Europe top stories: weekly summary
ICIS Editorial
11-Dec-2023
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 8 December.
Oil
and gas majors will transform petrochemicals
landscape
The climate challenge-led ‘energy transition’
has morphed into an ‘energy transformation’
that has huge implications for the
petrochemical industry.
Europe chemicals prices
continue monthly gains in October, but annual
declines more substantial
European chemicals prices generally rose by
more than general producer prices in October,
according to the latest data from EU
statistical agency Eurostat.
Europe’s OX demand stays
muted despite Q4 contract price
reductions
Europe’s orthoxylene (OX) market is likely to
remain muted until the start of 2024 as
downstream demand shows little signs of
recovery despite two consecutive contract price
cuts agreed in Q4.
Brenntag readies for 2026
options as commodity, specialties
disentanglement continues
Brenntag intends to spend the next two years
repositioning its two core businesses into more
autonomous entities before taking the next
strategic steps for its operations, with a more
defined split among the options being
considered, according to the CEO of the
distributor.
IPEX:
Global spot index drops as soft demand, lower
feedstock costs drive prices down
The global spot ICIS Petrochemical Index (IPEX)
fell for the fourth consecutive week as softer
upstream costs and subdued underlying demand
keep pushing chemical prices down across all
regions.
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