07 January 2011 09:19 [Source: ICIS news]
SINGAPORE (ICIS)--Oman Polypropylene restarted its 340,000 tonne/year polypropylene (PP) plant in Sohar on 26 December 2010 after it was shut in early November because of a feedstock shortage, a source close to the company said on Friday.
The producer delayed the plant’s start-up to January this year after experiencing a technical glitch, but managed to resume production earlier than expected, the source added.
Oman Polypropylene officials were not immediately available to comment.
Meanwhile, market players told ICIS that PP supply was expected to tighten further because of upcoming shutdowns in the Middle East, which would continue to exert upward pressure on prices.
Saudi Polyolefins would shut its 720,000 tonne/year PP facility at Al-Jubail in Saudi Arabia for scheduled maintenance in early February, while Petrochemical Industries Co (PIC) was planning to begin a turnaround at its 150,000 tonne/year PP plant at Shuaiba, Kuwait, in early March.
Saudi Arabia’s Petro Rabigh would later take its 700,000 tonne/year PP unit at Rabigh off line for a month-long turnaround, beginning in late April.
PP prices for raffia and injection were assessed at $1,410-1,440/tonne (€1,086-1,109/tonne) on Friday, up by $40/tonne from 24 December 2010, ICIS data showed.
Oman Oil owns a 40% stake in Oman Polypropylene, while LG International Corp, Gulf Investment Corp and International Petroleum Investment Co (IPIC) each hold a 20% stake in the PP maker.
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