Published on December 16, 2017
Methanex has agreed with ENAP (Empresa Nacional del Petróleo) for additional gas supply to Methanex's Chilean methanol operations through 31 Dec. 2019. Methanex is fully committed to the restart of the Chile IV facility, which is targeted for the third quarter of 2018, said by methanex President. Company continues to be optimistic that underutilized 1.7-million ton Chile operations represent a very low capital cost growth opportunity for Methanex due to the significant progress in devel ..
Published on December 15, 2017
Sanjiang Chemicalwill shut down its MEG unit for maintenance in June 2018. Earlier the company has plans to call off the production December end of 2017. But now the shutdown has been postponed to June 2018. China based unit has the production capacity of 150 Kt/year. Another MEG unit based in China owned by Kayan will go on-stream very soon. Sharq has restarted its MEG unit 4. Earlier the unit was shut down for annual maintenance program. ..
Published on December 14, 2017
Prices for Group I Oils have reached to its highest levels in last three years in UAE. This particular gain has been due to gain in crude values and stringent supply of the oils. The other major reason for this hike is the limited supply from Iran due to holidays over there. The current price range floating in Iran for SN 500 is in between USD 700-750/MT. The current position for Group I prices in the Middle East remains healthy and most players expected prices to remain supported in comin ..
Published on December 13, 2017
Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha and Total, will invest more than $300 Million to expand its integrated refining & petrochemicals platform located in Daesan, South Korea. The investment will increase the site’s polyethylene capacity by more than 50% to 1.1 million tons per year by the end of 2019. This project complements the steam cracker expansion and flexibilisation project announced earlier this year, that will notably enable it to process low-cost p ..
Published on December 12, 2017
Indian petrochemical company Reliance has acquired a stake in a newly incorporated company, Dreketi S.A, in Uruguay to expand marketing of its petroleum and petrochemical products.In a disclosure to the bourses, RIL said that Dreketi S.A. is not engaged in any business activity at present."This is part of the company's plan to strengthen its marketing effort in Latin American markets," RIL said .The company had earlier said that its goal is to be a fully integrated producer of refining and petro ..
Published on December 11, 2017
Cabinet minister Nitin Gadkari said on Saturday said that the government would soon announce a policy for 15% blending of methanol in petrol to make it cheaper and to reduce pollution. “In the coming session of Parliament, I am announcing a policy of blending 15% methanol in petrol,” he said at an event here. Methanol was made from coal and cost only ₹22 a litre as against the prevailing price of ₹80 a litre for petrol. China was making the coal byproduct for ₹17 a litre. &ldq ..
Published on December 8, 2017
Methanex has signed an agreement with Empresa Naiconal for additional supply of natural gas to its Chile based operations through December 2019. The unit based in Chile will start its operations by 2018. According to company officials, they continue to be optimistic that their underutilized 1.7 million tonne Chile operations represent a very low capital cost growth opportunity for Methanex due to the significant progress in developing natural gas reserves in the area.” Methanex is a Vancou ..
Published on December 7, 2017
There has been decline in imports of isomer grade Mixed Xylene in China. There has been bulk in domestic production in this year. The shutdown of downstream units of Para Xylene for maintenance has also added further material in the market. The availability of cheap cargoes along with shorter delivery period has put an additional pressure on imports of isomer grade Mixed Xylene. The scenario is likely to dominate the market few more months. As soon as the other downstream units will resume their ..
Published on December 6, 2017
China based company Sichuan Chunwaei is planning to shut its methanol unit. The company has taken this decision as its major chunk of supply of feedstock natural gas is being supplied for local applications. Government is very strict for pollution norms and is focusing more on production of methanol using natural gas rather than coal. The unit will go off-stream on 10th December 2017. The unit is based at Sichuan province of China and has the manufacturing capacity of 870 kt/year. ..
Published on December 5, 2017
China’s CAS Holdings, an investment arm of China’s Academy of Science, is planning for project which will turn natural gas into methanol on the U.S. West Coast and shipping the fuel to Chinese factories and chemical makers, Chinese executives said. The project is part of company’s plan in order to build supply chain for methanol, potentially China’s next alternative industrial and transport fuel. The project is based at Kalama port in the US state of Washington on the Col ..
