SIBUR increased PE and PP prices

MOSCOW (MRC) - SIBUR Holding announced a price increase of polypropylene (PP) and low density polyethylene (LDPE) by Rb1,000-1,500/tonne, effective from 1, December, as per ICIS-MRC Price Report.

The reason for the price rise was weakening of the rouble against the dollar and higher prices in foreign markets.

All PP prices from SIBUR's subsidiaries - Tobolsk-Polymer, Tomskneftekhim, Neftekhimiya and Poliom were increased by RB1,500/tonne, compared with the level of the late November.

Prices for LDPE from Tomskneftekhim increased by Rb1,000/tonne.

As it was written earlier, Ufaorgsintez has also adjusted its PP and LDPE prices from 1, December.

SIBUR owns three pyrolysis units, two plants for the production of base polymers, producing low density polyethylene (LDPE) and polypropylene (PP), three factories for the production of synthetic rubber, producing basic and special rubbers and thermoplastic elastomers, and 13 enterprises producing a wide range of semi-finished products of plastics and organic synthesis, including polyethylene glycols, alcohols, BOPP films, expandable polystyrene, acrylates, and flexible PVC.

SIBUR's production capacities for base polymers made 995,000 tonnes/year, synthetic rubber - 678,000 tonnes/year, plastics and organic synthesis products - more than 1 mln tonnes/year on 31, December 2013.
SIBUR's revenues in 2013 were Rb269.8 bn, rate of EBITDA - Rb78.9 bn, profitability on EBITDA - 29.2%.
MRC

MOSCOW (MRC) -- The Indonesian government has named cement industry veteran Dwi Soetjipto as the new chief executive of state-run oil and gas company Pertamina, as per Upstreamonline.

Dwi took over the role of Friday, replacing former chief Karen Agustiawan who stepped aside in October for personal reasons.

Dwi’s appointment comes as President Joko Widodo and Indonesia's Corruption Eradication Commission look to clean up the country’s oil and gas sector which has previously been hit by graft scandals.

His first job in the new role will be to appoint new board members following the dismissal of the previous board by State Enterprises Minister Rini Soemarno.

"We want to speed up efforts to make Pertamina transparent - to make it into a world-class company - so today it was decided to dismiss all directors of Pertamina and appoint new directors," Reuters quoted Soemarno telling reporters on Friday.

Dwi’s appointment comes as Indonesia fights to reverse its declining oil production, with the former Opec member recently seeing output dip below 800,000 barrels per day - less than half its previous peak produciton.

As MRC wrote previously, in late 2013, Thailand’s PTT Global Chemical (PTTGC) signed a joint-venture agreement with Indonesian state-owned energy company Pertamina to set up a petrochemical complex with an investment of around USd4-5 billion (Bt127 billion to Bt158 billion). Both companies will have a 50:50 stake in this downstream-to-upstream project. They also signed a deal to market products from the project jointly.

Earlier, last summer, Pertamina signed an agreement to purchase petrochemical products from PTT Global Chemical. The agreement served as a pre-marketing strategy for Pertamina and PTT’s joint Indonesian petrochemical business. Under the agreement, PTT will deliver at least 5,000 tonnes of polyethylene and polypropylene products each month to Pertamina for sale in Indonesia. The shipments under this agreement started in September, 2014.

Pertamina is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was created in August 1968 by the merger of Pertamin (established 1961) and Permina (established 1957). Pertamina is the world's largest producer and exporter of liquefied natural gas (LNG).
MRC

MOSCOW (MRC) -- Hong Kong Petrochemical is likely to shut a polystyrene (PS) plant for maintenance turnaround, according to Apic-online.

A Polymerupdate source in Hong Kong informed that the plant is likely to be shut in Q1, 2015.

Located in Yuen Long industrial estate, Hong Kong, the plant has a production capacity of 140,000 mt/year.

As MRC reported previously, Hong Kong Petrochemical shut down its PS plant in Hong Kong informed for a 10-day maintenance turnaround on 10 February, 2014. Located in Yuen Long Industrial Estate, Hong Kong, the plant has a high-impact polystyrene (HIPS) and general purpose polystyrene (GPPS) capacity of 70,000 mt/year each.

Besides, in September 2014, Styron Hong Kong, an affiliate of Styron, the global materials company and manufacturer of plastics, latex and rubber, shut down its PS plant in Hong Kong for a one-month maintenance turnaround. Located in Hong Kong, the plant has a production capacity of 200,000 mt/year.
MRC

MOSCOW (MRC) -- Taiwan Styrene Monomer Corp (TSMC) is in plans to undertake a maintenance turnaround at its styrene monomer (SM) plant, as per Apic-online.

A Polymerupdate source in Taiwan informed that the plant is planned to be shut in Q3, 2015. It is likely to remain off-stream for around one month.

Located at Linyuan in Kaohsiung, Taiwan, the plant has a production capacity of 180,000 mt/year.

As MRC informed previously, TSMC has extended the shutdown at its SM plant in Taiwan by another two weeks. It was shut on October 1, 2014 owing to technical issues. Located at in Yuan in Taiwan, the plant has a production capacity of 160,000 mt/year.

Besides, Styrindo Mono Indonesia (SMI) shut down its No.1 styrene monomer plant for maintenance turnaround in H2 November 2014. The plant is slated to be shut for around one month. Located in Merak, Indonesia, the plant has a production capacity of 100,000 mt/year.
MRC

MOSCOW (MRC) - Albemarle Corporation has announced that it plans to increase production capabilities of its curatives products at its facility in Pasadena, TX, USA, reported GV.

The capacity investment will support the company's Ethacure 100 liquid curative product for application in polyureas, urethanes and epoxies.

Albemarle's Ethacure 100 curatives are curing agents and chain extenders for polyurethane and polyurea elastomers, as well as epoxy resins, particularly in reaction injection moulding and spray applications. According to the manufacturer, these diamine curatives allow for adjustable reaction time and substantially reduce dust exposure while providing processing advantages and improved final product properties.

"We are excited to announce our plans for increased production at a robust production site," said Chris Knight, Albemarle's vice president, Specialty Chemicals. "This expansion will allow Albemarle to meet the needs of our customers by continuing to provide high quality products and customer service and will strengthen our position as a leading supplier in the curatives industry."

Production in the expanded facility is expected in 2015.

As MRC informed before, Albemarle and ICL have recently entered into an agreement to establish a manufacturing joint venture for the production of ICL's FR-122P polymeric flame retardant and Albemarle's GreenCrest polymeric flame retardant.

These flame retardants are designed to replace hexabromocyclododecane (HBCD). HBCD has been the leading flame retardant used in expanded (EPS) and extruded (XPS) polystyrene foam applications, but is being phased out in the European Union (EU), Japan and other countries. The joint venture and its partners will own and operate a 2,400-tpy Netherlands plant, which is currently operating, and a 10,000-tpy Israel plant, which is scheduled to start operations in the fourth quarter of 2014.

Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer, and marketer of highly-engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services.
MRC