Rosneft’s bid to offload its 49.13% stake in Nayara Energy is now imperiled following the European Union’s most recent sanctions package targeting Russian energy ties, according to a Bloomberg report. As part of the EU’s 18th round of sanctions, refined petroleum products derived from Russian crude, even when processed in third-country facilities, are expressly banned, […]
Vietnam has implemented a 2% import duty on HDPE and LLDPE, effective July 8, 2025, aiming to shield its only domestic polyolefin producer, Long Son Petrochemical (LSP), from a surge of low-priced imports, particularly from Southeast Asia and China. LSP had lobbied for a 3% tariff during the development of its new facility, but downstream […]
Ethylene prices in Asia held steady on Tuesday despite bearish signals from energy markets. CFR Northeast Asia ethylene was assessed at USD 815–825/mt, unchanged from Monday’s assessment, while CFR Southeast Asia remained flat at USD 825–835/mt, according to a regional industry source who noted that “prices remained constant amid a muted buying momentum in the Asian markets.” […]
Sadara Chemical Company has declared a force majeure on LDPE supplies from its Al Jubail plant following a fire incident in early July 2025. The company reported the site fire mid-month, prompting a temporary halt in operations, though the duration of the disruption remains unspecified. Located in Al Jubail, Saudi Arabia, this LDPE unit supports an annual […]
Hyundai Chemical Co Ltd is preparing for a significant scheduled turnaround at its LDPE/EVA swing plant in Daesan, South Korea, with maintenance anticipated to begin on October 13, 2025, and extend through November 24, 2025, according to a source speaking on condition of anonymity. The facility, which has an annual production capacity of approximately 300,000 mt, routinely […]
Propylene prices in Asia remained stable on Tuesday, showing resilience in the face of declining energy values. Despite softer crude and feedstock dynamics, regional benchmarks were assessed unchanged, as buying activity stayed subdued and market participants maintained a cautious stance. A regional trader, speaking on condition of anonymity, noted, “Prices were left unchanged on the […]
ChemOne Group, a Singapore-based petrochemicals, green energy, and natural resources conglomerate, has completed a significant milestone by securing finance for the Pengerang Energy Complex (PEC) in Johor, Malaysia. The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a wholly-owned subsidiary of the Islamic Development Bank (IsDB), has authorized a historic US$350 million […]
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