Headlines

Published on February 21, 2018

Many leading manufacturers of Styrene have announced force majeure due to extreme cold weather. Consumer facility in Lousiana earlier announced force majeure at their Louisiana based unit. The shut down now has been extended till mid-April. Cosmar has got two Styrene Monomer units having the total production capacity of 1.15million mt/year. On similar grounds SABIC announced a force majeure on styrene in the last week of January due to extreme cold weather. The styrene force majeure was expecte ..

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Published on February 20, 2018

The Ministry of Commerce of the People's Republic of China announced the anti-dumping duties of 5%-10.7% would be implemented on styrene monomer from South Korea, Taiwan, and the US, with effect from February 13. The duty varies according to the company from which the cargo is produced, and will be paid to China's General Administration of Customs. The Hanwha Total Petrochemical Company with dutiable level of 7.8%, Yeochun NCC Company with 7.8%, Lotte Chemical Corporation with 8.4% LG Chemical w ..

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Published on February 19, 2018

The proposed petrochemical complex at Kakinada in Andhra Pradesh, a joint project of GAIL and HPCL, seems to have hit a roadblock with the Centre asking the state government to pay Rs 5,000 crore upfront in the form of viability gap funding (VGF). With certain legal technicalities between state government and central government the project seems be under uncertain. The proposed complex, with a cracker unit, was supposed to produce ethylene and its derivatives. The state government has submitted ..

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Published on February 16, 2018

Baghdad signed a deal in late January with a consortium of Chinese investors to develop a world-scale refining and petrochemical complex in the south of the country. With recapturing of territory in the north and west last year, the area has increasingly been the focus of efforts to improve downstream provision. Two Chinese companies had been selected to develop a 300,000- bpd export refinery and petrochemicals complex on the Al-Fao peninsula in the far south of Basra province. Al-Fao is where ..

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Published on February 13, 2018

US based CB&I has won the contract for engineering and design services for the Methanol complex. The contract also includes terms for the exclusive selection of CB&I for the engineering, procurement and construction (EPC) of the four methanol trains to be developed at the site. The unit will be built at the gulf coast and will have the manufacturing capacity of 7.2 m tonnes/year. This unit uis regarded as the world’s largest methanol production complex, the facility is expected to ..

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Published on February 12, 2018

Iran's annual petrochemical revenue has averaged $20 billion in the last five years, Oil Minister Bijan Namdar Zanganeh said. “To increase non-oil exports, we should raise petrochemical investments and avoid selling raw materials,” IRNA quoted Zanganeh as saying, adding that the country is in need of foreign finance and know-how to materialize its development plans. Tehran earned $9.55 billion in revenues from petrochemical exports last year, official data show. Petrochemical consi ..

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Published on February 10, 2018

Many new units are likely to start their production line for methanol in US in this year. The major chunk of production is expected to be consumed by China. In a recent meet, industry experts believe that most of the demand growth is from China and majorly depends on its MTO units. The new methanol units based US are likely to driven by Chinese consumers. The rise in Methanol values in the end of year is very prominent but experts believe that this hike will not get over completely but will see ..

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Published on February 9, 2018

Saudi Aramco and Malaysian refinery Petronas are under process of signing a deal to take loan of 8 billion dollar which would partly finance the construction of their joint refining and petrochemical complex in Malaysia. The Malaysian refinery will have the capacity to refine 300,000 barrels of crude per day. It is expected to start up in 2019, producing gasoline, diesel, and feedstock for its integrated petrochemical complex to the tune of 3.5 million tons of products annually. According to Pet ..

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Published on February 7, 2018

Chevron Philips experienced an unexpected outage at the producer’s HDPE unit. The unit has been shut down due to technical issues. ’Our cargoes from Chevron has been delayed. When we inquired, the producer said it is due to production problem, but did not specify further. We suspect either short on ethylene or oversold due to high HDPE prices,’’ a converter informed. Chevron Phillips Singapore has a total capacity of 400,000 tons/year HDPE, and based at Jurong Island. ..

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Published on February 6, 2018

There has been override in ACN prices in Asian markets since last few weeks. The tightening in the supply has been the sole reason for this gain. The Indian traders are at the worst end as prices are increasing significantly since last few weeks. Further many manufacturers are storing the material for future use as well as many ACN manufacturing units is likely to undergo maintenance schedule in the month of April and May. In China, users are piling up the stock as in next few most of the marke ..

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