Active Green Window Solutions commissioned a new line for the production of profiles

(PlastEurope) -- As part of a cooperation with Germany's Rehau, Indian window and door manufacturer Active Green Window Solutions (AGWS, Pashamylaram, Andhra Pradesh) recently commissioned a new line for the production of window and door profiles. Aside from providing the profiles and the processing know-how, Rehau also is training the personnel.
AGWS management said it is confident the line will achieve full capacity utilisation within the first 30 days of operations. According to several media reports, the Indian company is already planning to install a second line.


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

Asia's spot prices of lauric acids continue to increase

(ICIS) -- Spot prices of lauric acids in Asia may continue to increase after rising sharply over the past two weeks, backed by high values of feedstocks crude palm oil (CPO) and crude palm kernel oil (CPKO), industry sources said on Monday. Spot prices were assessed at $1,300-1,400/tonne (┬975-1,050/tonne) FOB (free on board) SE (southeast) Asia in the week ending 23 November, up by $200/tonne or 16-18% from 9 November, according to ICIS.


⌠We are offering lauric at $1,500/tonne FOB SE Asia due to the current high CPKO price, said a major Indonesian producer. CPKO prices stood at $1,295/tonne FOB Malaysia on 25 November, according to the website of GateTrade, a trading platform for palm oil, coconut oil and biodiesel.
CPO prices are also on the rise on expectations of lower harvest due to the monsoon season in southeast Asia. On 25 November, CPO prices stood at M$3,070/tonne ($959/tonne), according to data from Bursa Malaysia.


Lauric acids are mainly used for the production of soaps and cosmetics. In southeast Asia, lauric acids are primarily derived from palm kernel oil and coconut oil.
Meanwhile, mid-cut C12-14 alcohols, which also use CPKO as the main feedstock, saw almost an 18% increase in prices over the past two weeks to $1,980-2,050/tonne on 23 November, ICIS data showed.


Some customers in the fatty alcohols market have been snapping up futures cargoes on expectations that prices will continue to rise.

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

Solutia acquired 95.7% of the Southwall Technologies

(PlastEurope) -- Specialty chemicals company Solutia (St. Louis, Minnesota / USA) on 23 November 2011 announced that it had acquired 95.7% of the outstanding shares in energy-saving films company Southwall Technologies (Palo Alto, California / USA) by the time the offer expired the day before.

The St. Louis-based group paid USD 13.60 per share and said Southwall stockholders who had not yet tendered their shares would be able to receive the same price. Southwall will now become a wholly-owned Solutia subsidiary.


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

Lukoil's net income was $9,012 million in the 9 months of 2011

(Lukoil) -- LUKOIL has published consolidated US GAAP financial statements for the third quarter and 9 months of 2011. The Company's net income was $9,012 million in the 9 months of 2011, which is 32.1% higher y-o-y, including $2,244 million in the third quarter. EBITDA in the 9 months of 2011 was $15,316 million, which is 27.8% higher y-o-y. Sales revenues were $99,101 million (+29.9% y-o-y). Positive dynamics of our financial results was mainly due to an increase in hydrocarbon prices in the 9 months of 2011 compared to the same period of 2010.


Net income for the third quarter 2011 was negatively affected by losses in the amount near $570 million due to depreciation of Russian ruble, including near $340 million of tax on currency translation gain of Russian LUKOIL subsidiaries.

The Company's strict financial discipline and efficient costs management helped to generate record high free cash flow in the 9 months of 2011 compared to the same period of previous years. Free cash flow reached $7,712 million in the 9 months of 2011 compared to $6,964 million in the 9 months of 2010. Capital expenditures including non-cash transactions in the 9 months of 2011 were $5.6 billion, which is 19.7% higher y-o-y.


In the 9 months of 2011, lifting costs per boe of production were $4.74, which is 17.3% higher y-o-y. The growth was mainly due to the real ruble appreciation by 14.6%.


Among the speakers of The Polymers Summit-2011 to be held in Moscow on 30 November, 2011, in The Ritz-Carlton Moscow, there will be Head of KGD&PPNiG (Lukoil ) Alexander Rappoport. The reports will also be done by ICIS Price editor Linda Naylor, Polyplastic Group President Myron Gorilovsky, Centropolymer Director Alexey Zavyalov, Sabic Europe General Director Geert Drummen,Europlastic General director Sergey Arbuzov, Head of direction "Extrusion foam polystyrene" (Тechnnikol) Vasiliy Tkachev, MRC Managing Director Sergey Yaremenko, Biaxplen General director Anton Matvienko, Deputy head of directory of plastics and organic synthesis sales and marketing (Sibur) Paul Lyakhovich, Head of directorate of basic polymers (Sibur) Sergey Komishan. The Summit is organized by MRC (Market Report Company) 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 198 registered users of the Summit site - representatives of major Russian and foreign petrochemical companies.


MRC

Gazprom has commenced drilling at the Badra field

(Arabian oil and gas) -- Russian state-backed gas giant Gazprom has commenced drilling at the Badra field and will complete exploratory drilling by April 2012, according to a Dow Jones Newswires report. The company, which holds the world's largest natural gas reserves, won the contract at the three billion barrel Badra field in 2009, and awarded the contract for exploratory drilling to Schlumberger.


The first appraisal well reached 4,900 metres on 24 November. After the initial exploration programme a deep appraisal well is planned to be spudded in June 2012, which will reach 6,200 metres.


Gazprom Neft's share, as lead operator on this project, is 30 per cent, Kogas' share is 22.5 per cent, Petronas' share is 15 per cent and ТРАО's share is 7.5 per cent. The Iraqi Government, represented by the Iraqi Oil Exploration Company (OEC) retains 25 per cent.


Gazprom is slated to spend $2 billion developing the field to its expected capacity of 170,000 barrels per day.

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