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MOSCOW (MRC) -- The only producer of polyethylene terephthalate (PET) in Belarus, Mogilevkhimvolokno will not resume production of polyethylene terephthalate (PET) in December, according to ICIS-MRC Price Report.
The producer had shut its PET production in early November. Seasonal drop in demand and decrease in PET price in external markets made an unfavourable situation for the resumption of production in December. In connection with this the company plans to restart its PET capacities in 2014.
The producer has not announced its PET contract prices for December shipment. Stock inventories from the warehouse were sold at the November price. The company has stopped spot sales for the Ukrainian and Russian markets.
The producer plans to cover its concluded earlier contracts, using the stock inventories.
Mogilevkhimvolokno, based in the Mogilev region of eastern Belarus, is the only Belarusian producer of dimethyl terephthalate, PET chips, including food grade, polyester fibers and yarns.
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Belarus will not produce PET in December
PS were not produced in November in Ukraine
MOSCOW (MRC) -- Concern Stirol, the only polystyrene (PS) producer in Ukraine, has not resumed production of styrene polymers after an outage in October, according to ICIS-MRC Price report.
A shortage of the main feedstock component - styrene monomer (SM) - was the cause of the plant's shutdown. SM shipments to the plant were not resumed in sufficient quantities in November and, consequently, PS were not produced.
Since the outage was not scheduled, large inventories of material were not built up at the plant's warehouse. Therefore, PS stocks at the warehouse have already run out. According to unconfirmed information, the plant might restart operations in mid-December.
PS production in Ukraine fell in January-November by 17% year on year to 14,700 tonnes.
Concern Stirol is the only producer of styrene polymers in Ukraine. The plant produces such PS grades, as expandable polystyrene (EPS), general purpose polystyrene (GPPS) and high impact polystyrene (HIPS).
MRC
European December PVC price dropped by EUR10-20/tonne for CIS countries
Moscow (MRC) - European producers of polyvinyl chloride (PVC) had to reduce December export prices for CIS markets despite the rising prices of ethylene, according to ICIS-MRC Price Report.
Growing oil prices in the last week of November led to an increase in prices of ethylene in Europe. December contracts for ethylene in Europe were agreed up by EUR30/tonne, from the November's level. However, because of some reasons, European PVC producers had to cut export prices by EUR10-20/tonne for December delivery to the CIS markets.
Negotiations on European PVC prices for December have begun this week. Offer price from many European producers were heard in the range of EUR740-800/tonne FCA, while in November the deals were done in the range of EUR760-810/tonne FCA.
Decline in European PVC export prices resulted from significant weakening in demand in the CIS markets, as well as lower prices from North American producers (deals for November and December shipment were done at USD950-985/tonne CFR).
MRC
Growing oil prices in the last week of November led to an increase in prices of ethylene in Europe. December contracts for ethylene in Europe were agreed up by EUR30/tonne, from the November's level. However, because of some reasons, European PVC producers had to cut export prices by EUR10-20/tonne for December delivery to the CIS markets.
Negotiations on European PVC prices for December have begun this week. Offer price from many European producers were heard in the range of EUR740-800/tonne FCA, while in November the deals were done in the range of EUR760-810/tonne FCA.
Decline in European PVC export prices resulted from significant weakening in demand in the CIS markets, as well as lower prices from North American producers (deals for November and December shipment were done at USD950-985/tonne CFR).
MRC
European PE price to rise by EUR20-30/tonne for December delivery
Moscow (MRC) -- Negotiations on European polyethylene (PE) prices for December delivery to the CIS markets have begun this week. European producers have announced increase in PE price of EUR20-30/tonne on the back of rising ethylene price, according to ICIS-MRC Price Report.
December contracts for ethylene in Europe was agreed up by EUR30/tonne from the November's level. In this connection, the European producers have announced practically proportional price increase for December PE delivery to the CIS markets.
Negotiations on European PE prices for December began on 2 December. Offer price for the supply of high-density polyethylene (HDPE) was heard in the range EUR1,180-1,240/tonne FCA.
At the same time some European producers do not have the whole range of HDPE grades for export available. Offer price for black pipe PE100 was heard in the range range EUR1,250-1,300/tonne FCA.
The information about quotas volume was not disclosed.
Offer price for low density polyethylene (LDPE) was heard in the range of EUR1,260- 1,350/tonne FCA. Some market participants said that not all European producers had quotas for export delivery in December.
MRC
Chevron resumes Romania shale gas work
MOSCOW (MRC) -- US oil major Chevron has resumed work at what will be its first shale gas well in Romania after protests had earlier suspended operations, reported Upstreamonline.
The US supermajor in October suspended work at the Barlad concession near the north-eastern town of Silistea after protesters blocked access to the site.
"Chevron can confirm that it has resumed operations," Reuters quoted the company as saying in a statement.
"Our priority is to conduct these activities in a safe and environmentally responsible manner consistent with the permits under which we operate."
The suspension came after Pungesti local council decided to hold a non-binding referendum on 24 November on whether local residents would support Chevron’s shale exploration.
The US supermajor gained approval earlier this year to drill exploratory wells in the protest-hit area, and also holds rights to explore three blocks near the Black Sea spanning 670,000 acres.
As MRC informed previously, a second regional council in Ukraine on Thursday approved a government draft for a USD10 billion shale gas production-sharing agreement with US supermajor Chevron, clearing the way for it to be signed. Deputies in Lviv region voted by 66-to-3 in favour of the draft, which calls for shale exploration in the Olesska block in the west of the country. A council in the neighbouring Ivano-Frankivsk region, whose approval was also necessary, backed the deal last month in a 62-to-1 vote with 11 abstentions.
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States, and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. Chevron is one of the world's six "supermajor" oil companies.