Americas top stories: weekly summary

Source: ICIS News


HOUSTON (ICIS)--Here are the top stories from ICIS News from the week ended 28 July 2017:

Colombia refinery overhaul hinges on unconventional reserves
Reviving a shelved expansion project at Colombia’s largest oil refinery depends on the nation’s readiness to tap into its unconventional hydrocarbon reserves, a spokesperson at the state-controlled energy producer Ecopetrol confirmed on Monday.

US DuPont sees continued headwind from BD, benzene pricing
Operating margins in DuPont’s performance materials business will likely continue to contract in the remainder of the year, mainly due to increased prices for key raw materials such as butadiene (BD) and benzene, DuPont’s chief financial officer Nicholas Fanandakis told analysts during the company’s second-quarter earnings call on Tuesday.

LyondellBasell US PO/TBA decision driven by tech, feedstock advantage
LyondellBasell decided to greenlight its $2.4bn propylene oxide/tertiary butyl alcohol (PO/TBA) project in Channelview, Texas as it sought to leverage proprietary technology and regional feedstock advantage.

US July PP contracts settle up 0.5 cent/lb on feedstock propylene
US July polypropylene (PP) contracts settled up 0.5 cent/lb this week, tracking feedstock propylene, sources said on Wednesday.

US July PE contracts settle flat for second consecutive month
US July polyethylene (PE) contracts were flat for the second consecutive month, sources said on Thursday.

Formosa declares force majeure on US suspension PVC resins
Formosa Plastics USA has issued a force majeure for some suspension polyvinyl chloride (PVC) resins for August, market sources confirmed on Thursday.

LyondellBasell weighs new US PP, propylene, other projects
LyondellBasell is considering a new polypropylene (PP) project in the US, as well as one involving feedstock propylene, its CEO Bob Patel said on Friday.

US August BD contracts settle 5-8 cents/lb lower
US butadiene (BD) contract prices for August settled on Friday at decreases of 5-8 cents/lb, marking the fourth consecutive month of declines as weak global markets and long domestic supply continues to weigh on values.