Chemical News
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Braskem proposes lower dividend amount Sep 06,2019
Brazilian petrochemical producer Braskem this week proposed paying a lower dividend to shareholders amid financial uncertainties stemming from fallout from geological damage that a government report linked to the company's salt mining operations and a worsening global petrochemical industry outlook. The company's management has recommended payin...>>>
Repsol says decommissioning burden weighs on UK expansion prospects Sep 06,2019
Spain's Repsol is looking to the UK government for support with decommissioning and its tax treatment as it considers whether to add to a mature upstream business it has successfully turned around, upstream executive managing director Tomas Garcia Blanco has told S&P Global Platts. Repsol bought into the North Sea when it acquired heavily indebt...>>>
Mongolia eyes higher value coking coal exports; logistics key challenge Sep 06,2019
Mongolia's coking coal exports remain an integral part of the country's export income and increased efforts are needed to compete against other coal-producing nations and solve challenging transportation issues, senior executives from trade associations and mining companies said Thursday at the 9th Coal Mongolia conference at Ulaanbaatar, Mongolia....>>>
Russia's Severstal adds licenses to extend Vorgashorskaya coking coal mine's life Sep 06,2019
Russian mining and steel company Severstal has extended the life of one of its six coking coal mining assets by five years, from 2024 to at least 2029, with the acquisition of licenses for two sites adjacent to its Vorgashorskaya mine, a spokeswoman for Severstal told S&P Global Platts Thursday. The company's Vorkutaugol mining subsidiary has ac...>>>
UK regulator hits EGM with fine over trader's gas market manipulation Sep 06,2019
The UK energy regulator Ofgem has fined trading company Engie Global Markets (EGM) GBP2.1 million ($2.58 million) after an investigation found that a trader working for EGM had manipulated UK wholesale gas prices to increase trading profits. EGM agreed to settle the case early and has proactively taken measures to prevent such activity from happ...>>>
100 Spot Commodities Price Chart - 05/09/2019 Sep 06,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,32 commodities increased in prices, 14 fell and 54 remained unchanged on 05/09/2019.The largest rises were Xylene (6.20%),Toluene (4.07%),DME(3.99%),while the largest falls were Chloro...>>>
UAE minister says he 'wouldn't suggest' more oil cuts amid US-China tensions Sep 09,2019
UAE energy minister Suhail al-Mazrouei on Sunday downplayed the possibility of deeper OPEC production cuts as a key ministerial committee gets set to meet later this week with oil prices still struggling around $60/b. OPEC, Russia and nine other non-OPEC allies are in the midst of a 1.2 million b/d production cut accord scheduled to run through ...>>>
Heat wave combines with low wind output to send ERCOT prices soaring Sep 09,2019
As a heat wave continued to plague the Electric Reliability Council of Texas with triple-digit high temperatures Friday afternoon, output from ERCOT's 22-GW wind fleet plunged to less than 1.2 GW, resulting in real-time prices soaring into quadruple digits for almost two hours. As of about 4 pm CDT, temperatures were 101 degrees Fahrenheit in Au...>>>
T. Parker Host subsidiary to buy United Bulk Terminals Davant facility Sep 09,2019
Host Davant, a subsidiary of T. Parker Host, has reached an agreement to acquire Marquard & Bahls' United Bulk Terminals Davant facility, according to a company statement Friday. The Norfolk, Virginia-based shipping agency said in the statement that the "transition is underway, and the closing is expected within 30 days." The Davant facility, w...>>>
US total corn net export sales fall 70% on week, under expected range Sep 09,2019
US net export sales of corn for both old crop and new crop for the current and next marketing year totaled 250,844 mt in the week that ended August 29, down 70% from the previous week, US Department of Agriculture data showed Friday. Of that total, 165,854 mt were canceled from previous sales for the current 2018-19 marketing year or the old cro...>>>
Buckeye says damage is minor at its Bahamas facility after Dorian Sep 09,2019
Buckeye Pipeline Partners said Friday that initial inspections of its petroleum storage facility in Freeport, Bahamas, after Hurricane Dorian showed only minor damage from wind and rain and no indication of product release. "A complete assessment of storm impacts to the facility is currently being undertaken," the company said in a statement. B...>>>
Workers returning to Elba LNG export facility in Georgia: Kinder Morgan Sep 09,2019
Kinder Morgan's Elba Liquefaction planned to resume work Friday to get the Georgia LNG export facility ready to begin commercial service, days after evacuating crews due to the threat from Hurricane Dorian. Inspections found that the facility near Savannah, Georgia, did not suffer any damage, spokeswoman Katherine Hill said in an email respondin...>>>
EU CO2 prices fall in Week 36 as supply rebounds Sep 09,2019
EU carbon dioxide allowance prices fell in the week ending September 6, coming under pressure as supply from government auctions rebounded after August's reduced sales. EU Allowance futures contracts for December 2019 delivery on the ICE Futures Europe exchange fell as low as Eur24.85/mt ($27.45/mt) Friday, compared with Eur26.32/mt at the close...>>>
Dutch parliament to debate Groningen gas field quota Thursday Sep 09,2019
The Dutch parliament is expected to debate the government's latest policy on production caps at the giant onshore Groningen field on Thursday next week, a spokesman at Dutch gas grid operator Gasunie Transport Services (GTS) said Friday. Dutch economy minister Eric Wiebes -- who will have the final say on how much gas can be produced at Groninge...>>>
VW, Northvolt sign 50/50 JV for German EV battery factory Sep 09,2019
In a quest to empower Europe's electric-vehicle supply chain, Volkswagen and Northvolt have finalised a 50/50 joint venture to build a "gigafactory" for lithium-ion batteries in Germany. Construction of the production facility is scheduled to start in Salzgitter, Lower Saxony, in 2020, with the start of production planned for the end of 2023 or ...>>>
Norwegian Troll gas impacted by 'delayed startup' during works: Gassco Sep 09,2019
Natural gas production from Norway's giant Troll field continued to be curtailed on Friday, as over-running annualmaintenance works on the asset further disrupted the planned summer schedule. An update from offshore Norwegian network operator Gassco indicated that production availability will be reduced by 112.5 million cu m/d Friday and 100 mil...>>>
Iraq says it will reduce oil production starting in October Sep 09,2019
Iraq is committed to reducing oil production in line with OPEC and non-OPEC cuts, and will begin drawing down output as of October, the country's oil minister said Sunday. Iraq needed to raise production over the summer months to meet domestic demand, Thamir Ghadhban said in a statement to S&P Global Platts. Output will decline in the next few m...>>>
100 Spot Commodities Price Chart - 06/09/2019 Sep 09,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,34 commodities increased in prices, 16 fell and 50 remained unchanged on 06/09/2019.The largest rises were Phosphorus yellow (4.92%),Cobalt (3.31%),PA (2.31%),while the largest falls w...>>>
Surface Transportation Board plans hearing over railroad revenue adequacy procedures Sep 16,2019
The Surface Transportation Board said late Thursday it will hold a hearing on its railroad revenue adequacy procedures after a report released by its Rate Reform Task Force. The hearing will be held December 12 in Washington, D.C. The RRTF recommended in the report released April 25 that STB "establish a definition of long-term revenue adequa...>>>
White House ethics guidance unexpectedly stymies FERC's Glick Sep 16,2019
Just as a White House ethics waiver appeared to ease the risk of quorum lapses at the Federal Energy Regulatory Commission, clearing one member to participate on more orders, another commissioner has found himself steeped in recusal issues over an apparent misinterpretation of the Trump ethics pledge. This could prove challenging for PJM Interco...>>>