Indonesia needs petrochemical refinery

(news.szenergy) -- Pertamina unit business, Petrochemical Trading, hopes government build petrochemical refinery to supply the local needs. So far, Pertamina refinery is still mainly used for producing fuel.

"Pertamina only takes 30 percent in national petrochemical industry," the Vice President of Petrochemical Trading, Denny Wisnuwardhani, said on Friday. Petrochemical production from Petrochemical Trading relies on several refineries in Indonesia, such as Cilacap, Plaju, and Balongan.

Indonesia is left behind compared to four biggest petrochemical production countries in Asia. About 50-100 percent of petrochemical industry in China is owned by its government. Saudi Arabia owns 50 percent, Malaysia 70 percent, and South Korea 100 percent and those countries also invest in Indonesia.

On tax holiday scheme, four companies are planning to invest in Indonesia. First company is Posco Korea with total investment six billion USD. The second is Kuwait Petroleum in Balongan II Refinery with total investment in eight billion USD. The next is Saudi Aramco in Tuban refinery and Honam Petrochemical in Titan Petrokimia Nusantara Company in about 4.5 billion USD.


Wisnuwardhani said the last year production target of Smooth Fluid 05 (SF05) which became the oil base mud component in drilling was 70.000 metric tonnes (mt), but the realization was only 27.000 mt.
The trading target of petrochemical products this year hits 1.7 million mt, the Marketing Support Manager Petrochemical Trading Oos Kosasih said. "The margin target is 650 billion IDR," Kosasih said.

MRC

(news.szenergy) -- Iran has developed 69 plans to boost its petrochemical output from this year's 54 million tonnes to 100 million tonnes in 2015, said Emam Khomeini Petrochemical Company Managing Director Hasan Taqavi Ganji.

Iran exported some USD12 billion worth of petrochemical products during the past 11 months.

The production manager of National Petrochemical Company (NPC), Mohammad-Ali Bassaqzadeh, said that 30 kinds of petrochemical products have been exported to Asian, European, and African countries in the past 11 months.

Bassaqzadeh said that the figure shows a 75 percent increase compared with the same period last year.

He expressed hope that Iran's petrochemical exports would hit the planned target of 14 billion dollars by March 19, the last day of the Iranian calendar year.

Last year, Iran exported 16.2 million tonnes of petrochemical products to 60 countries and regions around the world.

According to the report, Western Europe and China are the main recipients of Iran's petrochemical exports, followed by Southeast Asia, the Middle East, the Subcontinent, Africa and Latin America.

MRC

(imakenews) -- Henkel, Oxea and Kraton Polymers will increase prices for lubricants and lubricant-related chemicals.

Henkel raised prices in North America on its industrial products for the automotive and metals industries. Product categories that will be affected are lubricants, adhesives, sealants and surface treatment products.

"The increases are a result of ongoing escalation of raw material and energy costs," the Dusseldorf, Germany based company said. "The first increases were implemented in January, and the remaining will take into effect throughout 2012 based on product type. Increases will vary by chemical platforms, and customers will be notified directly and in advance to any pricing changes." Its announcement didn't disclose the specific price change amounts.

Kraton Polymers of Houston will raise prices effective April 1 by USD400 per metric ton in the Asia Pacific region and by USD440 per metric ton or 20 cents per pound in the Americas for its SBS polymers and compounds. The polymers are used in lubricants and other applications ranging from personal care to paving.

Oxea implemented price hikes effective March 1, or as contracts allow, on several types of chemicals used in lubricants.

Oberhausen, Germany-based Oxea increased list and off-list prices for six amines effective March 1 by EUR60 to EUR100 per metric ton in Europe, USD90 to USD140/t in Asia and Latin America, and 4 to 6 cents per pound in the United States. Amines are used in lubricant additives and corrosion inhibitors.

The company raised list and off-list price increases for four carboxylic acids effective March 1 by EUR80 to EUR100/t in Europe, 5 to 15 cents per pound in North America, and USD100 to USD130/t in the rest of the world. Carboxylic acids are used in synthetic lubricants.

Oxea also raised prices 10 cents per pound in North America, and EUR150/t in Europe on two polyols, neopentylglycol and trimethylolpropane, which are used in synthetic lubricants.

MRC

(en.rian) -- U.S. manufacturer of industrial, process and specialty gases Praxair bought Volga Azot industrial gas producer from Russia's largest petrochemical group Sibur, Praxair said on Monday without disclosing the amount of the deal.

The purchase of Volga Azot based in the Volgograd region in country's south is the fourth largest investment of Praxair in Russia. The Russian subsidiary of the company has invested nearly USD250 million in the country's facilities since 2008.

The overall capacity of projects implemented by Praxair in Russia exceeds 3,500 tons of gaseous and liquid oxygen, nitrogen, hydrogen and argon per day.

President of Praxair Europe Todd Skare was quoted in the company's statement as saying that the Volga Azot purchase broadened sales opportunities of the company and created conditions for Praxair to become a leading industrial gases producer in Russia's south.

MRC

(bloomberg) -- OAO Lukoil (LKOH), Russia's biggest non- state company by market value, plans to boost investments in the West Qurna-2 oil field in Iraq to about USD2 billion this year.

Lukoil plans to carry out drilling and begin construction of a pipeline as it prepares the field for the start of production, the Moscow-based crude producer said in a corporate newsletter published on the website today.
The company invested more than USD200 million in the project last year, Grigory Volchek, a Moscow-based spokesman for the company's overseas unit, said by phone today.

Iraq approved the sale of Statoil ASA (STL)'s 18.75 percent in the field to Lukoil, Oil Minister Abdul Kareem al-Luaibi said March 7. Lukoil and Norway's state-controlled Statoil won the rights to develop the second phase of the West Qurna field in December 2009, agreeing to produce 1.8 million barrels a day from the field in southern Iraq about 40 miles (65 kilometers) northwest of Basra, for a fee of USD1.15 a barrel.
Volchek declined to comment on any agreement with Statoil.
MRC