Amerind Petroleum to establish a new refinery complex

(Plastemart) -- Amerind Petroleum Pvt. Ltd. has inked an MOU with the Andhra Pradesh government to establish an INR 12,000 crore refinery complex near Visakhapatnam in the PCPIR, BL reported. The company plans to relocate an existing US refinery.


Amerind has a technical collaboration with the American Industrial Corporation- a consortium of 14 US companies, to set up a petroleum refinery with initial capacity of 7.5 mln tpa of crude (150,000 bpd). To be set up on a turnkey basis by AIC, in phase I, it is proposed to relocate an existing running refinery acquired for INR 2,525 crore (about US$ 505 mln). In phase II, this would be expanded to 15 mln ton along with the setting up of INR 8.611 crore petrochemical complex.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC

ExxonMobil may face Iraq sanctions

(Arabian oil and gas) -- Iraq's Oil Ministry is being kept waiting by Exxon for an explanation of their decision to breach Baghdad's blacklist policy by taking up six exploration agreements with the Kurdish Regional Government.


The Ministry has so far sent four letters to Exxon asking for an explanation without response, according to a Reuters report, despite one being signed by Nouri Al-Maliki, the Prime Minister, and another by Abdul Karim al-Luaibi, the Oil Minister.


Exxon - which has not provided any public comment on the deals since they were disclosed by the KRG's Natural Resources Minister Ashti Hawrami on 12 November - may have put its field development contract at the supergiant West Qurna phase 1 field at risk by making the deals. Baghdad says contracts signed with the KRG are void because they give oil companies a proprietary interest in the region's oil, contrary to the Iraqi constitution, something the KRG hotly disputes.


Abdul Mahdy al-Ameedi, head of the Oil Ministry's petroleum contracts and licensing directorate, told Dow Jones Newswires that Exxon may be replaced at West Qurna 1 by Shell, which holds a minority (15%) interest in the development contract and is the operator of the Majnoon field.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC

Lanxess pioneering high-performance rubber for Green Tires in Japan and South

(Lanxess) -- Lanxess will be underlining its status as a premium supplier of high-performance rubber to the tire industry at its first-ever Rubber Days in Japan and South Korea this week. The world's largest synthetic rubber company is a key supplier of Nd-PBR and SSBR rubbers to leading tire manufacturers from both countries. Both products are essential in the production of Green Tires' that are more fuel efficient, safer and durable than standard tires.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC

Top-managers of Sibur confirmed their participation at The Polymers Summit-2011

(MRC) -- Sergey Komishan, head of directorate of basic polymers, Sibur, and Pavel Ljahovich,
deputy head of directory of plastics and organic synthesis sales and marketing, Sibur, confirmed their participation at The Polymers Summit-2011 which will be held on 30 November 2011 at The Ritz-Carlton Moscow. The Summit is organized by MRC (Market Report) and supported by ICIS.


Among others, the Summit participants will discuss the issues of pricing, PET and PVC market conditions, PP surplus, resources saving. The Summit program is formed on the basis of questions to speakers. The reports will be short and the speakers' time will be mainly devoted to negotiations with colleagues. The Summit site gives a possibility to ask questions to the speakers, invite for a cup of coffee and confirm or postpone a meeting. Registration on a site is free. For now there are 174 registered users of the Summit site - representatives of major Russian and foreign petrochemical companies.


MRC

Yisheng Petrochemical to shut a 650,000 tpa line at Ningbo from December 15 to January 15

(Plastemart) -- Yisheng Petrochemical will shut a 650,000 tpa line at Ningbo from December 15 to January 15 due to negative margins, as per Platts. Yisheng Ningbo comprises three PTA lines, two of which can produce 650,000 tpa each, and the third 2 mln tpa. Separately, it will reduce output at its 2 mln tpa Dalian plant by 20,000 tons in December and another 20,000 tons in January, equivalent to a 12% cut in production rate.


Domestic PTA prices are around Yuan 8,100/mt (US$1030/mt on an import-parity). But feedstock PX was assessed at US$1396/mt CFR Taiwan/China. Based on a conversion factor of 0.66 and a conversion cost of $150/mt, this means that PTA makers must break even at $1,071/mt. PTA has been under pressure from high feedstock prices and poor demand from polyester makers.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers' presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC