India's Reliance becomes top importer of US ethane in 2017
According to the company statement, Reliance is planning to import around 1.6 million tons of ethane from the US in the current fiscal year to replace natural gas and naphtha as a feedstock at its petrochemical plants. The company expects to increase its operating profit and naphtha exports as ethane is cheaper when compared to other feedstocks.
Reliance expects to add $300 million to its operating profit of the petrochemicals business for this year by using ethane while the company’s total naphtha exports are expected to rise by 500,000 tons/year.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PVC snaps an 8-month downtrend, players remain skeptical in Turkey
- China boosts polymer imports from US again despite shrinking overall imports in 2022
- Asian PVC prices cautiously rebound from more than 2-year lows
- Freight rates near pre-Covid levels as pace of normalization accelerates
- Bleak outlook for Q1 keeps European PP, PE buyers sidelined
- PLAST EURASIA 2022: Eyes on Russian and US supplies with demand woes in focus
- December PE offers to SE Asia imply further drops, yet to respond to China
- Has the bear market for Asian PVC almost run its course?
- Demand outlook for crude oil dims amid China worries
- Asian styrene prices rebound from almost two-year lows