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Wally, Willy and Steven US prosecutors charged Yih-Shyan “Wally” Liaw, Ting-Wei “Willy” Sun, Ruei-Tsang “Steven” Chang,

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While everyone is focusing on the supply side of energy, here is what nobody is discussing (yet): demand is falling off a cliff, as either prices are too high, or there simply aren't any physical inputs. First in Asia: With over half of Japan's naphtha imported, petrochemical producers are trimming output: - Mitsubishi Chemical and Mitsui Chemicals have reduced ethylene runs -Sumitomo Chemical may delay restarting Keiyo Ethylene and expects reduced rates even after restart. South Korea is also seeing pressure build across the sector. - YNCC, one of the region’s largest ethylene producers, has declared force majeure and is running its cracker at significantly reduced rates. - Both Lotte Chemical and LG Chem have warned customers that they may follow, and the government has temporarily designated naphtha an “economic security item” to manage dwindling stocks. In China, Sinopec has cut March refinery runs by about 10% to conserve crude stocks. - A Shell–CNOOC joint venture has shut its Huizhou ethylene cracker and told customers that polyethylene shipments are suspended indefinitely effective March 5 - Wanhua Chemical has declared force majeure for Middle Eastern customers amid severe LPG feedstock disruptions. In Indonesia, Chandra Asri is operating at reduced rates and has declared force majeure following a sudden halt in feedstock arrivals. In Taiwan, Formosa Plastics Group’s Taiwan Petrochemical declared force majeure on March 10 and indicated that, if shortages worsen, volumes will be allocated based on actual availability. India suspended shipments of LPG to commercial operators to prioritize supplies for households, leading to worries from hotels and restaurants that they may be forced to close.