Formosa to invest in petrochemistry and shale gas exploration

(Plastemart) -- Formosa Plastic Corp. (FPC) plans to invest in petrochemicals and shale gas exploration through its overseas subsidiary FPC USA, to raise deployment in the U.S., as per CENS. Mature and commercialization of low-cost shale gas exploration technologies will enable FPC USA to boost production capacity of ethylene and propylene. Investment outlay is estimated at US$400 mln to build a 400,000 tpa ethylene plant.

FPC holds 22.6% stake in FPC USA, which owns 300 natural-gas wells and will expand annual capacities of ethylene and propylene by 2.1 mln tons and 1.15 mln tons, respectively by the end of 2013.


Nexeo Solutions highlights European capability at Fakuma 2011

(Nexeosolutions) -- At the forthcoming Fakuma, Nexeo Solutions will formally present itself at a major European trade show. The new independent company will set out to connect customers and suppliers of chemicals, plastics, composites and environmental services. With operations across North America, Europe and Asia, Nexeo Solutions aspires to be the global leader in the industry.

The company, which was formed from the distribution division of Ashland Inc. earlier this year, has an extensive global infrastructure, experienced team and efficient logistic network enabling customers to connect to the opportunities of the markets.

According to CEO David Bradley, the company will focus exclusively on distribution and will be using service as a differentiator. The company's product portfolio encompasses materials for all prime processes, including injection molding, blow molding, extrusion and rotational molding. Nexeo Solutions offers a broad product offering complemented with the ability to provide technical support to aid in design assistance and process optimization.


BP played an important role in the achievements of Azerbaijan's oil and gas sector

(Socar) -- On September 28, SOCAR President Mr. Rovnag Abdullayev met with Mr. Charles Hendry, UK Minister of State for Energy and Climate Change. Welcoming the guests, Mr. Abdullayev spoke about the role of oil and gas industry in the development of the country. He said that foreign oil majors, including BP, had played an important role in the achievements of Azerbaijan's oil and gas sector in recent years. He noted with approval the experience of beneficial cooperation between SOCAR and BP on the Azeri-Chirag-Gunashli, Shahdeniz, and Baku-Tbilisi-Jeyhan projects. The companies represented in the British delegation expressed interest in the projects in the Azerbaijani energy sector. The participants heard about preparations to build the new oil and gas refinery and petrochemicals complex and about major ecological projects carried out by SOCAR. SOCAR President said that Azerbaijan was open to foreign investment and carefully considered cooperation proposals from all companies.


South American BOPP and CPP film supplier to enter the North American market

(Plastics Today) -- South American BOPP and CPP film manufacturer Opp Film, SA, a subsidiary of Oben Holding Group, announced that it will immediately begin supply of its bi-axially oriented polypropylene (BOPP) and cast polypropylene (CPP) films to firms in Mexico, Canada and the United States. The company recently established a North American distribution and technical support subsidiary in Houston to facilitate Opp's move into the North American market. Under the name Packfilm North America Inc., the division will be headed by Steve Brandt, a 30-year industry veteran, who serves as president. Diana Hidalgo Durand is VP sales and logistics.


Russian converters increased polymer consumption volumes

(MRC) -- In August, Russian converters increased consumption of all high-bulk polymers. Following the official data, over the eight months, the production of plastic products in Russia have grown by 16.3%, according to MRC ScanPlast.

In August, according to official Rosstat's data, total production of polymers in primary forms in Russia made 439 KT, that was by 3% down, compared to July. In general, over the eight months, total production of primary-form polymers grew by 8.9% year on year. Also production of primary-form polymers of ethylene increased by 5.3%, primary-form polymers of styrene - by 15.6%, primary-form polymers of propylene and other primary-form olefins - by 12.4%, which resulted from increased output of Tomskneftechem Ltd, Gazprom neftechem Salavat JSC, Ufaorgsyntez JSC, Nizhneskamskneftechem JSC, Petrochemicals RPE Ltd, Stavrolen Ltd, Polystyrene Ltd on the back of grown demand for plastic products.

Export primary-form polymers (polyethylene, polypropylene, polystyrene and polyvinyl chloride), excluding shipments to the Common Customs Union, made more than 251 KT, that was less by 20% year on year. The main decrease in exports fell at polyethylene. Imports of primary-form polymers, by contrast, grew to 1075 KT, that by 36% up year on year. The largest imports increase was seen in primary-form polymers of vinyl chloride and ethylene. This year the import of these high bulk polymers has increased by 44% and 32% respectively.

According to official data, the production of plastic products in January-August grew by 16.3% year on year. Following the August results, the total volume of pipes, hoses and fittings made 53.8 KT. In general, over the eight months, production volume of these products grew by one third. Last month production volume of polymer sheets made 14.3 KT. Following January - August results, it increased by 17%. The production of windows, window frames and polymer sills in August made 234 mln m2, the production gain at the year-end made 15.4%.