all things petrochemicals
Highlights Delta concerns ease amid vaccination push OPEC+ to raise output Aug. 1 ICE Brent backwardation hits 22-month high Crude futures extended their bull run July 30, settling higher for a third straight session, as the market looked past pandemic-related demand concerns toward tightened supply
Highlights June crude imports rise 7.4% on year for third straight month of increase But strict movement restrictions could hit Q3 refinery runs, fuel demand Hydrogen projects may trigger gradual decline in crude imports South Korea’s crude oil imports rose for the third consecutive month
Highlights PVC demand seen remaining strong as record-high prices ease Supply to remain constrained amid few expansions Mexico’s Orbia is scoping out potential debottlenecking and expansion opportunities for its polyvinyl chloride segment given expectations of continued robust demand, CEO Sameer Bharadwaj said July 29. Not
Highlights Tight transportation affecting inflows of raw materials, outflows of products Pulp, paper feedstock caustic soda showing supply tightness, higher costs International Paper expects to wrestle with choked supply chains through the rest of 2021 while restocking inventories and working to increase output, executives said
US crude oil inventories for the week ended July 23, excluding the Strategic Petroleum Reserve, decreased by 4.1 million bbl from the previous week, according to data from the US Energy Information Administration. At 435.6 million bbl, US crude oil inventories are 7% below the
Petróleo Brasileiro SA (Petrobras) let contracts to SBM Offshore for the lease and operation of FPSO Almirante Tamandaré for 26.25 years. The contracts follow the signing of the binding letter of intent signed earlier this year (OGJ Online, Feb. 25, 2021). FPSO Almirante Tamandaré will
Hess Corp. has established a 5-year greenhouse has (GHG) emission target to 2025. The company intends to reduce operated Scope 1 and 2 GHG emissions intensity by 44% and methane emissions intensity by 52% from 2017. These targets exceed the 22% carbon intensity reduction by
Neptune Energy today let a subsea inspection contract to Fugro for work on Cygnus gas field in the UK southern North Sea. Fugro will employ survey technology to inspect the subsea infrastructure, including pipelines and structures, and to undertake survey activities in advance of future
US crude oil inventories for the week ended July 16, excluding the Strategic Petroleum Reserve, increased by 2.1 million bbl from the previous week, according to data from the US Energy Information Administration. At 439.7 million bbl, US crude oil inventories are 7% below the
October marks a historic but largely forgotten moment in the history of the oil sector, and something which is unlikely to ever be repeated if forecasts for the demise of the world’s most valuable fossil fuel prove accurate. Fifty years ago, BP – then known