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COVID-19 - News digest as of 15.10.2020

October 15/2020

1. Henkel's adhesives business achieved sales growth in third quarter

MOSCOW (MRC) -- Henkel has provided a business update for the third quarter and says that, based on preliminary figures, its adhesive technologies business unit achieved positive organic sales growth of 1.3% in the quarter, said Chemweek. All business areas in adhesive technologies showed a recovery in demand compared with the second quarter, the company says. Henkel notes that in the first nine months of 2020, adhesive technologies recorded a 6.8% decline in organic sales. Despite the continued challenging economic environment as a result of the corona crisis, based on preliminary sales figures, Henkel delivered a strong organic sales growth of plus 3.9% in the third quarter. Sales reached around EUR5.0 billion [USD5.9 billion] and all business units contributed to the good performance, says Carsten Knobel, CEO at Henkel. Based on the preliminary business performance in the first nine months, Henkel has provided new guidance for 2020, following the withdrawal of its full-year guidance in April due to the high level of uncertainty caused by the COVID-19 pandemic.

http://www.mrcplast.com/news-news_open-377474.html

2. Crude edges lower in Asia trade as OPEC+ comment dashes output cut hopes

MOSCOW (MRC) -- Crude oil futures edged lower in mid-morning trade in Asia Oct. 14 as comments dashing hopes of an extension to the current OPEC+ production cut countered strong China import data that had fueled sharp overnight gains, reported S&P Global. At 11.05 am Singapore time (0305 GMT) ICE Brent December crude futures were down 17 cents/b (0.4%) from the Oct. 13 settle at USD42.28/b, while the NYMEX November light sweet crude contract was also down 17 cents/b (0.42%) at USD40.03/b. The benchmarks had settled 1.75% and 1.95% higher, respectively, Oct. 13.

http://www.mrcplast.com/news-news_open-377670.html

3. Chevron to stay wedded to shale, for 'incredible flexibility': CEO

MOSCOW (MRC) -- Chevron CEO Mike Wirth on Oct. 13 defended the company's commitment to shale and said its upstream portfolio would remain weighted toward tight oil and gas, with fewer large, non-shale projects than in the past, while he acknowledged a less "enthusiastic" outlook for the shale sector generally, reported S&P Global. Speaking during the Energy Intelligence Forum, previously Oil & Money, Wirth said he did not foresee US crude oil production getting back in the next couple of years to its record highs of 13 million b/d before the coronavirus pandemic. He also said the major's entry into Israel, with the recent purchase of Noble Energy, fit with a trend toward more cooperation in the region, apparently referring to recent diplomatic moves in the Middle East, as well as multiple opportunities to meet gas demand.

http://www.mrcplast.com/news-news_open-377673.html

4. Total to sell Lindsey refinery in the UK to Prax Group

MOSCOW (MRC) -- Total has agreed to sell its Lindsey refinery in the UK to fuel trader and marketer Prax Group, as the French oil major focuses on its integrated downstream assets and the coronavirus adds to the uncertainty over long-term demand for fuel, according to S&P Global.

http://www.mrcplast.com/news-news_open-377751.html


mrcplast.com
Author:Margaret Volkova
Tags:Asia, Europe, crude and gaz condensate, petrochemistry, Chevron, Henkel, Total Petrochemicals, COVID-19, USA.
Category:General News
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