Petronas: PIC to come online as scheduled
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Malaysia’s Petronas is on track with its plans to complete two facilities at the company’s Pengerang Integrated Complex (PIC) in Pengerang, Johor.
PIC has reportedly achieved 77% completion and is poised for its start-up by the first quarter of 2019.
The company had previously launched two major facilities to provide gas and electricity for the refinery and petrochemical plants at the PIC project, namely Regasification Terminal 2 (RGT2) and Pengerang Co-generation Plant (PCP).
The company also stated that the project was not affected by volatile crude prices and the pricing issues regarding LNG.
The project, which is expected to generate RM8.3 billion ($1.95 billion) in gross national income by 2020, will reportedly increase the country’s refinery capacity by 300,000 b/d to 955,000 b/d.
PIC has reportedly achieved 77% completion and is poised for its start-up by the first quarter of 2019.
The company had previously launched two major facilities to provide gas and electricity for the refinery and petrochemical plants at the PIC project, namely Regasification Terminal 2 (RGT2) and Pengerang Co-generation Plant (PCP).
The company also stated that the project was not affected by volatile crude prices and the pricing issues regarding LNG.
The project, which is expected to generate RM8.3 billion ($1.95 billion) in gross national income by 2020, will reportedly increase the country’s refinery capacity by 300,000 b/d to 955,000 b/d.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Türkiye PVC outlook for 2025: Will poor margins and unstable demand break the cycle?
- Europe PP, PE outlook for 2025: Battle of margins amid supply surpluses and trade flow shifts
- Middle East PP, PE outlook for 2025: A double whammy of low demand and new capacity additions
- China, SE Asia PE outlook for 2025: Oversupply dilemma deepens with new capacity surge
- Freight rates outlook for 2025: Another rocky year ahead after 2024 turmoil
- Türkiye PP, PE outlook for 2025: Q1 set for a firm footing, eyes on derivatives for a whole year
- Europe PVC outlook for 2025: Supply imbalance threatens price recovery targets
- India PP, PE outlook for 2025: Players eye brighter Q1 despite current bearishness
- Different pricing policies emerge in Europe’s PS, ABS markets in Dec
- Bearishness persists across China, SEA import PE markets as year-end nears
