PTT plans to consolidate its petrochemical and refinery businesses

(Plastemart) -- Thailand's state-controlled company PTT plans to consolidate its petrochemical and refinery businesses, as per Reuters. The company seriously studies the merger plan, which should be finished in Q1-2011. Conclusion of the study will be followed by a legal process after which the new company should be set up in Q3-2011.

PTT chief executive Prasert Bunsumpun opines that consolidation may involve three companies that have operations in Rayong, probably in two phases. The merger is expected between IRPC, which operates Southeast Asia's biggest integrated petrochemical complex, and aromatics-based refiner PTT Aromatics and Refining.


MRC

(Arabian Oil and Gas) -- A clarion call for the Gulf petrochemical industry to stand up against anti-dumping practices was made on the second day of ArabPlast 2011 in Dubai. The call came from major Saudi Arabian petrochemicals company which serves more than 57 countries.

The company said that when the global market looks at the petrochemicals industry as a large economic body, the negotiation power of this industry on the global map would be more impactful.

NATPET also urged for higher deployment of local manpower in the petrochemicals sector, and called on universities and industry leaders to collaborate on preparing petrochemical specialists who could lead this rapidly growing industry in the Gulf.

MRC

(Arabian Oil and Gas) -- Saudi International Petrochemical Company (Sipchem) has awarded a contract for the engineering, design and construction of its Ethyl Acetate plant to eTEC Engineering & Construction Company, Korea under a lump sum turnkey (LSTK) basis, the company said in a statement published on the Saudi stock exchange (Tadawul).

The plant will produce Ethyl Acetate (EA) and Butyl Acetate (BA) with an annual production capacity of 100,000 tonnes per year in its industrial complex in Jubail Industrial City. This plant comes as part of Sipchem's growth in the downstream products sector, in full integration with its current products portfolio.

The Ethyl Acetate Plant is expected to satisfy all local needs in addition to meeting the demand of the international markets for EA and BA. The plant will be wholly owned by Sipchem.

MRC

(Arabian Oil and Gas) -- Cristal Global (Cristal), a subsidiary of Saudi Tasnee, announced that it will increase prices on all of its chloride rutile grade Tiona and Cristal titanium dioxide (TiO2) products sold in Latin America by up to US$200 per metric tonne in all countries across the region effective as of February 1st, 2011, or as permitted by contract. This price increase is in addition to previously announced price increases.

In November, the company said that it increased prices for all its TiO2 products in the Middle East and Africa by $200 per tonne.

Cristal Global is the world's second-largest producer of titanium dioxide and a producer of titanium chemicals. Saudi based Tasnee National controls 66% of the company. Cristal Global operates eight manufacturing plants in six countries on five continents. Cristal Global provides products and services for a variety of industries including coatings, polymers and pigments.

MRC

(Arabian Oil and Gas) -- Saudi Arabia Basic Industries Corporation (SABIC) has shut down its polypropylene plant at its subsidiary Saudi European Petrochemical Company (Ibn Zahr ) in Al-Jubail industrial city, on the eastern coast of the Kingdom.

⌠A problem with the catalyst the company uses caused the shutdown, a source close to the affiliate told ArabianOilandGas.com. ⌠The catalyst was developed by SABIC and is used at the Ibn Zahr affiliate, he added.

Ibn Zahr is one of the world's largest producers of MTBE with an annual capacity of 1.6 million metric tonnes and 640,000 mtpa of polypropylene.

Ibn Zahr was SABIC's first joint venture with European companies. SABIC owns 80% and the remaining percentage is equally owned by Ecofuel of Italy and the Arab Petroleum Investment Corporation (APICORP).

MRC