Europe top stories: weekly summary
ICIS Editorial
01-Oct-2018
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 28 September.
Indorama forms
sustainable PET resin, polyester joint venture
with Loop Industries
Indorama Ventures and Canadian sustainable
plastic resin and polyester technology firm
Loop Industries have formed a joint venture to
manufacture and commercialise sustainable
polyester resin, the Thailand-headquartered
petrochemicals major said.
Crude
oil majors commit to reduce methane emissions
by a fifth
Global crude oil majors have committed to
reduce methane emissions by one fifth by 2025,
the Oil and Gas Climate Initiative (OGCI) said.
Europe LDPE spot below
ethylene for first time since 2013
European low density polyethylene (LDPE) spot
prices have slipped again and are now below
those of feedstock ethylene for the first time
since May 2013.
Borealis aims to produce
recyclable foam injection moulding products,
partners with UK firm
Borealis has signed a deal with UK sustainable
packaging technology provider Bockatech to
develop “low-cost, high-performance, reusable,
and recyclable” foam injection moulding
products, the Austria-headquartered polymers
and fertilizers major said.
Evonik to retain
specialty monomers division after methacrylates
divestment
Evonik has decided to retain its specialty
monomers division following the anticipated
divestment of its methyl methacrylate (MMA) and
polymethyl methacrylate (PMMA) business units,
according to a letter to customers seen by
ICIS.
US
Bayport Polymers to more than double PE
capacity at Texas facility
Bayport Polymers, the 50/50 joint venture
between Total and Novealis Holdings, is to more
than double polyethylene (PE) capacity at its
facility in Bayport, Texas.
Iran
nuclear deal partners seek to bypass US
sanctions
Signatories to the Iran nuclear deal are
seeking to circumvent the resumption of US
sanctions through the establishment of a
channel to allow payments for exports from the
country, including crude oil.
Austria’s Lenzing halts
Alabama fibres expansion on trade war fears,
cost escalation
Lenzing has temporarily mothballed a project to
expand lyocell fibres capacity at its Mobile,
Alabama, site, on expectations of higher
tariffs on the back of global trade tensions,
and a potential surge in construction costs,
the Austria-headquartered producer said.
Europe PP sellers prepare
buyers for potential 2019 tightness on scarce
propylene
Polypropylene (PP) sellers are informing
customers of risks of supply tightness in 2019
due to a large number of planned cracker
maintenance outages that could lead to
insufficient propylene.
BASF
shares decline after oil & gas joint
venture agreement with LetterOne
Shares in German chemicals major BASF fell in
the wake of the company’s announcement that it
had signed an agreement with LetterOne to merge
their oil-and-gas businesses to create a joint
venture called Wintershall DEA.
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