naphtha
Jul 23rd, 2009
Japanese Petrochem Makers Mull Added Imports of Naphtha (23-7-2009)
Poor refining margins have forced Japanese refiners to cut crude runs, while increased demand for naphtha from petrochemical firms has lead to lower inventories. Though Japan’s naphtha stocks that had dipped to 11 year lows, have risen, inventory levels continue to be low. As demand from China strengthens, Japan’s petrochemical makers mull added imports to...
Jul 22nd, 2009
Govt Rejects Proposal for Duty Differential Between Naphtha & Polymers
Manufacturers of petrochemicals in India have been hankering for a duty differential between naphtha and polymers which was as good as nil in India, but stood at 6-7 percent in other parts of the globe.
But the government has stood its ground by saying that there was no duty inversion when customs duty on naphtha, a...
Jul 17th, 2009
June Petrochem Naphtha Imports in Japan Dip by 18%
Japan’s naphtha imports for the petrochemical sector fell 18 percent in June from the previous month as per the Ministry of Economy, Trade and Industry.
Imports of naphtha for ethylene production amounted to 960,823 tons (1,399,098 kilolitres) last month, compared with 1,169,478 tons (1,696,561 kl) in May. The average naphtha import cost in June rose to...
Jul 14th, 2009
Low Premiums Paid by LG Chem for 30,000 tons of Naphtha for Late August Arrival
LG Chem has paid lower premiums on 30,000 tons of naphtha for late August arrival, as supply eased on arbitrage. The South Korean petrochem major has paid a premium of US$3/ton- less than half the premium that it shelled out for end-June.
Market indicates that the tight supply situation is easing, with about 500,000 tons...
Jul 10th, 2009
South Korean Producers Plan Maintenance Shutdown at Naphtha Cracker in 2010
South Korea’s LG Chem will expand its 900,000 tpa naphtha cracker at Yeosu by 100,000 tpa by April 2010. Korea Petrochemical Ind Co Ltd (KPIC) has planned a maintenance shutdown at its 460,000 tpa naphtha cracker in April-May 2010. Yeochun Naphtha Cracking Centre (YNCC) will shut down its No.3 naphtha cracker for a 45-day scheduled...
Jul 9th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
Bleak unemployment figures from USA and Europe have sunk oil prices to US$66/barrel. Weak jobs figures suggest tepid consumption that will dampen crude demand. A Labor Department report indicated 467,000 jobs were lost in June - a larger than expected drop that has pushed up unemployment rate to 9.5% at 26 year highs. Unemployment...
Jul 6th, 2009
India’s Hydrocarbon Profile Sees a Sea Change
Daily gas production has already crossed oil production figures.
India’s hydrocarbon profile is on the cusp of a major change — the country is becoming more of a natural gas producer than a crude oil producer.
Consider this: While India’s current oil production is around 660,000 barrels a day, that of gas has touched 676,000 barrels of...
Jul 6th, 2009
Mitsubishi to Restart Naphtha Cracker
Japan’s Mitsubishi Chemical Corp plans an earlier than projected restart of its 375,000 tpa No.1 naphtha cracker at Kashima. The restart was delayed last week to July 5-6 due to an oil leak, which has been fixed. Due to this delay, the company has deferred the scheduled maintenance of its 476,000 tpa No.2 cracker from...
Jul 1st, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
For the second consecutive week, crude oil prices have finished in the red, settling below US$70 in the week of June 29, 2009. Light sweet crude oil for August delivery settled at US$69.1, down by over one dollar for the week amid rough trading. The Energy Information Administration data indicated a 3.8 mln barrel...
Jun 29th, 2009
Industry Expectations that Can Boost the Consumption of Petrochemicals in India
The growth potential of India’s polymer and petrochemical industry has not completely materialized largely due to the high excise duty rate on petrochemicals. To boost petrochem consumption to partially/fully offset the loss in revenue from excise duty, the industry has a few expectations that include:
Import duty on two basic feedstocks naphtha and propane be reduced...
Jun 29th, 2009
China’s Monthly Toluene Imports in H1 2009 Up on Gasoline Demand
Toluene imports into China in the first half of the year tripled to 60,000-70,000 mt/month compared with average 2008 monthly imports, on higher demand for gasoline blending, industry participants, at the 2009 China Aromatics Market Conference, said last week.
Imports also surged on falling local Chinese production. Toluene output fell 45,000 mt/month in H1 2009 compared...
Jun 26th, 2009
Petrochemicals: Hike Import Duty on Polymers
Petrochemicals are chemicals manufactured from petroleum feed stocks.
Petrochemical manufacturing involves manufacture of building blocks by cracking or reforming operation; conversion of building blocks into intermediates such as fibre intermediates (Acrylonitrile, Caprolactam, Dimethyl Terephthalate/Purified Terephthalic Acid, Mono Ethylene Glycol); precursors (Styrene, Ethylene Dichloride, Vinyl Chloride Monomer, etc) and other chemical intermediates; production of synthetic fibres, plastics,...
Jun 24th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
Crude oil prices dipped by over a dollar to US$71 per barrel in the week of June 22, 2009. Weak fuel demand despite data indicating a recovery in the global economy has kept crude oil pegged at US$71 per barrel. This marks a stop to four consecutive weeks of oil price hike. The weakening...
Jun 24th, 2009
Japan’s JGC Awarded Contract for Feasibility Study for Petro Rabigh Complex
Japan’s JGC Corporation has been awarded a project to conduct a feasibility study for expansion of the refinery and chemicals complex in Rabigh by Saudi Aramco and Sumitomo Chemicals. The study for expansion of the US$10 bln (SAR 37.5 mln) Rabigh Refining and Petrochemical Company (Petro Rabigh) is to be concluded by Q3-2010. Investment outlay...
Jun 23rd, 2009
Naphtha Exports from India Rise in July, Unable to Satiate Demand
Premiums on naphtha cargoes for July lifting from India on free-on-board (FOB) basis have increased to US$25/ton- an 80% increase in premiums as compared to June. This price hike can be attributed to a tight naphtha supply situation despite increased run rates in Northeast Asian plants, mainly because of drastically reduced volumes of exports from...
Jun 22nd, 2009
‘Time Right to Enter China Petrochemicals’
Petrochemicals producers in the Middle East who are looking for export opportunities in China should act now or risk being left out, global energy analysis firm PFC Energy has warned in its new report.
China intends to take a fully integrated investment approach, targeting all segments of the petrochemicals sector and plans to build about 20...
Jun 17th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
In the week of June 15, 2009, crude oil prices have risen to new highs for the year to US$72.5, as compared to levels below US$35 in March. Interestingly, though oil prices have been rising for a month now, many analysts believe that the current oil valuation is not based on economic reality, but...
Jun 16th, 2009
GAIL’s Petrochemicals Plan on a Slow Wicket
State-run GAIL India may have put its mega petrochemicals plan on the backburner because of falling global demand.
GAIL had planned to set up two new mega petrochemicals plants - one overseas and one in India — but the fall in demand for polymers may have slowed the process.
“Economic slowdown is affecting and naturally we are...
Jun 12th, 2009
Korean Refiner to More than Double Paraxylene, Benzene Capacity by 2011
S-OIL Corporation, one of the leading oil refiners in Korea, has announced plans to invest 1.4 trillion won to complete its Onsan refinery expansion project in Ulsan by June 2011. Under the project, the company will construct facilities for producing 900,000 tpa of paraxylene and 280,000 tpa of benzene. The facilities are built on an...
Jun 10th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
At the end of the week of June 8, 2009, crude futures have retreated to US$68, after surging past US$70 midweek- to 6 month highs after release of a report indicating better-than-expected improvement in US jobs scenario. The latest employment report is an indication of the improving health of the US economy. The loss...