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Chemicals Commodity Chemicals

  • SEOUL/ SINGAPORE, Feb 17- A shift in the use of liquefied petroleum gas to petrochemicals and away from transport has pushed demand for the fuel to new records in South Korea, after years of slumping consumption, a change which mostly benefits U.S. suppliers. South Korea mainly used LPG to power cars up to 2010, but sales started to spiral down as drivers of...

  • SINGAPORE, Feb 10- Dozens of tankers used to carry refined oil products are sitting idle in Asia and the Middle East as slow trade and an oversupply of ships have cut daily earnings to as little as a fifth of last year's level, shipbrokers and traders said. Shipping data in Thomson Reuters Eikon shows around 50 product tankers currently floating idle off Singapore...

  • SEOUL, Feb 2- South Korea's S-Oil Corp expects healthy refining profits this year, buoyed by growing demand for oil products in places such as China and Southeast Asia. S-Oil treasurer Shin Kwan- bae said on a call with analysts that the company expected the official selling price for Arab Light crude, supplied by Saudi Arabia, to remain steady in Asia from last year.

  • KUWAIT, Jan 25- Saudi Aramco has shelved plans for a partnership with Malaysian state-oil firm Petroliam Nasional Berhad in a $27 billion refining and petrochemical project in the southeast Asian country, industry sources familiar with the matter told Reuters on Wednesday. Aramco had been in talks with Petronas about a joint venture in the Refinery and...

  • SEOUL, Jan 19- Lotte Chemical Corp is looking into acquiring troubled Singapore petrochemical company Jurong Aromatics Corp, as the South Korean company continues to push for growth. It was also forced to halt production for around 18 months until last summer to fix a technical issue at an integrated refining-petrochemical complex in Singapore that had cost...

  • SEOUL, Jan 19- South Korea's Lotte Chemical Corp said on Thursday it had submitted a letter of intent earlier this month to acquire Singapore petrochemical company Jurong Aromatics Corp. Lotte Chemical said in a filing to the stock exchange in South Korea that it had been short-listed on Jan. 10 to acquire the Singapore firm, adding that details had not been...

  • *Refinery expected to be back online this week- source. SINGAPORE/ DUBAI, Jan 16- Abu Dhabi National Oil Company has shut half the capacity at its 800,000 barrels-per-day Ruwais refinery after a fire there last week, three industry sources familiar with the matter said on Monday. The refinery mainly processes ADNOC's flagship Murban crude and the producer has...

  • *Emaar Properties pulls down Dubai. DUBAI, Dec 28- Major Gulf stock markets were mixed in quiet trade on Wednesday although some second-tier Saudi petrochemical stocks rose sharply after oil prices climbed overnight. Dubai's index dropped 0.6 percent in moderate trading volume because of a 2.5 percent drop by Emaar Properties.

  • *Riyadh acts to protect poorer citizens, petrochemical sector. RIYADH/ DUBAI, Dec 22- Saudi Arabia said on Thursday it had succeeded in cutting a huge state budget deficit caused by low oil prices and would increase government spending in 2017 to support flagging economic growth. "The public finances haven't improved on this scale since the early 1990 s, following...

  • BEIJING/ SINGAPORE, Dec 21- China's state oil and gas majors are set to import record levels of liquified natural gas this month, betting on robust demand during the cold winter months and helping lift Asian prices to their highest in nearly two years. Trade flows data on Thomson Reuters Eikon shows 7.33 million cubic meters of LNG, equivalent to 3.33 million...

  • CALGARY, Alberta, Dec 5- The Canadian oil-producing province of Alberta will offer C $500 million in royalty credits to Pembina Pipeline Corp and Inter Pipeline Ltd for their petrochemical projects, the government said on Monday, as it seeks to diversify its ailing economy. Pembina's project is a joint venture with Kuwait's Petrochemical Industries Company...

  • CALGARY, Alberta, Dec 5- The Canadian oil-producing province of Alberta will offer C $500 million in royalty credits to Pembina Pipeline Corp and Inter Pipeline Ltd for their petrochemical projects, the government said on Monday as it seeks to diversify its ailing economy. Pembina's project is a joint venture with Kuwait's Petrochemical Industries Company...

  • CALGARY, Alberta, Dec 5- The Canadian oil-producing province of Alberta will offer C $500 million in royalty credits to Pembina Pipeline Corp and Inter Pipeline Ltd for their petrochemical projects, the government said on Monday as it seeks to diversify its ailing economy.

  • CALGARY, Alberta, Dec 5- The Canadian oil-producing province of Alberta will offer C $500 million in royalty credits to Pembina Pipeline Corp, Suncor Energy Inc's Petro-Canada and Inter Pipeline Ltd for their petrochemical projects, the government said on Monday as it seeks to diversify its ailing economy.

  • TOKYO, Nov 29- Japan's Idemitsu Kosan said on Tuesday its joint venture with Mitsui Chemicals would conduct work to expand the processing of propane at Idemitsu's naphtha cracker to take advantage of cheap liquefied petroleum gas prices. The upgrade will boost the cracker's capacity to process propane as feedstock by three or four times, said Hideki Gotoh,...

  • TOKYO, Nov 29- Japan's Idemitsu Kosan said on Tuesday its joint venture with Mitsui Chemicals would conduct work to expand the processing of propane at Idemitsu's naphtha cracker to take advantage of cheap liquefied petroleum gas prices. The upgrade will boost the cracker's capacity to process propane as feedstock by three or four times, said Hideki Gotoh,...

  • *Demand driven by "Clean India" sanitation programme... *...and China's "One Belt, One Road" projects. Nov 16- From India's plan to plumb in over 100 million toilets in six years to China's ambitious new Silk Road network and the continued movement of millions of people into cities across Asia, plastic makers face years of strong demand.

  • SEOUL, Nov 15- South Korea's Hyundai Chemical, a joint venture between Hyundai Oilbank Co and Lotte Chemical, has finished building a 1.2 trillion won condensate splitter to produce mixed xylene and light naphtha. The 130,000 barrels-per-day condensate splitter in Daesan on the country's west coast will churn out 1.2 million tonnes per year of mixed-xylene...

  • SINGAPORE, Nov 11- Spot demand from Vietnam and term demand for reformate from Taiwan supported gasoline margins, traders said. Indonesia's Pertamina will shut its Balikpapan refinery for maintenance and carry out maintenance on the single point mooring system for its Cilacap refinery in March, according to three sources close to the matter.

  • *PTTGC Q3 net 6.23 bln baht vs 1.2 bln baht yr earlier. BANGKOK, Nov 9- The refining and petrochemical divisions of Thailand's largest energy group PTT Pcl on Wednesday both reported strong third-quarter profit growth partly due to improvements in the refinery business. PTT Global Chemical Pcl, Thailand's largest petrochemical maker, reported a 416 percent...