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Bahrain committed to supporting additional oil production cut

February 25/2020

MOSCOW (MRC) -- Bahrain said it is committed to supporting an additional oil production cut of 600,000 bpd as recommended by Opec+s joint technical committee at a meeting in early February, reported Hydrocarbonprocessing.

The proposed voluntary adjustment in production is recommended to counter the expected drop in oil demand, mainly in China, due to corona virus outbreak, Sheikh Mohammed bin Khalifa Alkhalifa, Bahrains oil minister, said in a statement.

As MRC wrote before, in May 2019, tate-run Bahrain Petroleum Co (Bapco) completed multi-billion-dollar financing aimed at expanding its refining capacity to 380,000 barrels per day (bpd) from 267,000 bpd.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, PP random copolymer, propylene, ethylene, petrochemistry, Bahrain, China, Russia.
Category:General News
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