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China’s massive expansion in petrochemicals production capacity face fresh challenges as shipping crises in the Panama Canal and the Red Sea raise freight costs and curb access to US propane supplies.

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Chinas investment in the petrochemicals industry is leading to excess capacity and falling profit margins for the industry as a whole, as a slower-than-expected rebound in demand means oversupply of materials that go into plastic-making such as ethylene and propylene is on the horizon. The construction of more than 20 petrochemical projects in China, set to be completed this year, will increase Chinas already significant market share of global manufacturing capacity to nearly a quarter by the en...

(Bloomberg) -- Once touted as a key driver of global oil profits, the plastics industry is staring down years of anemic margins as giant plants in China look set to send a deluge of production into the market. Most Read from BloombergWall Street Soothsayers Are Bewildered About What’s NextYellen Had Candid Five-Hour Meeting With China’s He, US SaysAnt to Buy Back Shares at 70% Lower Valuation Than at IPOCEO Who Grew Up in Poverty Builds Rare $1.4 Billion Fish StartupMacron Is Tryin...

Once touted as a key driver of global oil profits, the plastics industry is staring down years of anaemic margins as giant plants in China look set to send a deluge of production into the market.

A shifting energy landscape primarily driven by the uptake of electric vehicles has prompted MRPL to focus its efforts on increasing output of chemicals that can be used for plastics and paints, Sanjay Varma, managing director, said in an interview.

MRPL shelved a planned refinery expansion to focus on boosting its petrochemical production capacity.

MRPL shelved a planned refinery expansion to focus on boosting its petrochemical production capacity.