Friday, June 14, 2019
Energy, Petrochemicals and Plastics 21
1 IEA cuts 2019 estimate for oil demand growth on global trade worries
https://www.reuters.com/article/us-iea-oil-idUSKCN1TF0TA
The outlook for oil demand growth in 2019 has dimmed due to worsening prospects for world trade, the International Energy Agency (IEA) said on Friday, although stimulus packages and developing countries should boost growth going into 2020.
2 Global gas demand to keep rising over next five years, IEA says
https://www.lngworldnews.com/global-gas-demand-to-keep-rising-over-next-five-years-iea-says/
After another record year, global demand for natural gas is set to keep growing over the next five years due to strong consumption in fast-growing Asian economies, the International Energy Agency (IEA) said in its Gas 2019 report.
3 Oil set for weekly loss as demand fears outweigh geopolitics
https://www.reuters.com/article/us-global-oil-idUSKCN1TF041
Oil prices steadied on Friday but remained on track for a weekly loss on fears that trade disputes will dent global oil demand, though attacks on two oil tankers in the Gulf of Oman this week gave prices a floor.
4 OPEC, Russia nearing accord on long term oil supply coordination: Nikkei
https://www.reuters.com/article/us-oil-opec-novak-idUSKCN1TF0C4
OPEC and other producers including Russia are in final talks for an agreement, that may be signed in early July, to cooperate on oil supplies on a long-term basis, Japan’s Nikkei reported, citing Russian energy minister Alexander Novak.
5 America’s Most Important Natural Gas Export Market
https://oilprice.com/Energy/Natural-Gas/Americas-Most-Important-Natural-Gas-Export-Market.html
Most of this growth was in exports to Mexico, which imported 1.7 Tcf of U.S. natural gas in 2018. This is a far greater total than for any other country, and is in fact more than all liquefied natural gas (LNG) exports to all countries.
6 How Will Industry Respond To Michael Bloomberg’s New Assault On Natural Gas?
https://www.forbes.com/sites/davidblackmon/2019/06/13/how-will-industry-respond-to-michael-bloombergs-new-assault-on-natural-gas/
You have to admire former New York City Mayor Michael Bloomberg in a way. Rather than taking the track of exploiting climate alarmism for profit, as so many prominent figures in our society have done, he puts his own money where his messaging is.
7 ExxonMobil, SABIC to Proceed with Gulf Coast Growth Ventures Project
https://www.manufacturing.net/news/2019/06/exxonmobil-sabic-proceed-gulf-coast-growth-ventures-project
ExxonMobil and SABIC announced the decision to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas, leading to thousands of high-paying jobs and billions in economic output.
8 Reliance, BP to start work on third gas project in India’s Bay of Bengal
https://www.reuters.com/article/us-reliance-bp-project-idUSKCN1TC2DE
India’s Reliance Industries Ltd and partner BP said on Tuesday they would start developing a third gas field off India’s east coast.
9 Shell to invest at least $397 million in Mexican deepwater oil projects
https://www.reuters.com/article/us-mexico-oil-shell-idUSKCN1TC2A6
Mexico’s independent oil regulator on Tuesday approved deepwater energy exploration plans for five areas operated by Royal Dutch Shell Plc in Mexican waters near the maritime border with the United States.
10 Province looking into making plastics, packaging producers run the recycling system
https://www.cbc.ca/news/canada/toronto/plastic-producers-recycling-1.5167669
Producers of plastic and packaging products could be on the hook for Ontario’s entire recycling bill, as the province looks to shift management of the blue bin system.
11 Shell Begins Shipping LNG From Huge Prelude Project
https://oilprice.com/Latest-Energy-News/World-News/Shell-Begins-Shipping-LNG-From-Huge-Prelude-Project.html
Shell has finally sent the first shipment of liquefied natural gas from its Prelude floating production facility off the coast of Australia. S&P Global Platts reports that the cargo is bound for Asia, although the name of the buyer was not disclosed.
