Socar plans $20 billion investment in Petkim

(CNBC) -- Petkim Socar & Turcas Energy, Petkim's owners, plan to invest $20 billion by 2023 in the petrochemicals plant at Aliaga on the Aegean coast, Milliyet newspaper reported. According to senior official at Socar, Azerbaijan's state oil company, Socar & Turcas are interested in bidding for Baskent Gaz and Igdas, the state-owned gas grids in Ankara and Istanbul.

Petkim is the leading petrochemical company of Turkey, founded in 1965. Specializing in petrochemical manufacturing, the company produces ethylene, polyethylene, polyvinyl chloride, polypropylene and other chemical building blocks for use in the manufacuture of plastics, textiles, and other consumer and industrial products. The company has 14 manufacturing plants supplying a significant portion of petrochemicals used in Turkey. The company also exports products to the United States, and countries in Europe, the Middle East, Africa, and Asia.


Clariant's Polymer Additives Business increases prices

(Clariant) -- Clariant's Business Line Polymer Additives today announced global price increases of between 5 and 15% for its grades for plastics. The price adjustments are necessary to compensate for significant increases in raw material and transportation costs, alongside continuing high energy costs.

⌠We have absorbed significant cost increases already through production optimization and other efficiency increasing measures during the course of 2010, but further cost reductions programs would jeopardize the quality of service we deliver to our customers, comments Jerome Abrahmi, Head of Clariant's Polymer Additives Business Line.

Clariant customers will be contacted individually regarding the specifics of the price increases as they apply to their products and regions. New prices will be effective for all deliveries as of January 1st, 2011.


ABS consumption in the Russian market fell in October

MOSCOW (MRC) -- In October ABS supplies to the Russian market fell to the level of 3.84 KT at the expense of production suspension at Plastic (Uzlovaya), according to MRC DataScope.

As a whole, ABS market is demonstrating positive dynamics this year. January-October supplies of ABS exceeded 40 KT which is 79% more compared to the same period last year. Still more than 75% of consumed plastics are imported from Asia and Europe.

About 25% of the total volume of consumed ABS-plastics fall at the production of auto-parts. It is expected that the Russian government decision about extension of customs for cars imports will result in growing consumption of ABS-plastics in the Russian market.


In December LLDPE supplies to the Russian market will grow

MOSCOW (MRC) -- In December a considerable growth of linear polyethylene supplies to the Russian market is expected. The offer growth is expected due to imports as well as domestic production, MRC analysts say.

Nizhnekamskneftehim closed the production of linear polyethylene in October before scheduled maintenance. Kazanorgsyntez closed LLDPE production last October because of economical inexpedience.

Also because of October scheduled maintenance, there were no LLDPE supplies from Uzbekistan in November. As a result by the end of November in the Russian spot market there was no offer of butene LLDPE. The price offer for hexane polyethylene from Asia and Europe started from 65.000 rub./t.

In mid-December LLDPE production is to restart at Nizhnekamskneftehim. Also this week export bids in sales of PE from Shurtanskiy Mining & Chemical Combine were renewed. New polymers supplies from Uzbekistan are expected in the second decade of December. However the prices level won't exceed the November level.


PTT Chemicals' net profit seen growing 49% year on year in 2011

(ICIS) -- PTT Chemicals' (PTTCH) net profit is expected to grow 49% year on year in 2011 to Thai baht (Bht) 17.5bn ($58.24m), spurred by higher product prices and improving demand, DBS Group Research said on Thursday.

PTTCH's key product prices would increase ⌠across the board during the 2011-2013 period to reflect improving demand resulting from the global economic recovery and sustainable high crude oil prices, DBS said in a research report.

Prices of PTTCH's monoethylene glycol (MEG) and low density polyethylene (LDPE) were expected to increase to $1,000/tonne and $1,500/tonne respectively in 2011, as compared to $900/tonne and $1,350/tonne in previous estimates, the report said.

Revenue for the whole of 2011, meanwhile, was expected to grow 21.4% year on year to Bht 124.7bn, according to the research report.