Honeywell's UOP to provide propylene production technology

(Plastemart) -- Honeywell's company UOP LLC has been selected by Zhejiang Julong Petrochemical Co. Ltd to supply core technology for a new unit to manufacture propylene at its facility in Pinghu City, Zhejiang Province, China. Honeywell's UOP will provide engineering design, technology licensing, catalysts, adsorbents, equipment, staff training and technical service for the project. The unit is expected to start up by 2013 and to produce 450 KTa of propylene.

China's propylene consumption accounts for more than 15% of worldwide demand and is growing at about 5-6% pa. The new propane dehydrogenation unit at the facility will use UOP's C3 Oleflex technology to convert propane to propylene, a material used in the production of chemicals and materials such as films and packaging.

MRC

MOSCOW (MRC) -- Imports of suspended PVC (PVC-S) to Russia remains still high and exceeds demand. In July, the total import made around 50 KT, according to MRC analysts. This year the peak of PVC-S imports was in May, when the total import exceeded 55.4 KT.

June and July demonstrated a slight decline in imports on the back of prices hike for American PVC and delay in resin supply from China. However, import figures are still far exceed the demand.

US suppliers still prevail in the market: imports of American resin made more than 20KT. Then go the producers of acetylene resins from China.

Karpatneftechem (Lukoil group) keeps enhancing its position in PVC-S market in Russia. Over July, about 2 KT of its resin were delivered to the Russian market, with the first volume appearing in the Southern region of Russia.

Despite the excess of resin in the Russian market, local companies don't want to decrease purchases of PVC from foreign markets. Besides, Russian companies have not received yet a considerable amount of resin, contracted yet in May - June in China and the U.S. In August a significant reduction of PVC-S imports to the Russian market is not expected.

MRC

(PRNewswire) -- LyondellBasell today announced that its Supervisory Board has authorized the company's Management Board to declare a dividend of USD 0.20 per share, double the amount of the company's initial dividend paid in May 2011. The dividend of USD 0.20 per share will be paid on Sept. 7, 2011 to shareholders of record as of Aug. 17, 2011, subject to the adoption of a resolution by the Management Board, which is expected to occur on August 17.

LyondellBasell is one of the world's largest plastics, chemical and refining companies. The company manufactures products at 58 sites in 18 countries. LyondellBasell products and technologies include packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.

MRC

(ICIS) -- US-based Westlake plans to increase ethylene capacity by nearly 226.8 KTa by expanding its two crackers in Louisiana, the polyethylene (PE) and polyvinyl chloride (PVC) producer said on Tuesday.

The company is also considering plans to convert its cracker in Calvert City, Kentucky, to crack ethane instead of propane, said chief executive Albert Chao during the company's second quarter earnings call.

The first expansion will come in the second half of 2012 at one of the company's crackers in Lake Charles, Louisiana. The project will increase capacity by about 108.8 KTa. Then in 2014, Westlake plans to expand the second Lake Charles cracker by 113.3 KTa. Currently, both crackers have a combined ethylene capacity about 1.1m tonnes/year, according to ICIS plants and projects.

MRC

(ICIS) -- Asian polyethylene terephthalate (PET) bottle chip producers hiked their offers for August to at least USD 1.700/tonne (EUR 1.190/tonne) this week, USD 50-70/tonne higher than last week's assessed prices, on the back of surging raw material costs, industry sources said on Wednesday.

Offers from two Chinese producers advanced to USD 1.700-1.720/tonne FOB (free on board) China, from last week's level of USD 1.650/tonne FOB China. Some deals were heard concluded at USD 1.670-1.680/tonne FOB China early this week for exports to South America and Africa. But a producer has yet to conclude deals at the new offer level.

PET offers in Asian on Wednesday were up USD 50/tonne from the start of the week, while some sellers refrained from making offers given the ongoing instability in raw material costs. Market sources expect one PET producer will likely resume offers this afternoon at USD 1.720/tonne FOB NE (northeast) Asia.

MRC