Mardi Gras for US petrochemicals

Interesting comments from Wells Fargo analyst Frank Mitsch attending the IHS Global Petrochemicals Conference in Houston, Texas, which had record attendance of around 1,200.

“The mood is rather jovial, with every other sentence containing shale gas and cheap ethane,” said Mitsch.

“The Middle East, long thought to be advantaged, is having to shift its slate to heavier feedstocks amid declinding NGL supply, positioning the region modestly higher on the cost curve. The atmosphere surrounding discussions with LyondellBasell, Westlake and IPIC NOVA reminded one of Mardi Gras,” he added.

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