This is news about propylene from Vietnam's refinery

HANOI, Sept 19 (Reuters) - Japanese trading house Marubeni Corp has signed a contract to purchase up to 150,000 tonnes of propylene per year from Vietnam's first refinery Dung Quat, state media reported on Friday.

Under the contract signed between Marubeni and Dung Quat's owner state oil group Petrovietnam, the Japanese firm would buy all propylene from the refinery between 2009 and 2010, estimated at 75,000 to 150,000 tonnes per year, before the refinery's propylene facility is completed in 2010.

The product's price would be fixed in accordance with free-on-board prices of similar products in Singapore market, the Vietnam News Agency reported. It gave no value of the contract.

The 140,000-bpd refinery is expected to come onstream in February next year, meeting about 40 percent of Vietnam's demand for oil products.

Propylene along with ethylene, together called olefins, are used to make plastics and bottles, especially for the packaging industry. (Reporting by Nguyen Nhat Lam; Editing by Louise Heavens)

Via:.reuters.com