Chemical News
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China: Sinopec Gaoqiao's Exports Hike in H1, 2010 Aug 09,2010
Sinopec Gaoqiao’s total export volume in H1 touched the highest level in history, up by 46% over the last year. In 2009, the profits of its new polyether products occupied 50% of total profits, compared with 25% in 2004. The company always engaged itself in product innovation and market expansion. For now, there were some breakthrou...>>>
Huntsman Releases Second Quarter 2010 Results Aug 09,2010
IMPROVED DEMAND LEADS TO SECOND QUARTER EARNINGS OF: $116 MILLION IN NET INCOME AND $257 MILLION IN ADJUSTED EBITDA Second Quarter 2010 Highlights Revenues for the second quarter of 2010 were $2,343 million, an increase of 27% compared to $1,846 million for the same period in 2009 and an increase of 12% compared to $2,094 million for the fi...>>>
Stephen F Cooper Elected to LyondellBasell Board Aug 09,2010
LyondellBasell has elected Stephen F Cooper to the company’s supervisory board. Cooper is replacing Philip Kassin, who recently resigned. Cooper is co-founder of Zolfo Cooper, an interim management firm, and has also served as vice chairman and Metro-Goldwyn-Mayer. He was CEO of Krispy Kreme Doughnuts in 2005 and CEO of Enron between 2002 an...>>>
Russia: NWE biodiesel prices rise sharply on Russia's grain exports ban Aug 09,2010
Biodiesel prices in NWE rose sharply Thursday afternoon and continue to be supported Friday morning after feedstock prices rallied after Russia announced a temporary ban to grain exports. The ban, which covers wheat, barley, rye and corn as well as wheat and rye flour, led CBOT wheat prices to explode in the Chicago Board of Trade. ...>>>
Japan's Inpex acquires first upstream exploration asset in Peru Aug 09,2010
Japan's Inpex Corporation has taken a foothold in the Peruvian upstream sector through the acquisition of a 25% participating interest in Block 117 in the country's north, the exploration and production company said Friday. Inpex is already involved in a number of exploration, development and production projects in Latin American countrie...>>>
BP says Macondo static kill cementing completed Aug 09,2010
BP has completed the cementing phase of the static kill operation to close its blown-out Macondo well in the Gulf of Mexico, said Thursday. "BP today completed cementing operations at the MC252 well at 14:15 CDT, as part of the static kill procedure," the company said in a statement. "Monitoring of the well is underway in order to confi...>>>
Gunvor sets sights on expanding LNG presence in Europe, Asia Aug 09,2010
Geneva-based trading company Gunvor has purchased about 20 spot LNG cargoes, which it plans to deliver primarily into northwest Europe starting this winter, according to its head of LNG. "The aim is to link our LNG activities in the Atlantic Basin with our European gas and power positions in order to create an integrated, physical portfol...>>>
Environmentalists call for probe of diesel use in fracking fluid Aug 09,2010
A coalition of environmental organizations is calling on Congress and the US Environmental Protection Agency to investigate the alleged use by two oil field services companies of diesel fuel in their hydraulic fracturing fluids, in apparent violation of federal law. The coalition on Thursday sent letters asking the EPA and the House of r...>>>
BLM plans PRB coal sales in face of environmental opposition Aug 09,2010
The US Bureau of Land Management plans to go ahead with the sale of more than 350 million short tons of coal in the Wyoming Powder River Basin, despite objections and at least one planned lawsuit from environmental groups. The BLM will set a date for the lease sale at a later time, according to a notice to be published Friday in the Feder...>>>
Croatia's Dioki interested in Vinyls Italia investment: ministry Aug 09,2010
Croatian polymer producer Dioki may be interested in investing in Vinyls Italia, Italy's vice-secretary of economic development Stefano Saglia said in a note on the ministry website Friday. Dioki signaled its intention to "invest in the Italian chemical sector" in a meeting with the ministry Wednesday, the note said. Nobody was immediate...>>>
China: SHFE's fuel oil futures delivery stock rises 0.6% to 321,200mt Aug 09,2010
Fuel oil delivery stock for futures in nine appointed terminals of the Shanghai Futures Exchange was 321,200mt in total as of Aug 6, slightly up 4,200mt or 0.6% from one week ago, according to data released by SHFE. The volume accounted for 44.07% of the total storage capacity. Fuel oil delivery warrants inched higher 900mt to 153,300mt. The d...>>>
Brazilian butadiene contract prices raise 2.2% in August Aug 09,2010
August butadiene prices for the Brazilian domestic market were heard at $2,265/mt FOB, an increase of 2.2% over July, said a Braskem source. Generally, Brazilian butadiene contract prices follow the USGC movements. Butadiene demand in the Brazilian domestic market was falling during the last few months. "Ev...>>>
China: Sinopec Yanshan Petchem to send LPG southwards by container ships Aug 09,2010
Sinopec Yanshan Petrochemical has basically reached an agreement with the Dalian Inteh Chemical Logistics on shipping its LPG to southern China with containers, a senior with the latter company said. LPG from Yanshan Petrochemical would first be stored in containers before delivered by truck to Tianjin port in North China, where the LPG contai...>>>
Lack of buying interest still affecting coking coal spot prices Aug 09,2010
A still quiet steel market and lower-priced domestic coking coal are still severely limiting China's buying interest for seaborne coking coal, market sources said Friday. Platts adjusted its Australian mid-vol HCC export price down by $1/mt to $176/mt FOB Hay Point. The Chinese and Indian import prices also lost $1/mt to $190/mt CFR Nort...>>>
China: PetroChina Hohhot Petchem to refine 111,000mt of crude in Aug, steady on month Aug 09,2010
PetroChina Hohhot Petrochemical arranged to process 111,000mt of crude in August, flat with the previous month, said a refinery source. The refinery's 5-mil-mt/yr oil refining capacity expansion project has already been underway, expected to come on stream in 2012, the source revealed. As reported previously, Hohhot Petrochemical passed e...>>>
China: Taiwan's Nan Ya unable to restart MEG unit on feedstock shortage Aug 09,2010
Taiwan's Nan Ya Plastics is not able to restart its 350,000 mt/year No. 3 monoethylene glycol unit at Mailiao this week due to a continued shortage of ethylene feedstock, a company source said Friday. Nan Ya Plastics gets the ethylene for its plant from affiliate Formosa Petrochemicals. But a fire at Formosa's No. 1 steam cracker, whic...>>>
Shell aims to be No. 2 in 2011 Aug 10,2010
The Shell Company of Thailand expects its retail oil sales will increase by 14% next year, catapulting it to the second largest with a market share of 15%, according to Pissawan Achanapornkul, chairperson of the company. Of all types of fuel sold at 16 billion litres per year, Shell now ranks fourth, with a market share of 13%, after market le...>>>
China: Lecron Group Starts Construction of 15kt/y PU Project Aug 10,2010
Ground-breaking ceremony of Lecron Group’s new factory was held in Zhangdian District, Zibo, Shandong Province on August 6th. Meanwhile, the company started construction of its new 15kt/y polyurethane project the same day. Established 7 years ago，the company occupied 40% market share of China’s solar energy industry. Ma Jianwei, general mana...>>>
China: Shanxi Sanwei 75kt/y BDO Facility Starts up Aug 10,2010
It is known from Shanxi Sanwei Chemical that the company’s 75kt/y BDO facility has started up, but actual time when products will be yielded remains unclear. Besides the 75kt/y facility which makes BDO from maleic anhydride (MAH), the company still has two BDO facilities which use calcium carbide and acetylene as raw materials. >>>
Gulf Keystone gets Iraq Kurdistan government OK for PSC changes Aug 10,2010
The UK's Gulf Keystone said Monday Iraq's Kurdistan Regional Government and all other parties had approved and executed amendments to respective production sharing contracts giving it a 100% stake in Gulf Keystone Petroleum International effective August 1, 2010. GKPI was established as a 50:50 joint venture between Gulf Keystone and ETA...>>>
International Chemical Exhibition
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