Indorama Ventures enters the Dow Jones Sustainability Index for the first time

MOSCOW (MRC) -- Indorama Ventures Public Company Limited (IVL), a global chemical producer, has announced that the company has been listed in the Dow Jones Sustainability Index (DJSI Emerging Markets) for the first time as published by RobecoSAM, said the producer in its press release.

The inclusion confirms IVL’s excellent performance among the world’s leading companies in the chemical sector and its commitment to leadership in sustainability.

The Dow Jones Sustainability Indices (DJSI) is a leading global benchmark in corporate sustainability and socially responsible investment. The indices are offered cooperatively by RobecoSAM and S&P Dow Jones Indices. Every year DJSI conducts the assessment to ensure that companies continue developing in terms of sustainability. The ranking is based on a comprehensive analysis and evaluation of economic, environment and social performance.

Commenting on this achievement, Mr. Aloke Lohia, Group CEO of Indorama Ventures, said, "We aspire to be a world-class chemical company making great products for society. Being included by DJSI and ranked among top five of all global chemical companies is an important milestone for us. This truly reflects our sustainability leadership within the industry and the progress we are making in our sustainability journey on a global scale. We will continue to make the most positive possible impact on society to create a better future for all".

As MRC reported earlier, in March 2016, IVL and India's Dhunseri Petrochem Ltd. (Dhunseri) agreed to enter into an equal joint venture to manufacture and sell polyethylene terephthalate (PET) resins for Indian domestic markets and for exports.

Indorama Ventures is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europe and North America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial. The company’s main products are PTA, PET and polyester fibre, which are distributed across the world.

Iran plans to trim condensate exports to Asia in October

MOSCOW (MRC) -- The National Iranian Oil Co has informed buyers in Asia that it could reduce condensate exports in October because of maintenance at the South Pars gas field, six industry sources said on Tuesday, as per Hydrocarbonprocessing.

NIOC could trim exports by at least 1 MMbbl that month, one of the sources said. The company typically exports about 15 MMbbl of South Pars condensate each month.

The drop in Iranian condensate exports in October comes as China’s Unipec is about to resume cargo liftings from Iran in October, a second source said. The trading arm of Asia’s largest refiner Sinopec typically halts imports in summer months due to environmental restrictions at Chinese ports.

Demand for Iran’s condensate is also on the rise as test runs continue at a new splitter operated by its Persian Gulf Star Refinery at Bandar Abbas, the sources said.

A rise in Chinese demand and a drop in Iranian supplies have supported values for Qatari condensate. Spot premiums for low-sulfur condensate (LSC) in November are up about 70 cents from the previous month.

Condensate is an ultra light oil that is processed in splitters to produce mainly naphtha, a petrochemical raw material.

As MRC reported before, in April 2016, the CEO of France's Total, Europe’s third-largest oil company, said in April 2016 that the company's priority on getting back into Iran's energy sector was gas and petrochemicals. And earlier, in March 2016, The National Petrochemical Company (NPC) of Iran and Total signed an memorandum of understanding (MoU) to build a petrochemical complex in Iran.

Besides, in July 2017, Total signed a deal with Tehran to develop phase 11 of Iran's South Pars, the world's largest gas field, marking the first major Western energy investment in the Islamic Republic since the lifting of sanctions against it. Total will be the operator with a 50.1 percent stake, alongside Chinese state-owned oil and gas company CNPC with 30%, and National Iranian Oil Co subsidiary Petropars with 19.9%.

PVC imports to Belarus rose by 50% in the first seven months of 2017

MOSCOW (MRC) -- Overall imports of unmixed polyvinyl chloride (PVC) into Belarus grew in January-July 2017 by 50% year on year, totalling 18,900 tonnes, according to MRC's DataScope report.

According to the statistical committee of the Republic of Belarus, local converters slightly reduced their purchasing of unmixed PVC in July, total imports were 3,600 tonnes, compared to 3,900 tonnes a month earlier. Thus, PVC imports rose in the first seven months of 2017 to 18,900 tonnes from 12,600 tonnes in January-June 2016, with local windows producers accounting for the main increase in demand.

Russian producers were the key suppliers of resin to Belarus. They accounted for about 83% of the Belarusian market in the first seven months of the yearGermanin producers with the share of about 15% were the second largest suppliers.


PC production in Russia down by 9% in January-August 2017

MOSCOW (MRC) - Polycarbonate (PC) production at the Kazanorgsintez plant in August amounted to 5,100 tonnes against 1,500 tonnes a month earlier, according to the ICIS-MRC Price Report.

Production of the extrusion grade PC-007 UL1 was 4,700 tonnes, or 91% of the production volume for the month. Because of Kazanorgsintez 's shutdown for maintenance in July overall production at the plant dropped by 9% in the first eight months of 2017 to 43,600 tonnes from 48,000 tonnes a year earlier.
The output of extrusion grades was 37,700 tonnes or 86% of the total PC production in January-August 2017, compared to 42,400 tonnes or 88% for the first eight months of last year.

Exports of Kazanorgsintez's PC dropped by 28% year on year in the first eight months of 2017 to 4,900 tonnes from 6,800 tonnes a year earlier.

Supply of Kazanorgsintez 's PC into the domestic market dropped by 6% year on year in the first eight months of 2017 to 38,700 tonnes from 41,200 tonnes a year earlier.


PP imports into Belarus up by 3.2% in the first seven months of 2017

MOSCOW (MRC) - Imports of polypropylene (PP) into Belarus increased to about 54,200 tonnes in first seven months of this year, up 3.2% year on year, compared to the same period of 2016. Demand for all PP grades increased, as per MRC DataScope.

July PP imports into Belarus increased to 7,700 tonnes from 8,500 tonnes a month earlier, local companies cut their purchasing of propylene copolymers in Russia. Total PP imports into the country reached 54,200 tonnes in January - July, compared with 52,500 tonnes year on year.
Demand for all PP grades increased, but propylene copolymer accounted for the greatest growth.

Structure of PP imports over the reported period was as follows.

July imports of homopolymer PP to the Belarusian market rose to 6,000 tonnes from 5,500 tonnes a month earlier, shipments of injection moulding homopolymer PP increased. Total imports of homopolymer PP into Belarus were 37,200 tonnes in the first seven months of this year, compared with 36,100 tonnes year on year. The key suppliers of homopolymer PP were Russian producers, with their share in the total supply around 87%.

July imports of propylene copolymers into Belarus reduced to 1,700 tonnes against 3,000 tonnes a month earlier, the local companies decreased procurement of PP random copolymers in Russia. Thus, overall imports of propylene copolymers reached 17,000 tonnes in January-July 2017, whereas this figure was 16,400 tonnes a year earlier.