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MOSCOW (MRC) -- Iran has opened a new petrochemical plant in the western province of Kermanshah, said Chemicals-technology.
The Kermanshah Polymer Petrochemical Plant has an annual production capacity of 300,000t of heavy polyethylene. It will employ nearly 1,500 people and is also expected to market nearly USD429mln petrochemical products annually.
As MRC wrote earlier, Iran has also launched two other petrochemical projects, which include Kavian Petrochemical Complex and the West Ethylene Pipeline in Assaluyeh, both located in the onshore installations of the South Pars Gas Field, Persian Gulf.
Kavian Petrochemical Complex, with a capacity of 2.18 million tonnes per annum for petrochemical production, is the main source of ethylene for the West Ethylene Pipeline.
Iran has expanded the range and volume of its petrochemical products over the past few years. A few days ago MRC wrote, Iran’s National Development Fund (NDF) has allocated 3.6 billion dollars to the development of the country’s petrochemical industry.
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European export prices of PE for CIS markets grew by EUR20-50/tonne
MOSCOW (ICIS-MRC) – European makers announced increase in export prices of PE for the CIS markets by EUR20-50/tonne, on high costs of feedstock, low margins and reduced capacity utilization, according to ICIS-MRC Price Report.
Though the contract price of ethylene in Europe for January remained at the level of December - EUR1,275/tonne, FD NWE, European makers aim to raise export prices of polyethylene (PE) by EUR20-50/tonne.
The smallest price increase was announced on low-density polyethylene (LDPE). The deals for European LDPE for January were agreed at EUR1,320-1,380 per tonne, FCA. The price of high-density polyethylene (HDPE) grew by EUR30-50/tonne, from December. This week the deals were discussed at EUR1,280-1,360/tonne, FCA.
At the same time, there are some exceptions. On weak demand some European makers left the December prices of coloured pipe PE100 for January deliveries. Some companies said that they managed to get price cuts by EUR20/tonne, compared with December.
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Asian PET prices rose by USD40/tonne in the first week of the year
MOSCOW (ICIS-MRC) -- Asian PET markets start the year with an on-going upward price trend. In the first week of January, the price offer for bottle PET in Asia grew by USD40/tonne, which affected purchasing prices of Russian importers, according to MRC Price report.
The price offer of Chinese PET, including delivery to the Central region of Russia, increased to the level of USD1,630-1,640/tonne, DAP Moscow, excluding VAT. The price of the Korean material rose to USD1,630-1,650/tonne, DAP Moscow, excluding VAT.
Given the established exchange rate of the Russian rouble (1USD=30.26RUB) and the level of the current export PET prices in Asia, the cost of one tonne of the material, including delivery to Russia, will make Rb62,300-63,200/tonne, CPT Moscow, including VAT (including the cost of borrowing monetary resources - 2%).
As it was already mentioned, in anticipation of a price rise major Russian importers increased purchasing volumes in the foreign markets already in November, 2012. Those shipments will be available in Russia in January-February, reported a major Russian converter. We remind that still in November the price offer for PET in Asia was at the level of USD1,450-1,515/tonne, DAP Moscow, excluding VAT.
Following the price rise of imported PET, domestic granulate makers are going to increase their prices. However, demand in the spot market in January will play a crucial part. In the last week of the past year, spot prices of Russian PET were voiced at the level of Rb61,000-63,000/tonne, CPT Moscow, including VAT.
MRC
ExxonMobil commenced startup operations at Singapore petrochemical plants
MOSCOW (MRC) -- ExxonMobil has started operations at one of the world's largest ethylene steam crackers, the centerpiece of the company's multi-billion dollar expansion project at its Singapore petrochemical complex, according to hydrocarbonprocessing.
A new 220-megawatt cogeneration plant joins with the existing 140-megawatt cogeneration facility to power ExxonMobil's expanded Singapore petrochemical complex. Cogeneration is significantly more efficient than producing steam and power separately and reduces greenhouse gas emissions, according to the company.
The expansion adds 2.6 million tpy of new finished product capacity. It includes two new polyethylene (PE) plants, a polypropylene (PP) plant, a metallocene elastomers unit, an oxo-alcohol unit and an aromatics expansion, all of which are completed and beginning operation. Ethylene production is expected to start in the next few months.
The expansion makes the Singapore facility ExxonMobil's largest refining and petrochemical complex. It also marks the first production by ExxonMobil of its proprietary specialty elastomers and metallocene-based polyethylene in the Asia Pacific region.
As MRC reported earlier, in October 2012, Exxon Mobil announced its plans to increase its petrochemical manufacturing output through the expansion of its Baton Rouge and Port Allen plants in Louisiana.
ExxonMobil is the largest non-government owned company in the energy industry and produces about 3 percent of the world's oil and about 2 percent of the world's energy.
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Petrobras broke a new record in refining
MOSCOW (MRC) -- Brazilian multinational oil and energy company Petrobras on January 1st processed its largest volume of oil in a single day, according to the company's statement. The company's production reached 2.111 million barrels, reported Brazil-Arab News Agency.
The previous record was breaken on August 12 and made 10,000 barrels less than the present amount. According to Petrobras, the volume was reached without compromising the trustworthiness of installations and without risks to safety and to the environment.
As MRC reported earlier, Petrobras plans to launch the first of its new refineries in November 2014. The second line will be put in operation in May 2015. The refinery will add 230,000 bpd of processing capacity.
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