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.