Tag Archives | petrochemicals

Petkim plans hail better future for Turkey petrochemicals

With a stable and fast-growing economy which held up well during the downturn, Turkey should already have a burgeoning chemical sector. But the country has been running a huge polymer deficit for many years thanks to decades of underinvestment in the country’s national champion, Petkim.  But since successful privatization, Petkim has made bold plans to […]

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Poland’s chemical industry may be hit by currency, feedstock costs

An interesting report, just out, today says growth in the Polish petrochemicals industry could be hindered by the appreciation of the zloty and rising naphtha costs.According to the report, Poland has a position as a regional outperformer owing to its resilient internal demand driven economic model, manageable private sector leverage, robust banking sector and stable […]

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Steel price hikes will hit petrochemical projects

Price contract mechanisms for iron ore were recently altered to reflect spot prices and commentators agree this could result in big hikes in steel prices. As petrochemical projects are composed largely of steel, it is pretty obvious that project costs will rise. Today’s Financial Times quotes Lakshmi Mittal, chairman of the world’s largest steelmaker, ArcelorMittal, […]

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Ukraine petrochemicals production dives by a quarter

Severe economic problems in Ukraine and neighbouring countries since the financial crisis have really hit demand for chemicals hard. GDP plummeted by 15% last year with all sectors of the economy affected. According to a new report out by companiesandmarkets.com, the construction sector virtually ground to a halt, with activity falling by around a half. […]

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Turkey’s Petkim seeks partners for petrochemicals expansion

My colleague, Anna Jagger, attended a conference in Vienna, Austria, last week. There she learned that Turkey’s Petkim is seeking partners for a major petrochemicals expansion at its complex near Izmir in western Turkey. Petkim – the country’s main petrochemical major - has suffered decades of underinvestment resulting in a huge polymer deficit in Turkey. The […]

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IPIC names Bayer MaterialScience on list of possible acquisitions

International Petroleum Investment Company (IPIC) is in talks with five major petrochemical players in the US and Europe, including Bayer MaterialScience, and expects to close a European acquisition by the first quarter of 2010, the managing director of the Abu Dhabi-based company said on Tuesday.Khadem Al Qubaisi said technology from the new company would be […]

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President Ahmadinejad Inaugurates Petrochemical Facility - Assaluyeh

Iran petrochemicals forecast to plummet

Iran’s petrochemical industry is forecast to suffer a severe slowdown in investment following the re-election of hard-line President Mahmoud Ahmadinejad. The global recession and low oil prices will add to the country’s troubles, according to a fascinating new report by companiesandmarkets.com(Picture – Iranian president Mahmoud Ahmadinejad during the inauguration of Mehr petrochemical facility at Assaluyeh, […]

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Turkey petrochemicals forecast suggests tough future

New forecasts show that Turkey’s petrochemical and chemical sector is in line for a tough 2009.Turkey had become used to double digit growth in demand for plastics and chemicals, sucking in imports from Europe and Asia. No longer. Here is chemicals content of the report, just out:“While 2009 will be a terrible year for the […]

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PKN Orlen moves a step closer to feedstock independence

Good news for Poland’s PKN Orlen this week. All oil producers in the country are reliant on Russian crude; a vestige of the Soviet era.Now the country’s oil group, Grupa Lotos, has signed a letter of intend with the State Oil Company of Azerbaijan (SOCAR) to co-operate on oil production.A pipeline which currently runs from […]

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Czech chemicals report highlights Reach issue

A report just out on the state of Czech Republic’s chemical sector highlights the likely fallout from the president’s decision last August not to comply with the EU chemical regulation Reach. Companies such as Unipetrol face a conundrum. Whilst they do not need to comply with Reach domestically, any exports will need to comply with […]

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