Kuwait Aromatics declares FM on January PX – customers

07 December 2010 01:34  [Source: ICIS news]

SINGAPORE (ICIS)--Kuwait Aromatics (KARO) has declared force majeure (FM) on paraxylene (PX) supplies from its 820,000 tonne/year Shuaiba unit due to a “sudden glitch”, customers of the Middle Eastern producer said on Tuesday.

“They have already completed December deliveries. The FM is for January supplies,” said one northeast Asian end-user.

KARO officials could not be immediately reached for comment on the FM but traders told ICIS the company's plant had been shut since 3 December after experiencing a utility issue.

KARO is a joint venture (JV) between Kuwait’s Petrochemical Industries Company (PIC), Kuwait National Petroleum Company (KNPC) and Qurain Petrochemical Industries Company (QPIC).

PIC and KNPC each has a 40% stake in the JV, while QPIC owns the remaining 20%.

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By: Bohan Loh
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