Economics

Quantifying Europe’s steam cracking closures and implications for the polyethylene market

Nigeria's giant oil refinery fails to prevent record gasoline prices

The 650,000-bpd refinery, Africa's largest, became fully operational early this year. It was designed to transform Nigeria into a major exporter of refined products after decades of inadequate refinery capacity.

Iran war chokes petrochemical supply, sends plastic prices soaring

About $20 B–$25 B worth of petrochemical products pass through the Strait annually, underscoring the fact that continued disruptions to this flow would push producers to pass the higher costs on to consumers.

JGSOC appoints International Process Plants to evaluate sale of Batangas petrochemical complex

Iran war deals harder blow to natural gas than oil

Key gas infrastructure - liquefaction plants in particular - is more complex and expensive to build and repair than the oil equivalent. That means oil refineries can often resume operations more quickly than liquefied natural gas export hubs after a shutdown.

BASF’s Intermediates division produces entire portfolio of acid chlorides and chloroformates at its Ludwigshafen site using renewable electricity credits

Middle East shock gives Dangote refinery leverage as cheap imports dry up

China's Sinopec will not buy Iranian oil, wants to tap state reserves

The world's largest refiner usually sources roughly half of its crude oil needs from the Middle East, making it particularly exposed to the near-closure of the Strait of Hormuz amid the U.S.-Israeli war on Iran.

South Korea to review restructuring plan for largest petrochemical complex

Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply

Surging oil prices in physical markets — the trading place for oil on ships, rail cars or in storage tanks — have outpaced the already dizzying increases in benchmark futures markets, as refiners and traders across Asia and Europe are snapping up whatever barrels they can secure to plug the enormous supply gap caused by the U.S.-Israeli war on Iran.