Published on May 22, 2018
Iran based Marun Petrochemical has shut down its high density Polyethylene unit for maintenance turnaround. The unit was shut down in the last week of April. Unit is likely to resume its production in the month of June. Unit is based at Bandar Imam in Iran and has the manufacturing capacity of 3,00,000 tonnes/year. China is one of the major importers of PE from Iran. Imports has tightened for China due to shut down of major PE units in Iran. ..
Published on May 19, 2018
Naphtha cracker of BASF-YPC has been restarted after brief maintenance. Earlier the unit was shut down for annual maintenance. Last week cracker has resumed its production. Unit is based at Nanjing in China nad has the manufacturing capacity if 7,40,000 mt/year. ..
Published on May 18, 2018
French petrochemical firm Total said that it may pull out all its investments from Iran where again sanctions has been imposed by US unless the sanctions relief is provided to the firm. Total has invested in Iran in South Pars along with Chinese firm CNPC and Iranian firm Petropars. Total itself holds 50.1% stake in South Pars Phase 11 with China’s state-owned CNPC owning 30% and Iran's Petropars 19.9%. In a press release by firm, “As a consequence and as already explained before, ..
Published on May 17, 2018
Manali Petrochemical has witnessed a bumper hike of 20% in share market as its quarter 4 results were announced with record margin of profit. The petrochemicals company posted four-fold jump in its standalone net profit at Rs 266 million in Q4FY18, on back of strong operational performance. The company had profit of Rs 67 million in the corresponding quarter of previous fiscal. ..
Published on May 16, 2018
IPA is one of the major chemical used in paints and color industry. Period from April to June is the season when its demand is on peak. Countries like India where from April to June are summer the demand is highest. Other countries like Indonesia and Malaysia also import heavy amount in this period. This year scenario is different as Ramadadan the holy month for Muslim nations will start from 17 May. Indonesia and Malaysia where the majority of population is muslim cut down their worki ..
Published on May 15, 2018
There has been significant hike in Maleic Anhydride price in Asian market as supply glut has been the major factor. Strong demand from Europe and India has been the dominating factor in rise in prices. CFR SEA prices were assessed in the range of USD 1440-1460/MT.Demand from the downstream sector has been the prominent on last few weeks. In the Indian market there has been clean sweep in the values on back of delay in the shipment for last few weeks. ..
Published on May 14, 2018
Fanavaran Petrochemical Company will restarted its Methanol unit on Monday. Earlier the unit was shut donw for annual maintenance on 21st April 2018. Unit is based at BandarImam Khomeini in Iran and has the manufacturing capacity of 1,000,000 mt/year. ..
Published on May 11, 2018
Keiyo Petrochemicals is planning to shut its naphtha cracker unit for maintenance turnaround. The unit is likely to go off-stream on Sunday and is expectd to remain off-stream for around two months. The unit may resume ts production in the first week of July 2018. Unit is based at Ichihara in Chiba province of Japan and has the manufacturing capacity of 7,40,000 mt/year. ..
Published on May 9, 2018
There has been continuous hike in crude prices in last few weeks. The prices are expected to jump further as USA announced to impose new and strict sanctions on Iran. It has decided to withdraw itself from the group negotiating with Iran for nuclear deal. This in turn will affect specifically Asian countries like India and China as they are the major importers of Methanol and other petrochemical products from Iran. The rupee (Rs) fell to a 15-month low on 7 May to break Rs.67 levels to the US do ..
Published on May 8, 2018
The government is contemplating a 'Methanol Economy Fund' to promote indigenously-produced methanol shihc could substitute 10 percent of India's crude oil imports by 2030, thereby reducing its fuel bill by around 30 percent, Road Transport and Highways Minister Nitin Gadkari. Making sa statement on methanol in Lok Sabha, Gadkari said the final roadmap for 'Methanol Economy' being worked out by NITI Aayog was targeting an annual reduction of $100 billion by 2030 in crude imports. "To promote ..
