21 September 2012 09:26 [Source: ICIS news]
SINGAPORE (ICIS)--Oman Oil Refineries and Petroleum Industries Company (Orpic) plans to shut polypropylene (PP) facility in ?xml:namespace>
The PP unit has a nameplate capacity of 340,000 tonnes/year, the source said.
“There will be no cargoes offered to
Previously, Orpic was selling September shipments, but quantities were small, as they could lock in better profits elsewhere, he added.
Despite this planned shutdown, impact on prices will be limited, industry sources said.
“The quantities [
At the meantime, the PP unit is running at 70%, and is expected to reach 100% operating rates by 2016, another source close to the company said.
Orpic comprises of Oman Refineries and Petrochemicals Company LLC (ORPC), Aromatics Oman LLC (AOL) and Oman Polypropylene (OPP).
Oman Oil owns a 40% stake in Orpic, while LG International, Gulf Investment and International Petroleum Investment Co (IPIC) each hold a 20% stake in the PP maker.
Additional reporting by Angie Li
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