Latest news with #JLC
Time of India
3 days ago
- Business
- Time of India
New plants, US trade worries to drive China's 2025 naphtha imports to record
China's naphtha imports will hit record levels this year as new plants and caution over US propane and ethane purchases will drive demand and support refiners' margins for the petrochemical feedstock , analysts and traders said. Cracker operators in the world's largest petrochemical producer, which pivoted in recent years to cheaper US propane and ethane feedstock, are switching some demand back to naphtha after being ensnared in the US-China trade war that disrupted their US supplies, the sources said. The need to diversify supplies and to meet demand from new plants will drive naphtha imports to an all-time high of 16 million to 17 million metric tons (144 million to 153 million barrels) this year, consultancies Rystad Energy and FGE said. JLC pegs 2025 imports at about 15 million tons. China imported about 12 million tons in 2024, official data showed. "With issues in imports of ethane and propane , there is a trust factor that has come into play when it comes to US cargoes," said Pankaj Srivastava, senior vice president, commodity markets at Rystad Energy. "Naphtha, on the other hand, is independent of these concerns because suppliers are varied." A total of 4 million tons per year (tpy) of ethylene capacity is slated to come online in China by end-2025, aiding import demand, and this will increase to about 6 million tpy by first half of 2026, he added. The International Energy Agency (IEA) said in its July report that China's naphtha demand is expected to rise by about 6 per cent in 2025 and by 8.6 per cent in 2026, significantly outpacing the combined growth of propane and ethane, which is projected at just 2.3 per cent in 2025 and 1.3 per cent in 2026. Following the disruption in U.S. supply, China issued a second batch of 2025 naphtha import quotas in June totalling nearly 24 million tons, nearly doubling last year's allocations. China imported nearly 6 million tons of naphtha between January and May, up 22.81 per cent on-year and the highest level since 2015, government data showed, with Russia, the United Arab Emirates and South Korea the biggest suppliers. This compares with a 6 per cent on-year rise in propane imports to 12.3 million tons in the first five months, while ethane imports were flat at 2.3 million tons in the same period, government data showed. China's liquefied petroleum gas (LPG) imports, which include propane, are likely to stay lower in the third quarter amid cautious buying of US cargoes, Energy Aspects said in a July 4 note. The robust naphtha demand is expected to underpin Asian refiners' margins, analysts said. Naphtha margins have risen about 4 per cent this month to $73.30 over Brent crude on hopes of healthy feedstock demand from China. "Increased pull from China will provide support to (naphtha) cracks towards the middle of third quarter to fourth quarter," Rystad's Srivastava said.
Reuters
4 days ago
- Business
- Reuters
New plants, US trade worries to drive China's 2025 naphtha imports to record
NEW DELHI/BEIJING, July 16 (Reuters) - China's naphtha imports will hit record levels this year as new plants and caution over U.S. propane and ethane purchases will drive demand and support refiners' margins for the petrochemical feedstock, analysts and traders said. Cracker operators in the world's largest petrochemical producer, which pivoted in recent years to cheaper U.S. propane and ethane feedstock, are switching some demand back to naphtha after being ensnared in the U.S.-China trade war that disrupted their U.S. supplies, the sources said. The need to diversify supplies and to meet demand from new plants will drive naphtha imports to an all-time high of 16 million to 17 million metric tons (144 million to 153 million barrels) this year, consultancies Rystad Energy and FGE said. JLC pegs 2025 imports at about 15 million tons. China imported about 12 million tons in 2024, official data showed. "With issues in imports of ethane and propane, there is a trust factor that has come into play when it comes to U.S. cargoes," said Pankaj Srivastava, senior vice president, commodity markets at Rystad Energy. "Naphtha, on the other hand, is independent of these concerns because suppliers are varied." A total of 4 million tons per year (tpy) of ethylene capacity is slated to come online in China by end-2025, aiding import demand, and this will increase to about 6 million tpy by first half of 2026, he added. The International Energy Agency (IEA) said in its July report that China's naphtha demand is expected to rise by about 6% in 2025 and by 8.6% in 2026, significantly outpacing the combined growth of propane and ethane, which is projected at just 2.3% in 2025 and 1.3% in 2026. Following the disruption in U.S. supply, China issued a second batch of 2025 naphtha import quotas in June totalling nearly 24 million tons, nearly doubling last year's allocations. China imported nearly 6 million tons of naphtha between January and May, up 22.81% on-year and the highest level since 2015, government data showed, with Russia, the United Arab Emirates and South Korea the biggest suppliers. This compares with a 6% on-year rise in propane imports to 12.3 million tons in the first five months, while ethane imports were flat at 2.3 million tons in the same period, government data showed. China's liquefied petroleum gas (LPG) imports, which include propane, are likely to stay lower in the third quarter amid cautious buying of U.S. cargoes, Energy Aspects said in a July 4 note. The robust naphtha demand is expected to underpin Asian refiners' margins, analysts said. Naphtha margins have risen about 4% this month to $73.30 over Brent crude on hopes of healthy feedstock demand from China. "Increased pull from China will provide support to (naphtha) cracks towards the middle of third quarter to fourth quarter," Rystad's Srivastava said.
Reuters
5 days ago
- Business
- Reuters
China's June oil throughput surges as state-owned refineries ramp up operations
July 15 (Reuters) - China's crude oil throughput in June rose 8.5% from a year earlier, official data showed on Tuesday, as state-owned refineries increased operations and saw a recovery in profit, according to consultancies. The world's second-largest oil consumer processed 62.24 million metric tons of crude in June, or about 15.15 million barrels per day (bpd), according to data from the National Bureau of Statistics. The daily processing rate rose 8.8% from May to the highest level since September 2023, according to Reuters calculations based on the data. Refineries undergoing maintenance in June involved a total capacity of 107.7 million tons per year, down by 22.2 million tons from May, according to Chinese consultancy OilChem. The utilisation rate at independent refineries fell by 2 percentage points from May to 67.9%, while state-owned refineries' utilisation rose 5.3 points to 79.95% in June, data from consultancy Sublime China Information shows. State-owned refiners posted a profit of 1,121 yuan ($156.40) per ton in June, up 83% from May and up 155% from a year earlier, as crude input costs dropped by 306 yuan per ton while product prices rose, according to OilChem. Meanwhile, Shandong-based independent refiners earned an average profit of 355 yuan per ton from processing imported crude in June, down 6.2% month-on-month, as rising feedstock costs outpaced gains in product prices. JLC, another Chinese consultancy, projected that the average operating rate of state-owned refineries will reach around 83.5% in the third quarter, up 5.13 percentage points from the previous quarter and slightly higher than a year earlier. NBS data also showed that China's domestic crude oil production in June rose 1.4% from a year earlier to 18.2 million tons, or 4.43 million bpd. Crude output for the first half of the year rose 1.3% to 108.48 million tons, or 4.38 million bpd. Natural gas production increased 4.6% year on year to 21.2 billion cubic metres in June, with output in the first six months rising 5.8%, the data showed. (Metric ton = 7.3 barrels for crude oil conversion) ($1 = 7.17 Chinese yuan)
Yahoo
02-06-2025
- Business
- Yahoo
Jilin Chemical Fiber expands Jirecell, Reboocel production lines
The move is said to underscore Jilin Chemical Fiber's ongoing commitment to sustainable textile advancements in China's MMCF industry. The company will enhance the output of Jirecell, its viscose filament yarn, which is made of 70% FSC-certified wood and 30% recycled cotton Circulose pulp, targeting an annual production capacity of 10,000 tonnes (t). There is also potential to double this capacity with an additional 10,000t per year in the future. In addition, JLC is initiating commercial-scale manufacturing of Reboocel, a staple fibre produced using 70% FSC-certified bamboo and 30% post-consumer recycled bamboo sourced from discarded furniture. This product line aims for an annual production volume of 30,000t. JLC has expressed its goal to boost the recycled content in Jirecell to 50% by the year 2028. This objective aligns with broader industry efforts to diminish dependence on virgin fibre derived from forests. Since forming a partnership with Canopy in 2019, Jilin Chemical Fiber has received recognition for its environmental efforts, earning a Dark Green Shirt in the 2024 Hot Button Report for its forest sourcing practices and adoption of Next Gen Solutions. The report's findings indicate that the company poses a low risk for sourcing from ancient and endangered forests. Currently, Jilin Chemical Fiber upholds an annual production capacity of 210,000t. Canopy founder and executive director Nicole Rycroft said: "Scaling Next Gen MMCF is essential to making the viscose and filament supply chains more resilient and reducing pressure on the world's forests. "Jilin Chemical Fiber's latest Next Gen expansions are a positive signal of growing momentum within the sector. We look forward to continued progress in bringing circular, low-impact alternatives to market at the scale this moment demands." In April, Yibin Grace, a MMCF product maker and partner of Canopy, inaugurated a new recycling facility in China to transform textile waste into dissolving pulp. "Jilin Chemical Fiber expands Jirecell, Reboocel production lines" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Filipino Times
30-05-2025
- Filipino Times
DMW shuts down Japanese language center in Davao over illegal recruitment
The Department of Migrant Workers (DMW) has ordered the closure of another Japanese language center (JLC) in Davao City due to illegal recruitment activities. The center, Sincere Japanese Skills Academy, Inc., is the fourth JLC closed by the agency in just two weeks. An investigation revealed that Sincere was offering language training programs alongside promises of jobs in Japan. It was found to be working with unlicensed and unauthorized recruitment groups such as the fake Advanced Ability Association (AAA), as well as one licensed agency. According to testimonies from workers who sought help from the Migrant Workers Office (MWO) in Tokyo, they were charged between Php 3,000 to Php 50,000 for the training. They were also promised jobs as caregivers, food and beverage service crew, or airport ground staff after passing an exam. The closure was carried out under DMW Closure Order No. 14, Series of 2025. Sincere and its officials will be added to the DMW's List of Persons and Entities with a Derogatory Record. They are now facing charges related to illegal recruitment. The DMW is urging other possible victims to come forward and contact the Migrant Workers Protection Bureau through their official Facebook page to receive free legal help and support.
