Asia top stories: weekly summary

23 December 2013 01:00 Source:ICIS News
SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle east for the week ended 20 December 2013.

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Focus - Asia naphtha rises on deep-sea inflow delays, strong demand
Asia’s naphtha prices are getting a boost from delays in inflows of deep-sea supply, as well as from the firming downstream markets in China ahead of the Lunar New Year in January, traders said on Friday.

Focus - PE offers in Mideast, India set to rise on high China pricing
The selling indications of polyethylene (PE) in the Middle East and India are likely to rise for January shipment in tandem with the markets in China and southeast Asia, market participants said on Thursday.

Interview - Thai PTTGC on track to expand Map Ta Phut capacity: CEO
Thailand’s PTT Global Chemical (PTTGC) is proceeding with capacity expansion at its home production base in Map Ta Phut, while boosting its regional presence, the company’s top executive said.

Korea's LG Chem to invest W320bn to boost AA, SAP output
LG Chem will invest up to won (W) 320bn ($304m) to boost its acrylic acid production in Yeosu to 510,000 tonnes/year in 2015, the South Korean chemical firm said on Wednesday.

Singapore November NODX falls 8.8%; petchems exports steady
Singapore’s non-oil domestic exports (NODX)  in November declined by 8.8% year on year, with shipment values of petrochemicals largely unchanged at Singapore dollars (S$) 1.1bn ($880m), official data released on Tuesday showed.

Focus - Asia etac may extend gains from 20-month high on feedstock cost
Ethyl acetate (etac) prices in Asia may extend gains after hitting a 20-month high in December on the back of rising feedstock costs, market sources said on Monday.

Saudi Aramco to supply 50 mmcf/day methane gas to Petro Rabigh
Saudi Aramco has agreed to supply Rabigh Refining and Petrochemical Co. (Petro Rabigh) with 50 million cubic feet a day (mmcfd) of methane gas or its equivalent at current domestic prices in Saudi Arabia, Petro Rabigh said on Sunday.

UK's BP signs deal to develop $16bn Oman shale gas project
UK energy giant BP has signed a 30-year gas production sharing and sales agreements to develop a shale gas project in Khazzan at an investment of $16bn (€12bn) that will help meet Oman’s growing energy demand, the Omani government said late on Monday.

SAMAPCO signs $176m loan deal to fund EDC, caustic soda project
Saudi Arabia’s Sahara & Ma’aden Petrochemicals Co (SAMAPCO) has secured a 660m Saudi Riyal (SR) ($176m) loan from the Public Investment Fund (PIF) to finance its ethylene dichloride (EDC) and caustic soda project, the company said on Thursday.
By Staff Reporter