Petrochemicals Enzymes Plastics News 01-06-2020

Petrochemicals Enzymes Plastics News

Petrochemical Polymers Chemical Paraxylene Trend

Petrochemicals Enzymes Plastics News

Crude Oil Prices Trend

Crude Oil Prices Trend

-Saudi Arabia to cut June’s oil production

The state-run Saudi Press Agency official quoted a Ministry official as saying that the reduction will be a voluntary amount of 1 million bpd, in addition to the reduction committed by the kingdom in the latest OPEC+ agreement reached on April 12

Riyadh: Saudi Arabia’s Energy Ministry has directed the national oil company Aramco to further reduce crude oil production for June by an additional 1 million barrels per day (bpd), state media reported.  Petrochemicals Enzymes Plastics News

The state-run Saudi Press Agency official quoted a Ministry official as saying that the reduction will be a voluntary amount of 1 million bpd, in addition to the reduction committed by the kingdom in the latest OPEC+ agreement reached on April 12, reports Xinhua news.

Petrochemicals Enzymes Plastics News

-Chemicals squeezed between feedstock price hikes and downstream malaise

The current run up in oil prices has raised the price of petrochemical feedstocks, but the hikes may not be pushed through effectively to downstream chemicals and polymers as so much demand remains depressed by lockdowns.

This leaves the chemical industry potentially squeezed in the middle, with more downwards pressure on margins for many markets, especially those exposed to automotive and durable goods. Petrochemicals Enzymes Plastics News

Even polymers for packaging, which boomed during the panic buying of March-May, are likely to return to more normal demand patterns.

Petrochemicals Enzymes Plastics News

-Conair launches new TrueRate intelligent inventory tracking system

Conair has launched a new TrueRate intelligent inventory tracking system.

The system automatically tracks changes in the inventories of up to 500 different user-specified resins or flowable powders in a processing plant.

Developed as an alternative to the use of single-component batch blenders for resin inventory measurement, the new TrueRate system utilises highly accurate gravimetric measurement.  Petrochemicals Enzymes Plastics News

The TrueRate system is available in two sizes, consisting of an 8-inch weighing ring equipped with two load cells, or a 12-inch ring equipped with three.

Both configurations connect to a separate electrical control panel containing a PLC. The weighing ring is mounted below a material loader or receiver but above a container or bin, where it uses resin information provided by the user to precisely calculate the change in weight of the loader/receiver before it discharges the material through the ring and into the container.

https://www.saudigazette.com.sa/article/593671/BUSINESS/GCC-chemical-imports-into-India-may-be-severely-hurt-by-anti-dumping-investigation-warns-GPCA

-GCC chemical imports into India may be severely hurt by anti-dumping investigation, warns GPCA

GCC ethylene glycol (EG) imports into India may be severely hurt as a result of an ongoing anti-dumping investigation targeting imports from Saudi Arabia, Kuwait, Oman, UAE and Singapore, according to the Gulf Petrochemicals and Chemicals Association (GPCA), the regional trade body representing the common interests of the chemical and allied industries in the Arabian Gulf.  Petrochemicals Enzymes Plastics News

The inconsistent investigative practices by Indian authorities on anti-dumping regulations raise serious concerns under World Trade Organization (WTO) rules and threaten to severely hurt GCC economies, jeopardizing $543 million worth of mono ethylene glycol (MEG) imports, which is equivalent to 20% of total chemical imports from the region into India, according to GPCA analysis. India is the second largest importer of GCC chemicals and accounts for over a third of total GCC export volume together with China.

https://www.saudigazette.com.sa/article/593671/BUSINESS/GCC-chemical-imports-into-India-may-be-severely-hurt-by-anti-dumping-investigation-warns-GPCA

-Oman starts its first utility-scale solar power plant

Petroleum Development Oman has begun operations of the sultanate’s first utility-scale solar power plant, which will free up 95.5 MMcm of natural gas for export annually at a time where the country’s oil revenue is dwindling due to the OPEC+ cuts and plummeting prices.  Petrochemicals Enzymes Plastics News

Register Now The $94 million Amin photovoltaic power plant in the south covers an area of 4 sq. km and can produce up to 100 MW of electricity from sunlight through solar panels. The generated energy will be sufficient to power 15,000 homes and could result in an annual CO2 emission reduction of more than 225,000 tons, which is the equivalent to taking 23,000 cars off the road, PDO said Sunday in a statement. The majority of electricity generation in Oman is via crude oil- (65%) and natural gas- (35%) fired power plants.

Oman starts its first utility-scale solar power plant

-ACN market in upward tendency

It was unexpected that ACN was in an upward trend recently. Actually, since last Friday, the procurement has begun to be difficult, showing the supply shortage in the market. This week, high market offers reached 8,000yuan/mt or even above. Though trading price may not hit this level, the strong bullish market sentiment makes market players believe that the trading price is likely to touch 8,000yuan/mt.  Petrochemicals Enzymes Plastics News

From the perspective of this upward tendency, the similar market condition has existed in July-August of last year for once. Based on above chart, the rise in ACN price had three requirements: 1. ACN operating rate falls back. 2. Acrylic fiber run rate picks up apparently. 3. ABS operating rate continuously stays at a high level. Operating rate fluctuated in May this year, and the overall increment in July-August of last year was around 11%. By May 27, the increase of April-May of 2020 was 21.6%.

ACN market in upward tendency

-Asia-Pacific propylene prices fall from 11-week high

Asia-Pacific propylene prices have started to fall this week after hitting an 11-week high of $760-805/t cfr northeast Asia in late May on a rise in spot supplies.

Spot deals were concluded at $730/t cfr China for late-June arrival cargoes earlier this week, down from $790-805/t cfr China a week ago. Offers were cut to $740-750/t cfr China today from last week’s level of $800-820/t cfr China.

Supplies have increased despite ongoing cracker turnarounds. And rare supplies of US-origin cargoes have emerged in the market. Petrochemicals Enzymes Plastics News

Asia-Pacific propylene prices fall from 11-week high

-Enzymes are Proteins: A Definitive Guide of 4000+ Words

Enzymes are Proteins – The Guide Encompasses Introduction, History, Structure, Active Site, Enzyme Action, Functions, Models, Factors, Inhibitors, Classification, Nomenclature

Enzymes are Proteins

Enzymes are proteins that speed up the reactions by acting as catalysts. They increase the rate of reaction without being consumed or permanently altered by themselves. In Greek enzymes are divided into sections “En” which means “in” and second part is “zyme” means living. The study of enzymes is known as enzymology. (Enzyme Definition)

Introduction to Enzymes

Physical nature of life is based on the making and breaking of different composed at all levels involved in the metabolism. Thousands of compounds must be shaped to produce the organelles and other structures present in living organisms.

The formation may involve the making of large molecules from smaller molecules or vice versa, moreover all these reactions should take place at moderate temperature and with a speed good enough to support life. Petrochemicals Enzymes Plastics News

It is a common laboratory observation that reactions taking place within a cell if accomplished outside the cell needs very high temperature and there is no control on the speed of the reaction. Why the same reactions need different environments to accomplish when taking place inside the cell. What is the missing connection between living and non-living environment? Initially people thought that it is because of the life itself. A living thing can do what cannot be done by the non-living conditions.

Enzymes are Proteins: A Definitive Guide of 4000+ Words

-EERA reaction “Draft Delegated Act recent changes Basel Convention”

EERA wishes to react to the “Informal consultation on a draft delegated act to implement recent changes to the Basel Convention”. Petrochemicals Enzymes Plastics News

The Norwegian proposals that have been culminated in a decision of the Basel Convention of May 2019 to include certain plastics waste under the control mechanism of the Convention were primarily made with the objective to reduce marine litter.

EERA fears that the proposed Delegated Act might result in WEEE plastics to become classified as hazardous under the code A3210, at least in some EU countries, as these WEEE plastics are a mixture of plastics contaminated with some restricted substances, such as some POP substances. Some (but certainly not all) brominated flame retardants, for instance, are restricted as POP and they have been used as additives in plastics used in electronic products.

EERA reaction “Draft Delegated Act recent changes Basel Convention”

Petrochemicals Enzymes Plastics News

Petrochemicals Enzymes Aromatics News 30-05-2020

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