Saudi Aramco is advancing a sweeping investment program worth approximately $90 billion, launching nearly 100 mega-projects that span oil, gas, petrochemicals, low-carbon energy, and digital innovation. According to CEO Amin Nasser, this massive pipeline is currently under implementation and reflects the company’s long-term strategic push to diversify its operations and secure the Kingdom’s energy future. […]
US spot ethylene prices fell further last week, extending a downward trend that has persisted through August despite reports of supply disruptions at major olefins facilities. Market sentiment remained bearish as ample availability and weak downstream demand outweighed temporary outages. A market source told that, “Spot ethylene prices in the U.S. kept declining, even with […]
ABB has entered a landmark supply agreement with Citroniq to provide advanced automation, electrification, and digital technologies for what is set to become the world’s first full commercial-scale biogenic polypropylene facility. The project, located in Nebraska, will use corn-based ethanol feedstock to produce fully certified 100% bio-based polypropylene, with operations scheduled to begin in 2029. […]
High-density polyethylene (HDPE) prices across Latin America slipped this week, weighed down by fragile fundamentals, seasonally sluggish demand, and competitive import pressure from the US and Middle East. Market participants described sentiment in the West Coast of South America and the Mercosur region as negative, with buyers opting to defer fresh commitments in anticipation of […]
Evonik has officially inaugurated Asia’s first world-scale alkoxides facility on Jurong Island, Singapore, a development that marks a pivotal step in its global catalyst strategy and reinforces its long-term commitment to the region. The plant, which carries an annual production capacity of 100,000 metric tons, represents a mid-double-digit-million-euro investment first announced in May 2023. Built […]
Recycled high-density polyethylene (R-HDPE) markets in Asia showed a modest uptick this week, with natural film pellet prices climbing slightly even as black blow molding grades held steady. Market sentiment, however, remains cautious as recyclers struggle to compete with cheaper virgin polyethylene. A regional industry source told that, “The Asian R-HDPE natural film pellet market […]
Over the past decade, the Gulf Cooperation Council (GCC) petrochemical sector has quietly undergone a transformative evolution, blending environmental stewardship with economic savvy. Led by the forward-thinking Gulf Petrochemicals and Chemicals Association (GPCA), the industry has demonstrated that sustainability and growth can go hand in hand, if guided by strategic vision. Between 2013 and 2023, […]
Abu Dhabi’s ADNOC has sealed a landmark 15-year Sales and Purchase Agreement with Indian Oil Corporation Ltd (IndianOil), committing to supply one million tonnes per annum of liquefied natural gas from its lower-carbon Ruwais LNG project. The deal, which builds on an earlier Heads of Agreement, marks a significant expansion of ADNOC’s footprint in Asia’s […]
PetroChina, Asia’s largest oil and gas producer, reported a sharp decline in first-half profit as weaker crude prices and a sluggish domestic recovery eroded margins across its upstream and downstream segments. The state-owned giant posted a net income of CNY 68.3 billion ($9.4 billion) for January to June 2025, down nearly 10 percent compared with […]
In a dramatic effort to defuse escalating trade tensions, the European Union has announced plans to fast-track the removal of all tariffs on U.S. industrial goods, aiming to push the legislation through by the end of this week. The move comes as part of a broader negotiation to secure a reduction in hefty U.S. tariffs […]
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