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Karnataka State clears proposal to construct a petrochemical complex

The cabinet of South Indian state of Karnataka has cleared a proposal to construct a Petrochemical Complex near Mangalore. This complex will have an investment outlay of Rs 3,590 crore, is scheduled to be completed by 2026, and will create a job potential for over one million ...

Steel, ferrous scrap, manganese ore, grain underpin Panamax rates

Steel exports from France to South Korea, ferrous scrap out of the US and northern Europe to the eastern Mediterranean and manganese ore and grain cargoes from South America are helping to keep Panamax freight rates in the Atlantic very firm, according to ship brokers.

IOC to commission 15 mln tpa refinery and petrochemical complex by 2011

Indian Oil Corp (IOC) has received environmental clearance for its project in Orissa on August 6, 2007. IOC will commission a new 15 million tons oil refinery and an accompanying petrochemical complex at Paradip in Orissa by October 2011, at an investment outlay of Rs 25,646 ...

Aker Kvaerner wins Purified Terephthalic Acid project in Portugal

10 Sep 2007 - Aker Kvaerner has been awarded a contract to provide the engineering, procurement services and construction management for Artenius' new mega Purified Terephthalic Acid (PTA) plant, to be built in Sines, Portugal. The contract value to Aker Kvaerner is approximately ...

Japanese August ethylene production dips amid maintenance shutdowns

Amid maintenance shutdowns, Japanese ethylene production in the month of August dipped by 1%as against production figures for the same month a year ago. Ethylene production for August this year has totaled to 636,800 tons in August, compared with 643,300 tons in 2006. Two ...

HPCL plans partnership for new project in South India

Hindustan Petroleum Corp is considering setting up of a refinery and/or petrochemical project in South India, and take on steel tycoon Lakshmi Mittal, gas firm GAIL (India) Ltd and/or Oil India Ltd as partners. Mittal's Singapore-based Mittal Energy Investments is HPCL's partner ...

LG Chem completes PVC plant in China

LG Chem, South Korea's largest chemicals maker, has completed construction of a PVC plant in China at an investment of US$300 mln (281 bln won). With this new capacity, LG Chem's annual PVC output will total to 920,000 tons. LG Bohai, located in Tianjin Province will produce ...

Total start maintenance shutdown at Carling cracker

Total Petrochemicals' Line 1 of the steam cracker located in Carling, France has been shut for a 6 week maintenance maintenance wef 3 September 2007. The maintenance and modernisation plan will require an investment to the tune of EUR 62 mln. The plan will comprise a new turbine ...

Indian petrochemical industry poised to grow at 12-15%

A study on future outlook on the organic chemicals industry by Tata Strategic Management Group states that the Indian petrochemical industry is poised for a growth of 12-15% over the next 5-7 years and this is expected to translate into investments of US$12-15 bln for the ...

Thailand uses sugar waste to make biodegradable food packaging

Bagasse, a previously useless waste product from sugar cane, is being used to make biodegradeable packaging for food products in Thailand. The new "bagasse boxes" are made out of agricultural sugar waste, and so decompose after use, claims its Thai manufacturer, the Biodegradeabl...

Sinopec mulls raising US$5 bln for refinery and ethylene complex JV in Guangzhou

Sinopec is contemplating raising US$5 billion to build its joint-venture refinery in Guangzhou. The JV project has a capacity to refine 15 million tons of oil and produce 1 million tons of ethylene. Sinopec is in negotiations with Kuwait Petroleum Corporation (KPC), Dow Chemical ...

Price trends of oil, polymer feedstock & commodity polymers in Asia for the week of Sep 10, 2007

p>SUMMARY Crude oil futures spiked to their highest closing since August 2, rising to US$76 levels for October delivery in the week of September 10, 2007 on the New York Mercantile Exchange, on account of a continued drop in inventories. Naphtha rose in line with robust crude ...

Aker Kvaerner awarded PTA contract in Portugal

Aker Kvaerner has been awarded a contract to provide the engineering, procurement services and construction management for Artenius' new mega Purified Terephthalic Acid (PTA) plant, to be built in Sines, Portugal. The contract value is approximately GBP 20 million. Aker Kvaerner ...

RIL to acquire polyester assets of Malaysia's Hualon

Reliance Industries Ltd. is to acquire the polyester assets of Hualon Corporation (M) Sdn Bhd in Malaysia. RIL has reached an agreement with the Receivers and Managers of Hualon Corporation, to acquire all assets of Hualon for undisclosed amount. The acquisition is subject to ...

High rubber prices keep rubber growers from replanting

Chennai (The Hindu Business Line) -- Rubber growers are resorting to slaughter tapping of old trees instead of replanting them. This could have an effect on production in the next few years, players connected with the sector say. Unscientific excessive harvesting practiced by a ...

PTT awards US$170 mln refinery upgrade order to SK Eng

Thailand's state-run PTT Public Co. Ltd. has awarded a US$170 mln contract to SK Engineering & Construction. SK Engineering will build upgrade facilities such as condensate residue splitter and kerosene merox unit that turn benzene, toluene, and xylene residue into naphtha, ...

Pemex says pipeline disruptions impacting natural gas supplies

Mexican natural gas supplies in the Veracruz region have been disruptedby a series of explosions on the lines Monday, but state Pemex said itexpected refined petroleum product supplies to be unimpeded. Earlier Monday, Pemex blamed "pre-mediated acts" for the damages toseveral ...

US solvent toluene price increase expected this week

A recent jump in toluene barge prices has led one regional distributor to announce a price increase for solvent toluene this week. A regional distributor in Texas said Monday his will increase solvent toluene prices 2 cents starting September 15. "The barge market is up 30 to 40 ...

Samsung Engineering receives US$1.1 bln order from Thai PTT

Samsung Engineering Co. has received a US$1.1 bln contract from Thailand's PTT Pcl to build gas plants. The value of this order makes it the biggest Thai order for South Korea's No. 1 engineering company. The US$1.1 bln deal includes Samsung's previous contract with PTT, ...

Venezuela and Bolivia sign cooperation agreement for petrochemical production

Venezuelan President and his Bolivian counterpart have signed a range of cooperation agreements on petrochemical and cement production, forestry and mining. As per the deal, the petrochemical complex will be built in the Bolivian city of Cochabamba.

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