Ethylene has shown robust and consistent growth over the period 2015 to 2019, according to GlobalData, and is expected to increase at a healthy 2.5% compound annual growth rate (CAGR) over the decade. Asia has been the largest contributor, both in terms of demand and supply, and is likely to …
Read More »Iran Becomes Self-Sufficient in Benzene Production
Iranian petrochemical companies now fully meet the domestic need for benzene and the imports of the chemical product will stop from now on, according to an Oil Ministry’s statement on Sunday. Iran will no longer need any imports of benzene as one of the Iranian petrochemical companies has now met …
Read More »Iran’s Petrochemical Output to Reach $40b
Iran’s Oil Minister Bijan Zanganeh said in the inauguration ceremony of several oil-related plans that Iran’s petrochemical output would reach 40 billion dollars in 2027, Trend reports citing IRNA. Zanganeh said that the required feed for the super projects launched as part of Iran’s so-called ‘third surge’ plan to increase …
Read More »CNOOC and Shell Start Up New Petrochemicals Units
CNOOC Oil & Petrochemicals Co. Ltd (CNOOC) and Shell Nanhai B.V. (Shell) have announced the start-up by their 50:50 joint venture, CNOOC and Shell Petrochemicals Co. (CSPC), of new units to supply the Chinese market with essential petrochemicals. One new unit is the largest of its type in China, producing …
Read More »Persian Gulf Star Refinery Boosts Export of Oil Derivatives
Deputy Minister of Oil for Refining and Distribution Affairs Alireza Sadeghabadi said on Monday that the Persian Gulf Star refinery is effective to make Iran self-reliant for gasoline output and helped Iran boost export of oil derivatives as well. “Currently, an average of 48 million liters of gasoline and 17 …
Read More »Iran Petchem Revenues to Reach $25b in 2021
Iranian oil minister announced on Thurs. that the country’s petrochemical income is expected to reach $25 billion at the end of the next Iranian calendar year (March 20, 2022), Trend reports citing Mehr. According to Bijan Namdar Zanganeh, Iran could earn $11 billion of revenues in the first boom of …
Read More »Global Demand for Petrochemical Products Seen at Almost 4% Annually
Global demand for petrochemical products is expected to grow by about 4% annually, while the demand for oil will grow only by 1%, Russian President Vladimir Putin This announced on Tuesday. He was speaking at a meeting for the strategic development of the petrochemical industry. “By the way, this is …
Read More »China Starts Building $20 Billion Mega Petchem Complex in Shandong Oil Hub
China started this week building a mega petrochemical and refining complex in east China’s Shandong province, local state media reported, four months after the $20 billion project received state approval. The Yulong project to be built in Yantai, Shandong, China’s hub for independent oil refineries, consists of a 400,000-barrel-per-day oil …
Read More »Saudi Arabia Sends World-First Shipment of Blue Ammonia to Japan
Saudi Aramco, which made the announcement Sunday, produced the fuel, which it does by converting hydrocarbons into hydrogen and then ammonia, and capturing the carbon dioxide byproduct. Japan will receive 40 tons of blue ammonia in the first shipment, Aramco said. Ammonia can be burned in thermal power stations without …
Read More »Iran 5-Month Petchem Output up 6% Y/Y
Production stood at 25 million tons during the period, adding petrochemical plants operated with a good capacity during the 5 months.
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