Downstream news

Recent Wood Mackenzie’s analysis warns that European gas storage at a historically low level, combined with renewed Strait of Hormuz disruption, has driven spot prices more than 50% above their June lows and placed winter 2026/27 supply security at risk.

The Eastern Mediterranean Petrochemical Industrial Zone and Port, developed by Rönesans Holding in Ceyhan, Adana, Türkiye, has entered a new phase of development driven by new investments, ongoing infrastructure works, and growing international investor interest.

Asia continues to account for a major share of the global project pipeline, supported by ongoing investments in petrochemical plants, conventional refinery, transmission pipelines, and oil storage projects, GlobalData has reported.

Gulf crude exports fall 82% from January to June; Iraq, Kuwait and Qatar record zero exports as Strait of Hormuz remains severely constrained, Wood Mackenzie has reported.

Johnson Matthey Plc has announced the completion of its acquisition of CORMETECH Inc., following the satisfaction of customary closing conditions including all regulatory approvals.

The Middle East is poised to dominate global methanol capacity additions by 2030, driven primarily by its access to abundant and cheap natural gas, which is a primary feedstock for methanol production, GlobalData has reported.

Increased segmentation in Europe’s recycled low density polyethylene market has prompted ICIS to introduce a new flexible natural transparent rLDPE pellet price as part of its existing recycled polyethylene pricing service.

For the week ending 17 July 2026, commercial crude oil inventories (excluding the Strategic Petroleum Reserve) increased 2.0 million barrels to 411.7 million barrels, 6% below the previous five-year (2021 - 2025) average, the US EIA has reported.

Emerson has announced a new flameproof model for the Rosemount™ 965 Flame Detector, adding hazardous-location certification for applications where reliable hydrocarbon flame detection is required.

The Saudi Basic Industries Corp. have announced the signing of a Project Development Agreement with Rongsheng Petrochemical Co. Ltd. to jointly advance the development of the Jintang New Materials Project in Zhoushan, Zhejiang Province, China.