Europe top stories: weekly summary

Source: ICIS News


LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 28 September.

Indorama forms sustainable PET resin, polyester joint venture with Loop Industries
Indorama Ventures and Canadian sustainable plastic resin and polyester technology firm Loop Industries have formed a joint venture to manufacture and commercialise sustainable polyester resin, the Thailand-headquartered petrochemicals major said.

Crude oil majors commit to reduce methane emissions by a fifth
Global crude oil majors have committed to reduce methane emissions by one fifth by 2025, the Oil and Gas Climate Initiative (OGCI) said.

Europe LDPE spot below ethylene for first time since 2013
European low density polyethylene (LDPE) spot prices have slipped again and are now below those of feedstock ethylene for the first time since May 2013.

Borealis aims to produce recyclable foam injection moulding products, partners with UK firm
Borealis has signed a deal with UK sustainable packaging technology provider Bockatech to develop "low-cost, high-performance, reusable, and recyclable" foam injection moulding products, the Austria-headquartered polymers and fertilizers major said.

Evonik to retain specialty monomers division after methacrylates divestment
Evonik has decided to retain its specialty monomers division following the anticipated divestment of its methyl methacrylate (MMA) and polymethyl methacrylate (PMMA) business units, according to a letter to customers seen by ICIS.

US Bayport Polymers to more than double PE capacity at Texas facility
Bayport Polymers, the 50/50 joint venture between Total and Novealis Holdings, is to more than double polyethylene (PE) capacity at its facility in Bayport, Texas.

Iran nuclear deal partners seek to bypass US sanctions
Signatories to the Iran nuclear deal are seeking to circumvent the resumption of US sanctions through the establishment of a channel to allow payments for exports from the country, including crude oil.

Austria’s Lenzing halts Alabama fibres expansion on trade war fears, cost escalation
Lenzing has temporarily mothballed a project to expand lyocell fibres capacity at its Mobile, Alabama, site, on expectations of higher tariffs on the back of global trade tensions, and a potential surge in construction costs, the Austria-headquartered producer said.

Europe PP sellers prepare buyers for potential 2019 tightness on scarce propylene
Polypropylene (PP) sellers are informing customers of risks of supply tightness in 2019 due to a large number of planned cracker maintenance outages that could lead to insufficient propylene.

BASF shares decline after oil & gas joint venture agreement with LetterOne
Shares in German chemicals major BASF fell in the wake of the company’s announcement that it had signed an agreement with LetterOne to merge their oil-and-gas businesses to create a joint venture called Wintershall DEA.