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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