Berlin, Germany, October 6, 2018 The Ifo economic institute stated on Friday that the German chemical industry entered a deeper state of crisis in September as a result of declining order books and sluggish international demand. “September had very few positive aspects overall. According to Ifo industry analyst Anna Wolf, the chemical sector is in …
According to IFO, The German Chemical Sector is in “Deep Crisis.” Read More »
As part of a major push toward renewable energy, Indian oil refining giant Reliance Industries on Wednesday unveiled its interchangeable and multipurpose battery storage technology for electric vehicles (EVs). At a renewable energy expo, Reliance, headed by billionaire Mukesh Ambani, exhibited swappable and replaceable batteries for electric vehicles that can also be used to …
India’s Oil Giant Reliance Unvieled its Battery Storage Technology for EV Read More »
Due to an increase in domestic costs for the polluting fuel and a rise in electricity demand, China’s growing hunger for thermal coal exports has sparked a flurry of deal-making at the largest industry convention in the world, which is taking place in Indonesia. The three-day Coaltrans conference, which finished on Tuesday, attracted traders supplying …
Chinese Needs Create Deals at Worlds Biggest Coal Conference Read More »
At the end of August, Chile’s government declared a state of calamity as catastrophic rains lashed out at remote settlements, leaving at least three people dead. President Gabriel Boric’s administration declared an agricultural emergency last week affecting 100 communities, and it approved $8.3 million to restore irrigation infrastructure, canal systems, and other support programs for …
Agriculture in Crisis: The Aftermath of Chile’s Heavy Rains Read More »
As per Reuters report, Reduced production of robusta beans, the primary variety of coffee produced in Indonesia, might lead to further increases in prices, which have increased by more than 40% in 2023 and reached a record high in June. After torrential rains reduced output to its lowest level in more than a decade and …
Exporters across Asia and as far south as South America have been forced to consider the potential financial repercussions before increasing their sales as a result of the prohibition on new shipments of non-Basmati white rice from the world’s largest source of the crop. The non-Basmati white rice, which made up almost a third of …
Global Rice Market Experiences Repercussions from India’s Export Ban Read More »
Since the start of the crisis between Ukraine and Russia, South Korean petrochemical manufacturers have found it challenging to obtain inexpensive Russian naphtha, which has resulted in significantly higher feedstock procurement costs, according to South Korean Finance Ministry. On top of the expanding petrochemical production capacity in China, India, and the Middle East that jeopardizes …
South Korea Welcomes Tariff-Free Naphtha and Crude Oil for Petrochemicals Read More »
Reuters reported Middle Eastern crude prices in Asia dropped to their lowest point inmonths as Asian refiners held off on spot purchases and China and India gorged on cheap Russian oil. In accordance with traders, Saudi Arabia, the world’s largest exporter, may lower rates for its term cargoes to Asia for a second consecutive month …
Regardless of Cuts from OPEC+, Sour Crude Prices Declined in Asia Read More »
According to Chief Financial Officer Shou Donghua, Sinopec, the largest refiner in the world by capacity, increased its refining profits in the first quarter by 17.5% year over year to $8.70 per barrel. With that increment, compared to the first three months of 2023, Sinopec Corp forecasts that China’s demand for diesel and gasoline would …
Sinopec Expects China’s Fuel Demand Recovery to Pick Up Steam Read More »
Early in May, the US Environmental Protection Agency (EPA) proposed new standards to address the carbon pollution issue. Based on the press release, these standards would result in net climate and health benefits through 2042 that could total up to 85 million USD. Avoiding up to 617 million metric tons of CO2 emission through 2042 …
EPA Put Forward New Plant Carbon Dioxide Standards Read More »
In 2023, analysts predict that China will import a record amount of crude oil due to rising gasoline consumption as more people travel as a result of the removal of COVID-19 regulations and the startup of new refineries. The issue is cited from Reuters in early 2023. China’s crude imports may rise by 500,000 to …
China is On Track to Achieve Significant Increase in Crude Oil Imports in 2023 Read More »
In an effort to lower domestic prices by increasing supply ahead of significant state elections, India, the world’s second-largest sugar producer, on Wednesday extended its ban on sugar exports past October. India’s export ban is expected to drive up benchmark prices in New York and London, where markets are already hovering around multi-year highs. This …
India Continues to Restrict Sugar Exports in an Effort to Lower Domestic Prices Read More »
The Indonesian Crude Palm Oil (CPO) Exchange has been formally launched by the government via the Ministry of Trade (Kemendag). The Indonesia Commodity & Derivatives Exchange (ICDX) Group has been formally designated by the Commodity Futures Trading Regulatory Agency (Bappebti) as the exchange’s organizer for crude palm oil (CPO). The man who goes by Zulhas …
Indonesia launched its Own Crude Palm Oil Exchange Read More »
Innovative Breakthrough: Cosmetics Ingredient Paves the Way for Next-Gen Batteries In a groundbreaking development reported by Nikkei Asia, a common chemical found in cosmetic products is now taking center stage in the creation of the next generation of rechargeable batteries. Addressing challenges in the production of future batteries, including solid-state batteries and sodium-ion batteries, Japanese …
New Battery Technology, Now Uses a Cosmetics Component Read More »
