LyondellBasell calls off PDH project to focus on capital discipline

LyondellBasell will not build a propane dehydrogenation (PDH) project in the US as it focuses on capital discipline and phasing in growth projects. “We do not intend to build a greenfield cracker in the US, and we do not intend to build PDH in the US - that I can take off the table,” said Bob Patel, CEO of LyondellBasell, at the company’s investor day meeting in Houston, Texas, US.

HIPS and GPPS imports to Kazakhstan fell by 28% in Jan-Jul 2019

Overall imports of general purpose polystyrene (GPPS) and high impact polystyrene (HIPS) to Kazakhstan decreased in the first seven months of 2019 by 28% year on year to 3,780 tonnes from 5,100 tonnes, according to MRC’s DataScope report. July imports of material into the country grew by 12% to 700 tonnes from 600 tonnes a month earlier. HIPS and GPPS imports into Kazakhstan were 1,100 tonnes in July 2018.

Potash producers 'must survive Q4' amid market downturn

A major shake-up in global potash market share appears to be on the horizon, as muriate of potash (MOP) major Uralkali and nitrogen player URALCHEM are set to become the controlling shareholders in Brazilian fertilizer firm Fertilizantes Heringer SA, which is currently under bankruptcy protection.

Hungary’s MOL breaks ground on 200,000 tonne/year polyol project

MOL has broken ground on its 200,000 tonne/year polyol production project at Tiszaujvaros in northern Hungary, the crude oil and petrochemicals major said on Friday. The €1.2bn project, expected to start up in 2021, received €131m in financial support and incentives from the Hungarian government. Its production processes will include technologies provided by German engineer thyssenkrupp and specialty chemicals company Evonik.

 US September PP contracts settle higher, tracking propylene

US September polypropylene (PP) contracts were assessed 1 cent/lb ($22/tonne) higher, tracking an equivalent rise in the September propylene contract. US PP contracts are typically formula-based and are set at feedstock polymer-grade propylene (PGP) values plus an adder. Adders have been under pressure in recent months as PP demand has been sluggish while supplies have remained long.

Industry urged to innovate business models for reclaiming degraded land

Government of India has offered 90 million hectares of degraded land, or 30% of India’s total land area, to industries that can reclaim the land and give it some economic value. Speaking at a conference on ‘Role of Business and Industry in Land Restoration, Utilization of Degraded and Wasted Land’, organised by FICCI as a run-up to the COP-14 United Nations Convention to Combat Desertification (UNCCD), Mr. Jain urged the industry to come up with business models for reclaiming degraded land.

Enterprise switches process tech for new US PDH plant

Enterprise Products's planned second propane dehydrogenation faciltiy (PDH2) in the Mont Belvieu, Texas, will run on a different technology than the company's first one. The first PDH runs on the Lummus CATOFIN process technology whereas, for PDH2, Enterprise has licensed Honeywell UOP’s Oleflex technology.

China's phenol market eyes on Oct demand recovery

China's domestic phenol market is bracing for a demand recovery after the 70th China National Day holiday (1-7 October 2019), with buying to take place gradually. Prior to a demand rebound, participants expect buying to weaken and prices to fluctuate slightly in the lead-up to the upcoming Golden Week holiday, citing shutdowns, cutbacks and restricted highway transportation in some regions.

Slowdown fails to dampen pharma exports; up 22% in July

Notwithstanding recessionary trends, pharmaceutical exports surged 21.7 per cent in July this year while in the first quarter ended June the growth was 11 per cent. "It’s a big jump when the economy has been witnessing a slowdown in some sectors," Mr. R. Uday Bhaskar, Director-General, Pharmaceutical Exports Promotion Council (Pharmexcil), said at a press conference recently.

India agrees to lower import duties on Indonesian palm oil

India has agreed to reduce import duties on Indonesian processed palm oil to 45 per cent bringing about parity with imports from Malaysia. The decision was taken by India in a meeting between Commerce & Industry Minister Mr. Piyush Goyal and his Indonesian counterpart Mr. Enggartiasto Lukita on the sidelines of the 51st ASEAN Economic Ministers’ Meeting (AEM) in Bangkok, Thailand, recently.

Polystyrene business: Thriving in challenging times

Polystyrene (PS) is a versatile material used to make a range of consumer products. It is often used in products that necessitate clarity such as food packaging and laboratory ware. In combination with numerous additives, colorants, and other plastics, PS is used to manufacture appliances, automobile parts, electronics, toys, equipment, etc.

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