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Higher polypropylene prices in Europe PP lead to a flood of import offers

The level of polypropylene (PP) prices in Europe, that are currently higher than any other region in the world, has led to a flood of import offers. Sellers from other regions attempt to ...

25-Jun-10

Lummus Technology awarded licensing and engineering contract for Ning Bo Heyuan’s methanol-to-olefins recovery unit

Lummus Technology has been awarded a licensing and engineering contract by Chinese company Ning Bo Heyuan Chemical Company Ltd. provide services to Ning Bo’s DMTO methanol-to-olefins reco...

25-Jun-10

Foster Wheeler subsidiary awarded contracts by STRAS for planned grassroots refinery at Turkey

Foster Wheeler AG’s subsidiary has been awarded contracts by SOCAR & TURCAS Rafineri A.S. (STRAS) for its planned grassroots refinery to be built within the Petkim Petrokimya A.S. (PETKIM...

24-Jun-10

Tender for expansion of PetroRabigh to be floated by mid-2011

Sumitomo Chemical and Saudi Aramco are carrying out front-end engineering studies for expansion of their joint venture Rabigh Refining and Petrochemical Co (PetroRabigh). Results of the ...

24-Jun-10

EPC contract for Nghi Son refinery and petrochemical project to be inked

Kuwait Petroleum International (KPI) along with its Vietnamese and Japanese counterparts is set to sign an engineering, procurement and construction (EPC) contract for the jointly-owned N...

24-Jun-10

Royal DSM N.V. inaugurates Stanyl® ForTii™ Production Unit

Royal DSM N.V. has today inaugurated its new Stanyl® ForTii™ Production Unit, quadrupling production capacity for Stanyl ForTii in a bid to meet market demand used in mobile phones and ot...

24-Jun-10

Taiwan’s Far Eastern New Century Corp to develop recyclable and biodegradable materials

Taiwanese petrochemical and textile firm Far Eastern New Century Corp. plans to expand its green energy business by developing more recyclable and biodegradable materials. The company's 5...

24-Jun-10

Naphtha sales from KPI’s Sicilian refinery to be slashed in July

Kuwait Petroleum International (KPI) plans to slash naphtha exports from its refinery in Sicily. The subsidiary of Kuwait Petroleum Corp plans to sell one cargo of 26,000 metric ton napht...

24-Jun-10

Oil prices retreat to US$77

Crude oil futures for July delivery have fallen to US$77.2 on uninspiring data released by a report on US existing home sales, a rising dollar, and news of an increase in US commercial cr...

24-Jun-10

Petrochemical prices decline at a faster pace in May

Prices fell at a faster pace in the global petrochemicals market with the average daily price of Platts Global Petrochemical Index (PGPI) dropping 7.5% from US$1237/MT in April to US$1144...

24-Jun-10

Italian Polystyrene players agree on weak July outlook

Over the past week, Italy’s PS market was lackluster as buyers preferred to buy on a hand to mouth basis. As per Chemorbis, the main reason behind buyers’ cautious behavior was their conf...

23-Jun-10

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended June 21, 2010

CRUDE OIL Crude oil prices have risen to levels past US$77 in the week of June 21, 2010. Towards the end of the week, prices for July rose to...

23-Jun-10

Emmbi Polyarns acquires 25% stake in international marketing company Global Bag

Emmbi Polyarns Limited has announced acquiring a 25% stake in international marketing company - Global Bag, a Czech Republican company. The deal size has not been disclosed. Global Bag is...

23-Jun-10

Petrobras plans to invest US$5.1 bln in petrochemicals in 2010-14

Brazil's state owned energy firm Petrobras plans an investment outlay of US$5.1 bln in petrochemicals for the time period 2010-14. This indicates a fall in the outlay amount of US$5.6 bln...

23-Jun-10

Foreign firms bid for Vietnam's 200,000 bpd Nghi Son refinery

Companies from Japan, South Korea, Italy and the United States have bid to build the proposed 200,000 bpd Nghi Son refinery in Vietnam- the country’s largest. Petrovietnam is developing t...

23-Jun-10

Huntsman announces US$110 mln debt pre-payment

Huntsman Corporation has announced prepayment of a US$110 mln under its senior secured credit facilities. Commenting on the pre-payment, Kimo Esplin, EVP and CFO, stated, "The pre-paymen...

23-Jun-10

Assam to get investment from Gujarat based polymer processors

About six to seven plastic processing companies from Gujarat have decided to set up units at the upcoming Tinsukia Plastic Park in Assam for a total investment close to Rs 150 crore in re...

22-Jun-10

Flexibility of the yuan could mar competitiveness of petrochem makers in China

Petrochemical producers in China could become less competitive in global markets as the yuan strengthens. As per ICIS news, the country’s recent moves to enhance the yuan’s flexibility an...

22-Jun-10

Foster Wheeler awarded contract for 3 steam generators for ethylene plant

Foster Wheeler AG has been awarded a contract in China to design and build three steam generators for Sinopec Wuhan. The circulating fluidized-bed generators will be for Sinopec Wuhan’s c...

22-Jun-10

SK Energy to spin off petrochemical units to boost stagnating bottom line

SK Energy plans to spin off petrochemical divisions as independent subsidiaries in January 2011, to boost bottom line since revenue streams from conventional petrochemical markets show si...

22-Jun-10