Dow and Aramco confirmed Jubail for the new JV project

(plastemart) -- Saudi Aramco and Dow Chemical Co have confirmed Jubail Industrial City as the planned site location for their proposed joint venture petrochemical project. The decision followed an in-depth evaluation anticipated infrastructure benefits and various potential business integration opportunities at the location - the largest industrial complex of its kind in the world. Front-end engineering and design (FEED) work is expected to be completed in mid-2011.

MRCMRC Reference

Share in the Russian market, 2008:

polyethylene - 2.5% (including LLDPE - 33.1%);

polypropylene - 0.8% (including PP-impact - 1.1%);

polystyrene - 2.6%.

Annual sales growth in Russia, recent 5 years:

polyethylene - 55%;

polypropylene - 28%;

polystyrene - 2%.

Imports by processing technologies:

pipe extrusion;

film extrusion;

sheet extrusion;

foaming

(El Khabar) -- Qatar Petroleum (QP) has joined the Franco-Algerian partnership of France's Total and Algeria's Sonatrach in a joint venture project to construct the ethane cracker in Arzew, western Algeria.

The US$5 billion project encompasses the construction of an ethane cracker and three product lines.

Initially, Sonatrach awarded a contract to Total to construct the ethane cracker where Total had a controlling 51% stake of the project and Algeria's Sonatrach 49%. However new governmental regulations obliging local partners to control the majority of any JV project with foreign partners have forced the French oil giant to relinquish some of its share.

MRC

(Kommersant) -- On Thursday new staff of Bereznikovskiy Sodoviy Zavod (BZS) board of directors was elected at the special company's stockholders meeting. Representatives of Bashkhimia interests were elected as new board members. Besides that, the new board decided to pass the privileges of BZS single executive organ to Bashkirskaya Khimia Ltd. Earlier the company's CEO was changed due to change of the company's owners. Instead of Yuriy Kovyrzin, who has been the company's head since 2003, new top-manager became Yuriy Ivanovsenior, former chief engineer of Sterlitamak-based Soda Ltd. (Bashkhim affiliate).

MRC

MOSCOW (MRC) -- PVC demand in Asia started recovering after a long-term slump. Demand recovery has led to price increase, August prices in Europe, Asia and North America went up by average USD 20-50/mt - according to MRC PVC market Price reports.

PVC prices in Asia, particularly, in China, started declining in May. The biggest exporters from North America and northeastern Asia were forced to drop the prices. Actions of Chinese government to defend the country's economy against overheating served the main reason of PVC demand decrease. In late July buying activity in Asia started growing gradually, after long-term fall PVC prices also resumed their growth.

PVC price offers for the Russian market went up by average USD 20-50/mt. North American suppliers have raised PVC prices for August by average USD 40/mt to the level USD 940 - 980/mt, CFR Saint-Petersburg. Resin from northeastern Asia is offered at average USD 980 - 1.040/mt, CFR Saint-Petersburg.

European producers also lifted suspension prices for August by EUR 15-45/mt despite the decrease of ethylene contract prices. The increase of Euro/Ruble exchange rate to the level 39,2 and July car transport price hikes in Europe should also be mentioned.

MRC

For more information about prices in the Russian PVC market please refer to MRC Price reports.

(Rossiyskaya Gazeta) -- On Wednesday in Moscow refinery's territory fire was commited, and yesterday hydrogen leakage happened. According to preliminary data, no victims appeared.

About noon breach of hydrogen line happened at one of the production lines. Rescuers and plant staff are working at the accident scene, cooling the gas flowing out as it can blow in high temperature. Simultaneously efforts to switch off the unit for further repairs of the blast spot are being made.

MRC