Asia top stories – weekly summary
ICIS Editorial
20-Mar-2023
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 17 March 2023.
NE Asia June C2 supply to tighten on
limited US arrivals, regional
outages
Northeast Asia’s spot ethylene (C2) supply for
June delivery could tighten due to limited
tonnage for US-Asia trade and a heavy slate of
regional cracker overhauls.
Asia naphtha tumbles on tepid demand;
crude oil losses
Asia naphtha markets are under pressure on the
back of fragile demand, while taking cues from
global crude oil futures.
Mideast-origin PE pipe grade
discussions weighed down by snug
supply
Middle East-origin black polyethylene (PE) 100
pipe grade discussions in Asia and the Middle
East were largely weighed down by generally
snug supply.
Saudi Aramco posts record ’22 profit on
strong oil; sets higher ’23 capex at
$45bn-55bn
Energy giant Saudi Aramco has posted a record
2022 net profit of $161bn on strong oil prices,
and plans to invest heavily in 2023, setting
its capital expenditure at $45bn-55bn.
Asia benzene optimism during peak
turnaround season wanes
BAsia benzene optimism during the peak
maintenance season starting March tumbled, as
new plants started up amid procurement cutbacks
due to margin losses in the derivative sectors.
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