|
1. Global chemicals output climbs for sixth month
MOSCOW (MRC) -- Data
collected and tabulated by the American Chemistry Council (ACC) show that global
chemicals production rose 1.9% in November, up from 1.7% in October and
extending the recovery that began in June. During November, chemical production
grew in all regions except the Former Soviet Union (FSU), said
Hydrocarbonprocessing. Headline global production was up 3.7% year-over-year
(Y/Y) on a three-month moving average (3MMA) basis and is now 2.9% above the
pre-COVID peak last December. Global output stood at 122.0 percent of its
average 2012 levels. During November, global capacity rose 0.1% and was up 2.2%
Y/Y. With improving production, capacity utilization in the global chemical
industry rose 1.5 points to 82.9%. This is up from 81.7% in October and the
pre-COVID peak in December 2019, but below the long-term (1987-2017) average of
86.5%.
http://www.mrcplast.com/news-news_open-381731.html
2.
Crude falls as COVID-19 concerns take center stage after outbreak in
China
MOSCOW (MRC) -- Crude oil futures tumbled during the mid-morning
trade in Asia Jan. 18, as rising coronavirus cases in China raised fresh
demand-side concerns, while the spread of mutated strains of the virus also
weighed down sentiment in the market, reported S&P Global. At 11:10 am
Singapore time (0310 GMT), the ICE Brent March contract was down 45 cents/b
(0.82%) from the Jan. 15 settle to USD54.65/b, while the February NYMEX light
sweet crude contract was down 38 cents/b (0.73%) to $51.98/b. The Brent marker
had fallen 1.59% in the week ended Jan. 15 to USD55.10/b, whereas the NYMEX
light sweet crude marker had ticked up 0.23% to USD52.36/b. The fall in oil
futures comes as a jump in coronavirus cases in China threatened to derail
crude's demand recovery.
http://www.mrcplast.com/news-news_open-382347.html
3.
Ineos reschedules Antwerp olefins project, cracker to precede PDH
unit
MOSCOW (MRC) -- Ineos says it is rescheduling its EUR5-billion ($6
billion) olefins project at Antwerp, Belgium, and will build the planned
complex’s ethane cracker before its propane dehydrogenation (PDH) plant,
according to Chemweek. When it announced the project in January 2019, Ineos said
the PDH unit and cracker would be built at the same time with the PDH facility
due onstream a year ahead of the cracker. The decision reflects anticipated
demand for ethylene relative to propylene, Ineos says. “There is a growing need
for ethylene, and it makes more sense for us to build the cracker first and then
the PDH unit,” the company says in a statement. “We are simply rephasing the
project.” Ineos confirms that work on the planned complex, called Project One,
is "continuing." Ineos has not provided details of the revised schedule. The
company updated CW in mid-2020 on the Antwerp project and said it was at the
front-end engineering and design (FEED) phase with a final investment decision
expected in 2021. The company awarded a FEED contract to SK Engineering &
Construction for the 750,000-metric tons/year PDH unit, which will use Lummus
Catofin technology.
http://www.mrcplast.com/news-news_open-382294.html
4.
US EPA eyes extending refinery biofuel deadlines, no action on
waivers
MOSCOW (MRC) -- The US Environmental Protection Agency said it
would propose to extend deadlines for refiners to prove compliance with biofuel
laws, but signaled it would not decide on a slew of pending waiver requests
submitted by the industry, reported Reuters. The agency’s proposal represented
mixed news for refiners hard hit by slumping energy demand during the
coronavirus pandemic and eager to sidestep regulatory costs associated with US
biofuel blending policy. It also marks one of the last actions from President
Donald Trump’s EPA before he leaves office on Jan. 20. The agency said it is
proposing to extend the compliance deadline for 2019 biofuel blending
obligations to Nov. 30, 2021, and an associated deadline for submission of
attest engagement reports to June 1, 2022. The EPA is also proposing to extend
the 2020 deadlines to Jan. 31, 2022, and June 1, 2022.
http://www.mrcplast.com/news-news_open-382283.html |
