Petrochemicals
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The latest U.S. sanctions on Iranian petroleum exports deal a blow to Chinese refining giant Sinopec by targeting a terminal through which the state major handles one-fifth of its crude oil imports.
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Since the European Union's full embargo on Russian oil products went into effect in February 2023, countries in the Middle East and Asia have become the main destinations for Russia's naphtha supplies.
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Construction Boxscore: Project Spotlight
Project:
Long Son Petrochemicals Complex
Location:
Long Son, Vietnam
Operator:
Siam Cement Group
Cost:
$5.4 B
Capacity:
1.65 MMtpy
Completion date:
2023
Status:
Under Construction
