Oil & Gas

Jul 18th, 2017

China Reduces Imports of Crude Oil in Q3 2017

Leading Chinese refineries reduce production for the summer period. Specifically, in the third quarter, 10% of the national production capacity will be closed. This is primarily due to the growth of electricity consumption plus a large number of accumulated petroleum products. China is the leading importer of crude oil, but currently, there is a decrease in...

May 30th, 2017

Japanese Gas Producers Successfully Extract Gas from Methane Hydrate

The Ministry of the Environment of Japan reported that Japan Oil, Gas and Metals Corp. (JOGMEC) had extracted natural gas from methane hydrates. In early May, the company successfully produced the first batch of gas from methane. The gas forms from methane and water at high pressure and low temperatures found in the Arctic Region...

Feb 27th, 2017

Independent Oil Refiners in China Have Increased the Imports of Heavy Oil from North America

Since the end of 2016 Chinese independent oil refiners have increased oil purchases from North America. Big oil traders are completely certain that the import of raw materials from these regions will only increase. Some industry traders believe that this is due to the decline of heavy oil by OPEC countries to China, as well...

Oct 14th, 2016

Shale gas perspectives in Armenia

Armenia is finishing the construction of the factory that will process the oil shale in 2016. Over the following two years, Armenia will have to start implementing the oil shale industry development project. Dr Sam M. Said is a director of the multinational incubator of energy technologies, based in the U.S., Japan and other...

Sep 23rd, 2016

Petrochemical industry of Iran invites big investments from abroad

The largest sources of foreign exchange earnings in Iran are oil and the petrochemical industries. Prolific stocks of raw materials offer Iran great prospects to become the major petrochemical manufacturer and supplier in the Persian Gulf. In 2015 exports of the petrochemical industry in Iran amounted to nearly $ 13 billion. According to the Minister...

Sep 19th, 2016

OPEC countries got the lowest revenue from oil exports over the past 12 years

Net revenues from exports of oil countries-exporters of oil in 2015 amounted to 404 billion dollars, which is 46% lower compared to 2014. The decline in revenues from oil is directly dependent on crude oil prices, which have declined over the past 2 years. So in June 2014, Brent crude was $112 per barrel and...

May 17th, 2011

Naphtha Continues to Slip in Asia

Naphtha prices in Asia fell for the third day. Open-spec naphtha for delivery to Japan fell by over 8 dollars to US$975.75/ton, Bloomberg data showed. Crack spread was little changed at US$127.95/ton Source: Plastemart Related Reports: Refined Naphthalene Market Research (China) ...

May 12th, 2011

Naphtha/Gasoline Cracks in Asia May Not Continue to Stay Firm

Asia’s naphtha prices rose for the third consecutive day on Wednesday, to a four-session high, and have recovered most of the US$106/ton it lost in a single day last Friday, as per Reuters. Some sellers continue to be upbeat, on expectations of tight supplies next month. However, India’s Reliance Industries’ decision to cancel a term...

Jan 26th, 2011

Japan’s Naphtha Imports Rise

Japan’s naphtha imports for the petrochemical sector rose 2.3% in December 2010, compared to same month in 2009. Imports of naphtha for ethylene production amounted to 1,549,841t during December, according to data from Japan’s Ministry of Economy, Trade and Industry. Naphtha imports totalled 1,515,401t in December 2009 and 1,654,586t in November, according to Reuters. Naphtha is the main...

Jan 24th, 2011

Coal Market Trends of 2010

Global demand for coal drove prices up in 2010, and this trend should continue in coming years, due in part to growing energy needs of the world’s two largest consumers of coal: India and China. China, the world’s fastest growing major economy, has massive coal reserves, but the country’s energy consumption is growing so rapidly that...

Jan 24th, 2011

Japan’s Naphtha Imports for the Petrochemical Sector Rose 2.3%

Japan’s naphtha imports for the petrochemical sector rose 2.3% in December 2010 vs December 2009, as per government figures. This marks the third consecutive gain. Imports of naphtha for ethylene production amounted to 1,549,841 tons in this period, as per the Ministry of Economy, Trade and Industry, vs 1,515,401 tons in December 2010, and 1,654,586...

Jan 20th, 2011

Profits From Making Gasoline From Naphtha Rising at the Fastest Pace in a Year in Asia

Profits from making gasoline out of naphtha in Asia are rising at the fastest pace in a year as global supplies of naphtha as feedstock for plastics increase, as per Bloomberg. Gasoline’s premium to naphtha jumped as high as US$11.75 a barrel on Jan. 13 from US$$5.50 on Dec. 31. Should the difference end this...

Nov 4th, 2010

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL Yo-yoing oil prices have ended the week of November 1, 2010 a tad higher than last week. Oil for December delivery rose to US$81.96 on the Nymex, while Brent crude for December settlement rose to US$83.36 a barrel on ICE Futures Europe exchange. Speculations of another round of credit-easing measures by the US Federal...

Nov 1st, 2010

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL Crude oil prices have moved up to end the week of October 25, 2010 at US$81.7 on the Nymex while Brent crude for December traded at US$83.4 on the ICE Futures Europe exchange. An on going strike in France is expected to lead to a rise in French demand for imported fuel. A widespread...

Nov 1st, 2010

Naphtha Prices in Asia Recover, Cracks Rebound

Robust industry demand has led Asian naphtha prices to recover to a three-session high midweek, while cracks rebounded from a near two-week low to reach their highest in a week, as per Reuters. Amid ample supplies, sentiments have been boosted as South Korea’s Honam Petrochemical and Samsung Total, and Japan’s Exxon and Tosoh seek cargoes...

Oct 28th, 2010

Asia Naphtha Margin Falls on Speculation that Japan Could Reduce Tax Breaks on Naphtha Cargoes

Naphtha margins in Asia fell to US$130.70/ton; the lowest in at least two weeks on speculation that Japan may recommend reducing tax breaks on naphtha cargoes, as per Bloomberg. Japan is one of the biggest importers of the fuel in Asia. A Japanese government tax panel will recommend reducing tax breaks on procurement of naphtha...

Sep 23rd, 2010

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL Restart of the Enbridge pipeline, which carries Canadian crude into the US, has led to a fall in crude oil in the week of September 20, 2010. Oil dropped to US$73.5 on the Nymex, while Brent crude on the ICE futures exchange fell to US$77.8. Brent crude contract remains higher amid relatively tight crude...

Sep 23rd, 2010

Asian Naphtha Prices at One-week Highs, Cracks at Five-session High

Asian naphtha price rose to a one-week high on Tuesday, cracks touched a five-session high and intermonth contango narrowed for the second straight-session despite the weak fundamentals, as per Reuters. The higher cracks could be a sheer reflection of a technically shut West-East window. Sinking crack values will compel sellers to look outside of the...

Aug 3rd, 2010

Oil Hovers Above US$81 in Asia After Stocks, Dollar Fuel Jump to 3-month High

SINGAPORE (AP) - Oil prices are hovering above US$81 a barrel in Asia after surging stock markets and a weaker dollar helped boost crude to nearly a three-month high in the previous trading session. Benchmark crude for September delivery was up 9 cents to $81.43 a barrel at midday Tuesday in Singapore in electronic trading on...

Jun 23rd, 2010

Solvents. In 2010 Butyl Acetate Market Indicates Recovery

Each group of Solvents has a definite ability to solve a particular kind of synthetic, artificial and natural film-forming product. One-component solvents are used for dissolving different types of polycondensing film-forming products and natural resins. Multicomponent solvents are used primarily when handling cellulose ester, polymerizing film-forming products. The most widespread Solvents groups are Hydrocarbons –...