Market Flash

At the Gastech 2025 forum in Milan, Turkey’s state-owned BOTAS signed multiple agreements to diversify its LNG supply sources.

On September 10, Mitsui Chemicals, Idemitsu Kosan, and Sumitomo Chemical announced a memorandum of understanding to integrate their polyolefins operations under Prime Polymer Co., Ltd.

NextDecade Corporation has approved the final investment decision (FID) for Train 4 at its Rio Grande LNG project in Texas, with an expected capacity of 6 Mtpa.

Mitsui Chemicals, Idemitsu Kosan, and Sumitomo Chemical have recently signed a memorandum of understanding to merge parts of their plastics operations, aiming to regain competitiveness in a sluggish global market.

• Mitsui chemicals
• Idemitsu Kosan
• Sumitomo Chemical

China’s producer price index (PPI) snapped an eight-month losing streak in August 2025, with month-on-month growth holding flat after July’s –0.2%。

Global refining is undergoing a structural transformation, shaped by shifting regional demand, rising sustainability pressures, and mounting concerns over energy security.

BP has officially launched work on its $25 billion redevelopment deal in Iraq’s northern Kirkuk province, sending engineers to begin assessments on four strategic oilfields.

The clean hydrogen boom is losing steam. In recent months, developers worldwide have scrapped or delayed dozens of low-carbon hydrogen projects, citing weak demand, soaring costs, and corporate strategy shifts.

On September 3, LG Chem and GS Caltex announced they are in discussions to integrate their steam cracker operations in Yeosu, South Korea.

The European Chemical Industry Council (Cefic) has slashed its 2025 production outlook, warning that chemical output across the continent will fall this year, after previously forecasting 0.5% growth.

U.S. oil major ConocoPhillips confirmed on September 3 that it will lay off as much as 25% of its global workforce, a move that could affect more than 3,000 employees worldwide.

Europe’s plastic recycling industry is facing an existential crisis, with bankruptcies spreading across the sector and production capacity falling at alarming speed, according to the Plastics Recyclers Europe (PRE).

Shell has scrapped plans to build an 820,000 tonnes-per-year biofuels complex in Rotterdam, citing rising costs and weak market conditions.

Bangladesh’s interim government is negotiating a memorandum of understanding (MOU) with Saudi Aramco to expand cooperation in the energy sector, including imports of liquefied natural gas (LNG), according to officials on August 28.

Denmark is accelerating its biomethane ambitions, with grid operator Energinet announcing plans to increase the country’s annual production by 25% within the next two years, up from the current level of around 8 TWh.

Evonik has officially inaugurated its new alkoxylates production facility on Jurong Island, Singapore, with a capacity of 100,000 tonnes per year.

Germany’s chemical industry endured another tough quarter in Q2 2025, with production, sales, and prices all declining, according to the German Chemical Industry Association (VCI), which described the overall performance as “disappointing.”

DKSH’s Business Unit Consumer Goods, a partner for companies seeking to expand their consumer goods business in Asia and beyond, has entered into an agreement with Point Grey Vietnam to distribute the full range of baby and personal care products.

• DKSH
• Point Grey

The recent uptick in propylene oxide (PO) prices is likely to be fleeting, according to industry analysts. PO, a key intermediate for polyurethane foams and solvents, saw its market price rebound modestly in early August after a prolonged slump.

The global coil coatings industry – which provides pre-painted finishes for metal sheets used in construction, appliances, and autos – is poised for steady expansion.