06 September 2012 16:59 [Source: ICIS news]
LONDON (ICIS)--BP has declared force majeure (FM) on its purified terephthalic acid (PTA) and upstream paraxylene (PX) production out of Geel, Belgium, because of problems impacting upstream availability, a company spokesman said on Thursday.
"It’s FM on PTA and PX, from 00.01 [on] 5 September – ie Wednesday morning - at 100% allocation," the spokesman said, adding that there would be no availability for customers' additional requirements.
The facility has the capability to produce 1.33m tonnes/year of PTA and 631,000 tonnes/year of PX.
BP would not go into detail about the problems with the third party feedstock supplier.
"[The force majeure] won't tighten the [PTA] market dramatically," an industry participant said.
Meanwhile, there was an initial September PX settlement reported today at €1,190/tonne FD (free delivered) NWE (northwest Europe).
($1 = €0.79)
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