rongsheng petrochemical singapore pte ltd price

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RONGSHENG PETROCHEMICAL CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of chemicals and chemical fibers. The Company’s main products include aromatics, phosphotungstic acid (PTA), polyethylene terephthalate (PET) chips, terylene pre-oriented yarns (POYs), terylene fully drawn yarns (FDYs) and terylene draw textured yarns (DTYs), among others. The Company distributes its products in domestic market and to overseas markets.

Rongsheng Petro Chemical Co, Ltd. specialises in the production and marketing of petrochemical and chemical fibres. Products include PTA yarns, fully drawn polyester yarns (FDY), pre-oriented polyester yarns (POY), polyester textured drawn yarns (DTY), polyester filaments and polyethylene terephthalate (PET) slivers.

Rongsheng Petrochemical Co., Ltd. produces, markets, and sells petrochemicals, chemical fibers, and other related products. It offers synthetic fibers and films; olefins and downstream; aromatics and downstream; gasoline, diesel, and kerosene; purified terephthalic acid; polyester chips; polyester bottle flakes; polyester pre-oriented yarns; polyester fully drawn yarns; and polyester textured yarns. The company also provides polystyrene resin, ABS resin, SAN resin, styrene butadiene rubber, ion exchange resin, unsaturated resin, styrene thermoplastic elastomer, methyl methacrylate, and purified terephthalic acids; synthetic resins, such as low density polyethylene, linear low density polyethylene, high density polyethylene, and polypropylene; and polycarbonate, xylene, ethylene, methyl methacrylate, bisphenol A, and acrylonitrile. The company was formerly known as Rongsheng Chemical Fiber Group Co., Ltd. and changed its name to Rongsheng Petrochemical Co., Ltd. in September 2007. The company was founded in 1995 and is based in Hangzhou, China. Rongsheng Petrochemical Co., Ltd. is a subsidiary of Zhejiang Rongsheng Holding Group Co., Ltd. Address: Rongsheng Holding Group Buildin, Hangzhou, China

At 10:37 am Singapore time (0237 GMT), the ICE Brent October crude futures were up 16 cents/b (0.36%) from the Aug. 20 settle at SUD45.07/b, while the new front-month NYMEX October light sweet crude contract was up by 9 cents/b (0.21%) at USD42.91/b.

OPEC+ members that had exceeded their production quotas in May, June and July will have to cut a combined extra 2.31 million b/d as compensation by the end of September, S&P Global Platts reported earlier. Notably, Iraq and Nigeria were the two biggest laggards, overproducing by 851,000 b/d over the three months, while Nigeria was over its limit by 315,000 b/d.

"Industry reports estimate that approximately 1.2 million b/d of additional cuts through August and September are needed to offset oversupply to date, implying OPEC+ cuts fall to 8.9 million b/d in the current phase instead of the 7.7 million b/d target," Stephen Innes, chief global markets strategist at AxiCorp, said in a Aug. 21 note.

And in September 2019, six world"s major petrochemical companies in Flanders, Belgium, North Rhine-Westphalia, Germany, and the Netherlands (Trilateral Region) announcedthe creation of a consortium to jointly investigate how naphtha or gas steam crackers could be operated using renewable electricity instead of fossil fuels. The Cracker of the Future consortium, which includes BASF, Borealis, BP, LyondellBasell, SABIC and Total, aims to produce base chemicals while also significantly reducing carbon emissions. The companies agreed to invest in R&D and knowledge sharing as they assess the possibility of transitioning their base chemical production to renewable electricity.