Asia’s naphtha prices and refining margins jumped to their highest since 2014 propelled by strong demand growth for the petrochemical feedstock and as alternative liquefied petroleum gas (LPG) becomes expensive amid a global power crunch. LPG prices from the United States, Middle East and Europe have jumped by roughly a third in the past three .
Asia's naphtha prices and refining margins jumped to their highest since 2014 propelled by strong demand growth for the petrochemical feedstock and as alternative liquefied petroleum gas (LPG) becomes expensive amid a global power crunch.
China’s fuel clampdown curbs its LCO imports, Korean refiners to suffer
China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea.
China’s imports of the cheaper but more pollutive diesel blending fuel nearly doubled to record levels in 2020, but a clampdown in top oil consuming Guangdong province has curbed demand.
The amount of South Korean LCO, a refinery by-product, to be loaded for shipment to China in May is down 60% from March while spot premiums have halved, industry sources said.
South China clampdown tackles both tax evasion and air pollution Chinese LCO imports to fall, hitting top supplier South Korea
SINGAPORE, April 28 (Reuters) - China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea.
China’s imports of the cheaper but more pollutive diesel blending fuel nearly doubled to record levels in 2020, but a clampdown in top oil consuming Guangdong province has curbed demand.
The amount of South Korean LCO, a refinery by-product, to be loaded for shipment to China in May is down 60% from March while spot premiums have halved, industry sources said.