Europe top stories: weekly summary
ICIS Editorial
03-Oct-2022
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 30 September.
Germany slipping towards
recession as sentiment falls further in
September
German economic sentiment continued
deteriorating in September, hitting the lowest
value since May 2020 according to the latest
data from the Ifo Institute on Monday.
Strike action begins at
TotalEnergies sites in France
Union workers at several TotalEnergies sites
across France initiated industrial action on
Tuesday, with a company spokesperson stating
that the firm is attempting to continue to
supply its customers and service station
network.
Europe base oils export
prices drop on bearish sentiment
European base oils export prices slipped this
week as limited demand compels players to adopt
a bearish sentiment.
EU
chemicals, energy-intensive sectors call for
measures to tackle ‘unbearable’ gas
costs
High natural gas prices in the EU are
“unbearable” for energy-intensive industries,
chemicals trade groups Cefic and Fertilizers
Europe said on Thursday ahead of a key energy
summit.
Germany scraps natgas
levy, agrees €200bn package ‘to brake’ rising
prices
Germany’s coalition government on Thursday
agreed not to go through with a controversial
levy or surcharge on natural gas consumption,
which it was estimated would have cost the
country’s chemical industry alone about
€4bn/year.
Urea
outlook weak in short term as mixed signals
lead to uncertainty
Global urea prices are declining, with market
activity expected to stay thin for next two to
three weeks as buyers stay on the sidelines
given the uncertainty surrounding future
levels.
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