Naphtha prices in Asia at a four-week high

Naphtha prices in Asia have peaked to a four-week high as strong fundamentals continue to boost sentiments. Demand for polymers continues to be strong in China and has kept crackers in As...

Crude oil prices on the rise on signs of economic recovery and cold weather

Crude oil futures rose to US$78 per barrel on the Nymex on encouraging signs of an economic recovery, a cold wave and unrest in Russia and Iran. Climbing by over 75% this year so far, cru...

Firm start for global polyolefin prices in 2010 with bullish feedstock costs

A firm start is expected for polyethylene in global markets amid persistently rising feedstock costs. Softer demand in Southeast Asia has been seen in the last few weeks of the year. This...

SABIC teams up with state fund for US$2.67 bln bond issues

Saudi state-controlled petrochemicals giant SABIC is opting for its first private bond placement to raise 10 bln riyals (US$2.67 bln) to boost its finances and fund expansion plans. Proce...

Bankruptcy Court approves Tronox's alternate plan to Huntsman proposal

Leading producer and marketer of titanium dioxide pigment- Tronox Incorporated has cancelled the auction in connection with its proposed sale of assets to Huntsman Corp. and, received an ...

Linde to build two olefin plants in Western Siberia

The Linde Group has won several key contracts for plant engineering and gas supply projects in Russia. Under the terms of these unrelated deals, Linde is building two olefin plants for tw...

Midddle Eastern and Indian polyolefin producers margins could erode in 2010

The massive petrochemicals capacities due onstream in 2010 in the Middle East are likely to lead to a supply glut, leading to erosion of margins for polyolefins players in the Middle East...

Chemtura to sell global PVC additives business to SK Capital

Chemtura Corporation, has entered into a definitive agreement with SK Capital Partners to acquire Chemtura's global PVC Additives business. SK Capital is a New York-based private equity f...

Plantic to set up manufacturing in USA in collaboration with National Starch LLC

Plantic Technologies Limited and National Starch LLC have announced a collaboration to establish a site for the manufacture of Plantic products in the USA. This covers the relocation of o...

Polyone acquires specialty healthcare engineered materials provider

PolyOne Corporation has acquired substantially all of the assets of specialty healthcare engineered materials provider New England Urethane, Inc. (NEU). The purchase price of US$12 mln in...

Sinopec completes construction of 1 mln tpa ethylene project at Zhenhai refinery

Sinopec has completed construction on an ethylene project at the Zhenhai refinery in Ningbo, Zhejiang Province. The project will have capacity to produce 1 million tpa of ethylene and has...

Thai PTT to complete plan to consolidate refining, petrochemical businesses by Q1-10

PTT PCL is on the verge of conclusion of a closely watched plan to consolidate its refining and petrochemical businesses by Q1-2010. Since November 2009, Thailand's top energy firm’s cons...

Improved outlook for polymers in Europe but run rates to remain low

Plants and production sites across Europe have been running significantly below capacity in a bid to cope with lower demand. Improvement in demand is anticipated in 2010, but utilisation ...

Polyethylene prices to have firm start in 2010 with bullish feedstock costs

Majority of market players anticipate a firm start for polyethylene in global markets amid persistently rising feedstock costs. Softer demand in Southeast Asia has been seen in the last...

Naphtha prices to remain strong in 2010

Demand from the Asian petrochemical sector remained strong with cracker operators running their plants at high rates amid improved margins for downstream polymers driven by strong demand ...

Schedule of naphtha cracker maintenance, shutdowns in Asia

Saudi Kayan inks preliminary agreement with Daelim for petrochemical plant in Jubail

Saudi Kayan Petrochemical Company has signed a letter of intent with South Korea's Daelim Industrial Company to build a petrochemical plant in Jubail. The plant will have the capacity to ...

Thai govt supports appeal to lift suspension of 19 projects in Rayong

In a bid to shake off the negative sentiment in the market, the Thai national government has supported the appeal to lift suspension on some of the 65 major projects in Mab Ta Phut, Rayon...

RIL raises cash component almost threefold for LyondellBasell acquisition offer

Reliance Industries Ltd has raised by three fold, its cash component for its acquisition offer for LyondellBasell. The cash component of RIL’s US$12 bln non-binding proposal for the acqui...

BPCL fetches premium higher than any Indian refiner in the year

Via tender, Bharat Petroleum Corp (BPCL) has fetched the highest premium by any Indian refiner this year, for a naphtha cargo for January lifting. The cargo was a 27,000 ton parcel for Ja...