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Bayer mulls expansion of Shanghai polycarbonate plant by 50%

Bayer intends to significantly expand its capacities for the production of high-grade materials in China by 2016. Investments of around €1 billion are planned at the Shanghai site. This m...

16-Dec-10

Chemicals and plastics capacity in Oman to increase by 60% to 8.5 mln tons in 2012

Oman's chemicals and plastics capacity will increase by 60% to reach 8.5 mln tons in 2012 according to the organisers of ArabPlast 2011, the Middle East's No 1 trade show for rubber, plas...

16-Dec-10

Premium on PVC trading in Italy narrows as compared to global markets

Italy’s PVC market has been trading at a premium over other global markets including Turkey, Egypt and Southeast Asia for some time, as per Chemorbis. The price gap between Italy and thes...

16-Dec-10

Reduction in run rates at PE plants feared in Asia on negative HDPE margins

Negative production margins for film-grade high density polyethylene is fueling speculation about possible PE run cuts in Asia, as per Platts. On December 3, HDPE film production margins ...

16-Dec-10

Ineos initiates restart procedures at No. 2 olefins cracker at Chocolate Bayou

Ineos has initiated restart procedures at its No. 2 olefins cracker in Chocolate Bayou, Texas, according to a filing with the Texas Commission on Environmental Quality (TCEQ), as reported...

16-Dec-10

Sipchem board approves issue of SR1.5 bln Islamic bond (sukuk) to fund new ventures

Saudi International Petrochemical Co (Sipchem) plans a US$400 mln sukuk to raise a minimum of 1.5 billion riyals by the first quarter of 2011 to finance expansion. The issuance is expecte...

16-Dec-10

Sipchem affiliate awards EPC contract for EVA plant to South Korean company

Saudi International Petrochemical Company ((SipchemSipchem)’s affiliate the International Polymers Company has awarded the Engineering Design, Procurement and Construction (EPC) contract...

16-Dec-10

Injection molding accounts for the largest share of plastic processing machinery

Plastic injection molding machine/equipment accounts for the largest share in the total output of plastic processing machinery, at 40% in China and 50-80% in Germany, Japan and the USA -...

16-Dec-10

OPEC to keep output targets unchanged: oil prices rise

Organization of the Petroleum Exporting Countries has decided to maintain its production policy despite acute winters in the Northern Hemisphere. Demand for heating oil has surged, and oi...

15-Dec-10

Supporters and opponents of Kuokuang Petrochemical complex clash

Supporters and opponents of the plan to build Kuokuang Petrochemical Technology complex clashed in central Taiwan at a public hearing regarding the project held by the government. The pro...

15-Dec-10

Bullish outlook for January surfaces in Italy’s polymer markets

Italy’s polymer markets have started to witness pre-buying activities particularly for PP, PE and PS ahead of the approaching Christmas holidays, as per Chemorbis. As upstream markets str...

15-Dec-10

JG Summit sought fiscal incentives from the Board of Investments

JG Summit Olefins Corp. has sought fiscal incentives from the Board of Investments for its US$600 mln naphtha cracker project in Batangas. JG Summit Holdings Inc’s subsidiary has asked fo...

15-Dec-10

Asia naphtha price slips

Asia naphtha price slipped to a two-session low on Tuesday. Naphtha cracks extended losses to dip to their lowest in nearly three weeks on muted demand for February spot parcels as per Re...

15-Dec-10

Petrobras to acquire stake in Refap from Repsol to hike holdimg to 100%

Brazilian state-run energy giant Petroleo Brasileiro SA (Petrobras) is to acquire balance 30% stake in local refinery Refap from Repsol YPF SA for US$850 mln. Repsol had acquired 30% in 2...

15-Dec-10

PetroRabigh to conduct scheduled maintenance refining and petrochemicals complex in April

PetroRabigh plans to conduct scheduled maintenance work at its refining and petrochemicals complex in April. The 400,000 bpd refinery in Rabigh is planned to be shut for maintenance from ...

15-Dec-10

Sasol agrees to indirectly fixing polypropylene prices in South Africa, to pay US$16 mln fine

Sasol has agreed to pay 112 mln rand (US$16.4 mln) to settle an antitrust case after agreeing that it “indirectly” fixed polypropylene prices in South Africa. The penalty amount is 3% of ...

15-Dec-10

Lanxess to acquire DSM Elastomers for €310 mln on a cash and debt-free basis

Lanxess and Royal DSM N.V. have reached an agreement in principle involving the sale of DSM Elastomers to Lanxess for €310 million on a cash and debt-free basis. DSM Elastomers produces t...

15-Dec-10

475,000 tpa new production capacity of bisphenol-A to come online in 2011

The bisphenol-A (BPA) industry is expected to be more competitive in 2011 with addition of 475,000 tpa new capacity. As a result BPS prices will face downward pressure in Q1-2011 as per P...

15-Dec-10

LDPE, LLDPE prices moving down from mid-Nov highs in SEA

Prices for LDPE and LLDPE film have begun to lose some ground over the past few weeks in Asia as concerns about possible monetary tightening measures inside China have pressured sellers t...

14-Dec-10

Indorama Ventures to buy PET business of Polish SK Eurochem

Thailand holding company Indorama Ventures has agreed to buy the polyethylene terephthalate (PET) business of Polish SK Eurochem, part of South Korean SK Chemicals. Indorama has signed ag...

14-Dec-10