Bharat Petroleum Corporation Ltd (BPCL) has announced plans for a ₹95,000 crore refinery expansion project aimed at significantly boosting India’s domestic refining capacity and reducing reliance on imports. The investment, one of the largest in the state-run refiner’s history, underscores the company’s strategic push to strengthen energy security while aligning with the nation’s long-term industrial […]
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 […]
Europe’s polyethylene terephthalate (PET) market has seen its summer uptrend lose momentum, with sellers now facing mounting pressure as expectations for September weaken. After several weeks of firmer pricing supported by seasonal beverage demand and constrained imports, the market has shifted, revealing signs of fragility that could usher in a softer outlook for the autumn […]
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 […]
The petrochemical complex faced renewed headwinds on Wednesday, with futures contracts for key polymers on the Dalian Commodity Exchange extending losses amid persistent concerns over demand recovery. Polypropylene, linear low-density polyethylene (LLDPE), and polyvinyl chloride (PVC) futures all closed lower, dragging down sentiment across the wider value chain. Polypropylene contracts settled at CNY 7,021 per […]
In a strategic move that signals mounting supply constraints, a leading Saudi Arabian petrochemical supplier has raised its September offers for LDPE and LLDPE film destined for China. The adjustments, driven by tighter Middle Eastern allocations, hint at a shifting balance in the global polyolefin supply landscape. While detailed pricing figures were not publicly disclosed, […]
In a decisive move to address chronic oversupply and bolster shrinking profit margins, South Korea has launched an ambitious restructuring of its ailing petrochemical sector, targeting the dismantling of small, standalone naphtha crackers in favor of streamlined operations and strategic consolidation. Under a government-guided voluntary pact, ten leading petrochemical companies have agreed to slash naphtha-cracking […]
The Asian Linear Low-Density Polyethylene (LLDPE) market experienced a varied trend this week, with prices rising in the Far East while remaining steady across most other regions. Market sentiment was shaped by geopolitical tensions, shifting supply fundamentals, and cautious buying behavior, with offers for September shipments reflecting both optimism and restraint. In Far East Asia, […]
Polymer futures in China closed weaker on Monday, with all major contracts recording losses despite intraday fluctuations. Linear low-density polyethylene (LLDPE, l2601) opened at RMB 7,427 (USD 862) per tonne and traded between RMB 7,455 (USD 865) and RMB 7,396 (USD 858) before settling at RMB 7,402 (USD 859). The close marked a decline of […]
Polypropylene (PP) prices declined across several parts of Asia this week, with regional markets weighed down by oversupply concerns, muted demand, and cautious trading activity. An industry source in Asia, speaking on condition of anonymity, told a Polymerduniya team member that geopolitical tensions, particularly the ongoing Russia–Ukraine conflict, continue to inject short-term volatility into the […]
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