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COVID-19 - News digest as of 21.04.2020

April 21/2020

1. Russian PVC producers adjust their plans for shutdowns for maintenance

MOSCOW (MRC) -- Due to the spread of coronavirus, two Russian polyvinyl chloride (PVC) producers adjusted their plans for scheduled shutdowns for maintenance, according to ICIS-MRC Price report. The plants" representatives and customers said Kaustik (Volgograd) and RusVinyl revised their plans for scheduled turnarounds at their PVC production capacities. The Volgograd producer intends to start maintenance earlier than originally planned, and the Nizhny Novgorod manufacturer rescheduled the outage at a later date.

http://www.mrcplast.com/news-news_open-369506.html

2. China doubled crude oil storage inflows during coronavirus demand hit

MOSCOW (MRC) -- Rather than cutting back on imports, China pushed crude oil into storage tanks at almost double the rate in the first quarter of this year than it did in the same period in 2019 as the new coronavirus hit domestic consumption, reported Reuters. China doesn�t release official data on flows into strategic and commercial stockpiles, but an estimate can be made by subtracting the amount of crude processed by refineries from the total volume of oil available from both imports and domestic output.

http://www.mrcplast.com/news-news_open-369455.html

3. China doubled crude oil storage inflows during coronavirus demand hit

MOSCOW (MRC) -- Rather than cutting back on imports, China pushed crude oil into storage tanks at almost double the rate in the first quarter of this year than it did in the same period in 2019 as the new coronavirus hit domestic consumption, reported Reuters. China doesn�t release official data on flows into strategic and commercial stockpiles, but an estimate can be made by subtracting the amount of crude processed by refineries from the total volume of oil available from both imports and domestic output.

http://www.mrcplast.com/news-news_open-369455.html

4. Twelve oil majors to slash capex by USD43.6B amid price collapse, coronavirus

MOSCOW (MRC) -- The massive plunge in oil prices amid the price war between OPEC and Russia and a drastic decline in oil demand due to the global coronavirus pandemic has forced the world"s top integrated oil and gas majors to take swift and dramatic measures to preserve cash and protect their balance sheets, reported S&P Global. As of April 7, 12 of the world"s largest public oil and gas companies by market value have announced specific cuts to their 2020 capital spending programs, totaling approximately USD43.6 billion, as global crude prices have tumbled below USD30 per barrel.

http://www.mrcplast.com/news-news_open-369014.html

5. Chemical Industry outlook: uncertainty and downside risks linked to COVID-19

MOSCOW (MRC) -- The American Chemistry Council (ACC) released an abbreviated, interim update to its Chemical Industry Situation and Outlook. The update offers two scenarios intended to capture a range of potential trajectories for the global and U.S. economies and the chemical industry, said Americanchemistry. �ACC typically updates our economic forecast twice a year, but we wanted to provide an interim update that would reflect some of the potential impacts of COVID-19,� said Kevin Swift, ACC chief economist. �While there is significant uncertainty in the projections, short-term risks are to the downside before a possible rebound in 2021."

http://www.mrcplast.com/news-news_open-369460.html

6. Oil mixed as Chinese data offsets Trump plans to ease lockdown

MOSCOW (MRC) -- Oil prices were mixed on Friday as China�s worst quarterly economic contraction on record offset President Donald Trump�s plans to revive the U.S. economy, said Reuters. Brent rose by 41 cents, or 1.5%, to USD28.23 a barrel by 1347 GMT, while U.S. crude CLc2 for June was down 24 cents, or 0.9%, at USD25.29. The less active U.S. crude contract CLc1 for May tumbled by USD1.77, or 8.9%, to USD18.10, attributable to the imminent expiry of the contract on April 21 and fast-filling crude storage.

http://www.mrcplast.com/news-news_open-369397.html

7. Dow develops simplified, lightweight design for face shields to help protect healthcare professionals

MOSCOW (MRC) -- Dow develops simplified, lightweight design for face shields to help protect healthcare professionals, shares open-source design to encourage additional production, said Hydrocarbonprocessing. To help address the urgent need for personal protective equipment (PPE) among healthcare professionals battling the COVID-19 pandemic, Dow developed a simplified face shield design and is sharing its design through an open-source file to help accelerate production rates of this critically-needed PPE. In addition, the Company is collaborating to produce 100,000 face shields for donation to the state of Michigan for distribution to hospitals.

http://www.mrcplast.com/news-news_open-369405.html

8. Canada cuts steam-driven oil projects, risking permanent damage

MOSCOW (MRC) -- Canada�s steam-driven oil facilities are bearing the brunt of output cuts as the industry copes with low prices, and deeper reductions may risk permanent damage to the sites, said Hydrocarbonprocessing.The COVID-19 pandemic has severely cut fuel demand as the global economy slows, leading refiners to reduce purchases of crude. Canada, the world�s fourth-largest oil producer, has started slashing production, but analysts say the biggest cuts lie ahead.

http://www.mrcplast.com/news-news_open-369462.html


mrcplast.com
Author:Margaret Volkova
Tags:PVC, crude and gaz condensate, EPVC, SPVC, petrochemistry, adhesives, Rusvinyl, Nizhni Novgorod, Dow, Kaustik Volgograd, Sayanskkhimplast, COVID-19, Canada, China, USA.
Category:General News
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