Friday, May 3, 2019
Energy, Petrochemicals and Plastics 15
1 Oil’s New World Order Requires Careful Management
https://www.forbes.com/sites/daneberhart/2019/05/03/oils-new-world-order-requires-careful-management/
It is hard to recall a time when the United States has held more power over global oil markets. America has upended markets by becoming the world’s top producer and a major exporter of both crude oil and refined products. But America’s geopolitical influence extends well beyond its role as a source of abundant, affordable and secure energy.
2 Oil prices poised for weekly drop as U.S. output climbs
https://www.reuters.com/article/us-global-oil-idUSKCN1S904D
Oil prices were on track for sharp weekly declines on Friday as surging U.S. output countered production losses in sanctions-hit Iran and Venezuela.
3 Analysts Stick to 2019 Oil Price Forecast
https://www.rigzone.com/news/analysts_stick_to_2019_oil_price_forecast-03-may-2019-158749-article/
Analysts at Fitch Solutions Macro Research (FSMR) still believe the price of Brent crude will average $73 per barrel in 2019, according to a new report from the company.
FSMR analysts lowered their average annual price forecast for Brent for 2019 from $75 per barrel to $73 per barrel back in March. Last month, the analysts stuck to their forecast that Brent crude would average $73 per barrel this year.
4 U.S. LNG exports flat on week
https://www.lngworldnews.com/u-s-lng-exports-flat-on-week-2/
Liquefied natural gas exports from the U.S. remained flat over the last week, according to data from the Energy Information Administration (EIA).
EIA stated in its weekly report that eight LNG vessels, five from Sabine Pass, one from Corpus Christi, and two from Cove Point departed from the United States from April 25 to May 1.
5 Mexico Puts The Squeeze On Fuel Theft
https://oilprice.com/Energy/Crude-Oil/Mexico-Puts-The-Squeeze-On-Fuel-Theft.html
Pemex is struggling–to put it lightly. Petroleos Mexicanos, Mexico’s long-mismanaged state-owned oil company, has been bleeding money as its production levels have fallen to a trickle of their former production levels over the last decade. Now, Pemex is reporting a 36 billion peso ($1.9 billion U.S. dollars) loss in the first quarter.
6 Shell pursuing $1 billion exit from Indonesia LNG project: sources
https://www.reuters.com/article/us-shell-abadi-idUSKCN1S90WK
Royal Dutch Shell is moving to sell its stake in Indonesia’s $15 billion Abadi liquefied natural gas (LNG) project, industry and banking sources said, following on from an asset disposal program that has raised more than $30 billion.
7 Another oil and gas company fails in Alberta — and more than a dozen others are teetering
https://www.cbc.ca/news/business/trident-exploration-aer-owa-oilpatch-1.5120486
Alberta’s persistently low oil and gas prices have claimed another victim as Calgary-based Trident Exploration ceased operations this week. Several other companies could suffer the same fate.
8 Chevron completes purchase of Houston-area refinery from Brazil’s Petrobras
https://www.reuters.com/article/us-refinery-sale-chevron-pasadena-idUSKCN1S74PF
Chevron Corp completed a $350 million purchase of a refinery in the Houston suburb of Pasadena, Texas, from Brazil’s national oil company, Petrobras, Chevron said in a statement.
9 Mixed Signals on Resin Prices : Plastics Technology
https://www.ptonline.com/articles/mixed-signals-on-resin-prices
Prices of PE, PVC and PET were flat in March, while PP dropped and PS moved up.
- PE PRICES FLAT
- PP PRICES DOWN
- PS PRICES UP
- PVC PRICES FLAT TO SLIGHTLY UP
- PET PRICES FLAT TO HIGHER
10 U.S. Refining Industry Reckons with Uncertain Energy Future
https://www.chemengonline.com/u-s-refiners-reckon-uncertain-energy-future/?printmode=1
Many indicators point to current success and prosperity for U.S. petroleum refineries, but simultaneously, the industry is facing a future of massive changes in energy and transportation.
