29 May 2008 15:28 [Source: ICIS news]
LONDON (ICIS news)--A strike at BP’s Geel, Belgium, plant which led to force majeure being declared on purified terephthalic acid (PTA) at the site has ended, the company said on Thursday.
From midnight, PTA allocation was raised to 70% and BP was hopeful it could get its units up and running over the weekend.
However, the fact they had been down for a couple of weeks meant nothing could be certain, a company source added.
The industrial action resulted in force majeure being declared on Tuesday 13 May and a 40% allocation on all PTA May deliveries was consequently put in place.
It was not yet clear when the force majeure would be lifted, with the focus being placed on ensuring operations ran smoothly following the workers return, the source said.
“We will need to review the situation again," added the source.
The plant has a nameplate capacity of 1m tonnes/year. BP is Europe's largest PTA producer.
BP's declaration came shortly after Spanish producer Interquisa declared force majeure on PTA at its San Roque site following an issue with the plant’s compressors.
Both incidents had caused contract discussions in the PTA market to stall, market observers said, with many unsure of how the situation would unfold.
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