Heads of Bashkortostan and Salavatnefteorgsyntez discuss the company's results

SALAVAT (Salavatnefteorgsyntez) -- The meeting between President of The Republic of Bashkortostan R. Z. Hamitov and Salavatnefteorgsyntez CEO D. A. Shavaleev took place. The sides discussed the company's results in H1 2010, the firm's investment program realization process, collaboration with petrochemical companies in southern Bashkortostan and other issues.

The main topic of the discussion between Salavatnefteorgsyntez CEO and Bashkortostan's President was the results of the company's activity in H1 2010. In the first six moths of 2010 Salavatnefteorgsyntez Group generated over RUB 2,6 bln. net profit.


BASF achieves a leap of earnings

(prw) -- BASF has achieved ⌠a leap in earnings due in part to recent organisational changes but also to improving market conditions, especially in the US and Asia. The German chemicals giant said earnings before tax and interest rose by 94% to ┬2.20bn in the second quarter, beating market expectations.

BASF's performance is in line with the results reported by both DuPont and Akzo Nobel, indicating that the materials sector is benefitting from a rapidly improving market.

MRCMRC Reference

BASF. The share in the Russian market in 2008:
PS - 9.1% (GPPS - 5.9%, ABS - 11.4%, EPS - 10.6%).

Annual sales growth in Russia over the 5 years:
PS - 15%.

Imports by polymers processing technologies:
injection molding

INEOS to launch new ethylene terminal

(plastemart) -- INEOS Oxide has confirmed plans to build and operate a new 1 mln ton, deep-sea Ethylene Terminal, to be constructed at its Zwijndrecht Facility, Belgium. The operation of the new deep-sea terminal, which is expected to start in 2012, will significantly change the shape of the ethylene market in Europe.

Once completed, the new INEOS Terminal will be connected directly to INEOS' ethylene consuming facilities in the Antwerp Rotterdam Area and into Europe via the ARG ethylene pipeline (formerly Aethylen-Rohrleitungs-Gesellschaft pipeline) linking Antwerp to Cologne and the Ruhr industrial areas.

MRCMRC Reference

Ineos is a petrochemical group.
In Russia Ineos's interests are represented by Ineos Polyolefins and IneosChlorVinyls.

The share in the Russian market in 2008:
PVC - 4.5%;

polyethylene - 1.9%
(HDPE - 2.8%, LDPE - 1.2%);
polypropylene - 1.4%
(PP-random - 22.1%, PP-impact - 2.0%);
polystyrene - 0.9%.

Imports by polymers processing technologies:
profile extrusion;
pipe extrusion;
film extrusion;
injection molding.

New giant ethylene complex inaguruated in Iran

(plastemart) -- The '5th Olefins' of Assalouyeh with capacity to produce 500,000 tpa of ethylene has been inaugurated by Iran's president. Morvarid Petchem will supply ethylene feedstock until Iran's 11th Olefins, underway by Kavian Petrochemical Co., is brought on stream.


Russia becomes fourth largest LDPE net exporter in the world

MOSCOW (MRC) -- Russia became the fourth largest market player in terms of LDPE net exports after Qatar, Saudi Arabia and Malaysia - according to just published MRC "Polyethylene in Russia - 2010" Annual report. Overall Russian LDPE exports totalled at 273 kt last year, which exceeded the 2008 volumes more than two times.

LDPE domestic demand went down by 166 kt in 2009 and moved at the level of 2004 (416 kt). The LDPE market has been the biggest net exporter for the last decade. In 2009, net exports exceeded a half of all LDPE consumtion for the first time over the last ten years. Utilization of LDPE capacities was 109% in 2009, which was also a maximum over the last decade.

Russian producers, especially in Q4 2009, were trying to export LDPE into foreign markets. Firstly, it referred to Tomsk PE supply to China. According to the results of 2009 results, overall LDPE exports from Tomskneftechim exceeded 189 kt.

In H1 2010, LDPE exports have been decreasing on average 20% a month. By July 1, overall Russian LDPE exports moved at 90 kt, which is 40% less than in 2009.


More detailed analysis of processing capacities and polyethylene consumption by sectors, markets, types of finished goods and converters is available in MRC "Polyethylene in Russia - 2010" Annual report.