Key facts
- HPCL's Rajasthan petrochemical units are slated for Q4 2026 startup.
- A previous fire delay at HPCL's Rajasthan units has been overcome.
- India's Q3 phosphoric acid import price is $1,700 per ton P2O5 CFR.
- The price of phosphoric acid increased by $340 per ton from Q2 to Q3.
- Rising sulphur costs are driving up phosphoric acid prices.
- Formosa has shut its base oil unit in Taiwan.
- The Formosa unit shutdown is due to an upstream vacuum distillation unit issue.
- Formosa expects to restart production by mid-July.
- Formosa has deferred bulk shipments.
Hindustan Petroleum (HPCL) is progressing towards the fourth quarter of 2026 for the commencement of operations at its Rajasthan petrochemical units. The company has reportedly overcome a previous delay caused by a fire incident and expresses confidence in adhering to the updated schedule.
In a separate development, India's import price for phosphoric acid in the third quarter has seen a substantial increase, settling at $1,700 per ton P2O5 CFR. This represents a $340 per ton rise from the preceding quarter and is attributed to escalating sulphur costs.