Naftogaz Ukrainy is having talks with Azerbaijan on oil supplies to Kremenchuk oil refinery

(Trend) -- The National joint-stock company Naftogaz Ukrainy is having talks with Azerbaijan on oil supplies for processing at the Kremenchuk oil refinery, Naftogaz deputy board chairman Vadym Chuprun was quoted as saying by Ukrinform. He said the company's delegation visited Azerbaijan on Sept.19, but a final agreement has not been reached yet.

Today, the State Oil Company of the Azerbaijan Republic (SOCAR) carries out oil supplies on CIF conditions to the Kremenchug refinery, and two Western refineries - Nadvoryan and Drogobych.

According to the Ukrainian Energy and Coal Industry Ministry, deliveries of Azerbaijani oil to the Kremenchug refinery increased by 2.1 times in 2010 - up to 1.614 million tons compared to 2009.

Its transportation was carried out mainly on the route "Oil delivery point Odessa - Kremenchug', which has a tariff of USD 20.5 per ton.


LANXESS expects a better year-on-year financial performance in the third quarter

(ICIS) -- German producer LANXESS said on Wednesday it expects a better year-on-year financial performance in the third quarter, while reiterating its full-year target of delivering a 20% growth in pre-exceptional earnings before interest, tax, depreciation and amortisation (EBITDA).
In the third quarter of 2010, the company posted a more than five-fold increase in net profit to EUR 118m (USD 162m), with pre-exceptional EBITDA up 71% year on year to EUR 244m. The company had a record quarterly net profit of EUR 181m in the second quarter. LANXESS said it has earmarked EUR 130m in research expenses, up 15% year on year.


Spot prices for US SBR are pushed down this month

(ICIS) -- Softening demand, lower feedstock costs and imports pushed down spot prices for US styrene butadiene rubber (SBR) this month, market participants said on Wednesday. SBR spot ranges for non-oil grade 1502 and oil-extended grade 1712 dropped by 5 cents/lb (USD 110/tonne, EUR 80/tonne) FOB (free on board) USG (US Gulf) from August. September SBR spot ranges for non-oil grade 1502 were 185-200 cents, while oil-extended grade was 170-180 cents/lb.

Concerns about the global economy and plummeting feedstock values have kept buyers on the sidelines, a producer said.

Buyers will continue to delay purchases if butadiene (BD) prices continue to slide and could push SBR values even lower, the producer said.

The recent softening in BD spot prices, which in September snapped a nine-month uptrend in the US market, is pointing to a major reduction in October, sources said, predicting a two-digit fall for the US contract.


Asian styrene monomer market will remain under pressure for the rest of the year

(ICIS) -- The Asian styrene monomer (SM) market will remain under pressure for the rest of the year as a result of persistently weak demand in the region, producers and traders said on Thursday.
Spot prices for October and November parcels slipped below USD 1,450/tonne (EUR 1,059/tonne) CFR (cost & freight) China this week, compared with prices at above USD 1,500/tonne CFR China a month ago, according to ICIS data.

Demand from the downstream styrenics sector is weak, although China's manufacturing season for exports typically lasts for three months until the end of September each year.

The ongoing debt crisis in the eurozone and the weak economic outlook in the US has dampened demand for China-made products. At the same time, tightened credit conditions in China have also curbed domestic demand for resins.

The outlook for the SM market remains weak, given that the fourth quarter is an off-peak season for styrenic resins. Therefore, most players are cautious about the near-term outlook. Prices in the region are weak despite the tight supply conditions in the Asian market.


Automotive supplier Delphi to employ BASF high-performance plastic

(BASF) -- For the reflector used in an automotive interior lighting application, the international automotive supplier Delphi has recently started to employ a high-performance plastic from BASF. After being injection molded, the complex and highly detailed part is metallized by means of physical vapor deposition (PVD), a process with demanding requirements for the plastic. The relatively new Ultrason E 2010 MR is a polyether sulfone (PESU) characterized by its good mold release properties. The reflector is manufactured by Goletz GmbH, located in Kierspe (Germany, North Rhine-Westphalia).