Europe top stories: weekly summary

Author: ICIS Editorial

2021/02/15

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 12 February.

INSIGHT: Freezing weather in Europe exacerbates tight chemicals supply
Cold weather has restricted chemicals production and logistics in Europe, mirroring conditions possible on the US market.

Signs of healthy recovery unable to prop up crude demand as transport drags - OPEC
There are early “signs of a healthy recovery” in 2021 but the recovery in crude demand will lag as transportation is not set to fully recover any time soon, the producing cartel OPEC said on Thursday.

‘Fragile’ crude market rebalancing to speed up in H2 but downside risks remain - IEA
Crude oil prices have risen to high last seen before the pandemic hit the global economy in the second quarter of 2020, but the supply/demand rebalancing remains “fragile”, said the International Energy Agency (IEA) on Thursday.

Evonik expands lipid production for increased Covid-19 vaccine production
Evonik is investing in a short-term expansion of its specialty lipids production at its Hanau and Dossenheim sites as part of its partnership with Pfizer-BioNTech, the German specialty chemicals producer said on Thursday.

France’s Arkema to acquire Brazilian sealants and adhesives maker Poliplas
Arkema has reached an agreement to acquire Brazilian sealants and adhesives producer Poliplas, the French specialty chemicals major said on Tuesday.

BASF, Siemens mull Ludwigshafen joint projects to lower emissions
BASF and electronics major Siemens are mulling joint projects at the German chemicals major’s Ludwigshafen flagship site to lower greenhouse gas (GHG) emissions.

Borealis to focus on chemicals, polyolefins as OMV consolidates position
Borealis is tightening its focus on base chemicals and polymers as it prepares to divest the bulk of its fertilizers business after shareholder OMV doubled down on its position in the Austria-headquartered petrochemicals producer.