HOUSTON (ICIS)--Here are the top stories from ICIS News from the week ended 16 February:
force majeure on US purified
BASF has declared force majeure on US purified ethylene oxide (PEO) due to an unexpected equipment failure, causing the shutdown of its ethylene oxide (EO) unit at its site in Geismar, Louisiana, according to a customer letter obtained on Monday.
prioritises capacity rights regarding M&G
Corpus Christi plant
Alpek aims to either maintain original capacity rights under a new owner at Mossi & Ghisolfi’s (M&G) polyethylene terephthalate (PET)/purified terephthalic acid (PTA) plant in Corpus Christi, Texas, or to possibly be a joint bidder on the plant with the goal of maintaining those volumes.
glycerine prices could dip as spring
Biodiesel–derived 80% crude glycerine prices could decline in coming weeks as de-icing buyers exit the market with spring temperature forecasts and biodiesel production restarting.
acquire A. Schulman for
LyondellBasell is to acquire plastics compounds producer A. Schulman for $2.25bn, the US chemical major said on Thursday.
A Schulman will
expand LyondellBasell's compounding beyond
The acquisition of compounder A Schulman will give LyondellBasell access to a full range of markets beyond automobiles, the CEO of the Dutch company said on Thursday.
ramping up construction on Canada PDH/PP
Inter Pipeline has begun construction work on its propanedehydrogenation (PDH) and polypropylene (PP) complex in Alberta province, with work expected to be “significantly” ramped up in the first half of this year, the top executives of the Canadian midstream energy, pipeline and natural gas liquids (NGL) company said on Friday.
February propylene contracts at 6 cent/lb
Initial settlements for US February propylene contract prices are at a 6 cent/lb ($132/tonne) decrease from the prior month, market source said on Friday, although the settlement is not yet marketwide.
Phillips 66 mulls
another cracker for CP Chem joint venture –
US-based Phillips 66 remains open to developing another ethane cracker for its Chevron Phillips Chemical (CP Chem) joint venture, the refiner's CEO said.