Source: China National Chemical News Time: 2020-01-06 Due to the economic recession, India expects its oil consumption to increase at the slowest rate in six years. The Petroleum Planning and Analysis Group of the Ministry of Petroleum said that in the fiscal year ending March 2020, India’s consumption of petroleum products is expected to increase by 1.3% to 216 million tons. This was the lowest level since the demand for petroleum products increased by 0.9% from 2013 to 2014, when the average price of crude oil was above US$100 per barrel.　　The slowdown in the growth of consumption of petroleum products reflects the general decline in demand for commodities from cars to houses in India. India’s economic growth has been at a six-year low. The latest data shows that India’s industrial production contracted for three consecutive months in October 2019, mainly due to energy-intensive industries such as production materials, infrastructure and building materials.　　PPAC data show that Indian diesel Read More

Source: Ministry of Commerce February 27, 2020 According to a report of the Statistics Bureau of Nigeria, in January 2020, the average price of premium gasoline was 145.37 naira (approximately US$0.474) per liter, a year-on-year decrease of 0.23% and a month-on-month increase of 0.01%. The highest average price of premium gasoline is 146.91 naira/liter in Bayelsa, and the lowest average price is 144 naira/liter in Katsina. The average price of diesel was 229.78 naira (about US$0.749)/liter, up 2.09% year-on-year and down 0.01% month-on-month. The highest average price is 254.29 naira/liter in Taraba State, and the lowest average price is 205.31 naira/liter in River State. Read More

Source: China Trade Remedy Information Network Time: 2020-02-26 On February 25, 2020, the Ukrainian Interdepartmental International Trade Commission issued a notice saying that it should apply for Ukrainian domestic enterprises according to the СП-440/2020/ on February 21, 2020. Resolution 4411-03 decided to initiate an investigation of safeguard measures for polymeric materials (Ukrainian: полімерні матеріали). The products involved include polyethylene with a density exceeding 0.94 and polyvinyl chloride not mixed with other substances. This case concerns products under Ukrainian tax numbers 3901 20 90 00 and 3904 10 00 00. Stakeholders should register for responding within 20 days of this announcement and submit evidence within 30 days. Read More

Source: World Energy Network Time: 2020-02-26 The head of the International Energy Agency (IEA) said on Tuesday that the outbreak of coronavirus may have an impact on global oil demand growth that exceeds current expectations. He added that the agency may further lower its oil demand growth forecast. IEA executive director Fatih Birol said at an energy conference in London today: \"We will definitely see the lowest growth in oil demand in the past decade, and we may need to lower it.\" \"　　Coronavirus outbreaks are spreading to international events. This is the regular holding of the International Petroleum Week in London this week. However, due to the outbreak, many participants cancelled receptions and events at the meeting. Sources said last week that major international oil traders and refineries have canceled networking activities.　　 The head of the Paris-based agency issued the above comment Read More

Source: Refrigeration Express Time: 2020-02-25 WHO Director-General Tan Desai said on the 22nd that although the newly diagnosed cases in China showed a downward trend, it was gratifying, but the number of new infections in other countries continued to increase It is too early to make predictions about the epidemic. In response to the increase in cases of new coronary pneumonia in many countries around the world, Tan Desai called on all countries to seize the \"window of opportunity\" to control the spread of the epidemic and act quickly to reverse the dilemma and avoid serious crises. With the rapid spread of the epidemic, concerns about economic conditions have also surfaced. Reuters reported that current economic experts around the world are worried that the epidemic may develop into a worldwide epidemic, causing devastating and potentially fatal consequences for the economies of various countries. It is worth noting that on February 22, the finance ministers of the G-20 countries and the president of the central bank held a two-day meeting in Riyadh. The core topics of the meeting are Read More

Source: China National Chemical News Time: 2020-02-21 Affected by the sudden emergence of a new crude pneumonia epidemic in China, a country that consumes large amounts of crude oil, international oil prices have plummeted recently. However, domestic coal mine production and transportation have been blocked, which has led to further tightening of coal resources and the increase in coal prices. The ups and downs indicate that the existing domestic petrochemical and coal chemical industry competition will be broken, and the domestic energy and chemical markets may undergo differentiation and reconstruction.　　 The world economy continues to slump, and China's epidemic has exacerbated concerns about the decline in crude oil consumption. Since the US-Iraq confrontation in January and the WTI oil price quickly surged to the front line of US$65/barrel, international oil prices have fallen by nearly 25% in a month. Even after OPEC+ issued a clear production cut signal a few days ago, oil prices are still declining. Recently, the IEA has reduced its oil demand in the first quarter of 2020, and oil consumption is expected to drop for the first time in 10 years. On the evening of February 18th, WTI crude oil futures and Brent crude oil futures fell once. Read More

Source: China Trade Relief Information Network Time: 2020-02-2020 February 19, 20, the Ministry of Commerce and Industry of India issued a notice saying that Chlorinated Polyvinyl Chloride (CPVC) originated or imported from China and South Korea A final anti-dumping ruling was made: China and South Korea involved in dumping of the products involved, which caused substantial obstacles to the Indian domestic industry, and there was a causal relationship between the dumping and the substantial hindrance of the Indian domestic industry. Therefore, it is recommended to levy a five-year anti-dumping duty on the products involved in the above countries. The tax amount is the difference between the imported value (landed value, provided that it is below the minimum price) and the minimum price (see the attached table). The case involved Indian customs codes 39041110, 39044190, 39044210, 39044290, Read More

Source: China Trade Remedy Information Network Time: 2020-02-18 February 13, 2020, in response to an application filed by the American company Arkema Inc. on January 23, 2020, the US Department of Commerce announced that it would import difluoromethane from China ( Difluoromethane (refrigerant R32) initiated an anti-dumping investigation. The products involved in this case are under the US Customs Tariff Nos. 2903.39.2035, 2903.39.2045, and 3824.78.0020. The product involved in this investigation is difluoromethane (R32), regardless of its form, type and purity level. The CAS number of R32 is 75-10-5, and the chemical formula is CH2F2. The products involved also include R32 processed in third countries or the United States and unpurified R32, including but not limited to purified or any other processed products. Contains in addition to pentafluoroethane (R Read More

Source: Website of the Ministry of Commerce Time: 2020-02-13 One is to expand investment by leveraging security. Actively assist existing foreign-invested enterprises in safe and orderly resumption of production and production, focusing on anti-epidemic protection products, guiding enterprises to expand their scale and increase production capacity; revolving around guaranteeing export orders, classifying safe and orderly arrangements for enterprises to resume production and re-production; Reserve a batch of new medical and health projects with strong motivation to comfort \"old friends\" and attract \"new friends\". The second is to vigorously promote online investment. Expand and improve \"Choose Shandong\" cloud platform function, build and launch \"Cloud Investment\"\"Cloud Recruitment\" intelligent system, hold \"Online Investment Promotion\"\"Online Recruitment\" and other online promotion The event provides an online investment service platform for the province's investment promotion through a convenient, real-time, and remote, non-face-to-face approach. Guiding cities to communicate with foreign businessmen through emails and instant communication tools, and actively promote projects under discussion Read More