Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 19 May.

Venator expects fast exit out of US bankruptcy under creditor deal
UK-based pigment producer Venator Materials has reached a restructuring support agreement with the creditors that hold the majority of the company’s debt, which could allow the company to emerge from Chapter 11 bankruptcy protection in a couple of months.

Distributors could drive net zero carbon agenda
Chemical distributors – positioned right in the middle of supply chains – are in a unique position to drive the net zero carbon and sustainability agenda.

Global chemicals recovery delayed to 2024 on interest rates, China slower recovery – Unigel CEO
The upturn in global petrochemicals will not come in earnest until 2024 as China’s recovery is proving slower than expected and high interest rates continue depressing demand for durable goods, the CEO at Brazil’s chemicals producer Unigel said on Wednesday.

IFA ’23: Global sulphuric acid offers dragged down by weak demand
A bearish mood is lingering across the global sulphuric acid market, as weak demand from downstream fertilizer and chemical producers in Europe and Asia continues to drag offers down.

INSIGHT: Policy support will make or break US hydrogen market
Until the US hydrogen market can bring down costs and stand on its own, government policy and incentives will determine how quickly it will grow and reveal where many of its market hubs will arise.

Adnoc, Apollo interested in ‘potential business’ with Brazil’s Petrobras, confirms Braskem bid
Abu Dhabi’s crude oil major Adnoc and US fund management Apollo have expressed interest “in discussing potential business” with Petrobras, the Brazilian energy major said on Friday.

US West Coast ports, dock workers ‘on doorstep of agreement’ – Port of LA exec
The executive director of the Port of Los Angeles thinks a tentative agreement between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) on a new labour contract is imminent.