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TCG to approach High Court to challenge a bid by Indian Oil Corp for Haldia Petrochemicals

The Chatterjee Group (TCG) is set to approach the Calcutta high court this week, to challenge last month’s selection of Indian Oil Corp. Ltd (IOC) as the highest bidder for the West Benga...

06-Nov-13

NWE naphtha cracks strengthen as availability levels drop

Naphtha crack spreads in Northwest Europe strengthened for both balance-month and front-month supplies, as the market reacted to a more balanced picture from higher recent levels of avail...

06-Nov-13

Flexible packaging market estimated to grow at a CAGR of 5.1% from 2013 to 2018

Flexible Packaging Market is estimated to grow from US$73,825.3 mln in 2012 to US$99,621.9 mln by 2018 with a CAGR of 5.1% from 2013 to 2018, as per MarketsandMarkets. Asia-Pacific led th...

06-Nov-13

Supply surplus in USA impacts oil prices

Global oil prices varied on Tuesday, with New York crude being weighed down by a US stockpiles glut, and Brent crude rising marginally amid support from Libyan supply disruptions, as per ...

06-Nov-13

Asian and European Polystyrene markets retreat on lower costs, thin demand

PS prices are spiraling down both in the European and Asian markets. Lower upstream costs and thin buying interest pull down polymer prices in these regions. In Asia, spot styrene costs a...

06-Nov-13

European Commission adopts proposal that requires Member States to reduce use of lightweight plastic carrier bags

The European Commission has adopted a proposal that requires its 28 Member States to reduce their use of lightweight plastic carrier bags. However, the EC has not laid out rigid guideline...

06-Nov-13

Sinopec receives initial approval for US$10 bln Shanghai refinery

Sinopec Corp won initial approval last month from China's top economic planner for a plan to build a US$10 bln refinery and petrochemical complex in Shanghai, as per Reuters. Sinopec has ...

06-Nov-13

Sibur, Gazprom sign JV deal on petchem complex in Belogorsk

Russia's Sibur and Gazprom have signed a joint venture agreement on the construction of a gas processing plant and petrochemical complex in Belogorsk, in the Amur region in Russia's Far E...

06-Nov-13

Slow demand pulls down ABS prices in China, Italy

ABS markets started November on a softer note in China and in Italy, weighed down by sluggish demand and the softer upstream markets, as per ChemOrbis. Crude oil futures on the Nymex brok...

06-Nov-13

Reliance announces polymer price roll over with effect from November 1, 2013

Reliance Industries has announced polymer price rollover with effect from November 1, 2013, as follows: Rollover in prices of HDPE, LLDPE, LDPE, EVA & UHMHDPE PE Price Protection has al...

06-Nov-13

Automotive plastics market for passenger cars worth US$46,112 mln by 2018

The global automotive plastics revenue is expected to grow from US$21617 mln in 2012 to US$46,112 mln by 2018 at an estimated CAGR of 13.4% from 2013 to 2018, as per MarketsandMarkets. ...

01-Nov-13

Chevron Phillips finalises sale of polystyrene plant located in Zhangjiagang

Chevron Phillips Chemical Company LLC has finalized the sale to Grand Astor Limited of Chevron Phillips Chemical’s affiliate company Chevron Phillips Chemical (China) Co. Ltd., which owns...

01-Nov-13

Naphtha margin in Asia rose for a second day to a 7-1/2-month high

Supported by strong demand, naphtha margin in Asia rose for a second day to reach a 7-1/2-month high of US$130.78/ton, as per Reuters. Japan's Mitsui Chemicals was heard to have bought ...

01-Nov-13

Oil prices dip on no change by Fed Reserve in stimulus program

New York's main contract West Texas Intermediate (WTI) for December delivery slipped to US$96.5 in mid-morning Asian trade, and Brent North Sea crude for December fell to US$109.5.Oil pri...

01-Nov-13

Mexichem in ethylene JV with U.S. Occidental Chemical Corp in the United States

Mexichem has entered a joint venture with U.S. Occidental Chemical Corp (Oxychem) to build a US$1.5 bln ethylene plant in the United States, as per Reuters. The plant, which will be built...

01-Nov-13

Thermoformable PPSU foam for aircraft interiors insulative and structural component

The industry's first thermoformable polyphenylsulfone (PPSU) foam for insulative and structural components used in aircraft interiors has been introduced by Solvay Specialty Polymers. Rad...

01-Nov-13

Honeywell’s new manufacturing complex in Zhangjiagang to support growth of performance materials and technologies business

Honeywell plans to establish a new manufacturing campus in Zhangjiagang, China, to support growing demand in Asia for energy technology and advanced materials produced by its Performance ...

01-Nov-13

Chevron Phillips Chemical awards framework agreement to MRC Global subsidiary

Chevron Phillips Chemical Company LP has awarded McJunkin Red Man Corporation, a subsidiary of MRC Global, a framework agreement for the supply of pipes, valves and fittings (PVF) and val...

31-Oct-13

Major LyondellBasell expansion projects on target

LyondellBasell is working to cash in on the US shale gas advantage by working "cheaper and faster" than competitors, opting in most cases to focus on expansions and debottlenecking projec...

31-Oct-13

South Korea mulls FTA partnership with Malaysia

South Korea is considering a free trade agreement (FTA) partnership with Malaysia in a bid to strengthen bilateral relations, as per Bernama. Young-Moo Kim, Director General for FTA Negot...

31-Oct-13