Americas top stories: weekly summary
ICIS Editorial
26-Mar-2018
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 23 March:
Firm agrees to
supply ethane for American Ethane’s new US
terminal
Private-equity firm Energy & Minerals Group
(EMG) will create a portfolio company to supply
up to 480,000 bbl/day of ethane to a
terminal project being developed by American
Ethane Co (AEC), the company said on Monday.
ExxonMobil mulls
450,000 tonne/year US PP
expansion
ExxonMobil has begun detailed engineering work
on a potential project to expand
its polypropylene (PP) capacity on
the US Gulf Coast by up to 450,000 tonnes/year,
the US-headquartered oil and gas firm said on
Tuesday.
US ethylene spot
prices fall to nine-year low
US spot ethylene fell to its lowest
point in nine years as production continues to
be bolstered by new crackers and demand is
hampered by downstream outages.
Alpek, Indorama,
Far Eastern consortium to acquire M&G Texas
PTA-PET plant for $1.12bn
A consortium led by Alpek and Indorama Ventures
has agreed to purchase M&G USA Corp’s
purified terephthalic acid (PTA)
and polyethylene terephthalate (PET)
plant in Corpus Cristi, Texas, for a purchase
price of $1.125bn, the Mexico- and
Thailand-based companies said on Wednesday.
US March
propylene contracts fall 6 cents/lb on improved
production
US March propylene contract prices
been settled by a majority of market
participants at a 6 cent/lb ($132/tonne)
decrease from the prior month, market sources
said on Wednesday.
Trump signs on
$50bn tariffs against China
US President Donald Trump signed a memorandum
on Thursday to impose $50bn in tariffs on
imported goods from China.
US tariffs
against China sends chem stocks, Dow Jones
plummeting
Chemical stocks fell sharply on Thursday after
US President Donald Trump said the nation may
pursue tariffs on at least $50bn of Chinese
goods.
Canada’s NOVA, US
Sunoco explore Gulf Coast ethylene export
terminal joint venture
The olefins arm of NOVA Chemicals’
and Energy Transfer Partners subsidiary Sunoco
Partners Marketing & Terminals have entered
into a non-binding memorandum of understanding
(MoU) regarding a joint venture to develop
an ethylene export terminal on the US
Gulf Coast, the Canadian producer said.
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