21 February 2011 17:46 [Source: ICIS news]
LONDON (ICIS)--Chemicals operations in ?xml:namespace>
Tens of thousands of people have held protests in the streets of the Libyan capital
There have been reports of violent clashes between protesters and supporters of Gaddafi.
The ongoing unrest in
At 15:20 GMT, April Brent was trading at $104.88/bbl, up $2.36/bbl, while the March WTI contract, was trading at $89.84/bbl, up $3.64/bbl.
A softer US dollar and short covering ahead of the expiry of the March NYMEX WTI contract on 22 February added further upward pressure on prices. The
The political unrest in Libya has forced a number of chemical plants in the country to shut down and stop operations altogether.
The 300,000 tonne/year NOC/Rasco cracker at Ras Lanuf, in
Methanol production at the Ras Lanuf site was also believed to have been stopped on 21 February for the same reasons.
NOC/Rasco, however, was unavailable to comment on this.
One distributor said it was waiting on news of a vessel, containing 2,000 tonnes of propylene, which was due to leave
The same source said it was unclear if an ethylene shipment, due to leave
Libyan Norwegian Fertiliser Co (Lifeco) has also shut down production at its urea unit at Marsa El Brega as a precautionary measure, a spokesman with Lifeco stakeholder Yara said.
Norway-based fertilizer major Yara, which has a 50% stake in Lifeco as part of a joint venture established in February 2009, said it had not yet decided when production would restart.
In addition, Italian energy major Eni announced that it was preparing to pull its non-essential staff and their families out of
“The company’s production continues as normal with no effects on operation. However, Eni is further reinforcing the security measures for its people and plants,” it said in a statement.
Additional reporting by Giovanni Coiro, Heidi Finch, Carl Roache, Nurluqman Suratman and James Dennis
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