rongsheng petrochemical singapore private co ltd supplier

RONGSHENG PETROCHEMICAL (SINGAPORE) PTE. LTD. is a Singapore PRIVATE COMPANY LIMITED BY SHARES. The company was incorporated on 28 Jan 2015, which is 8.0 years ago. The address of the Business"s registered office is MARINA BAY FINANCIAL CENTRE, 12 MARINA BOULEVARD, #31-02, Postal 018982. The Business current operating status is Live Company. The Business"s principal activity is WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS N.E.C.. (eg GLOBAL TRADING OF GAS & OIL, REFINERY PRODUCTS AND PETROCHEMICAL.). The company"s paid-up capital is USD 96,000,000. It was named as ASIA RONGSHENG PTE. LTD.. The company UEN is 201502714M, registered with ACRA on 2015-02-03.

SINGAPORE (Reuters) - Private Chinese oil refiner and petrochemical manufacturers Hengli Petrochemical Corp and Rongsheng Petrochemical Corp have each hired a new executive for its Singapore trading desk, company officials said on Wednesday.

Hengli Petrochemical International Pte Ltd, the trading unit for Hengli Petrochemical Co. Ltd, hired James Zhang, formerly Head of Energy, Asia, at ICBC Standard Bank, as its deputy president to drive the company’s strategy and its day-to-day operations, a company spokesman said.

Separately, Zhu Yanyu, previously a veteran oil products trading manager at state-owned oil and gas company PetroChina, started in June at Rongsheng Petrochemical (Singapore) Pte Ltd as a deputy general manager in charge of refined products trading, said two company officials.

The Singapore operation is the international trading unit for Rongsheng Petrochemical Corp, which is a key stakeholder in Zhejiang Petrochemical Corp (ZPC), one of China’s largest private refiners which operates a 400,000 barrels per day refinery in east China’s Zhoushan.

ZPC became the first private Chinese refiner to win Chinese government quotas to export low-sulphur marine fuel in April, and in July the firm was granted a license to export other refined products.

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MOSCOW (MRC) -- Crude oil futures were stable in mid-morning trade in Asia on August 21 as planned compensation cuts by the OPEC+ coalition offset a bearish US jobs report amid worries of a slowing economic recovery, reported S&P Global.

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.

The global crude complex was rangebound last week as a drawdown in US commercial crude and gasoline inventories was offset by a decline in total products supplied, US Energy Information Administration data released Aug. 19 showed.

Meanwhile, the headline OPEC+ Joint Ministerial Monitoring Committee meeting Aug. 19 proved to be supportive for prices as the coalition continued to put a strong focus on compliance and compensation cuts.

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.

These factors combined allowed Brent crude futures to continue to trade in a tight range around the USD45/b level, while NYMEX WTI stayed slightly below USD43/b.

Global COVID-19 case counts stood at 22,539,975, while total daily infections worldwide shot back up to 273,374 cases, slightly lower than the record of 304,449 cases set on Aug. 14, latest data from John Hopkins University showed.

"On the health front, there is no question that traders are still peering into a cloudy view-finder as even with new COVID-19 cases declining across the US, we know that can change on a dime as evidenced by recent second wave breakouts around the world. And it is going to take some time for people to feel safe to move freely and possibly only when a vaccine is in hand," Innes added.

As MRC wrote before, US crude oil stockpiles fell in the second week of August even as net imports jumped sharply, while fuel demand dipped as well, according to the US Energy Information Administration"s statement. Crude inventories fell by 1.6 million barrels in the week to Aug. 14 to 512.5 million barrels, less than analysts’ expectations in a Reuters poll for a 2.7 million-barrel drop. Net US crude imports rose by 1.1 million barrels per day to 3.6 MMbpd, the EIA said.

Earlier this year, BP said the deadly coronavirus outbreak could cutglobal oil demand growth by 40 per cent in 2020, putting pressure on Opec producers and Russia to curb supplies to keep prices in check.

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.

According to MRC"s DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

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