London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Polyolefin inventories rise to 1,28 mln tonnes in 3rd week of March

March 24/2020

MOSCOW (MRC) -- The total inventories of polypropylene (PP) and polyethylene (PE) at China's Sinopec and PetroChina's (part of CNPC) warehouses were heard at 1.28 million mt last week, reported S&P Global.

This figure is higher than the typical level of 1 million mt.

As MRC informed before, in the 3rd week of February 2020, Asia's largest oil and gas firm PetroChina resumed construction of its oil refinery and petrochemical project in southern Chinese province of Guangdong, as the number of new coronavirus cases fell for a second straight day. With workers and machineries gradually in place, the USD10 billion refinery project in Jieyang city fully restarted construction by end-February. The project is scheduled to be fully completed by June 2022, with the launch of an oil refining section by end-2021 and chemical section in March 2022.

We also remind that Sinopec Qilu Petrochemical, subsidiary of Sinopec, plans to shut the cracker  unit in Tianjin in northeast China for scheduled repairs on 15 June, 2020. This cracking unit with a capacity of 900,000 tonnes of ethylene per year and 480,000 tonnes of propylene tons per year will be closed for scheduled repairs until 24 June, 2020.

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 215,390 tonnes in the first month of 2020, up by 23% year on year. Shipments of all grades of high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) increased due to higher capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 127,240 tonnes in January 2020, up by 33% year on year. ZapSibNeftekhim's homopolymer PP accounted for the main increase in shipments.

Sinopec corp. is one of the world's largest integrated energy and chemical companies. Business Sinopec Corp. includes oil and gas exploration, production and transportation of oil and gas, oil refining, petrochemical production, production of mineral fertilizers and other chemical products. In terms of refining capacity, Sinopec Corp. ranks second in the world, in terms of ethylene capacity - fourth.

PetroChina Company Limited, is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation, headquartered in Dongcheng District, Beijing. It is China's biggest oil producer.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, LLDPE, homopolymer PP, propylene, HDPE, ethylene, PetroChina, Sinopec, China, Russia.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe