Petchem price trends in Asia

Ethylene prices rebounded on the last day of the week in Asian markets after two flat days of trade, propelled by tightening of supplies and higher crude and naphtha prices. In Europe, ethylene spot prices touched new highs, bolstered by rallying naphtha prices and various production issues in the European cracker system.

MRC

PCS managing director Akira Yonemura said: "We are also very pleased to announce our decision to go ahead with our new butadiene plant, which is made possible through the close collaboration with LANXESS.
"This new investment will further strengthen PCS's competitive position and we look forward to working with LANXESS for the successful completion and start-up of both our new plants."
PCS is constructing a new butadiene extraction unit and associated infrastructure necessary to provide the raw material.

TP Utilities director and Tuas Power president and chief executive officer Lim Kong Puay said: "We thank LANXESS for continuing to show strong confidence in our services by selecting TP Utilities again as a key supplier to its latest milestone project. We will be supplying steam to LANXESS' new Nd-PBR plant, when it begins operation, for a contract period of ten years, with an option to extend the service."

MRC

Cereplast Compostables resins are ideal for applications where high levels of biobased content and excellent compostability are required, particularly in the food service industry. Cereplast Sustainables resin portfolio, which includes the new Hybrid 105D and Hybrid 102D grades, will also be featured at NPE 2012.

These resins combine high biobased content with survivability and durability of traditional plastic, which make them suitable for applications in packaging, consumer electronics, automotive and other industries. Frederic Scheer, Chairman and CEO of Cereplast, stated that NPE 2012 is an excellent platform for the company to showcase its technologically advanced biobased materials to the global market.

MRC

(steelguru) -- Mr Levan Kadagidze head of Gazprom Neft commercial division said that Sibur and Gazprom Neft were looking at the possibility of setting up the production of polypropylene in Omsk at the under-construction plant Poliom.

The companies already have a joint venture that makes polypropylene NPP Neftekhimiya, which operates as part of Moscow Oil Refinery. Mr Kadagidze said "The partnership has proved successful, and now we, Sibur and the Titan group are working on the next project for the production of polypropylene in Omsk at the under-construction plant Poliom."

He said that Gazprom Neft is now in the active phase of negotiations with a leading world film producer over the possibility of joint production at production facilities on the premises of Moscow Oil Refinery.

The company is also keeping with its plans to set up the production of terephthalic acid and polyethylene terephthalate. Mr Kadagidze said "Sibur and Gazprom Neft in December of 2010 signed a memorandum that concerns the development of [terephthalic acid and polyethylene terephthalate] production. The assumption is that production will be based at Gazprom Neft's Omsk oil refinery."

Titan began building the Poliom polypropylene factory in 2008. In December of 2011, the plant turned out its initial test batch of product, but it has not yet been put in to industrial production. Production capacity is 180,000 tonnes per year. Titan is also looking at the possibility of building a second, 85,000-tonne-per-year line at the plant.
MRC