Chemical News
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Japan's Inpex considering stake sale for Ichthys LNG buyers Aug 11,2010
Japan's Inpex Corp is considering selling stakes in the upstream portion of its Ichthys project in Australia to prospective LNG buyers, a company official said Tuesday. The company has already received interest from some buyers in taking upstream stakes, the official said. But as yet the company has not decided on the extent of any sale,...>>>
US FERC monitors Florida gas market after prices spike Aug 11,2010
The US Federal Energy Regulatory Commission is monitoring the natural gas spot market at the Florida city-gates after prices shot up to $14/MMBtu last week at a time when generator demand was high and pipeline maintenance limited supplies, a FERC spokeswoman said. "Our staff is on it. I know there are a lot of extenuating circumstances wi...>>>
China's July coal exports up 12.1% on-year Aug 11,2010
China exported 1.39 million mt of coal in July, up 12.1% on a year earlier and 9.4% higher than in June, according to preliminary figures released by China Customs Tuesday. In January-July of 2010, China exported a total 11.53 million mt of coal,down 10.8% from the 12.92 million mt shipped out in January-July last year. China's...>>>
China: Shandong Huaxing Petchem to start operation of 6-mil-mt/yr CDU Nov Aug 11,2010
Shandong Huaxing Petrochemical plans to start operation of a 6-mil-mt/yr crude distillate unit and a 1.4-mil-mt/yr coker before the end of November, according to a source with the refinery. With this new CDU on line, Huaxing Petrochemical's topping capacity will hit 8.5-mil mt/yr and the refinery will replace Shandong Changyi Petrochemical as...>>>
China: Huaying Petchem starts construction of 10-mil-mt/yr fuel oil blending base Aug 11,2010
Huaying Petrochemical started building a 10-mil-mt/yr fuel oil blending center in Daya Bay in Huizhou City of South China’s Guangdong Province on Aug 9, boasting the largest one in China when completed in 2013, according to traders in Huizhou. The project would mainly comprise 1.03-mil-cu-m heavy oil tank farm, a 300,000-DWT oil jetty and two ...>>>
China: Sinopec to export from S. China 155,000mt of distillates in Aug, flat on month Aug 11,2010
Sinopec plans to export a combined 155,000mt of distillates produced by subsidiary refineries in South China in August, according to refinery sources. The exports comprise 80,000mt of gasoline and 75,000mt of gasoil, both flat with the previous month, the source revealed. In addition, Sinopec is scheduled to export 125,000mt of jet from the r...>>>
Demand for spot ARA propane remains weak Aug 11,2010
Demand for spot propane in the Antwerp-Rotterdam-Amsterdam area remains extremely weak, according to industry sources. FCA propane loaded on trucks and railcars and FOB propane loaded on barges is used in many parts of Northwest Europe as a heating and cooking fuel, with summer demand lower than winter demand as a result. Curren...>>>
Philippines' JG Summit to run PE plant until Sep on good margins Aug 11,2010
Philippines' JG Summit is expected to continue running its 200,000mt/year high-density polyethylene/linear low-density polyethylene swing plant in Batangas until September on the back of good production margins, a company source said Tuesday. The company is a non-integrated producer that buys ethylene feedstock on a spot basis. ...>>>
China's Jul crude oil imports fall 15% on month to 19-mil mt: GAC Aug 11,2010
US styrene offers for August were heard between 48 and 49 cents/lb on Monday, down slightly from last week as variable cost estimates were lower. One seller said any spot deal would have to be backed up with spot feedstock purchases. With spot benzene at 295 cents/gal for August and ethylene offered at 37 cents/lb, variable costs for sty...>>>
China's Jul crude oil imports fall 15% on month to 19-mil mt: GAC Aug 11,2010
China's crude oil imports in July fell to 19-mil mt, down 14.68% from the previous month, 3.21% lower than a year earlier, according to data from the General Administration of Customs.Market sources ascribed the on-month drop to less crude oil throughput of state-owned refiners Sinopec and PetroChina, both of which had refineries under ma...>>>
China: Shandong Hongye to Launch PU Resins Project in Late August Aug 12,2010
Shandong Hongye Chemical Industrial Group announced recently that its sole resin and PU resin project successfully finished commissioning in early August and was predicted to launch in the end of August. According to relevant person in the company, the project would consume 40 thousand tons adipic acid per year, almost 29% of the company’s ...>>>
China: Cangzhou Dahua Reported Sharp Growth in TDI Profit in H1, 2010 Aug 12,2010
Hebei Cangzhou Dahua Co. Ltd. reported first-half 2010 results last Thursday. Operating revenue was up by 36% year-on-year to Rmb 1191 million while net profit rose to Rmb 62.12 million, up by 16% compared with the same period last year, with earning per share of Rmb 0.24. In the first half of this year, production and sales volume of urea...>>>
Chemtura Reveals Plan to Finance Bankruptcy Exit Aug 12,2010
Chemtura Corp. plans to offer “$450 million in aggregate principal amount of unsecured senior notes due 2018,” the company said Aug. 9. The proposed offering is part of Chemtura’s exit financing package in line with its Chapter 11 plan of reorganization, if the plan is confirmed by the US bankruptcy court. A hearing is scheduled for Sept. 16....>>>
China: PetroChina Jinxi Petchem to refine 42% less crude oil in Aug Aug 12,2010
PetroChina Jinxi Petrochemical set crude oil throughput target for August at 290,000mt, slumping 42% from the previous month, a source with the refinery said. The refinery shut a 1.5-mil-mt/yr coker for 45-day maintenance on Aug 1, the source said. It plans to revamp a 3-mil-mt/yr crude distillate unit a 1-mil-mt/yr fluid catalytic cracke...>>>
China: PetroChina Daqing refinery cuts Aug crude oil throughput target by 53% on turnaround Aug 12,2010
PetroChina Daqing refinery plans to refine 290,000mt of crude oil in August, sharply down 53% from the previous month, according to a refinery source. The refinery would start overhauling all of its units from Aug 17, expected to last 45 days, the source revealed. Daqing refinery, located in Northeast China's Heilongjiang Province, has a topp...>>>
China: Guangdong minor refineries still plagued by deep refining losses Aug 12,2010
Minor refineries in South China's Guangdong Province still suffered from steeply negative refining margins on stable feedstock costs and product prices, a survey found. The margin was minus Yuan 216/mt on average in theory Wednesday, flat with one week ago, versus minus Yuan 288/mt a year earlier, it's estimated. Ex-terminal prices of hig...>>>
Australian oil industry acting on lessons of Montara spill: APPEA Aug 12,2010
Australia's oil and gas industry has undertaken comprehensive reviews of its practices and operations in response to last year's oil spill and rig fire at PTT Exploration and Production's Montara well in the Timor Sea, the head of the local upstream industry association said Wednesday. Applying the lessons learnt from the Montara incident...>>>
ExxonMobil says no plans to exit Qatar Ras Laffan petrochemical JV Aug 12,2010
ExxonMobil has denied media reports that said the major was exiting its joint venture petrochemical project with Qatar Petroleum at Ras Laffan in Qatar. "We signed a heads of agreement with Qatar Petroleum in January 2010 to progress the joint development of a world-scale petrochemical complex, and we continue to work with Qatar Petroleu...>>>
Asia PE producers sell Sep cargoes ahead of Northeast Asian holidays Aug 12,2010
Asian polyethylene producers are starting to offer cargoes earlier than usual in anticipation of a slowdown in demand end-September and early October when the Chinese market will be closed for two holidays, market sources said this week. Southeast Asian producers, in particular, have started to offer September cargoes to China. A major So...>>>
Dow Announces Polyolefin Elastomers Expansion Aug 12,2010
The Dow Chemical Company (Dow) announced today a technology breakthrough project that will increase polyolefin elastomers manufacturing capacity at its production facilities in Freeport, Texas, (U.S.A.) and Tarragona, Spain. The capacity expansions, in conjunction with SCG-Dow Group’s new world scale specialty elastomers plant in Thailand, which is...>>>
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