Americas top stories: weekly summary

ICIS Editorial

27-Jan-2020

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 24 January 2020.

US January propylene contracts settle at a rollover
US January propylene contracts settled at a rollover from the prior month for the majority of the market, despite falling spot prices during the negotiations.

Hilco Redevelopment Partners to acquire defunct PES Philadelphia refinery for $240m
Hilco Redevelopment Partners has successfully bid for the damaged Philadelphia Energy Solutions (PES) refinery for $240m at a private auction in New York City on January 17, according to court documents.

US McDermott to sell Lummus chem unit as part of Chapter 11 restructuring
McDermott International has agreed to sell its Lummus chemical technologies business for $2.725bn to a partnership between The Chatterjee Group and Rhone Group, the US energy and chemicals engineer said.

US PE margins remain pressured amid ongoing supply additions
Margins for US polyethylene (PE) producers remain under pressure following a year of compression in 2019. Prices and margins have declined over the past year as significant capacity expansions have come online even as global GDP slowed to the lowest growth rate in a decade.

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