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Puede cancelar su suscripción a estas actualizaciones en cualquier momento. Argus gestiona la información personal de acuerdo con nuestra Política de privacidad.The Philippines' sole cracker operator JG Summit has delayed the restart of its Batangas cracker by another week because of technical glitches.
The cracker was shut on 9 May on technical issues and was scheduled to restart over the weekend of 10 May, but this has been delayed again to the weekend of 17 May because of other technical glitches, according to sources close to the company.
JG Summit's cracker has a nameplate capacity of 480,000 t/yr of ethylene and 240,000 t/yr of propylene.
London, 2 September (Argus) — European naphtha demand from the petrochemical sector is unlikely to rebound sharply despite improved Rhine logistics, as an oversupplied ethylene market continues to weigh on steam cracker operating rates. European cracker utilisation fell to 65-70pc in August, according to petrochemical market participants, as weak demand across the olefins chain reduced incentives to raise rates. August is typically slower because plastics converters shut units seasonally, but participants described this year's demand as particularly weak. Lower cracker runs have done little to tighten ethylene balances. The European market remains long despite logistical disruptions along the Rhine that limited feedstock deliveries to some inland crackers , as crackers were also unable to deliver finished products out, participants said. Coastal crackers, which have more LPG flexibility, were less affected compared with inland plants along the Rhine that run higher naphtha configurations. LPG margins are more attractive , while ethane-fed producers still benefit from lower feedstock costs, participants said. Ethylene demand strengthened earlier this year on expectations that disruption to Middle East olefin exports could tighten global supply, but those concerns have faded. Trade flows adjusted and supply remained available , participants said. Some seasonal improvement is expected in September as converters return from summer shutdowns, but there is little sign of a broader rebound in consumption. Quarter-end inventory targets could also discourage restocking later this month, participants said. A rise in Rhine water levels over the past two weeks has eased constraints on naphtha barge movements to inland European markets. But the respite may prove short-lived, with water levels forecast to fall again in the coming days. Water levels at the Kaub chokepoint on the Rhine breached 70cm over the weekend, but are set to fall back to 40cm by the end of the week. Naphtha cracking margins have stabilised from early-summer lows of around a $19-12/t discount to North Sea dated to about a $4/t discount, but remain weaker than for alternative feedstocks. Support for naphtha has instead come from the gasoline sector . Strong blending economics drew down blending-grade naphtha inventories that built during the Rhine disruption, providing an outlet for surplus barrels , participants said. By Jide Tijani Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
London, 31 August (Argus) — European naphtha imports fell in August as an oversupplied regional market, weak petrochemical demand and Rhine shipping disruptions curbed requirements for imported barrels. Imports into Europe fell to 1.40mn metric tonnes (t) in August from 1.69mn t in July, Vortexa data show. The decline was led by lower arrivals from Algeria, which dropped by about 61pc to 155,700t from 397,400t a month earlier. Arrivals from Italy, Spain and the US also fell from July levels. Exceptionally low Rhine water levels hampered European demand through much of August, restricting barge movements into Germany and disrupting feedstock deliveries to inland petrochemical consumers. Several crackers cut operating rates because of logistical constraints, while facilities around Wesseling and Ludwigshafen were among those most exposed to the disruption. Water levels at the Kaub bottleneck fell to a record low of 17cm during the month before recovering after rainfall later in August. The logistical issues compounded already weak petrochemical demand, leaving Europe increasingly plentiful naphtha. Independently held naphtha stocks in the Amsterdam-Rotterdam-Antwerp (ARA) hub rose to around 600,000t by mid-August from 392,000t in early July, before dropping to 459,000t in the week to 26 August, according to Insights Global. The build-up was partly offset by stronger gasoline blending and a modest recovery in cracker feedstock demand as Rhine conditions improved. Northwest European naphtha cracks against North Sea Dated crude stayed negative throughout August, averaging a discount of $6.41/bl. As surplus barrels accumulated, European suppliers increasingly turned to export markets. Mediterranean naphtha exports to Asia rose during August, supported by recovering Asian petrochemical demand and an open east-west arbitrage. Flows across the Atlantic also increased, with Europe exporting about 104,000t of naphtha to the US in August — roughly triple July volumes — Kpler vessel-tracking data show. Market participants said mounting European supply coincided with firm US naphtha values, improving arbitrage economics for Europe's growing surplus. Strong US gasoline and natural gasoline (C5) prices supported demand for imported material, while discounted European cargoes could be used in gasoline blending or re-exported to Venezuela, where naphtha is used to dilute heavy crude. One trader said Europe was producing more paraffinic, petrochemical-grade naphtha than traditional outlets could absorb. Some fundamentals nevertheless supported naphtha values toward the end of the month. Strong west African demand for European gasoline boosted blending activity, while lower operating rates at Dangote's 700,000 b/d Lekki refinery in Nigeria increased regional gasoline import requirements. The gasoline-naphtha spread widened to $391/t on 27 August, its highest level in more than four years, helping absorb excess naphtha supply even as petrochemical demand stayed subdued. Improving Rhine logistics and firmer blending demand offered some support heading into September, although market participants continued to describe the European naphtha balance as well supplied. By Jide Tijani Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Mumbai, 31 August (Argus) — India's Haldia Petrochemicals (HPL) is looking to raise LPG use at its naphtha cracker in eastern India as it reassesses its feedstock slate following the start of the Iran war, chief executive Navanit Narayan told Argus . HPL is working with US-based technology provider Lummus to assess alternative feedstock options for its 700,000 t/yr naphtha-fed cracker, Narayan said on the sidelines of the Specialty Films and Flexible Packaging Global Summit and Exhibition in Mumbai, held on 26-27 August. US-based TCG is the controlling shareholder of both Lummus and HPL. The LPG share is still being discussed, Narayan said. "We never expected Middle Eastern [supplies] to be squeezed as much as they have been. About 50pc of our feedstock used to come from the wrong side of Hormuz." Middle East crude and product shipments have fallen sharply since the US-Iran war began in February. In 2024, HPL signed a 10-year agreement with QatarEnergy for 2mn t of naphtha supply. The company's trading team in Singapore secured sufficient cargoes from the spot market, with significant volumes sourced from Oman and the UAE, to keep the plant running, chief marketing officer Sanjiv Vasudeva said. HPL's relationships with domestic Indian refiners also helped the firm weather the crisis, he added. But for the longer term, it might be difficult to sustain using alternative naphtha supply sources, Narayan said. If HPL modifies its cracker, it would join several Asian competitors that are rethinking their strategies , including retrofits to improve feedstock flexibility. Rapid petrochemical capacity growth in China has sharpened pricing competition, especially in polyolefins, and squeezed margins for naphtha-based producers. Geopolitical uncertainty, including the Middle East crisis, has added to the pressure and accelerated market share losses for regional players. HPL is a key domestic polyolefins maker, with a combined linear-low density polyethylene (LLDPE) and high-density polyethylene (HDPE) capacity of 720,000t/yr. It also has a polypropylene (PP) production capacity of 340,000t/yr. Investment plans The company is also considering investments at its petrochemical complex in Haldia, in the West Bengal state, as it prepares for the commissioning of a 345,000/215,000 t/yr phenol/acetone plant. HPL expects the plant to be inaugurated in October, with meaningful volumes entering the market by November. "There will be a lot more investments that will follow, of different sizes and different chemicals," Narayan said, without disclosing further details. HPL remains confident about growth in eastern India and is evaluating specialised grades to meet customer needs, he added. HPL is also working with parent TCG on a new project in Cuddalore, Tamil Nadu, although it has yet to decide which products will be made there, Narayan said. By Sourasis Bose Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Sao Paulo, 21 August (Argus) — Argentinian polypropylene (PP) producer Petrocuyo has denied market rumors that its Ensenada plant will shut down indefinitely, saying the facility is scheduled only for a routine maintenance turnaround expected to last around two to three weeks. A company source told Argus that reports circulating in the market about a broader production stoppage were "totally incorrect" and stressed that the company was planning only a short maintenance outage. The source added that Petrocuyo has sufficient inventories to cover customer requirements and does not expect any significant impact on sales or regional supply during the maintenance period. The clarification comes amid heightened market speculation over the status of the Ensenada facility, given the importance of the facility within Argentina's polypropylene supply chain. According to the company source, operations outside the planned turnaround continue normally and the producer is not undertaking any extraordinary measures beyond its usual maintenance activities. The market reaction reflects broader uncertainty across the global polymers industry. Polypropylene producers in Latin America continue to face pressure from weak demand growth, abundant international supply and aggressive competition from imported material, particularly from Asia. These conditions have compressed margins across the value chain and fueled concerns whenever production outages emerge in the region. For Petrocuyo, however, the maintenance appears to be operational rather than structural. The company source said inventory levels remain adequate and downplayed the likelihood of any meaningful disruption to the market. The source also suggested that some of the rumors may stem from misinterpretations of routine maintenance activities in an environment already marked by oversupply and intense competition. Market participants are expected to continue monitoring the outage closely, given Petrocuyo's position as Argentina's sole polypropylene producer. While the Ensenada site is an important supplier of homopolymer PP to the domestic market, the company also operates its Luján de Cuyo plant in Mendoza, which remains in operation and produces a broader range of polypropylene grades. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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