Source: Xinhua News Agency Time: 2019-07-01 The European Commission announced in Brussels on June 25 that the EU and Vietnam will sign a trade and investment agreement in Hanoi on June 30. The trade agreement that the two parties will soon sign will gradually reduce until the abolition of 99% of the tariffs in bilateral trade in goods, reducing technical barriers for certain industries. The agreement will protect the EU's GI products and allow EU companies to participate in the Vietnamese government's procurement and enjoy equal treatment with Vietnamese companies. Read More

Source: China National Chemical News, January 31, 2019, Sinochem New Network News According to recent news from An Xunsi, the Asian bisphenol A (BPA) market is facing challenges, because whether there will be excess supply in the market in 2019 will largely depend on Demand in China.　　 Due to the decrease in downstream demand (especially polycarbonate and epoxy resin applications), the spot price of BPA in the Chinese market fell sharply in the fourth quarter of 2018. Coupled with the U.S.-China trade war leading to a sluggish import, the renminbi continued to weaken against the dollar, exacerbating the bear market atmosphere in the Asian BPA market.　　An Xunsi data shows that on December 21, 2018, the spot price of Asian BPA fell to 1250 US dollars / ton (CFR, China), a significant decrease of 23% over the same period of the previous year, the lowest since October 2017. BPA prices in China’s domestic market fell sharply for most of the fourth quarter of 2018, 12 Read More

Source: China National Chemical News January 31, 2019, Sinochem New Network News Saudi Aramco recently announced that it will spend US$1.6 billion to acquire a 19.9% ​​stake in its oil refining unit Hyundai Petroleum from Hyundai Heavy Industries. This move will make Saudi Aramco a stronger influence on the South Korean oil refining and oil market. Earlier, Saudi Aramco had a majority stake in S-Oil, another South Korean oil refining and oil company.　　Hyundai Heavy Industries stated that the company signed a stock trading agreement with Saudi Aramco at a price of 36,000 won (about US$32.24) per share. The transaction is worth US$1.6 billion, and its stake in Hyundai Petroleum will be reduced to 71%.　　Hyundai Petroleum is South Korea's third-largest oil refining company, accounting for 21.5% of the Korean retail market. Another Saudi Aramco-controlled company, S-Oil, accounts for 20%, and Saudi Aramco has a 60% share in this company. SK Energy and Jiade Taxi are the two largest Korean market share Read More

Source: Trade Remedy and Investigation Bureau, Ministry of Commerce 2019-02-01On January 30, 2019, applicants such as U.S. Vitaworks IP and Vitaworks filed with the U.S. International Trade Commission (section 337 of the US Tariff Act 1930) ITC) filed an application alleging that Taurine (2-aminoethanesulfonic acid) products exported to, imported or sold in the United States and its production process (Certain Taurine, Methods of Production and Processes for Making the Same, and Products Containing the Same) infringed its patent rights, requesting ITC to initiate a 337 investigation and issue a limited exclusion order and prohibition order. Hubei Yuanda Life Science and Technology Read More

Source: China National Chemical News January 31, 2019 　 Sinochem Xinwang News In the week ending January 11, affected by investors' confidence and other factors, international oil prices rose sharply. As of the close of the week, the two major oil index contracts rose significantly, with Brent crude oil up about 6% and US crude oil up about 7.6%. However, market participants remain cautious because a series of recent economic data has triggered investors' concerns about the global economic slowdown.　　Kristalina Georgieva, acting president of the World Bank, said that the global economy was strong in the beginning of 2018, but it gradually stalled in the middle of the year. This year's development path may be more bumpy.　　The US Energy Information Administration's data for the week showed that US commercial crude oil inventories fell 1.7 million barrels last week, which was lower than the 2.8 million barrels drop predicted by analysts. Over the same period, U.S. auto gasoline inventories increased by 8.1 million barrels, higher than analysts’ forecast of 3.4 million Read More

Source of information: Ministry of Commerce website time: 2019-07-016, 25th May, Kazakhstan’s first deputy prime minister and finance minister Smajlov said on the same day that the government will develop a national plan for the \"Business Roadmap-2025\" this year, adopting the new The model supports business development, including the inclusion of transitional practices and principles of presumption of integrity into relevant legislation. Si said that it is necessary to optimize the tax types and continue to promote digital tax management. Read More

Source: China National Chemical News July 27, 2019. On June 27, 2019, S-Oil, a subsidiary of Saudi Aramco, established a new residue upgrading complex and an olefin downstream product manufacturing complex in Ulsan, South Korea. The new facility uses new oil refining technology to increase the proportion of S-Oil's petrochemical production capacity from 8% to 13%, providing high-value products such as propylene and gasoline.　　At the inauguration ceremony, Saudi Aramco and S-Oil also signed a memorandum of understanding to cooperate in the development of a US$6 billion steam cracker and olefin downstream project, which is expected to be completed in 2024. This new steam cracker will use naphtha and refinery dry gas to produce ethylene and other basic chemical products. This new agreement will support Saudi Aramco to more effectively implement its plan to expand the global petrochemical business in the next decade. It also includes the deployment of Saudi Aramco’s thermal crude oil-to-chemical products technology to help S-Oil focus its business focus from Read More

Source: Ministry of Commerce website January 30, 2019 Baku January 25th REPORT.AZ net quoted Reuters news that this winter Europe has become the main buyer of LNG in the United States, the United States on the mainland of LNG Sales increased nearly 5 times.　　 Europe bought more US liquefied natural gas this winter than South Korea and Mexico. From October last year to January this year, Europe imported 3.23 million tons of liquefied natural gas from the United States, compared with 700,000 tons in the same period last year.　　Currently, the US supplies natural gas to the European continent, second only to Qatar, the world’s largest natural gas producer. Read More

Source: China National Chemical News July 4, 2019 The outlook for the US propylene market is not optimistic. Since the beginning of this year, U.S. propylene inventories have been at or near record levels, and in the second half of the year, at the propylene supply side, refinery operating rates have remained strong, cracker capacity has increased, and propylene supply has been strong. On the demand side, affected by the continued escalation of US-China trade frictions and the slowdown in global economic growth, the growth in propylene demand is slowing. Affected by this, the supply of propylene in the United States will exceed the downstream demand for propylene, and the market supply will be further surplus, causing the price of propylene in the United States to fall.　　 Market participants expect that in the second half of 2019, U.S. propylene production will be boosted by two main factors: the refinery operating rate remains high and new crackers are put into production.　　 In the second half of the year, US refinery operating rate levels will remain high, especially when it is expected that diesel demand will be stronger. Since the International Maritime Organization (I Read More