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(Bloomberg) -- Asian refineries are grappling with what's expected to be a brief period of weak profits as a demand-sapping Covid-19 comeback across the region coincides with a likely surge in oil-product exports from Iran. Oil consultant FGE sees India's gasoline consumption as the "biggest stumbling block to Asia's demand recovery", with an estimated 20% fall in April through June versus the previous quarter. [Extracted from the article]

The article focuses on the re-emergence of Iran as a full player in the global oil and gas market is a major development and would be so under any market conditions. it mentioned about the Joint Comprehensive Plan of Action (JCPOA) that lifts nuclear-related sanctions against Iran to restore the country's access to world oil and gas markets.

The article reports that lack of feedstock in Iran has jeopardized new cracker projects and started affecting operations at existing plants. A source from a state-owned upstream company in the region said that they are trying to figure out at what price to offer gas or naphtha to ensure a project is viable. Projects are surrounded by problems because ethane is no longer available in required volumes and the cost of extracting the little that is available is much higher than current prices.

The article reports on the delay in the commercial production at National Petrochemical Co.'s (NPC) No. 7 cracker in Iran due to some technical problems. Production will start in April 2006. The Marun Petrochemical Co. cracker is a joint venture between the state-owned NPC and the Oil Pension Fund Investment.

The article reports on the decision of National Petrochemical Co. (NPC) to move the schedule of the construction of its Olefins No. 7 cracker in Bandar Imam, Iran from the second quarter of 2006 to March 1. A polyethylene unit and a polypropylene plant will be built downstream of the cracker. NPC plans to export ethylene from the complex. Marun Petrochemical is handling the complex project.

Focuses on preliminary negotiations conducted by Indian state-owned company Gail with National Petrochemical Corp. (NPC) of Iran on a possible investment in a gas-based cracker project in Assaluyeh, Iran. Plan of Indian Oil Corp. and NPC to conduct a joint feasibility study on the project; Other projects being considered by Gail in India. INSETS: Sabic pulls out of Olefins 7 venture;Arvand opts for Omega technology;NPC may join Dalian Shide complex.

Reports on the decision of National Petrochemical Co. to delay the start-up of its Olefins No. 7 cracker and its derivatives units in Bandar Imam, Iran from early 2005 to the second half of the year. Reason behind the decision; Facilities of Olefins No. 7; Plan of Sabic to acquire a share in the entire No. 7 complex.

Reports on the decision of Gail India and the National Petrochemical Company (NPC) of Iran to jointly set up a gas cracker in Iran as of 2004. Required budget for the cracker; Other projects to be evaluated by Gail and NPC.