Published on August 18, 2018
Like other global currencies Chinese Yuan has also drifted significantly in last few months. Yuan has reduced by 10% against US dollar. Similar scenario is witnessed by Lira of Turkey and Rupees of India. Plunging of Yuan has compelled the importers to look for domestic market to cover up their requirements. A weak currency makes US dollar-denominated imports more expensive. As China is a major importer of petrochemical products in Asia, its absence translates to some downward pressure on regio ..
Published on August 16, 2018
India based Reliance Industries has imposed force majeure on its gasoline exports. According to company sources the fluid catalytic cracking units at Jamnagar were undergoing a sort shutdown to assure the reliability and integrity of the operations. The unit is likely to restart after two weeks shutdown. The rest of the refinery operations are carried out smoothly at Jamnagar. Refinery based at Jamnagar has the capacity of 68.2 million/year. Reliance is one of the world’s largest refinerie ..
Published on August 14, 2018
The European Petrochemical Association will meet in Vienna for its 52nd EPCA Annual Meeting from October 7-10, 2018. The theme of this year's Annual Meeting: 'Petrochemicals and the Low-Carbon Economy: Versatile Solutions for Greater Sustainability' will look at how the petrochemical industry contributes to the transition towards a low-carbon economy providing innovative and sustainable solutions in co-operation with its suppliers, customers and other stakeholders that support smart citie ..
Published on August 13, 2018
China imposed a retaliatory tariff on methanol imports from the US that will be important topic for discussion in the swelling trade war between the two countries. The question is how producers will decide to pay or not the proposed 25% tariff waiting for a shipload of US methanol when it docks in Nantong or other Chinese port. As per analyst, if the tariff goes through in China then buyers will have to pay more for methanol and methanol prices in China will got more expensive. As per report, ..
Published on August 11, 2018
China based Sinopec Sabic Tianjin has announced its annual maintenance schedule for its Phenol unit. The unit will undergo maintenance in the month of September 2018 for around three weeks. The date has not been specified yet. Unit is based in North China and has the manufacturing capacity of 2,20,000 tonnes/year. ..
Published on August 10, 2018
China based Huizhou Zhongxin has shut down its Phenol unit for maintenance turnaround. The unit was shut down on 3rd August and is likely to remain off-stream for around one month. Unit is based in South China and has the manufacturing capacity of 1,82,500 tonnes/year ..
Published on August 9, 2018
There has been continuous rise in Phenol prices since last few weeks on back of tightened supply as many turnaround are observed. Major producer Sinopec increased its domestic offers for phenol in east China on 6 August by yuan (CNY)400/tonne ($59/tonne) to 9,800/tonne, in line with an increase in phenol spot prices in the market. Harbin Bluestar, Huizhou Zhongxin Chemical and Sinopec Mitsui either have launched or plan to launch maintenance at their phenol/acetone unit in August leading to we ..
Published on August 8, 2018
China has recently threatened to impose 25% tariffs on imports of Methanol from the US. According to sources there will not be any major issue with the tariffs on US methanol. “The current import [volume] from the US is small and for the most part, the supply chain can adjust, with US exports going to other countries, which in turn will displace some cargoes to China," the trader added. China imports more than half of its imported Methanol from Middle East. SO the impact of high ..
Published on August 7, 2018
Indian Oil Corp is planning to invest Rs 1.75 lakh crore to nearly double refinery capacity, boost petrochemical production, expand gas business and lay new pipelines to become a vertically integrated company. The company plans to raise capacity to turn crude oil into fuels like petrol and diesel to 150 million tonnes per annum by 2030 from the current 80.7 million tonnes. The company currently owns and operates 11 out of the 23 oil refineries in the country. As per report, as part of this, pr ..
Published on August 6, 2018
Jinxi Petrochemical has started its styrene monomer unit after a maintenance turnaround. As per report, the company has completed its turnaround at the unit in end-July 2018. The unit remained under maintenance for around two months. As per report, the unit is placed in Huludao in Liaoning province, China, the unit has a production capacity of 60,000 mt/year. ..