Brexit and the impact on the petrochemical industry

The UK decided to leave the EU following the referendum that took place on 23 June 2016. The formal process of leaving started on 29 March 2017 with the UK triggering Article 50.

An impact of the “Brexit” decision was seen immediately after the referendum result with sterling falling to a 31-year low against the dollar. But the longer term implications on the energy, chemical and fertilizer industries will not be known until negotiations get underway and a new deal agreed with the EU as well as potential trade deals with the wider world.

ICIS followed the lead up to the referendum and the aftermath of the vote and is now providing coverage of the developing situation as the process of the UK leaving the EU starts .

ICIS graphics and news output help readers assess the situation as it develops across multiple products.

 

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ICIS market insight: ‘Pragmatic Brexit' a step closer after UK election result

ICIS market insight: ‘Pragmatic Brexit' a step closer after UK election result

With the recent general election in the UK stoking uncertainty about negotiations between the UK and the EU, Steve Elliott, CEO of the UK’s Chemical Industries Association (CIA), discusses the need for a “pragmatic Brexit” with ICIS’s Jonathan Lopez and considers the options for Brexit and what it means for the UK’s petrochemical industry.

Latest infographic

Brexit Infographic

The vote in favour of the UK leaving the European Union delivered a blow to business and to an industrial sector overwhelmingly supportive of the ‘Remain’ camp. The data from ICIS Consulting shows what proportion of the EU’s major petrochemical assets are in the UK.

They also illustrate the latest trade flows for the major olefins, aromatics, 12 major polymers and 21 intermediates.

Whitepaper: Opinions split over Brexit effect on the petrochemicals market

brexit whitepaper
Read the full whitepaper

Brexit infographic 

Brexit Infographic

View the latest ICIS infographic to gain an insight into what market participants are thinking and what consequences a “leave” vote would have on the industry.

 

Latest News on Brexit

EU wrestles with free trade principles

...Rene van Sloten, director for industrial policy at Cefic. UNCERTAIN TERMS FOR BREXIT Aside from the Chinese relationship with the EU, the UK’s future... Tue, 27 Jun 2017

Europe top stories: weekly summary

...according to a source at the Indian petrochemicals major this week. UK to leave EU customs union after Brexit - government The UK will exit the EU’s... Mon, 26 Jun 2017

Global economic headwinds, tailwinds swirl for chemicals outlook

...levels of uncertainty arising from “a volatile and unpredictable US policy environment, clouded Brexit negotiations and the need for reform of European... Thu, 22 Jun 2017

Supply chains to shift from global to local

...Paris two years ago Similar disruption to previous trade patterns is also underway in Europe, where the UK’s Brexit vote to leave the European Union... Wed, 21 Jun 2017

UK to leave EU customs union after Brexit - government

...UK to leave EU customs union after Brexit - government. Jonathan Lopez. LONDON (ICIS)--The UK will exit the EU’s customs union once it leaves the 28-country... Wed, 21 Jun 2017

UK election result signals softer Brexit

...commentators suggest. Any coalition deal will mean compromises over Brexit. Theresa May’s “hard” Brexit strategy included a tough stance on immigration... Fri, 09 Jun 2017

Europe top stories: weekly summary

...the €35/tonne drop in the June ethylene contract price, sources agreed on Friday. INSIGHT: UK election result could mean softer Brexit The UK election... Mon, 12 Jun 2017

BLOG: Soft, hard, no Brexit, a labour government – take your pick

...BLOG: Soft, hard, no Brexit, a labour government – take your pick. Staff Reporter. LONDON (ICIS)-- Click here to see the latest blog post on Asian Chemical... Mon, 12 Jun 2017

UK sterling stabilises as May vows to form a 'stable' government

...the Brexit negotiations is a complete mystery. The range of eventual outcomes are now much wider on this front. Hard line Brexit Tories will hold more power... Fri, 09 Jun 2017

INSIGHT: UK election result could mean softer Brexit

...for that at present, commentators suggest. Any coalition deal will mean compromises over Brexit. Theresa May’s “hard” Brexit strategy included a... Fri, 09 Jun 2017