Friday, March 1, 2019
Energy, Petrochemicals and Plastics 7
1 Commodity Resin Prices Bottom Out : Plastics Technology
https://www.ptonline.com/articles/prices-of-pp-ps-bottom-out
Flat-to-upward pricing trajectory predicted for the five highest-volume commodity resins.
Higher global crude-oil prices, firming prices of key feedstocks, higher export volumes in some cases, and a rebound in demand in some other cases, are key drivers in projections for flat to at least slightly higher prices ahead for PE, PP, PS, PVC, and PET.
2 Oil prices steady, supported by OPEC tightening supplies
https://www.reuters.com/article/us-global-oil-idUSKCN1QI39Q
Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output. International Brent crude futures were at $66.39 per barrel at 1231 GMT, up 8 cents from Thursday’s settlement. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.38 per barrel, up 16 cents.
3 Natural Gas Price Fundamental Daily Forecast
https://www.fxempire.com/forecasts/article/natural-gas-price-fundamental-daily-forecast-eia-report-to-show-much-larger-than-normal-withdrawal-555141
We’re looking at strength ahead of the EIA report, which could be an indication that investors are betting on a larger-than-estimated draw. This could trigger a short-covering spike to the upside. The early rally could also be indicating a bullish change in the weather pattern overnight.
4 The $32 Trillion Push To Disrupt The Entire Oil Industry | OilPrice.com
https://oilprice.com/Energy/Energy-General/The-32-Trillion-Fund-Transforming-The-Oil-Industry.html
Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. International oil companies (IOCs) are likely to face a Black Swan scenario, which could end up being a boon for state-owned oil companies (NOCs).
5 Design for Recycled Content Guide
https://recycledcontent.org/
Creating more sustainable packaging requires a multifaceted strategy to address an array of environmental considerations across the packaging life cycle. A key element of any sustainable packaging strategy is to ensure materials are effectively recovered at the end of their useful life to provide new inputs for industrial or biological cycles.
6 EIA expects stable U.S. biofuels production, consumption, and trade through 2020 – Today in Energy
https://www.eia.gov/todayinenergy/detail.php?id=38532
In its February 2019 Short-Term Energy Outlook (STEO), EIA forecasts that several recent trends in U.S. biofuels markets will continue through 2020. In the STEO, production of fuel ethanol and net imports of biomass-based diesel stay unchanged, while net exports of fuel ethanol decline modestly. Federal mandates and state programs continue to support biofuel consumption through 2020, however, biofuels remain a relatively small share of total U.S. liquid transportation fuels supply.
7 While Politics Dominates The News, Big Oil Invests In Global Energy Reality
https://www.forbes.com/sites/davidblackmon/2019/02/25/while-politics-dominates-the-news-big-oil-invests-in-global-energy-reality/
One of the big concerns during the depths of the oil price bust of 2014-2016 was the fact that so many big, integrated and state-run oil companies were delaying or taking a full pass on investing in major and highly-costly international projects. During the financial retrenchment of this dark period, exploration for major new resources consistently took a back seat to finding ways to pay the bills and service the company’s debt.
8 Dutch prosecutors target Shell over Nigeria oil deal
https://www.reuters.com/article/us-shell-nigeria-idUSKCN1QI3TZ
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over the $1.3 billion acquisition of an Nigerian offshore oilfield, ramping up pressure on the energy firm that already faces bribery charges in Italy over the case.
9 Encana layoffs amount to roughly 470 jobs across Canadian and American operations
https://www.cbc.ca/news/canada/calgary/encana-job-cuts-newfield-1.5037861
The CEO of Encana Corp. says it cut its total workforce by 15 per cent and reduced its ranks of executives by 35 per cent in just over a week after closing its deal to buy U.S. rival Newfield Exploration Co. in mid-February.
10 Even China may not be able to soak up all 2019’s new LNG: Russell
https://www.reuters.com/article/us-column-russell-lng-china-idUSKCN1QH0KL
Not even China’s voracious appetite for liquefied natural gas may be enough to absorb the additional supplies hitting the market this year, with the price of the super-chilled fuel potentially a casualty.
11 Why Canada needs better information about all the energy it produces
https://www.cbc.ca/news/business/canada-energy-data-1.5027115
A lack of information about Canada’s energy sector has long been an issue for those trying to gauge how the system is working — from analysts to economists to public policy researchers.
12 Global Oil Plows Billions Into Solar & Energy Storage
https://cleantechnica.com/2019/02/27/global-oil-plows-billions-into-solar-energy-storage/
Global oil companies are plowing billions of dollars per year into solar and into energy storage, as more nations seek to switch their energy sources away from fossil fuels. In only 5 out of 15 acquisition deals done in solar over the past two years, over $8 billion was spent, according to an analysis by Mercom Capital Group.
13 Against The Odds, Big Oil Doubles Down On Megaprojects | OilPrice.com
https://oilprice.com/Energy/Energy-General/Against-The-Odds-Big-Oil-Doubles-Down-On-Megaprojects.html
The global oil industry is expected to ratchet up spending on new oil and gas projects this year, with the number of new final investment decisions (FIDs) soaring compared to the past few years.
14 Shell: Global LNG supply to rise by 35 million tonnes in 2019
https://www.lngworldnews.com/shell-global-lng-supply-to-rise-by-35-million-tonnes-in-2019/
Strong demand for cleaner-burning fuel in Asia continued to drive rapid growth in liquefied natural gas (LNG) use in 2018, with global demand rising by 27 million tonnes to 319 million tonnes, according to Shell’s latest annual LNG Outlook.
15 ExxonMobil Beaumont Contract Goes to KBR | Rigzone
https://www.rigzone.com/news/exxonmobil_beaumont_contract_goes_to_kbr-26-feb-2019-158248-article/
ExxonMobil Corp. has awarded KBR, Inc. a reimbursable contract to provide detailed engineering, procurement and construction (EPC) services for the offsites and interconnecting units as part of the supermajor’s refinery expansion in Beaumont, Texas, KBR reported Monday.
