Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 10 May.

Europe propylene supply rebalancing on derivative restart, cracker issues
Propylene spot supply is returning to a more balanced position with a key derivative unit now back on stream and a couple of cracker issues disrupting output.

Europe businesses face tough market and regulatory hurdles in long term – LyondellBasell
Market conditions in Europe are likely to remain challenging in the long term while changing regulations are increasing costs for businesses, LyondellBasell Industries said on Thursday, after announcing a strategic review for most of its operations in the region.

LyondellBasell launches review of European assets
LyondellBasell has launched a strategic review of the bulk of its operations in Europe, the producer said on Wednesday, based on its strategy to focus on assets perceived to have long-lasting competitive advantage

Chandra Asri aspires to become regional player with Shell Singapore purchase
Chandra Asri is looking to develop its presence in southeast Asia and become a key regional player with its purchase of Shell’s refining and petrochemicals assets in Singapore alongside commodities major Glencore, the Indonesia-based firm said on Wednesday.

IPEX: April index rises for fourth month in a row on firmer pricing in northwest Europe, northeast Asia
The ICIS Petrochemical Index (IPEX) was up 1.5% in April month on month as production constraints continue to push contract prices up across some commodities, mainly in northwest Europe and northeast Asia.

BASF puts ammonia, methanol, melamine plants up for sale at Ludwigshafen
BASF has engaged plant sale specialists International Process Plants (IPP) to sell idled ammonia, methanol and melamine units located at its loss-making Ludwigshafen site in Germany.