Chemical News
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Italy drafts guidelines for national hydrogen strategy Nov 20,2020
Italy has set out guidelines for a national hydrogen strategy to help decarbonize the economy as it phases out coal and boosts renewable energy production to meet long-term climate targets. In a draft document called National Hydrogen Strategy Preliminary Guidelines, the Industry Ministry said it was targeting investments in the se...>>>
US to drive LNG liquefaction capacity growth in North America by 2024 Nov 20,2020
The US is expected to lead the LNG liquefaction capacity growth in North America by 2024, accounting for around 92.6% of the region’s total growth. Approximately 144.6 MMtpy is likely to be added by the US by 2024, says GlobalData, a leading data and analytics company. GlobalData’s report,‘LNG Liquefaction Industry Outlook in North...>>>
China's Tosoh Guangzhou PVC plant unable to restart amid license issue May 18,2018
China's Tosoh (Guangzhou) Chemical Industries is not able to restart its 220,000 mt/year PVC plant in Guangzhou after completing regular maintenance end-April, due to a plant licensing issue, sources close to the company said Thursday. The plant was shut in April for annual maintenance. It is unclear why the company is not able to renew its ...>>>
Gas pipeline companies begin structural overhaul following US tax changes May 18,2018
Pipeline operators Williams and Enbridge said Thursday they were absorbing the entities that contain some of their biggest infrastructure assets, in a reckoning for the natural gas sector that was expected after US regulators made a significant tax policy change earlier this year. Cheniere Energy, the first US exporter of LNG produced from shale...>>>
Brent crude tests $80/b on geopolitical risk and US stock drawdown; NYMEX WTI breaches $72/b May 18,2018
Crude oil futures hit a fresh near three-and-a-half-year high during European morning trading, bolstered by geopolitical risk and the unexpected drawdown in US stocks. ICE July Brent crude futures traded as high as $80.18/b at 0948 GMT, up 90 cents from Wednesday's settle. At 1050 GMT, ICE July Brent was trading at $79.95/b, up 67 cents, while N...>>>
Saudi Arabia, UAE pledge to monitor oil market, ensure 'security of supply' May 18,2018
The oil market remains well-supplied, with the recent price rise driven by geopolitics, not fundamentals, the Saudi and UAE energy ministers said Thursday. Even so, the ministers maintained "their commitment to security of supply" and said they will continue to monitor market conditions, the Saudi energy ministry said in a statement. Saudi en...>>>
Petrobras posts first monthly output advance in six months in April May 18,2018
Brazilian state-led Petrobras registered a 1.1% month-on-month advance in crude oil output in April, ending a string of six consecutive monthly declines, after completing maintenance work on a floating production unit at the Lula Field and pumping first oil from the Buzios Field. Petrobras' domestic output averaged 2.090 million b/d in April, up...>>>
European expandable polystyrene demand healthy in May, but general purpose PS disappoints May 18,2018
There is a divergence between expandable polystyrene demand and general purpose polystyrene demand in Europe as EPS demand firmed but GPPS uptake lagged, market sources said this week. EPS sellers were heard minimizing price decreases on a monthly basis in May due to strong demand. The EPS net contract price was assessed at Eur1,755/mt ($2,075/m...>>>
Chevron Phillips Chemical sees flaring at Texas cracker: filing May 18,2018
US olefins producer Chevron Phillips Chemical reported flaring at the 850,000 mt/year cracker in its Port Arthur, Texas, facility, the company said in a regulatory filing Thursday. The unit began flaring Wednesday morning as a result of a process unit upset, according to the filing with the Texas Commission on Environmental Quality. An emissi...>>>
Weekly coal production rises with spring slowdown likely over: US EIA May 18,2018
Weekly US coal production totaled an estimated 14.28 million st in the week that ended May 12, up 5.2% from the prior week and up 7.5% from same week a year-ago week, Energy Information Administration data showed Thursday. Coal production is likely to tick up in the coming weeks as maintenance season winds down and recent warm weather, coupled w...>>>
Italy coalition views green policies, greater Russia ties May 18,2018
A draft agreement drawn up by the two parties that intend to form a ruling coalition in Italy suggests a move towardgreener policies including electric vehicles and increased renewables, while politically it proposes closer ties with principal gas supplier Russia. The document between the Movimento 5 Stelle (M5S) and Lega parties, dated May 15, ...>>>
UK government sets out plan to accelerate, streamline shale gas planning process May 18,2018
The UK government on Thursday set out plans to accelerate the drilling approval process for shale gas in England as part of a new push to exploit the country's vast unconventional gas resources and reduce dependence on imports. In a written energy policy statement, UK Secretary of State for Business, Energy and Industrial Strategy Greg Clark -sa...>>>
100 Spot Commodities Price Chart - 17/05/2018 May 18,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,28 commodities increased in prices, 20 fell and 52 remained unchanged on 17/05/2018.The largest rises were Polyamide FDY (1.32%),Acetic acid (1.28%),PA6 (0.93%),while the largest falls...>>>
Analysis: Indonesia's TPPI seen set to struggle to procure Australian NWS condensate May 21,2018
Indonesia's Trans-Pacific Petrochemical Indotama refinery may struggle to procure a regular supply of Australian condensate in coming months as competition among regional buyers for the ultra-light crude oil intensifies due to the US' efforts to limit Iran's crude and condensate exports. Over the past couple of years, Indonesia's state-run Pert...>>>
S Korea's Polymirae plans to shut 3 PP lines at Yeosu for maintenance in Oct May 21,2018
South Korea's Polymirae Co. plans to shut three lines at its 700,000 mt/year polypropylene plant at Yeosu in the second half of October for 10 days, a source from the parent company said Friday. The plant has four PP lines at Yeosu, each with a capacity of around 175,000 mt/year, with a combined capacity of 700,000 mt/year. Polymirae is a j...>>>
Bulgaria, Serbia push forward with 1.8 Bcm/year gas pipeline interconnector May 21,2018
The energy ministers of Bulgaria and Serbia have agreed to push forward with plans to build the much-delayed gas interconnector between the two countries in a bid to further improve the gas pipeline infrastructure in southeast Europe. Bulgaria and Serbia -- both heavily dependent on Russian gas imports -- have said they want to be able to divers...>>>
Norway ups 2018 gas export price assumption, slashes 2019 forecast on LNG May 21,2018
Norway has raised its assumption for gas export prices in 2018 by 11% but has slashed its price assumption for 2019, suggesting Norway will look to max out gas supplies to Europe this year. With the expectation that Europe will see a significant rise in LNG deliveries next year given the startup of a number of new projects globally, Norway could...>>>
Russia 'will fight' for Nord Stream 2 with US LNG competition in Europe: Putin May 21,2018
Moscow will defend Nord Stream 2, the pipeline to take Russian gas to Europe bypassing Ukraine, despite US threats against it to promote US LNG sales in the region, President Vladimir Putin said Friday after talks with German Chancellor Angela Merkel, with both agreed it was commercial, not political. Says US LNG 25%-35% more expensive for Eur...>>>
Interview: Venezuela election, US sanctions, rising prices and falling output May 21,2018
Ahead of Sunday's presidential election in Venezuela, Risa Grais-Targow, director-Latin America, at the Eurasia Group, spoke to S&P Global Platts about the expected US response, the impact of rising oil prices on sanctions and the ongoing collapse of the country's oil sector. The interview has been edited for brevity and clarity. PLATTS: What...>>>
Weekly coal production rises with spring slowdown likely over: US EIA May 21,2018
Weekly US coal production totaled an estimated 14.28 million st in the week that ended May 12, up 5.2% from the prior week and up 7.5% from same week a year-ago week, Energy Information Administration data showed Thursday. Coal production is likely to tick up in the coming weeks as maintenance season winds down and recent warm weather, coupled w...>>>