20 June 2012 17:13 [Source: ICIS news]
Speaking at the 7th ICIS World Phenol-Acetone Conference in
“The chemical industry in
He added that from 2007-2010, the majority of industrial sectors in Spain decreased in sales revenues – some by nearly 50% - while the chemical industry grew by 6.9%, despite economic instability.
“Even though we [the chemical industry] are performing better than other sectors, we are still suffering because of the crisis,” Iturrieta said.
He said that confidence in EU industry has largely fallen since 2008, with consumer and construction confidence dipping most significantly.
“The feeling of the consumer has been negative since 2002,” he added.
Iturrieta said the situation in Europe is better than
Iturrieta said that smart regulation was required in order to improve competitiveness, adding that there are many regulations generated without the mandatory impact evaluation, which restricts the industrial activity in
Iturrieta spoke of the trends in chemical production in
“This has resulted in legal insecurity, the break up of the single market and many administrative charges,” he added.
Iturrieta said a high tax burden is another negative factor for competitiveness, as corporation tax in
“This dependence on the fluctuations of oil and gas prices adds exposure towards producing countries,” Iturrieta added.
He said there needs to be more focus on improvement in infrastructures and transportation. “We need to have the right system of transportation. And we don’t have it,” he added.
Iturrieta said: “
CEPSA has the capacity to produce 600,000 tonnes/year of phenol and 370,000 tonnes/year of acetone.
The company has activities in the energy sector covering the whole chain from exploration and production of hydrocarbons, natural gas and electricity to oil refining and marketing of derivatives and petrochemicals.
The 7th ICIS World Phenol-Acetone Conference runs from 19-20 June.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections