EC interests in public's view on reducing use of plastic carrier bags

(Plastemart) -- The European Commission (EC), through a newly launched public consultation, has invited the public to give their view on reducing use of plastic carrier bags, including an outright ban. Also under consideration is a levy/a tax on bags. Opinions will also be sought on increasing visibility of biodegradable packaging products, and boosting the biodegradability requirements for packaging, improving the way a bag is labelled to indicate how it will biodegrade. Public opinion will help the EC complement its scientific analyses, and drive policies on this issue. The web-based consultation is open until August 2011.

Taxes have been introduced and voluntary agreements reached with retail sector to phase out plastic bags, by individual countries. However, no specific measures exist at EU level.

MRC

(ICIS) -- Prices of methyl tertiary butyl ether (MTBE) in Asia may continue falling in the coming weeks, taking the cue from plunging prices in Europe, as demand in China for the octane booster declines, traders said on Friday. MTBE prices on a free on board (FOB) Singapore basis are expected to slip below USD 1.100/tonne (EUR 770/tonne) this week, traders said.

In the week ended 13 May, Asian MTBE prices were assessed at USD 1.140-1.160/tonne FOB Singapore, down about 5% week on week, according to ICIS.

In Europe, MTBE prices were quoted at USD 1.106-1.110/tonne FOB AR (Amsterdam-Rotterdam) on 19 May, compared with the ICIS-assessed price of USD 1.150-1.162/tonne FOB AR on 13 May.

European MTBE demand has waned because the reintroduction of 5% bioethanol blend (E5) gasoline had led to lower production of 98-octane gasoline in Germany.

MRC

(ICIS) -- Arkema is on schedule to lift its declaration of force majeure on polyvinyl chloride (PVC) supplies from its unit at Lavera, France, while LVM will shut down one PVC line at its unit in Beek, the Netherlands, at the end of June, company sources said on Friday. Arkema plans to resume production at its oxychlorination and vinyl chloride monomer (VCM) unit in Lavera, France, by the end of May, a company source said.

If there are no problems, the company should be in a position to lift its declaration of force majeure on PVC supplies from Lavera at the end of May or early June, the source added.

LVM, part of the Belgium-based Tessenderlo Group, plans to carry out maintenance at its 225 KTa unit in Beek, the Netherlands, which has four lines, a company source said.

One of the lines will be shut down for one week at the end of June, which is unlikely to have any significant impact, the source added.

MRC

(ICIS) -- The market can expect a rollover in the US June methanol contract unless crude prices drop significantly, buyers said on Thursday. The monthly contract range has been perched at 126-128 cents/gal for the past four months as energy prices have seesawed. Front-month natural gas futures have declined about 6% since early February, while crude futures have increased 7%.

Months of listless trading in the spot market have cooled the arguments of sources who often push for contract reductions based on energy prices. One buyer said a rollover was just a better bet right now.

Spot prices currently range from 107-108 cents/gal.

Methanex and Southern Chemical Company (SCC) historically have set the monthly North American contract methanol range with their nominations.

MRC

(BP) -- BP has reached agreement with MOEX Offshore 2007 LLC (⌠MOEX) and its affiliates, Mitsui Oil Exploration Co., Ltd. and MOEX USA Corporation to settle all claims between the companies related to the Deepwater Horizon accident.

MOEX - which had a ten per cent interest in the Macondo well - has joined BP in recognising and acknowledging the findings by the Presidential Commission that the accident was the result of a number of separate risk factors, oversights and outright mistakes by multiple parties and a number of causes.

Like BP, MOEX Offshore has also recognised and acknowledged the conclusions of the United States Coast Guard that, among other things, the safety management systems of both Transocean and its Deepwater Horizon rig had significant deficiencies that rendered them ineffective in preventing the accident. MOEX has concluded that entering into a settlement with BP is in its best interest. The agreement is not an admission of liability by any party regarding the accident.


Under the settlement agreement, MOEX USA Corporation, the parent company of MOEX Offshore 2007, will pay BP USD 1.065 billion. BP will immediately apply the payment to the USD 20 billion trust it established to meet individual, business and government claims, as well as the cost of the Natural Resource Damages.

MRC