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  • ADNOC to target fast growing Chinese polymers market2017/5/17

    Abu DhabiAbu Dhabi National Oil Company (Adnoc) is targeting rapid growth in demand for its high-grade polymer products from China’s automotive industry and the country’s investment in gas and electricity infrastructure.Adnoc said in a statement on Thursday that it is focused on market expansion in China and Asia, where demand for petrochemicals an......Read more
  • India valley moth larvae can absorb plastic!2017/4/27

    IMAGE: THIS IMAGE SHOWS A WAX WORM CHEWING A HOLE THROUGH PLASTIC. POLYETHYLENE DEBRIS CAN BE SEEN ATTACHED TO THE CATERPILLAR. Generally speaking, plastic is incredibly resistant to breaking down. That's certainly true of the trillion polyethylene plastic bags that people use each and every year. But researchers reporting in Current Biology......Read more
  • Geo-politics, likely deal extension to keep oil prices bid2017/4/10

    Oil prices hit their highest level in a month on FridayImage Credit: APAn Iraqi worker operates valves in Nihran Bin Omarfield north of Basra, 340 miles (550 kilometers)southeast of Baghdad.Siddesh Suresh Mayenkar, Senior ReporterDubai: Poltical tensions and the likelihood that major oil producers will extend an agreement to cut crude production is......Read more
  • Oil settles at $48.04, down 20 cents, as US crude stockpiles swell2017/3/23

    Oil prices recouped much of their losses after sliding to almost four-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June.The U.S. Energy Information Administration (EIA) said U.S. inventories climbed by almost 5 million barrels to 533.1 million last......Read more
  • Middle East fuel boom stirs sales fight from Europe to Asia2017/3/23

    Expanding fuel shipments from the Arabian Gulf will intensify competition from Europe to Asia, squeezing profits across the global refining industry and contributing to a looming glut of oil products.As Saudi Arabia, middle east other crude suppliers build new oil-processing plants and upgrade old ones, the Gulf is poised to become a net exporte......Read more
  • Opec cuts oil output, but more work needed to fulfil deal2017/2/9

    London: Opec cut output by 840,000 barrels a day last month, but has more work to do to fully comply with last year’s historic production deal.The Organisation of Petroleum Exporting Countries pumped 32.3 million barrels a day in January, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. The 10 members of the g......Read more
  • OPEC cuts will have a muted effect on consumers2017/1/9

    Analysts say consumers and businesses are not likely to see the return of $100-a-barrel oil - and high energy costs that came with it - anytime soonImage Credit: BloombergA pump jack at an oil well in Williston, North Dakota, US. Some of the slack from Opec cuts will be picked up by producers in the US — good news for drillers and oilfield workers ......Read more
  • Global polymer players evaluate OPEC decision2016/12/5

    The Organization of Petroleum Exporting Countries (OPEC) reached a deal to curtail oil output in a meeting held on November 30 in Vienna. Members plan to reduce output by 1.2 million b/d from the current level starting from January 1, 2017, with key non-OPEC oil suppliers also conceding to lower their production by various amounts. Meanwhile, Iran ......Read more
  • JV petchem project of PTT and Aramco likely to be shelved2016/12/1

    According to media reports, Thailand’s energy major PTT revealed that the refinery and petrochemical project in Vietnam’s Binh Dinh Province Nhon Hoi economic zone, which is worth $20 billion, will probably be scrapped. The project was a PTT-Saudi Aramco joint venture and it was planned to include a 400,000 barrel/day refinery, a naphtha cracker w......Read more
  • Saudi major issues Dec PE, PP offers to local market and Egypt2016/12/1

    Market players in Saudi Arabia and Egypt reported that a Saudi major revealed its December PE and PP offers with rollovers from November to both markets. Some players reported that new offers came in line with their expectations whereas some argued that they were expecting to see some decreases on the major’s new offers given muted demand which wou......Read more
  • Iran outpaces Saudi Arabia as India’s major oil supplier2016/12/1

    According to media reports, Iran outpaced Saudi Arabia in oil supply to the world’s fastest-growing oil consumer, India. Iran showed up as the major supplier of oil to India in October, which happened for the first time in 2016, according to Bloomberg. Iran boosted its crude production and sales in 2016 following the sanctions that lasted for years......Read more
  • Kuwait’s PIC to start studies on olefin, aromatics projects in 20172016/12/1

    According to market sources, Kuwait’s Petrochemical Industries Company (PIC) is planning to sign contracts for engineering studies on olefins and aromatics projects in the first three months of 2017, said Husniya Hashem, CEO of olefins and aromatics. An integrated project at Al-Zour Refinery is expected to be completed and start production in the s......Read more
  • China’s PE market down while Northeast Asian ethylene turns up2016/12/1

    PE prices turned down in mid-November in China whereas spot ethylene prices have been firmer in Northeast Asia over the past two weeks. This is the fourth time this year that PE and ethylene have taken divergent paths, The recent developments caused the gap between ethylene and HDPE to shrink to below $100/ton from approximately $200/ton recently.......Read more