ICIS Blogs : oil markets

World Bank sees deeper recession

Chemicals & The Economy — Tue, 23 Jun 2009 09:57:51 GMT

The chemical industry is always a leading indicator of the global economy. One of the blog's oldest friends used to be a central banker, and he made no secret of the fact that our discussions about demand levels were often an important factor in his...(read more)

Ineos appoint Morgan Stanley for Grangemouth

Chemicals & The Economy — Sun, 21 Jun 2009 09:19:52 GMT

The blog's close eye on Scotland's media has again been rewarded this morning, as 'The Scotsman' reveals that Ineos have appointed Morgan Stanley, the investment bank, to advise on the sale of Grangemouth. It suggests that a company such...(read more)

Ineos talks of PetroChina deal for Grangemouth

Chemicals & The Economy — Thu, 18 Jun 2009 20:51:34 GMT

The 'Falkirk Herald', based close to Ineos's Grangemouth facility in Scotland, is not normally the place that the blog would look for news of the potential sale of a major part of the world's 4th largest chemical company. However, that...(read more)

The Boom/Gloom Index©

Chemicals & The Economy — Sun, 14 Jun 2009 06:01:30 GMT

Markets are driven by two factors, sentiment and fundamentals. Fundamentals can be followed by analysing hard data. In chemical markets, for example, key areas include new housing starts, auto sales, industrial production, Asian exports, etc. This data...(read more)

Aromatics feedstocks: 'Back to the Future'

Chemicals & The Economy — Thu, 11 Jun 2009 10:13:02 GMT

For the past 40 years, the aromatics industry has usually had to 'bid away' its feedstock from the octane and gasoline pool. The only exception took place in S Korea during the early 1990's, when local gasoline demand was low. This gave the...(read more)

Vitol warns on current oil prices

Chemicals & The Economy — Wed, 10 Jun 2009 21:38:49 GMT

Vitol are one of the world's largest oil traders. Thus the blog was interested to see their CEO, Ian Taylor, suggesting that the recent rise in oil prices "does not sit comfortably with the currently available supply and demand data". According...(read more)

Difficult decisions loom on future US auto demand

Chemicals & The Economy — Wed, 03 Jun 2009 12:54:25 GMT

By the end of May last year, 6.2m autos had been sold in the US market, each containing $2700 of chemicals (according to the ACC). The total sales value to the chemical industry was $16.8bn. So far this year, just 3.9m autos have been sold, with a value...(read more)

Markets in Wonderland

Chemicals & The Economy — Tue, 02 Jun 2009 13:41:19 GMT

"Sometimes, I've believed as many as six impossible things before breakfast" said the Queen in Lewis Carroll's famous book, 'Alice in Wonderland' Today would have been a good day for her to practise this ability, as she read...(read more)

May's top posts

Chemicals & The Economy — Tue, 02 Jun 2009 09:38:56 GMT

The 3 most popular posts in May were: Dow, Ineos focus on debt issues Rotterdam oil storage running out of space Green shoots likely to be yellow weeds The blog will be celebrating its 2nd birthday at the end of the month. I would welcome your comments...(read more)

Russia's chemical production tumbles

Chemicals & The Economy — Sun, 31 May 2009 13:06:07 GMT

Last week's global production numbers highlighted the startling collapse in output from Central & Eastern Europe. This was the worst regional performer in Q1, and the blog decided to investigate further. Russian output is key to the region's...(read more)

Saudi confirms $75/bbl oil price target

Chemicals & The Economy — Thu, 28 May 2009 08:10:43 GMT

Back in December , the blog analysed statements by King Abdullah, and concluded that Saudi Arabia had a 'target range' for oil prices of $75 - 100/bbl. Yesterday , this analysis was confirmed by Saudi Oil Minister, Ali Naimi, who said the world...(read more)

New US auto fuel standards provide chemical companies with major opportunities

Chemicals & The Economy — Tue, 19 May 2009 09:27:34 GMT

The new US fuel economy standards announced today by President Obama are very big news for the chemical industry. By 2016, all new autos will have to meet a 39 miles/gallon standard, up 42% from the current 27.5 mpg. Trucks will have to do 30 mpg, versus...(read more)

OPEC worries about weak oil market fundamentals

Chemicals & The Economy — Sun, 17 May 2009 17:48:46 GMT

Back in April, the blog noted that stock markets had embarked on "their 7th bear market rally since October 2007". So far, it has been the most impressive of them all, with the S&P 500 rising 40% between 6 March - 8 May, before falling 5...(read more)

'Checklist for Survival' Webinar

Chemicals & The Economy — Fri, 15 May 2009 12:24:08 GMT

Many thanks to everyone who signed up for yesterday's Webinar. We ended up running two sessions, due to demand. I hope you found it stimulating and helpful. My thanks go to Nigel Davis for chairing it, and to Alan Tyler and the ICIS team for organising...(read more)

BASF sees "weak demand", traders see recovery

Chemicals & The Economy — Thu, 30 Apr 2009 11:42:36 GMT

BASF, the world's largest chemical company, said today that they see "weak demand for chemical products" continuing through 2009. In response, plants and sites "will be closed or sold where necessary". These are clear statements...(read more)