Corrected: China’s CSPC runs Huizhou 950,000 tonne/year cracker at 100%

15 August 2012 10:11  [Source: ICIS news]

Correction: In the ICIS news story headlined "China’s CSPC runs Huizhou 900,000 tonne/year cracker at 100%" dated 15 August 2012, please read in the headline ... 950,000 tonne/year ... instead of ... 900,000 tonne/year .... A corrected story follows.

SINGAPORE (ICIS)--China’s CSPC, a joint venture (JV) between state-owned CNOOC and Shell Petrochemicals Co, is running its 950,000 tonne/year naphtha cracker at Huizhou in Guangdong at 100% of capacity, market sources said on Wednesday.

The company has no plans to shut down the cracker for maintenance this year, the sources added.

However, company officials could not be immediately reached for comment.

Ethylene prices in Asia rose by $20/tonne (€16/tonne) from Monday to $1,170-1,230/tonne CFR NE Asia on Tuesday, amid healthy buying enquiries in China where domestic supply is tight, according to ICIS data.

CSPC is a 50:50 joint venture between the China National Offshore Oil Corp (CNOOC) and Shell Petrochemicals Co.

($1 = €0.81)

By: Felicia Loo

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