week ago, according to port sources. The volume accounted for 45.2% of the total fuel oil containing capacity of the tank farms. Aoshan Tank Farm in Zhoushan City recorded 250,000mt of fuel oil stock...>>>
China: Supply glut weighs on LPG prices in Shandong Jul 29,2010
LPG wholesale prices were pressured by excessive supply in Shandong Province, as availability was rising with some local refineries back into operation from mid-July, C1's survey found. LPG supply from Shandong independent refineries totaled 8,220mt a day on Jul 28, up 8.3% from Jul 15. However, the prices still accumulated rises of not m...>>>
China supplies 62% more jet to international flight in Jun: GAC Jul 29,2010
China supplied 342,858mt of jet to international flight in June, swelling 62% from the previous month, showed data from the General Administration of Customs. The volume occupied 56% of the country’s total jet exports for June, sharply up 18 percentage points on month. China exported 211,476mt of jet under processing trade in the month, d...>>>
Nigeria oil reserves down 4.8% due to lull in exploration: DPR Jul 29,2010
Nigeria's crude oil reserves stood at 31.81 billion barrels at the end of the second quarter, down 4.8% year on year due to the lull in exploration activities by oil companies operating in the country, the Department of Petroleum Resources said in a report released Wednesday. "During the period under review...oil reserves was at 31.81 ...>>>
Global air traffic rebound continues in Jun from 2009 lows: IATA Jul 29,2010
Global scheduled traffic figures for June continued to show strong demand growth as the industry recovers from the impact of the global financial crisis, the International Air Transport Association said Wednesday. International passenger demand in June was up 11.9% over 12 months, while international scheduled freight traffic showed a ...>>>
Qatar: RasGas supplies first Qatari LNG cargo to Brazil's Petrobras Jul 29,2010
RasGas Company Limited, or RasGas, a joint venture of Qatar Petroleum and ExxonMobil, Tuesday announced the sale of its first LNG cargo to Brazil's state-led oil company Petrobras in what it said was a significant move by Qatar, the world's biggest LNG exporter. "This is a significant moment for Qatar and for RasGas, as it marks the f...>>>
Spain: Endesa urges Spain to ditch domestic coal obligation Jul 29,2010
The Spanish government should abandon its current support for domestically produced coal as it seeks to come up with a new long-term framework for the electricity sector, Andrea Brentan, chief executive of Enel-owned utility Endesa, said Wednesday. The current Socialist government brought in legislation in February to support the use ...>>>
European ethanol production up 31% in 2009: eBio Jul 29,2010
European ethanol output in 2009 increased by 31% year on year to an estimated 3.7 billion liters, with France and Germany leading the way, European bioethanol fuel producers association eBio said Wednesday. According to data from the association, France produced 1.25 million liters of ethanol, an increase of 25% compared to 2008, while...>>>
China's Oriental Energy unable to re-export LPG on poor margins Jul 29,2010
Shenzhen-listed Oriental Energy, one of eastern China's major importers of LPG, has been unable to re-export imported LPG cargoes from its Ningbo bonded LPG terminal as Asian LPG prices have been on a downward trend since May, company sources said Wednesday. "We have been looking to re-export since our Ningbo LPG terminal was granted ...>>>
China to Promote Development of CDM Projects in AA Production Jul 30,2010
China’s National Development and Reform Commission reported that China’s climate had changed a lot in recent 100 years with its mean annual temperature up by 0.5～0.8℃. According to China's National Climate Change Program issued by the National Development and Reform Commission (NDRC), the country's first global warming policy initiative, the...>>>
China: Sinochem Taichang PTMEG Sales Increase 164% in First-Half of 2010 Jul 30,2010
With a 20,000 tonne/year polytetramethylene ether glycol (PTMEG) unit and a 20,000 tonne/year tetrafluoroethane (R-134a or HFC-134a) facility running at high load, Zhang Haibing, General Manager of Sinochem’s Taicang industrial park, who was supervising production safety on site revealed that sales revenue of the industrial park achieved Rmb 550 mi...>>>
Perstorp Reports Strong Second Quarter Jul 30,2010
Strong global recovery at the start of the year continued into the second quarter, with almost all markets and product segments reporting very favourable volume trends. Net sales rose by 19% to SEK 7,428 million (corresponding period last year SEK 6,268 m), despite negative currency effects of 12%. Volumes rose 21% and prices 10%, partly driv...>>>
China: Will MEK Trade Volumes Increase alongside Higher Prices? Jul 30,2010
MEK market was bearish early in July. Some MEK producers stopped production and held low inventories, so their offers were firm while users slowed purchasing, leading to stalemated transactions. Late last week/early this week, producers lifted producers and then traders and downstream users had to raise buy ideas, but few deals were reported yet. ...>>>
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