Europe top stories: weekly summary
ICIS Editorial
16-Jul-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 13 July.
Europe naphtha cracker
margins rise, LPG margins fall
European naphtha-based cracker margins have
recouped some of last week’s losses, ICIS
margin analysis showed.
BASF
signs MoU for next ‘verbund’ site in China,
mulls 1m tonnes/year cracker
BASF is “investigating the possibility” of
building its next and third largest highly
integrated ‘verbund’ chemical complex in the
province of Guangdong in China, the German
chemical major said.
UK
markets firm on stronger ‘soft Brexit’
hopes
UK markets firmed on increased investor
optimism that a less dramatic exit from the EU
could be achieved, despite the departure of
several senior government officials.
Global crude demand
growth to slip in 2019 – OPEC
Initial projections point to global crude oil
demand growth slipping in 2019 compared to this
year, on the back of weaker economic forecasts
and fears that political uncertainty may start
to weigh on consumption, oil cartel OPEC said.
German chems’ business
expectations weaken on economic uncertainty –
VCI
Sales and production rose for the German
chemical-pharmaceutical industry grew by 5.5%
in the first half of 2018, while production was
up 5%, but business expectations have weakened,
according to the German industry trade group
VCI.
UK
would abide by ECHA rules, pay fees for
post-Brexit access
The UK would abide by the rules of the EU
regulator the European Chemicals Agency (ECHA)
post-Brexit and contribute to maintenance costs
of the organisation if the regulatory
environment for chemicals players can be
maintained, the country’s government said.
International urea market
eyes India-Iran relations
The international urea market has been nervous
this week as it finds itself at a crossroads as
future trade looks increasingly dependent on
India’s ability to continue buying Iranian
product after US sanctions are re-imposed.
European toluene spot
price slides on crude slump, weak
demand
Daily toluene spot prices in Europe fell this
week, in response to lower oil prices and
decreasing premiums.
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