Lyondell extended the primary expiration date for an exchange offer

(LyondellBasell) -- Lyondell Chemical Company, a wholly owned subsidiary of LyondellBasell announced that it has extended the primary expiration date for an exchange offer which commenced Sept. 15, 2011 relating to its outstanding dollar-denominated 8% Senior Secured Notes due 2017 and its outstanding euro-denominated 8% Senior Secured Notes due 2017.

The exchange offer, which was initially scheduled to expire at 12 a.m. Eastern Daylight Time on Oct. 13, 2011, has been extended until 12 p.m. Eastern Daylight Time / 5 p.m. British Summer Time on Oct. 17, 2011. Holders of notes previously tendered for the exchange have the right to withdraw tenders of the notes at any time prior to the expiration of the exchange offer. As of Oct. 13, 2011, holders of $1,822,500,000, or 100 percent, of the outstanding principal amount of the dollar notes and holders of euro 303,216,000, or 99.8 percent, of the outstanding principal amount of the euro notes had tendered their notes for exchange.

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 are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.

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(Arabian oil and gas) -- Methanol Chemicals Company (Chemanol) has started technical enhancement at its methanol and di methyl formamide plants in Jubail industrial city, to increase the productivity.

The company said in a statement that it expects the temporary closure of these plants for 12 days. ⌠The other plants will be operating normally, without interruption, and the financial impact will be very limited as we do have inventories that allow us to meet our engagements, the company said in the statement.

Chemanol started up its methanol plant, which provides the main feedstock for the firm's entire product range, in early October 2009. ⌠We have successfully completed several expansion projects, raising production capacity from an initial 420,000 t/y to nearly 1 million t/y, which enjoys a competitive price on a global level compared to other producers, Khalid Ibrahim Al- Rabiah, chief executive officer of Chemanol told Refining & Petrochemicals Middle East.

The company currently produces formaldehyde, para formaldehyde, formaldehyde resins (liquid and powder), hexamine and super plasticisers. Around 70% of its current production is exported to around 50 countries around the world.

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(Arabian oil and gas) -- ConocoPhillips has announced that its board of directors has chosen the leaders for the two independent energy companies that will result from the previously announced strategic repositioning of ConocoPhillips.

Ryan Lance will become the chairman and chief executive officer of ConocoPhillips, the upstream company, and Greg Garland will become the chairman and chief executive officer of the downstream company.

Jim Mulva, the current chairman and chief executive officer of ConocoPhillips will retire subsequent to completion of the separation. The repositioning is expected to be completed in the second quarter of 2012.

⌠I am honored to lead the highly skilled and dedicated people at ConocoPhillips into the next chapter of its distinguished history as a pure-play exploration and production company, said Lance. ⌠ConocoPhillips will retain the size, scale and capability to pursue any project globally, with the additional benefit of greater focus. With our enhanced balance sheet and strong capabilities, we will pursue the goals of the repositioning plan, including investing in good opportunities, maintaining capital discipline, and continuing to return available cash to shareholders.

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(BASF) -- BASF's Basotect melamine foam is in use for insulating the Gobi line of solar flat plate collectors by Heliodyne, Richmond, California, one of the oldest and largest manufacturers of solar collectors in the US. The Gobi line is Heliodyne's flagship product that has continuously been refined and optimized for over 30 years.


Heliodyne chose insulating Basotect parts, custom cut by the thermal and acoustic composite manufacturer Polymer Technologies of Newark, Delaware, over other foam materials as the insulation to line the back and the sides of their collectors. The BASF foam shows excellent insulation capabilities as well as long-term, high temperature resistance.


Because the foam is lightweight, flexible and free of fibers, it is easier to store and assemble than other insulation materials. While other materials may off-gas at higher temperatures, Basotect releases practically no substances that could fog the gas and block solar radiation. The BASF material can also be easily shaped. Polymer Technologies is able to manufacture parts that are customized to fit perfectly during assembly.


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(PlasticsToday) -- One of Asia's leading suppliers of polyethylene and petrochemicals, Thailand's PTT Chemical, is investing $150 million in NatureWorks, the Minnetonka, Minnesota-based supplier of the Ingeo brand of polylactic acid-based bioplastics. NatureWorks has been actively searching for a site in Asia for a new facility and now also announced that Thailand is the preferred location for its next Ingeo manufacturing facility. Steve Davies, global director for marketing and public relations at NatureWorks, told PlasticsToday that when the deal finalizes, PTT Chemical will hold a 50% stake in the company, splitting ownership with agricultural giant, Cargill.

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