Asia’s LPG demand in 2021 will again be led by China, driven by additional processing capacity at three new PDH plants and recovering post-COVID economic growth, while South Korean domestic sales are set to sustain this year’s uptrend to meet petrochemical requirements for medical goods production.
In a year in which our lives were turned upside down, BIRN’s journalists in Central and Southeastern Europe have produced more than 1,500 articles, including 1,100 ‘premium’ stories and more than 60 in-depth investigations.
The carbon credit trading price jumped more than 50 percent this year alone and companies emitting more carbon, such as steelmakers, cement manufacturers, oil refining companies and petrochemical companies, are getting increasingly tense.
Korean oil refiners will reduce their facility investment by more than 30 percent in 2021 versus 2020.
The U.S. said it will ban all shipments of palm oil from one of the world’s biggest producers after finding indicators of forced labor and other abuses on plantations that feed into the supply chains of some of America’s most famous food and cosmetic companies.
The Asian gasoline market is facing a fragile 2021, plagued by issues on the demand side carried over from 2020 while grappling with a wave of fresh supply from new outlets in the region while more refinery closures loom on the horizon.
American benchmark West Texas Intermediate (WTI) was at $48.41 per barrel at the same time for a 0.02% increase after it ended the previous session at $48.40 a barrel.
Global oil demand will likely take another year or so to return to pre-pandemic levels — by late 2021 or early 2022.
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Global commodities trader Trafigura has completed the purchase via a wholly-owned subsidiary of a 10% stake in Rosneft’s Vostok Oil project in the Arctic, the company said on Tuesday.