Europe top stories: weekly summary

Source: ICIS News


LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 13 July.

Europe naphtha cracker margins rise, LPG margins fall
European naphtha-based cracker margins have recouped some of last week’s losses, ICIS margin analysis showed.

BASF signs MoU for next ‘verbund’ site in China, mulls 1m tonnes/year cracker
BASF is “investigating the possibility” of building its next and third largest highly integrated ‘verbund’ chemical complex in the province of Guangdong in China, the German chemical major said.

UK markets firm on stronger ‘soft Brexit’ hopes
UK markets firmed on increased investor optimism that a less dramatic exit from the EU could be achieved, despite the departure of several senior government officials.

Global crude demand growth to slip in 2019 – OPEC
Initial projections point to global crude oil demand growth slipping in 2019 compared to this year, on the back of weaker economic forecasts and fears that political uncertainty may start to weigh on consumption, oil cartel OPEC said.

German chems' business expectations weaken on economic uncertainty - VCI
Sales and production rose for the German chemical-pharmaceutical industry grew by 5.5% in the first half of 2018, while production was up 5%, but business expectations have weakened, according to the German industry trade group VCI.

UK would abide by ECHA rules, pay fees for post-Brexit access
The UK would abide by the rules of the EU regulator the European Chemicals Agency (ECHA) post-Brexit and contribute to maintenance costs of the organisation if the regulatory environment for chemicals players can be maintained, the country's government said.

International urea market eyes India-Iran relations
The international urea market has been nervous this week as it finds itself at a crossroads as future trade looks increasingly dependent on India's ability to continue buying Iranian product after US sanctions are re-imposed.

European toluene spot price slides on crude slump, weak demand
Daily toluene spot prices in Europe fell this week, in response to lower oil prices and decreasing premiums.