Chemical News
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PJM says financial transmission rights deal reduces market uncertainty Oct 18,2019
A pending settlement between PJM Interconnection and multiple parties about a financial transmission rights market default would provide "market certainty" and "closure with no outstanding litigation risk," a PJM attorney said Thursday. "From PJM's perspective this settlement is clear and joined by a cross section of the industry which shows it'...>>>
Union Pacific Q3 coal transportation volumes fall 17% on year Oct 18,2019
Union Pacific's coal and coke transportation volumes fell 17% year on year in the third quarter of 2019, driven by soft market conditions, contract changes, retirements and lower natural gas prices, the railroad said Thursday. The Omaha, Nebraska-based company said its coal carloads totaled 263,900 in Q3, down 17% from 319,200 in the year-ago qu...>>>
California ethanol market sees delayed response to terminal fire Oct 18,2019
Prices in the California ethanol market rose Thursday in a delayed response to Tuesday's fire at NuStar's Selby Terminal in Crockett, California. S&P Global Platts assessed the Northern California market at $1.5175/gal, up 5.75 cents on the day. Platts considers California ethanol with a carbon intensity equal to the annual gasoline standard -- ...>>>
Two more gas projects clear FERC's gates, adding Permian, southeastern US capacity Oct 18,2019
The US Federal Energy Regulatory Commission voted 2-1 Thursday to advance two more natural gas pipeline projects: a 500 MMcf/d project adding southbound capacity from the Permian Basin, and a 296 MMcf/d project boosting deliveries to the Mid-Atlantic and the Southeast. In doing so, FERC's recently strengthened Republican majority continued to wo...>>>
US drops sanctions threat against Turkey amid Syria ceasefire: Pence Oct 18,2019
The US will not impose additional sanctions on Turkey after President Recep Tayyip Erdogan agreed to a ceasefire in northern Syria, US Vice President Mike Pence said Thursday during a press conference in Ankara. Pence said the US would drop sanctions imposed this week on Turkish government officials if the ceasefire holds for five days. "The ...>>>
100 Spot Commodities Price Chart - 17/10/2019 Oct 18,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,8 commodities increased in prices, 35 fell and 57 remained unchanged on 17/10/2019.The largest rises were Lead ingot (0.78%),Palm Oil (0.67%),Tin ingot (0.59%),while the largest falls ...>>>
Crude oil futures stable amid mixed market signals Oct 22,2019
Crude oil futures were largely steady during mid-morning trade in Asia Tuesday amid mixed signals on demand-supply fundamentals. At 10:35 am in Singapore (0235 GMT), ICE Brent December futures were down 2 cents/b (0.03%) from Monday's settle at $58.94/b, while the NYMEX November light sweet crude futures contract was 3 cents/b (0.06%) higher at ...>>>
US Treasury extends Chevron Venezuela oil-sanctions waiver to January 22 Oct 22,2019
The US Department of the Treasury on Monday extended a waiver allowing Chevron and four US oil services companies to continue to operate in Venezuela outside of US sanctions. The waiver, which was extended until January 22, was set to expire on October 25 and some analysts had speculated the Trump administration may have allowed it to expire in ...>>>
Foreign exporters reach into US scrap battery market, pushing up prices: sources Oct 22,2019
Sources in the scrap lead battery market attribute a recent surge in the scrap units' pricing to an increasing number of foreign exporters grabbing up the material from the US market, forcing domestic buyers to scramble to match escalating bids. "It's a huge number that's being exported," an industry source said, estimating the yearly volumes of...>>>
Americas petrochemicals outook, w/c October 21 Oct 22,2019
US OLEFINS With October trading winding down, traders are looking ahead to November. Gulf Coast ethylene prices finished out last week on a strong note, with prices assessed at 24 cents/lb for October, up more than 3 cents/lb from earlier in the week on an unconfirmed production issue. Market structure was backwardated, with November trailing 0.5 ...>>>
Tug of war emerges at FERC over ruling on eminent domain for gas pipelines Oct 22,2019
The Federal Energy Regulatory Commission lacks jurisdiction and would usurp the judiciary's role if it were to weigh in to help PennEast Pipeline overcome a key legal setback in the 3rd Circuit Court of Appeals, state regulators, environmental groups and property rights advocates have told FERC in comments made public Friday and Monday. But tra...>>>
Sliding prices weaken US ethanol crush margin Oct 22,2019
The US ethanol crush margin slid to 11.30 cents/gal Monday from 21.45 cents/gal on October 14. Weaker ethanol prices were the primary driver behind the lower margin, which left producers continuing to eye shutdowns. "It will be interesting," said one source. "Some tough decisions." US ethanol prices came off their highs reached in early Oc...>>>
Bearish mood for US, Colombian participants at Coaltrans event: sources Oct 22,2019
Bearish sentiment marked the mood Monday for Colombian and US thermal coal and petcoke producers and traders at one of Europe's largest trading events. One thermal coal producer-trader source noted that Russian producers were taking a greater share of European and Mediterranean markets, traditionally controlled by US and Colombian producers. ...>>>
Saudi Aramco arm seeking to boost oil trading volumes by a third by 2022: executive Oct 22,2019
Saudi Aramco's trading arm is seeking to boost its traded volumes of crude and refined products by a third to 6 million b/d by 2022 as it hunts for more storage globally, the CEO of the division said on Monday. Aramco Trading Co.'s current volumes average 4.5 million b/d of crude and refined products, Ibrahim al-Buainain told reporters at the co...>>>
Indian vegoil industry body advises against buying Malaysian palm oil Oct 22,2019
The Solvent Extractors' Association of India Monday sent out an advisory to avoid purchases of Malaysian palm oil to its members. "As responsible Indian vegetable oil industry, we avoid purchasing of palm oil from Malaysia till such time clarity on the way forward emerges from Indian Government, "Atul Chaturvedi, president of the Mumbai-based tr...>>>
Algeria's Sonatrach makes case for 'urgent' reform to hydrocarbon sector Oct 22,2019
Algeria's state-owned Sonatrach has made the case for the country's new draft hydrocarbon law, saying the need for reform was "urgent" given the state of the country's reserves and exploration activity. Algeria's cabinet approved the bill on October 13 to reverse declining foreign investment by revising upstream contract terms and tax rates. The...>>>
Gazprom CEO says all legal disputes must be resolved before Ukraine gas transit deal Oct 22,2019
Russia's Gazprom has reaffirmed its stance that it cannot sign a new gas transit agreement with Ukraine's Naftogaz Ukrayiny while the legal disputes between the parties over their 2009 agreement remain unresolved. The current 10-year agreement between Gazprom and Naftogaz expires at the end of 2019, and the European Commission is brokering talks...>>>
100 Spot Commodities Price Chart - 21/10/2019 Oct 22,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,16 commodities increased in prices, 38 fell and 46 remained unchanged on 21/10/2019.The largest rises were White granulated sugar (5.22%),Soybean meal (2.10%),Calcium carbide (2.04%),w...>>>
China's state-owned refineries lift Oct run rate to record high 85.7% Oct 28,2019
The average run rate at China's state-owned refiners Sinopec, PetroChina, Sinochem and China National Offshore Oil Corp. hit a record high of 85.7% in October, edging up from 85.5% in September, a monthly survey by S&P Global Platts showed Friday. The rate was last higher at 87.6% in November 2012. In October 2018, the rate stood at a year-to-da...>>>
US continues to talk with Saudi Arabia on nuclear energy, LNG exports: Perry Oct 28,2019
The US continues to talk with Saudi Arabia about the kingdom's plans to produce nuclear energy for power generation and is still discussing the possibility of Gulf countries importing US LNG, the outgoing US secretary of energy said on Saturday. Next week, Rick Perry will meet in Riyadh with Abdulaziz bin Salman, the energy minister for Saudi Ar...>>>