Sibur may take part in Iranian projects

(europeanplasticsnews) -- Russian petrochemical giant Sibur may help implement a number of petrochemical projects in Iran in cooperation with the local National Petrochemical Company, Iran's leading petrochemical producer, according to Iranian media reports.

According to Abdul-Hussein Bayat, Director General of National Petrochemical Company, Sibur may help build a petrochemical plant, Khaleej Farce, in Bushehr.
The Iranian media have also reported on a recent agreement between Iran and Russia on the construction of a petrochemical complex in an industrial Assaluye area on the northern bank of the Persian Gulf. According to Bayat, the Iranian petrochemical industry needs about ┬37bn of investments, with an annual volume of investments of at least ┬4.47bn.
He added that over the past 50 years more than ┬34bn has been invested in developing the counrty's petrochemical industry and increasing its production capacities. The country currently has the capacity for the production of 51m tonnes of petrochemical products per year.
According to Bayat, Iran currently ranks first in the Middle East in terms of annual production of petrochemical products, thanks to its rich raw materials base and favourable geographical location.
According to Bayat, by the end of 2015 the volume of production of petrochemical products in Iran should increase by half - to 100m tonnes per year.

The Polymers Summit ICIS-MRC - 2011 has been held today, on Nov, 30 in the Ritz-Carlton Moscow. The main topics of the reports were devoted to the development of petrochemical market and the strategy in the market of base polymers as well as launching new polymer productions.

MRC

(plasticsnews.com) -- The leader of Europe's trade association for plastics processors has highlighted ⌠the dangers of an obsession with the EU's financial woes and ⌠a neglect of the opportunities which can be created by our manufacturing sector.

Alexandre Dangis, managing director of Brussels-based European Plastics Converters (EuPC), said: ⌠The EU needs the political will to implement austerity measures for sure but governments and the media should recognize that large areas of the corporate manufacturing sector are performing well, generating profits and creating jobs. The mood in the plastics sector is upbeat, he said.

⌠We are an incredibly lively industry, he said. ⌠We are developing products from new types of material such as bio-based plastics, we are finding ways to recycle more plastics products, using more recyclates in final applications, and we are using plastics in more demanding and challenging applications such as in aerospace, automotive and healthcare.
⌠We are also in the lead in showing how our plastics products can help alleviate the effects of pressing issues such as climate change through the insulating qualities of plastics building products' for more sustainable housing.
According to Dangis, the European Union's institutions can do more to boost the industry's business development potential. ⌠The creation of a Single European Market necessitated the harmonization of technical standards and all too often in this process the role of plastics in general or individually has been questioned

The Polymers Summit ICIS-MRC - 2011 has been held today, on Nov, 30 in the Ritz-Carlton Moscow. The main topics of the reports were devoted to the development of petrochemical market and the strategy in the market of base polymers as well as launching new polymer productions.

MRC

LONDON (ICIS)--The European December propylene contract price has been fully confirmed down by ┬18/tonne ($24/tonne) at ┬995/tonne on Wednesday, following second seller support.
The second settlement was reached between a second net producer and a third non-integrated buyer.
In addition, an integrated buyer said it has also followed the initial settlement with a supplier, although it was not able to disclose the name of the seller in question.
The initial propylene settlement was agreed early on Tuesday afternoon and was between two non-integrated buyers and the same net producer.
The December propylene agreement, which was concluded on a free delivered (FD) northwest Europe (NWE) basis, marks the first time that the European propylene contract price has moved back into three-digit territory since December 2010, according to ICIS price history. This follows 11 successive months of European propylene contract prices in four digits.
Some buyers said the ┬18/tonne fall was close to their original expectations of a reduction of around ┬20/tonne.
Some customers hoped for larger price reductions of ┬40-80/tonne to try to restore competitiveness with other regions, but this was not achievable in view of current feedstock costs and ailing cracker margins, and the decrease of ┬18/tonne was seen as more of a ⌠compromise, according to some buyers.

The Polymers Summit ICIS-MRC - 2011 has been held today, on Nov, 30 in the Ritz-Carlton Moscow. The main topics of the reports were devoted to the development of petrochemical market and the strategy in the market of base polymers as well as launching new polymer productions.

MRC

MOSCOW (ICIS-MRC) -- Russia's major polymers producers have reiterated plans to launch import substitution projects in coming years, at the Russian Polymers Summit jointly held by ICIS and MRC in Moscow on Wednesday.

Sibur is prioritising increased production of polymers as a result of significant domestic market growth potential, as Russia still lags behind developed nations in terms of per capita polymer consumption, said Sibur president Dmitry Konov.

The company has ongoing projects to build new facilities to produce polypropylene (PP) and polyvinyl chloride (PVC) that will replace imports, Konov said in a televised message to the summit.
In 2013, Sibur aims to start operations at its new 500,000 tonne/year PP facility that is being built at the premises of its subsidiary Tobolsk-Neftekhim, said Sergey Komyshan, the head of Sibur's polymers department.

The construction of a new 330,000 tonne/year PVC plant at Kstovo in the Nizhny Novgorod region is due to be completed by mid-2013, Komyshan told the summit.
Russian oil major Lukoil is prioritising the development of its petrochemical arm, said Alexander Rappoport, Lukoil's head of petrochemicals.

Lukoil aims to build a major gas-chemical complex to produce polymers in the Stavropol region, relying on regional tax breaks, he told the summit.
The complex, designed to utilise natural gas from Lukoil's offshore Caspian gas fields, will include a gas processing plant and new polyethylene (PE)/PP production facilities in Budyennovsk, near Lukoil's existing PE/PP plant. Lukoil earlier estimated its cost at about $2.6bn (┬1.95bn).

MRC

LONDON (ICIS) -- European chemical stocks fell on Wednesday after eurozone finance ministers agreed that stronger support was needed from the International Monetary Fund (IMF) to help tackle the zone's debt crisis.

At 10:16 GMT, the Dow Jones Euro Stoxx Chemicals index was trading down by 0.40%, as shares in many of Europe's major chemical companies dropped slightly. Swiss specialties maker Clariant was trading down by 0.89%, while Germany's chemical major Bayer was down by 0.31%.

German specialty chemicals maker LANXESS was trading down by 1.09%, and France-based chemical major Arkema had fallen by 0.89%. Norwegian fertilizer major Yara International was trading down by 5.70%. Finance ministers from the 17-member eurozone met in Brussels on Tuesday to agree a plan for increasing the region's bailout fund and tackling the eurozone debt crisis.

However, investor confidence was hit as plans to increase the bailout fund to ┬1,000bn ($1,333bn) were said to be unlikely to be achieved, while ministers agreed that the IMF would need to play a bigger role in the debt crisis.
At 10:16 GMT, the UK's FTSE 100 was trading 0.31% down on its previous close. Germany's DAX was down by 0.70% and the CAC 40 in France was down by 1.10%.

The Polymers Summit ICIS-MRC - 2011 has started today, on Nov, 30 in the Ritz-Carlton Moscow. The main topics of the reports were devoted to the development of petrochemical market and the strategy in the market of base polymers as well as launching new polymer productions.

MRC