Oil trader Gunvor buys refinery in Belgium

(en.rian) -- One of the world's largest oil trading companies, Gunvor Group, owned by Russian businessman Gennady Timchenko, has bought the Petroplus oil refinery in Antwerp, Gunvor said on Friday.

"The parties plan to close the deal within six or eight weeks with the support of Belgium's state authorities," Gunvor said in a statement. The company declined to disclose financial details.

Netherlands-registered Gunvor plans to resume operations soon at the refinery, which halted last month due to financial difficulties at Petroplus. The facility has capacity to refine over 100,000 barrels of oil a day. Oil storage capacity amounts to 1.2 million cubic meters.


Perstorp increases price for Butyl Ethyl Propanediol

(perstorp) -- Leading specialty chemicals company Perstorp will increase price for Butyl Ethyl Propanediol (BEPD) April 1st or as existing contracts permit.

Effective 1 Aprill, or as existing contracts permit, Perstorp will increase price for Butyl Ethyl Propanediol (BEPD).

Prices increases are as follows for Europe - 200 eur/tonne, for US, Canada Mexico 10 c/lb, for Asia/Pacific 200 usd/tonne.

The Perstorp Group is a world leader in several sectors of the specialty chemicals market.


BASF acquires extrusion technology from B.C. Foam

(basf) -- BASF has purchased the PET foam business of the Italian company B.C. Foam S.p.A., headquartered in Volpiano. The companies have agreed not to disclose the purchase price for the transaction. The acquisition includes production facilities and intellectual property rights, as well as a special extrusion process which enables the production of high-performance PET foams with very high densities.

⌠By expanding our portfolio of sophisticated structural foams, this acquisition will enable BASF to further strengthen its position as a leading foam provider. These PET foams are primarily used in wind turbine rotor blades and will extend our product range for the growing global wind energy market, explained Dr. Wolfgang Hapke, president of BASF's Performance Polymers division.

PET foams are both temperature- and chemical-resistant. As well as being used in the wind energy sector, high quality PET foam boards are employed in lightweight composite materials that are particularly well-suited for applications in the automotive and aeronautics industries, as well as in shipbuilding.

⌠The development of specific system solutions and new types of materials plays a decisive role in bringing forward sustainable energy generation. We will benefit from the expertise and synergies resulting from the acquisition of extrusion technology from B.C. Foam, said Dr. Christian Fischer, president of Advanced Materials & Systems Research at BASF.


China amends law to combat excessive packaging

(packagingnews) -- An official document, posted on the Chinese Central Government's website, said China's legislature approved the amended version of the Law on the Promotion of Clean Production.

The Amendment to the Law on the Promotion of Clean Production, which will take effect in July, stipulates that companies should package their products in a manner that ⌠well fits the content's quality, size and cost and makes less packaging waste.

According to the amended law, during the design process of products and packages, companies "should take into account what influence they will exert upon human health and environment and give preferred consideration to plans that use packaging in a non-poisonous, harmless, degradable and recyclable way".

China has seen public outcries over excessive packaging, which not only causes unnecessary waste of resources and environmental pollution but also pushes product prices up, said Wang Guangtao, a legislator.

According to Guangtao, "excessive packaging fosters extravagance and corruption".

Shell in talks to settle USD653 mln Brazil contamination penalty

(royaldutchshellplc) -- BASF, the world's biggest chemical maker, is in talks with Royal Dutch Shell Plc (RDSA) to determine who should pay a 490 million-euro (USD653 million) fine for contamination in Brazil.

The site in Paulinia was ⌠significantly contaminated by the production of crop protection products, and BASF and Shell were jointly ordered in August 2010 to pay damages to former employees for medical treatment and personal suffering, BASF said in its 2011 annual report.

BASF said its Brazilian unit filed a lawsuit against Shell on March 30, asking a court to declare that Shell is responsible for the full amount of the damages resulting from the contamination at Paulinia. The two companies are in settlement talks, Ludwigshafen, Germany-based BASF said.

The Paulinia unit was built by Shell, sold to Cyanamid in 1995 and then acquired by BASF in 2000, the German company said in its annual report. The contamination stems from the period before 2000, BASF said.

Jennifer Moore-Braun, a spokeswoman for BASF, declined to comment beyond what is in the annual report. Spokesmen for Shell didn't immediately return calls seeking comment. The suit against Shell was reported today in German newspaper Financial Times Deutschland.