Chemical News
-
China drives global oil demand growth during pandemic Nov 26,2020
NEW YORK -- China, with its rising refining industry, has driven global oil demand as the COVID-19 pandemic slashed it, and is emerging in the global refining industry shift, according to the International Energy Agency. Bloomberg quoted the agency as saying that as the demand for plastics and fuels grows in China and the rest of A...>>>
China's offshore gas fields project starts operation Nov 26,2020
BEIJING -- The Dongfang 13-2 gas fields project, China's largest offshore high-temperature and high-pressure gas fields project, has been put into operation, its operator said Wednesday. The project will likely have a peak annual gas output of over 3 billion cubic meters. It can serve 1 million people for 15 years, said China Natio...>>>
Inventors nationwide put their creations on display in Foshan Nov 26,2020
More than 2,050 inventions from across China were showcased at the 24th National Exhibition of Inventions that opened in Foshan, Guangdong province, last week. This year's event, held from Nov 19-21, attracted more than 5,000 participants from more than 800 companies, universities and research institutes. It featured an...>>>
Center-South Brazil sugar production at 37.66 million mt, a spike of 44.46% on year: UNICA Nov 26,2020
Center-South Brazil produced 1.24 million mt of sugar in the first two weeks of November, with cumulative production since the start of the season on April 1 reaching 37.66 million mt a jump of 44.46%, or 11.59 million mt, year on year, according to data released Nov. 25 by industry association UNICA. Sugar production in the first half of Novemb...>>>
China's solvent-grade mixed xylene demand grinds to a halt ahead of expected consumption tax: sources Apr 17,2017
Demand for solvent-grade mixed xylene has come to a near standstill this week as the product shares the same code for imports as mixed aromatics, which is expected to have a consumption tax imposed some time between May 1 and July 1, market sources said this week. Solvent-MX and mixed aromatics share the same harmonized system (HS) code for impo...>>>
Aegean says to supply ultra low sulfur fuel oil at all ARA ports Apr 17,2017
Bunker supplier Aegean said Wednesday it is able to supply ultra-low sulfur fuel oil in all ports in the Amsterdam-Rotterdam-Antwerp bunkering hub with immediate effect. The company did not reveal which producer will make the product. "We are responding to increased levels of demand for ULSFO from our clients in the region," Aegean NWE region...>>>
New Orleans MGO discount to Houston at widest level in over seven weeks Apr 17,2017
The New Orleans MGO discount to the same product in Houston reached its widest point Tuesday in more than seven weeks amid fierce supplier competition and an environment with poor supply and demand fundamentals, market sources said Tuesday. New Orleans MGO was assessed at $488/mt ex-wharf, a $20/mt discount to the same product at the competing p...>>>
Strong freight leaves less room for East-West fuel oil arbitrage: traders Apr 17,2017
The East-West arbitrage to take high sulfur fuel oil on VLCCs and Suezmaxes from the Amsterdam-Rotterdam-Antwerp region to Singapore will see fewer fixtures due to stronger freight, according to traders. Freight for a 270,000 mt VLCC to carry fuel oil to Singapore reached a two-week high Monday after strong crude demand saw VLCC fixtures soar, t...>>>
Feature: Low Brazil hydro to boost fossil fuel-fired power output, LNG import Apr 17,2017
Brazil's hydropower shortfall will lead the state-owned power grid operator to increase the use of fossil fuel-fired power this year, a move that will eventually lead to higher prices for consumers and a surge of LNG imports, sources say. "With the weak inflows and consequently water scarcity, we have seen many expensive thermo-electric plants a...>>>
North Dakota oil output rises back above 1 mil b/d in Feb Apr 17,2017
North Dakota crude oil production rose back above the 1 million b/d threshold in February for the first time since November, but output could drop as low as 950,000 b/d in March or April as frozen roads thaw and force the state to impose weight restrictions on service trucks, the state's top oil and gas regulator said Thursday. February's prelim...>>>
Middle East crude oil grades under pressure as Brent/Dubai EFS narrows to 19-month low Apr 17,2017
Middle East crudes are likely to face continued competition from Western arbitrage barrels, as the Brent/Dubai Exchange of Futures for Swaps fell to a 19-month low of 96 cents/b on Thursday, traders said. The EFS spread -- a key indicator of ICE Brent's premium to benchmark cash Dubai -- has been narrowing sharply this year, as the OPEC cuts hav...>>>
Russian oil refinery runs due to fall in April on maintenance: IEA Apr 17,2017
Russian refinery runs are expected to fall in April month-on-month on "the maintenance season peak," the International Energy Agency said in its latest monthly report Thursday. A host of Russian refineries are starting works over the course of April, including Ryazan, Novokuybishev, Orsk, Astrakhan, Syzran and Taneco, according to trading source...>>>
NYMEX May natural gas settles at $3.187/MMBtu, up 3.7 cents Apr 17,2017
The NYMEX front-month natural gas contract edged 3.7 cents higher Wednesday to settle at $3.187/MMBtu, chipping into Tuesday's near 9-cent decline ahead of the weekly US Energy Information Administration natural gas storage report. According to Platts Analytics' Bentek Energy, US demand is expected to surge 2 Bcf day on day Thursday, reaching ab...>>>
UK wholesale spot natural gas prices rise on short system, curve edges higher Apr 17,2017
Near-term UK wholesale natural gas prices edged higher in early Thursday trade on the back of a short system ahead of the long weekend, with the NBP curve following suit. National Grid 10:00 am (0900 GMT) figures put the UK gas system short by 8 million cu m, as physical flows of 248 million cu m/d were behind demand forecasts for the day of 255...>>>
China's March crude steel output of 72 mil mt at new record high Apr 18,2017
China has produced 72 million mt of crude steel in March, the highest on record and up 1.8% from March 2016, data released by the National Bureau of Statistics Monday showed. The previous record high was in March 2016, at 70.65 million mt. The March 2017 output was a 17.8% jump from February, S&P Global Platts calculations showed. January ...>>>
Nova grows USGC footprint with deal to buy Williams' Geismar olefins assets Apr 18,2017
Nova Chemicals will further expand its petrochemicals footprint in the US Gulf Coast after agreeing to acquire Williams Partners' Geismar, Louisiana, olefins assets in a $2.1 billion deal, the companies said Monday. The deal marks Nova's second planned investment this year in US Gulf Coast petrochemicals production. Nova's cash deal with Will...>>>
Horsehead works to restart zinc plant in Mooresboro, North Carolina Apr 18,2017
Horsehold Holding LLC, the largest US zinc producer, is working to restart the long-idled Mooresboro zinc plant in North Carolina, an official with the company said Monday. The official, who asked not to be identified, said it is uncertain if the plant will resume production before the end of 2017. But the official confirmed that an eventual ...>>>
US sheet market stable on lean service center inventories Apr 18,2017
US sheet market buyers have seen hot-rolled coil prices edge down in the last few weeks, but market sources said Monday that low inventories at service centers could keep prices from falling much more. Market sources were anticipating the public release of the Metals Service Center Institute data, which will be released Tuesday. In January, US s...>>>
Hamilton No. 1 coal mine in Illinois hits annual run rate in Q1 Apr 18,2017
Alliance Resource Partners' Hamilton No. 1 longwall mine in southern Illinois ramped up to its projected annual run rate of 6 million to 7 million st of thermal coal by turning out 1.7 million st in the first quarter of 2017, a state mining official said Monday. Hamilton 1 was known as White Oak No. 1 before privately owned White Oak Resources w...>>>
ConocoPhillips has potential buyers for LNG plant in Alaska Apr 18,2017
ConocoPhillips is negotiating with potential buyers for the company's mothballed liquefied natural gas plant at Nikiski, on the Kenai Peninsula south of Anchorage, a company spokeswoman said Monday. The plant, which has a capacity to manufacture up to 1.5 million mt/year of LNG, was built in 1968 by Phillips Petroleum and made regular shipments ...>>>