20 March 2013 21:32 [Source: ICIS news]
Worries have begun to surface about
Meanwhile, demand for chemicals such as polyethylene (PE) has fallen after the Lunar New Year holiday, a rarity in recent years.
The ExxonMobil Chemical executive pointed to a statistic showing that two-thirds of petrochemical demand growth through 2020 is expected to come from the Asia-Pacific region, which is a big reason why the company is expanding capacity at its
A new cracker being set up there is part of the energy giant’s second petrochemical project in the city-state, which will add 2.6m tonnes/year of new finished product capacity.
But ExxonMobil is not China-centred or Asia-centred, Pryor said, adding that in an increasingly global petrochemical market, companies have to take a long-term, worldwide view.
“This is a global business,” Pryor said. “Trade is going to be increasingly interconnected.”
The IHS World Petrochemical Conference continues through Thursday.
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