Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 16 February:

BASF declares force majeure on US purified EO
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.

Mexico Alpek 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.

US crude glycerine prices could dip as spring nears
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.

LyondellBasell to acquire A. Schulman for $2.25bn
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 auto
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.

Inter Pipeline ramping up construction on Canada PDH/PP complex
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.

Initial US February propylene contracts at 6 cent/lb decrease
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 – CEO
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.