Published on January 9, 2018
The Philippines continues to get business intents and development projects from large companies based in China. In a recent meeting between Department of Trade and Industry (DTI) Secretary Ramon Lopez and Handi Group President Hanling Wu, they discussed possibility of investments of the company in a petroleum refining and petrochemical manufacturing facility in the country. We welcome business intentions to strengthen our petrochemical industry, which the government actively supports. They exp ..
Published on January 8, 2018
With ongoing speculation in the beginning of New Year many experts believe that MEG demand to remain firm in the first quarter of 2018 in Asia. This firmness is on backdrop of rise in polyester demand in China market. High production rates of polyester are constantly driving the MEG demand in the country. Operating rates at polyester facilities in China have hovered around 80% since March 2017. With rise in polyester capacities in the country has increased the MEG consumption. To cater the domes ..
Published on January 6, 2018
The government's premier policy making body, has firmed up a hybrid vehicle policy that challenges the electric vehicle mission that's being pursued aggressively, pitching methanol as a better alternative for India. The Aayog has reasoned that electric vehicles are neither cost-effective nor sustainable. Methanol-based hybrid vehicles, it proposes, would run on electricity that would be generated on board from the chemical, a senior government official aware of the matter. The crux of the reason ..
Published on January 5, 2018
The global methanol market is expected to reach a new high of 100.3 billion dollar in next 6 years. The demand is primarily driven by its application in adhesives, paints and laminates and plastic industry. The demand is growing at CAGR of 8.6% per annum. To be specific with Asia, China and India are the fastest growing economies with highest demand for methanol coming from China. The growth of methanol market is mainly due to the rise in demand for clean burning fuel and fuel substitutes such ..
Published on January 4, 2018
Indian government made an important announcement stating that it is examining for the possibility of producing methanol and other chemicals. These initiatives are under feasibility study stage at present. Asserting that CIL is exploring alternative uses of fossil fuel, the minister of Power said that the PSU, through a joint venture with GAIL, Rashtriya Chemical Fertilizers Ltd (RCF) and Fertilizer Corporation of India Ltd (FCIL) is involved in a venture to set up a coal-based fertiliser plant a ..
Published on January 3, 2018
RIL on Tuesday commissioned its refinery off-gas cracker (RGOC) complex of 1.5 million tonnes per annum (mtpa) capacity along with downstream plants and utilities. This marks the end of the $16 billion refining and petrochemicals expansion plan that RIL embarked on in 2014. “The world’s first ROGC and downstream plants marks a paradigm shift in the profitability and sustainability of RIL’s petrochemicals business,” Mukesh Ambani, RIL’s chairman and managing director ..
Published on January 2, 2018
Samsung announced that it has received a contract from SABIC’s affiliate to build a petrochemical unit in Saudi Arabia. The unit will manufacture 7,00,000 MTPA of MEG annually. Unit will be based at Jubail Industrial city in Saudi Arabia. The construction for refinery is likely to get completed by 2020. ..
Published on January 1, 2018
India’s Bharat Petroleum corp Ltd. Has risen its operating rate of its Kochi based refinery. This speed is post the completion of its expansion schedule in Kochi. The refinery is currently running at about 13 million tonnes per year (tpy), or about 260,000 barrels per day (bpd), up from its original capacity of 9.5 million tpy, BPCL plans to gradually ramp up Kochi to its new capacity of 15.5 million tpy. ..
Published on December 30, 2017
Yeochun NCC is planning to shut its naphtha cracker no2 for maintenance turnaround. The unit is likely to go off-stream in the month of February in 2018. The unit will remain off-stream for around two weeks. Unit is based at Yeosu in South Korea and has the manufacturing capacity Ethylene around 5,80,000 mt/year and Propylene around 2,70,00 mt/year. ..
Published on December 29, 2017
Dalian Hengli will start its Styrene unit in the fourth quarter of 2018. The unit is expected to start its production the last quarter of 2018. This unit is one of many other several downstream units of Benzene which are likely to go on-stream in the year 2018. The unit is based in North east of China and has the manufacturing capacity of 7,20,000 mt/year. ..
