MOSCOW (MRC) - Oil and gas explorer Woodside Petroleum has offered the first Vincent crude cargo for export since production from the USD1.9 billion Greater Enfield project off western Australia restarted following more than a year’s suspension, reported Reuters with reference to two trade sources with direct knowledge of the matter.
The cargo was offered to load over Sept. 26-30 in a tender due to be closed on Wednesday, with bids valid till Thursday, the sources said.
Woodside operates the Greater Enfield project with a 60% stake, while Mitsui E&P Australia Pty Ltd, a unit of Japanese trading house Mitsui & Co, holds the remainder.
As MRC informed earlier, Mitsui Chemicals, a part of the Mitsui conglomerate, restarted its naphtha cracker on 11-12 May 2019, following an unplanned outage. The cracker was shut in end-April, 2019 owing to power failure. Located at Chiba in Japan, the cracker has an ethylene capacity of 600,000 mt/year and propylene capacity of 331,000 mt/year.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,255,800 tonnes in the first seven months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the estimated PP consumption in the Russian market was 796,120 tonnes in January-July 2019, up by 11% year on year. Shipments of PP block copolymer and homopolymer PP increased.
Mitsui Chemicals is a leading manufacturer and supplier of value added specialty chemicals, plastics and materials for the automotive, healthcare, packaging, agricultural, building, and semiconductor and electronics markets. Mitsui Chemicals is a Japanese Chemicals company, a part of the Mitsui conglomerate. The company has a turnover of around 15 billion USD and has business interests in Japan, Europe, China, Southeast Asia and the USA. The company mainly deals in performance materials, petro and basic chemicals and functional polymeric materials.
MRC