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Chemicals Commodity Chemicals

  • BEIJING, July 11- Germany's BASF managed to wrap up a preliminary deal to build China's first wholly foreign-owned chemicals complex quite quickly, aided in part by trade tensions between Beijing and Washington, sources with knowledge of the matter said. In reaching out to Europe, China is showing it is open for business as the trade row with Washington deepens.

  • LAGOS, July 6- An oil refinery being built by Aliko Dangote will account for half of his conglomerate's assets when it is finished next year, a senior executive told Reuters, underscoring the scale of the bet being made by Africa's richest man on Nigerian oil and gas. Though Africa's biggest crude oil producer, Nigeria imports almost all of its gasoline due to poor...

  • SINGAPORE, July 2- Crude oil trader Michael Huang is expected to join Exxon Mobil Corp in Singapore soon as the U.S. major expands its trading team to sell its oil into China, the world's top importer of the commodity, three industry sources said. Huang was recently a Singapore- based crude trader for Chinese independent refiner Wonfull Petrochemical, purchasing...

  • SINGAPORE, June 22- Asia's naphtha crack ended the week at a two-session low of $71.20 a tonne as high oil prices and expanding supplies countered strong demand, with at least four buyers seeking cargoes at the same time.- Taiwan's Formosa Petrochemical Corp, also Asia's top naphtha importer by volume, bought some 100,000 tonnes of open-specification naphtha...

  • SINGAPORE, June 18- Asia's naphtha crack for first-half August hit $77.32 a tonne on Monday, making it the lowest front-month value in nearly two months as supplies were expected to increase.- Around 1.4 million tonnes of the fuel, which is used in the petrochemical industry and also to blend with petrol, are expected to land in Asia in July, the highest monthly level...

  • BEIJING, June 15- China's independent oil refiners are suffering a drastic change of fortune as new tax rules, shrinking diesel demand and higher crude prices threaten their nearly three-year profit bonanza. Industry executives and analysts said nearly 40 private refiners, often called "teapots"- which account for a fifth of China's almost 10 million barrels...

  • *Sibur plans new large gas chemical complex in Russia's Far East. MOSCOW, June 8- Russian petrochemical company Sibur said its plans to build a gas chemical complex in Russia's Far East will require preliminary investments of up to $8 billion and it is still looking for Asian partners. Sibur's Chief Executive Officer Dmitry Konov told Reuters in a recent...

  • SINGAPORE, June 8- Asia's naphtha crack fell for a fourth straight session to $80.68 a tonne on Friday, making this the lowest front-month value since April 26 as strong oil prices dragged.- However, fundamentals were strong as demand was firm and these were reflected in the spot premiums.- SK Energy, for instance, bought naphtha for second-half July delivery at...

  • BEIJING, June 8- China's May crude oil imports eased away from record highs hit the month before, customs data showed, with state-run refineries entering planned maintenance and some independent plants told to curb operations ahead of a summit at a key port city. May shipments were 39.05 million tonnes, or 9.2 million barrels per day, according to data released on...

  • PORT ARTHUR, Texas, June 4- Adding petrochemical plants is how French energy conglomerate Total SA plans to expand along the U.S. Gulf Coast in the coming years, a company executive said on Monday. Christophe Gerondeau, country chairman for Total in the United States, described the plans at the ground-breaking ceremony for a new 1 million ton per year ethane...

  • SINGAPORE, June 6- Asia's naphtha crack fell for the second straight day to reach a near 1-1/ 2 month low of $87.60 a tonne on Wednesday as high oil prices and weak gasoline fundamentals weighed.- But naphtha spot premiums stayed strong due to demand.- South Korea's GS Caltex emerged to buy naphtha and paid a premium in the high teens per tonne level to Japan quotes on a...

  • KUALA LUMPUR/ SINGAPORE, May 25- Singapore's third derivatives exchange kicked off trading on Friday with the launch of palm oil futures, with other contracts expected down the line. The U.S. dollar-denominated palm olein futures will give traders another option beyond benchmark ringgit-denominated contracts offered from Malaysia as the Asia Pacific...

  • TOBOLSK, Russia, May 18- On a sprawling construction site in Western Siberia, about 20,000 workers are busy building what will be one of the world's five biggest petrochemical plants, part of a play by Russia to capture more of the value from the oil it produces. According to the EY consultancy, Russia accounts for about 1 percent of global petrochemical output,...

  • MUMBAI/ NEW DELHI, May 17- At the International Energy Forum in Delhi in April, the world's top oil producer Saudi Aramco inked a preliminary deal https://in.reuters.com/article/india-ief-saudi-refinery/india-saudi-aramco-to-pa r t n e r- o n- 4 4- b i l l i o n- r e f i n e r y- p e t c h e m- p r o j e c t- i d I N K B N 1 H H 3 8 0 to partner with a consortium of Indian players to build a $44...

  • Also weighing on risk appetite was news that North Korea canceled high-level talks with Seoul, denouncing military exercises between South Korea and the United States, breaking from several months of easing relations on the peninsula. SHANGHAI COPPER: The most-traded July copper contract on the Shanghai Futures Exchange slipped 0.5 percent to 51,030 yuan...

  • DUBAI, May 14- Abu Dhabi National Oil Company has signed a project development agreement with Spain's Cepsa for a new linear alkylbenzene facility in ADNOCs Ruwais refining and petrochemicals complex. The national oil company plans to invest $45 billion over the next five years to expand its refining and petrochemicals operations, it said on Sunday.

  • *Al-Kaabi aims to keep Qatar's No. 1 LNG exporter ranking. DOHA, May 8- When Qatar's Gulf neighbors and Egypt sought to isolate Doha with a boycott imposed last year, the nation's top energy official kept a cool head and ensured oil and gas exports barely felt a hiccup. His understated office layout gives little indication that Al-Kaabi is one of Qatar's most...

  • ALGIERS, April 30- Algeria's state energy firm Sonatrach said on Monday it boosted its gas output by 5 percent to 135 billion cubic meters in 2017, marking the first time the company has used a news conference to disclose production data. Oil production fell 3 percent due to OPEC quotas, he said. Algeria, a member of the Organization of the Petroleum Exporting...

  • HOUSTON, April 27- Phillips 66 expects a final investment decision on building an ethane cracker on the U.S. Gulf Coast by joint-venture Chevron Phillips Chemical Co by late 2019, Phillips 66 Chief Executive Greg Garland said on Friday. Chevron Phillips, a petrochemical joint venture between Chevron Corp and Phillips 66, recently started up a 1.5-...

  • BEIJING, April 26- Some of the China's largest refineries, including Sinopec's Zhenhua Refining and Chemical Company, will shut for maintenance starting in the second quarter. The table below shows maintenance plans for 11 refineries in the second and third quarter. Shanghai Gaoqiao 13 Starting March 20 for 69 days Full.