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Indonesia TPPI restarts aromatics plant after 15-month shutdown [ 24 Jun, 2009]
Indonesia's Trans-Pacific Petrochemical Indotama has restarted its aromatics complex at Tuban, East Java, an industry source said Wednesday, ending a prolonged shutdown of about 15 months.
Although current production rates were not disclosed, TPPI expects to start shipping paraxylene and benzene cargoes in July, the source said, adding that the restart began over June 16-17.
The country's largest aromatics producer by capacity, declared force majeure on February 25 last year, and shut its complex over March 1-2. Both actions took place after strong waves destroyed a breakwater that surrounded the East Java port in February, crippling the company's ability to load petrochemical products for sale and receive condensate feedstock.
The breakwater has been repaired and TPPI received its first condensate feedstock in May. Platts reported that the company's first straight run kerosene and diesel will be supplied to Pertamina in late June or early July.
Source: Platts Petrochemical Alert.
US benzene prices open softer as crude prices fall [ 17 Jun, 2009]
US benzene prices opened trading softer on Wednesday, following crude prices lower. During morning trading, the NYMEX July crude oil price fell as low as $69/barrel -- down about $1.50 -- before rebounding to near $70/barrel before noon EDT.
This drop in crude prices caused benzene buyers to open with bids at 268 cents/gal for June and July. Offers were at 279 cents/gal for June and at 276 cents/gal for July. June on Tuesday was assessed at 275 cents/gal FOB USG, while July was assessed at 274 cents/gal FOB USG.
As crude rebounded from its morning low, benzene bids climbed to 270 cents/gal for June, while offers fell to 277 cents/gal. July bids stayed at 268 cents/gal, while offers fell to 275 cents/gal.
August was talked at a 4- to 5-cent discount to July, with bids at 263 cents/gal, and offers at 272 cents/gal.
Source: Platts
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