Saying you “won’t do something” may stop you digging a bigger hole for yourself. But it doesn’t help in deciding what you should do instead. That’s OPEC’s dilemma today on raising oil output. Everything seemed simple enough a year ago, as the pandemic took hold: Saudi Arabia’s first reaction was to assume it would have […]
Chemicals and the Economy
World Aromatics and Derivatives Conference next week
Our 13th annual World Aromatics & Derivatives Conference takes place in Berlin next week. Jointly organised as always by International eChem and ICIS, it features a must-hear list of speakers: ExxonMobil: Europe Business Director Tim Stedman will give a global market overview Dow Chemical: Global Business Director Pieter Platteeuw will discuss the future for benzene […]
Oil markets break out of their ‘triangle’
There has never been any fundamental basis for the rise in oil prices over the past 3 years: • At no time has there been any actual shortage of product • In fact, inventories have always been at comfortable levels They rose only for two reasons: • The investment banks found they could make a […]
5th Asian Aromatics Conference in Singapore
The blog is delighted to be in Singapore next month, for its 5th Asian Aromatics & Derivatives Conference. It will be the ideal moment to review the challenges facing the industry, and develop plans for H2. As always, the Conference is being organised with ICIS, and features an excellent line-up of speakers: Shell’s Alexander Farina […]
Shell sees “supply revolution” in natural gas
Natural gas markets, so important in relation to chemical feedstock availability and pricing, are undergoing major change as we transition to the New Normal. The Middle East, which had been in surplus, is now moving to a more balanced position in some countries, such as Saudi Arabia. But the USA, which had expected to need […]
Saudi Aramco to extend shale gas search
The summer has seen several reports of reductions in ethane availability to Saudi petchem plants. This seems to have been due to two causes: • Saudi has cut back oil production by a third (4mbd) in order to comply with its 8.3mbd OPEC quota at a time of reduced global demand. This has also reduced […]
Deepwater Horizon raises ‘licence to operate’ issues
The chemical industry can be very proud of what it has achieved with the Responsible Care programme since 1985. But it may need to consider how this develops, in the light of the Deepwater Horizon disaster. One key question emerged from this week’s US Congressional hearing with the heads of ExxonMobil, Chevron and Shell. It […]
Shell’s 30-year rule for new energy technology adoption
Shell CEO Peter Voser has made a fascinating speech in China, where he highlights the length of time taken for new energy technologies to gain adoption. He says Shell’s research shows it takes “30 years for new energy types to capture 1% of the market“. And he contrasts this with the electronics industry, where a […]
The need for innovation during the downturn
The blog was recently interviewed by ICIS’ Anna Jagger at Vienna Airport, on its way back from the World Refining Conference. The conversation covered the need for companies to focus on innovation, as well as on survival, during the downturn. It also highlighted specific examples of opportunities that could be pursued today, within the context […]
CEOs remain cautious over 2010 Outlook
The blog’s quarterly survey of company Outlook statements shows CEOs remain very cautious. There has been a rebound after the destocking disaster of Q4 2008 – Q1 2009. But there seems little confidence that we will quickly return to the levels of demand and margin seen in the 2003-7 Boom period. China’s stimulus and loan […]
Jump to page: