Chemical News
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NWE styrene rises 8.9% in May on run cuts, producer prompt demand May 15,2013
The Northwest European styrene monomer benchmark has climber $137.50/mt or 8.9% from a year-to-date low of $1,537.50/mt on April 22 to $1,675/mt FOB ARA Tuesday, Platts data showed. The rally was due to a combination of increasing demand and production cuts that fed short-covering appetite by regional producers. As the styrene premium to be...>>>
Chevron Phillips Chemical declares polyethylene force majeure May 15,2013
Chevron Phillips Chemical has declared a force majeure for its polyethylene products, according to a letter to customers Tuesday that was obtained by Platts. The company said in the letter that the move was caused by a "contingency event" to its ethylene production. "We are in the process of evaluating the expected duration and will provide...>>>
Work begins to restore gas output at Australian Nexus' Longtom field May 15,2013
Santos has begun work to restore gas production at the Longtom field off the southeastern Australian state of Victoria, Longtom owner Nexus Energy said in a statement Tuesday. Nexus owns 100% of Longtom, in Victoria's Gippsland Basin, but the field's gas production is processed at the Patricia-Baleen onshore plant, operated by Santos. The field...>>>
Shale gas could play role in EU energy policy if risks minimized: Potocnik May 15,2013
Shale gas could play a role in the EU's future energy policy but only if the health and environmental risks are addressed and minimized, EU environment commissioner Janez Potocnik said Tuesday in a speech at the European Economic Congress in Poland. "The main challenges that have been pointed to concern notably water use, water pollution, air e...>>>
Med gasoline cargoes strengthen on demand from North Africa May 15,2013
The Mediterranean gasoline cargo market has strengthened to a $8.50/mt discount to the Northwest European Eurobob barge market, the narrowest discount since March 22, Platts data shows, following demand into North Africa and potential flows to the Persian Gulf, market sources said Tuesday. The arbitrage to the Arab Gulf is open, but North Afric...>>>
OPEC should consider longer-term market at next meeting: IEA's van der Hoeven May 15,2013
OPEC ministers should consider the needs of the global oil market in a year's time, rather than just the current demand/supply balance, when they meet to review the cartel's production ceiling in two weeks, the head of the International Energy Agency Maria van der Hoeven said Tuesday. "It's up to them," van der Hoeven said when asked if OPEC sh...>>>
China 100 Spot Commodities Price Chart - 13/05/2013 May 14,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,25 commodities increased in prices, 22 fell and 53 remained unchanged on 13/05/2013.The largest rises were Hydrochloric acid (4.23%),Natural rubber (1.47%),Soda ash (0.77%),while the...>>>
Thailand's PTT Vietnam refinery project moves one step closer May 14,2013
Vietnamese Prime Minister Nguyen Tan Dung has agreed in principle to the construction of a huge refinery and petrochemical complex by Thailand's PTT in the central Vietnamese province of Binh Dinh, a senior regional politician said Sunday. "According to the latest information I have just obtained, the prime minister has formally signed a docume...>>>
Central American ethanol shipment to land in Europe by late May: report May 14,2013
A tanker carrying around 10,000 mt (12,680 cu m) of ethanol loading in the west coast of Central America is due for arrival in the European ports of Amsterdam-Rotterdam-Antwerp by late May, according to a shipping report by broker SPI Marine. Ethanol supply from countries such as Peru, Guatemala and Costa Rica have duty free access to the EU ma...>>>
US ethylene cracker margins rise on production outages, drop in feedstock costs May 14,2013
US ethylene margins climbed for the week as production issues over the weekend pushed spot markets higher Monday. Power outages were reported at Flint Hills Resources in Port Arthur, Texas, and at Chevron Phillips Chemicals' Sweeny complex. The outages took place Saturday and were expected to last several days. Additionally, US Gulf Coast N...>>>
International Chemical Exhibition
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