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Mitsui hires two crude, condensate traders in Singapore

October 26/2020

MOSCOW (MRC) -- Mitsui Energy Trading Singapore, a unit of Japanese trading house Mitsui & Co , has hired two traders to trade crude oil and condensate, reported Reuters with reference to two sources with knowledge of the matter.

Wei Xiyu, previously a crude oil trader and charterer at Petrowin Resources, will join the company in November, according to the sources and Weis LinkedIn profile.

Andy Ang, formerly a crude trader with Hengyi Industries International Pte responsible for sourcing feedstock for Hengyis Brunei refinery, will join Mitsui in January next year, the sources said.

Mitsui declined to comment on the companys personnel changes, a spokesman said.

Ang declined to comment. Wei did not immediately respond to a request for comment.

As MRC informed previously,  Mitsui Chemicals has operated its naphtha cracker normally following a maintenance turnaround. The company resumed operations at the cracker on July 19, 2020. The cracker was shut for maintenance on June 11, 2020. Located in Osaka, Japan, the cracker has an ethylene capacity of 500,000 mt/year and a propylene capacity of 280,000 mt/year.

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,496,500 tonnes in the first eight months of 2020, up by 5% year on year. Shipments of all ethylene polymers increased, except for linear low desnity polyethylene (LLDPE). At the same time, PP shipments to the Russian market reached 767,2900 tonnes in the eight months of 2020 (calculated using the formula - production minus exports plus imports - and not counting producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.

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.


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