Higher monomer contracts lend support to PP, PVC, PE prices in Italy

(plastemart) -- The year 2012 has so far seen strong conditions in Europe's upstream markets which continue to apply upward cost pressure on Italy's polymer markets regardless of the ongoing slowness in end product businesses.

After crude oil prices on the NYMEX moved close to the USD110/bbl at the end of last week, spot monomer prices for ethylene and propylene gained strength. This is the first time that oil prices reached this threshold since May 3, 2011.

These conditions, along with the production issues at European cracker operators, have led the March propylene and ethylene contracts to settle with large price hikes for the third month in a row. The March contracts for ethylene and propylene werefully settled in Europe this week, posting monthly increases of EUR90/ton for propylene and EUR86/ton for ethylene, with the total hike amount since the start of this year reaching EUR200/ton and EUR225/ton.


Although downstream PP, PVC and PE producers are yet to officially reveal their initial March offers to Italy, buy and sell ideas clearly indicate a renewed upward rally for March, in line with players' expectations.

MRC

Honeywell opens new technology center in India

(process-worldwide) -- Honeywell opened a new technology center in India, further expanding its technology, development capabilities in key areas including refining, petrochemical, low-global-warming and nylon technologies and applications.

The facility in Gurgaon, India, features pilot plants for developing and demonstrating refining and petrochemical process technology by UOP, part of Honeywell's Performance Materials and Technologies (PMT) strategic business group. The center will also perform other product and application development for PMT, including fluorine and nylon technologies. Honeywell invested USD34 million in the 8,830-square-meter (95,000-square-foot) center.

"This new facility will allow Honeywell to put its vast resources to work in collaboration with some of the brightest engineering minds in India," said Rajeev Gautam, president and CEO of Honeywell?s UOP, who officially opened the center at a ceremony attended by Shri Jaipal Reddy, India's Minister of Petroleum & Natural Gas, and other dignitaries. "It brings the development of key technologies closer to our customers in the region and complements our other technology centers around the world."


MRC

Lyondell Basell grants Lupotech T process license to Shenhua

(plastech) -- Lyondell Basell today announced that China Shenhua Coal to Liquid and Chemical Co. Ltd. has selected Lupotech T process technology from LyondellBasell for a new 300 KT per year low density polyethylene (LDPE) and ethylene vinyl acetate (EVA) copolymer plant to be built in Yulin, Shaanxi Provence, China.

⌠With significant growth in LDPE and EVA products and the need for benchmark manufacturing performance to effectively compete in the region, Shenhua's selection of Lupotech T again demonstrates our market leadership in process technologies for the production of LDPE and EVA, said Bob Patel, LyondellBasell senior vice president of Olefins and Polyolefins for Europe, Asia, International, and Technology.

Key features of Lupotech T technology include low manufacturing and investment costs, fast start-up and grade changes, high reliability and capacities of up to 450 KT per year, which make it the technology of choice for the production of LDPE and EVA copolymers.

LyondellBasell is a leading licensor of polypropylene and polyethylene technologies with more than 250 polyolefin process licenses.


MRC

Mitsui to license polyurethane technology to SABIC

(hydrocarbonprocessing) -- The Saudi Basic Industries Corporation (SABIC) signed a TDI and MDI technology license agreement with Mitsui Chemicals under which Mitsui will provide manufacturing technology for producing TDI and MDI. The firms say they will explore future possibilities to collaborate in the polyurethane (PU) business.

The Saudi Basic Industries Corporation (SABIC) signed a TDI and MDI technology license agreement with Mitsui Chemicals under which Mitsui will provide manufacturing technology for producing TDI and MDI. Toluene di-isocyanate (TDI) and methylene di-phenyl isocynate (MDI) are each raw materials for producing polyurethane.

The agreement also provides for joint technology development in TDI/MDI, officials said. The agreement was signed by Mohamed Al-Mady, SABIC chief executive, and Toshikazu Tanaka, Mitsui Chemicals CEO, at SABIC's headquarters in Riyadh on February 26.

Al-Mady said that it would spearhead a strategic collaboration between the two companies to explore future possibilities to collaborate in the polyurethane (PU) business.


MRC

Lukoil taps Foster Wheeler for waste heat boiler at Russia refinery

(hydrocarbonprocessing) -- Foster Wheeler has been awarded a contract by Lukoil for the supply of a waste heat boiler for the Nizhegorodnefteorgsyntez refinery located in the Nizhny Novgorod region of Russia. Foster Wheeler's scope of work is scheduled to be completed by March 2013, it said.

Foster Wheeler has been awarded a contract by Lukoil for the supply of a waste heat boiler for the Nizhegorodnefteorgsyntez refinery located in the Nizhny Novgorod region of Russia.

The value of Foster Wheeler's contract was not disclosed and was included in the company's fourth-quarter 2011 bookings. The waste heat boiler will be installed downstream of a fluid catalytic cracking unit, enabling the production of gasoline that is intended to meet European Union Euro-5 standards.

Foster Wheeler has supplied a similar unit to the refinery, which unit has been in operation since 2010 to Lukoil's full satisfaction.Foster Wheeler's scope of work is scheduled to be completed by March 2013, it said.


MRC