Petrochemicals

Buying enquiries from Europe for Asian petrochemicals have risen in recent weeks as international sanctions hit supply from Russia amid the Ukraine war. In the styrene-butadiene-rubber (SBR) market, Asian producers are preparing to ship out more cargoes to Europe given recent loss of Russian supply. Tyre factories in Europe are …

The first phase of construction on east China’s largest condensate gas field, Bozhong 19-6, began in Shandong Province on Saturday. It is the first 100 billion-cubic-meter gas field in China’s Bohai Bay. The project is expected to include eight individual structures – a central platform, three unmanned wellhead platforms and …

Deputy Oil Minister said that Iran will produce 141 million tons of petrochemicals before the termination of 7th Five-Year Socioeconomic and Cultural Development Plan in 2027, Trend reports citing Mehr. Morteza Shah-Mirzaei Deputy Oil Minister and Chief Executive of National Petrochemical Company (NPC) said on Monday in the first meeting …

China’s oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp (CNPC) said on Sunday. Last year, the research group, called the CNPC Economics & …

China is likely to commence the operations of 412 petrochemicals projects between 2021 and 2025, accounting for about 50% of the total upcoming petrochemicals project starts in Asia by 2025, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025’ …

In a sign that green hydrogen is becoming mainstream, three large energy and chemical firms—Ineos, Repsol, and TotalEnergies—have unveiled initiatives worth billions of dollars to make hydrogen in Europe using renewable power. Ineos plans to spend $2.3 billion on green hydrogen projects at its facilities in Norway, Germany, and Belgium …

China’s Sinopec has developed a steam-cracking technology to convert oil directly into high-demand petrochemical products such as ethylene and propylene, cutting costs and production times as well as significantly reducing carbon emissions. Could this be the low-carbon answer to petrochemical production, as the global need for these products keeps increasing …

Iran’s exports of fuel and petrochemical exports have surged in recent years as the re-imposition of the U.S. sanctions on the country’s oil industry curbed crude sales, the Daily Star reported. The situation has left Iran in a good position to be able to expand trade in Asia and Europe …

Iranian fuel and petrochemical exports have boomed in recent years despite stringent U.S. sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington lifts its curbs, trading sources and officials said. The United States imposed sanctions on Iran’s oil and gas industry in 2018 to …

Russia’s second-largest oil producer Lukoil plans to invest $3 billion in production of petrochemicals within the next 6 years, TASS news agency quoted the company’s head, Vagit Alekperov, as saying on Friday. He was speaking at the launch of an isomerisation unit at the NORSI oil refinery that is part …