Europe top stories: weekly summary
ICIS Editorial
19-Feb-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 16 February.
INTERACTIVE: World oil
demand projected to grow by 1.59m bbl/day –
OPEC
World oil demand in 2018 is projected to grow
by 1.59m bbl/day to 98.6m bbl/day, on the back
of a steady rise in global economic activities
and increased vehicles sales in the US, China
and India, according to the latest OPEC Monthly
Oil Market Report.
Borealis committed to
improve plastics recycling rates, but circular
economy ‘a dream’ – CEO
Borealis is aiming to improve plastics
recyclability by working with designers to
achieve better recyclable materials, but a true
circular economy where everything is reused
comes across as “a dream”, the CEO of the
Austrian polymers producer said.
Reach-restricted
substances still widespread in European
products – ECHA
An investigation into the composition of
consumer products in Europe carried out by the
European Chemicals Agency (ECHA) revealed that
nearly a fifth of items surveyed contained
materials that are restricted under Reach
legislation, the organisation said.
Crude
oil price rises stall as non-OPEC production
set to increase – IEA
Crude oil price increases in past months have
stalled as non-OPEC producers, mainly the US,
continue to pump out product and global supply
is likely to outpace demand in 2018, the
International Energy Agency (IEA) said.
German prosecutors probe
alleged fraud at BASF’s Ludwigshafen
hub
A German prosecutors office has opened an
investigation into alleged fraud at BASF’s
petrochemicals production hub in Ludwigshafen,
Germany, officials confirmed.
LyondellBasell to acquire
A. Schulman for $2.25bn
LyondellBasell is to acquire plastics compounds
producer A. Schulman for $2.25bn, the US
chemical major said.
SABIC
entrance underpins future strategy, no regrets
on Huntsman – Clariant CFO
Clariant’s board has no regrets over the failed
merger with Huntsman as the actions of a few
shareholders leading to the deal’s downfall did
not mean management made the wrong decision at
the time, according to the company’s CFO.
Europe toluene spot
prices continue downward trend amid softer
crude
The European toluene spot market remains under
pressure as the price correction started ten
days ago continues on the back of decreasing
crude oil values, sources said.
EU
opens in-depth probe into Linde-Praxair
merger
The European Commission has opened an in-depth
investigation into the proposed merger between
international industrial gases majors Praxair
and Linde.
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