BP Declares Force Majeure on VAM

BP says it has declared force majeure on vinyl acetate monomer (VAM) at Hull, U.K. for July due to continuing production problems. BP produces 230,000 m.t./year of VAM at Hull. Customers have been on 80% allocation for July deliveries since the outage, a BP spokesperson says. Owens: Prices will continue to rise. The company is trying to run the unit at a steady rate, although at reduced volumes, “to meet as much of the demand as possible,” BP says. “Unfortunately, it’s not producing at a level that it can produce stocks yet,” causing...

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