Americas top stories - weekly summary

13 February 2012 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 10 February 2012.

(Please click on the link to read the full text.)

Trinidad moves ahead with SABIC, talks begin on methanol project
Trinidad’s government moved closer to approving a $5.3bn (€4.0bn) methanol project proposed by Saudi Basic Industries Corp (SABIC) as more questions surfaced about the bidding process surfaced, a source said on Friday.

Debate on Trinidad methanol project focuses on too-cheap natgas
A political debate has erupted in Trinidad and Tobago over how the tiny country can make more money from methanol by giving a Middle Eastern producer a huge discount on natural gas, a US market source said on Thursday.

US Feb cumene may rise with benzene, propylene
US cumene formula-based contract prices for February are expected to jump by up to 6 cents/lb ($132/tonne or €103/tonne) due to increased feedstock costs, buyers said on Tuesday.

SABIC seeking $5.3bn methanol project in Trinidad – sources
Saudia Arabia's SABIC is pushing for approval to build a $5.3bn (€4.0bn)  methanol complex in Trinidad and Tobago, sources said on Wednesday.

US charges China company with conspiracy to steal DuPont TiO2 tech
The US government has charged several executives and China-based Pangang Group with conspiracy to steal DuPont's titanium dioxide (TiO2) technology, according to documents made available on Wednesday.

Initial US February propylene contracts rise 30%
US propylene contracts for February began to settle on Wednesday at an increase of 16.50 cents/lb ($364/tonne, €273/tonne), up by 30% from January, on support from a surge in spot prices last month.

US Old World to keep consumer unit after EO/EG sale to Indorama
US-based Old World Industries will continue to produce several of its product lines through its consumer-products division, following the sale of its chemicals business to Indorama, the company said on Tuesday.

US February cumene contract rises 31% on higher feedstocks
US February cumene contract prices were settled at a 31% increase because of higher feedstock costs and stable demand, sources said on Thursday.

US ethylene margins jump 15% on falling ethane prices
US ethylene margins rose by 15% last week, lifted mostly by softer ethane prices, the ICIS margin report showed on Monday.

US ethane prices to rise in second half – analyst
US ethane prices, which have been plunging since the beginning of the year, are poised to recover in the second half, an analyst with US-based investment bank Morgan Stanley said on Monday.

By: Staff Reporter
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