Tag Archives | Petrochemicals

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A downturn, not a dip

The blog first raised this issue last December, when noting that global chemical industry production growth had already “slowed significantly”. At that time, it questioned whether “central bankers will be able to wave the magic wand that restores us to a growth path”. And it warned “it is hard to imagine that the chemical industry […]

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Sinopec cuts back (a little) on petchems

China’s Sinopec has taken a lead in reviewing its petrochemical expansion plans. Speaking to employees last week, Wang Tianpu, CPC division President, noted that ‘global crude prices may remain high and the petrochemical industry may become even more competitive’. Today, he gave more details, saying that they plan to lower 2008 petchem expenditure by 4.6bn […]

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August highlights

Many readers have been out of the office during August on a well-deserved break. I am therefore highlighting below the main postings over the past month, in the hope this will help them to catch up quickly on key developments – please click on the highlighted title if you want to read the original posting: […]

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Increasing change, complexity, challenge

What is the outlook for the global economy over the next few years? Are we likely to see a continuation of the 2003-7 Global Boom (the purple line)? Will growth reduce to the average level seen between 1980-2000 (the green line)? Or are we at the start of a multi-year Global Downturn (the red line)? […]

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China freezes energy costs, bans plastic bags

Reaction to $100 oil has been swift. Yesterday, the Chinese State Council decided to freeze the prices of oil products, natural gas and electricity, as well as public transportation. A measure of the government’s concern is that the meeting to approve the freeze was attended by premier Wen Jiabao. Chinese inflation is now at 6.9% […]

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Chemical company valuations

The prices paid for Petkim and for Lustran reflect two very different perspectives on the current market:

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