Gail India reported a higher net profit on increased revenues for Q2

(Plastemart) -- Gail India Ltd. has reported a higher net profit on increased revenues for the second-quarter of this financial year- Rs.1094.41 crore, 19 percent higher than the Rs.923.55 crore.
Net revenue from operations for the quarter increased by 20% to Rs.9,699.02 crore from Rs.8,104.09 crore for the same period last year, while other operating income was Rs.27.38 crore, compared with Rs.24.13 crore in the corresponding quarter last year.

Revenue from Petrochemicals segment totaled Rs.937.64 crore, up by 30% from the Rs.720.89 crore for the same period last year. One of the reasons for the better performance of the petrochemicals business is an improvement in sales volume. After a weak performance in the June quarter, the petrochemicals business of GAIL (India) Ltd has done well in the September quarter, boosting overall performance to that extent.

For the six-month period, GAIL reported a net profit of Rs.2,079.08 crore, higher by 15% than the Rs.1,810.43 crore for the comparable period a year-ago. Total revenue, including other operating income, increased by 22% to Rs.18,615.40 crore from the Rs.15,243.97 crore in the corresponding period last year.

MRC

(BASF) -- BASF has developed a packaging system which sets new quality standards. In the future PeroXeal will protect the pharmaceutical excipient Kollidon, based on PVP (polyvinylpyrrolidone), even better against contact with oxygen and subsequent o xidation. This makes it possible to significantly reduce the peroxide level of Kollidon , making the excipient suitable for use in oxygen-sensitive formulations as well. Under the trade name Kollidon, PVP is used in tablets as a binder and as disintegrant.


"With PeroXeal BASF is setting new standards for excipients in terms of formula stability and purity and can thus help its customers in the pharmaceuticals industry achieve higher levels of patient safety," says Dr. Boris Jenniches, head of Global Business Management PVP at BASF. "With our new packaging concept we can significantly reduce peroxide values to a level comparable with that of naturally-based raw materials. This makes Kollidon a viable alternative to naturally-based raw materials". Generally, Kollidon as synthetic polymer shows less variability in processing compared to its natural counterparts. Further advantages of PeroXeal: The shelf life of the excipient is extended and by-products in the formulation are reduced.


MRC

(ICIS) -- South Korea's petrochemical exports in September grew 30.9% year on year to $3.8bn (┬2.7bn), thanks to a weak won and crude-led spikes in product prices, analysts said on Tuesday.
Strong crude futures boosted the prices of the country's chemical and refined products, according to Hong Chanyang, a petrochemicals industry analyst at Seoul-based Shinhan Investment Corp.
Exporters also benefited from the depreciation of the won, as the South Korean currency tumbled by more than 9 % against the US dollar in September, Hong said. A weaker currency helps a country better compete in the exports market.

South Korea's shipments of most petrochemical products last month increased on a year-on-year basis, data from Korea International Trade Association (KITA) showed.

Exports of ethylene surged by 39% year on year to 67,067 tonnes in September, while overseas shipments of propylene jumped 91% to 93,016 tonnes, according to KITA. For aromatics, exports of benzene rose 29% year on year to 125,461 tonnes, while shipments of toluene increased 13% to 63,296 tonnes, the data showed. Paraxylene (PX) exports, meanwhile, inched up 18% to 154,657 tonnes.


MRC

(Arabian oil and gas) -- Chinese state-backed oil firm CNPC has finalised an oil exploration and development deal with the Afghan government, the first in the country's modern history. CNPC beat UK firm Tethys Petroleum for the development of oil resources at Amu Darya in the northern Sar-e Pul province on terms which the Afghan Ministry of Mines has promised to disclose in full in around a months' time.

Amu Darya contains five known fields which together are estimated to hold 80 million recoverable barrels of oil, or 11,000 barrels per day over 20 years, enough make Afghanistan a most oil exporter.

Jalil Jumriany, policy director at the mines ministry, estimates CNPC will invest $200-300 million in the projects in the first few two years.

The US Pentagon's Task Force for Business and Stability Operations for Afghanistan assigned to monitor the bidding process released a statement on the bidding:

MRC

(Plastemart) -- PSU Bharat Petroleum Corporation (BPCL) plans to set apart Rs 20,000 crore to further enhance capacity of Kochi Refinery (KRL) to 15.5 mln tpa at Ambalamugal and for setting up a petrochemical complex. Talks are underway with the state government. Capacity expansion and modernisation project Phase II of the project at a total cost of Rs 4,000 crore is one of the largest capital investments in Kerala.

A Rs 4,000 crore expanded capacity and modernised facilities of the BPCL-KRL refinery has been unveiled. With the project's completion, the refining capacity has been enhanced to 9.5 mln tpa from 7.5 mln tpa.

MRC