Petronas to build USD 1.6 bln Brunei complex

(Business Times) -- Petronas plans to build a USD 1.6 billion petrochemical complex in Brunei with Germany's BASF, Malaysia's state news agency Bernama reported on Tuesday quoting Prime Minister Najib Razak. No further details on the complex were immediately available. ⌠Both projects will have positive impact on both countries, particularly the job opportunities to be created, Najib was quoted as saying during his annual visit to the oil-rich sultanate.


MRC

Jubail refinery to start in December 2013

(Arabian oil and gas) -- Saudi Aramco Total Refinery and Petrochemicals Company (Satorp) expects its new refinery at Jubail in Saudi Arabia to be fully operational in December 2013, the joint venture's chief executive said on Tuesday, according to a Reuters report. The USD 14 billion Jubail facility is part of the Kingdom's plan to almost double its refining capacity.


"Overall Engineering, Procurement and Construction work at the refinery is 68% complete," Fawwaz Nawwab, CEO of Satorp, told reporters in the Saudi capital Riyadh.


Nawwab said that although the refinery was designed to process 400,000 barrels per day (bpd), Saudi Aramco had committed to supply it with up to 440,000 bpd.


MRC

India's polyvinyl chloride prices to decline over the next few weeks

(ICIS) -- India's polyvinyl chloride (PVC) prices are expected to continue declining over the next few weeks as a result of weak demand, tightened monetary policy and macroeconomic uncertainty, industry sources said on Tuesday.


Prices in India fell to USD 1,030-1,070/tonne (EUR 762-792/tonne) CFR (cost & freight) India on 9 September, USD 70-90/tonne lower compared with prices two weeks ago, according to ICIS data.


Meanwhile, prices in China fell by USD 30/tonne from two weeks ago to USD 1,050-1,070/tonne CFR China Main Port (CMP) last Friday. In the Middle East, prices fell by USD 30-60/tonne to USD 1,030-1,060/tonne CFR Gulf Cooperation Council (GCC)/ East Mediterranean.


Major Indian producer Reliance Industries Ltd (RIL) has adjusted its domestic list prices downwards by Indian rupees (Rs) 3/kg ($63/tonne) to mirror the decline in import price levels, market participants said.


MRC

Kazakhstan's oil and gas production volumes to exceed 80 million tons

(Trend) -- The oil and gas production volumes in Kazakhstan in 2011 are forecasted at 81 million tons in accordance with the oil and gas ministry's report, Economic Development and Trade Minister Kairat Kelimbetov said on Tuesday.


"The oil production volume in 2011 is expected to reach 81 million tons, with an increase of 1.9 percent compared to 2010," Kelimbetov said at a cabinet meeting dedicated to the socio-economic development of the country in 2011.


Given that the average world price of Brent actually reached USD 111.6 per barrel in January-August, then the forecast on world oil prices increased from USD 65 to USD 90 per barrel in 2011. "This level takes into account the risks of possible fall in prices by late 2011," he added.


MRC

AT&Tto introduce new plastic in accessory packaging

(Plastemart) -- AT&T announced plans to introduce new plastic in AT&T-branded accessory packaging, which is composed of up to 30% plant-based materials sourced from ethanol harvested from natural sugarcane. Customers can expect to see the transition to the new packaging in stores and online starting October 2, 2011. The plastic will be used in packaging for AT&T-branded wireless accessories, which includes most device cases and power accessories.


MRC