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Petrochemicals News

 

Petrochemicals: Weak Margins Sweep Asia

Jan 03, 2020

Asian petrochemical makers, who are unable to pass down sky-high feedstock costs, are resorting to run cuts or extending cracker shutdown periods to tie through the bad times.The gloom was evident across South Korea, Asia's top naphtha importer, as well as Southeast Asia as crude-derived naphtha premiums were recently either setting new records or were near record levels because of a supply crunch following drone attacks on Saudi oilfields in mid September and heavy refinery maintenance…

BP to Sell Petrochemicals Business to Ineos for $5B

Jun 29, 2020

British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary, BP’s chief financial officer, said: “With today’s…

Asia Petchem Makers Maintain Run Cuts

Mar 09, 2020

Even after an explosion idled a massive Asian petrochemicals complex, most petchem makers in the region won't up output from current low levels because sluggish demand from China will mean there is no supply gap, industry sources said on Monday…

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

China Rolls Out 17MW Floating Wind Turbine Prototype

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