28 January 2011 17:15 [Source: ICIS news]
Correction: In the ICIS story headlined: "INSIGHT: ICIS data show strong petchem price and margin gains in 2010" dated 28 January 2011, please read on the legend to the second chart ... NE Asia (Naphtha, spot, US$/t) ... instead of ... NE Asia (Naphtha, contract, US$/t) ... a corrected story follows.
By Nigel Davis
ConocoPhillips’ CPChem joint venture with Chevron said this week that it had benefited from significantly improved ethylene (C2) margins in the fourth quarter. The
Currently, the petrochemical industry remains on a roll, with product prices in Europe and in
ICIS cracker variable margin data also show how strongly olefins producers have been performing, particularly in
The margins generated on ethane cracking in the
Petrochemical producer profit margins are likely to have reached a
Volume demand is expected to have declined somewhat in quarter four although the demand pull from
Fourth-quarter and full-year 2010 ethylene production in
The ICIS Petrochemical Index (IPEX) broke the 300 mark in January for the first time since the end of 2008 when it hit a record. And in January 2011, the index was up yet again, by 2.2% on December 2010.
A regional breakdown of the index shows prices tracking higher in all regions in the second half of 2010, with prices in Europe largely ahead of those in Asia and the
ICIS data show European naphtha-based cracker variable margins improving in the second and third quarter of 2010 but declining in the fourth quarter of the year.
US ethane-based cracker margins improved somewhat in the fourth quarter compared with the third quarter and were higher than the liquids-based cracker margins generated in
The ICIS variable margin data also illustrate the advantage that can be gained from cracking ethane feedstock in the
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