Tag Archives | SABIC

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UK media speculate over Ineos asset deals as EBITDA doubles

A week ago, the BBC carried a report that PetroChina had completed “preliminary work” on a possible bid to buy a stake in Ineos’ Grangemouth refinery. The BBC quoted Ineos as confirming it was in talks with “a number of parties” over the future of Grangemouth, whilst cautioning that “the discussions with interested parties are […]

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CEOs remain cautious over 2010 Outlook

The blog’s quarterly survey of company Outlook statements shows CEOs remain very cautious. There has been a rebound after the destocking disaster of Q4 2008 – Q1 2009. But there seems little confidence that we will quickly return to the levels of demand and margin seen in the 2003-7 Boom period. China’s stimulus and loan […]

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The blog in 2009

The blog is now 2.5 years old. Readership continues to grow, both within the chemical industry and its investment community. It is now read in 121 countries, and 2735 cities, versus 89 countries and 1244 cities a year ago. Readers are also very loyal, with 23% reading it twice a week. Its readership covers all […]

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Companies remain cautious on the outlook

The good news is that the stabilisation seen in Q2 has been maintained. But companies remain cautious on the outlook, to judge from Q3 reports. CEOs are sceptical about the impact of government stimulus efforts in the West, and fear demand will fall back as these end. The only optimists are in China and India. […]

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Resilience, team-work, key to survival

Last week, the blog spent 2 days at Wilton in the UK, one of the world’s largest and most integrated chemical manufacturing sites. It also contains some of the world’s major companies, including SABIC, Dow, INEOS, Huntsman and Lucite. The mood was downbeat, as one would expect with operating rates at historically low levels. Critically, […]

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Farewell PX V

Readers will hopefully forgive the blog a moment of nostalgia. This weekend sees the closure of SABIC’s PX V plant in the UK, after producing c10 million tonnes of paraxylene. The blog’s first role as a product manager was in trading 250KT/year of xylene feedstock for PX V. In turn, this led to a memorable […]

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SABIC warns on demand

As the blog noted earlier this month, everyone looks to the majors for guidance during difficult times. It therefore welcomes today’s comments from SABICs CEO, Mohamed Al-Mady, when announcing their Q3 results. SABIC are probably the strongest petchem producer in the world, with experienced management and access to advantaged cost feedstocks. Al-Mady confirmed that SABIC […]

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Dow, Basell, BASF, SABIC owed $5m in Plastech bankruptcy

Chemical companies tend to trade on ‘open book’ terms with long-established customers. They are also supportive when those customers are facing problems in their end-markets. In a recession, these admirable qualities can become expensive. ICIS news reports tonight that the bankruptcy of Plastech Engineered Products in the US has led to debts of nearly $5m […]

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SABIC – S&P follow Moody’s

S&P have quickly followed Moody’s in putting SABIC Innovative Plastics’ debt on creditwatch for a downgrade. As I commented with the Moody’s downgrade, this is not really to do with a newly discovered decline in the polycarbonate market. S&P have very competent chemical analysts, and must have been aware in August (when the original grade […]

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Moody’s seasonal ‘gift’ for SABIC

Its always interesting to see the news stories that are slipped out just before major public holidays, when media attention is likely to be low. Only ICIS news seemed to spot the announcement by Moody’s that they were placing SABIC Innovative Plastics (the former GE Plastics business) on watch for a potential ratings downgrade. Yet […]

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