By John Richardson PERHAPS the most important recent single paragraph of analysis, in the huge volume of analysis out there about oil markets, was this from Nick Cunningham in a 24 December article on oilprice.com: The [global crude] inventory surplus [OECD numbers] has dramatically narrowed this year, falling to just a little more than 100 […]
Asian Chemical Connections
Crude Drives Asian Polyethylene Spreads To Three-Year Low As 2018 Risks Build
By John Richardson IN MARCH 2016 we gave three scenarios for crude-oil prices: Collapsing Demand where we saw crude falling to $25/bbl on weak global demand that would make it impossible to repay much of the huge debts that had been built up since 2008. This is the result of economic stimulus polices that we maintain […]
Latest US Jobs Report Means Oil At $100 In Early 2017
By John Richardson THE US economy is well and truly back is the conclusion you will reach if you read just the front page newspaper articles following the release of last Friday’s October jobs report. “Friday’s numbers are a vindication of Fed chair Janet Yellen,” was, for example, what the Financial Times wrote on the front […]
Gas, Gas, And Perhaps Even More Gas
By John Richardson THE global petrochemicals industry is stepping on the gas as it accelerates both capacity expansions and the restructuring of existing assets. Apologies for the pun. In the US, of course, some 25m tonnes/year of ethylene capacity is due to be added, most of it after 2017, thanks to big volumes of cheap […]
India Chems Look For Govt Support
By Malini Hariharan The Indian government is being asked to give a fresh boost to the chemicals industry in the 12th Five Year Plan beginning from 1 April. A working group for the chemicals industry has detailed key measures that the government must take to ensure growth of 12% during the plan period (2012-2017). Top […]
Weak margins hit earnings
By Malini Hariharan It is the results season and numbers posted so far confirm that the last quarter has been rough with depressed demand, weak product prices and firm feedstock costs affecting earnings. Siam Cement Group’s EBITDA for the chemicals division dropped 25% in Q4 from the previous quarter, while sales revenue declined by 5%. […]
Rocky road ahead
By Malini Hariharan Asian polyolefin producers confront yet another challenging week. The macro environment suggests that implementing price hikes for September cargoes will be difficult. Stock markets around the world continue to be jittery with concerns about a US recession and debt problems in Europe still in the forefront. Support from oil also appears uncertain. […]
Saudi Arabia’s energy challenge
By Malini Hariharan Saudi Arabia’s growing oil demand is rapidly becoming a matter of concern for the country’s planners. A new report forecasts that the Kingdom could fail to meet domestic demand in 2030 if current consumption trends are maintained. Saudi Arabia, the world’s largest crude oil exporter, is already consuming a third of its […]
China lends guiding hand to futures markets
The Chinese government appears to have an important objective to achieve while promoting commodity futures trading in the country? A report in today’s Wall Street Journal says that the government is positioning its futures markets in setting world prices for metal, energy and farm commodities. Jiang Yang, chief futures industry policy maker and assistant chairman […]
BASF seeks “decisive” change
alternative energy, oil, catalysts, Fischer Tropsch
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