BASF supports Japan disaster victims

(BASF) -- The Board of Executive Directors of BASF SE has decided as a first step to contribute EUR 500.000 to the Central Community Chest of Japan as immediate aid to victims of the earthquake and tsunami in Japan. This donation will be provided by the BASF Social Foundation. Additionally, the company will start a global donation campaign among its employees and will fully match each euro contributed by the employees one-to-one.

All of the approximately 1.700 BASF employees in Japan are safe and taken care of, including local employees, international delegates and business travelers. BASF has recommended that employees in strongly affected areas move to less affected regions, and is providing logistical support. The company will continue to provide assistance to employees whose housing was destroyed or damaged by the earthquake or tsunami. Especially for BASF sites in the northeast of Japan, the company is helping to provide basic temporary support such as food, water, batteries, and lodging to those with damaged homes.

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(ICIS) -- Global crude futures rose sharply on Monday, gaining more than USD 2/bbl (EUR 1.05/bbl) before easing slightly, after the US and other western governments began a military offensive against Libya, fuelling fears of further supply disruptions in the region. Worries over protests, which are calling for governmental and political reform in key oil producer Saudi Arabia, Yemen and Syria, also fuelled the hike in oil futures.

At 05:39 GMT, May Brent on London's ICE futures was trading at USD 115.60/bbl, up USD 1.67/bbl on the previous close, after earlier rising to a session high of USD 116.22/bbl.

April NYMEX light-sweet crude futures were trading at USD 102.95/bbl, up by USD 1.88/bbl from the previous close, after previously climbing to an intra-day high of USD 103.35/bbl. US President Barack Obama on Saturday authorised a military campaign against Libya, but said that the US would not send ground forces to Libya, according to media reports.

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(Braskem) -- Braskem attained a new level of competitiveness and scale with the acquisition, in early 2010, of Quattor and the polypropylene assets of the U.S. company Sunoco Chemicals (today Braskem America). These strategic transactions, which led Brazil to have the leading producer of thermoplastic resins in the Americas and the eight-largest resin producer in the world, are already beginning to be reflected in the company's performance. In 2010, Braskem recorded EBITDA (earnings before interest, tax, depreciation and amortization) of R$4.1 billion, for growth of 27% from 2009. In U.S. dollar, EBITDA grew by 41% from 2009 to USD 2.3 billion.

This performance was driven by the significant improvement in operational efficiency at Quattor, whose EBITDA doubled in the period under Braskem's management, and by the average sales growth in the domestic market, which was supported by the solid performance of the Brazilian economy, with GDP growth of 7.5% in the period, which in turn fueled domestic demand for resins by 15%. The recovery in international prices for thermoplastic resins and basic petrochemicals, following the improvement in the global economic scenario in the second half of the year, also had a positive impact on the results.

"The year 2010 marked the start of a new cycle in the company's trajectory that was brought about by the various strategic achievements in the period, especially the merger of Quattor, which represents a decisive step forward in strengthening the country's petrochemical and plastics production chain," said Braskem CEO Carlos Fadigas. "On the international front, the acquisition in the United States launched the international expansion of our operations, which was accompanied by advances in the integrated polyethylene project in Mexico. Moreover, with the inauguration of Green PE production in the second half of the year, Braskem became the global leader in biopolymers," added Fadigas.

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(Arabian Oil and Gas) -- Aramco Overseas Company B.V., a subsidiary of Saudi Aramco, and PetroChina Company Limited, a subsidiary of CNPC, on March 17 signed a Memorandum of Understanding (MoU) related to the planned development of a 10 million mta (200.000 barrels per day) grassroots full conversion refinery in Yunnan Province in the People's Republic of China.

The proposed refinery will be designed to process 200.000 bpd of Arabian crude oil and will produce high-quality refined products, such as ultra low-sulfur gasoline and diesel that meet current and future China products specifications.

The project represents an opportunity for Saudi Aramco to partner with CNPC to support growing demand for high quality refined products and capture an investment opportunity in China's promising refining industry. Additionally, it enhances a strategic partnership of close cooperation between a major producer and a major consumer of hydrocarbons while also presenting an opportunity for additional energy security and increased industrialisation in the inner part of China.

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(Plastemart) -- Korea Kumho Petrochemical Co. has inked an agreement for a 50:50 butadiene JV with JG Summit Petrochemical Corp. (JGSPC) of the Philippines. The JV will be located in Bantangas, about 110 kilometers south of Manila.

Kumho Petrochemical Co., Ltd. is a Korea-based company engaged in the manufacturing of synthetic rubbers and resins. The Company mainly provides three categorized products: synthetic rubber, synthetic resins and fine chemicals. Its synthetic rubber products include styrene butadiene rubbers (SBRs), acrylonitrile butadiene rubbers, styrene butadiene latexes, polybutadiene rubbers and others used for tires, shoes, belts and industrial rubber products. Its synthetic resin products, including polystyrene (PS), acrylonitrile butadiene styrene (ABS), expandable polystyrene (EPS), polypropylene glycol (PPG) and other products, are used in electrical and electronic products, automobiles, cosmetic cases, sporting goods and other products.

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