Chemical News
-
Iran says it's set to break nuclear deal rules for a second time Jul 08,2019
Iran said Sunday it is hours away from exceeding the uranium enrichment level allowed under the 2015 nuclear deal, which the US quit last year, in a bid to pressure European parties to meet their end of the deal on oil sales and banking relations. "From today, we officially pass the limit of 3.67% for uranium enrichment," government spokesman A...>>>
Iran says seized oil tanker off Gibraltar was not headed to Syria Jul 08,2019
Iran was carrying crude oil in the tanker that was seized off Gibraltar last week but denied that it was heading to Syria, according to one of Iran's top diplomats. On Thursday, the Gibraltar government said it had "reasonable grounds to believe" that the Panamanian-flagged Grace 1 was carrying a shipment of crude oil to the Banias refinery in ...>>>
McDermott/Chiyoda JV wins incentive to complete US Cameron LNG project on time Jul 08,2019
The joint venture of McDermott International and Chiyoda International -- which in 2014 was contracted to build the three-train Cameron LNG project in the US -- has agreed with the project owner the possibility of receiving "incentive bonus payments" for completing the second and third trains on time. The agreement announced Friday is designed t...>>>
Majority of IAM Dec-Feb Dutch-UK gas capacity sold in single day Jul 08,2019
The majority of December-February monthly gas transport capacity for the Dutch-UK BBL pipeline available via implicit allocation mechanism was sold in a single day, operator BBL Company said Thursday. In its first publication of implicit allocation mechanism, or IAM, capacity sales since introducing the new marketing channel, BBL Company, or BBL...>>>
Pakistan's third LNG terminal gets approval, but delays expected Jul 08,2019
The Pakistani government has given approval to the country's third LNG terminal, after the International Monetary Fund granted July 3 a $6 billion, three-year loan. However, the start up of the facility is likely to suffer delays beyond its initial 2019-end target, as the government has prioritized shoring up foreign exchange reserves that have ...>>>
S Korea's SK Energy eyes Chinese market with 35% stake in Sinopec refinery Jul 08,2019
SK Energy bought a 35% stake in state-run Sinopec's 8.5 million mt/y Wuhan refinery in China as the South Korean energy and petrochemical conglomerate moves to widen its footprint in the world's second-largest economy. The deal marks SK Energy's first major oil refining investment in China and adds to its existing partnership in the adjacent Wuh...>>>
Dubai sour crude spreads tick up as traders mull Saudi Aramco OSPs Jul 08,2019
Benchmark Dubai crude futures spreads were up a tad in mid-morning trading in Asia on Friday, as crude oil market participants evaluated fresh prices released by Saudi Aramco overnight. At 11 am in Singapore (0300 GMT), September cash Dubai crude's premium to September futures ticked up to 99 cents/b, compared with 96 cents/b assessed at the clo...>>>
100 Spot Commodities Price Chart - 05/07/2019 Jul 08,2019
div>It was assessed by SunSirs that in the tracked 100 spot commodities,28 commodities increased in prices, 26 fell and 46 remained unchanged on 05/07/2019.The largest rises were Ethylene oxide (2.86%),PA (2.31%),MTBE (1.44%),while the largest falls were Hy...>>>
US urges Turkey to halt gas drilling off Cyprus coast Jul 10,2019
The US late Tuesday urged Turkey to end its natural gas drilling operations off the island nation of Cyprus, warning that such operations were boosting tensions in the region. "This provocative step raises tensions in the region," the US State Department said in a statement. "We urge Turkish authorities to halt these operations and encourage all...>>>
US EIA expects lower gas spot prices, some deceleration in gas production growth Jul 10,2019
Price declines brought on by mild June temperatures and an updated assessment of US drilling activity and average well productivity spurred the US Energy Information Administration Tuesday to lower its forecast for Henry Hub natural gas spot prices in the second half of 2019. The agency, in its July Short-Term Energy Outlook, put third-quarter Hen...>>>
Capital Dynamics, Sol Systems form venture to invest in distributed generation market Jul 10,2019
Capital Dynamics, an investment firm with a growing portfolio of big utility-scale solar assets, said Tuesday it is forming a joint venture with Sol Systems that will invest in the distributed generation market. Sol Customer Solutions, as the JV will be known, will focus on providing "large pools of institutional capital direct exposure to the d...>>>
Plains eyes Rockies expansion as oil shippers seek more pipeline space from Canada Jul 10,2019
Plains All American Pipeline launched an open season this week to gauge demand for an expansion of its Western Corridor pipeline system to move more oil from Canada, Montana and Wyoming toward refining and export markets on the Texas Gulf Coast. The pipeline builder aims to boost capacity by 70,000 b/d and start service in the second quarter of ...>>>
US knocks Cheniere over response to LNG storage tanks mishap agreement Jul 10,2019
US regulators warned Cheniere Energy on Tuesday that they will not allow the operator to return two LNG storage tanks to service that have been offline at its Louisiana export terminal since an inadvertent release of gas more than a year ago until promised corrective actions are completed. Market concerns that a prolonged shutdown could affect g...>>>
US considering letting Venezuela waiver expire for Chevron, other US companies Jul 10,2019
End of general license would further reduce Venezuela oil output Chevron projects, including Petropiar, to be impacted Could allow Russian, Chinese firms new foothold in sector The Trump administration is strongly considering letting a waiver which allowed Chevron and four US oil services companies to continue work with Venezuela's state-own...>>>
Nucor aims to raise steel sheet prices another $40/st Jul 10,2019
Nucor said on Tuesday it intends to raise its base prices for sheet steel by a minimum of $40/st. The increase attempt is the second in as many weeks by domestic steelmakers to try and push up steel prices following a nearly yearlong slide. The Charlotte-based steelmaker said the increase was for all hot-rolled, cold-rolled and galvanized coil p...>>>
Bearish US utility coal market sentiment unlikely to lift before end of 2020: Seaport Jul 10,2019
No end to the bearish sentiment in the US utility coal market is expected through 2020, according to analysts at Seaport Global, as a result of low domestic natural gas prices and a weak export market. The utility coal "market started the year in good shape, but has gotten materially worse ever since," driven by a low front-month gas futures pri...>>>
Americas petrochemicals outlook w/c July 8 Jul 10,2019
US OLEFINS Prompt July ethylene prices remained virtually unchanged over the week. The market is still closely watching the timing of the return of the BASF/Total cracker to normal operations, which has been supporting ethylene prices despite ethane prices being close to an all-time low. Both grades of the June propylene contracts rose over the we...>>>
100 Spot Commodities Price Chart - 09/07/2019 Jul 10,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,23 commodities increased in prices, 29 fell and 48 remained unchanged on 09/07/2019.The largest rises were Iron ore (3.97%),2-EH (2.09%),Benzene (1.60%),while the largest falls were Po...>>>
South Korea's Kogas Jun LNG sales suffer biggest decline in 32 months on weak demand Jul 15,2019
South Korean state-owned Korea Gas Corp.'s LNG sales in June dropped 14% from a year earlier, marking the biggest decline in 32 months, due to weaker demand for power generation. Kogas, which has a monopoly in domestic natural gas sales, sold 1.912 million mt in June, compared with 2.224 million mt a year earlier, according to a company official...>>>
Dubai futures' discount to Brent widens, eyes on China demand Jul 15,2019
Sour crude benchmark Dubai futures' discount to ICE Brent widened slightly in mid-morning trade in Asia Monday, while the market will weigh fresh cues on Chinese demand, which has been driving premiums higher for Middle East barrels in recent days. At 11 am Singapore tome (0300 GMT) Monday, September Dubai futures were valued at $63.67/b, down f...>>>