The progress on Sino-U.S. trade and an easier dollar could provide some support to commodity prices.
Oil posted its weakest month in more than 10 years in November, losing more than 20 percent as global supply outstripped demand. [O/R]
Speculation is high the Organization of the Petroleum Exporting Countries (OPEC) and Russia would agree some form of production cut at a meeting in Vienna on coming Thursday.
Brent futures LCOc1 rose $2.40 to trade at $61.86 a barrel, while U.S. crude CLc1 gained $2.28 to $53.21.
OIL production cut can only be symbolic,may stablized price for awhile ,but as demand is weakening on the back of slowing economy in China,which is actual and real.
LOTTE Chemical Titan's subsidiary holds ground breaking line project in Indonesia
Last update: 07/12/2018
KUALA LUMPUR, Dec 7 (Bernama) -- LOTTE Chemical Titan Holding Bhd's subsidiary, PT LOTTE Chemical Indonesia (LCI), today held a ground breaking ceremony for the company's one million tonne Ethylene Cracker & Related Downstream Petrochemical Facilities, officially known as the LOTTE Chemical Indonesia New Ethylene Project (LINE Project) in Cilegon, Indonesia.
With an investment value that is expected to reach at least US$3.5 billion, the LINE Project would complement the company's three existing polyethylene plants in Indonesia currently operated by the company’s subsidiary, PT LOTTE Chemical Titan Tbk, to form an integrated petrochemical facility.
"The LINE Project which includes a naphtha cracker and large-scale petrochemical complex that produces downstream products, is currently in the planning stage.
"LOTTE Chemical Titan Holding Bhd will update the market on the progress of the LINE Project and construction is expected to commence in 2019/2020 and be completed in 2023," it said in a statement today.
LOTTE Chemical Corporation, Korea, which owned 76 per cent of the company is a pioneer in the petrochemical industry and a leader in the development of Korea's petrochemical industry.
The completion of the LINE Project would steer the company towards becoming a Top Tier Petrochemical Company in South East Asia.
At present, Indonesia imported over 50 per cent of its petrochemical products and hence the additional domestic production from LINE would improve Indonesia’s trade balance significantly. ..... http://www.bernama.com/en/business/news.php?id=1673055
Lotte Chemical Indonesia begins construction of plant in Cilegon
The Jakarta Post Chemical manufacturer PT Lotte Chemical Indonesia (LCI), a subsidiary of LOTTE Chemical Titan Holding, which is listed in the Kuala Lumpur Stock Exchange, held a ground-breaking ceremony for the Lotte chemical Indonesia new ethylene (LINE) project in Cilegon, Banten, on Friday.
“The successful implementation of the LINE project will be a significant milestone for the LOTTE Group and the Company’s plans to be a top tier petrochemical company in South East Asia,” said the Lotte Group chairman Shin Dong Bin in a statement.
The LINE project, which includes a naphtha cracker and large-scale petrochemical complex that produces downstream products, is currently at planning stage, the statement says, adding that the construction is expected to commence in 2019 or 2020 and to be completed in 2023.
Lotte Chemical Corporation (LCC), LOTTE Chemical Titan Holding parent company and which owns 76 percent of the company, is a pioneer in the petrochemical industry and a leader in the development of Korea’s petrochemical industry.
“Indonesia imports more than 50 percent of its petrochemical products and hence the additional domestic production from LINE will improve Indonesia’s trade balance significantly,” the statement says, adding that the LINE project will lead to the creation of jobs and significantly expand the plastic fabrication industry.
The event was attended by among others Industry Minister Airlangga Hartarto, Investment Coordination Board head Thomas Trikasih Lembong, South Korea Ambassador to Indonesia Kim Chang Beom, Lotte Group chairman Shin Dong Bin and Lotte Chemical Titan Holding independent chairman Abdul Rahman bin Mamat.(bbn)
today its Mood is not good to go up..ha ha ha..but still it will zooooom as..when already trade with previously as they suggest me wait for the right time. MLR (Money life Research) were rght ..
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Fabien Extraordinaire
2,012 posts
Posted by Fabien Extraordinaire > 2018-11-26 10:55 | Report Abuse
Today The Edge mentioned LCTitan as potential privatization.