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1. Saudi Polymers to permanently shut down PS complex
MOSCOW (MRC) --
National Petrochemical Co. (Petrochem) said that the board of directors of its
subsidiary, Saudi Polymers Co., decided to shut down the polystyrene unit and
amortize its value, due to difficulties in achieving profits amid the global
polystyrene market conditions, said Argaam. The company expected this process to
have an impact of up to SAR 277 million on its financial statements for Q2
2020.
http://www.mrcplast.com/news-news_open-372704.html
2.
JXTG gasoline cargo purchase from Singapore signals demand recovery:
sources
MOSCOW (MRC) -- Gasoline demand in Japan is showing signs of
recovery following the lifting of the state of emergency, prompting the
country"s largest refiner, JXTG Nippon Oil & Energy, to snap up at least one
MR-sized gasoline cargo from Singapore, believed to be the first purchase from
overseas in months, reported S&P Global. JXTG bought one gasoline cargo
loading in June in Singapore, a source familiar with the matter said June 17,
without giving further details. A spokeswoman for JXTG Nippon Oil & Energy
on June 17 declined to comment on specifics of its product deals.
http://www.mrcplast.com/news-news_open-372204.html
3.
Chevron-led Kazakh consortium fulfilling OPEC+ cuts for May-June
MOSCOW
(MRC) -- The Chevron-led consortium that operates Kazakhstan"s largest oil
field, Tengiz, is imposing production cuts in line with government legislation
covering May-June and is not yet aware of additional restrictions for July,
reported S&P Global with referenceto its statement June 19. In production
since 1993, Tengiz is the mainstay of Kazakhstan"s crude production and the CPC
export blend loaded on the Black Sea coast. It accounts for 40% of Kazakh oil
production, with output of 667,000 b/d in the first quarter. A major coronavirus
outbreak at the site by the Caspian Sea has disrupted a USD46.5-billion
expansion project expected to lift output to 900,000 b/d in 2023.
http://www.mrcplast.com/news-news_open-372342.html
4.
Crude oil futures steady after overnight rally as demand uncertainty
remains
MOSCOW (MRC) -- Crude oil futures were steady to marginally lower
in mid-morning trade in Asia June 23 following an overnight rally, as demand
uncertainty continues amid concerns of a second wave of COVID-19 infections,
reported S&P Global. At 10:35 am Singapore time (0235 GMT), ICE Brent August
crude futures slipped 1 cent/b (0.02%) from the June 22 settle at USD43.07/b,
while the new front-month NYMEX August light sweet crude contract was 4 cents/b
(0.1%) lower at USD40.69/b.
http://www.mrcplast.com/news-news_open-372435.html
5.
Pakistan oil companies to import more oil product in July-August
MOSCOW
(MRC) -- Pakistan"s oil marketing companies are likely to import more spot
barrels of motor fuels soon as the recovery in domestic demand amid low refinery
run rates threatens to draw down the country"s already limited supplies, traders
said, said S&P Global. This expectation was sparked by concerns of a supply
crunch after the country"s Oil and Gas Regulatory Authority in mid-June imposed
a cumulative fine of around Pakistan rupees 40 million (USD240,000) on six major
oil marketing companies for holding insufficient motor fuel inventories, OGRA"s
official reports revealed. Shell Pakistan, Total Parco Pakistan Limited, Puma
Energy, Gas and Oil Pakistan, Attock Petroleum and Hascol Petroleum were the six
slapped with fines, according to the reports. However, they could not be
immediately reached for comment on the matter.
http://www.mrcplast.com/news-news_open-372764.html
6.
Honeywell to create 450 jobs in UK as it ramps up production of
PPE
MOSCOW (MRC) -- Honeywell is to build a new production line capable
of producing up to 4.5 million FFP2 and FFP3 disposable face masks per month at
its Newhouse site in Scotland, United Kingdom, said Britishplastics. These masks
will assist the UK Government�s response to the coronavirus (COVID-19) outbreak
and the new production line is expected to create approximately 450 jobs at the
site. The UK Government has ordered 70 million of the locally produced Honeywell
SuperOne face masks, with production expected to start as early as July 2020.
"As a global leader of high quality personal protective equipment, Honeywell is
committed to getting safety gear to those who need it most, including workers on
the front line of the fight against COVID-19,� said Will Lange, president of
Honeywell�s personal protective equipment business.
http://www.mrcplast.com/news-news_open-370914.html |
