BASF to increase prices for butanediol and derivatives in Europe

(basf) -- With immediate effect, or as existing contracts permit, BASF SE will increase its European selling prices for the following products: 1,4 Butandiol (BDO) by 125 EUR/mt, Tetrahydrofuran (THF) by 100 EUR/mt, polytetramethylene ether glycol (PolyTHF) by 75 EUR/mt, N-Methyl-2-Pyrrolidone (NMP) by 75 EUR/mt, by Gamma Butyrolactone (GBL) by 100 EUR/mt.

BDO and its derivatives are used for producing engineering plastics, polyurethanes, solvents and elastic spandex and elastane fibers.

PolyTHF is a registered trade mark of BASF Group in many countries.


PetroChina not seeking extra Russian oil via pipeline

(reuters) -- PetroChina , Asia's largest oil and gas producer, will not buy extra Russian crude oil via the Russia-China pipeline, the company chief said on Monday, after the two sides recently resolved a price dispute.

Jiang Jiemin, chairman of PetroChina, also said China and Russia still differed on prices in protracted gas supply talks, under which Russia aimed to eventually sell up to 68 billion cubic metres of gas per year to China under a 30-year deal.

Russia's Rosneft last month made a small price concession to China, the single largest buyer of oil from its new eastern fields, to resolve a long-running dispute, raising hope that China could bargain for more Russian crude via the East Siberia-Pacific Ocean (ESPO) pipeline.

Russia has said China has been underpaying for the 300,000 bpd Russian supples, while China said Russia levies excessive transit fees. "Currently, we don't have a plan to raise the import volume," Jiang said. Asked if PetroChina would in the future raise imports from the current agreed 300,000 bpd level, he said: "We have not yet discussed the issue."

PetroChina, China's second-largest state oil refiner next to Sinopec Corp , suffered more than 50 billion yuan (USD8 billion) losses at its refining department last year and that loss was "still expanding", Jiang told reporters on the sidelines of China's annual parliament session.

WACKER expands polymer site in China and builds two new production facilities

(wacker) -- Wacker Chemie AG is expanding its Chinese polymer activities by investing around EUR40 million in building two new production facilities at its Nanjing site.

As announced by the Munich-based chemical group today, it is expanding the site's existing facilities for vinyl acetate-ethylene copolymer (VAE) dispersions by adding a new reactor with an annual capacity of 60,000 metric tons. This measure will double Nanjing's VAE dispersion capacity to approx. 120,000 metric tons per year, making the complex one of the biggest of its kind in China.

The new reactor is scheduled to come on stream in mid-2013. At Nanjing, WACKER is also building a new plant to produce polyvinyl acetate (PVAc) solid resins with an annual capacity of 20,000 metric tons. This plant is due for completion in early 2013.

British Polythene announced preliminary results of 2011

(bpipoly) -- Sales increased to GBR508 million (2010: GBR478 million) and operating profit, before net restructuring, increased to GBR21.6 million (2010: GBR17.9 million) reflecting another excellent performance from our European operations.

Adjusted profit before tax (before net restructuring gains* and net pension financing) rose by 21% to GBR19.1 million (2010: 15.8 million). Adjusted diluted earnings per share were 46.92p (2010: 38.31p), an increase of 22.5%.

On a statutory basis, the profit before tax was GBR19.2 million (2010: GBR16.7 million). Diluted earnings per share were 50.25p (2010: 51.07p).

Final dividend per share increased to 8.50p per share (2010: 7.85p), making a total for the year of 12.5p per share (2010: 11.5p). Net borrowings reduced to GBR31.0 million (2010: GBR45.6m).

British Polythene Industries (BPI) is one of Europe's largest producers of polyethylene packaging. It's also one of the largest recyclers, touting its firsts in recycling techniques for polyethylene scrap. The company's wares include packaging for consumer care products, frozen foods, snacks, cigarettes, and candy. BPI also makes film products including shrink, stretch, laminate, and coated films designed to protect goods in transit. Industrial products include heavy-duty sacks used by the chemical, horticulture, aggregate, and animal feed industries. BPI's recycled products division makes such items as molded outdoor furniture, refuse and recycling sacks, agricultural, and construction films.


Contract price of Russian PE100 grew by Rb1,500/tonne

MOSCOW (MRC) -- Kazanorgsyntez announced the increase in contract prices of coloured PE100 by Rb1,500/tonne. However, despite the beginning of March, many Russian converters are in no hurry to form additional stock inventories of pipe PE, according to ICIS-MRC Price report.

Due to the cold February the demand for pipe PE was weak in the Russian market last month. There was a slight revival in the market in early March, mostly resulted from the traditional spate of feedstock purchases in the beginning of each month. The supply of PE was also tight in the market.

Kazanorgsyntez announced an increase in contract price of black PE100 by Rb1,500/tonne, excluding VAT from 5 th of March. The company plans to suspend temporarily the production of black PE100 in the second half of the month. Spot quotations of PE2NT11-9 at the end of last week were at Rb66,000-67,000/tonne, VAT, FCA Kazan.

Despite such a significant rise in prices of the Russian Black PE100, many converters do not hurry to form additional stock inventories. A losing February, the absence of significant orders for finished pipe in March, as well as the presence of uncoloured PE100 (so-called uncoloured matrix) hold back many market participants. Companies are not ready to buy a more expensive colored material.

The March prices in the foreign markets grew more significantly. European producers have raised export prices of black PE100 for delivery in the current month to EUR1,400-1,500/tonne, FCA. Asian producers offer coloured PE100 for March on average for USD1,650-1,680/tonne, FOB.