24 March 2011 10:12 [Source: ICIS news]
SINGAPORE (ICIS)--Oman Polypropylene (PP) has raised operating rates at its Sohar unit to 70-80% after a technical glitch occurred last week, a company source said on Thursday.
The PP unit, which has a nameplate capacity of 340,000 tonnes/year, was running at 50-60% for seven days last week, the source said.
“Due to the technical problem, we reduced operating rates by 10-20%, but marginal amount of PP is lost. There should not be any impact on the market,” he added.
“We can’t ramp up due to upstream limitations,” the source said.
The company has plans for expansion, but further details were not available.
Oman Oil owns a 40% stake in Oman PP, while LG International, Gulf Investment and International Petroleum Investment Co (IPIC) each hold a 20% stake in the PP maker.
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