Friday, February 15, 2019
Energy, Petrochemicals and Plastics 5
1 Oil Will Continue to Play Significant Role in 2040 https://www.rigzone.com/news/oil_will_continue_to_play_significant_role_in_2040-15-feb-2019-158167-article/
Although the precise outlook is uncertain, the world looks set to consume significant amounts of oil for several decades, according to BP’s latest Energy Outlook.
2 Oil prices are rising and poised for a breakout. Watch these levels Reuters
https://www.cnbc.com/2019/02/15/oil-prices-are-rising-and-poised-for-a-breakout-watch-these-levels.html
People work at the Halfaya oilfield in Amara, southeast of Baghdad, Iraq.
Analysts say oil prices are approaching breakout levels, and the final day of trading this week will offer clues about whether crude futures can keep rallying.
Brent crude on Friday topped $65 a barrel for the first time this year, hitting a nearly three-month high. The international benchmark for oil prices was pushing toward $66 around 9:45 a.m. ET.
3 EIA adds new play production data to shale gas and tight oil reports – Today in Energy
https://www.eia.gov/todayinenergy/detail.php?id=38372
In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.
4 Exclusive: Trafigura halts oil trade with Venezuela –
https://www.reuters.com/article/us-venezuela-politics-oil-trafigura-excl-idUSKCN1Q41H8
Global commodities firm Trafigura has decided to stop trading oil with Venezuela due to U.S. sanctions on the OPEC nation’s energy sector, a source with direct knowledge of the matter said.
5 Brent crude hits 2019 high above $65, buoyed by output cuts
https://www.reuters.com/article/us-global-oil-idUSKCN1Q403J
Brent crude oil climbed above $65 a barrel to its highest this year as OPEC-led supply cuts and this week’s announcement of a higher than expected cut by Saudi Arabia encouraged investors.
6 Shell taking time with Prelude FLNG commissioning
https://www.lngworldnews.com/shell-taking-time-with-prelude-flng-commissioning/
The Hague-based LNG giant Shell said it is in no rush with the commissioning process of its Prelude floating liquefied natural gas (FLNG) facility located offshore Western Australia.
The company has already started feeding the gas into the pipes in the third quarter last year and opened up a number of wells and fed the gas to the unit for liquefaction in December.
7 Liquefied natural gas: US hype and German obedience?
https://www.naturalgasworld.com/germany-us-liquefied-natural-gas-hype-67966
The US has a vested interest in selling liquefied natural gas to Europe’s biggest economy as it produces a lot more than it needs at home. But is LNG really vital for Germany’s long-term energy strategy?
8 Germany soon to have two LNG terminals
https://www.lngindustry.com/liquid-natural-gas/13022019/germany-soon-to-have-two-lng-terminals/
The German economy minister, Peter Altmaier, has expressed optimism that Germany will soon be building two LNG import terminals in the near future.
9 Bioplastics: Promising but pricey | Plastics News
https://www.plasticsnewseurope.com/article/20190212/PNE/190219951/bioplastics-promising-but-pricey
One of the bio-based plastics that have attracted major interest in recent years is PHA. Produced by bacteria, PHA is not just one, but a family of naturally occurring biopolyesters with the potential to replace a host of conventional, fossil-based resins.
10 Inoes boss slams EU green taxes for “uncompetitive” chemicals industry
https://www.plasticsnewseurope.com/article/20190213/PNE/190219934/inoes-boss-slams-eu-green-taxes-for-uncompetitive-chemicals-industry
Ineos founder and chairman Jim Ratcliffe has written an open letter to European Commission president, Jean-Claude Juncker, expressing his concerns about the future of the European chemicals industry.
The letter particularly criticised the EU for its green taxes and regulations, saying they should be reduced to sustain a competitive chemical industry.
