Petrokimia
Government to temporarily designate naphtha as economic security item
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South Korea's government will temporarily designate naphtha as an economic security item amid supply shortages from the Middle East crisis. Finance Minister Koo Yun-cheol announced measures like securing alternative imports and restricting exports. Petrochemical firms risk operational disruptions.
Korean petrochemical firms exceeded market expectations with first-quarter earnings, but analysts warn it is too early for optimism. Prolonged geopolitical tensions could lead to losses in the second half. LG Chem and Hanwha Solutions reported profits after recent losses.
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Egypt produces around 1.1 million tonnes of methanol annually, meeting domestic industrial demand while exporting surplus to global markets, Minister of Petroleum and Mineral Resources Karim Badawi said. Badawi spoke at the general assembly meeting of Methanex Egypt to approve its 2025 financial results, highlighting the company’s role in supporting local industries.