BASF increases prices for polyurethane products in Europe

(BASF) -- With immediate effect, or as contract terms allow, BASF will be increasing its prices for MDI, TDI and Polyols in Europe on average by 250 Euro per metric ton. Prices for Polyurethane Systems will be increased accordingly.

BASF is the leading supplier of Polyurethane Solutions for systems, specialties and PU basic products. With its global network of 38 polyurethane system houses and its comprehensive product and service portfolio, BASF is the preferred partner of its customers in many industries. The BASF brand ⌠PU Solutions Elastogran represents over 40 years of experience of the market and technology leadership for Polyurethane systems and specialty elastomers in Europe.


SIBUR planning significant production growth in 2011

(SIBUR) -- By the end of 2010, SIBUR's enterprises produced 16.5 million tonnes of petrochemical products, which is 6% higher than the equivalent figure for 2009 (15.5 million tonnes).

The greatest growth in the petrochemical segment was recorded in the commodity business, as well as in the production of monomers (+12.2%) and synthetic rubbers (+27.7%). The decrease in the production of stable natural gasoline (SNG) was associated with an increase in the production of pentanes in the form of individual fractions.

The slight decrease in the production of polymers was due to the increase, in comparison with 2009, in the extent of repair stoppages in connection with the transition of the enterprises to a biennial overhaul cycle.

n 2011, there is expected to be an increase in the total production of petrochemical products to 18.8 million tonnes, an increase of 14.4% over the figure for 2010.


Exxon Mobil reported a better-than-expected increase in quarterly profit

(Reuters) - Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit, helped by a lower tax rate and an improving world economy that sparked higher demand for fuel and chemicals.

The Irving, Texas-based company's exploration and production results were also lifted by higher oil prices, which climbed 12 percent from a year earlier to average around $85 per barrel in the fourth quarter.

Exxon reported a fourth-quarter profit of $9.25 billion, or $1.85 per share, compared with $6.05 billion, or $1.27 per share in the same quarter a year earlier.

Shares of Exxon, the world's largest publicly traded oil company, rose 1 percent in premarket trading to $79.81, up from Friday's New York Stock Exchange close of $78.99.


The Egyptian unrest has shaken the Middle East markets

(ICIS) -- The Egyptian unrest has shaken the Middle East markets, with shares plunging in many countries in the region on Sunday. Meanwhile, the 192km Suez Canal has been operating as usual during the protests, with 45 to 50 ships passing through each day, a canal official told Reuters.

A company associate at Egyptian Petrochemicals Company (EPC) in Alexandria, Egypt, said that its refinery complex at Amerya was running ⌠as per normal, adding that email communications were still down on Monday.

EPC is a subsidiary of state-run oil firm Egyptian General Petroleum Corporation.

A Chinese polyethylene (PE) trader told ICIS that email and phone communications with an Egyptian producer had been down since Sunday. But any disruption in Egyptian PE and polypropylene (PP) supply would have limited impact as Egypt exports very little material to China, he said.

Egypt exported 9,351 tonnes of homopolymer polypropylene and 15,792 tonnes of high density polyethylene (HDPE) to China in 2010, according to China Customs data. These are 36% and 34% lower, respectively, than the 14,650 tonnes of homopolymer PP and 24,055 tonnes of HDPE exported in 2009, the data showed.


Poland gets polyethylene foam plant

(prw) -- Packaging and insulation producer Novostrat has launched what it claims will be Europe's biggest polyethylene foam plant in the Polish city of Olszyna in Lower Silesia.

The company, based in Pabianice, Poland, plans to export its entire output to countries in Western Europe, including France and Germany. The extruder located its largest production unit to date in a redundant furniture factory in an area close to Poland's borders with Germany and the Czech Republic.

Novostrat, already a supplier of PE foam packaging in Poland to global computer giant Dell, will produce PE foam material at the new facility for construction thermal and acoustic insulation and flooring underlay as well as for packaging.