Note that, as always, the views expressed here are personal. Thank you. By John Richardson Executive Summary The big Western energy companies – the International Oil Companies (IOCs) – are selling hydrocarbon assets as they strive to meet more aggressive emissions targets, some of which have been set by environmental activists. The assets are being […]
Asian Chemical Connections
Benefits, Risks Of Petronas/Aramco Deals Serving As Template
By John Richardson THE PETRONAS and Saudi Aramco joint ventures in the RAPID refining-to-petrochemicals project in Malaysia may serve as a template for further “win/win deals”. Whilst these deals will substantially benefit the companies and countries involved, there are broader risks that I’ll discuss at the end of this blog post. Back in February, Aramco […]
Global Polypropylene In 2018-2025: What To Plan For
By John Richardson THIS could be an excellent investment opportunity. Our ICIS Supply and Demand Database base case for Asian and global polypropylene (PP) operating rates sees the steady and steep climb that began in 2014 carrying on until a peak in 2020. In that year, global operating rates will reach 94% and Asian capacity […]
The Petronas Decision And Singapore
By John Richardson THE blog continues to ponder the significance of the Petronas announcement that it is to go ahead with its $27bn refinery-petrochemicals project – the Pengerang Integrated Complex (PIC) at Johor in Malaysia. “It means that Singapore faces a competitor with deep pockets. Time to assess the winners and losers on Singapore’s Jurong […]
The Petronas Decision: What It Means
By John Richardson LAST week’s decision by Petronas to go ahead with its $27bn refinery and petrochemicals complex at Pengerang in Johor, Malaysia, tells us that: Nation building remains important in the petrochemicals business. This project will create huge further economic value for Malaysia through all the construction and operating jobs created and the revenues […]
Petchems And The Non-Profit Motive
By John Richardson AS the US contemplates raising its ethylene capacity by up to 29 percent by 2017, we would be fascinated to know whether the companies involved in these proposed expansions, and the “cheer leader” chemical industry observers spurring them on, have ever considered a chart such as the one below: First […]
Methanol stays strong, but for how long?
By Malini Hariharan The doom and gloom affecting many segments of the petrochemical industry has yet to reach methanol. Asian spot prices have been stable since January and have hovered in the $340-350/tonne range during the last three months. Methanol traditionally tracks crude oil prices but the product has been unaffected by the recent slide […]
Chemical Shares Fall From “Buzz Mountain” Summit
By John Richardson CHEMICAL share prices have surged to the top of what one industry observer calls “buzz mountain” during the last six months. The buzz has been centred on the supercycle theory which holds that recent corrections in commodity prices are nothing more than a temporary blip. Formosa Plastics Corp (FPC) and Formosa Chemicals […]
Petronas set to unveil new refinery and petchem venture
By Malini Hariharan Malaysia’s Petronas is expected to soon announce plans for a new refinery and petrochemical complex Pengerang, Johor, a project that the blog had discussed a few months back. A report in the Malaysian newspaper Star says the project, named Rapid or Refinery and Petrochemical Integrated Development, would involve an investment of close […]
Consolidation Thai style
By Malini Hariharan The long-awaited merger between PTT Chem and PTT Aromatics (PTTAR) was finally announced last week. A presentation made to financial analysts gave details on what the merged entity will look like, planned synergies and opportunities for growth. The new company with a total petrochemical capacity of 8.261m tonnes/year and petroleum products capacity […]
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