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MOSCOW (MRC) -- OQ Chemicals (Monheim
am Rhein, Germany) is to increase the price of 2-ethylhexanoic acid (2-EHA) in
the US, effective 1 February 2021 or as contracts allow, citing supply and
demand, reported Chemweek.
The price
of 2-EHA will rise by 5 cents per pound, it says.
The company announced
price hikes in the Americas last week for neopentyl glycol and oxo
intermediates, citing increasing raw material costs and strong demand, also to
be implemented on 1 February.
As MRC wrote
before, in September 2020, OQ Chemicals entered into an agreement to license its
advanced proprietary technology for the production of ethylene and propylene
derivatives to Duqm Refinery and Petrochemicals Industries Company (DRPIC) in
Oman. DRPIC, a joint venture between Oman Oil Company and Kuwait International
Oil Company, is a planned grassroots petrochemical complex at Duqm, Oman. In
all, DRPIC awarded twelve license packages to international
licensors.
Ethylene and propylene are feedstocks for producing
polyethylene (PE) and polypropylene (PP).
According to MRC's DataScope report,
PE imports to Russia decreased in January-November 2020 by 17% year on year and
reached 569,900 tonnes. High density polyethylene (HDPE) accounted for the
greatest reduction in imports. At the same time, PP imports into Russia
increased by 21% year on year to about 202,000 tonnes in the first eleven months
of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase
in imports.
OQ Chemicals, formerly Oxea, is a global manufacturer of oxo
intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids,
specialty esters, and amines. These products are used for the production of
high-quality coatings, lubricants, cosmetics and pharmaceutical products,
flavours and fragrances, printing inks and plastics. OQ Chemicals is part of OQ,
an integrated energy company that delivers sustainability and business
excellence. OQ operates in 16 countries and covers the entire value chain from
exploration and production to the marketing and distribution of its
products. |
