Top Chemical News from ChemNet.

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...>>>

Britain: BP says cost of Macondo oil spill disaster now tops $6 billion Aug 10,2010

The cost of the response to the Macondo oil spill disaster in the US Gulf of Mexico now totals about $6.1 billion, operator BP said in a statement Monday. The latest estimate includes the cost of the spill response, containment, relief well drilling, static kill and cementing, grants to the Gulf states, claims paid, and federal costs. ...>>>

China: CNOOC says new Bozhong 19-4 field to top 15,600 b/d within year Aug 10,2010

Chinese offshore producer CNOOC said Monday it had started crude production from its Bozhong 19-4 oil field in Bohai Bay, and that the field was expected to reach peak production of more than 15,600 b/d "within the year." CNOOC BZ 19-4 would be tied into the facilities of the nearby BZ 25-1/25-1s oil field 7 km away. Chevron h...>>>

UK GAS: Short system, low LNG support continues to add pressure Aug 10,2010

UK gas prices started the week in bullish mood Monday as the system remained uncomfortably short, with an insufficient amount on LNG available to support the low availability, traders said. The day-ahead contract was changing hands at around 43.60 pence/therm by 12:00 London time, 1.10 p/th above Friday's close, while within-day was up 0....>>>

Coal-to-gas switching won't affect near-term gas demand: Bentek Aug 10,2010

While the large-scale move to natural gas-fired generators from coal-fired ones in 2009 was an indicator of long-term power trends in the US,it will be some time before that change is visible in increased gas demand,Bentek said in a report Friday. Over the next six years, "the magnitude of switching seen [in 2009] is unlikely to return in...>>>

China Natural Gas says completes test run of LNG-powered ship Aug 10,2010

China Natural Gas completed the first test navigation of an LNG-powered ship in its waters, the company said Friday. The test marked the first time an LNG-powered ship has navigated in China's domestic waterways, demonstrating that LNG can be used both in cars and ships as a fuel. The test took place in Wuhan Tuesday, the compan...>>>