ICISConnect

Browse by Tags

Bank of England warns on inflation

Andrew Sentance of the Bank of England has issued a very clear analysis of current oil and commodity price movements. It rejects the view that these have been caused by speculators. Instead it points to increasing demand, and lack of supply, as the principal causes of today's higher prices. The slide...

Posted to ICIS Blogs (Weblog) by Anonymous on 07-17-2008
The blog's first birthday

Its now a year since the blog started. Since then, 213 postings have appeared. It is now read in 72 countries and 620 cities (shown above). Most encouragingly, readership continues to steadily increase. Since January, it has risen a further 301%. The blog's aim is to identify 'the influences...

Posted to ICIS Blogs (Weblog) by Anonymous on 07-05-2008
Dow raises prices by up to 20%

Dow today announced that it is raising prices for 'all of its products by up to 20 percent - depending on their exposure to rising energy, feedstock and transportation costs - and will review all terms to all customers'. Dow CEO, Andrew Liveris, said that Dow's 'first quarter feedstock...

Posted to ICIS Blogs (Weblog) by Anonymous on 05-28-2008
Sinopec receives $1bn subsidy in April

Sinopec is now losing 3000 yuan ($425) on every tonne of oil product sold, due to China's price freeze, according to Sinopec spokesman Chen Ge yesterday . And this is on top of official government subsidies paid to Sinopec, which rocketed to $1bn in April. This was more that the entire subsidy paid...

Posted to ICIS Blogs (Weblog) by Anonymous on 05-27-2008
Russia's oil trader

Increases in Russian oil supply have played a major role in balancing world oil markets, at a time when other non-OPEC sources such as the N Sea have been declining. Production rose from 6.2mbd in 1999 to 9.6mbd by 2006. But as I noted last month , there are signs it may now have peaked. The reason for...

Posted to ICIS Blogs (Weblog) by Anonymous on 05-18-2008
Russian crude supply 'peaking'

Russia is the world’s 2nd largest oil producer. And it has been the main source of increased crude production in recent years. Its output rose 58% between 1999-2006, from 6.2mbd to 9.8mbd. Now Lukoil’s VP, Leonid Fedun, has told the Financial Times that he thinks 2007 output will be ‘ the highest he...

Posted to ICIS Blogs (Weblog) by Anonymous on 04-16-2008
Oil price volatility rises

Volatility has been rising in the crude oil and feedstocks markets. Different players have completely different strategies. This makes it difficult for chemical companies to plan ahead in terms of their feedstock costs. In turn, this will adversely impact their margins. Last Monday, crude reached a new...

Posted to ICIS Blogs (Weblog) by Anonymous on 03-24-2008
US$ falls below ¥100, crude goes above $110/bbl

The US$ had now fallen through the ¥102 level, which has held since 1995, and went straight to the psychologically important ¥100 level . The dollar peaked 9 months ago at ¥124, and so it has now fallen 19%. This is dramatic by any standards. I forecast back in November that an ‘old-fashioned currency...

Posted to ICIS Blogs (Weblog) by Anonymous on 03-13-2008
Inflation worries increase in China, USA

China announced yesterday that inflation had soared again last month, reaching 8.7%, versus the government target of 4.8%. Part of the increase is clearly due to the effects of recent major storms . But with the US Fed likely to cut rates soon, China remains in a difficult position. If it increases interest...

Posted to ICIS Blogs (Weblog) by Anonymous on 03-11-2008
OPEC holds production as oil prices rise

OPEC today decided to hold oil production at current levels, even though prices are at a level which clearly threaten economic growth. They even recognised this risk in their statement , ‘highlighting the economic slowdown in the USA, which together with the deepening credit crisis in financial markets...

Posted to ICIS Blogs (Weblog) by Anonymous on 03-05-2008

Page 1 of 1 (10 items)