Sinopec PetroChina LDPE EastChina
Sinopec and PetroChina Increase LDPE Prices in East China
MOSCOW – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, and PetroChina, a subsidiary of the Chinese National Petroleum Corporation (CNPC), announced on July 1 that high-pressure polyethylene (LDPE) prices were rising for China’s eastern region, market sources told ICIS . Sinopec PetroChina LDPE EastChina
So, on July 1, Sinopec increased its LDPE prices on CNY100-200 to CNY8 750 per ton EXW (shipment from the plant), a company source said.
PetroChina, at the same time, separately increased LDPE prices on CNY150 to USD8,600 per ton EXW.
Supplies from major manufacturers are limited, since on June 27 Maoming Petrochemical closed its LDPE production. The same production was closed from 6 to 15 June.
Traders in southern China offered LDPE on spot at a level of CNY8 700-9,000 per ton.
According to Scan Report Company Market Report, in May, the estimated consumption of LDPE in Russia increased to 53.76 thousand tons against 47.62 thousand tons a month earlier. Sinopec PetroChina LDPE EastChina
Kazanorgsintez has increased production volumes after stopping for prevention. In the first five months, the estimated consumption of LDPE in the Russian Federation was 248.91 thousand tons, which is 3% more than in 2018.
The volumes of PVD production on the part of individual producers decreased, and exports also declined. Sinopec PetroChina LDPE EastChina
Sinopec Corp. is one of the world’s largest integrated energy and chemical companies. Business Sinopec Corp. includes oil and gas exploration, extraction and transportation of oil and gas, oil refining, petrochemical production, the production of mineral fertilizers and other chemical products.
In terms of refining capacity, Sinopec Corp. ranks second in the world, in terms of ethylene capacity – fourth.
PetroChina was established in 1999 by allocating CNPC assets. The company is engaged in the exploration, development and production of oil and natural gas, as well as the processing, transportation and distribution of oil and oil products, petrochemical products and the sale of natural gas.
CNPC owns 86% of the company’s shares. The headquarters is located in Beijing, the staff of more than 500 thousand people.
Author: Anna Larionova