The long-anticipated wave of new benzene capacity build that began in 2018 continues to come on-line, mostly in northeast Asia, and its impact on operations in Europe has become a key concern for European producers.
Para-xylene (p-xylene) markets in Asia have entered a phase of huge capacity additions, particularly in China, that are expected to depress plant operating rates worldwide, and drive down prices and margins.
BP and Zhejiang Petroleum and Chemical Corp. (ZPCC; Zhoushan, China) say they have signed an agreement to consider establishing a joint venture (JV) to build and operate a 1-million metric tons/year (MMt/y) acetic acid plant in eastern China.
Oman Oil and Orpic Group (Orpic; Muscat) is carrying out front-end engineering design (FEED) on a petrochemicals project downstream from a refinery planned at the Duqm special economic zone (SEZ).
Inovyn, the vinyls subsidiary of Ineos, has launched a polyvinyl chloride (PVC) brand that will be manufactured at the company's Rheinberg, Germany, facility using bio-attributed ethylene from Ineos's nearby Cologne steam cracker, which will be derived from renewable biomass feedstock.
The Russian Direct Investment Fund (RDIF; Moscow), Russia’s sovereign wealth fund; Sabic; and the Russian private equity group, ESN Group, have agreed to design, build, and operate a methanol plant in the Amur Region of Russia’s Far East.
China National Chemical Engineering Co. (CNCEC) says it has signed contracts together worth up to €12.0 billion ($13.2 billion) to construct a gas-based petrochemical complex on Russia's Baltic coast.
MEGlobal’s 750,000-metric tons/year ethylene glycol (EG) plant at Oyster Creek, Texas, is officially online, says parent Equate (Kuwait), a joint venture (JV) led by Petrochemical Industries Company (PIC; Kuwait) and Dow.
Drone attacks on Abqaiq, the world’s largest oil-processing facility, and on the Khurais oil field in Saudi Arabia are causing massive disruption to feedstock supplies.
LyondellBasell has signed an agreement with Liaoning Bora Enterprise Group (Bora; Panjin, China) to form a joint venture (JV) in northeast China that will initially operate a 1.1-million metric tons/year ethylene cracker to produce olefins and polyolefins.
Aromatics markets in Asia rallied on Monday after Brent crude futures surged following the weekend attacks on oil facilities in Saudi Arabia.
Worldwide production of ethylene totaled 160 million metric tons (MMt/y) in 2018.