Gasoline fever lures bumper exports of niche chemical from China

22/6/2022 8:28:00 PM

OIL & GAS: Gasoline fever lures bumper exports of niche chemical from China - Bloomberg

OIL & GAS: Gasoline fever lures bumper exports of niche chemical from China - Bloomberg

(June 22): China’s exports of a chemical used to improve the quality of gasoline surged as producers took advantage of higher prices overseas.Exports of a group of chemicals that includes methyl tert-butyl ether, known as MTBE, rose to about 87,400 tons in May, according to government data. That’s a sixfold gain from April and the highest level in Chinese customs figures going back to 2017. Industry consultant OilChem estimates that most of the exported volumes were MTBE, which boosts the

(June 22): China’s exports of a chemical used to improve the quality of gasoline surged as producers took advantage of higher prices overseas.Exports of a group of chemicals that includes methyl tert-butyl ether, known as MTBE, rose to about 87,400 tons in May, according to government data. That’s a sixfold gain from April and the highest level in Chinese customs figures going back to 2017. Industry consultant OilChem estimates that most of the exported volumes were MTBE, which boosts the octane rating of gasoline.

Read more:
The Edge Malaysia »

Man killed in Cameron Highlands landslide

IPOH: A backhoe driver was killed in a landslide at Blue Valley in Kampung Raja, Cameron Highlands. Read more >>

China probes cops over attack on women that has stunned nationBEIJING (Bloomberg): China is launching an investigation into a group of police officials over their handling of an attack on female diners at a restaurant, an incident that prompted an outpouring of stories from women around the Asian nation who said they’d been badly mistreated in the past.

Mampukah China atasi AS?Misi pembaharuan dan pembangunan legasi dan kebanggaan China sebagai negara moden, unggul dan dominan dalam Wawasan 2049

Hong Kong floating restaurant sinks in South China SeaHONG KONG, June 20 — Jumbo floating restaurant, a once famed but financially struggling Hong Kong tourist attraction, sank in the South China Sea after being towed away from the...

China stocks decouple from West — and realityHONG KONG (June 22): Chinese equities have finally turned upward. After broadly falling for more than a year, they do look cheap. And on paper at least, this sort of decoupling provides just the sort of hedge traders want when their local markets crash. It just may be illusory.Since a nadir in late April, the benchmark CSI300 index, which tracks the largest companies listed in Shanghai and Shenzhen, has gained some 14% against a 10% fall in the S&P 500

China imports 2 mil barrels more of Iran oil, likely for reserves — tanker trackersSINGAPORE/DUBAI/BEIJING (June 22): China has received a new shipment of nearly 2 million barrels of Iranian oil in the past week at a southern port, according to shipping trackers, with one tracker saying the cargo is destined for state reserves.The 260,000 tonne cargo, carried by vessel Dorena which is owned by the National Iranian Tanker Corp (NITC), was discharged at Zhanjiang port, according to shipping tracking specialist Vortexa Analytics, as well as US advocacy group United Against Nuclear Iran, which

China shares fall on economic outlook, HK down on signs of tech crackdownSHANGHAI (June 22): Mainland Chinese shares ended lower on Wednesday (June 22) as extreme weather in some parts of the country added uncertainty to the economic recovery from Covid-19 shocks, while signs of a fresh crackdown on tech firms and the platform economy hurt the Hong Kong market.At the market close, the Shanghai Composite Index closed down 1.2% at 3,267.2 points, while the blue-chip CSI 300 Index lost 1.27% to 4,270.62.The financial sector sub-index edged down 1.48%, the consumer staples

A (June 22): China’s exports of a chemical used to improve the quality of gasoline surged as producers took advantage of higher prices overseas.Ma Aijun, the police chief of the district in the northern city of Tangshan where incident occurred earlier this month, along with four other officers was being probed for"severe disciplinary violations,” China Central Television reported Tuesday (June 21), citing the anti-graft agency in Hebei province.Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website.for the latest news you need to know.

Exports of a group of chemicals that includes methyl tert-butyl ether, known as MTBE, rose to about 87,400 tons in May, according to government data. That’s a sixfold gain from April and the highest level in Chinese customs figures going back to 2017. The state broadcaster said separately that Ma’s deputy has been relieved of duty for"improper” law enforcement, citing police officials in Hebei. Industry consultant OilChem estimates that most of the exported volumes were MTBE, which boosts the octane rating of gasoline. These cookies will be stored in your browser only with your consent. Fuel markets have tightened as the peak summer demand period kicks off in the northern hemisphere, with supply in part crimped by upended trade flows following Russia’s invasion of Ukraine. A video clip showing the violent assault on the women who had brushed off an advance by a man at a barbecue restaurant early on June 10 went viral in China, and local media reports later said two of the females were sent to an intensive-care unit at a hospital. The availability of components that are blended with gasoline have also been squeezed because of a lack of refining capacity across many regions. It said marine engineers had been hired to inspect the floating restaurant and install hoardings on the vessel before the trip, and that “all relevant approvals” had been obtained.

The US still makes and ships MTBE, but phased out its domestic use in the 2000s due to water contamination concerns. In a sign of how the attack was still resonating with the Chinese public on Tuesday, social media users were pointing out that local police initially said they responded to the attack within five minutes but Hebei authorities later said it took them 28 minutes. Necessary Always Enabled Necessary cookies are absolutely essential for the website to function properly. Malaysia received the most flows from China last month, followed by Singapore and Japan, according to OilChem. Unlike finished products such as gasoline and diesel, Chinese producers are not constrained by export quotas for MTBE. The Chinese government would be especially keen to avoid any flareup of #MeToo voices now given its preparations for a major party congress later this year that’s expected to hand Xi a third term in charge. Trade data for chemical products is occasionally adjusted by the customs agency. Non-necessary Non-necessary Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. China’s MTBE exports to Europe and the Americas are estimated to reach about 50,000 tons over May and June, according to global commodity intelligence provider ICIS.” Women’s rights issues threatened to overshadow the Beijing Winter Olympics in February. The restaurant set off shortly before noon last Tuesday from the southern Hong Kong Island typhoon shelter where it had sat for nearly half a century.

The last shipments of scale from China outside of Asia was about 11,600 tons sent to Chile in 2019, said ICIS analyst Huang Lifang. Volumes flowing to Singapore could also be redirected to the west, according to ICIS. Weeks later, authorities in the eastern province of Jiangsu were accused of downplaying the case of a mother of eight filmed chained by the neck in a hut. Weak domestic demand in China due to virus lockdowns and the lure of better prices overseas prompted some producers to ship the product for the first time last month. PetroChina Dalian exported 3,500 tons, while Sinochem Quanzhou shipped 1,800 tons to Singapore, according to separate statements. The fact that the attackers were taken into custody only after security footage of the incident had gone viral raised questions on social media over whether police were protecting gangsters. The free-on-board price for MTBE in Rotterdam-Amsterdam was about US$530 a ton higher than that in China as of the end of May, according to ICIS. Some online commentators described pictures of the floating palace sailing across a charcoal grey ocean towards the horizon as a metaphor for Hong Kong’s future.

Chinese exporters could make a windfall of 2,000 yuan (US$299) a ton in May and June, OilChem estimated. Police in Tangshan responded with that they called a"blitz storm” to collect clues on gang-related crime, with photos posted online later showing locals standing in long lines to file police reports. A rebound in Chinese fuel demand as the nation returns from virus restrictions is likely to lead to reduced MTBE flows, according to traders and executives at Chinese refiners, who asked not to be identified because the information is private. OilChem estimated July exports will fall to 50,000-to-60,000 tons. A reporter from a TV station in the southwestern province of Guizhou said local police prevented him from filming outside the barbecue restaurant last week. Subscribe to Mid-day email alert We deliver news to your inbox daily .