HPCL is in talks with BP Plc and Total SA to revive petrochem project

(Plastemart) -- In a bid to revive the delayed USВ10 bln refinery cum petrochem project planned at Vizag, Hindustan Petroleum Corp Ltd (HPCL) is in talks with BP Plc and Total SA of France. Both the foreign partners seem to have renewed interest in the project, and the Mittal group is likely to return.


As per original plans the HPCL-led consortium included steel billionaire LN Mittal's group, Total of France, state-owned Oil India and GAIL. However, demand too weak to justify investment led to suspension of the project in 2009. It is likely that success of Rs 18.919 crore Bhatinda refinery, which has been built by an equal joint venture of HPCL and Mittal Investment Sarl in flat three-and-a-half -years, has renewed interest in the Vizag project.


MRC

BASF to increase production capacity for copper and copper-chrome catalysts

(BASF) -- BASF, the global leader in catalysis, has announced a new round of capital investment projects to increase its production capacity and further enhance its global manufacturing operations for copper and copper-chrome catalysts.


These investments are aimed at improving catalyst manufacturing efficiency to meet increased global demand. They follow an earlier round of process improvement and capacity enhancement projects for the copper-chrome product line that were completed earlier this year.


BASF produces a wide variety of base-metal catalysts, which are primarily used in petrochemical and oleochemical processing. Typical catalyst applications include guard beds; hydrogenation processes, such as solvent and gasoline dearomatization; dehydrogenation processes; monomer production; and manufacturing of specialty and detergent alcohols.

MRC

BASF to invest in production of acrylic acid, butyl acrylate and SAP in Brazil

(BASF) -- BASF will invest in a world-scale production site for acrylic acid, butyl acrylate and superabsorbent polymers (SAP) in Camacari, Bahia, Brazil. It will be the first acrylic acid and superabsorbents plant in South America. With an investment volume of more than EUR 500 million, it is the largest investment in BASF's century-long history in South America.


In addition, BASF will start to produce 2-ethyl-hexyl acrylate, an important raw material for the adhesives and special coatings industries, in its existing chemical complex in Guaratingueta, Sao Paulo . This will be the first plant for this product in South America.


With the new acrylic acid complex, BASF aims to ensure the supply for important products as: superabsorbents for diapers, acrylic resins for coatings, textiles and adhesives and products for civil construction.


The construction of the new acrylic acid complex will start in 2011 employing about 1,000 individuals during construction. Production is expected to begin in the fourth quarter of 2014, generating 230 direct and 600 indirect jobs. The production for 2-ethyl-hexyl acrylate in Guaratingueta is expected to start in 2015 on the basis of Acrylic Acid produced in Camacari.

MRC

Peak of pipe PE imports in Russia to fall to October

(MRC) -- Major Russian producers of pipes are actively contracting polyethylene in foreign markets for September - October production. The peak of PE pipe imports is expected in October, but it will be lower than a year ago, according to MRC DataScope.


Last year the peak of imports fell to October and made around 14 KT. Such significant import volumes were boosted by high demand and planned shutdown of Kazanorgsyntez HDPE production in September.


This year is not going to be an exception. The peak of PE pipe imports is also expected to be in October, but the figures will be lower compared to last year period.


Prices for September - October deliveries of European coloured PE100 are settled in the range of EUR 1.100-1.200/mt, FCA. In Asia the material for August deliveries is offered, on average, for USD 1.600 - 1.660/mt, FOB.


Despite ongoing shutdown for maintenance of Kazanorgsyntez, the only Russian producer of coloured PE 100, there is sufficient PE offer in the market.


Price offer for the Russian coloured PE 100 in the spot market is, on average, in the range of RUB 61.000-62.000/t, including VAT, FCA Kazan.


MRC

US propylene contracts for August settled flat with July

(ICIS) -- US propylene contracts for August settled flat with July, market sources said on Wednesday, confirming an initial agreement reached late last week. The settlement keeps polymer-grade propylene (PGP) at 78 cents/lb (USD 1.720/tonne, EUR 1.187/tonne) and chemical-grade propylene (CGP) at 76.50 cents/lb, as assessed by ICIS.


US producers had originally sought a 3 cent/lb increase for August, but buyers resisted the initiative and pushed for a rollover after crude oil prices began to fall earlier this month.


US propylene contracts usually settle at the beginning of the month being negotiated. In the spot market, refinery-grade propylene (RGP) for August traded at 68 cents/lb this week, flat with deals done during the week ended 12 August.


MRC