10 May 2013 12:26 [Source: ICIS news]
Correction: In the ICIS story headlined "Libya cracker to attempt restart mid-May – sources" dated 10 May 2013, please read in the fifth paragraph ...330,000 tonnes/year of ethylene... instead of ...130,000 tonnes/year of ethylene.... A corrected story follows.
LONDON (ICIS)--The Libyan National Oil Corporation (NOC) cracker based in Ras Lanuf could be back online in the second half of this month following an absence of just over two years, market sources said on Friday.
“The story is that they will try to restart mid May,” said one source.
“I heard from the shipping market, that they are ready to export from early June,” said another source, but added “we have heard that song before” in reference to several previous and unfulfilled expectations of a restart.
The last news directly from NOC was that restart was unlikely before the start of 2013.
The cracker, which has the capacity to produce 330,000 tonnes/year of ethylene, and 170,000 tonnes/year of propylene was shut down in February 2011 because of the conflict and violent unrest in the country at the time.
The lack of Libyan production has disrupted propylene and crude C4 supplies to the Mediterranean and US.
NOC was unavailable to comment.
($1 = €0.77)
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