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Will the Qatar crisis affect the petrochemical industry?

10 Aug. 2017
  • INDUSTRY,MANUFACTRING 

Will the Qatar crisis affect the petrochemical industry?

After sanctions against Qatar, diplomatic pressure causes economic worries. In addition to being financially interconnected, the bidding countries are among the world's major players in the crude oil and natural gas sectors.

Asian petrochemical industry representatives shared views of this tension on polymer, crude oil prices, and possible impacts on Qatar, especially from Qatar. Some authorities expect that due to restrictions, the industry will sooner or later be affected by the crisis; Others think that the effects are limited because Qatar is more active in the liquefied natural gas sector.

In China, some traders think the crisis will not affect the market. Qatar could end its latest OPEC treaty on partial production of crude oil. However, Qatar thinks that there will be no significant impact on the crude oil market due to limited production of crude oil.

"An Indonesian producer who shares the same opinion," Qatar is one of the biggest liquefied natural gas exporters and crude oil production is limited. For this reason, we do not think that energy or polymer markets will be directly affected. "

However, there are also sector representatives waiting for this event to affect the Asian markets. Thai merchants say, "We think this tension will turn out to be an advantage for Southeast Asian producers. Because the competition with Qatar bids, which usually constitute the lower limit of the prices, will not come to a halt. "

A Singaporean trader said they heard that a Qatar manufacturer's products would be significantly affected; Because the goods of the manufacturer had to pass through the ports of the United Arab Emirates. "But for now, even company officials are not sure what the size of the effects of this event will be," the merchant commented.

A Thai distributor of a Saudi producer said, "We heard that Qatar is a port in the United Arab Emirates. We are concerned that this tension will affect many sectors including construction, logistics and banking, "he said.

"We think that Qatar's low density polyethylene in China may increase in the coming days and prices may fall," a Chinese trader said. Qatar will not sell these goods to Arab countries. "

Qatar, China's second largest supplier with an export of more than 240 thousand tons in 2016, has an important place in China's low density polyethylene import. This figure corresponds to nearly half of Iran's leading supplier of China.

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