Chemical News
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Yukos demise defines Russia 10 years on: Former giant oil producer still seeking huge compensation May 22,2013
In 2003, Yukos was preparing for a game-changing merger with another private Russian oil company, Roman Abramovich's Sibneft, to create a 2.3 million b/d Russian oil producing giant. The deal was scuppered, however, in large part because of an unprecedented attack on Yukos by the Russian authorities, claiming tax irregularities and a host of oth...>>>
FEATURE: US debottlenecking sparks crude differential spread wars May 22,2013
The rapid pace of new US crude production has traders scrambling to assess constantly moving crude differentials as supporting infrastructure grows and changes the dynamics. Not long ago, there was too much crude in Cushing, Oklahoma, the delivery point of the NYMEX sweet crude futures contract. This had traders constantly eyeing the spread, ...>>>
Newfield opens data room on anticipated sale of China, Malaysia assets: CEO May 22,2013
US' big upstream operator Newfield Exploration has opened its long-awaited data room for its Malaysia and China assets, three months after announcing it would exit its overseas operations to focus on North American resource plays, its CEO said Tuesday. "We're out with the information," Newfield's Lee Boothby said during a presentation to the UBS...>>>
China 100 Spot Commodities Price Chart - 20/05/2013 May 21,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,17 commodities increased in prices, 34 fell and 49 remained unchanged on 20/05/2013.The largest rises were Soybean meal (1.12%),PC (1.03%),Natural rubber (0.89%),while the largest fall...>>>
Asian MEG under pressure on high inventory, despite firm polyester May 21,2013
Asian prices for monoethylene glycol are expected to remain under pressure this week because of record-high inventories, in spite of China's rebounding downstream polyester market, industry sources said Monday. MEG inventory levels in China have grown to 960,000-980,000 mt as of Monday, compared with 900,000-910,000 mt a week earlier, according...>>>
Trinidad methanol exports up 47% in March from February May 21,2013
Methanol exports for March were up 47% from February while methanol production was down 5.2% from March to February, according to data the Ministry of Energy Affairs of Trinidad and Tobago released Monday. During March, 540,361 mt of methanol were exported and 437,138 mt of methanol were produced, up from February when exports totaled 367,416 mt...>>>
Chinese, Indian thermal demand to take center stage at Coaltrans Asia May 21,2013
Participants in the biggest Asian coal conference in Bali, Indonesia, in the first week of June will be eying whether China will continue to remain relatively passive in importing thermal coal, industry sources said Monday. Participants in the Coaltrans Asia conference in Bali, Indonesia, to be held June 2-5 will also want to find out whether ro...>>>
Australian resource investment to peak in 2013 at A$85 bil: Wood Mackenzie May 21,2013
Wood Mackenzie expects resource sector investment in Australia to peak in 2013 at A$85 billion ($82.6 billion), dominated by spending in gas, followed by iron ore and coal, and to remain at high levels for the next three years, according to research released by the company last week. "On the upstream side, the unprecedented level of investment ...>>>
US marketed natural gas nearly flat in 2012: FERC data May 21,2013
Total 2012 marketed natural gas volumes in the US are roughly flat with 2011 levels, according to a Platts analysis of the Federal Energy Regulatory Commission's Form 552 data. As of Friday, gas marketers reported 125,723 trillion Btu of purchases and sales for 2012, compared with 125,868 TBtu reported for 2011, according to the data, which inc...>>>
Sweet North Sea, Med crude values rebound on higher sweet margins: traders May 21,2013
Sweet North Sea crude values have begun rebounding as European crude oil traders begin to take note of improving sweet refining margins, the first time in over a month that sweet margins have performed better than sour, traders said Monday. "Margins are steadily creeping back up again. They're not fantastic but I personally don't think there wil...>>>
USAC gasoline wholesale-pump price spread narrows 8 cents/gal: EIA, Platts May 21,2013
The US Atlantic Coast wholesale gasoline-pump price spread narrowed 8 cents/gal Monday to the lowest level since early April, according to US Energy Information Administration data and Platts assessments. East Coast regular gasoline prices averaged $3.489/gal Monday, the EIA reported. That is 64 cents/gal more than the Platts average regular ...>>>
China 100 Spot Commodities Price Chart - 17/05/2013 May 20,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,12 commodities increased in prices, 34 fell and 54 remained unchanged on 17/05/2013.The largest rises were Dried cocoons (1.69%),Copper (0.87%),HDPE (0.64%),while the largest falls wer...>>>
Functional product is the furture development tendency of iron oxide pigment May 20,2013
As the economy develops,industrial technology level improves, people's requirements of comfortable living environment promotes, the iron oxide pigment is not only limited for the satisfaction of decoration, but also comes up with new requirements of its function. As the society develops, the functional requirements of industrial and civil use o...>>>
Backwardation in Asian PX narrows on selling by China PTA producers May 20,2013
The backwardation structure in the Asian paraxylene market narrowed to $2/mt Thursday from $5/mt Wednesday as front-month laycans were seen to be weaker than back-month and amid heavy spot PX selling by Chinese purified terephthalic acid producers, Platts data showed. Early Friday, the structure was seen to turn flat, reflecting the latest H2 Ju...>>>
Styron to roll over styrene butadiene latex prices for June May 20,2013
Plastics and rubber producer Styron Europe said Friday that it plans to roll over its monthly price for styrene butadiene latex in Europe, the Middle East, Africa and India in June, in a bid to widen profit margins amid falling feedstock costs. The rollover would affect latex sold into the paper, carpet, and performance latex markets. Styron ...>>>
MEGlobal keeps June North American MEG benchmark at 63 cents/lb May 20,2013
MEGlobal set its June North American Benchmark price for monoethylene glycol at 63 cents/lb, a rollover from May, a company source said Friday. Market players said Friday there was also talk that other US producers could keep prices flat from May levels. Earlier this week, MEGlobal announced its June Asia Contract Price for MEG at $1,190/mt C...>>>
Japan's Osaka Gas, Kyushu Electric sign transport agreement for Ichthys LNG May 20,2013
Japan's Osaka Gas and Kyushu Electric Power have signed a 12-year LNG transportation agreement with shipping company Mitsui OSK Lines to lift contracted volumes from the Ichthys LNG project offshore Australia, Osaka Gas said in a statement late Thursday. The transportation contract will run for 12 years from 2020, and will be transported by a 75...>>>
Global energy executives convinced US gas stable this year: KPMG May 20,2013
US natural gas prices will remain stable in the $3-$4/MMBtu range for the rest of the year, three-quarters of the global energy executives surveyed by consulting firm KPMG said in a poll released Friday. "Greater assurance of supply appears to be stabilizing commodity price environments and enabling large investments," KPMG oil and gas leader Re...>>>
ARA gasoline stocks fall, increased export demand: BNP, trade May 20,2013
Gasoline stocks in the Amsterdam-Rotterdam-Antwerp region fell 15.9% week on week in the seven days to May 16, according to a report by BNP Paribas released Friday. Stocks fell by 1.5 million barrels to 7.8 million barrels, and were 3.2% lower than the same period last year, the bank said. Market sources pointed to demand from West Africa a...>>>
Oil futures close the week higher on strong equities May 20,2013
Oil futures closed out the week in higher territory Friday, boosted by a strong equities performance even as the US Dollar Index climbed to a 34-month high. NYMEX June crude settled 86 cents higher at $96.02/b, after ranging from a low of a $94.79/b in electronic trading overnight to a peak of $96.45/b seen early in the US session, the highest p...>>>