China's petrochemical industry to realize USD 2.31 trln of gross domestic output

(Plastemart) -- China's petrochemical industry is expected to realize 15 trillion yuan (USD 2.31 trln) of gross domestic output value by the end of 2015, said Li Yongwu, chairman of China Petroleum and Chemical Industry Fedration(CPCIF), as reported by Asia Pulse. The industry has made rapid growth during the Eleventh Five-Year Program period (2006-2010) with the gross domestic output value reaching 8.88 trillion yuan in 2010.

Li added that the output value of China's petrochemical industry soared 160% from 2005 to 2010. Crude oil production hit 203 mln tons in 2010 while crude runs reached 420 mln tons and ethylene 14.19 mln tons.

The industry achieved many breakthroughs in coal chemical technology, petroleum exploration and development, catalysis technology and energy-saving technology during the Eleventh Five-Year Program. Its exports and imports gained 130% to USD 458.78 bln in 2010 and accumulatively attracted 427.18 billion yuan of foreign investment in the year.

MRC

MOSCOW (MRC) -- In 2010 PVC processing capacities in Russia grew by 283 KTa which was 3% higher than in 2009, according to MRC Annual report.

The biggest capacities gain (162 KTa) was marked in the profiles sector. Here new profile capacities were launched - 140 KTa, and siding capacities - 7 KTa.

In 2010, 215 complete lines were installed, including 27 Mikrosan Makina lines and 21 Krauss Maffei lines. Last year Narodniy Plastic, Plafen, Veka Rus and Docke Extrusion actively developed their production sites.

Capacities of PVC granulates production grew by 27 KTa in 2010 (24 complete lines). In this sector two companies should be pointed - Uralchemplast and Polymerplast.

Producers of PVC pipes increased their capacities by 12 KTa (22 lines). Still the most popular segment for investments is the sector of hoses production (11 complete lines).

In 2010 PVC-S production for pipes manufacturing exceeded the level of 66 KT. Capacities of cable insulation grew more than by 10 KT (investments of Uralcable, Electrocable, Pskovgeocable, Tomskcable).

Detailed analytics on investments in PVC processing by regions, sectors and converters in Russia is presented in MRC Annual report PVC in Russia 2011.

MRC

(Zawya) -- The proposed expansion of Sohar Refinery is expected to boost production of adjoining downstream petrochemical industries. "The additional feedstock requirements of both Aromatics Oman and Oman Polypropylene will be met through this expansion. This will boost our petrochemical production, especially in Sohar industrial area," Mohammed bin Hamed Al Rumhy, Minister of Oil and Gas, told reporters, after signing an agreement for front-end engineering design (FEED) and project management consultancy (PMC) with CB&I Lummus B V here yesterday.

The pact was signed on behalf of Oman Oil Refineries and Petroleum Industries by Al Rumhi and Scott Wiseman, vice-president of CB&I Lummus. These contracts are linked to a massive expansion of Sohar Refinery to take the total refining capacity to 187.000 barrels per day (bpd) from 116.000bpd now. The expansion project, with an estimated capital expenditure of USD 1.5 billion, will be completed in 2015.

MRC

(Focus Taiwan) -- Residents living near the Formosa Plastics Group's petrochemical complex in central Taiwan voiced anger Friday over the latest fire that broke out at the facility -- the third in a year -- and demanded that the company deal with its safety problems.

A fire broke out at one of the group's petrochemical plants in the Yunlin County complex in Mailiao Township Thursday night. No one was injured, but the blaze smoldered until Friday morning.

The township leaders asked Formosa Plastics to tell them if the latest fire generated pollution, establish an alert system in each of the town's villages, and set up an emergency notification mechanism. The groups also wanted the company to suspend operations to conduct thorough checks of all of the facility's wiring and piping and form a monitoring team on production lines.

The fire occurred less than a year after two similar incidents at the complex last July. In October last year, a fire broke out at a factory operated by a member of the Formosa Plastics Group in Chiayi County in southern Taiwan.

MRC

(Braskem) -- Braskem, the leading thermoplastic resin producer in the Americas and the world's largest biopolymer producer, is a participant in the 2011 United Nations Global Compact Week and the Meeting of Signatories of the Caring for Climate initiative. The Global Compact Week will be held from May 16 to 20 and the Meeting of Signatories will be held on May 17 in Copenhagen, Denmark. This year's annual signatories meeting has the theme Business Contribution to Global Sustainability Ahead of Rio+20, which is the UN Conference of Sustainable Development to be held in Brazil next year.

Braskem became the world's largest producer of biopolymers, which are resins made from renewable raw materials, in 2010, when it began to make polyethylene made from ethanol, advancing its strategy to become the world leader in sustainable chemistry. The green plastic produced by Braskem recently received the highest certification for renewable products from Vincotte, a Belgium certification association that is one of the world's main references in this type of evaluation.

MRC