According to a recent report released by the New Energy Finance (bnef) of Bloomberg, the global refining capacity will continue to expand despite the demand and price shocks caused by covid-19. By 2025, the world’s new investment in downstream refining and integrated chemical capacity will reach an average of US $55 billion per year, which

Recently, Shanghai oil and gas trading center issued the international LNG trading business rules to the main participants of domestic and foreign LNG markets. The international LNG trading business of Shanghai oil and gas trading center has been put into trial operation on August 28. While complying with the relevant domestic management regulations, Shanghai oil

Although the oversupply of purified terephthalic acid (PTA) in Asia has eased recently, with a large number of new capacity coming into use, market participants expect that the market may be surplus again in the near future, and the market will fall into a downturn. China’s PTA oversupply eased in August because of planned maintenance

Recently, IHS Markit analysts said that global PVC prices continued to rebound from May lows, supported by planned and unplanned suspension of ethylene industry chain and rising trend of ethylene price. They expect the global PVC market prices to remain firm in August due to the tightening regional supply and demand balance. According to IHS

According to the icis-mrc price report, due to the weakening ruble and rising prices in Asia and Europe, Russian PVC producers plan to further raise their prices in August. Negotiations on the supply of suspended polyvinyl chloride (SPVC) to the domestic market in August began on Wednesday, with plans to raise prices by 1500-2000 rubles

Novel coronavirus pneumonia continues to be affected by the continuing demand for key petrochemical products in Asia. In the second half of this year, the prospect of Asian petrochemical market is dim. Although China’s economy grew by 3.2% year-on-year in the second quarter, reversing the 6.8% decline in the previous quarter, the average decline in

Recently, market participants said that because a large number of new capacity will be put into use in the second half of the year, the situation of excess supply of PX in Asia may continue in the short term. Since the beginning of July, the premium spread between August and September PX has been about

Credit Suisse analysts said novel coronavirus pneumonia epidemic is the main driving force for the transformation of European chemicals from general chemicals to specialty chemicals. At present, most European chemical enterprises continue to push forward to downstream industries to resist the decline in profitability caused by large-scale production of basic chemicals. At the same time,

As the epidemic continues to spread, gasoline demand in parts of the United States appears to be weakening. The States most affected by the surge are also some of the largest oil consumers, with tens of millions of drivers. Gasoline consumption continued to rise slightly in most parts of the United States. In the week

In a new report, DNV GL, a Norwegian energy consultancy, said global energy demand is likely to peak in 2019 and carbon dioxide emissions may also peak. World energy demand will actually decline over the next 30 years and will be at the level of 2018 by 2050, the consultancy said. The authors of the