LyondellBasell withdraws PE, PP offers on Al-Jubail plant outages

20 January 2012 04:54  [Source: ICIS news]

SINGAPORE (ICIS)--LyondellBasell has withdrawn its February offers for polyethylene (PE) and polypropylene (PP) in southeast Asia, India, China, the Middle East and Africa, following power outages at plants in Al-Jubail, sources close to the producer said on Friday.

“The producer withdrew its offers in south Asia last evening in a knee-jerk reaction, and did the same in southeast Asia on Friday morning,” one of the sources said.

A second source said: “LyondellBasell have put the new offers on hold for a few days.”

LyondellBasell is a joint venture partner in four PE and PP plants in Al-Jubail that are operated by Al Waha Petrochemical, Saudi Ethylene and Polyethylene Co (SEPC) and Saudi Polyolefins Company (SPC). (please see table below)

Al Waha is a 75:25 joint venture between Sahara Petrochemical Co and LyondellBasell.

SEPC is a joint venture between National Industrialisation Co (TASNEE) with a 50.6% stake, Sahara Olefins with a 24.4% stake and LyondellBasell, which holds the remaining 25%.

LyondellBasell holds a 25% stake in SPC, with the remaining shares owned by TASNEE.

LyondellBasell was not immediately available for comment.

LyondellBasell’s joint venture PE, PP plants in Al-Jubail

Company	Product	Capacity (kt/year)
Saudi Ethylene and Polyethylene Co (SEPC)	HDPE	400
	LDPE	400
Al Waha Petrochemical	PP	450
Saudi Polyolefins Co (SPC)	PP	700-750

Additional reporting by Chow Bee Lin

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By: Ong Sheau Ling
+65 6780 4359

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