Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 10 November.

Austria’s Borealis considers adding 450,000 tonnes/year of PP in Europe debottlenecking drive
LONDON (ICIS)–Borealis is considering a series of polypropylene (PP) capacity expansions in Europe to capitalise on increased feedstock supplies if it goes ahead with a propane dehydrogenation (PDH) plant in the region, the Austria-headquartered petrochemicals producer said on Monday.

Shale oil boom to peak in 2025, decline from 2030 – OPEC
LONDON (ICIS)–Tight oil supply from the US and elsewhere will peak in 2025 and start to decline shortly after, with OPEC crude production expected to rise sharply around the same time, the oil cartel said on Tuesday.

EU renewables directive sparks mixed feelings among players
BRUSSELS (ICIS)–Industry sources showed on Tuesday mixed feelings about the EU’s Renewable Energy Directive (RED) II proposals which would exclude crop- and feed-based biofuels from biofuel mandates from 2021.

Belgium’s Solvay shares fall after poor Q3 results
LONDON (ICIS)–Investors shunned Belgium-based chemical major Solvay’s stock on Wednesday morning after it reported a sharp fall in underlying net profit, while chemical analysts had differing views on what’s to come for the firm’s shares.

Weak Turkish lira affects PE sentiment despite certain grades strengthening
LONDON (ICIS)–The weak Turkish lira has softened further this week, dampening sentiment in the polyethylene (PE) market, but there are a few signs that buying in some PE grades could be getting stronger, sources said on Thursday.

Great challenges ahead for European supply-driven styrene market – exec
AMSTERDAM (ICIS)–Further consolidation, industry engagement for downstream demand as well as innovation and advocacy will be key for the future of the slow-growth, supply driven European styrenics industry, an executive at German chemical major BASF said on Thursday.

Europe PE prices down as naphtha soars
LONDON (ICIS)–Polyethylene (PE) prices in Europe are coming down in November but, in sharp contrast, upstream naphtha prices are surging, sources said on Friday.

UK govt chems knowledge best since ICI days as Brexit looms – CIA
LONDON (ICIS)–The UK government has a better understanding of the workings and importance of the chemicals industry in the approach to Brexit today than it has had since the days of Imperial Chemical Industries (ICI), the CEO at the country’s chemical trade group said this week.