Europe top stories: weekly summary
ICIS Editorial
22-Jan-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 19 January.
BASF
stock shoots up on ‘stunning’ 2017 results,
base chems the star of the show
BASF shares were up more than 2% in Friday’s
afternoon trading after the German chemical
major published ahead-of-consensus financial
results for 2017, with analysts describing the
figures as “stunning”.
US supply growth to dominate 2018 oil markets,
outstrip Saudi Arabia – IEA
North America continues to strengthen as a
player in the global crude oil markets, with US
supply beating all expectations in 2017 and set
to outstrip Saudi Arabia this year, the
International Energy Agency (IEA) said.
Plastics manufacturers
must shift thinking to make EU packaging
targets an opportunity
The European Commission’s new recycling targets
for plastic packaging plus moves by retailers
to cut the use of the material provide a
significant challenge, but also possibly an
opportunity, for plastics manufacturers.
Europe toluene
fundamentals slow, but firm crude keeps spot
prices high
European toluene spot prices continue to hover
around the high $600s/tonne and slightly above
as the crude oil market shows consistent
strength despite having undergone a correction
through the sell-off of long positions, sources
said.
Saudi
Aramco aims to commercialise thermal
crude-to-chems technology
Saudi Aramco is planning to scale up and
commercialise its thermal crude-to-chemicals
technology, the Saudi energy major said.
Europe BD spot prices
reach three-month high on strong demand,
limited supply
European butadiene (BD) spot prices have
reached levels not seen since October 2017 on
the back of a steady uplift in both domestic
and export demand, sources said.
Africa polymer prices
rise breaking months of resistance
African polymer players are facing rising costs
as upward pressure from supply and global
competition for product finally breaks their
resistance.
Sadara seals off-take
deal to supply Saudi-German JV with EO,
PO
Sadara Chemical has signed a deal to supply
ethylene oxide (EO) and propylene oxide (PO) to
SADIG-ILCO, a new Saudi-German joint venture
focused on EO and PO derivative products,
Sadara said in a statement.
EU
chems aim to engage on recycling, but true
circular economy still far off
EU petrochemical sources have embraced the
drive for more recycling but figureheads like
the European chemical regulator’s executive
director conceded a true circular economy is
still a distant thought.
Western petchem progress
slow in Iran despite promise, US casts a
shadow
Progress by western businesses into Iran has
been slow despite the promise the resource-rich
country offers for petrochemicals producers,
due to challenges of doing business there and
fear of sanctions snapping back in the wake of
US uncertainty on the deal.
EU
wants all plastic packaging to be recyclable by
2030
The EU has adopted the “first-ever” Europe-wide
strategy on plastics in what it described as a
bid to protect the planet, defend its citizens
and empower its industries, the European
Commission said.
ECHA
new chief aims to smooth ‘natural friction’
with firms, warns of financial woes
The newly appointed executive director at the
European Chemicals Agency (ECHA) aims to have
an “open and honest” relationship with chemical
firms but warned that the “natural friction”
between the two is unavoidable.
Europe PE prices in the
doldrums despite Asian increases, Brent close
to $70/bbl
Polyethylene (PE) prices in Europe are firmly
in the doldrums, even as Asian prices continue
to rise and Brent crude oil flirts with
$70/bbl, ICIS data showed.
Global News + ICIS Chemical Business (ICB)
See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.
Contact us
Partnering with ICIS unlocks a vision of a future you can trust and achieve. We leverage our unrivalled network of industry experts to deliver a comprehensive market view based on independent and reliable data, insight and analytics.
Contact us to learn how we can support you as you transact today and plan for tomorrow.