Japan nuclear crisis could increase demand for US natgas

(ICIS) -- The ongoing nuclear power disaster in Japan's tsunami-devastated north could in the long term increase US natural gas demand, creating feedstock issues for US petrochemical producers, a top industry official said on Sunday.

Jim Cooper, vice president for petrochemicals at the National Petrochemical & Refiners Association (NPRA), said that the unfolding crisis at the Fukushima Daiichi nuclear power complex could chill recently improving support for a new US nuclear power expansion programme.

Citing the Japan nuclear power plant crisis, Cooper said that ⌠there is a chance that this could push more US utilities to natural gas rather than a nuclear option, and that is a concern.

US petrochemical producers and downstream chemical makers are heavily dependent on natural gas as a feedstock, and chemical companies along with a broad range of other US manufacturers also depend in large measure on natgas as an energy fuel. Anything that increases demand on domestic US natural gas could in turn raise availability and pricing issues for companies that use natgas as a feedstock.

MRC

(BP) -- BP announced today that an arbitral tribunal has ruled that the interim injunction issued to prevent BP's proposed transaction with Rosneft, which includes Arctic exploration and a share swap transaction, from proceeding should continue. BP will now apply for a determination whether the share swap may proceed on its own.

BP said it looks forward to finding a way to resolve its differences with its Russian partners to allow these important Russian Arctic developments to proceed in future.

BP has a long history as a leader in oil and gas exploration and the development of new technologies. BP intends to continue in that role for decades to come as the world looks to satisfy its increasing demand for secure, affordable energy supplies. BP has the scale and experience to use these new technologies to develop frontiers like the Russian Arctic.

MRC

(Evonik) -- Evonik Industries' new VESTAMID HTplus M1533 is a 30% glass fiber-reinforced compound that contains an internal lubricant. Reducing friction and minimizing abrasion, the polyphthalamide (PPA) amplifies the durability of gearbox components and reduces the energy consumed in the application. The material extends the repair intervals, too, because gearbox components made from VESTAMID HTplus M1533 are self-lubricating and do not need to be greased with additional additives.

The new compound can be used in gear wheels, friction bearings, and ball bearing cages, among other areas. VESTAMID HTplus M1533 is available in two colors: natural and black. With this new addition to its product range, Evonik is also responding to rising global demand for PPA, a high-performance polymer.

Evonik is the creative industrial group from Germany. Evonik is active in over 100 countries around the world. In fiscal 2010 more than 34.000 employees generated sales of around EUR 13.3 bln and an operating profit (EBIDA) of about EUR 2.4 bln.

MRC

(BorsodChem) -- With effect as of April 1st, 2011, BorsodChem will be increasing its prices for toluene diisocyanate (TDI) in Europe by EUR 100 per metric ton, in Export by USD 200 per metric ton.


The price adjustments are needed to respond to the significant rise in raw materials and energy costs. Further upwards adjustments can be expected given the upstream costs evolution.

MRC

(BASF) -- BASF announced its integration plans for Cognis. BASF expects to achieve an additional EBIT of EUR 275 mln (10.6% of Cognis' 2009 net sales) through the integration. This consists of growth synergy targets to generate an additional EBIT of EUR135 mln by 2015 and cost synergies of around EUR 140 mln which will be achieved by the end of 2013.

To achieve the growth targets 230 additional jobs will be created worldwide, mainly in the Care Chemicals division. At the same time, BASF plans to reduce 680 positions due to overlaps in functional and administrative units as well as measures to improve efficiency. This means an overall reduction of 450 positions in the BASF Group, most of which will be realized by the end of 2012. The employees will be offered a suitable position within BASF whenever possible.

By the end of 2013, BASF expects one-time integration costs of around EUR 290 mln, excluding an inventory step-up of EUR 120 mln in 2010/2011. The integration will already be accretive as of 2012, less than two years after the acquisition.

MRC