Chemical News
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Analysis: Strong US gasoline imports may signal softer summer demand May 16,2018
he start of summer in the US traditionally marks the start of the driving season, a period of strong gasoline consumption for the US and a major driver of European exports. However, high imports from Europe since mid-March and high refinery utilization rates could put early pressure on the arbitrage window to the US. Having clocked up 1.58 trill...>>>
UK natural gas market looks 'balanced' for upcoming winter, 2019: industry May 16,2018
The UK gas market appears to be in good shape to cope with the upcoming winter and through 2019, industry officials said Tuesday. * 'Lessons learned' from March gas deficit warning: National Grid * 'No compelling reason to scream at the moment': Centrica * Market set to be better supplied with new LNG coming online The UK was severely t...>>>
Inhofe interested in Clean Water Act fix as he seeks to nudge bill May 16,2018
Senator James Inhofe, a key subcommittee chairman, plans to gauge support for including in broad infrastructure legislation a Clean Water Act fixthat could make it harder for states to block interstate natural gas pipeline projects. The Oklahoma Republican's optimism about the outlookfor congressional action on a broad infrastructure bill, however,...>>>
Lower power prices, squeezed margins see RWE's Q1 earnings slide 25% May 16,2018
Lower wholesale electricity prices and squeezed generation margins have seen RWE's earnings fall another 25% in the first quarter of 2018, Germany's biggest power producer said Tuesday. * Nuclear, lignite prices reach 'trough' at Eur28/MWh * Spread-based power hedging below 10% for 2020/21 * CO2 positions financially hedged to 2021 at Eur5...>>>
Singapore-listed Golden Energy's Q1 coal output up 57% on year at 4.7 mil mt May 16,2018
Singapore-listed Golden Energy and Resources or GEAR said late Monday it produced 4.7 million mt of thermal coal in Indonesia in the first quarter, up 56.67% year on year, and was on track to achieve its target output for 2018 of over 20 million mt. The company produced 15.6 million mt of coal in 2017 and is aiming for a 28% year-on-year increa...>>>
Qatar seeks partners for new Ras Laffan petrochemicals venture May 16,2018
State-owned Qatar Petroleum announced plans Tuesday for a new petrochemicals complex at Ras Laffan, and invited international companies to submit proposals for a joint venture. The planned complex, slated for completion in 2025, will include an ethane cracker with the capacity to produce 1.6 million mt/year of ethylene, making it the largest cra...>>>
US Senator Grassley blasts EPA chief over US biofuel mandate waivers May 16,2018
An apparent deal brokered by the White House to reform the US biofuel mandate may be in trouble, given critical comments made Tuesday by key biofuel supporter US Senator Chuck Grassley. Grassley, Republican-Iowa, said the Environmental Protection Agency's liberal granting of waivers to small refineries undermines the commitment President Donald ...>>>
Europe-Asia styrene export interest heard despite closed arbitrage: market sources May 16,2018
Interest to export styrene from Europe to Asia has been heard, although the export arbitrage is closed, according to market sources. Sources said that there was interest to ship product from Europe to Asia from prior purchases of styrene, with some requests for availability of cargoes on this route heard recently. The arbitrage is, however, c...>>>
US Gulf Coast ethane falls to two-month low on oversupply, low demand May 16,2018
US Gulf Coast ethane prices continued their downward trend Tuesday, dropping to their lowest level in two months on oversupply and low demand. May non-LST ethane fell 87.5 points to 24.25 cent/gal, the lowest since a March 9 assessment at 24.125 cents/gal. Ethane prices have shed 3.5 cents since the last day S&P Global Platts assessed April N...>>>
100 Spot Commodities Price Chart - 15/05/2018 May 16,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,36 commodities increased in prices, 17 fell and 47 remained unchanged on 15/05/2018.The largest rises were Acetic acid (2.26%),DOP (2.12%),MTBE (1.83%),while the largest falls were Hyd...>>>
Japan's Mar bonded bunker fuel sales jump 14% from Feb to 2.64 mil barrels May 17,2018
Japan sold 2.64 million barrels of bonded bunker fuel in March, up 13.5% from February and up 10.3% year on year, according to data released Wednesday by the Ministry of Economy, Trade and Industry. The sales volume recorded for March is a 16-month high, with METI's historical data showing that bonded bunker fuel sales were last higher in Novem...>>>
Mitsui Phenols Singapore restarts phenol/acetone plant after maintenance May 17,2018
Mitsui Phenols Singapore restarted its phenol/acetone plant in Pulau Sakra this week after scheduled maintenance, a source close to the company said late Tuesday. The plant has a nameplate capacity of 310,000 mt/year of phenol and 180,000 mt/year of acetone. Mitsui Phenols is one of two producers of phenol/acetone in Southeast Asia, and the...>>>
Lower power prices, squeezed margins see RWE's Q1 earnings slide 25% May 17,2018
Lower wholesale electricity prices and squeezed generation margins have seen RWE's earnings fall another 25% in the first quarter of 2018, Germany's biggest power producer said Tuesday. Nuclear, lignite prices reach 'trough' at Eur28/MWh Spread-based power hedging below 10% for 2020/21 CO2 positions financially hedged to 2021 at Eur5-6/mt Adj...>>>
Industry casts doubt over future of long-term LNG supply contracts May 17,2018
The expected growth in the global LNG market in the coming years will mean buyers can do without long-term contracts, leading industry players said late Tuesday at the Flame conference in Amsterdam. Instead, with growing volumes of spot LNG available, buyers can either look to shorter-term contracts or the spot market to meet their needs. Cha...>>>
Total halts Iran's South Pars gas project over US sanctions risk May 17,2018
French oil major Total has halted plans to help develop Iran's giant South Pars gas field as it seeks to clarify whether the investment can avoid falling foul of returning US sanctions on Tehran, the oil company said Wednesday. Total was the furthest advanced of its European oil major peers in a cautious feeling out of upstream opportunities in ...>>>
US sanctions on Venezuelan crude off the table for now: analysts May 17,2018
The Trump administration is highly unlikely to impose sanctions on crude flows in response to Venezuela's presidential election on Sunday, but new limits on US diluent exports to Venezuela are still being considered, according to analysts. Gasoline prices, Iran deal exit pauses potential embargo Near-term sanctions on diluent exports still poss...>>>
Iran agrees to first upstream deal after US sanctions May 17,2018
Iran has agreed to sign a $1.167 billion upstream deal with the UK-led Pergas consortium Wednesday for the development of the onshore Karanj oil field, only a week after the US withdrew from the nuclear deal. Iranian oil minister Bijan Zanganeh, present at the signing of the heads of agreement between the Pergas consortium and National Iranian S...>>>
Mitsui Phenols Singapore restarts phenol/acetone plant after maintenance May 17,2018
Mitsui Phenols Singapore restarted its phenol/acetone plant in Pulau Sakra this week after scheduled maintenance, a source close to the company said late Tuesday. The plant has a nameplate capacity of 310,000 mt/year of phenol and 180,000 mt/year of acetone. Mitsui Phenols is one of two producers of phenol/acetone in Southeast Asia, and the...>>>
US boho factor falls below zero for first time since 2014 May 17,2018
The relationship between feedstock soybean oil and blendstock heating oil that the biodiesel industry uses to gauge costs and margins dropped below zero for the first time in more than 3 1/2 years on Wednesday. The "boho" factor, as the relationship is also called, fell 5.92 cents to minus 1.47 cents/gal, the lowest level since reaching minus 4....>>>
TAP natural gas pipeline begins commercial service Nov 20,2020
The 10-billion cu m/year (bcmy) Trans Adriatic Pipeline has begun commercial operations. The start of natural gas shipments on the 878-km pipeline comes 4 1/2 years after the start of construction. TAP is the European leg of the 3,500-km Southern Gas Corridor, connecting with the Trans Anatolian Pipeline at the Turkish-Greek border...>>>