Tetra Pak achieves milestone towards goal of 100% renewable packaging

(Tetra Pak) -- Tetra Pak achieves a significant milestone towards its goal of producing 100% renewable packaging with Nestle Brazil's launch of two popular milks brands in carton packaging featuring caps made with green polyethylene (PE).

The first ever use of plant-based polyethylene in carton packaging further strengthens Tetra Pak's renewability credentials, nudging still higher the average 73% of renewable material used to manufacture the company's broad portfolio. Over time, as the company increasingly adopts plant-based plastics, it expects to be able to offer a carton range that is 100% renewable.

The green polyethylene has been developed by Braskem, Brazil's largest petrochemical company, and is made out of sugar cane derivatives, which are polymerized in plastics for cap production.

Tetra Pak is the world's leading food processing and packaging solutions company, providing safe, innovative and environmentally sound products that each day meet the needs of hundreds of millions of people in more than 170 countries around the world.


In July PET import to Ukraine grew twice

MOSCOW (MRC) -- The Ukrainian market of PET packaging continues to grow. In July, imports of PET-granulate increased more than twice and made about 26 KT, according to MRC DataScope.

July appeared quite productive for converters of PET-granulate. Following the results of the month, deliveries of granulate to the Ukrainian market made nearly 26 KT, while in June about 12 KT of PET feedstock was imported.

One of the main reasons for such a significant increase in supply was quite an attractive price at which converters and traders contracted in May-June.

There were notable changes in the structure of supplies. Ukrainian tend to orient at purchasing of cheap materials in China. The share of Chinese PET made about 20 KT of the total supply. Shanghai Hengyi Polyester and Jiangsu Sanfangxiang were main suppliers for Ukrainian companies.


Stock market turmoil, volatile crude stall Asia PET trades

(ICIS) -- The turmoil that swept through global stock markets and the resulting slump in crude futures stalled trades in the Asian polyethylene terephthalate (PET) bottle chip markets this week, industry sources said on Wednesday.

Several northeast Asian producers maintained price ideas at around USD 1.700/tonne (EUR 1,190/tonne) FOB (free on board) Asia on Wednesday, similar to Friday's levels, with market players at a loss on where prices are headed.

Spot PET trading in Asia came to a virtual standstill by Tuesday afternoon as the slump in crude futures curbed firm discussions between producers such as South Korea's SK Chemicals and Taiwan's Far Eastern Group and their customers in the main export markets.

Several PET producers were reluctant to revise down price ideas because they had settled their raw material prices prior to the global stock market rout.


India's JBF to build 390 KTa PET plant

(Plastemart) -- BP PLC and Indian polyester manufacturer JBF Group have inked a deal for feedstock supply by the UK energy giant to a new manufacturing unit to be built by JBF, as per Dow Jones Newswire. The long-term supply deal is for BP-produced purified terephthalic acid (PTA), which will be used by JBF in the manufacture of polyethylene terephthalate (PET). The new 390 KTa facility will be located on BP's existing petrochemical complex in Geel, Belgium adjacent to a BP production site in Belgium. Costs of building the new facility would be borne by JBF.


Iran has discovered a new gas field

(Arabian Oil and Gas) -- Iran has discovered a gas field with 495 billion cubic metres of gas that it estimates is worth USD 133 billion, Deputy Oil Minister Ahmad Qalebani told a news conference. Qalebani claims that 658 million barrels of oil equivalent (boe) from the 1.5 billion boe field are recoverable.

Iran hopes to discover 2.5 billion barrels of recoverable oil and 23 trillion cubic feet of gas in the course of its fifth five-year development programme to 2015.

The Iranian Oil Ministry has also confirmed that it has received USD 1.33 billion from Indian in overdue payments for shipments of natural gas. A debt of USD 5 billion arose as international sanctions against Iran prevented direct payment from India. The new arrangement is for payment through a proxy in Turkey.