Commodity Chemicals
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--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, May 14- China's slumping naphtha imports go a long way to explaining why industrial output growth has been muted and why it may not accelerate much in coming months. Another factor that explains some of the weakness in naphtha imports is the increased refining capacity in China.
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SEOUL/ SINGAPORE, May 13- Petrochemical firms risk creating a glut of high-end products in Asia as they invest billions of dollars to move up a value chain threatened at the bottom end by cheap U.S. ethylene.
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May 7- Dow Chemical Co has received $2.2 billion in damages from Kuwait's state chemicals company, bringing an end to a more than four-year dispute over a scrapped plastics joint venture. Last year the International Chamber of Commerce's International Court ruled that PIC had violated its agreement with Dow Chemical.
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SINGAPORE, May 7- The Asian naphtha price rose on Tuesday for the third straight session to a four-session high of $862.00 a tonne but its intermonth spread stayed at $10.50 a tonne after falling to a three-week low on Monday due to heavy supplies.
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BEIJING, May 7- China's Huabei Petrochemical Company, a subsidiary of oil major PetroChina, is expected to double its refining capacity by the end of 2014, two years behind its original plan, industry officials said on Tuesday.
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LONDON, May 7- Naphtha and gasoline cracks edged higher on Tuesday, but the overall demand picture remained weak due to lower U.S. demand for light ends and outages of major petrochemical crackers. Shell's Moerdjik cracker in the Netherlands is expected to resume production towards the end of this week, traders said, after a problem in late April.
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BEIJING, May 3- Petrochemical firm Dragon Aromatics plans to begin trial operations of its delayed $3 billion paraxylene plant on China's southeast coast later this month, a company official and industry sources said.
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LIMA, May 1- Brazilian conglomerate Odebrecht plans to invest $20 billion globally over the next three years, mostly in Latin America and much of it in Peru, the company's chief executive said on Wednesday. Chief Executive Marcelo Odebrecht said about 85 percent of overall investments would be made in Latin America.
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The firm recorded a third-quarter net profit of 1.24 trillion Indonesian rupiah, jumped from 265.04 billion Indonesian rupiah at the same period last year on sales that were up 160 percent to 2.08 trillion Indonesian rupiah.- Coal miner PT Indo Tambangraya Megah plans to spend $90 million on investment to expand its ports in Bontang and Bunyut, said finance director Edward Manurung, adding that the new port in Bontang will have capacity of 30 million tonnes, up from current 20.5 million tonnes.
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SINGAPORE, April 30- Asian naphtha and gasoline margins were at a three-session low of $85.70 a tonne and $6.46 a barrel respectively, weighed down by ample supplies.
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SINGAPORE, April 30- Lotte Chemical has bought a first-half June naphtha cargo, with traders estimating the level at $8.50 a tonne above Japan quotes on a cost-and-freight basis, the lowest premium seen in South Korea in about five months, Reuters data shows.
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*Formosa buys small quantity at 1- digit premium. This is the smallest volume of naphtha Formosa has bought for this year's delivery, they added. It was not immediately clear what premium Formosa had paid, but traders estimated levels around $7.00 a tonne to Japan quotes on a cost-and-freight basis.
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Cramer said some companies are working despite their exposure overseas. Here's one.
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*No gas agreements announced during the Russia- Japan summit. MOSCOW, April 29- Russia and Japan failed to clinch any major agreement on energy during Prime Minister Shinzo Abe's visit to Moscow, falling short of hopes for cooperation to help meet the needs of the world's largest LNG importer.
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RIYADH, April 27- Saudi Kayan Petrochemical Co has brought its ethylene oxide/ethylene glycol plant back into operation after scheduled maintenance and will soon restart other shuttered plants, it said on Saturday. The unit of Saudi Basic Industries Corp has not yet reached full production after being set up in 2007..
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*Q1 refinery runs at 4.76 mln bpd, +5.9 pct on yr. *Q1 crude throughput +330,000 bpd vs 2012 average. BEIJING, April 26- The following table shows operational results of top Asian refiner Sinopec Corp.
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began operating its refinery at expanded capacity and the data also now includes the 120,000 bpd Bina plant in central India. During 2012/ 13, India's oil output declined 0.3 percent to about 760,400 bpd. Crude processing by the 180,000 bpd Bathinda refinery, jointly owned by state-run Hindustan Petroleum Corp.
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*Petchem shares weigh on Saudi stock market. DUBAI, April 25- Pessimism over Saudi Arabia's petrochemical industry has pushed shares in the sector down sharply, dampening the biggest Arab stock market.
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BEIJING, April 15- China's implied oil demand fell to its lowest in seven months in March, dented as big consumers held off from buying in anticipation of a cut in prices, while refiners scaled back crude runs and raised exports to trim high fuel stocks.
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BANGKOK, April 4- The annual maintenance shutdown of gas fields in Myanmar doesn't normally make headlines in Thailand, but this year shows the failure of Thai electricity generation to keep up with economic growth.