Chemical News
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China: Factors Impacted on PP Market Prices Aug 05,2010
Followed by several month of fall, China polypropylene (PP) market rebounded over CNY10,500/tonne since in July. Distributors regained confidence, and expected an upturn market. However, the fast climbing prices were caused by re-sellers’ speculation, instead of stronger demand from end-users. Therefore, distributors believed the uptrend was unlike...>>>
BASF reaches agreement with Cognis Holding Luxembourg S.à r.l. to purchase Cognis Aug 05,2010
June 23, 2010 – Ludwigshafen, Germany – BASF SE has reached an agreement with Cognis Holding Luxembourg S.à r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences to acquire the specialty chemicals company Cognis for an equity purchase price of ?00 million. Including net financial debt and pension obligations, the enterprise val...>>>
China: Jiangsu Fullmark Chemicals' Ployols Monthly Sales Reaching Rmb 10 Million Aug 06,2010
Jiangsu Fullmark Chemicals recently introduced a new ployol product widely used in building industry, with its monthly sales amounting to Rmb 10 million. Established in 2001, Jiangsu Fullmark Chemicals Co., Ltd. is a joint venture of Mitsubishi Corporation and Jiangsu Fuli Chemicals Co., Ltd. It is a leading player with total capacity of aro...>>>
America: Air Products Increases Prices for Polyurethane Additives Aug 06,2010
LEHIGH VALLEY, Pa., Aug. 4 /PRNewswire-FirstCall/ -- Air Products (NYSE: APD) today announced that, effective September 1, 2010, or as contracts allow, it will increase prices in North America, South America and South Africa on select Dabco® amine catalysts by 5%. This price increase is necessary to offset key raw material cost increases...>>>
China: Yantai Wanhua to Announce Q2 Results on Aug 18 Aug 06,2010
Yantai Wanhua is to announce its Q2 results on Aug 18, according to the company's security department. Analysts estimated that seasonal demand and price-up would bring the company good results this quarter. In the first quarter of this year, the company reported sales income of Rmb 2.049 billion, up 69.1% year-on-year. Net profit incr...>>>
UK GAS: Prices stable as fluctuating flows cause uncertainty Aug 06,2010
UK gas prices were fairly stable in an uncertain market Thursday with the system short on gas due to fluctuating flow rates, traders said. The day-ahead contract was changing hands at around 44.10 pence/therm by 12:00 London time, 0.15 p/th below Wednesday's close, while within-day rebounded from around 43.40 p/th at open to 44.50 p/th by midd...>>>
Buzzard level in North Sea Forties blend back below 30%: BP Aug 06,2010
The amount of higher-sulfur Buzzard crude entering the North Sea Forties Pipeline System dropped 4 percentage points to 29% in the week ending August 1 from the week of July 19-25, FPS operator BP said Thursday. Because the Buzzard field inputs sour crude into the FPS, the more it makes up of the Forties blend, the more sour the overall q...>>>
Britain: BP oil spill's effects likely to linger for decades: NOAA chief Aug 06,2010
BP's oil spill in the Gulf of Mexico "will likely have considerable impacts for years and decades to come," Jane Lubchenco, administrator of the US National Oceanic and Atmospheric Administration said Wednesday at a White House briefing. The impact would not be as great as it could have been, she said, because much of the oil has been removed ...>>>
India's Reliance expands US shale gas presence with new deal Aug 06,2010
India's Reliance Industries Ltd. Thursday said that its subsidiary,Reliance Marcellus II, has signed an agreement to enter into a Marcellus Shale joint venture with US-based Carrizo Oil & Gas. Under the proposed transaction, RIL will acquire a 60% interest in Marcellus Shale acreage in central and northeast Pennsylvania that is currently ...>>>
China: PetroChina Jinzhou Petchem to consume 28% more crude oil in Aug with CDU maintenance complete Aug 06,2010
PetroChina Jinzhou Petrochemical lifted crude oil refining plan for August by 28% from the previous month to 500,000mt after the completion of maintenance for its 4.5-mil-mt/yr crude distillation unit, a refinery source said. As reported previously, Jinzhou Petrochemical started to revamp the above-mentioned CDU from mid-June, when the 1.2-mi...>>>
Qatar's Tasweeq tenders to offer 45,000mt per month of refrigerated LPG in Sep'10-Jun'11 Aug 06,2010
Qatar International Petroleum Marketing (Tasweeq) issued at tender Wednesday to offer 45,000mt per month of refrigerated LPG at a 75:25 ratio for delivery in September 2010-June 2011, traders said. Bids due Aug 9 local time with validity till 16:00 the following day. >>>
China: Shandong independent refineries run at 40% Thu, up 4 percentage points on week Aug 06,2010
Operation rates of independent refineries in Shandong Province averaged 40% Thursday, up 4 percentage points from one week ago, up 5 percentage points compared to a year earlier, a survey found. Many refineries increased crude runs in the past week, stimulated by rises in oil product prices, market sources denoted. As of Aug 5, a total of...>>>
China: Operation rate of Guangdong minor refineries drops 2 percentage points to 15% Aug 06,2010
Minor refineries in South China's Guangdong Province ran at 15% on average Thursday, down 2 percentage points from one week ago, 3 percentage points higher than a year earlier, a survey found. Foshan Ruifeng Refinery had to lower utilization rate because of feedstock shortage, leading to the fall. Five refineries were in operation at pres...>>>
China: Dalian Wepec sets Aug crude throughput target at normal level of 700,000mt Aug 06,2010
Dalian Wepec schedules to process 700,000mt of crude oil in August, with daily throughput at a normal level of 23,000mt, said a refinery source. As C1 reported earlier, Dalian Wepec had to cut daily crude oil throughput to 19,000mt (140 kbd) mid-July due to unstable crude oil supply caused by pipeline explosion and following embargo in Dalian ...>>>
China: CNOOC Huizhou refinery to slash LPG output over maintenance in late Aug Aug 06,2010
CNOOC Huizhou refinery plans to start 15-20 days of maintenance on a hydrogenation unit as from Aug 20, likely to slash its daily LPG output by about 39% or 400-500mt from 1,100-1,200mt, according to a source with the refinery. As Huizhou refinery tries to ensure supply for truck delivery, its will probably cut supply for barge delivery, a mar...>>>
China: Fuel oil supply from S. China refineries estimated down 8% in Aug Aug 06,2010
Refineries in South China are estimated to supply about 165,500mt of fuel oil in August, down 8% from the previous month, a survey found. This supply comprises 36,000mt of slurry, 57,000mt of bituminous feedstock, which is residue sold under the name of bitumen, 56,500mt of high-sulfur residue, 3,000mt of low-sulfur residue, 8,000mt of heavy c...>>>
Saudi Sipchem to build ethyl acetate/butyl acetate swing plant Aug 06,2010
Saudi International Petrochemical Co. or Sipchem plans to build a 100,000 mt/year ethyl acetate/butyl acetate swing plant at its complex in Jubail Industrial City, the company announced Wednesday. The plant was slated to be commissioned during 2013, and Sipchem has signed an agreement with France's Rhodia to build it. It also...>>>
US propylene inventories gain, close at 3.037 million barrels Aug 06,2010
US propylene inventories gained ground this week, lengthening by 151,000 barrels to close at 3.037 million barrels for the week ending July 30. The previous week inventory levels were at their lowest point since mid-April at 2.886 million barrels. Meanwhile in spot, prices were mostly stable on the week amid thin trade activity. Aug...>>>
China: Will Calcium Carbide Prices Rise on the Shutdown of Plants? Aug 06,2010
High feedstock costs and increasing electricity prices forced more shutdowns of small-scale calcium carbide plants. Distributors focused on whether the shutdowns would push up market prices or impact on the downstream PVC production. Presently, many small-scale calcium carbide plants were shut down or to be shut down in the major production ar...>>>
China's Spandex Capacities Jumped 40.56% in H1, 2010 Aug 09,2010
According to National Bureau of Statistics of China, domestic spandex capacity rose significantly by 40.56% in the first half of this year. Meanwhile, total capacity of domestic chemical fiber industry reached 14.4739 million tons, increasing by 13.43% over the same period of last year. In 2010, chemical fiber industry kept good mome...>>>
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