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…
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…
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…
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