manga, Japanese conformism, losing face, Lost Decade
Asian Chemical Connections
Middle East and China to run C2s regardless….
….that’s the case – in the Middle East case because of advantaged feedstock and in China’s case because it will be strategic. In previous downturns, far more capacity was western, or other Asian, and liquids based and so rate cuts brought markets more quickly into balance. The graphs below from ICIS Plants & Projects data […]
Shell plans for the long-term
See below for an extended interview with Shell Chemicals vice president, Ben van Beurden, who talks of the search for new feedstock sources. He raises the possiblity of using syngas from the Pearl GTL project in Qatar to make methanol and then olefins. Or perhaps the high paraffinic naphtha and ethane from the same project […]
The search for more basic petrochemicals
Very interesting speech from Alan Kirkley, Vice President of Strategy and Portfolio for Shell Chemicals, which first of all goes over the predictable ground of where we are in the cycle and the threat from the Middle East. However, he then makes the valid point – which I made earlier this week – that the […]
Here we go again – 1997 is back…..
I sincerely hope not, but all the signs are there because of: *A financial crisis which nobody again saw coming, this time with global implications *What could prove to be too much spending on new equipment and capacity. This time high equity prices have paid for these investments rather than US dollar-denominated bank loans, as […]
More arguments against M-E price setting
The article below, from Sean Milmo of ICB, makes the case that the Middle East will not be able or willing to lead pricing in Europe during the next downturn because of the control that European producers will be able to exert on their home market.
The Middle East may set polyolefins pricing
This was the warning from Bob Bauman of Nexant ChemSystems at last week’s 25th Annual Petrochemical Conference in Houston, Texas. Read below for some rather gloomy predictions of where markets could be heading in 2011-12
Another great year for Asian polyolefins but……
……how long will it last is the inevitable question. Demand growth has been so strong so far this year with very little new production coming onstream that while crude oil and the price of monomers have set a floor for pricing, they no longer appear to be the main drivers behind fluctuations and increases; in […]
Methanol – a Dickens of a good or bad tale
Methanol producers have been enjoying the best of times, but to paraphrase good old Charles Dickens, they may not necessarily be heading for the worst of times. There is a staggering amount of capacity due on stream by 2012. By that year, global capacity will stand at 66m tonne/year according to Mark Berggren of consultancy, […]
The global credit crisis is going to last
The collective sigh of relief was almost audible late last week when the Fed cut its discount rate – the rate banks charge each other for lending. Action from other central banks, including the European Central Bank, could follow this week. Analysts also rate the likelihood of the Fed cutting its formal interest rate at […]
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