Published on January 20, 2020
Crude-to-Petchems Complex in Indonesia , Jakarta and Abu Dhabi National Oil Co. (ADNOC) and Pertamina have signed a memorandum of understanding (MoU) to explore the potential development of a crude-to-petrochemicals complex in Balongan, Indonesia. The two parties entered into a sales agreement, in which ADNOC will supply Pertamina with up to 528,000 t/y of liquefied petroleum gas by the end of 2020. CAP is planning to build a second petrochemical complex in Cilegon, which would include the pr ..
Published on July 11, 2019
On Wednesday day, closing crude values have increased. WTI on NYME closed at $60.43/bbl. Prices have increased by 2.60/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 2.85/bbl in compare to last closing price and was assessed around $67.01/bbl ..
Published on September 18, 2018
The year 2018 has been full of trade wars and part and counter-part measures on trade imports. July was the month when US imposed fresh set of trade tariffs on imports from China. Now it will impose tariffs on $ 200 bn worth of imports which include plastics and petrochemicals. The effect will come into existence on 24 of this month. Still international market is yet to digest this sanctions, the US government has come up with fresh set of tariffs. The current tariffs are 10% and will rise ..
Published on February 21, 2018
Presently methanol market is moving with stable-to-soft velocity. No major deals and discussion has been heard from end users. Domestic methanol prices were assessed at the level of Rs. 26.25/kg for Kandla and Mumbai ports of India. In China, there is a quiet period of demand on China’s Lunar New Year holidays, which falls between 15-21 February. China’s methanol imports in February will go down due to Spring Festival holiday. This year global methanol production capacity is expecte ..
Published on November 30, 2017
With the beginning of the month November domestic methanol prices has started upward move. On 1st nov methanol prices were evaluated around Rs 23.5 for Kandla and Mumbai ports of India and on 28th Nov prices were assessed at Rs 28.25/kg during one month period around 20% prices have increased. Methanol booking prices also have increased, in the first week of November CFR India methanol prices were evaluated in the range of USD 295-315/mt while in the last week methanol prices have increased by ..
Published on September 20, 2017
Methanol prices have increased from the start of August and reaches to its high point in early September. After wards prices has been declining as demand has plunged and material availability was sufficient. In the August average methanol prices were evaluated at Rs 23.71/kg while in early Sep methanol prices were ascertained at Rs 33.5/kg but again prices has dropped to the level of Rs 29/kg. Market has revealed volatility with fluctuation in the prices. Presently market players are concerne ..
Published on September 18, 2017
Last week was completely dedicated to the tropical storm Harvey. The Texas, where the storm has hit hard was in discussion all over. This was regarded as one of the worst hurricane in the history of the US. The major refineries are located in this region of the country. All the refineries lying in this belt were closed down holding around 28-30% petchem capacity of the country. To be specific with MEG, the country produces 2.2 million mt/year with most of the facilities located in Texas. Dow, F ..
Published on September 6, 2017
Methanol prices have been rising since the start of August in Asian market. Domestic methanol prices in the beginning of August were in the range of Rs 22-23/kg while Sep 4th methanol prices were evaluated at Rs 30/kg, up by around 25%. In China market also methanol market is moving with highly positive note, For the first week of August CFR China and CFR India prices were evaluated at USD 284/mt and USD 250/mt respectively while with the start of Sep Methanol prices were assessed at USD 3 ..
Published on September 6, 2017
The Chinese government in past few years has been taking strict norms related to environment protection. There have been several mishaps in petrochemical units which in last few years leading to death of many people. The surrounding environment has been the highest affected area mainly due to leakage of harmful gases or instance of fire washing away whole of the town. This has compelled the government to take strict and safety measures for all the petrochemical giants. Currently fourth round of ..
Published on May 31, 2017
Recently China hosted “One Belt One Road” forum which was attended by heads of around 100 countries including the heads of African nations, South Asian countries, Russia and Europe. There were higher ranked dignitaries as well which includes the president of the World Bank and the managing director of the IMF. In this entire summit India distanced itself and decided not to participate in OBOR policy. The idea of this policy this is to rebuild the old marine and overland trading rou ..