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(hydracarbonprocessing) -- Joint venture partners Sumitomo Chemical and Saudi Aramco are moving ahead with phase two of their Petro Rabigh integrated refinery and petrochemicals expansion in Rabigh, Saudi Arabia, the companies announced on Friday.
A recently-completed study has confirmed the feasibility of the Rabigh II project, after which the companies finalized various project elements, they said.
Those include agreements for engineering, procurement and construction (EPC) and other project contracts, as well as project financing.
Each plant will be brought on stream as it becomes available for operation, beginning the first half of 2016, the companies said.
It is envisaged that, subject to the necessary corporate authorization procedure at PetroRabigh, Petro Rabigh will serve as the project company for the Rabigh II Project.
The total investment is projected to reach USD7 billion. Sumitomo Chemical and Saudi Aramco each have a 37.5% stake in Petro Rabigh.
The Rabigh II project’s main products will be ethylene propylene rubber (EPDM), thermoplastic polyolefin (TPO), methyl methacrylate (MMA) monomer, polymethyl methacrylate (PMMA), low density polyethylene/ethylene vinyl acetate (LDPE/EVA), paraxylene/benzene, cumene and phenol/acetone.
Capacity information was not disclosed.
MRC
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Aramco, Sumitomo approve second phase of Saudi petrochemicals expansion
Global rubber market to see significant uprise in consumption
(chemmonitor) -- Consumption of rubber in the global market is likely to increase to almost 27 million metric tons in the existing year.
The hike in demand for the product will result from the growing urban population, green mobility and modern requirements for synthetic rubber used in green tires production. By the way, the new requirements will be effective from November 2012.
The total number of cars in the world is forecast to reach about 3 billion in about twenty years.
MRC
The hike in demand for the product will result from the growing urban population, green mobility and modern requirements for synthetic rubber used in green tires production. By the way, the new requirements will be effective from November 2012.
The total number of cars in the world is forecast to reach about 3 billion in about twenty years.
MRC
PET firms in S Korea obtain a lower profit
(chemmonitor) -- India and China-based polyethylene terephthalate (PET) film companies will continue obtaining lower profit from their operations in South Korea as local government decided to prolong anti-dumping duties on the material coming from the above mentioned countries.
The duties are 15.6 percent on average. They act as a measure required to improve financial performance of PET manufacturers from South Korea.
Same duties effective during a three-year period were imposed in October 2008. They expired last year.
MRC
The duties are 15.6 percent on average. They act as a measure required to improve financial performance of PET manufacturers from South Korea.
Same duties effective during a three-year period were imposed in October 2008. They expired last year.
MRC
Polyethylene remained under negative pressure in May in N America
(chemmonitor) -- A large number of ethylene production units in April and this month in North America created increased availability of the material.
This affected performance of downstream polyethylene (PE). The PE market was also impacted by the purchasing activity downturn as local users had previously built their inventories. Lower crude quotes influenced PE operations in May, as well.
North America PE traders could maintain price stability through the first week of the month.
BOPP film industry continued to show robust growth
(polyestertime) -- The BOPP film industry continued to show robust growth during 2011 with demand advancing by 5.5% compared with 2010 to top 6 mln tons for the first time according to a latest report on the global BOPP film market from AMI Consulting.
Demand growth was slightly down on 2010 which had been the bounce back year from the financial crisis for most markets around the world. Global demand is increasingly being driven by developments in Asia, particularly in China, India and Indonesia.
With over 60% of BOPP usage occurring in food packaging, it is the growth in demand in these countries for an ever-widening variety of packaged foods sold through supermarket outlets that is one of the principle drivers for this material. With large, youthful and growing populations, increased urbanisation and rising incomes it is the developing markets of Asia that will continue to underpin growth in BOPP film demand.
AMI's analysis shows that China alone now accounts for 40% of global production and demand and on its own accounted for 2 percentage points of the global growth achieved in 2011. It accounted for 95% of all new capacity installed in 2011. Although production has and will continue to be primarily to serve the domestic market, the volume of output now is such that even modest export volumes have the potential to disrupt other markets.
MRC
Demand growth was slightly down on 2010 which had been the bounce back year from the financial crisis for most markets around the world. Global demand is increasingly being driven by developments in Asia, particularly in China, India and Indonesia.
With over 60% of BOPP usage occurring in food packaging, it is the growth in demand in these countries for an ever-widening variety of packaged foods sold through supermarket outlets that is one of the principle drivers for this material. With large, youthful and growing populations, increased urbanisation and rising incomes it is the developing markets of Asia that will continue to underpin growth in BOPP film demand.
AMI's analysis shows that China alone now accounts for 40% of global production and demand and on its own accounted for 2 percentage points of the global growth achieved in 2011. It accounted for 95% of all new capacity installed in 2011. Although production has and will continue to be primarily to serve the domestic market, the volume of output now is such that even modest export volumes have the potential to disrupt other markets.
MRC