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.
Isomer-grade mixed xylenes in China’s domestic market now command at least a $100/metric ton premium over the FOB Korea price, IHS Markit data show.
Samsung Engineering (Seoul) today held a groundbreaking ceremony for Sarawak Petchem’s methanol plant at Bintulu, Sarawak, in Malaysia.
State-owned Oil and Natural Gas Corp. (ONGC; New Delhi, India) is planning to buy out the share of the ONGC Petro Additions Ltd.
PKN Orlen (Plock, Poland), the country’s leading petrochemicals producer, has licensed the UOP MaxEne process, which can increase production of ethylene and aromatics and improve the flexibility of gasoline production.
Borealis has held a groundbreaking ceremony for its second propane dehydrogenation (PDH) plant on its existing production site at Kallo, Belgium.
MEGlobal today inaugurated its 750,000-metric tons/year ethylene glycol (EG) unit at Oyster Creek, Texas. The plant is in final start-up stages and expected to produce on-spec product within 30 days, officials say.
European spot benzene prices for September are approaching $900/metric ton CIF Amsterdam-Rotterdam-Antwerp (ARA) in a market that has been synonymous with volatility from the latter part of August to date.
A bow wave of chemical exports from the US and Middle East is building up speed. Propelled by a line of export-oriented petrochemical projects coming onstream, this surge is having a profound effect on the worldwide flow of waterborne liquid chemicals and plastic resins.
The global economic slowdown, the trade war between the US and China, and the risk of recession repeatedly entered discussions during IHS Markit’s 2019 Global Plastics Summit, held this week in Houston, Texas, but no topic received more attention than the crisis around plastics waste.
Three weeks of events, with thousands of oil, gas, chemical, and related industry executives, politicians, environmentalists, and technology providers, often at the highest level, focused on driving global business, amid the great US shale-led manufacturing resurgence, while also amid increasing public attention and scrutiny.