Published on August 3, 2017
The leading manufacturer of Acetic Acid in India, GNFC has revised its basic price of Acetic Acid with effect from August 1, 2017. The company has reduced its value by Rs.5.070 mt/ton. The new prices announced are Rs.34.5/Kg respectively. The unit is based at Bhahruch in Gujarat. ..
Published on August 2, 2017
Zagros Petrochemicals has taken its no.1 and no.2 plants off-line last weekend on account of power failure. As per source news, the plans are anticipated to resume its production this week. The two plants are having a production capacity of 1.65 million mt/year each and positioned in Assaluyeh, Iran. ..
Published on August 1, 2017
Indorama Ventures Public Ltd has completed the expansion of its PTA unit based at Rotterdam. The new capacity post expansion will be 7,00,000 mt/year. The current Rotterdam based unit has the capacity of 380,000 m tpa of PTA, which is entirely used as a major feedstock of the site’s integrated Polyethylene Terephthalate (PET) production, a recyclable packaging material. The expanded plant is undergoing final stages of startup with expected commercial production in middle August 2017. The R ..
Published on August 1, 2017
The Centre is planning to set up petrochemical clusters in eastern, western and southern India, to spur growth of the sector amid increasing demand. As per report, centre is planning to set up a number of petrochemical clusters, two each in east and west coasts, and some in south India. They will integrated with refineries so that the entire chain is benefited. Recently the trend to set up petrochemical complexes to take full advantage of value chain of downstream products is increasing global ..
Published on July 31, 2017
India is planning to build new petrochemical complexes to develop the country as a polymer hub like Houston, Jurong Island or Shanghai. The government is planning to set up petrochemical clusters in Eastern, Western and Southern India to spur the growth of the sector with a view to meeting the increasing demand for polymers and specialty chemicals across diverse industrial segments. As per market report, with additional refinery capacity, large quantities of refinery by-product naphtha used as ..
Published on July 29, 2017
Canada based Methanex has announced its ACPC for the month of October. The prices has been unchanged for the month August. Asian Contract prices are posted at USD 320/MTS. Prices posted for the region of Europe around USD 320/MT. ..
Published on July 28, 2017
Kuwait Petroleum Corp. (KPC) in mid-July is planning for a new push towards international expansion. KPI is planning to increase global refining output to 800,000 bpd by the end of the decade and to 1.3 million bpd by 2030. Kuwait Petroleum International (KPI) pledged to more than treble global refining capacity by the end of the decade – with the doubts induced by a history of vague unconsummated Asian tie-ups mitigated somewhat by a recent regional investment rapidly progressing towar ..
Published on July 26, 2017
The Tamil Nadu government has outlined about 23,000 hectares of land spread across 45 villages in Cuddalore and Nagapattinam districts as Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR). The decision adds fuel to the ongoing protest against the hydrocarbon project in the Cauvery delta districts. The timing of the announcement for the delineation of the land for the PCPIR project in Cuddalore and Nagapattinam districts surprised the activists and political parties. The Centre h ..
Published on July 25, 2017
Hanwha Total has resumed its production of its naphtha cracker in the weekend. Earlier the unit was shut down on last Monday due to power outages caused by a lightning strike. It happened in afternoon with no casualities being reported. Post restart the unit has been running at 100% of its capacity. Plant has the production capacity of 1 million tpa naphtha cracker would restart. ..
Published on July 24, 2017
Cabinet ministry of Indian government has approved the decision of sellinf 51.1% of its share in HPCL to ONGC. "It is good for all the shareholders of both companies since integrated companies are much stronger and therefore valued by the market at higher multiple than standalone companies," said the Economic Times, quoting ONGC Chairman Dinesh Sarraf. The transaction, which may cost about $4.6-billion, is expected to be completed in a year. ..
