ICIS - Search Articles by Date : July 15 2002 - July 21 2002

New Projects Summary
Reported in ECN on 24 June and 1 July 2002 more
(19 July 2002 12:26)

Market trends: Ethylene drops as supply improves
Ethylene prices dipped to $440-450/tonne cif NWE with Middle East material fixed within the price range. more
(15 July 2002 10:10)

Global roundup
Mitsubishi, Asahi and Idemitsu agree to form a PS joint venture during 28 June - 4 July. In the week 5-11 July, Ertisa Phenol decides to suspend its.... more
(16 July 2002 09:35)

QVC gets nod for chloralkali, EDC and VCM study
The board of directors of Qatar Vinyl Corp (QVC) has given approval for a pre-feasibility study into expanding the company's chloralkali, ethylene.... more
(15 July 2002 16:06)

Tight supplies boost C3 prices
Tight supplies helped boost spot propylene prices to US$460/tonne fob Korea last week, up from US$375-380/tonne fob Korea in mid-June. more
(16 July 2002 09:39)

Market trends: Benzene softens
Chinese buying interest lifts PX prices by US$10/tonne. But OX prices slip despite a reduction in operating rates by some NEA producers more
(15 July 2002 13:50)

Shandong group plans PTA unit
Shandong Zibo Wanjie Industrial Group plans to build a 530 000 tonne/year purified terephthalic acid (PTA) plant at the recently-inaugurated Qilu.... more
(15 July 2002 14:01)

Mitsui-Sumitomo agro merger delayed
A proposed merger of the fertiliser sales subsidiaries of Mitsui & Co and Sumitomo Corp in Japan has been indefinitely delayed due to difficulties in.... more
(15 July 2002 15:11)

Ube revives talks, will not shut PE unit
Ube Industries has revived talks to form a PE alliance with smaller players in Chiba, Japan. more
(15 July 2002 15:14)

Reliance to import naphtha and end IPCLpact with IOC
Reliance Industries Ltd (RIL) has terminated Indian Petrochemicals Corp Ltd's (IPCL) naphtha supply agreement with Indian Oil Corp (IOC) and is.... more
(15 July 2002 15:10)

US$10 rise fails to cheer styrene sellers
A US$10/tonne price hike failed to bring cheer to styrene producers last week, who insisted that their margins had been virtually wiped out by high.... more
(16 July 2002 09:24)

Tuntex studies new PTA unit/expansion
Tuntex Petrochemical (Thailand) is conducting a feasibility study on either building a new purified terephthalic acid (PTA) plant in Thailand or.... more
(16 July 2002 09:23)

Kvaerner to carry out all Asian E&D work from Mumbai
Kvaerner is carrying out all its engineering design (E&D) work for Asian projects from its office in Mumbai, India more
(19 July 2002 12:05)

S Korea seeks joint antidumping deal
South Korea is hoping to reach an agreement with Japan to eliminate antidumping actions against petrochemical exporters from both countries more
(19 July 2002 12:05)

Piat rallies support for cuts to new pollution tax
The Petrochemical Industry Association of Taiwan (Piat) is lobbying members of the Legislative Yuan to gain support for its demand for reductions in.... more
(19 July 2002 12:05)

IOC starts study on cracker + derivatives
Indian Oil Corp (IOC) is carrying out a feasibility study into an 800 000-1m tonne/ year cracker and derivatives project more
(19 July 2002 12:05)

Asahimas mulls PVC expansion
Asahimas Chemical is considering expanding its PVC capacity in Indonesia by adding a 120 000 tonne/year line at its fully integrated complex in.... more
(19 July 2002 12:05)

End-Aug deadline for sale of BP's BPCstake
Petronas and BP Chemicals have set a new deadline of end-August for conclusion of negotiations for the sale of BP's 38.5% in Bataan Polyethylene Corp.... more
(19 July 2002 12:05)

Asahimas expects 2002 sales to rise by 8.7%
Asahimas Chemical is forecasting an 8.7% rise in sales to US$250m in the year ending 31 December 2002 from US$230m in 2001 more
(19 July 2002 12:05)

Formosa wants stake in CPC
The Formosa Plastics Group (FPG) has confirmed that it wants to take a stake in Chinese Petroleum Corp (CPC) once its state-owned petrochemical rival.... more
(19 July 2002 12:05)

Mid-Aug deadline for C Asri debt plan
A long-deferred plan to restructure Chandra Asri's US$1.25bn debt, signed in June, is scheduled to take effect only in mid-August at the earliest more
(19 July 2002 12:05)

Higher yen a concern for producers
The strengthening of the yen to Yen115.6:US$1 last Wednesday - its highest level in 17 months - has evoked concerns more
(19 July 2002 12:05)

IDA/INA startup
Nan Ya Plastics has commissioned its 115 000 tonne/year isononanol (INA) and isodecanol (IDA) plant at the Formosa Plastic Group's No6 naphtha.... more
(19 July 2002 12:05)

Crunch time for C3s
As PP demand growth continues to surge, the problem for Asia will be sourcing and affording enough propylene, reports John Richardson more
(19 July 2002 12:05)

Hooked on naphtha
Naphtha will continue to dominate as the feedstock for crackers in Asia, due to severe limits on the viability of alternatives, reports John.... more
(19 July 2002 12:05)

No, not again.....please!
The second half of this year is likely to be dismal for the Asian olefins market after a poor first half, forecasts Rick Coles, vice-president of.... more
(19 July 2002 12:05)

Akzo Nobel starts up China MCA unit
Akzo Nobel has brought onstream its 25000 tonne/year monochloroacetic acid (MCA) plant in Taixing, in China's Jiangsu province. more
(19 July 2002 12:05)

Bright prospects for China PO
Propylene oxide (PO) producers are bullish on market prospects in China. The country has seen rapid growth in consumption of PO, driven by strong.... more
(19 July 2002 12:05)

C2 sellers cautious despite $50 rebound
Asian ethylene sellers were cautious last week even as prices rebounded by around US$40-50/tonne to US$400-410/tonne cfr Korea/Taiwan. more
(19 July 2002 12:05)

Benzene suppliers in rush to clear as derivatives soften
Asian benzene producers were in a rush to liquidate cargoes last week as they feared that prices would slip further more
(19 July 2002 12:05)

Market trends: A boost for toluene
Toluene edges up US$15-20/tonne from US buying interest. Market direction for xylenes is unclear, due to volatile energy prices and depressed.... more
(19 July 2002 12:05)

Market trends: Ethylene rebounds
Propylene markets remain firm with buying ideas rising to US$490-495, while tight availability pushes butadiene prices to US$620 more
(19 July 2002 12:05)

Anyang is building methylamine, DMF
Anyang Chemical is building a 20 000 tonne/year methylamine plant and a 2000 tonne/year dimethyl formamide (DMF) unit in Anyang, Henan, China more
(19 July 2002 12:05)

Sinopec's Baling to expand SBS
Sinopec subsidiary Baling Petrochemical plans to expand its styrene butadiene styrene (SBS) facility in Yueyang, Hunan, China, to 200 000 tonne/year more
(19 July 2002 12:05)

Make-up-your-mind time soon for RIL?
The pressure on Reliance Industries Ltd (RIL) to make fairly swift decisions on when and where it should expand its petrochemical capacities more
(19 July 2002 12:05)

Ningxia Fengyou starts fertiliser project
Ningxia Fengyou Chemical (NFC) has started building a 380 000 tonne/year ammonia and 700 000 tonne/year urea plant in Yinchuan, Ningxia, China. more
(19 July 2002 12:05)

TSM and Qingdao body sign MoU on EPS
Taiwan Styrene Monomer (TSM) last week signed an MoU with the office of the Qingdao Economic & Technological Development Zone more
(19 July 2002 12:05)

Global roundup
Good news from China as the government announced a higher-than-expected GDP growth of 7.8% in H1. Also in the week of 12-18 July, Bayer and SCAC.... more
(19 July 2002 12:05)

Asian spot C3 scarcity frustrates buyers
Asian spot propylene buyers were finding it extremely difficult to secure material last week as supplies have almost dried up. more
(19 July 2002 12:05)

PTA tumbles to $470 on Chinese demand
A protracted contraction in Chinese demand resulted in purified terephthalic acid (PTA) prices of US$470/tonne cfr China last week, a US$90-100/tonne.... more
(19 July 2002 12:05)

Shanxi Syn Rubber may shut CR plant
Shanxi Synthetic Rubber Group Corp may shut down its 25 000 tonne/year chloroprene rubber plant in Datong, Shanxi, China, when its joint venture 30.... more
(19 July 2002 12:05)

FPG is to sidestep China cracker ban
A senior Formosa Plastics Group (FPG) official has disclosed that the Taiwanese major intends to channel any investment in its 1m tonne/year China.... more
(19 July 2002 12:05)

Editor's Comment
On July 1, 1997, Hong Kong ceased being a dependent territory of the UK and became a special administrative region of China. more
(17 July 2002 14:00)

Outsourcing opportunities
Outsourcing in the pharmaceutical industry is expected to escalate in the coming years and fine chemical companies have been investing capacity in.... more
(17 July 2002 14:00)

A changing marketplace
Fine chemical manufacturers are responding to a range of fresh developments in the industry. Changes come in the form of a huge expansion in more.... more
(17 July 2002 14:00)

A bubble of growth
Analysis of the surfactants market in Southeast Asia shows an increasing demand for surfactants although the region is still feeling the effects of.... more
(17 July 2002 14:00)

Borouge has it wrapped
Borouge finds itself in a position to develop the film applications market in the Asia-Pacific. With its Borstar PE lines the company's ultimate aim.... more
(17 July 2002 14:00)

The value of valves
Emerson prides itself on its breakthrough technologies and aims to bring this expertise to the Asian markets more
(17 July 2002 14:00)

Transforming growth
Celebrating 200 years of operations this summer, DuPont knows a thing or two about sustaining a business, but what about sustainable growth? Here.... more
(17 July 2002 14:00)

Access all areas
Shell and BASF's joint venture SMPO plant in Singapore has successfully started up and, they say, will give them access to global markets from a.... more
(17 July 2002 14:00)