Europe top stories – summary

13 May 2013 09:00  [Source: ICIS news]

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 12 May 2013.

Europe naphtha trades up $50/t in a sustained week-long bull run
Europe naphtha cargoes traded up by $50/tonne (€39/tonne) week on week, rallying somewhat from a 9% price drop in April as the bulls overrode the bears in a seller's market, industry sources said this week.

Polish shale gas pull-outs not necessarily tragic - bank
The decision of two more North American energy firms to end their shale gas exploration operations in Poland means less capital and know-how will be available to the country as it tries to unlock its unconventional gas reserves, a bank said on Thursday.

LANXESS looks at cost savings as weak demand hits net profit
Germany-based specialty chemicals producer LANXESS is planning to implement cost-saving measures in its Performance Chemicals segment after posting lower earnings in the first quarter of 2013, it said on Wednesday.

Solvay shares rise on PVC JV announcement with INEOS
Solvay’s shares rose on Tuesday after it was announced the Belgium-based chemicals producer has signed a letter of intent with Switzerland-headquartered INEOS to combine their chlorvinyls businesses into a 50:50 joint venture.

Freight train carrying acrylonitrile for DSM derails in Belgium
A freight train carrying acrylonitrile (ACN) for Dutch chemicals firm DSM derailed near Ghent in Belgium on Saturday, causing a series of explosions and chemical fumes to leak, according to official statements and local media reports.

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By: Staff Reporter
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