There are certain times of the year that seem to rush by and October is one of those, as evidenced by this installment of The Oil Big Five coming out a bit later than usual. In some ways, this is an indicator of how much there is to do and keep track of, including for the global oil industry.
Posts Tagged ‘Asia’
By Elizabeth Bassett | October 16, 2015 12:01 AM Comments (0)
By Ben Gonzalez | October 15, 2015 06:00 AM Comments (0)
The price of oil certainly has some effect on the petrochemical prices throughout the value chain, but supply/demand fundamentals will always be the biggest driver. It is the unplanned outages that create uncertainty, and that was certainly the case this year.
By Elizabeth Bassett | August 13, 2015 11:46 AM Comments (6)
High summer can often be seen as a slow period, when the heat and prospect of a holiday can make it hard to work up the effort to make news. In the Northern Hemisphere, summer is in full force, and luckily for us, news is also heating up in the world of oil.
By Takeo Kumagai | August 5, 2015 12:01 AM Comments (1)
There is little doubt that additional crude oil supplies from Iran will intensify competition among Middle Eastern producers, which are already fighting to secure their share of Asia’s dynamic markets against the influx of barrels from western hemisphere suppliers that can no longer rely on the US market.
Tehran’s July 14 nuclear deal with six world powers will eventually lead to additional flows of Iranian oil onto world markets, but oil minister Bijan Zanganeh has already said the thrust of the marketing focus will be on Asia, where Iran has been able to maintain a foothold in the four key consuming countries.
By Eshwar Yennigalla and Hetain Mistry | July 14, 2015 12:01 AM Comments (0)
Benzene is a primary aromatic and the precursor for the C6 value chain, and finds itself at crossroads in relation to the aromatics main outlet of supply. Benzene supply is traditionally dependent on gasoline production out of the refinery and as a co-product of naphtha cracking.
However, massive projections for increased polyethylene terephthalate demand in Asia led to a wave of investments in paraxylene production units and resulted in growth of benzene production as a by-product from these units. Also, with major refinery expansions in the Middle East (especially processing heavier crude, which yields more benzene) and Asia, as well as move to lighter cracking for ethylene production in the US and the Middle East, benzene supply dynamics globally have changed. Benzene is no longer just dictated by the traditional means of supply.
By Elizabeth Bassett | July 9, 2015 10:35 AM Comments (4)
The beginning of July is the beginning of the second half of the year, and just over the weekend I was looking at a calendar and marveling that we’d arrived here already. We started this feature a little over a year ago, but especially within the past 12 months, the oil industry seems like it’s been taking us all on a roller-coaster ride. On July 1 of last year, for example, Dated Brent was assessed by Platts at $110.46/b, but on July 1 of 2015 it was assessed at $61.67/b. Today, we’re attempting to pull out some highlights from the most recent part of that wild ride.
By Ross McCracken | July 2, 2015 12:01 AM Comments (3)
By Eklavya Gupte | May 25, 2015 12:01 AM Comments (10)
Nigeria and Angola, both situated on the west side of Africa, are two of biggest producers in the region, but the crudes from these two countries have treaded divergent paths in the past year, despite a lot of similarities.
By Joseph Innace | May 21, 2015 12:01 AM Comments (0)
The world’s next ‘leap second’ event will occur on June 30, 2015 — and, for the first time ever, according to the Futures Industry Association (FIA), it will happen “during active trading hours in an environment where electronic and automated trading relies on sub-second precision for communication, execution, clearing, surveillance and audit trails.”