Dow Brazil announced Technology center in Sao Paulo

(Dow) -- Dow Brazil, global giant in the chemical and plastics sectors with operations in Brazil since 1956, announced the Technology and Market Development Center for Polyurethanes and Formulated Systems in the city of Jundiai, countryside of Sao Paulo.

With investments of US$ 2 million and official opening scheduled for January 2011, the lab extends over a 1,200 square meter area and will provide a number of services, including chemical and physical chemical analyses; equipment to simulate production of a wide range of PU applications; characterization of physical properties and preparation of samples to customers.

Dow has Technology Centers for Polyurethanes and Formulated Systems in other geographies, such as the United States, Europe and Asia. The integration of these centers will be a major distinguishing feature since it allows Dow to promptly access new technologies and trends and make them available in the market.

Dow is the largest global producer of propylene oxide (PO), propylene glycol (PG) and polyester polyols, and a major producer of quality aromatic isocyanates, which are essential components of the polyester polyols.


LUKOIL net income moved at $6,820 million in the nine months of 2010

(LUKOIL) -- LUKOIL published consolidated US GAAP financial accounts for the third quarter and nine months of 2010. The Company's net income was $6,820 million in the nine months of 2010 (including $2,818 million in the third quarter), which is 29.0% higher y-o-y. EBITDA increased by 17.1% in the nine months of 2010 and amounted to $11,985 million. Revenues from sales were $76,272 million.

Capital expenditures including non-cash transactions in the nine months of 2010 remained flat y-o-y and amounted to $4.7 billion. Strong financial discipline enabled the Company to generate record high free cash flow, which reached $6,964 million in the nine months of 2010, compared to $1,442 million in the nine months of 2009. Despite the share buy-back in the third quarter of 2010, which amounted to $4.42 billion, the Company managed to achieve good financial results.

The Company's tax expenses, including excise and export tariffs, totalled $22.3 billion in the nine months of 2010, including an income tax expense of $1.7 billion. Lifting costs per boe of production in the nine months of 2010 were $4.04, which is a 19.2% increase y-o-y. The growth was mainly due to the real rouble appreciation, which reached 14%.


PVC prices in the world markets are growing

MOSCOW (MRC) -- PVC prices keep on growing in North America; in December along with growing contract prices for ethylene it is expected that the resin prices will grow also in Europe, according to MRC Price market reports.

The growth of USA suspension prices is caused by limited ethylene offer in the domestic market. Olefins lack is a result of non-scheduled shutdowns of crackers at some production sites in USA which entailed the reduction in volumes of ethylene production. North American suppliers offer PVC for the Russian market within the range USD 1.060 - 1.100/t, CFR Saint-Petersburgh, for shipment in December.

Along with a drop in the euro versus dollar rate, the capacity of European producers to compete with import PVC is improving. Besides, at year-end a lot of market players will reduce to the maximum the volumes of resin purchases in the outer markets. All these factors will ease the imports pressure on European producers. And the growth of contract price for ethylene EUR 27/t is unlikely to result in prices growth in December in Europe.

It is a comparatively balanced situation that is observed now in the Russian market of PVC. There are definite problems with resin shipment to the domestic market and considerable reduction in imports. Despite the general growth of resin prices in the external markets, the level of December prices for PVC from the Russian producers remained without changes in comparison to November.


Arkema announced its 2015 targets

(Plastemart) -- Arkema announced its 2015 targets and emphasizes its growth strategy for the next five years. At the end of this new development phase, in 2015, Arkema has the ambition to generate above ┬1 bln EBITDA, corresponding to 14% (1) EBITDA margin.

Since its spin off in May 2006, Arkema has implemented a transformation strategy, which will enable it to double the Group EBITDA in 2010 vs 2005. The Group cost structure was significantly improved and the business portfolio was successfully repositioned on high added value products with a better geographical footprint.

For the next five years, Arkema will accelerate its growth strategy with the ambition to build one of the global industry leaders. Innovation, faster growth in emerging countries and bolt on acquisitions will be the main components of this development project. In 2015, Group sales should total around ┬7.5 bln (1) versus around ┬5.8 bln in end 2010.


Petronas Chemicals shares close off highs on Malaysia debut

(ICIS) -- Petronas Chemicals Group (PCG) shares closed 2.1% higher on its trading debut on Friday, but off highs, as Malaysian shares succumbed to profit-taking. PCG surged by as much as 10% during the session but eventually settled at ringgit (M$) 5.31, up 11 sen, at the end of trading. The price change was based on the initial public offering (IPO) price of M$5.20 set for institutional investors.

Meanwhile, the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (KLCI) eased 4.44 points, or 0.30%, to close at 1,492.05. PCG was the most actively traded stock on Bursa Malaysia, with 637m shares changing hands, indicating investors' strong appetite for Asian big-capital stocks.

The company's $4.1bn (┬3.1bn) IPO was the largest to come out of Malaysia and out of southeast Asia to date, beating the $3.3bn offering of telecommunications firm Maxis, according to media reports.

The group comprises the 22 petrochemical-related businesses of state oil and gas firm Petroliam Nasional Bhd (Petronas). Its operations cover olefins, polymers, fertilizers, methanol and other basic chemical and derivative products. Based on production volumes, the company is the largest methanol and ethylene glycols maker in southeast Asia.