Polymers Petrochemicals Shale Oil 27-04-2019
As previously announced European Plastics Converters (EuPC, Brussels / Belgium; www.plasticsconverters.eu) has launched the online platform “MOnitoring Recyclates for Europe” .
The platform is to register the plastics converting industry’s efforts to reach the European Commission’s target, which aims to ensure that 10m t of recycled plastics are incorporated into new products on the EU market by 2025 .
Both mechanical and chemical recycling volumes will be monitored.
Senior Notes due 2019-In February 2019, proceeds from the new senior unsecured term loan credit agreement discussed below were used to redeem the remaining $1,000 million outstanding of our 5% Senior Notes due 2019 at par. In conjunction with the redemption of these notes, we recognized non-cash charges of less than $1 million for unamortized debt issuance costs and $8 million for the write-off of the cumulative fair value hedge accounting adjustment related to the redeemed notes.
Commercial Paper Program-We have a commercial paper program under which we may issue up to $2,500 million of privately placed, unsecured, short-term promissory notes (‘commercial paper’). This program is backed by our $2,500 million Senior Revolving Credit Facility. Proceeds from the issuance of commercial paper may be used for general corporate purposes, including dividends and share repurchases.
LONDON: Oil prices dipped on Friday on expectations that OPEC will raise output to counter shrinking exports from Iran after sanctions imposed by the United States, where crude stocks have swelled.
Prices are still on course though for the longest run of weekly gains in years, as oil markets have tightened amid an OPEC output cut deal, sanctions on Venezuela and Iran and unsteady production in Libya.
Brent crude futures were at $74.24 per barrel at 0829 GMT, down 11 cents. U.S. West Texas Intermediate (WTI) crude futures were at $64.96 per barrel, down 25 cents.
The dip followed Brent’s rise above $75 per barrel for the first time this year on Thursday after Germany, Poland and Slovakia suspended imports of Russian oil via a major pipeline, citing poor quality.
UK based warp knitted technical textiles specialist Baltex will be showcasing a number of its latest innovations under the banner Advanced Surface Technology (AST) at the forthcoming Techtextil, which takes part in Frankfurt, Germany from 14-17 May 2019. Visitors can find out all about Baltex’ AST in Hall 3.1 stand G26.
“AST represents a further step in our focus on 3XD Spacer Fabrics,” commented Charles Wood, Baltex managing director.
During Feiplastic, BASF highlighted its biodegradable and compostable plastic, called ecovio, which it is marketing to meet new bag regulations in Uruguay and sustainability trends in Brazil, officials said on Thursday.
The material is made from polylactic acid (PLA) and polybutylene adipate terephthalate (PBAT), said Murilo de Barros Feltran, BASF product management & marketing manager, performance materials – South America. He made his comments on the sidelines of the Feiplastic trade show.
PLA is made from lactic acid, which is produced by fermenting sugars, he said. PBAT is made by a combination of renewable and nonrenewable feedstock.
During Feiplastic, BASF highlighted two new nylon grades that are intended to provide the aesthetic qualities of other materials while providing the durability of polyamides, officials said on Thursday.
Ultramid Deep Gloss is intended to match the glossy surfaces that characterise styrenics, said BASF director of performance materials for South America. He made his comments on the sidelines of the Feiplastic trade show.
At the same time, the material will also provide the chemical, mechanical and thermal resistance that are typical of polyamides.
Performance Days will display extraordinary fabrics with special benefits under the topic ‘Beyond Conventional Function’ at the Performance Forum. ‘The Beauty Of Function’ is the main theme at the trade fair for functional fabrics and accessories to be held on May 8-9, 2019 in Munich. The show will present functional fabrics for sports and work clothing.
Around 300 exhibitors will present various interpretations of beauty across all categories in their functional fabrics.
The Performance Jury have selected fabrics from well over 1,100 manufacturer submissions; not only fabrics with an interesting look and feel with essential functions like climate regulation and weather protection for sports, but also fabrics that provide the wearer of the garment with additional benefits and special comfort, according to a press release on the show.
The European polyethylene terephthalate (PET) market is being pulled in different directions for May, just as the peak season should be gathering momentum.
– Demand moderate
– Sellers hope activity will pick up with season
– ‘General trend a concern, creating a downward spiral’ – trader
Demand has been moderate and the mood in general far from buoyant, yet sellers are holding onto the hope that the seasonality of the product will prevail.
Spring/summer is usually boom time for sales of PET bottles.
Weather conditions have been unpredictable and production cost expectations have been variable.
Azerbaijan’s state energy company SOCAR and British petroleum giant BP seek to commence the construction of a $1.8-billion petrochemical plant in Turkey by the end of 2020, with completion expected by 2023
The State Oil Company of the Azerbaijan Republic (SOCAR), the largest direct foreign investor in Turkey, and BP plan to start construction of a new petrochemical plant in Turkey at the end of 2020, according to SOCAR’s Turkey Enerji project director.
BP and SOCAR in late 2018 signed a Heads of Agreement (HoA) to evaluate the formation of a joint venture to build and operate a world-class petrochemicals complex in Turkey.