Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 18 June.

European toluene prices lower this week, contractual demand improves
European toluene spot prices have moved lower this week following downward pressure in crude oil values as well as lower Eurobob gasoline numbers, sources said on Friday.

Threat of displaced Qatari volumes hangs over African PE market
The African polyethylene (PE) market is being weighed down by high supply levels and poor demand, and the possibility of increased imports from Qatar is fraying sellers’ nerves.

Global crude demand to surpass 100m bbl/day by Q4 2018 – IEA
Crude oil demand will surpass in the fourth quarter of 2018 the psychological barrier of 100m bbl/day on the back of 1.4m bbl/day higher annual demand growth as China and India command 44% of the rise in demand, the International Energy Agency (IEA) said on Wednesday.

INEOS’ Europe $2bn investments possible thanks to shale – exec
The $2bn investments announced by INEOS this week match the company’s strategy to develop gas-based units which, in the long run, could be boosted by its own domestic shale gas production, according to an executive at the Switzerland-headquartered chemical major. 

INEOS plans $2bn capex for Europe PDH unit, cracker expansions
INEOS is to invest around $2bn in the development of a propane dehydrogenation (PDH) in Europe and the expansion of crackers in Grangemouth, UK and Rafnes, Norway, an executive at the Switzerland-headquartered chemicals major told ICIS on Monday.

Europe contract cracker margins rise on softer naphtha, LPG
European contract cracker margins rose in the week ending 9 June on the back of reductions in naphtha and LPG values, according to ICIS margin analysis on Monday.

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