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Phillips 66 to Stay on Polypropylene FM Amid Ongoing Maintenance and Repairs
May 20, 2022
Phillips 66 remains on a Polypropylene (PP) Force Majeure (FM) at its Bayway, New Jersey facility due to additional equipment failure and unplanned maintenance that is needed.
In a letter to customers this week, Phillips 66 said unplanned maintenance is required to resolve the equipment failure and it does not know the duration of the FM.
The company has been on a FM for PP since February after an unforeseen equipment failure and required unplanned maintenance related to the FCC unit at the Bayway Refinery. The FM was also due to ongoing interruptions in rail service required for PP deliveries.
Phillips 66's update comes as TotalEnergies also remains on FM for PP, while LyondellBasell and ExxonMobil are still on allocation programs for PP.
Meanwhile, PP producers are collectively pushing for May contract increase of $.06/lb, with one also pushing for a June contract increase of $.05/lb.
By The Plastics Exchange.
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