Although the oversupply of purified terephthalic acid (PTA) in Asia has eased recently, with a large number of new capacity coming into use, market participants expect that the market may be surplus again in the near future, and the market will fall into a downturn. China’s PTA oversupply eased in August because of planned maintenance

Saudi Aramco is optimistic about the pace of recovery in Asian crude oil demand, which will help push oil prices higher, said Amin Nasser, chief executive of Saudi Aramco, the world’s largest crude oil producer and exporter. Nasser spoke in a statement after Saudi Aramco released its second quarter results over the weekend. “We are

Ethylene contract settlement prices for most U.S. market participants rose by 1.0 cents / pound in July due to cracking unit problems restraining supply and continued to recover demand, affected by rising spot prices and cash costs. The contract price is the third consecutive increase since it bottomed out in April, when oil prices plummeted

According to novel coronavirus pneumonia cases reported in August 4th, the Arab News reported that the global new crown pneumonia cases were increasing, and OPEC and its allies expected to cut production scale, which caused worries of oversupply. While the positive data of manufacturing in Europe and Asia offset these negative effects, oil prices stabilized.

According to reports, the data released recently by the world bank’s “reducing global natural gas burndown partners” shows that the global natural gas burn off volume has increased to the highest level in more than a decade, reaching 150 billion cubic meters, equivalent to the total annual natural gas consumption in sub Saharan Africa. According

According to a recent report by PwC’s Strategy & Middle East, global demand for green hydrogen will reach about 530 million tons by 2050, replacing about 10.4 billion barrels of oil equivalent (about 37% of global oil production before the outbreak). Meanwhile, the report shows that by 2050, the annual value of green hydrogen export

In northwest Europe and Italy, record consumption of natural gas inventories has exacerbated Gazprom’s sales losses in the region. According to Reuters and refinitiv data, the decline in Gazprom’s gas exports to the region has led to a 4% drop in its gas market share in the first half of 2020, from 38% a year

Despite the grim situation in the United States and other countries, oil prices rose on Monday, supported by tight supply and a series of data expected to show a global economic recovery. Brent crude rose 73 cents, or 1.7%, to $43.53 a barrel at 08:08 GMT. West Texas Intermediate rose 28 cents, or 0.7%, to

It seems that the oil price has completely bid farewell to the epic collapse. At present, this view has been “endorsed” by Saudi Aramco, the world’s largest oil company. On June 30 local time, Amin Nasser, President and CEO of Saudi Aramco, said that the worst period of the oil market had passed, and he

As global LNG demand will continue to increase in the foreseeable future, the supply of “greener LNG” may give producers an edge in this booming market. Total, a French oil and gas giant, and Siemens, Germany’s natural gas and power sectors are currently working together on research, and both companies will benefit greatly at that