03 August 2010 11:51 [Source: ICIS news]
LONDON (ICIS)--Repsol’s Sines cracker in Portugal restarted over the weekend and is producing on-spec ethylene (C2), a company source said on Tuesday.
"[It has] just begun to produce ethylene on spec. We're waiting for the confirmation to lift the force majeure,” the source said.
The 415,000 tonne/year ethylene cracker was forced to close following a fire in the complex’s terminal on 27 July.
The outage had been expected to last just a few days but the company declared force majeure on ethylene and pygas supplies on 29 July.
The cracker has the capacity to produce 200,000 tonnes/year of propylene, according to ICIS data.
Ethylene supply was tight in Europe as unplanned production problems and heat constraints took their toll amid healthy demand.
Spot prices were currently being pegged at around contract plus; the August contract recently settled at €940/tonne ($1,237/tonne) FD (free delivered) NWE (northwest Europe).
Conversely, propylene supply was balanced to long as derivative production problems have outweighed the cracker issues. Spot polymer grade prices were being assessed in the low €800s/tonne CIF (cost, insurance, freight) NWE. August propylene also settled at €940/tonne FD NWE.
($1 = €0.76)
For more on ethylene visit ICIS chemical intelligence
For more on Repsol visit ICIS company intelligence
Please visit the complete ICIS plants and projects database
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|