Published on January 23, 2018
Petroleum minister Dharmendra Pradhan on Monday hinted at the consolidation of all the downstream units of Oil and Natural Gas Corporation (ONGC), post its acquisition of Hindustan Petroleum Corporation (HPCL) which will be an integrated refinery-cum-petrochemical vertical. This vertical is likely to include HPCL, along with Mangalore Refineries and Petrochemicals (MRPL), ONGC Mangalore Petrochemicals (OMPL), ONGC Petro-additions Ltd (OPaL) under one umbrella. According to minister.“The r ..
Published on January 22, 2018
Reliance Industries has reported a rise in consolidated profit by 25.1% in the third quarter of fiscal year 2018 of the year ended on 31 December 2017. Operating profit was up 38.4% to 141.7 billion rupees while revenue advanced 30.5% to 1.099 trillion rupees, primarily due to higher volumes following the start-up of petrochemical projects and increase in prices in refining and petrochemicals. Earnings per share for the quarter were 16.0 rupees compared with 12.8 rupees in the corresponding quar ..
Published on January 20, 2018
Methanol supply has always remained on top of discussion in the Asian market. The major consumers of Methanol in Asia are India and China. On other side China is again one of the leading manufacturers of Methanol. In India the majority of is imported from Iran and China. The central government of India has taken an important decision of using Methanol as fuel. This will turn help to reduce pollution. With more demand for methanol the government will have to focus on continuous supply of chemical ..
Published on January 19, 2018
According to Chineses news agency Xinhua the petrochemical industrial profit in 2017 grew at the fastest pace in six years, according to the China Petroleum and Chemical Industry Federation on Wednesday. The sector's 2017 profit is estimated to exceed 850 billion yuan (about 130 billion U.S. dollars), up 30 percent. Revenue from core operations totaled 14.5 trillion yuan last year, up 12.5 percent, while imports and exports as a whole increased by 22 percent to 560 billion U.S. dollars. The pe ..
Published on January 18, 2018
NS Styrene Monomer unit will shut its SM unit no 1 for maintenance turnaround. The unit is likely to go off-stream in the second week of March and is expected to remain off-stream for around 30 days. The unit no 1 has the manufacturing capacity of 1,90,000 mt/year. The other unit no 2 will also remain off-stream for maintenance. The unit will be shutdown in the last week of February and will remain off-stream for around 50 days. The unit no 2 has the manufacturing capacity of 2,30,000 mt/year. U ..
Published on January 16, 2018
There has been constant hike in MEG prices in Asian market. CFR China values were assessed around USD 1000-1020MT, increased by USD 35/MTS in compare to last week’s assessed values. CFR South East Asia assessed around USD 1015/MT increased by USD 35/MTS in compare to last week’s closing values. FOB Korea values for Ethylene were assessed around USD 1370/MT, while CFR China values were assessed around USD 1340/MT. Strong buying sentiments coupled with healthy demand has been dominatin ..
Published on January 13, 2018
Abu Dhabi National Oil Company is planning to increase its crude refining capacity in non-OECD countries by at least 60 per cent and triple its petrochemical production as part of its future growth strategy. This proposed expansion will create a single largest integrated refining and chemical site in the world in Ruwais in the UAE, Said by Dr Sultan Ahmad Al Jaber. Once complete thy will convert almost 20 per cent of crude into chemicals, diversifying range of higher value products and provid ..
Published on January 12, 2018
There has been constant surging in the Melamine values in Asian market. China is one of the major supplier of Melamine. Since last one year Chinese government has become very strict regarding environmental issues. The government has asked many chemical manufacturers to either cut down rate or shut down their units. Strict environmental laws have been formulated and have been asked to abide accordingly. With slowdown in supply of Melamine from China the European manufacturers has been getting mor ..
Published on January 11, 2018
A huge methanol project has been announced in Louisiana in US by IGP Methanol. It plans to build four units each having the production capacity of 1.8m tonnes/year. Once completed, the company’s Gulf Coast Methanol Park would produce 7.2m tonnes/year of methanol, larger than total US production now. Company has not disclosed any cost or investment figure for this project. ..
Published on January 10, 2018
The government is reportedly mulling a proposal to the split the Gas Authority of India Limited (GAIL) into two separate entities. According to reports the government might separate marketing operations and make it a full-fledged company. The possibility of a split is discussed as the government is miffed with GAIL’s performance in building a pipeline network. Also, there is a conflict of interest as the company is both the infrastructure provider and carrier. The company, however, has di ..
