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[Latest] Global Propylene Oxide Market Size/Share Worth USD 32.07 Billion by 2034 at a 5.24% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT Analysis)
[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Propylene Oxide Market size & share revenue was valued at approximately USD 19.24 Billion in 2024 and is expected to reach USD 20.25 Billion in 2025 and is expected to reach around USD 32.07 Billion by 2034, at a CAGR of 5.24% between 2025 and 2034. The key market players listed in the report with their sales, revenues and strategies are Dow, LyondellBasell, BASF, Shell, Huntsman Corporation, SKC Co. Ltd., AGC Inc., Sumitomo Chemical Co. Ltd., Repsol, Tokuyama Corporation, China Petrochemical Corporation (Sinopec), China National Petroleum Corporation (CNPC), Manali Petrochemicals Limited, Kumho P&B Chemicals, Zibo Qixiang Tengda Chemical Co. Ltd., Jiangsu Shuangliang Eco-Energy Systems, DowDuPont, INEOS Oxide, Eastman Chemical Company, SABIC and Others. Austin, TX, USA, July 21, 2025 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled 'Propylene Oxide Market Size, Trends and Insights By Production Method (Propylene Oxidation, Chlorohydrin Process), By Application (Polyether Polyols, Propylene Glycol, Glycol Ethers, Specialty Surfactants, Others), By End User (Automotive, Construction, Packaging, Furniture and Bedding, Electronics, Pharmaceuticals, Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' in its research database.'According to the latest research study, the demand of the global Propylene Oxide Market size & share was valued at approximately USD 19.24 Billion in 2024 and is expected to reach USD 20.25 Billion in 2025 and is expected to reach a value of around USD 32.07 Billion by 2034, at a compound annual growth rate (CAGR) of about 5.24% during the forecast period 2025 to 2034.' Click Here to Access a Free Sample Report of the Global Propylene Oxide Market @ Overview According to market analysts at CMI, the PO market has its growth driven largely due to its importance in polyurethane production and wider industrial needs being generated in parallel with applications. On the one hand, construction, automotive, and other sectors being on an upswing create demand for lightweight and protective materials, adversely affecting PO's relevance. On the other hand, there is renewed consciousness on sustainability and pollution control, which is putting more focus on clean technologies, HPPO being one among them. Key Trends & Drivers Growth of Production Technologies: Advanced development in manufacturing technologies, chiefly in chlorohydrin and propylene oxidation methods, has been propelling the propylene oxide (PO) market. Old methods, such as the chlorohydrin route, do lead to some toxic wastes; however, in the recent past, there have been various process-related advancements for safety in operating conditions, performance of catalysts, and energy efficiencies. One of the breakthroughs is the HPPO (hydrogen peroxide to propylene oxide) process, in which propylene is cleanly converted with hydrogen peroxide, and water is the only by-product. This reduces the environmental footprint while also cutting operational expenses and keeping plant infrastructure simple. As a result, many producers across the globe are shifting toward HPPO in their new or upgraded units, and this is shaping the future growth of propylene oxide in an industrial landscape that is slowly drifting towards sustainability. Rising Demand for Polyurethane-Based Solutions: The Main factor driving propylene oxide demand is the growing use of polyurethane (PU) foams. PO is the raw material used in producing polyether polyols, which are further used in the production of rigid and flexible polyurethane foams. The rigid and flexible polyurethane foams are widely used in construction, furniture-making, packaging, refrigeration, and automotive interior industries. Rigid PU foams are very much valued for their insulating thermal property and thus are very crucial for applications like energy-efficient buildings and appliances. Flexible PU foams provide comfort to applications such as bedding, furniture, and car seats. On the other hand, PO-derived materials will continue growing steadily in demand, amplified by consumer expectations for energy savings, durability, and comfort, especially in many developing nations with fast-paced urbanization. The growing application of polyurethanes and the growing need for sustainability only further bolster PO in the value chain. Request a Customized Copy of the Propylene Oxide Market Report @ Advancements in the Automotive & Construction Sector: The automotive and construction industries are increasingly depending on some advanced materials made out of propylene oxide derivatives. In the automotive industry, strict fuel efficiency and emission standards are enforced to popularize lightweight materials such as polyurethane foams and composites, which reduce the overall weight of vehicles without any compromise on safety or performance. The increased use of electric vehicles (EVs) is also benefiting new applications for PO-based materials for thermal management and acoustic insulation. In construction, the enhanced building codes have put a higher focus on insulation materials such as rigid polyurethane foams. Other than foams, PO is also a feedstock for surfactants, glycol ethers, and deicing fluids utilized at industrial, commercial, and municipal levels. This diversification across the two largest global sectors supports market resiliency and opens new avenues for growth for PO producers. Environmental & Regulatory Emphasis: Environmental considerations and regulatory developments are changing the dynamics of the PO market. The traditional chlorohydrin process, from an environmental standpoint, presents problems: large quantities of wastewater are produced, and hazardous by-products such as calcium chloride are generated. Since then, regions from the developed world have enhanced environmental regulations and are now incentivizing green tech adoption. The HPPO version with higher yields and lower waste and water and energy use is fast catching up as the favored alternative. Regulatory frameworks like the EU's REACH and the U.S.'s Toxic Substances Control Act (TSCA) accelerated pushes for all manufacturers to upgrade production facilities to safer handling of chemicals. Even though these regulatory changes offer cost and compliance challenges to certain players, they present huge opportunities for the players who are willing to invest in sustainable and efficient technologies for PO production, hence supporting long-term viability for the industry. Report Scope Feature of the Report Details Market Size in 2025 USD 20.25 Billion Projected Market Size in 2034 USD 32.07 Billion Market Size in 2024 USD 19.24 Billion CAGR Growth Rate 5.24% CAGR Base Year 2024 Forecast Period 2025-2034 Key Segment By Production Method, Application, End User and Region Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America Buying Options Request tailored purchasing options to fulfil your requirements for research. (A free sample of the Propylene Oxide report is available upon request; please contact us for more information.) Our Free Sample Report Consists of the following: Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report. The COVID-19 Pandemic Outbreak Impact Analysis is included in the package. About 220+ Pages Research Report (Including Recent Research) Provide detailed chapter-by-chapter guidance on the Request. Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2025 Includes Tables and figures have been updated. The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis Custom Market Insights (CMI) research methodology (Please note that the sample of the Propylene Oxide report has been modified to include the COVID-19 impact study prior to delivery.) Request a Customized Copy of the Propylene Oxide Market Report @ SWOT Analysis Strengths: The versatility of propylene oxide (PO) and its applications in different end-user sectors, such as automotive, construction, packaging, and personal care, act as important demand drivers. PO is an intermediate that is used for making polyether polyols and propylene glycol and glycol ethers, which find applications in the manufacture of polyurethane foams, deicing fluids, and solvents, respectively. Such diversified applications keep the demand for propylene oxide in place. The market benefits further with advances in technology, especially with the advent of the HPPO (hydrogen peroxide to propylene oxide) process, as this makes the process efficient and socially acceptable. Large producers like Dow, LyondellBasell, and Shell, undertaking highly vertically integrated operations, allow the producers greater control over feedstock supply, product development, and marketing. Weaknesses: In spite of its strengths, the PO market is faced with various weaknesses. The manufacturing of propylene oxide by conventional methods, such as chlorohydrin, involves hazardous chemicals and creates a lot of waste, which translates into high environmental compliance costs associated with the process. These methods are increasingly coming under strong environmental regulations and, hence, could increase the operating cost or force the plant to shut down. Secondly, it is a capital-intensive market that requires huge capital investment in building plant facilities and upgrading to the latest technology. Hence, smaller firms have tough competition from larger integrated players due to entry barriers, complex technology, and being highly dependent on the price fluctuations of raw materials from petroleum. Opportunities: The market proposes several options for growth, in particular, the development of green technologies and the increased use of such technologies, with the HPPO process gaining ground due to being environmentally friendly and lowering operational costs. Further, the growth of downstream sectors in construction, automotive, and personal care, especially within the emerging markets, opens new channels for the penetration of this market. A rising preference for lightweight materials and efficient insulation products would stimulate gains in polyurethane applications and, thus, put pressure on PO consumption. There are also opportunities in specialty chemicals and derivatives, including high-purity glycols and surfactants for use in cosmetics and pharmaceuticals, with better profits and niche segments for growth. Threats: Several external threats can put the growth trajectory of the PO market at risk. Increasing environmental regulations, especially in the developed economies, are a threat to the older production units, which may not meet the standards for emission and waste management of the new times. Non-compliance can attract fines, closure of plants, or forced investment in retrofits. Moreover, fluctuations in the prices of crude oil and natural gas, impacting the cost of propylene (being the major feedstock), pose risks to the market. Rising competition from alternative materials and green chemistry processes that are likely to replace a few of the PO-derived products also threatens the market. Public and regulatory opposition to petrochemical-based products could further curtail market expansion, especially in markets that are mindful of the environment. Request a Customized Copy of the Propylene Oxide Market Report @ Key questions answered in this report: What is the size of the Propylene Oxide market and what is its expected growth rate? What are the primary driving factors that push the Propylene Oxide market forward? What are the Propylene Oxide Industry's top companies? What are the different categories that the Propylene Oxide Market caters to? What will be the fastest-growing segment or region? In the value chain, what role do essential players play? What is the procedure for getting a free copy of the Propylene Oxide market sample report and company profiles? Key Offerings: Market Share, Size & Forecast by Revenue | 2025−2034 Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions Competitive Landscape – Top Key Vendors and Other Prominent Vendors Buy this Premium Propylene Oxide Research Report | Fast Delivery Available - [220+ Pages] @ Regional Analysis The Propylene Oxide Market is divided into various regions, such as North America, Europe, Asia-Pacific, and LAMEA. Each region is described briefly below: North America: North America is the most mature and highly technically advanced with respect to propylene oxide production and consumption. The region enjoys well-established petrochemical infrastructure and strong demand from key downstream sectors such as automotive, construction, packaging, and personal care. In particular, LyondellBasell opened the largest facility for PO and TBA ever constructed in Texas in 2023. This expansion showcases the region's intent on sustaining modern, energy-efficient technologies such as HPPO. Due to shale gas development, North America enjoys an abundance of feedstock availability within its premises, thus creating cost-competitive conditions for PO manufacture. Robust growth in polyurethane foam, propylene glycol, and specialty surfactants inherently supports demand. The regional regulatory push for sustainable and high-performance materials is also acting as an enabler for the shift toward greener production technologies and R&D investments in PO derivatives. So, growth is expected to remain steady in the future on the grounds of continued downstream demand coupled with supply chain localization strategies. Europe: Europe boasts the most regulated and sustainability-oriented chemical industry. The region places a strong emphasis on reducing emissions, increasing energy efficiency, and adopting green chemistry principles that have influenced the production methods for propylene oxide. Several prominent countries have advanced petrochemical hubs integrated with PO and polyether polyol production, among which Germany, Belgium, and the Netherlands stand out. Big companies such as Dow Chemical and Shell have begun greener production of PO using Cumene and HPPO technologies. Energy efficiency regulations, rigid foam insulation and construction, automotive lightweighting materials, and the consumer care industries dictate use in Europe. EU-sponsored sustainability programs and green transition initiatives have also prompted the modernization of aging chlorohydrin-based plants. High environmental regulations and energy costs restrain competitiveness. Europe is expected to continue to be the technologically advanced and innovation-driven PO market, especially with the increased application of bio-based feedstocks and recycled materials in downstream production. Asia-Pacific: The Asia-Pacific region is the fastest-growing PO market by virtue of rapid industrialization, an ever-increasing middle class, and rising demand for consumer goods. Countries including China, India, South Korea, and Japan have pushed PO and its derivatives to become big producers and consumers in the region. China is leading in capacity additions, technological partnerships, and application development at the downstream level, specifically for polyurethanes, automotive packaging, and construction. The region's demand for insulation materials, flexible foams, and glycol ethers is driving significant growth in PO consumption. Furthermore, China's higher emphasis on petrochemical self-reliance has given way to a number of large-scale PO plants of state-of-the-art HPPO technology, with CSPC, Shell, and Sumitomo Chemical making recent investments. Government initiatives and urbanization in India are driving a rising demand in the automotive and housing sectors. The cost advantage and growing regional demand are causing Thailand, Indonesia, and Malaysia to emerge as downstream hubs. Environmental regulations and feedstock volatility pose significant challenges. Still, efficient manufacturing and huge local demand make this region a knockout growth center for the PO market. LAMEA (Latin America, Middle East, and Africa): LAMEA (Latin America, Middle East, and Africa): The LAMEA region is emerging and gaining increased importance in propylene oxide market development. Latin America shows promise for demand growth for polyurethane foams used for bedding, furniture, and refrigeration, especially in countries such as Brazil and Mexico, where industrialization continues to gather pace. However, minimal local PO production has always made the region a net importer for various needs, leading to supply disruptions and a lot of price volatility. This scenario is slowly changing, given the increased investments undertaken in refinery and petrochemical infrastructures and numerous joint ventures in the region. In the Middle East, Iran, Saudi Arabia, and the UAE are investing strategically in PO derivatives as part of their economic diversification away from crude oil and toward value-added downstream petrochemicals. New plants like the Saudi Petrochemical complex, which uses EO/PO feedstocks for producing industrial additives and oilfield chemicals, fortify the local capability. Cheap feedstocks and government incentives also position this region to become a competitive exporter in the future. The African PO market is still very young, with limited production capacities and meager per capita consumption. There exist, however, long-term opportunities in the increasing demand for healthcare, consumer goods, and urban infrastructure, given that regional supply chains and the manufacturing ecosystem can be enhanced. Request a Customized Copy of the Propylene Oxide Market Report @ (We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.) Still, Looking for More Information? Do OR Want Data for Inclusion in magazines, case studies, research papers, or Media? Email Directly Here with Detail Information: support@ Browse the full 'Propylene Oxide Market Size, Trends and Insights By Production Method (Propylene Oxidation, Chlorohydrin Process), By Application (Polyether Polyols, Propylene Glycol, Glycol Ethers, Specialty Surfactants, Others), By End User (Automotive, Construction, Packaging, Furniture and Bedding, Electronics, Pharmaceuticals, Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' Report at of the prominent players in the Propylene Oxide Market: Dow LyondellBasell BASF Shell Huntsman Corporation SKC Co. Ltd. AGC Inc. Sumitomo Chemical Co. Ltd. Repsol Tokuyama Corporation China Petrochemical Corporation (Sinopec) China National Petroleum Corporation (CNPC) Manali Petrochemicals Limited Kumho P&B Chemicals Zibo Qixiang Tengda Chemical Co. Ltd. Jiangsu Shuangliang Eco-Energy Systems Co. Ltd. DowDuPont INEOS Oxide Eastman Chemical Company SABIC Others Click Here to Access a Free Sample Report of the Global Propylene Oxide Market @ Spectacular Deals Comprehensive coverage Maximum number of market tables and figures The subscription-based option is offered. Best price guarantee Free 35% or 60 hours of customization. Free post-sale service assistance. 25% discount on your next purchase. Service guarantees are available. Personalized market brief by author. Browse More Related Reports: Polypropylene Glycol Market: Polypropylene Glycol Market Size, Trends and Insights By Grade (Industrial Grade, Pharmaceutical Grade, Food Grade), By Application (Polyurethane Production, Cosmetics & Personal Care, Pharmaceuticals, Lubricants & Hydraulic Fluids, Adhesives & Sealants, Food & Beverage), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Propylene Glycol Market: Propylene Glycol Market Size, Trends and Insights By Source (Petroleum-based, Bio-based), By Grade (Industrial Grade, Pharmaceutical Grade, Others), By End-Use Industry (Transportation, Building & construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Naphthalene Derivative Market: Naphthalene Derivative Market Size, Trends and Insights By Source (Coal Tar, Petroleum, Other), By Form (Liquid, Powder), By Derivative (Phthalic Anhydride, Naphthalene Sulfonic Acid, Naphthols, Sulfonated Naphthalene Formaldehyde, Alkyl Naphthalene Sulfonate Salts, Others), By End User (Textile, Oil & Gas, Paints & Coatings, Pulp & Paper, Construction, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Paint Protection Films Market: Paint Protection Films Market Size, Trends and Insights By Material Type (TPU, PVC, Others), By Finish Type (Gloss, Matte, Others), By Application (Automotive, Electronics & Communication, Building & Construction, Aerospace & defense, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025 – 2034 North America Molded Plastics Market: North America Molded Plastics Market Size, Trends and Insights By Type (PE, PP, PVC, PET, PS, PU), By Application (Packaging, Automotive & Transportation, Construction & Infrastructure, Electronics & Electrical, Pharmaceutical, Agriculture), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 Saudi Arabia Structural Steel Market: Saudi Arabia Structural Steel Market Size, Trends and Insights By Product Type (H-Type Beams, I-Type Beams, Columns, Angles), By End-User Industry (Residential, Commercial, Industrial, Institutional), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 US Masterbatch Market: US Masterbatch Market Size, Trends and Insights By Type (White, Black, Color, Additive, Others), By End Use Industry (Packaging, Consumer Goods, Building & Construction, Agriculture, Automotive, Others), By Polymer (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Others), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034 US Industrial Lubricants Market: US Industrial Lubricants Market Size, Trends and Insights By Application (Metalworking Fluids, Hydraulic Fluids, Gear Oils, Compressor Oils, Greases, Engine Oils), By Product Type (Synthetic Lubricants, Mineral-Based Lubricants, Bio-Based Lubricants), By End User (Manufacturing, Automotive, Construction, Mining, Power Generation, Marine), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033 The Propylene Oxide Market is segmented as follows: By Production Method Propylene Oxidation Chlorohydrin Process By Application Polyether Polyols Propylene Glycol Glycol Ethers Specialty Surfactants Others By End User Automotive Construction Packaging Furniture and Bedding Electronics Pharmaceuticals Personal Care Others Click Here to Get a Free Sample Report of the Global Propylene Oxide Market @ Regional Coverage: North America U.S. Canada Mexico Rest of North America Europe Germany France U.K. Russia Italy Spain Netherlands Rest of Europe Asia Pacific China Japan India New Zealand Australia South Korea Taiwan Rest of Asia Pacific The Middle East & Africa Saudi Arabia UAE Egypt Kuwait South Africa Rest of the Middle East & Africa Latin America Brazil Argentina Rest of Latin America This Propylene Oxide Market Research/Analysis Report Contains Answers to the following Questions. Which Trends Are Causing These Developments? Who Are the Global Key Players in This Propylene Oxide Market? What are Their Company Profile, Product Information, and Contact Information? What Was the Global Market Status of the Propylene Oxide Market? What Was the Capacity, Production Value, Cost and PROFIT of the Propylene Oxide Market? What Is the Current Market Status of the Propylene Oxide Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Propylene Oxide Market by Considering Applications and Types? What Are Projections of the Global Propylene Oxide Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports? What Is Propylene Oxide Market Chain Analysis by Upstream Raw Materials and Downstream Industry? What Is the Economic Impact On Propylene Oxide Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends? What Are Market Dynamics of Propylene Oxide Market? What Are Challenges and Opportunities? What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Propylene Oxide Industry? Click Here to Access a Free Sample Report of the Global Propylene Oxide Market @ Reasons to Purchase Propylene Oxide Market Report Propylene Oxide Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors. Propylene Oxide Market report outlines market value (USD) data for each segment and sub-segment. This report indicates the region and segment expected to witness the fastest growth and dominate the market. Propylene Oxide Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region. The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled. Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players. The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions. Propylene Oxide Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain. Reasons for the Research Report The study provides a thorough overview of the global Propylene Oxide market. Compare your performance to that of the market as a whole. Aim to maintain competitiveness while innovations from established key players fuel market growth. Buy this Premium Propylene Oxide Research Report | Fast Delivery Available - [220+ Pages] @ What does the report include? Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Propylene Oxide market analysis. The competitive environment of current and potential participants in the Propylene Oxide market is covered in the report, as well as those companies' strategic product development ambitions. According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions. For each segment mentioned above, actual market sizes and forecasts have been given. Who should buy this report? Participants and stakeholders worldwide Propylene Oxide market should find this report useful. The research will be useful to all market participants in the Propylene Oxide industry. Managers in the Propylene Oxide sector are interested in publishing up-to-date and projected data about the worldwide Propylene Oxide market. Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Propylene Oxide products' market trends. Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. Request a Customized Copy of the Propylene Oxide Market Report @ About Custom Market Insights: Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains. CMI provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey. 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Zawya
a day ago
- Business
- Zawya
Algeria inks oil deal with China's Sinopec
Algeria's state oil operator Sonatrach has signed a framework agreement with China's Sinopec for the development of its hydrocarbon resources. Sonatrach said the head of agreement is intended to outline the 'framework of cooperation' between the two sides to conclude hydrocarbon accords. The planned deals will cover interests located in the basins of Gourara in Southwest Algeria and East Berkine in the Northeast. 'They will also ultimately assess and develop hydrocarbon resources in the relevant zones,' Sonatrach said in a statement. 'As part of this Head Of Agreement, the parties will notably, discuss over the work programme, in order to agree on the evaluation and exploitation of these resources, by integrating the best practices for the preservation of the environment and a responsible exploitation of natural resources,' it added. Sonatrach, one of the world's largest gas exporters, said the new deal reflects the willingness of both sides to bolster their existing relationship and expand cooperation through new partnership opportunities in hydrocarbons exploration and development. It noted that Sinopec's presence in Algeria dates back to 2002 and the company operates with Sonatrach the Zarzaïtine field under the framework of a contract of association focusing on hydrocarbon recovery and development of this field. Sinopec is also Sonatrach' partner under the hydrocarbon's agreement signed on 25 February for exploration and development of the Hassi Berkane perimeter. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
4 days ago
- Business
- Zawya
Kazakhstan CPC Blend oil heads to Asia as European demand eases, sources say
SINGAPORE - Asian refiners are buying more Kazakhstan CPC Blend crude loading in August than July after falling European demand depressed prices, traders said, likely capping Asia demand for similar light-sour grades such as Abu Dhabi's Murban. Softening demand from refiners in the Mediterranean for CPC Blend crude loading in the second-half of August widened discounts for the crude by about $1 a barrel from the previous month, a London-based trader said, creating opportunity for traders to cash in on the difference. Prices for CPC crude for delivery to North Asia are about $3.50 to just below $4 a barrel above September Dubai quotes, the sources said. This is below the cost for Murban at roughly $4.70 a barrel to Dubai quotes on a cost and freight basis (C&F), they added. Murban, which flows mostly to Asia, is supported by lower exports as Abu Dhabi National Oil Co is diverting supplies to its domestic refinery. Unipec, the trading arm of Asia's largest refiner Sinopec , South Korea's top two refiners SK Energy and GS Energy, and India's Reliance Industries have bought at least 1 million barrels of CPC Blend crude each, the sources said. The companies did not immediately respond to requests for comment. A narrowing of Brent's premium to Middle East benchmark Dubai has also made Atlantic Basin grades more affordable for Asian buyers. The Brent-Dubai Exchange of Futures for Swaps fell below $1.60 a barrel this week, on Thursday's close, levels not seen since May, LSEG data showed. June Goh, a senior analyst at Sparta Commodities, said an uptick in freight rates for Very Large Crude Carriers on the Middle East to China route has also increased costs for Gulf crudes versus arbitrage supplies from Kazakhstan, the U.S. and Brazil. "We anticipate further correction of the spot AG (Arabian Gulf) market is required to stave off competition of the arb crudes," she added. Meanwhile, traders are also seeking opportunities to ship U.S. West Texas Intermediate crude to Asia after premiums for WTI at East Houston , also known as MEH, fell to their lowest in more than two weeks. Offers for WTI crude deliveries to North Asia are about $5 a barrel above September Dubai quotes, slightly higher than Murban, traders said. (Reporting by Florence Tan and Siyi Liu in Singapore, Arathy Somasekhar in Houston; Editing by Sharon Singleton)
Reuters
4 days ago
- Business
- Reuters
Kazakhstan CPC Blend oil heads to Asia as European demand eases, sources say
SINGAPORE, July 18 (Reuters) - Asian refiners are buying more Kazakhstan CPC Blend crude loading in August than July after falling European demand depressed prices, traders said, likely capping Asia demand for similar light-sour grades such as Abu Dhabi's Murban. Softening demand from refiners in the Mediterranean for CPC Blend crude loading in the second-half of August widened discounts for the crude by about $1 a barrel from the previous month, a London-based trader said, creating opportunity for traders to cash in on the difference. Prices for CPC crude for delivery to North Asia are about $3.50 to just below $4 a barrel above September Dubai quotes, the sources said. This is below the cost for Murban at roughly $4.70 a barrel to Dubai quotes on a cost and freight basis (C&F), they added. Murban, which flows mostly to Asia, is supported by lower exports as Abu Dhabi National Oil Co is diverting supplies to its domestic refinery. Unipec, the trading arm of Asia's largest refiner Sinopec ( opens new tab, South Korea's top two refiners SK Energy and GS Energy, and India's Reliance Industries ( opens new tab have bought at least 1 million barrels of CPC Blend crude each, the sources said. The companies did not immediately respond to requests for comment. A narrowing of Brent's premium to Middle East benchmark Dubai has also made Atlantic Basin grades more affordable for Asian buyers. The Brent-Dubai Exchange of Futures for Swaps fell below $1.60 a barrel this week, on Thursday's close, levels not seen since May, LSEG data showed. June Goh, a senior analyst at Sparta Commodities, said an uptick in freight rates for Very Large Crude Carriers on the Middle East to China route has also increased costs for Gulf crudes versus arbitrage supplies from Kazakhstan, the U.S. and Brazil. "We anticipate further correction of the spot AG (Arabian Gulf) market is required to stave off competition of the arb crudes," she added. Meanwhile, traders are also seeking opportunities to ship U.S. West Texas Intermediate crude to Asia after premiums for WTI at East Houston , also known as MEH, fell to their lowest in more than two weeks. Offers for WTI crude deliveries to North Asia are about $5 a barrel above September Dubai quotes, slightly higher than Murban, traders said.
Time of India
15-07-2025
- Business
- Time of India
China state refiners ramp up output on rising demand, stock rebuild
Chinese state-owned refiners are ramping up output after completing maintenance to meet higher third-quarter fuel demand and to rebuild diesel and gasoline stocks which are at multi-year lows, traders and analysts said. The increase in crude processing rates , expected to last through the third quarter, will drive up imports by the world's largest oil importer, although slowing gasoline and diesel consumption is expected to keep a lid on overall demand. Operating rates at state refineries surpassed 80 per cent in the last week of June, up from about 73 per cent a month earlier, the highest for the period in five years, data from consultancy Oilchem showed, as several Sinopec refineries returned to operation from maintenance in the second quarter. China's overall refining throughput was 15.15 million barrels per day in June, the highest since September 2023, according to Reuters calculations based on official data released on Tuesday. The sharp ramp-up in state refinery operations was driven by low product stocks after two months of heavy maintenance in April and May that supported product profit margins, said Ye Lin, a vice president at Rystad Energy. "Demand for jet fuel and petrochemical feedstocks is growing healthily in China, driving more supply from the state-owned refineries ," she added. Refined products output from state refiners Sinopec, PetroChina , CNOOC and Sinochem will exceed 10 million bpd in July, 100,000-110,000 bpd higher than June, according to consultancies FGE and JLC. FGE expects their output to hit 10.4 million bpd in July and August. JPMorgan analysts forecast China's refinery runs to increase year-on-year for the third and fourth quarters, following consecutive annual declines in the previous five quarters. Rising state refinery output pushed up diesel and gasoline stocks in the first two weeks of July, but at 14 million and 11 million metric tons, respectively, inventories are at six-year lows, Oilchem data showed. Official data showed China's January-May diesel and gasoline production fell 7 per cent annually. That is partly because independent refineries, known as teapots, have been operating at just 40 per cent to 50 per cent of their capacity this year due to poor margins, and as U.S. sanctions made it harder for some to buy cheap Iranian oil, industry sources said. Demand China's oil demand will rise seasonally into September but will be restrained by the country's prolonged property sector downturn, trade tariffs and rising sales of electric cars and trucks, the sources and analysts said. Barclays estimates that China's oil demand grew about 330,000 bpd year-on-year in the first half this year, while full-year growth will ease to 150,000 bpd. For July, China's gasoline consumption has firmed due to the summer travel season, but diesel demand remains weak as extreme weather, such as heatwaves and floods, has delayed construction projects in some regions, sources and analysts said. Rystad's Ye expects teapots to increase runs in August to meet higher fuel demand in September. Diesel and gasoline make up more than 40 per cent of China's oil demand.
