Friday, October 18, 2019
Energy, Petrochemicals and Plastics 34
1 Oil Price Fundamental Daily Forecast – Chinese Refinery Output Strong Enough to Offset Demand Growth Concerns
https://www.fxempire.com/forecasts/article/oil-price-fundamental-daily-forecast-chinese-refinery-output-strong-enough-to-offset-demand-growth-concerns-606868
Crude oil is also being underpinned by the hopes that a Brexit deal between the United Kingdom and the European Union could prevent an economic recession in the Euro Zone.
2 Natural Gas Price Fundamental Daily Forecast
https://www.fxempire.com/forecasts/article/natural-gas-price-fundamental-daily-forecast-eia-storage-report-expected-to-show-triple-digit-build-606602
Natural gas futures are edging higher early Thursday on short-covering and position-squaring ahead of today’s weekly government storage report. Prices plunged the previous session, erasing earlier gains as traders raised doubts over the durability of the late October cold that had been creeping into the weather forecasts all week. Sellers also took control on the back of a forecast calling for a triple-inventory build.
3 Weekly resin report: Spot PE market finds its groove
https://www.plasticstoday.com/resin-pricing/weekly-resin-report-spot-pe-market-finds-its-groove/208827774861694
The spot resin markets were very busy last week: Demand was strong, and while supply was available, it was not simply free flowing, reports the Plastics Exchange (Chicago) in its Market Update.
4 Total says 2 million bpd of crude supply off market due to geopolitics
https://www.reuters.com/article/us-oil-total-supply-idUSKBN1WX0EF
Oil markets have lost 2 million barrels per day (bpd) of crude supply this year due to security and political issues but are more concerned about slowing demand, a senior executive at French oil and energy group Total said on Friday.
5 Deepwater Transformation Sparking New Interest
https://www.rigzone.com/news/deepwater_transformation_sparking_new_interest-17-oct-2019-160082-article/
Changes have revived interest in deep-water projects and enabled new ones in regions including the North Sea, the Gulf of Mexico and China Seas.
6 Russia Ready To Seize Control Of The World’s Largest Oil Reserves
https://oilprice.com/Geopolitics/International/Russia-Ready-To-Seize-Control-Of-The-Worlds-Largest-Oil-Reserves.html
Russian TASS reports, quoting El Nacional, that the radical move is being discussed as a way of erasing Caracas’ debt to Moscow. The debt is sizeable: at the end of June this year, money owed to Rosneft alone stood at $1.1 billion. That’s down from $1.8 billion at the end of March.
7 Northeast Asia LNG trading hub expands on rising demand
https://blogs.platts.com/2019/10/15/jktc-world-lng-spot-trading-hub/
US LNG exports, on destination-free terms, have been regarded as the game changer for the market in recent years. But this view neglects the role played by China’s rising demand, and the changes taking place among traditional LNG buyers in Northeast Asia, which are driving the rapid establishment of an LNG trading hub.
8 Asian LNG spot prices now at eight month high
https://www.lngindustry.com/liquid-natural-gas/18102019/asian-lng-spot-prices-now-at-eight-month-high/
According to the latest Reuters report, LNG spot prices for Asia have risen to a new eight-month high, as demand for pre-winter cargoes emerges. Spot prices for cargo deliveries in December are now estimated to be approximately US$6.80 per million Btu – a 35 cent increase from last week.
9 Total launches its large LNG bunker vessel in China
https://www.lngworldnews.com/total-launches-its-large-lng-bunker-vessel-in-china/
Total, the world’s second-largest LNG player, said that its first large liquefied natural gas bunker vessel has been launched at the Chinese Hudong-Zhonghua shipyard.
10 Natural gas inventories surpass five-year average for the first time in two years
https://www.eia.gov/todayinenergy/detail.php?id=41733
Working natural gas inventories in the Lower 48 states totaled 3,519 billion cubic feet (Bcf) for the week ending October 11, 2019, according to the U.S. Energy Information Administration’s (EIA). This is the first week that Lower 48 states’ working gas inventories have exceeded the previous five-year average since September 22, 2017. Weekly injections in three of the past four weeks each surpassed 100 Bcf, or about 27% more than typical injections for that time of year.
11 ADNOC and Borealis join BASF-Adani MoU for $4bn renewable energy petchems site
https://www.icis.com/explore/resources/news/2019/10/17/10429192/adnoc-and-borealis-join-basf-adani-mou-for-4bn-renewable-energy-petchems-site
BASF has signed a Memorandum of Understanding (MoU) with Borealis, Adani and the Abu Dhabi National Oil Company (ADNOC) to evaluate collaborating on a chemical complex in Mundra, Gujarat, India, the German major announced on Thursday.
12 US plastics boom puts spotlight on sustainability
https://blogs.platts.com/2019/10/16/shale-fueled-us-plastics-boom-sustainability/
Virgin plastic production is thriving in the US, fueled by the North American shale boom. But the reversal of fortune for the US chemical industry has highlighted a bigger challenge amid widespread concern about plastic waste and sustainability
13 A Draconian Crackdown Looms Over Natural Gas
https://oilprice.com/Energy/Energy-General/A-Draconian-Crackdown-Looms-Over-Natural-Gas.html
The natural gas industry is reeling as the political climate begins to shift against the industry faster and earlier than many expected.
14 US crude exports set to double by 2022: Rystad Energy
https://www.oilandgasmiddleeast.com/drilling-production/35359-us-crude-exports-set-to-double-by-2022-rystad-energy
US crude exports could grow from current levels of 2.9mn barrels per day (bpd) to nearly 6mn bpd by 2022, according to a forecast from Rystad Energy.
15 Russia & China to build world’s largest petrochemical plant — RT Business News
https://www.rt.com/business/470966-russia-china-largest-petrochemical-contract/
An agreement worth more than $13 billion has been signed between China National Chemical Engineering Group (CNCEC) and Russia’s RusGasDobycha to build a natural gas processing and chemical plant.
