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1. Covid-19 compounds European refiners’ challenges
MOSCOW (MRC) --
The demand impact from widespread lockdowns causes an immediate demand headache.
But longer-term structural obstacles remain, said Hydrocarbonprocessing. “The
prospects for European gasoline look particularly grim at the moment.” So says
Chris Judge, vice-president, crude and oil products at price reporting agency
Argus Media and an analyst of European refined products markets for well over 20
years. Or, rather said. As, to put into context the scale of both the short and
longer-term challenges facing the European refining sector, Judge uttered these
words in late February, before the extent of the impact of the Covid-19 pandemic
on European and global products demand was clear.
http://www.mrcplast.com/news-news_open-368779.html
2.
Australian Caltex to extend planned shutdown for oil refinery amid
pandemic
MOSCOW (MRC) -- Takeover target Caltex Australia Ltd said it
would bring forward and extend the planned shutdown of its sole oil refinery
Lytton refinery to ward off the expected hit to refining amid the pressures on
demand from the coronavirus pandemic, reported Reuters. The company said that
operations at the refinery will restart once margin conditions recover.
http://www.mrcplast.com/news-news_open-368778.html
3.
Vietnamese Dung Quat oil refinery cuts output on virus-hit demand
MOSCOW
(MRC) -- Vietnam’s Dung Quat oil refinery plans to cut output because of weaker
domestic fuel demand caused by the coronavirus oubreak, the facility’s operator
said Reuters. Domestic demand for refined fuels has fallen 30% to 40% since
February, Binh Son Refining and Petrochemical said in a news release on its
website, without saying how much refining production it has cut, adding that it
may have to cease production if demand continues to decline.
http://www.mrcplast.com/news-news_open-368734.html
4.
Nova Chemicals suspends construction activities on Ontario and Alberta
projects
MOSCOW (MRC) -- Nova Chemicals Corp. is making substantial
reductions in its construction activities in the wake of the COVID-19 pandemic,
reported Kemicalinfo. "We are adjusting construction work on our new AST2
polyethylene facility and Corunna cracker expansion projects in Ontario to
temporarily focus on only the most critical work, which will result in a
reduction of approximately 90% of our total construction workforce," Nova
Chemicals CEO Todd Karran said. Karran said that the company’s commissioning and
construction activities have been suspended on its furnace refurbishment project
in Alberta.
http://www.mrcplast.com/news-news_open-368846.html
5.
Refinery in Pakistan to close in a week unless demand rises
MOSCOW (MRC)
-- Pakistan’s Attock Refinery is operating its 54,000 barrels per day (bpd)
plant at 29% capacity and is prepared to shut the complex in a week’s time if
local demand does not recover, reported Reuters with reference to the company’s
top official. If it closes, it would be the third Pakistani refinery to halt
operations because of the collapse in demand as the country implements a
lockdown to try to limit the spread of the novel coronavirus.
http://www.mrcplast.com/news-news_open-368572.html |
