Chemical News
-
Winter storms prompt multiple alerts, lift power prices east of Rockies Mar 05,2019
The Midcontinent Independent System Operator and PJM Interconnection issued cold weather alerts beginning Monday, as the Southwest Power Pool declared conservative operations on top of an existing cold weather alert issued last week as a winter storm system sweeps across the Great Plains and Northeast. The system will bring snow over parts of t...>>>
100 Spot Commodities Price Chart - 04/03/2019 Mar 05,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,38 commodities increased in prices, 19 fell and 42 remained unchanged on 04/03/2019.The largest rises were Phenol (2.56%),Iron ore (2.43%),DME(2.41%),while the largest falls were Chlor...>>>
ExxonMobil ups production outlook on Permian, Guyana growth Mar 08,2019
ExxonMobil has said it expects to raise its earnings by 140% between 2017 and 2025, helped by higher-than-expected Permian Basin production as well as exploration success and development plans at its Guyana and Brazil offshore holdings. "We are exceeding the pace of our expected progress on the aggressive growth strategy we laid out last year," ...>>>
Ethanol demand boost from US EPA lifting summer E15 ban expected to be slow Mar 08,2019
Even if the Trump administration completes a policy change allowing year-round sales of higher ethanol blends in time for this summer's driving season, any major increase in demand may not materialize until summer 2020 because fuel stations saw the promised policy change as too uncertain to act on this year, according to observers. The US Enviro...>>>
US inching toward secondary sanctions on Venezuelan crude, product flows: sources Mar 08,2019
Nearly six weeks after imposing sweeping sanctions on PDVSA, Venezuela's state-owned oil company, and apparently no closer to removing President Nicolas Maduro from office, the Trump administration is considering additional actions, including secondary sanctions that could impact nearly all crude and refined product flows in and out of the South Am...>>>
Global, industry action needed to push plastics recyclability: EC official Mar 08,2019
The European Commission's push to promote the recyclability of plastics in Europe will need to entail global action, voluntary commitments by industry and crucial investments, the EC's director general for environment said Thursday. Speaking at the Identiplast conference in London, Daniel Calleja Crespo said Europe could not tackle the problem o...>>>
Petition to head off ISO-NE market changes receives support but may not be needed Mar 08,2019
A petition opposing a possible retroactive change to the way ISO New England treats energy efficiency resources in its forward capacity market garnered early comments of support, but some said US Federal Energy Regulatory Commission action may not be needed at this stage. Advanced Energy Economy and the Sustainable FERC Project in February asked...>>>
Pembina sticks to first export timing for Jordan Cove LNG terminal amid FERC schedule delay Mar 08,2019
Pembina Pipeline does not expect a recent delay in its US regulatory permit approval schedule to impact its current target for shipping its first cargo from its proposed Jordan Cove LNG export terminal in Oregon in 2024, the company said Thursday. The Canadian company's project, which it inherited when it acquired Veresen in 2017, is among a doz...>>>
Ferrominera's second pellet line expected to October: Maduro Mar 08,2019
The construction of a 3.3 million mt/year pellet line by Venezuela's sole iron ore producer, Ferrominera Orinoco, is expected to be concluded in October, Venezuela's President Nicolas Maduro said Wednesday. "I will be in October putting into operation the second pellet line, with production capacity of 3.3 million mt per year," Maduro said duri...>>>
Rusal's 2018 profit surges 39% on year despite US sanctions Mar 08,2019
Russian aluminum producer Rusal shrugged off US sanctions imposed in April to deliver a 39% profit increase in 2018 and signaled a global demand recovery for aluminum. On Thursday, the company reported revenue of $10.3 billion for the 2018 financial year, up 3.1% from 2017, while its net profit soared by 39% to $1.7 billion from $1.2 billion. R...>>>
100 Spot Commodities Price Chart - 07/03/2019 Mar 08,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,25 commodities increased in prices, 20 fell and 54 remained unchanged on 07/03/2019.The largest rises were Polyester POY (3.52%),Polyester DTY (1.58%),PET (1.45%),while the largest fal...>>>
Indian NMDC's Apr 2018-Feb 2019 iron ore output falls 9% on year to 28 mil mt Mar 13,2019
India's NMDC produced 28.43 million mt of iron ore over April 2018-February 2019, down 9.2% year on year due to the suspension of production at one of its three mines, the state-run company said Wednesday. Sales for the 11-month period totaled 28.8 million mt, down 9.8% year on year, the company said. India's financial year runs April-March. Pr...>>>
Fujairah data: Middle distillate stocks jump 32% on week Mar 13,2019
Stockpiles of middle distillates at the Middle Eastern hub of Fujairah climbed 32% in the week to Monday, even as total refined product inventories were little changed, according to data from the Port of Fujairah. Middle distillates, such as LPG used in cooking, jumped to 2.609 million barrels, a two-week high, while the total refined product in...>>>
Analysis: South Korean refiners' domestic market share may shift post IMO 2020 Mar 13,2019
South Korean refiners are set to compete fiercely for the domestic middle distillates and low sulfur fuel oil market share when the International Maritime Organization implements new global sulfur limit rule for marine fuels next year, with SK Innovation well positioned to expand its lead thanks to its new desulfurization unit and dominant supply n...>>>
Australia's Strike acquires 90% interest in Argentinian Solaroz lithium brine project Mar 13,2019
Australia-listed Strike Resources has agreed to acquire 90% interest in the "highly prospective" Solaroz lithium brine project within South America's so-called Lithium Triangle in northwest Argentina, by taking a shareholding interest in Argentina-registered Hananta, the company said Wednesday. Solaroz is located close to the producing Salar de ...>>>
Asian paraxylene-mixed xylene spread widens to near 8-year high on maintenance shutdowns at PX plants Mar 13,2019
The spread between paraxylene and its feedstock isomer-grade mixed xylene widened to an almost eight-year high of $466.67/mt in Asia on Tuesday amid a glut of MX supply and firm PX prices caused mainly by maintenance shutdowns at paraxylene plants, S&P Global Platts data shows. Tuesday's spread was the widest since March 30, 2011, when it hit $...>>>
CNOOC kick-starts China's first long-term LNG terminal access Mar 13,2019
China National Offshore Oil Corp has moved to open up its LNG import terminals to third-party access -- a first in the country and after two trial runs late last year. Each third party user must take in a minimum four cargoes (260,000 mt) per annum over 10 years, according to a recent release by Shanghai Petroleum and Gas Exchange. That requirem...>>>
Crude oil futures trade higher on surprise drop in US stocks data Mar 13,2019
Crude oil futures were higher during mid-morning trade in Asia Wednesday after latest weekly data showed an unexpected drawdown in US crude stocks, while OPEC producers were expected to keep production constrained. At 10:43 am Singapore time (0243 GMT), May ICE Brent crude futures were up 12 cents/b (0.18%) from Tuesday's settle at $66.79/b, whi...>>>
US to target more banks helping Maduro regime: official Mar 13,2019
The US plans to impose "very significant additional sanctions" against Venezuela and target more international banks helping the Maduro regime, a top State Department official said Tuesday. The Trump administration ratcheted up pressure on Venezuela this week, including calling on India to stop importing oil from the country and sanctioning a Mo...>>>
CERAWeek: Citgo can weather shock of PDVSA sanctions, says chairwoman Mar 13,2019
US sanctions on Venezuela have halted Citgo's primary source of crude for its US refineries, but will not significantly slow the company's operations, Citgo's new chairwoman Luisa Palacios said Tuesday. "It's a shock, but it's one that we are very well placed to weather," Palacios said during an appearance at CERAWeek by IHS Markit in Houston. ...>>>