Chemical News
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US President Donald Trump cancels Singapore summit with North Korea's Kim Jong Un May 25,2018
US President Donald Trump on Thursday canceled a summit with North Korean leader Kim Jong Un planned for Singapore in June. It would have marked the first meeting between a sitting US president and a North Korean leader. The recent thawing of tensions on the Korean peninsula had spurred optimism about a potential opening of trade between the ...>>>
Analysis: Profitability for UK coal plants for Winter 2018/19 rises May 25,2018
The UK front-season Clean Dark Spread (CDS) hit a 1.5-year high this week as power prices surged amid bullish oil and gas markets, making UK coal-fired generation increasingly attractive because coal gains have been much more moderate than gas when looking at the elevated energy complex, traders said. Clean-dark spread for W18 highest in 1.5 yea...>>>
Arizona's Palo Verde-2 reactor shut after rod drops into core, to restart at weekend May 25,2018
Arizona Public Service's 1,406-MW Palo Verde-2 nuclear reactor in Wintersburg, Arizona, remained shut Thursday automatically tripping at 11:28 am MDT (1728 GMT) Wednesday after a control rod dropped into the core during testing, company spokesman Alan Bunnell said. "No major equipment was inoperable prior to the event that contributed to the eve...>>>
US natural gas storage increases 91 Bcf to 1.629 Tcf: EIA May 25,2018
US natural gas in storage increased by 91 Bcf to 1.629 Tcf for the week ended May 18, the US Energy Information Administration reported Thursday. The build was slightly less than an S&P Global Platts' survey of analysts, which called for a 93-Bcf addition. Responses to the survey ranged for an injection of 97-102 Bcf. For the third week in a...>>>
TransCanada says NGTL expansion gets boost from regulatory action on Montney gas project May 25,2018
TransCanada said Thursday a decision by Canadian regulators advances its efforts to boost pipeline capacity for natural gas producers in Western Canada to serve downstream markets with additional supplies of the power plant fuel. The development comes amid increased interest in the Montney shale. While the resource play has produced gas since 19...>>>
US intermediate pricing hits 13-year high on supply constraints, limited imports May 25,2018
The US acetic acid spot price hit a 13-year high this week on the back of supply constraints, force majeure, price increases and a strong stable methanol market. The AA spot price was assessed Thursday at $1,055-$1,065/mt FOB USG, up $110/mt on the week. It reached the highest level since October 2005, according to S&P Global Platts data. One...>>>
Braskem, Odebrecht deny receiving buyout proposal from LyondellBasell May 25,2018
Brazil's Braskem said Thursday that engineering and construction firm Odebrecht, its majority owner, denies receiving a proposal from LyondellBasell to buy its shares earlier this year. Braskem said in a regulatory filing it approached Odebrecht in light of a report published Thursday in Brazil's Valor Economico newspaper saying LyondellBasell h...>>>
100 Spot Commodities Price Chart - 24/05/2018 May 25,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,17 commodities increased in prices, 21 fell and 62 remained unchanged on 24/05/2018.The largest rises were Chloroform (2.80%),Fuel Oil (2.61%),Lead ingot (2.15%),while the largest fall...>>>
News Indonesia to raise biodiesel blending to 25% in 2019 surprises industry sources May 28,2018
The news that Indonesia will make it mandatory for gasoil to have a blend of 25% biodiesel from 2019 from the current 20% was greeted with surprise and some optimism by Indonesian industry players on Friday. Reuters in Indonesia reported that it had sent questions regarding the biodiesel blending mandate to the Indonesian Ministry of Energy and ...>>>
Combined coal stocks held by China's six key power plants down 3.5% on week May 28,2018
Combined coal stocks held by China's six key coal-fired power generators in southern and eastern China totaled 12.58 million mt Thursday, down 3.5% from 13.04 million mt May 17, according to figures released by port operator Qinhuangdao Port late Thursday. The six key power generators are: Zhejiang Power, Shanghai Power, Guodian, Datang, Huanen...>>>
Novak says OPEC pact favors days, not barrels, to measure stocks May 28,2018
The OPEC coalition is leaning toward switching to looking at number of days of stock consumption rather than an average of barrels in storage as it mulls changes to the measurement of market balancing, Russian energy minister Alexander Novak said Friday. Related feature -- St Petersburg Economic Forum: Roundup The group is also looking into a...>>>
Russia, oil majors slam sanctions as damaging market, price stability May 28,2018
The widening use of sanctions globally, including against Iran, Venezuela and Russia, can be destructive to global oil markets, posing risks to future oil supply security and potentially pushing oil prices to record highs, top oil market players said Friday. Russia sees fair price at $60/b: Putin Sanctions pose supply shortage risks: Novak Geopo...>>>
Weekly US coal train loadings up 2% on week, 3.1% on year: STB May 28,2018
US coal train loadings increased to a five-week high for the week ended May 18, due to a rise in shipments from Central Appalachia, Powder River and Illinois Basins, data from the Surface Transportation Board showed Friday. Data filed to the STB by the four major Class I railroads -- CSX, Union Pacific, BNSF and Norfolk Southern -- show US coal ...>>>
Gunvor's ClearOcean Tankers orders six scrubber-ready tankers ahead of IMO 2020 rule May 28,2018
Global commodities trader Gunvor Group said Tuesday it was joining the rising number of companies in the shipping sector opting for scrubbers to comply with the International Maritime Organization's global sulfur limit rule for marine fuels. ClearOcean Tankers, a new ship holding company formed by Gunvor Group with Oceangold Tankers and Maas Cap...>>>
Analysis: NWE polyethylene terephthalate market set for a supply drought amid feedstock purified terephthalic May 28,2018
The European polyethylene terephthalate market is set to face a supply drought in the foreseeable future amid lingering scarcity of feedstock purified terephthalic acid in the region. BP's PTA force majeure remains amid power failure PET producers at 20% allocations on PTA from BP Opportunity for Indorama as PTA, PET crisis unfolds This dev...>>>
Sibur and Gazprom finalize 20-year ethane deal in the Far East May 28,2018
Russian petrochemical producer Sibur and gas company Gasprom signed a final agreement on long-term ethane supplies at the St Petersburg International Economic Forum Friday. Related feature -- St Petersburg Economic Forum: Roundup The companies signed a preliminary agreement in February outlining plans for a supply of 2 million mt of ethane pe...>>>
US May propylene contracts settling up 5 cents/lb as participants actively renegotiate May 28,2018
Additional May propylene contacts settlements have emerged at increases of 5 cents/lb, as some buyers and sellers are trying to renegotiate contracts following an initial settlement earlier in the week, with talk that a split settlement was not out of the question, market sources said Friday. The 5 cents/lb settlement, if accepted marketwide, wo...>>>
First Quantum Minerals withdraws from Pebble copper/gold project in Alaska May 28,2018
Northern Dynasty Minerals Ltd and First Quantum Minerals Ltd announced Friday they have terminated an agreement under which the latter would have become a partner in the former's Pebble copper/gold project in Alaska. The two companies "have been unable to reach agreement on the option and partnership transaction contemplated in the December 15, ...>>>
100 Spot Commodities Price Chart - 25/05/2018 May 28,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,27 commodities increased in prices, 28 fell and 45 remained unchanged on 25/05/2018.The largest rises were Fuel Oil (2.81%),Nickel (2.42%),Coke (1.61%),while the largest falls were Eth...>>>
Japan's Jogmec, Socar to sign on upstream cooperation in Azerbaijan: METI May 29,2018
State-owned Japan Oil, Gas and Metals National Corp. will sign on Wednesday a memorandum of cooperation with Azerbaijan's state-owned Socar to explore upstream potential in the Caspian oil and gas producing country, the Ministry of Economy, Trade and Industry said Monday. Under the MOC, Jogmec and Socar will jointly cooperate to run seismic geol...>>>