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OIL PRODUCTS: Chinese Naphtha Demand Expected to Improve from Mid-December

OIL PRODUCTS
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Chinese naphtha appetite is expected to improve from mid-December as Wanhua Chemicals No.2 (1.2 Mt/year) mixed feed ethane/naphtha cracker and Exxon’s Huizhou mixed feed (LPG/naphtha) cracker (1.6 Mt/year) look for feedstock ahead of their Q1 2025 start dates according to Kpler.

  • Kpler forecasts that Asian naphtha cracks follow a modest decline until mid-December, supported by weak refinery runs in the region limiting supply.
  • Two steam crackers are in the process of ramping up in China (Ineos-Sinopec, 1.2 Mt/year) and Yulong’s No.1 (1.5 Mt/year) - but these units will rely on ethane and integrated-refinery feedstock, having little effect on naphtha balances.

 

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Chinese naphtha appetite is expected to improve from mid-December as Wanhua Chemicals No.2 (1.2 Mt/year) mixed feed ethane/naphtha cracker and Exxon’s Huizhou mixed feed (LPG/naphtha) cracker (1.6 Mt/year) look for feedstock ahead of their Q1 2025 start dates according to Kpler.

  • Kpler forecasts that Asian naphtha cracks follow a modest decline until mid-December, supported by weak refinery runs in the region limiting supply.
  • Two steam crackers are in the process of ramping up in China (Ineos-Sinopec, 1.2 Mt/year) and Yulong’s No.1 (1.5 Mt/year) - but these units will rely on ethane and integrated-refinery feedstock, having little effect on naphtha balances.

 

Keep reading...Show less