Published on November 21, 2018
There has been significant decline in MEK prices in Asian market. The plunging of crude values since last few weeks coupled with slowdown in China market has pulled back the values for MEK in Asian market. Demand for MEK has also declined and is operating only in need basis. Buyers are not in hurry to make the procurement of material. There has been significant decline in naphtha prices across the global market has also put an additional pressure on MEK values. Last week’s closing values f ..
Published on October 30, 2018
Methanex has increased its North American posted methanol contract price by 7 cents for November compared with October to 156 cents/gal ($519/mt) FOB USG, the world's largest methanol producer by capacity said on its website. Hike in the values was expected in current market conditions. ..
Published on October 27, 2018
According to Iranian minister around 30 projects in the petrochemical sector are currently under construction throughout the country with the aim of completing the petrochemical value-chain. More than half of the projects are based near the southern strategic port of Chabahar near the Sea of Oman and on Qeshm Island in the Persian Gulf. “Completion of the petrochemical value-chain is one of the main policies of the National Petrochemical Company, and this issue has become more promi ..
Published on October 26, 2018
Exxon Mobil its cracker unit after brief maintenance schedule. The cracker was restarted this week. Earlier the unit was shut down in the first week of September 2108. Unit is based at Jurong island in Singapore and has the production capacity of Ethyleen around 9,00,000 mt/year. ..
Published on October 24, 2018
PTTGloabal has restarted its cracker unit no1 this week. Earlier the unit was shut down annual maintenance turnaround. Te unit remained off-stream for around three weeks. Unit is based at Map Ta Phut in Thailand and has the production capacity of ethylene around 460,000 mt/year and a propylene production capacity of 125,000 mt/year. ..
Published on October 23, 2018
German chemicals major BASF has declared force majeure on deliveries of butyl acrylate and ethyl acrylate from its site in Ludwigshafen on Thursday. "Our production site in Ludwigshafen is currently encountering significant constraints regarding the raw material supply via barge due to the very low water level of the river Rhine," a company spokesman said. Barge movements have been constrained for over three months since the water levels began to full seriously low, impacting transport of both ..
Published on October 19, 2018
France's Total has signed an agreement with India's Adani Group, that will see them jointly develop a fuel retail network and various LNG regasification terminals in India. Total and Adani will set up a joint venture to build a retail network of 1,500 service stations over a period of 10 years. The retail outlets will offer Indian customers Total's full range of fuels and lubricants, the companies said in a joint statement Wednesday. The outlets will be set up on the main roads, such as highwa ..
Published on October 17, 2018
India is looking towards European nations for Mixed xylene imports. India’s leading petrochemical manufacturer Reliance has imported 15000-20000 mt of mixed xylenes in the month of September. Reliance is the second largest manufacturer of Para Xylene in the world with the production capacity of 4.2 mln mt/year. Its Para Xylene manufacturing is based at Jamnagar in Gujarat. However it has further stated that import will not be on regular basis. ..
Published on October 15, 2018
US and India will have high level discussions and meetings with respect to cutting of imports from Iran. The sanctions will imply within three weeks and most of the nations are under confusion from where the demand will be fulfilled. India has been seeking relief from the US sanctions, with the highest-level talks happening in New Delhi in September between the foreign and defense ministers from both countries. Current prices suggest India's decision to continue to bring in Iranian crude makes s ..
Published on October 12, 2018
Reliance Industries Ltd (RIL) raised prices of at least seven key petrochemicals in the last quarter to offset higher crude oil prices and counter the effect of a weakening rupee. Analysts tracking the prices believe that prices has increased by 10-21% in the second quarter of this fiscal while year-on-year increase is 17-61%. These products include purified terephthalic acid (PTA), monoethylene glycol (MEG), polyester staple fibre (PSF), partially oriented yarn (POY), polypropylene or high dens ..