Americas top stories - weekly summary

27 January 2014 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 25 January 2014.

(Please click on the link to read the full text.)

Argentine energy imports at root of falling peso
Argentina's growing imports of natural gas and fuel have caused its reserves of dollars to dwindle, leading to this week's devaluation of the peso, the worst since the months after the nation's economic crisis in 2001.

Celanese Texas methanol plant start-up may be delayed to Q3 2015
Celanese’s new 1.3m tonne/year joint-venture methanol plant in Texas may start up in the thirdquarter of 2015 because of a delay in obtaing approval from the US Environmental Protection Agency (EPA), the CEO of the US-based chemicals major said.

US PE January contracts settle flat
January contracts in the US polyethylene (PE) market were assessed as flat, after higher feedstock prices and low producer inventory levels following a record month of PE exports in December left buyers with little hope for a price decrease.

US PS Jan prices rise on jump in benzene costs
US polystyrene (PS) contract prices for January were assessed higher, based on rapidly rising feedstock benzene costs.

China, BP venture planning two methanol plants in US northwest
A joint venture backed by a Chinese government agency and BP plans to build two $1bn methanol plants in the US northwest, it was announced.

US February acrylates proposed higher on feedstock
US February acrylates contract prices this week were proposed higher by up to 5 cents/lb ($88-110/tonne), effective 1 February, on feedstock pressure, sources said.

US paraffinic base oil prices drop seasonally slow demand
US paraffinic base oil prices dropped as producers in Group I, Group II, Group II+ and Group III confirmed reductions to posted prices.

North American biodiesel prices rise on gaining energy complex
North American biodiesel prices rose as natural gas and heating oil prices also climbed during the week.

Canada, US agencies urge tougher rules for oil railcar shipments
Canadian and US transportation safety agencies issued recommendations to regulators to improve the shipment of crude oil by rail following a string of accidents, including last year's catastrophe in Quebec where 47 people died.

US EPA agrees to rethink cellulosic ethanol mandate
The US told refiners that it would reconsider its 2013 mandate for consumption of cellulosic ethanol, raising the possibility that gasoline manufacturers might be freed from paying fines for not using biofuels that are unavailable.

US spot ethane prices soar to highest level since 2012
US spot ethane prices at the Mont Belvieu hub in Texas spiked to their highest levels since May 2012.

By: Staff Reporter
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