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PetroChina’s target: 50 million mt of output in 2020

Recently, CNOOC, Sinopec and PetroChina successively delivered their financial reports for H1 2015. Affected by crude price drop and domestic demand slowdown, the three energy giants in China witnessed sliding revenues, especially PetroChina， of which net profit dropped by 60%.

09-10-2015 09:21:10

Slack trend of oil blending squeezed profit margin of deep-processing plants

This week, profit margin of deep-processing plants, though climbed, averaged lower than last week. According to JYD, the gross profit of alkylation unit averaged at CNY313/mt, down by 32.5% from last week.

06-19-2015 17:47:05

Energy layout changes with speed-up in cross-regional expansion

The supply and demand pattern of global energy industry has been deeply influenced since the revolution of shale gas and oil in U.S. According to a latest energy report from BP, U.S. has replaced Russia as the biggest oil and gas producer in the world.

06-19-2015 17:46:24

Iso-butane: a new force of sudden rise

Fluctuation of crude price in May pushed down gas price. Iso-butane price showed a reversed “V” shape, standing around CNY4,800-5,500/mt. Confronted with the overall frustrated performance of fuel gas market, the strong trend of iso-butane acted as a hope for market players.

06-12-2015 11:52:46

Sinopec opened up saturated LPG supply to Wuhan Ethylene

On June 1st, a full-load cargo “Changmao 1” of 500 mt of saturated LPG left the quay of Jiujiang Petrochemical, indicating the first successful waterway delivery of LPG of Jiujiang Petrochemical.

06-12-2015 11:50:49

Northeast China LPG price will remain fluctuating in June

The traditional slack season of LPG market approach in June and July. Despite versatile market dynamics, LPG price trend in Northeast China will be modest.

06-04-2015 17:29:49

Residential gas demand in Shandong will slightly shrink in June

With temperature rising steadily, residential gas producers increasingly estimate that price will hit the bottom. Therefore, quite a lot of gas stations might wait for this bottom price. However, residential gas price would not fall to the bottom price in Shandong this year.

05-28-2015 09:16:22

2015 May China LPG supply increased on-month

Liaohe Petrochemical was the only major refinery recovered normal output in the end of May, leaving no substantial growth to the gross supply. According to JYD, LPG output from major refineries in May reached 1.25 million mt, up by 2.55% from April.

05-28-2015 09:15:27

Alkylation boom turns residential gas into a sweet pastry

Since 2015, with the gradually commission of alkylation units including iso-butane dehydrogenation and n-butane isomerization, alkane components contained in residential gas have been utilized to a much deeper degree.

05-22-2015 15:35:56

Shandong iso-butane dehydrogenation and n-butane isomerization production boomed

Since 2014, major refineries in Shandong have planned to build iso-butane dehydrogenation units. However, the commissioning was postponed again and again due to complex technology. While recently, such units are like mushrooms after rain, being put on agenda by producers.

05-22-2015 15:34:36

Propane market will saw a plight in the coming slack season

For current LPG market, propane, n-butane, and mixed gas of butane showed different trends. Consecutive slackness of residential gas market forced mixed gas of butane to turn to industrial users.

05-14-2015 10:43:26

Gasoline price pushed up LPG price limit to CNY6,537/mt

On May 11th, National Development and Reform Commission released a notice of raising the price of gasoline and diesel by CNY255/mt and CNY245/mt.

05-14-2015 10:42:52

Yamal LPG project is to be launched in 2017

China has been said to participate in the fundraising of a LPG project in Russia. Chinese bank will invest $1.35 million to the construction of a LPG plant in Yamal peninsula. Whether India Oil and Natural Gas Corporation will purchase 9% of shares of Yamal LPG project is still unknown.

05-07-2015 10:18:50

Guangzhou Petrochemical cancelled preferential policy to contractors

It is said that Sinopec Guangzhou Branch (Guangzhou Petrochemical) will formally cancel its preferential policy to its LPG contractors and carry out the same listing price and closing price in order to build up a transparent price system.

05-07-2015 10:17:36

Divergence between residential and feed gas prices

On April 21st, WTI fell by $1.12/bbl to $55.26/bbl, leaving a sharp drop in international crude futures price.

04-24-2015 14:12:42

Low-priced LPG shot down Asia LPG price

According to a recent public report from Energy Economy Institution, Asia LPG price has been shot down from $800/mt in the first half of 2014 to the current level, which is below $500/mt.

04-24-2015 14:12:15

Deep-processing run rate in Shandong fluctuated triggered by mixed factors

Stepping into April, the run rate of deep-processing plants in Shandong has been fluctuating within a small range.

04-15-2015 10:20:54

Tenlong Aromatics PX explosion might delay LPG sales

At 18:56 am, April 6th, the MX unit of Tenglong Aromatics was on fire due to oil leakage, which triggered an explosion of three tanks in the middle tank field around the unit.

04-09-2015 11:17:56

Expected jump of LPG supply will leave East China importance for import

After a slump of crude price in 2014, prices of energy products have not recovered into previous level.

04-08-2015 16:58:27

Shipping cargoes of feed gas in Shandong sharply increased in March

The shipping cargoes of feed gas arrived in Shandong increased sharply in March on month. According to JYD, the total inbound feed gas arrived in Shandong reached 24,100 mt (imported gas and cargoes from Taiwan Chain excluded.), up by 36.54%.

04-02-2015 17:38:35

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