Chemical News
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Norway's Statoil offers to join Gulf of Mexico response team Jul 30,2010
Norway's Statoil would like to join the group of oil companies committed to developing an initial $1 billion program to develop a rapid response system for deepwater well blowouts following the Gulf of Mexico oil spill, Statoil CEO Helge Lund told a press conference in Oslo Thursday. "I have been in touch with the companies--ExxonMobil...>>>
America: Caltex Australia CEO urges more state funding for biofuel sector Jul 30,2010
The government is not investing heavily enough in the development of biofuels, the CEO of Caltex Australia, the country's largest refiner, said Thursday. "Biofuels and other alternative fuels can be a significant part of Australia's future fuel mix but policymakers need to put in place the right measures to allow the potential of thes...>>>
UK gas production fell 14.3% on year in 2009: National Statistics Jul 30,2010
Gross natural gas production in the UK fell 14.3% in 2009, according to the Digest of UK Energy Statistics 2010, published Thursday by National Statistics. Gross natural gas production has fallen by 45% since its peak in 2000, and net imports of gas accounted for a third of gas input into the transmission system in 2009, according to ...>>>
North Sea butane prices strengthen on increased demand Jul 30,2010
Spot prices for delivered cargoes of North Sea butane have started to strengthen on the back of increased demand, according to industry sources. During the summer period North Sea butane is used as a petrochemical feedstock substitute for naphtha and also a feedstock for the production of alkylate and MTBE, which are components in the ...>>>
America: July US ethylene CPs could fall on lower spot, improved supply Jul 30,2010
July ethylene prices in the US could move lower as sources this week anticipated a possible 2-3 cents/lb drop in the July contract. Sources pointed to the gulf between current spot levels and the June contract as justification for a potential decrease. July spot offers were seen at 35 cents/lb MtB Equ against bids at 33 cents/lb MtB W...>>>
Korea: S. Korea's share in China's bitumen import mix shrinks to 67% in Jan-Jun 2010 Jul 30,2010
South Korea saw its share in China's bitumen import mix shrank to 67% in the first half of 2010, the data from General Administration of Customs (GAC) showed. It was the first time for the country to record a lower-than-70% share. Some of its market shares were snatched by Southeast Asian countries, the GAC data indicated. In South and Southwest C...>>>
China: FPCC cancels base oil exports to Mainland China in Jul-Aug on unit blast Jul 30,2010
Formosa Petrochemical Corporation (FPCC) canceled its base oil exports to Mainland China during end July to early August after a fire hit its refinery in Mailiao of Taiwan, a source with the refinery told C1. A hydrodesulfurizer of the refinery caught fire Sunday night, which forced the refinery to shut down all its refining units, including ...>>>
China: Operation rate of Guangdong minor refineries rise 3 percentage points to 17% Jul 30,2010
Minor refineries in South China's Guangdong Province ran at 17% on average Thursday, up 3 percentage points from one week ago, 4 percentage points higher than a year earlier, a survey found. Five refineries were in operation at present, with feedstock throughput totaling 5,750mt per day, up 1,000mt on week. The refineries were encouraged ...>>>
China: Shandong independent refineries run at 40% Thu, up 1 percentage point on week Jul 30,2010
Operation rates of independent refineries in Shandong Province edged up to 40% Thursday, up 1 percentage point from one week ago, down 3 percentage points compared to a year earlier, a survey found. Some refineries increased run rates on rises in prices of products from cokers, although negative refining margins of straight-run fuel oil worsen...>>>
China: PetroChina Jinxi Petchem to go into overall turnaround in Aug Jul 30,2010
PetroChina Jinxi Petrochemical is scheduled to overhaul all of its units from Aug 1, expected to be completed at the end of the month, according to a refinery source. PetroChina's 8-mil-mt/yr Daqing Refining & Chemical would go into overall turnaround at the same time, showed C1's record. Other refineries affiliated to PetroChina in North...>>>
China: South China's Jul fuel oil imports estimated to plunge 37% to 250,000-300,000mt Jul 30,2010
South China is estimated to import 250,000-300,000mt of fuel oil (excluding cutback bitumen) in July, sharply down 37% from C1's estimation of 437,000mt for June, slumping 56% compared to the same period last year, C1 estimated. Higher import costs on rises in crude futures damped South China-based importers' buying interests, market sources denot...>>>
Japan's JSP expands PP production Jul 30,2010
JSP Ltd., the manufacturer of the expanded polypropylene Apro material, is expanding in Asia with a new manufacturing site in Chennai, India, and additional production capacity at the JSP site in Guangdong, China.The expansion in China will bring Tokyo-based JSP’s total capacity in the country to 14,000 metric tons per year. JSP has two produ...>>>
China: Yinguang's 100kt/y TDI Facility to Undertake Maintenance Aug 02,2010
China's Gansu Yinguang Chemical planned to shut down its 100kt/y TDI facility from Aug 1 for annual maintenance, a company source said recently. The company had started maintenance work since middle June, by July 22, about 20% planned maintenance work had been finished. China North Chemical Industry’s 50kt/y TDI facility was not involved wit...>>>
German: Bayer Q2 Sales up 14.6% at ?.2bn Aug 02,2010
Business Financial Newswire - Bayer Group reports gains in sales and earnings in the second quarter of 2010. It said business at MaterialScience expanded strongly, with volumes returning to the pre-crisis level and sales at HealthCare improved slightly but business at CropScience was down year on year. Group sales rose by 14.6% to ?,179m...>>>
Poland: Zachem's TDI Facility Resumed Production Successfully on July 28th Aug 02,2010
Zachem's 75kt/y TDI facility, the only TDI facility in Poland, finally resumed production on July 28th after it failed to restart for the several times. The company said on July 20th that its TDI manufacturing facility located in Bydgoszcz, Poland failed to restart for the third time due to severe technical problem. The facility shut ...>>>
America: DuPont Q2 Sales Rise 26% to $8.6bn Aug 02,2010
DuPont has reported second-quarter consolidated net sales of $8.6 billion, 26 per cent higher than the prior year. The higher sales reflect 21 per cent higher volume, 5 per cent higher local selling prices, one per cent positive impact from currency exchange rates, and one per cent reduction from portfolio changes. All segments had double...>>>
China: Six more companies granted oil product wholesale licenses Aug 02,2010
Six more companies have been granted oil product wholesale licenses by the Ministry of Commerce of PRC (MOFCOM), according to a notification released by MOFCOM on Jul 23. These six companies are Jingzhou Branch of PetroChina Hubei, Xianning Branch of PetroChina Hubei, Wuxi Xishan Traffic Petrochemical, Guangdong Fuel Company, Shanxi Jinrong P...>>>
China: E. China's Jul fuel oil imports estimated to fall 22% to 420,000mt Aug 02,2010
East China is estimated to import 410,000-430,000mt of fuel oil in July, sharply down 117,000mt or 22% from the previous month, showed C1's estimation. Market sources ascribed the obvious drop to persistently weak demand from both bunker market and local refineries. Based on Thursday's US$455/mt of FOB Singapore prices of 180CST fuel oil, Eas...>>>
China: Retail prices of GB IV vehicle fuel yet to be fixed in Guangzhou Aug 02,2010
The Guangzhou municipal government has yet to receive approval from the National Development & Reform of Commission on retail prices of GB IV vehicle use gasoline and gasoil, which was scheduled to be popularized in the city from Aug 1, C1's survey found. Sinopec has get ready to offer GB IV gasoline and gasoil in all subsidiary petrol station...>>>
China: Sinopec Maoming Petchem sets Aug crude throughput target flat with historical high Aug 02,2010
Maoming Petrochemical plans to consume 1.2-mil mt of crude in August, steady on month and also the highest level in history, a refinery source said. The source ascribed the still high target to good crude refining margins and ethylene sales profits. Maoming Petrochemical, located in Maoming City of South China's Guangdong Province, has a ...>>>
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