BASF again included in both Carbon Disclosure Project indices

(BASF) -- The international investor group Carbon Disclosure Project has again selected BASF for inclusion in the Carbon Disclosure Leadership Index (CDLI) and Carbon Performance Leadership Index (CPLI). According to CDP BASF is among the leading companies in the world in the category of climate change. The CDLI contains 52 companies that disclose their data in a particularly transparent and comprehensive manner. The CPLI represents 29 companies based on their exemplary performance in terms of climate change - for example with regard to their strategy, their stakeholder communication, their management system and their reduction of greenhouse gas emissions. The Carbon Disclosure Project (CDP) represents 551 institutional investors holding $71 trillion in assets under management. Investors use CDP indices as assessment tools.


Saudi Aramco should clarify the new cost of the gas feedstock - SIIG

(Arabian oil and gas) -- Saudi Industrial Investment Group (SIIG) says Saudi Aramco should clarify the new cost of the gas feedstock, to allow local petrochemical companies to make future plans.

Suliman Mohammed al-Mandeel , delegate member of SIIG said in a TV interview with the al-Arabiya TV Channel that as Saudi Aramco is due to increase the gas feedstock by next year, it is better to clarify the cost now.

⌠Decision makers should take into consideration the recent international development of gas exploitation mainly related to the shale gas, as it gives competitive advantage for US and European petrochemical companies compared to before where high feedstock cost gave strong advantage for local producers over western companies, al-Arabiya quoted al-Mandeel as saying.


DuPont won a lawsuit against Korean producer Kolon Industries

(ICIS) -- US-based DuPont won a lawsuit on Wednesday for USD 919.9m (EUR 671.5m) against Korean producer Kolon Industries, which was accused of stealing trade secrets about the company's Kevlar aramid fibre. A jury found that Kolon was liable for misappropriation of trade secrets, and that its actions were willful and malicious, DuPont said.

"The size of this award is one of the largest in defence of business processes and technologies," according to a statement by Thomas Sager, DuPont general counsel.

In 2007, DuPont became concerned about Kolon's activities and notified the Federal Bureau of Investigations (FBI), the Department of Justice and the Department of Commerce.

An FBI investigation revealed that in August 2008, three Kolon managers had flown to Richmond, the site of DuPont's Kevlar technology and business headquarters. According to the investigation, the managers flew to Richmond to obtain confidential information about DuPont process technology.
Later, the federal government charged former DuPont employee Michael Mitchell on a count of stealing trade secrets and a count of obstructing justice. Soon afterwards, Mitchell agreed to plead guilty. He was sentenced to 18 months in US federal prison.


Spot prices of isocyanates in the Middle East and Africa have fallen this week

(ICIS) -- The spot prices of isocyanates in the Middle East and Africa, which include the prices of polymeric methyl di-p-phenylene isocyanate (PMDI) and toluene di-isocyanate (TDI), have fallen this week in line with the weaker China and European markets, industry sources said on Thursday.
The prices are expected to decline further in the Middle East in the next few weeks, but those in the African market are expected to stabilise because of upcoming seasonal downstream demand, the sources added.

The spot prices of PMDI and TDI in the Gulf Cooperation Council (GCC) region are lower by USD 50-60/tonne (EUR 37-44/tonne) or 2.4-2.5% to an average of USD 1,990/tonne CFR (cost & freight) and USD 2,390/tonne respectively, after being stable for the past three weeks, according to ICIS data.

Poor market fundamentals in the leading Chinese and European markets have led producers from these regions to seek outlets in the Middle East and Africa to relieve their high inventory levels, regional players said.


ABB signed a new framework agreement with Shell

(Arabian oil and gas) -- ABB has signed an Enterprise Framework Agreement (EFA) with Shell to supply low- and medium-voltage motors and related services. The agreement is for a period of five years. With its recent acquisition of Baldor, ABB now offers a complete range of high-efficiency motors that fulfill either NEMA or IEC standards. This scope, together with ABB's offer of related motor services and frequency converters, helped ABB secure this contract.

⌠This agreement shows that ABB's commitment to provide the full scope of high-efficiency motors and related services creates value for a global company like Shell that is focused on safety, reliability, and energy efficiency, says Ulrich Spiesshofer, head of ABB's Discrete Automation and Motion division. ⌠ABB is driving new standards that improve performance and reduce the impact on the environment.

The global agreement covers the sales, distribution, and support of electrical motors for electrical rotating equipment.