BP raises US PTA allocation to 100%, plans to remove FM soon

11 July 2011 19:42  [Source: ICIS news]

HOUSTON (ICIS)--BP raised its supply allocation on US purified terephthalic acid (PTA) to 100% effective on 11 July and hopes to remove the force majeure on PTA altogether in the week beginning 18 July, a company source said on Monday.

The producer increased its PTA allocation to 90% from 80% last week, following the restoration of normal production rates at its plants in Decatur, Alabama, and Cooper River, South Carolina.

BP’s 1.15m tonne/year Decatur plant went down on 28 April following a storm-related power outage, while a unit at its 750,000–800,000 tonne/year Cooper River site did not restart on schedule after planned maintenance work.

The UK-based company declared force majeure on US PTA on 28 April, initially imposing a supply allocation of 50%.

On 1 June, this was cut to 25%, and then raised successively to 70% and 80% following the restart of BP’s facilities.

PTA is the principal feedstock for polyethylene terephthalate (PET), which used in the manufacture of plastic bottles.

BP Chemicals and DAK Americas are the only PTA producers in the US.

For more on PTA and PET visit ICIS chemical intelligence

By: Samuel Weatherlake
+44 20 8652 3214

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