SABIC delegation launches SABIC Morocco Headquarters

(SABIC) -- Saudi Basic Industries Corporation (SABIC), along with a high-level delegation, celebrated the inauguration of the SABIC Morocco Headquarters in Rabat, Morocco, on October 25, 2010.

The inauguration of SABIC Morocco Headquarters, the company's regional center for the company's business in North and West Africa, reflects the growing importance of the polymers, chemicals and fertilizers regional and global markets.

SABIC has served the Moroccan and African markets with its products for a quarter of a century.

The enhanced presence in Morocco also ties into the ongoing industrial transformation taking place in the country, including new companies serving the automotive industry sector≈a number that is expected to reach 200 companies that will benefit from SABIC's Innovative Plastics products and engineering solutions.

In North and West Africa SABIC looks forward to better serving the needs of customers in the region with increased sales of chemicals, polymers, fertilizers and engineering thermoplastics.

MRC

(ICIS) -- State-controlled oil and gas player PetroChina may book better earnings in the December quarter, benefitting from the recent hike in domestic fuel prices amid continued strength in international crude values, analysts said on Thursday.

PetroChina had a 12.5% jump in third-quarter net profit to yuan (CNY) 34.7bn ($5.21bn) as sales surged 36% to CNY363bn because prices across all its products improved, the company said in a filing on the Hong Kong Stock Exchange late on Wednesday.


Crude consumption was expected to spike in November, when China's southern city of Guangzhou in Guangdong province would host the 2010 Asian Games. The month also marks the start of the winter season in the country.

Crude may continue its uptrend for the rest of the year, which would be positive for PetroChina's exploration and production sector, said Grace Liu, a Shenzhen-based analyst.

In the first three quarters of 2010, the company processed 657m barrels of crude oil, representing an increase of 8.3% from the same period last year, while its ethylene output surged 30.5% year on year to 2.67m tonnes.

MRC

(Styron) -- Styron announced that it had assumed ownership of the 50 percent share that was formerly owned by The Dow Chemical Company in joint venture Sumitomo Dow Limited. The announcement was made as part of Styron's presence at K2010, Dusseldorf, Germany.

The company is now a 50:50 joint venture owned equally by Sumitomo Chemical and Styron. The transaction closed on September 24, and financial terms were not disclosed. The transaction is consistent with Dow's divestiture of Styron to Bain Capital Partners in June 2010.

The joint venture will operate under a new name that will be announced around the end of this year, and will continue to be headquartered in Tokyo.

The JV will continue to serve its customers and market polycarbonate products under the trademarks CALIBRE polycarbonate resins and SD POLYCA resins.

MRC

Traditionally EPS supplies to Ukraine are done from Poland and China. In September the supplies geography shifted to China, whose total EPS supplies volume made up 5,7 KT summarizing the nine months. The imports of the Polish EPS during January-September 2010 made up 5,4 KT.

For more detailed information on the Ukrainian polystyrene market, see DataScope Report.

MRC

(Marketwire) -- Finacity Corporation announced that it facilitated a cross-border trade receivable funding program for INEOS NOVA, LLC.

INEOS NOVA headquartered in Channahon, Illinois is a world-scale, globally competitive producer of styrene, polystyrene and expandable polystyrene.

Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity is located in the USA and Europe.

MRC