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    Home > Chemicals Industry > International Chemical > Top Ten International Petrochemical News in 2021

    Top Ten International Petrochemical News in 2021

    • Last Update: 2022-01-23
    • Source: Internet
    • Author: User
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      Global petrochemical companies recover strongly

    Global petrochemical companies recover strongly

      In 2021, with the global administration of the new crown pneumonia vaccine, countries generally relax their epidemic prevention policies, and the economies of various countries rebound strongly relative to 2020
    .
    Affected by this, international petrochemical companies generally recovered strongly

    .
    The financial reports of major companies in the first three quarters of 2021 show that petrochemical profit margins have generally reached record levels

    .

      U.
    S.
    petrochemical production areas hit by natural disasters

      U.
    S.
    petrochemical production areas hit by natural disasters

      On February 13, a severe cold wave hit the continental United States
    .
    The cold wave has battered the U.
    S.
    energy capital Texas, causing massive power outages in the state, forcing a halt to oil and gas extraction and chemical production

    .
    Affected by this, the price of global petrochemical products increased rapidly

    .
    It took several months for the local area to completely eliminate the impact of the disaster

    .
    Misfortunes do not come singly.
    On August 29, Category 4 Hurricane Ida made landfall near Louisiana

    .
    The hurricane not only caused the shutdown of local oil and petrochemical companies, but also caused the prices of various petrochemical products, which were already high at the time, to soar

    .

      Pressure on the shipping industry soars

      Pressure on the shipping industry soars

      In 2021, affected by the recovery of international trade and the substantial increase in shipping demand, the contradictions in the transportation side of the supply chain will be prominent, which will have a serious impact on the petrochemical industry
    .
    In particular, on March 23, the stranding of the "Changci" caused congestion in the Suez Canal channel for several days, and the butterfly effect brought about by the obstruction of the canal continued to exacerbate global supply chain risks

    .
    Insufficient production supply and transportation bottlenecks have continued to ferment the supply chain crisis, driving up the prices of raw materials and petrochemical products, posing huge challenges to the overall recovery of the world economy

    .

      Global oil and gas prices soar

      Global oil and gas prices soar

      Global demand for oil and gas has soared as countries eased coronavirus lockdowns
    .
    On the other hand, OPEC+ refuses to accelerate the increase in production, and European countries carry out a renewable energy transition and reduce their dependence on highly polluting coal, resulting in a surge in international energy prices in 2021

    .
    By November, the international oil price once exceeded US$80 per barrel, and the price of natural gas in Europe hit a record high

    .
    Natural gas prices have soared, causing power shortages and further shortages of some industrial gases and products such as fertilizers

    .

      Global fertilizer prices hit a 12-year high

      Global fertilizer prices hit a 12-year high

      In mid-2021, the global grain planting area will increase, the demand for fertilizers will increase, and the new supply will decrease, resulting in a surge in global fertilizer prices
    .
    In the second half of the year, affected by rising energy costs in Europe and other factors, fertilizer prices have risen to historical levels that have never been seen in the market since the global financial crisis, hitting a 12-year high

    .
    According to statistics, the price of monoammonium phosphate increased by 68.
    78% compared with the beginning of the year; the price of diammonium phosphate increased by 39.
    38% compared with the beginning of the year

    .

      European Parliament passes bill on Carbon Border Adjustment Mechanism (CBAM)

     European Parliament passes bill on Carbon Border Adjustment Mechanism (CBAM)

      On March 10, the European Parliament voted to pass the "Carbon Border Adjustment Mechanism" (CBAM) motion, which brings the EU one step closer to the official implementation of carbon tariff policy in 2023
    .
    The bill said the EU would impose carbon tariffs on imports from some countries that trade with the EU if they fail to comply with regulations on carbon emissions

    .

      Oil giants accelerate new energy investment

      Oil giants accelerate new energy investment

      In 2021, as countries strengthen environmental protection, environmental pressure on oil majors will intensify, forcing them to make more transformations
    .
    BP, Shell, Saudi Aramco and other giants have proposed green oil and gas transformation plans, which can meet the environmental protection requirements of the world and obtain investment support from the financial industry

    .

      The largest oil pipeline in the United States is "hacked"

      The largest oil pipeline in the United States is "hacked"

      On May 10, a major "black swan" event occurred in the United States
    .
    The supply network for one of the largest U.
    S.
    oil pipelines was forced to shut down due to a cyber attack on the country's fuel pipeline operator, Colonial Pipeline Transportation, leaving nearly half of the fuel supply on the East Coast

    .
    The incident caused panic among consumers and roiled the crude oil market

    .

      Internationalized enterprises accelerate transformation

      Internationalized enterprises accelerate transformation

      In 2021, international enterprises will accelerate the transformation process
    .
    International giants such as BASF, Michelin, and Clariant have completed their "downsizing", while Nippon Paint, Huybach, PTTGC and other companies have completed mergers and acquisitions of hot businesses

    .

      Covid-19 variant disrupts petrochemical recovery

      Covid-19 variant disrupts petrochemical recovery

      In 2021, the COVID-19 situation is still changing
    .
    In May, affected by the Delta variant, the epidemic in India deteriorated sharply, which had a serious impact on the Asian petrochemical industry market

    .
    In November, the Omicron variant was discovered in South Africa, which caused strong fluctuations in the global petrochemical market

    .



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