Icis
en
MOSCOW (MRC) -- Ukraine's polypropylene (PP) imports totalled about 111,200 tonnes in the first ten months of the year, up 11% year on year. Demand for all PP grades increased, as per MRC DataScope.
October PP imports into Ukraine rose to 13,500 tonnes, compared with 11,000 tonnes in September; the main increase accounted for the supply of homopolymer PP. Overall imports of propylene polymers reached 111,200 tonnes in January-October 2018, compared to 100,500 tonnes a year earlier. Demand for all PP grades increased, but PP block copolymers accounted for the greatest growth.
The structure of PP imports by grades looked the following way over the stated period.
October imports of homopolymers of propylene to the Ukrainian market rose to 10,400 tonnes against 8,500 tonnes a month earlier, local companies increased the volume of purchases of homopolymer PP raffia in Saudi Arabia. Overall shipments of homopolymer PP reached 84,200 tonnes in the first ten months of 2018 versus 76,600 tonnes a year earlier.
Last month's imports of block propylene copolymers (PP block copolymers) were 1,300 tonnes, compared to 1,100 tonnes in September.
Demand for injection moulding propylene copolymers improved from local companies. Imports of PP block copolymers into the country were about 11,100 tonnes in January-October, compared with about 10,800 tonnes year on year.
October imports of PP random copolymers exceeded 1,500 tonnes versus 1,200 tonnes a month earlier, demand for PP increased from pipes producers. Overall imports of PP random copolymer reached 13,900 tonnes in January-October 2018, whereas this figure was 11,300 tonnes a year earlier.
Ukraine's imports of other propylene copolymers for the period were about 2,000 tonnes in the first ten months of the year.
MRC
PP imports to Ukraine increased by 11% in January-October
Oxea declares force majeure for individual product groups
On the night of Nov. 18, 2018, the synthesis gas production of the site partner Air Liquide at the Oxea site in Oberhausen was disrupted. The affected plant was shut down automatically, people or the environment were not harmed.
Air Liquide produces technical gases in Oberhausen, including synthesis gas, which is supplied as raw materials to Oxea for further processing at the site.
Oxea is currently unable to provide more detailed information on the duration of the situation. The company has already informed its customers and will keep them informed about further developments and the ability to deliver.
MRC
Mexico next leader puts flagship refinery project up for vote
MOSCOW (MRC) -- Mexican President-elect Andres Manuel Lopez Obrador will scrap his own flagship infrastructure project to build a new crude refinery if it is not supported in a referendum this weekend, a top adviser said, as per Hydrocarbonprocessing.
Leftist Lopez Obrador, who takes office on Dec. 1, is putting 10 campaign promises, including a railway line in southern Mexico and cash transfer plans to the young and elderly, up for vote in an informal public consultation on Nov. 24-25.
Rocio Nahle, who is set to assume the post of energy minister once Lopez Obrador takes office on Dec. 1, said the new government would heed results on the proposed refinery, which is planned to be built in the southern state of Tabasco.
“If the people say no, we’re going to abide by what the people say,” Nahle told reporters. In September, Lopez Obrador said the refinery would cost around $8 billion. Nahle said in a newspaper interview that investments in the first year would be USD2.5 billion.
An online poll of 1,094 people by Consulta Mitofsky taken Nov. 15-18 showed 69 percent of respondents backed the refinery. After holding another informal referendum that drew only around 1 percent of Mexican voters late last month, Lopez Obrador said he would cancel a partly built airport for the Mexican capital, which hit the peso currency.
Opposition politicians have criticized the consultations, which are being staffed by members of Lopez Obrador’s party, for lacking democratic controls. Lopez Obrador has pledged that future referendums will be run by Mexico’s electoral institute.
Lopez Obrador has promised to build a new refinery and overhaul existing plants to boost gasoline production and reduce crude exports.
Last month, credit rating agency Fitch put a negative outlook on the debt of state oil company Pemex, citing Lopez Obrador’s plans. On Nov. 8, the International Monetary Fund said that Pemex should improve its financial position before it invests in building new refineries.
Lopez Obrador’s team aims to get the new refinery operational within three years and increase output at Mexico’s six plants, which are currently operating at around 40 percent capacity. “We need to invest,” Nahle said.
MRC
GAIL halts production at HDPE/LLDPE swing plant
MOSCOW (MRC) -- Gas Authority of India Ltd (GAIL) has shut its high density polyethylene / linear low density polyethylene (HDPE/LLDPE) swing plant at Pata-2 complex, as per Apic-online.
A Polymerupdate source in India informed that the company has started maintenance turnaround at the plant on November 15, 2018. The plant is likely to remain off-line for around 2-3 weeks.
Located at Pata-2 complex in Uttar Pradesh, the swing plant has a production capacity of 400,000 mt/year.
As MRC informed earlier, GAIL India plans to import ethane from countries including the US, for its upcoming USD5 billion joint-venture Andhra Pradesh petrochemical plant. GAIL is seeking 1.3 million mt/year of ethane for 15 years for its JV ethane cracker with India's Hindustan Petroleum Corp Ltd (HPCL), located on the east coast of India beginning 2022.
Gas Authority of India Limited (GAIL) is the largest state-owned natural gas processing and distribution company in India. It is headquartered in New Delhi. It has the following business segments: natural gas, liquid hydrocarbon, liquefied petroleum gas transmission, petrochemicals, city gas distribution, exploration and production, GAILTEL and electricity generation.
MRC
Saudi Aramco says bonds issuance on table for SABIC deal, to make needed disclosures
MOSCOW (MRC) -- Saudi Aramco said that all funding options, including the issuance of bonds, are being considered for its potential acquisition of a stake in petrochemicals firm SABIC, and that it would make related disclosures when it is appropriate to do so, reported Reuters.
"The company is actively pursuing a strategy of enhancing its portfolio by investing further into downstream and the petrochemical sector in particular. This includes discussions underway with the Public Investment Fund regarding the potential acquisition of a strategic interest in SABIC," Aramco said in a statement to Reuters.
"All funding options, including the issuance of bonds, are being examined. The company will make any related disclosures as and when it is appropriate to do so."
The statement came after the Wall Street Journal reported this week that Aramco no longer plans to launch what would have been one of the world’s largest-ever corporate-bond sales to fund its acquisition of a stake in Saudi Basic Industries.
As MRC informed before, Saudi Aramco’s potential acquisition of a stake in petrochemicals maker SABIC would affect the timeframe of its own planned initial public offering, the firm’s chief executive, Amin Nasser, said in a TV interview in late July 2018.
Saudi Aramco is an integrated oil and chemicals company, a global leader in hydrocarbon production, refining processes and distribution, as well as one of the largest global oil exporters. It manages proven reserves of crude oil and condensate estimated at 261.1bn barrels, and produces 9.54 million bbl daily. Headquartered in Dhahran, Saudi Arabia, the company employs over 61,000 staff in 77 countries.
Saudi Basic Industries Corporation (Sabic) ranks among the world's top petrochemical companies. The company is among the worldпїЅs market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
MRC