Chemicals Commodity Chemicals

  • BEIJING/ SINGAPORE, Jan 21- Chinese oil refiners raised their output to a record in 2018, led by state-run oil majors which maximised operations on firm profit-margins and private refiners which increased processing after being granted higher crude import quotas. Refiners processed 603.57 million tonnes of crude last year, or about 12.07 million barrels...

  • SINGAPORE, Jan 16- Asia's gasoline crack was at a discount of 32 cents a barrel to Brent crude on Wednesday, 1 cent higher than the previous session which was near a one-week low on the back of an unyielding glut.- The bearish fundamentals have dragged the average gasoline profit margin for the first-half of January to about 45 cents a barrel, the lowest for the period...

  • SINGAPORE, Jan 10- German chemicals giant BASF on Thursday said it had selected the port city of Zhanjiang in the southern Chinese province of Guangdong as the site for its $10 billion petrochemicals complex. "By 2030, China's share of global chemical production will increase to nearly 50 percent," BASF Chairman Martin Brudermüller said in a statement issued...

  • SINGAPORE, Jan 4- Light distillate fuel stocks at Asia's refining hub in Singapore have climbed to a record on surging supply, just as fears emerge of an economic downturn heading into 2019.. Light distillate stocks in Singapore, which include the key transportation fuel gasoline and important petrochemical feedstock naphtha, rose by 1.47 million barrels in...

  • *Singapore dominance as bunker port still hard to beat. The port facilities in the cluster of islands around Zhoushan have annual marine fuel sales of 3.6 million tonnes, less than a tenth of the record 50.6 million tonnes of shipping or bunker fuel Singapore sold in 2017.. Zhoushan wants to go after the fueling business represented by this traffic, and many...

  • BEIJING, Oct 29- Chemical giant BASF said on Monday it had signed a memorandum of understanding with China's Sinopec Corp to build a steam cracker in east China, the second major investment pledged by the German firm in four months. China, the world's top chemicals consumer, is allowing greater access by global majors and local independents to its massive...

  • *Signs MoU to build steam cracker with Sinopec Corp. BEIJING, Oct 29- German chemical giant BASF said on Monday it has signed a memorandum of understanding with China's Sinopec Corp to build a steam cracker in east China, the second major investment pledged by the German firm in four months. In July, the firm landed a preliminary deal to build China's first wholly...

  • *Straws, cotton-buds among products to be banned by 2021. STRASBOURG, Oct 24- European Union lawmakers moved on Wednesday to ban widely-used, throw-away plastics such as straws and cotton buds, and put a greater burden on manufacturers to recycle in an effort to clear up ocean pollution. China's decision to stop processing waste coupled with growing alarm over...

  • MEXICO CITY, Oct 17- Mexico's incoming government will soon inherit a costly dilemma over an ethane supply contract between national oil company Pemex and a consortium led by a unit of Brazilian builder Odebrecht. The plant is operated by the consortium in which Odebrecht's unit Braskem has a 75 percent stake and Mexico's Grupo Idesa holds the remainder.

  • Its gas strategy is moving on two tracks: expanding output of the super-cooled gas in places such as Papua New Guinea and Mozambique, and creating demand for those supplies in China by opening Exxon's first import and storage hub, according to an Exxon manager and people briefed on the company's plans. An Exxon spokesperson declined to provide an executive to...

  • MEXICO CITY, Oct 17- Mexico's incoming government will soon inherit a costly dilemma over an ethane supply contract between national oil company Pemex and a consortium led by a unit of Brazilian builder Odebrecht. The plant is operated by the consortium in which Odebrecht's unit Braskem has a 70 percent stake and Mexico's Grupo Idesa holds the remainder.

  • GROUNDBIRCH, British Columbia, Oct 16- At a massive natural gas field in northern British Columbia, Royal Dutch Shell Plc is using new technologies and processes to cut emissions to address public and environmental group concerns that Canada's nascent liquefied natural gas export industry could be a climate time bomb. The Groundbirch project, perched above...

  • NEW DELHI, Oct 16- India's Mangalore Refinery and Petrochemicals Ltd expects India to get a waiver from U.S. sanctions on Iranian oil exports this month, a company official said on Tuesday. The United States plans to impose new sanctions targeting Iran's oil sector on Nov. 4 to try to stop the country's involvement in conflicts in Syria and Iraq and bring Tehran to...

  • *China, India and emerging economies to drive demand- IEA. LONDON, Oct 5- Plastics and other petrochemical products will drive global oil demand to 2050, offsetting slower consumption of motor fuel, the International Energy Agency said on Friday. Despite government efforts to cut pollution and carbon emissions from oil and gas, the Paris- based agency said it...

  • NEW DELHI, Sept 25- India has for the first time allowed state refiners to buy 35 percent of their oil imports in tankers arranged by the seller, a document reviewed by Reuters showed, enabling them to swiftly tap cheaper cargoes. India had previously allowed state-refiners to buy only 15.48 percent of their estimated 118.15 million tonnes of oil imports in the...

  • PARIS, Sept 25- French oil and gas major Total has made a final investment decision to expand its Texas Bayport Polymers joint venture to double polyethylene production capacity to around 1.1 million tonnes a year, the company said. Total said it aimed to become a major player in the U.S. polyethylene market when it announced the joint venture in March 2017 with...

  • PARIS, Sept 25- French oil and gas major Total has made a final investment decision to expand its Texas Bayport Polymers joint venture to double polyethylene production capacity to around 1.1 million tonnes a year, the company said. Total said it aimed to become a major player in the U.S. polyethylene market when it announced the joint venture in March 2017 with...

  • SINGAPORE, Sept 25- The marine construction unit of the state-owned China Communications Construction Company on Tuesday signed an agreement to work with Singapore- based commodities trader Zenrock Group to purchase fuel. Zenrock, an oil and petrochemicals trader with offices in China and Indonesia, hopes the deal will help its expansion outside Asia.

  • *Expects to reduce Iran crude imports slightly. SINGAPORE, Sept 24- World oil demand will peak at 104.4 million barrels per day in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil use, China's Unipec said on Monday. Improved energy efficiency and technological changes, including the rise of renewables, meant...

  • NEW DELHI, Sept 20- India's Chennai Petroleum will stop processing Iranian crude oil from October to keep its insurance coverage once new sanctions by the United States against Iran go into effect, three sources familiar with the issue said. President Donald Trump pulled out of an international nuclear deal with Iran and announced new sanctions against the...