The upstream is unstable and the downstream is flustered.
CNOOC unexpectedly erupted into flames and 99 people were evacuated overnight!
The international crude oil market is tense, and the domestic crude oil market has also experienced surprises. According to the CNOOC announcement, on April 5, a fire accident occurred on the V platform of CNOOC’s Pengbo Operating Company (search is ongoing). The accident caused 3 people to go missing and 99 people to evacuate overnight. No leakage or environmental pollution was caused.
*Source: CNOOC official website
According to CNOOC, this accident will affect CNOOC’s production in 2021 by approximately 600,000 barrels, accounting for 0.1% of CNOOC’s annual production.
A deflagration fire occurred at Nanjing Yangzi Petrochemical Aromatics Plant
On the afternoon of April 9, Nanjing Yangzi A deflagration and fire broke out at the aromatics plant of Petrochemical Co., Ltd. A reporter from Modern Express learned that after the fire fighters arrived at the scene, the open fire was extinguished and there were no casualties. The cause of the fire is under investigation.
Staff near the scene of the incident posted on Weibo, “The company door was shaken open. The whole building was shaking. I thought there was an earthquake.” “I could feel the shock wave hitting the glass and the siren of the fire truck 1 kilometer away.”
That day At about 5 p.m., a reporter from Modern Express contacted a staff member of the Comprehensive Management Section of Nanjing Jiangbei New Materials Science and Technology Park. The staff member said that a deflagration did occur and that the relevant leaders of the park were dealing with it on site.
With the impact of market news, will raw materials trigger a price increase?
Although I came back from the Spring Festival holiday, the signal of “surge” has been lingering in the industry for a quarter. According to the current market situation, as the sound of speculation subsides , the market has returned to reason, and the general rise in polyester raw materials has caused great turmoil.
This week, the spot prices of PTA and ethylene glycol futures fluctuated slightly and rebounded. The current mainstream quotation of PTA is around 4470-4490 yuan/ton, and the mainstream price of ethylene glycol is around 4470-4490 yuan/ton. The price is quoted at 5250-5350 yuan/ton. There is still great uncertainty in international oil prices, risks have not yet been fully released, and the overall downstream textile market is generally in good condition.
With the influence of currency depletion, explosion attacks, environmental protection policies, etc., polyester raw materials have fluctuated slightly. Please pay attention to the price and buy it in time.
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