Chemical News
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Burst of new oil projects could lift Azeri, Kazakh oil output May 31,2018
International companies vowed Wednesday to push ahead with new Caspian projects including exploration offshore Azerbaijan, a possible new platform at the flagship ACG fields, and a tentative commitment to raise production at Kazakhstan's giant Kashagan field beyond the current 370,000 b/d target. Equinor signs new Azeri exploration deals BP c...>>>
IEA raises estimate of oil demand impact from electric vehicles May 31,2018
The International Energy Agency has raised its estimates for the impact of electric vehicles on global oil demand, bringing forward a previous forecast by a decade, as EV sales continue to surge. EVs to displace 2.5 million b/d of oil demand by 2030 Global EV car stock rose above 3 million in 2017 Further policy support, cost reductions to s...>>>
Bakken crude differentials soar on widening Brent-WTI spread May 31,2018
Bakken crude differentials for delivery in July rose sharply Wednesday to multi-month highs, flipping to a premium to the NYMEX WTI calendar-month average amid further widening Brent-WTI crude spreads, with Williston barrels rising to parity with Clearbrook for the first time. Bakken had a very active spot market, with differentials heard going ...>>>
Japan's Mitsui Chemicals, Prime Polymer to build new polypropylene plant in Netherlands May 31,2018
Japan's Mitsui Chemicals and Prime Polymer, in which Mitsui Chemicals has a 65% stake, announced plans to jointly establish a company to build a new polypropylene plant in the Netherlands, the companies said in a joint statement Wednesday. The plant's capacity will be 30,000 mt/year and operations are expected to start in June 2020. The new c...>>>
Analysis: Australia mulls LNG imports; inflow will alter trade flows, regional markets May 31,2018
Australian energy companies are considering LNG imports to meet a shortfall in domestic gas supply, a move that will impact regional gas markets, trigger new trade flows and influence pricing decisions for the players involved. In an unusual turn of events, Australia could end up importing LNG shortly after topping Qatar as the world's largest L...>>>
Rover pipeline in-service would lift gas storage, ETP tells US FERC May 31,2018
Placing into service additional segments of the Rover gas pipeline now completed would unlock 850 MMcf/d of incremental capacity and gas supply, helping to refill natural gas storage, Energy Transfer Partners told the US Federal Energy Regulatory Commission Wednesday. The comments, in a supplemental filing with FERC, reflect the operator's sense...>>>
Flows of US LPG to NWE in H1 June expected to hit 100,000 mt May 31,2018
Flows of LPG from to Northwest Europe in the first half of June the US Gulf Coast were expected to hit just over 100,000 mt, keeping arrivals at least even with May, according to market sources and data from Platts cFlow, trade flow software. Those forecast arrivals were concentrated in the first week of June and include two VLGCs and a Handysiz...>>>
Biofuel makers sue EPA over small refinery waivers to Renewable Fuel Standard May 31,2018
US biofuel and farm groups asked a federal appeals court Wednesday to review waivers granted to oil refineries in Oklahoma, Utah and Wyoming exempting them from the US renewable fuel mandate. The groups contend that the Environmental Protection Agency's accelerated use of hardship waivers to the Renewable Fuel Standard has eroded biofuel blendin...>>>
100 Spot Commodities Price Chart - 30/05/2018 May 31,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,19 commodities increased in prices, 35 fell and 46 remained unchanged on 30/05/2018.The largest rises were Cotton Lint (1.72%),Styrene (1.48%),Tin ingot (1.43%),while the largest falls...>>>
Iran would exit OPEC deal if US sanctions cut its oil output Jun 01,2018
Iran is taking a firm line with its OPEC counterparts that could threaten the current 24-country crude producer alliance, warning members not to take its market share it risks losing under US sanctions. * Seeks support over "illegal" US sanctions * Threatens to exit deal if market share hurt * Calls for full consensus from OPEC Oil mini...>>>
Oil and gas sector worries of accelerating impacts as White House expands steel tariff reach Jun 01,2018
Oil and gas industry interests feared higher materials costs, supply chain headaches and risks to trading relationships, following the Trump administration's decision to expand steel and aluminum tariffs to cover the European Union, Canada and Mexico. President Donald Trump decided to impose 25% tariffs on steel imports from Canada, Mexico and t...>>>
FERC partly grants Rover natural gas pipeline request, allows full service on mainline, start of supply conne Jun 01,2018
The US Federal Energy Regulatory Commission partly granted Rover Pipeline's request to bring additional segments into service Thursday morning, but held off on giving the go-ahead for two key laterals where restoration is ongoing. FERC's Office of Energy Projects said Rover could begin full service on Mainline B of the project and start up servi...>>>
California PUC clears way for electric vehicle projects worth $738 million Jun 01,2018
The California Public Utilities Commission on Thursday approved $738 million worth of utility projects to electrify the transportation system, including programs aimed at residential charging and fast charging. "I think the proposed decision overall is consistent with our guidance and balances well these competing aims of accelerating EV adoptio...>>>
Europe's largest battery starts in Germany with 48-MW capacity Jun 01,2018
Europe's largest battery, a 48-MW unit in Northern Germany, is now ready to supply reserve capacity to the European electricity grid, Dutch utility Eneco said Thursday. German utility-scale batteries set to double this year Batteries mainly provide balancing control for TSOs The battery is in Jardelund near the Danish border in a region with...>>>
Turkish petcoke imports sink 54.8% on month: customs Jun 01,2018
Turkey imported 237,841 mt of petcoke in April, up 14.5% on the year but down 54.8% on the month, according to customs data Thursday. It was the largest month-on-month drop since S&P Global Platts began collecting the data in 2013. The majority of imports were from the US at 173,895 mt. This is down 63% on the month but up 2% on the year. ...>>>
Russian Ust Luga coal terminal maintenance won't limit exports: sources Jun 01,2018
Ust Luga's export capacity is 20 million mt/year, according to the terminal's website. A European utility-trader said coal prices were unlikely to be affected as the temporary reduction in capacity was small compared with overall volumes being shipped from the terminal. "I have seen [the terminal's] export capacity on paper and the reality of...>>>
Dry bulk: US-China trade dispute, truck strikes, coal rules halt Panamax action Jun 01,2018
The US Gulf Coast-to-China grains run has remained torpid as a result, with little activity reported by shipping sources. Adding further uncertainty to the market, the US declaration came at a time when grain shipments have been trimmed not only in the US, but also in South America. A major soybeans supplier, Brazil, has seen a strike by truc...>>>
Newest steel tariffs could undercut chemical projects: ACC Jun 01,2018
The trade group for US chemical manufacturers Thursday decried the Trump administration's decision to impose steel and aluminum tariffs on Canada, Mexico and the European Union, saying more-expensive building materials could undercut advantages that prompted companies to build a slew of petrochemical facilities in Texas, Louisiana and Pennsylvania....>>>
Combined coal stocks held by China's 6 key power generators rise 0.6% on week Jun 04,2018
Combined coal stocks held by China's six key coal-fired power generators in southern and eastern China totaled 12.66 million mt Thursday, up 0.6% from 12.58 million mt a week earlier, data released by port operator Qinhuangdao Port showed Thursday. The six key power generators are Zhejiang Power, Shanghai Power, Guodian, Datang, Huaneng and Guan...>>>
California PUC clears way for electric vehicle projects worth $738 million Jun 04,2018
Pacific Gas and Electric will install equipment at 700 commercial and industrial sites to serve 6,500 vehicles, and Southern California Edison will install equipment at 870 sites to serve 8,500 vehicles, Peterman noted at the meeting. As part of these programs, PG&E and SoCal Ed agreed to adopt price signals or other load management techniques t...>>>