Press Releases

Plastics News | New Plastic

Latest international plastic news, information and facts on plastics, polymer news, trends and developments in plastics industry. Subscribe to receive latest developments about plastic products, plastics trends, news & plastic information

New Polypropylene is approximately 10% lighter, excellent in material coloring

A polypropylene (PP) material which is approximately 10% lighter than the current PP and excellent in material coloring, called the Suzuki Super Polypropylene (SSPP), has been introduced...

12-Jul-12

RIL holds roadshow in Singapore for $1.5 bln loan

Reliance Industries held the first leg of a road-show in Singapore to raise US$1.5 bln foreign loans to fund the expansion of its petrochemicals facility at Jamnagar. The second leg of t...

12-Jul-12

Petrofac awarded US$500 mln EPC contract in Saudi Arabia

Petrofac has won a US$500 mln EPC contract on Saudi Arabia’s Rabigh II petrochemicals expansion project, as per Reuters. Petro Rabigh, a joint venture between Saudi Aramco and Japan’s Sum...

12-Jul-12

Pennsylvania to provide financial aid to Braskem’s acquisition of idled Marcus Hook refinery

Pennsylvania will provide financial assistance for Braskem America's acquisition of parts of Sunoco Inc's idled Marcus Hook refinery, the state governor said, as per Reuters. The state wi...

12-Jul-12

Fresh Loans of Rs 150 crore from public sector banks for Haldia Petrochemicals

Haldia Petrochemicals (HPL) has managed to secure Rs 150 crore in fresh loans from public sector banks. The April-June quarter that was its worst quarter ever, as HPL suffered loss of Rs ...

12-Jul-12

Polyolefins bottom in Italy, upturn on the horizon

Following the sharp decreases of the monthly ethylene and propylene contracts in Europe, sellers conceded to sizeable price decreases in Italy’s PP and PE markets in the first week of Jul...

11-Jul-12

Petrofac wins $500 mln Saudi Aramco, Sumitomo deal

State oil giant Saudi Aramco and Japanese company Sumitomo Chemical have signed a contract for British group Petrofac to build two units for the Rabigh II petrochemical expansion project,...

11-Jul-12

Reliance skips naphtha exports for the first time in over 18 months

Reliance Industries has decided not to export spot naphtha in July for the first time in more than 18 months, as per Reuters. This will bring down India's overall naphtha exports by over ...

11-Jul-12

Further reduction in run rates at Asahi Kasei’s ACN plants

Asahi Kasei has announced a further price cut in operating rates at its 150,000 tpa acrylonitrile plant at Kawasaki to below 75%, from 80% previously over the weekend on poor margins, as ...

11-Jul-12

Eastman completes acquisition of Solutia

Eastman Chemical Company (has announced completion of its acquisition of Solutia Inc. The approximately US$4.8 bln acquisition supports Eastman’s growth strategy to increase revenues and ...

11-Jul-12

Naphtha prices drop on weaker crude, premiums spike to two month highs in Asia

Naphtha price in Asia extended losses to reach a 4 session low of US$816/ton on Tuesday on weaker Brent crude, but spot premiums in South Korea were at their highest in two months on firm...

11-Jul-12

Petrochemical prices continue 2Q declines on lower oil prices

Continuing the decline begun in early second quarter, prices in the US$3 trillion plus global petrochemicals market fell in June to an average of US$1104/mt for the month. June's average ...

11-Jul-12

Leak delays July-loading paraxylene contracts of ExxonMobil into H1-August at Singapore

Last week saw reduced production at ExxonMobil’s refining complex in Singapore. This led to a delay in loading of petrochemicals, as per Reuters. Exxon Mobil has delayed the loading dates...

11-Jul-12

Benzene and paraxylene rise in Asia despite weaker crude futures

Benzene rose by US$21/mt- 1.9% day on day to US$1144/mt FOB Korea on Tuesday, in line with surging US benzene n the back of supply tightness on Monday to US$1420/mt FOB USG, as per Platts...

11-Jul-12

Spot styrene prices climb in global markets

Last week, styrene costs surged in global spot markets with the most visible increases being observed in Europe, as per ChemOrbis. Styrene prices also gained noticeably in Asia before the...

10-Jul-12

Lyondell grants Spheripol technology licence for Sibur subsidiary’s 500,000 tpa PP plant

LyondellBasell announced that ZapSibNeftekhim L.L.C, a fully owned subsidiary of SIBUR, has selected the Spheripol process technology from LyondellBasell for a new 500 KT per year single-...

10-Jul-12

Aromatics prices in Asia dip

Asian benzene fell by US$21/mt from July 6 to close at US$1123/mt FOB Korea July 9, deflating a US$92/mt surge the previous week, as per Platts. September benzene in the US was assessed ...

10-Jul-12

Naphtha margins in Asia at 7 week high

Naphtha prices in Asia retreated on Monday to reach a two-session low of US$824.50/ton, but margins extended gains to hover around a seven-week high of US$81.70/ton premiums on firmer dem...

10-Jul-12

NWE Aug naphtha crack swap retreats after closing at two-month high

At the beginning of the week, CIF Northwest Europe (NEW) August naphtha crack swap slipped to around minus US$9/barrel, after posting a two-month high on Friday's close, as per Platts. A ...

10-Jul-12

Labour talks fail in Norway, hopes of easing monetary policy in China prop Brent to US$99

Brent crude climbed toward US$99 a barrel as failed labour talks in Norway fuelled concerns of a total output shutdown, while hopes China would ease monetary policy and improve fuel deman...

10-Jul-12