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Global Chemicals Quick Review
Canada: Energy sector declines petrochemical industry gets a new lease of life
The collapse of crude oil prices has hit the energy sector in places like Alberta, Canada, but it has also brought opportunities
for the petrochemical industry.
The sharp drop in energy and raw material prices, the abundant supply of raw materials, and the Canadian government's incentives for the petrochemical industry are stimulating investment
in the Canadian petrochemical industry.
Several companies have announced investments in the Canadian petrochemical industry
.
In April 2016, Pembina and Kuwait Petrochemical Industries (PIC) announced that they were considering new propane dehydrogenation (PDH) and polypropylene (PP) production units
in Alberta.
Among them, the PP plant has a design capacity of up to 800,000 tons
.
The companies plan to complete a feasibility study this year, and if the project progresses to the front-end engineering and design stages, the two companies will make a final investment decision by mid-2017, and it will be completed and commissioned in 2020
.
The global sulfur chemical industry broke the calm and set off a wave of mergers and acquisitions
Analysts say the global sulfur chemical industry, which has been very calm, is setting off a round of mergers and acquisitions, and may attract more companies to join
.
Kemu announced in June that it would sell its sulphur products business to Veolia of France for approximately $325 million, a deal expected to close
in the second half of this year.
After integration with the Veolia business, the former Chemours Sulphur Products business will have a positive complementary effect on Veolia's existing business, strengthening its recycling capabilities and technologies
.
The acquisition has diversified Veolia's business and allowed it to extend further up the value chain to provide solutions
to more industrial customers.
On August 2, INEOS has agreed to acquire Calabrian Group, a North American sulfur dioxide and sodium derivatives company, from private equity firm SK Capital Partners, with financial details not yet disclosed
.
For INEOS, the business will complement the company's existing sulfur chemicals business
.
New refineries will exacerbate the global refined products market's oversupply woes
ESAI Energy said new refineries in Middle Eastern countries would put the global fuel market in a difficult position
.
The company noted that growing gasoline, diesel and jet fuel production in Iran, Iraq, Kuwait, Saudi Arabia and the UAE over the next five years will change the trade patterns of
the global fuel market.
ESAI said it would force large fuel exporters in the U.
S.
and Asia to find new customers, while curbing global refining margins
.
In 2016, new refineries will bring 550,000 b/d of new supply of refined oil products to the market, far exceeding the expected increase in fuel demand, and this trend will continue
during 2017~2021.
The world is expected to supply
355,000 b/d of refined oil annually over the next five years.
India's LAB imports will continue to grow in the coming years
Market sources said that with the rapid economic growth of India, the world's second most populous country in recent years, people's consumption levels are increasing, the demand for cleaning products is increasing, and the demand for linear alkyl benzene (LAB) for detergent and laundry detergent production is growing strongly, but at the same time, due to factors such as oversupply in Asia and low prices of imported products, there is no sign that India will expand domestic LAB capacity
.
Market analysts estimate that the current gap between the supply and demand of LAB in India is 90,000~150,000 tons, which needs to rely on imports, and the import volume is close to 5%
of the global 3.
3 million tons of LAB production.
In addition, India's LAB imports are expected to continue to grow
as demand grows and domestic production capacity stagnates.
