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China: PetroChina raises Sep naphtha ex-refinery price by Yuan 294/mt

p>PetroChina is expected to lift naphtha ex-refinery price for its subsidiary refineries by Yuan 294/mt to Yuan 4,913/mt as from Sep 1, according to a source with the oil oligarch. The major has changed its pricing system for naphtha since Sep 1 of 2005, by taking FOB Singapore ...

China: PetroChina to kick off construction of 10-mil-mt/yr oil refining project in Yunnan in Sep

p>PetroChina would lay a foundation for a 10-mil-mt/yr oil refining project in Kunming City in Southwest China's Yunnan Province this September, expected to be complete in three years, according to an official with the local government. The project has recently got green light ...

China's CSPC restarts Nanhai propylene oxide/styrene monomer plant

p>China's CNOOC and Shell Petrochemicals Co., or CSPC, has restarted its propylene oxide/styrene monomer plant at Nanhai, a company source said Monday. The plant in Guangdong province, which is able to produce 250,000 mt/year of propylene oxide and 700,000 mt/year of SM, has been ...

Sep-delivery LPG may continue to be expensive in Asia

p>The CFR prices of LPG for September delivery to Asia may stay high, said a Singapore-based trader. The trader attributed the likely high prices to relatively stable availability and increasing demand from Asian countries ahead of winter. Mideast is forecast to export 308,000mt ...

China: S. China commercial fuel oil inventories fall slightly to 1.57-mil mt

p>Commercial fuel oil inventories of major oil terminals in South China added up to 1.56-1.58-mil mt up till Aug 25, slightly down 40,000mt from one week ago, 47% higher than the same period last year, a survey found. The volume accounted for 60% of the total storage capacity of ...

China: PetroChina to bring on stream 470,000-cu-m oil product terminal in Ningbo, E. China on Sep 5

p>PetroChina is expected to put an oil product tank farm into operation in Ningbo City of East China's Zhejiang Province on Sep 5, after it expanded storage capacity of the terminal from 54,000 cu m to 470,000 cu m, according to a source with the oil giant. The terminal would be ...

Middle East's Aug exports of spot LPG estimated to rise 0.98% to 308,000mt: on month

p>LPG producers in the Middle East have largely finished exports of spot LPG cargoes for August loading so far, estimated to amount to 308,000mt, slightly up 0.98% on month. Iran still ranked as top exporter in the month, supplying 176,000mt. UAE and Qatar each exported 44,000mt ...

China: Refining margins for major Chinese refineries hit second high level of this year

p>Crude refining margins for major refineries in China hit the second high level of 2010 as international crude prices kept falling since mid-August while sales revenues of their products rose, a survey found. If calculated on the basis of integrated oil products wholesale prices...

China: Gasoline blendstocks swarm into China spurred by lucrative blending margin

p>Low cost gasoline blendstocks imports swarm into China in the first half of this year driven by handsome gasoline blending margins, though the Chinese gasoline market remains oversupplied. In the first half year, the WTI crude price fluctuated between US$70-75/bbl, a relatively ...

Asia's Largest Single Set of Pentaerythritol Facility Started Production

p>Bijie Jinhe Chemical s 30kt/y pentaerythritol facility, Asia s largest single set of pentaerythritol facility, put into operation on August 17th. After its on-stream, the supplies were exported to Singapore, Malaysia and so on. The facility was invested by Hubei Yihua Group Co....

China: New 8.7 mt/y Ethylene Capacity will be Built in China before 2015

p>It was reported that by 2015 China will add 8.7 mt/y ethylene capacities, of which 42% of the new capacity will be commissioned in the next two years. By that time, China's ethylene capacity will exceed Japan, Korea and China Taiwan combined. As of the end of 2009, China has 13...

Kraton Initiates Project Assessment for New 30 Kta HSBC Plant in Asia

p>Kraton Performance Polymers, Inc. (NYSE: KRA), a leading global producer of styrenic block copolymers or "SBC's" (together with Kraton Polymers LLC and its other subsidiaries, "Kraton"), announced that it has initiated a project assessment, which includes site-selection ...

LyondellBasell to Build a Third PO Facility in Asia

p>According to foreign media reports, reliable source said LyondellBasell planned to build a third PO facility in 2014 or 2015 at Asia area. The message said, the company is planning concrete plan for the new facility including capacity, and is predicted to officially announce ...

Brazil's Braskem mulls August PE, PE increase for Andean area

p>Brazil's Braskem was considering a $50/mt increase on polyethylene and polypropylene prices to the Andean region and Central America, a company source said Tuesday. For the second half of August, Brazilian resin offers increased $100-150/mt on support by firm demand with ...

China's Jul imports of Oman methanol hits all-time high 138,104 mt

p>China's imports of Oman-origin methanol came in at a whopping 138,104 mt in July this year, the highest volume recorded since Oman began exporting methanol in 2007, data released Wednesday by Chinese customs shows. The large import volume from Oman -- an increase of 189.3% on ...

Qatar's Tasweeq fails to award term tender to sell 450,000 mt LPG

p>Qatar's Tasweeq did not sell any product through its tender, which offered 450,000 mt of refrigerated LPG for supply on a term basis, several market sources said this week. The state-owned petroleum products marketing company came to the spot market in early August to sell ...

US shale gas has transformed world markets: US State Department

p>"The US shale gas phenomenon has transformed global markets," the head of the US Department of State's Global Shale Gas Initiative said Tuesday, a transformation that has rendered the US gas-independent and pushed liquefied natural gas originally produced for the US back onto ...

Indonesia's Tangguh LNG trains may hit 100% operating rate by Nov

p>The Indonesian unit of BP is expected to finally operate both trains at the Tangguh LNG project at full capacity by November, but the company's LNG shipment target for 2010 may not be met due to unscheduled maintenance that has lowered the run rate at train 2, senior officials ...

UK GAS: Prompt dips slightly on stable supply margins

p>UK prompt gas prices started Wednesday's session in a fairly stable mood as the supply picture remained unchanged on the day. UK within day gas traded last at 41.90 pence a therm by 1030 London time, down 0.40 p/th on the day, while gas for next day delivery was 0.70 p/th lower ...

China: CNOOC, Australia JV ink deal to develop 3 China Beibu Gulf oil fields

p>Four Australian joint venture partners have signed an agreement with the China National Offshore Oil Corporation, or CNOOC, to develop three oil fields in southwest China's Beibu Gulf. The supplemental development agreement was signed in Beijing on Tuesday for the 6.12, 6.12 ...
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