Trinseo raises January prices for PS, ABS, SAN and PC in Europe

MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, latex binders and synthetic rubber, and its affiliate companies in Europe have increased prices for all grades of polystyrene (PS), acrylonitrile-butadiene-styrne (ABS), acrylonitrile styrene copolymer and polycarbonate (PC).

Effective January 4, 2018, for PS and January 1, 2018, for other products or as existing contract terms allow, the contract and spot prices for the products listed below increased as follows:

- STYRON general purpose polystyrene grades (GPPS) - by EUR25 per metric ton;
- STYRON and STYRON A-TECH high impact polystyrene grades (HIPS) - by EUR30 per metric ton;
- MAGNUM ABS resins - by EUR30 per metric ton;
- TYRIL SAN resins - by EUR25 per metric ton;
- CALIBRE PC resins - by EUR250 per metric ton.

As MRC informed before, Trinseo last raised its contract and spot prices for all PS, ABS, SAN and PC grades in Europe effective 1 December, 2017, or as existing contract terms allowed, as follows:

- STYRON GPPS - by EUR95 per metric ton;
- STYRON and STYRON A-TECH HIPS - by EUR95 per metric ton;
- CALIBRE PC resins - by EUR200 per metric ton;
- MAGNUM ABS resins - by EUR60 per metric ton;
- TYRIL SAN resins - by EUR85 per metric ton.

Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD3.7 billion in net sales in 2016, with 15 manufacturing sites around the world, and nearly 2,200 employees.
MRC

MOSCOW (MRC) -- Iraq signed a memorandum of understanding with BP on Thursday to boost production capacity at its northern Kirkuk oilfields, the country's oil ministry said in a statement. The oilfields were taken back under Baghdad's control last October after Iraqi government forces dislodged Kurdish fighters from the area, reported Reuters.

Oil Minister Jabar al-Luaibi and BP's president for the Middle East region, Michael Townshend, attended the signing ceremony at the Kirkuk office of the Iraqi state-run North Oil Company, which operates the fields, the ministry said.

The agreement provides for BP to boost Kirkuk's output capacity to 750,000 barrels per day (bpd), more than twice existing capacity, the statement added, citing Townshend. "The company will carry out seismic survey operations and and studies to develop the fields," the ministry statement quoted the BP executive as saying. Luaibi initiated the talks with BP in October, only days after the Kurdish fighters were driven from the area.

Oil exports from the field, transported by pipeline to Turkey, halted after the Iraqi military operation, which was conducted in retaliation against an independence referendum held on Sept. 25 by the semi-autonomous Kurdistan Regional Government (KRG). Iraq plans to start trucking crude from Kirkuk to Iran at the end of the month.

BP had agreed in 2013 to help Baghdad to halt a huge decline in output from Kirkuk. The KRG took control of the Kirkuk region in 2014, when the Iraqi army collapsed in the face of Islamic State's sweeping advance in northern and western Iraq. The Kurdish move prevented the fields from falling into the hands of the militants.

Iraq is the Organisation of Petroleum Exporting Countries' second-largest producer behind Saudi Arabia. Luaibi said on Saturday that Iraq oil output capacity is nearing 5 million bpd. However, it is currently producing 4.4 million bpd in compliance with an agreement between oil exporters to support crude prices.

BP is one of the world's leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items.
MRC

MOSCOW (MRC) - Northern Alberta Institute of Technology (NAIT) is receiving almost USD600,000 from Western Economic Diversification Canada and USD200,000 from Canada's Oil Sands Innovation Alliance (COSIA) to design and construct a high temperature, high pressure testing unit that Western Canadian companies will use to implement water technologies in oil sands, said Hydrocarbonprocessing.

The funding was announced today by Randy Boissonnault, Member of Parliament for Edmonton Centre and Special Advisor to the Prime Minister on LGBTQ2 issues, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada.

Today's investment will help establish a Membrane Technology Assessment Program (MTAP) at NAIT's Centre for Oil Sands Sustainability to support the design and construction of a membrane technology unit. The unit will test membrane and other water treatment technologies designed by companies in controlled conditions that simulate oil sands in situ operations.

The testing unit will help develop 12 industrial water technologies used in oil sands, and train and develop 12 highly qualified people. This will also enable at least six western Canadian oil companies the opportunity to test their technologies and more quickly implement innovations that create environmental and economic benefits.

A focus on clean technology, innovation and growth is a core element of the Pan-Canadian Framework on Clean Growth and Climate Change. Through the Framework, Canada will focus on creating and maintaining globally competitive Canadian businesses as we transition to a low-carbon economy. Canada's Innovation Agenda promotes clean growth, good jobs and higher living standards for the middle class. The investments announced today are an example of this vision in action.

"This membrane testing unit continues a tradition of leading-edge applied research with industry partners, helping them to become more sustainable. I would like to thank the Government of Canada and Canada's Oil Sands Innovation Alliance for supporting this project." - Dr. Glenn Feltham, President and CEO, NAIT
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MOSCOW (MRC) - Saudi Arabia has shortlisted New York, London and Hong Kong - singly or in a combination of two or even all three - for the international portion of the listing of national oil company Aramco, two sources with knowledge of the discussions said, said Hydrocarbonprocessing.

The initial public offering (IPO) will also include the Saudi stock exchange, Tadawul, and is still set for late 2018, the sources said. The shortlist means Tokyo, Singapore and Toronto are no longer in the running for what is likely to be the world's biggest IPO. Riyadh could raise as much as USD100 billion in the sale of up to 5 percent of Aramco if it achieves a projected USD2 trillion valuation. A final decision has yet to be made by Saudi Crown Prince Mohammad bin Salman, who oversees the kingdom's economic and oil policies, the sources said.

One of the sources said a phased listing was being considered, with the local listing occurring first, followed by an international listing or listings at a later stage. The second source said it was possible that Aramco would be listed on all three international exchanges, as well as the Saudi bourse, but cautioned that no decision had been taken.

The first source said discussions involved listing on at least two of the three venues. "As far as Aramco goes, late 2018 remains the objective and the plan and everything is moving to deliver that," the first source said. Saudi Aramco said in response to a Reuters request for comment: "A range of listing options continue to be held under active review. However, no decision has been taken."

The Aramco listing is a centrepiece of Vision 2030, an ambitious reform plan championed by Prince Mohammad to reduce the dependence of the Saudi economy on oil.
MRC

MOSCOW (MRC) -- Asahimas, part of Asahi Glass, has taken its No. 2 vinyl chloride monomer (VCM) unit off-stream for maintenance and debottlenecking exercise, as per Apic-online.

A Polymerupdate source in Indonesia informed that the company has commenced maintenance along with the capacity expansion at the plant on January 15, 2018. The plant is slated to remain off-line for a period of around 7 weeks.

Following the expansion at the capacity will be increased by 100,000 MT to 350,000 mt/year.

Located in Anyer, Indonesia, the No.2 VCM plant currently has a production capacity of 250,000 mt/year.

As MRC reported earlier, in mid-February 2016, Asahi Glass began shipping polyvinyl chloride (PVC) from the Anyer plant at Cilegon, Indonesia, following completion of an expansion program at PT Asahimas Chemical.

Asahi Glass Co., Ltd., more commonly known as AGC, is a global glass manufacturing company, headquartered in Tokyo. It is one of the core Mitsubishi companies.

PT Asahimas Chemical is owned 52.5% by Asahi Glass, 11.5% by Mitsubishi Corp. and 18% each by the local Rodamas and Ableman Finance.
MRC