Crude oil price shale USA

Price, not distance, will be the key for crude oil purchases from US  Crude oil price shale USA

‘Imports from the country viable and compatible’

Crude oil price shale USA

Crude oil imported from America is not cheap and a charter from the US takes 40-45 days to arrive in India as opposed to the 5-10 days from the Gulf. Yet, there is a push to buy US crude oil as it is expected to bring down the trade imbalance between Washington and New Delhi. Crude oil price shale USA

Sanjiv Singh, Chairman, Indian Oil Corporation Ltd, says: “US crude is compatible and comparable. US-origin crudes are purchased through spot tenders on competitive bidding.”

Says Narendra Taneja, an energy expert: “Importing crude from the US is as viable as buying from Latin America or West Africa. It all depends on the price and other terms and conditions. We have been importing crude from Venezuela, which is about the same distance from India as the US.”  Crude oil price shale USA

Says Vandana Hari, Founder of Vanda Insights: “If you leave politics out of it, a refiner will always go by two main considerations when buying crude: Does it suit the refinery and is optimal for the desired products slate? And, is it economical, visa-vis competitive crudes?”

US crude costs Indian refiners more relative to other similar light, sweet grades from West Africa, the North Sea or Asia, she says, adding: “Higher freight cost is a factor. So is the additional reverse-lightering charges, as you cannot fully load a VLCC directly at US ports other than the Louisiana Offshore Oil Port.”

Explained IOC’s Singh: “There are infrastructure limitations at the US-end, including limitations in moving crude oil from onshore production sites to the coast as well as limitations at ports. With infrastructure debottlenecking at the US-end, US crude oil should become more attractive for Indian refiners. With controlled clearance from the Shipping Ministry on CIF (Cost, Insurance and Freight)/ DAP (Delivered At Place) basis, the option of crude oil transportation has also widened.”  Crude oil price shale USA

As US crude production continues to surge, the pressure for the barrels to leave the country will correspondingly rise, said Hari, adding: “We have seen the trend through this year. It also creates a downward pressure on US crude prices, and leads to rising exports.”

Purchase yardstick

IndianOil is mostly buying American crude oil against spot tenders. It has bought only once on contract. But the purchase is purely based on pricing. “Whatever pricing they do, we compare with our own benchmark. The purchase yardstick has to be the same. We convert the rates to our benchmark and then decide,” said an official involved with the trading. Crude oil price shale USA

The Indian crude basket — the price at which domestic refiners buy their crude oil — is the weighted average of Dubai and Oman (sour) and the Brent crude (sweet) prices.

“The US will emerge a big gas exporter within the next few years. Importing from the Middle East and East Africa would make more sense, but I would say we should diversify supplies from various continents in the interest of energy security,” Taneja added.

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Japanese manufacturers plastic alternatives

Japanese manufacturers seek to meet demand for plastic alternatives  Japanese manufacturers plastic alternatives

Japanese manufacturers plastic alternatives

The Yomiuri Shimbun

Bags and a cup made from LIMEX, a new alternative to plastic

The Yomiuri ShimbunRaw material manufacturers are searching for alternatives to plastic as restaurants and retailers reduce their reliance on plastic products amid global concern over polluted oceans. Companies from different industries have begun to view the trend as a new business opportunity and are making inroads into the burgeoning market.

The nation’s leading paper manufacturer, Oji Holdings Corp., will start producing food packaging made of paper at the end of January. The product’s surface will be coated with special chemicals to prevent oxygen and liquid from seeping in and keep the food fresh. Nippon Paper Industries Co. is also gearing up to produce water-resistant paper straws. The paper industry hopes that the movement to replace plastic will bring new demand and help offset sliding demand for paper. Japanese manufacturers plastic alternatives

Meanwhile, material makers that produce plastic products have begun to focus on biodegradable plastic. Mitsubishi Chemical Corp. began selling biodegradable plastic for cups in October, and is currently developing straws and other products made from the material. Also in October, Toyobo Co. began producing biodegradable resins on commission from U.S. chemical giant DuPont.

Biodegradable plastic costs several times more than regular plastic to produce. According to a European industry group, biodegradable plastic comprises less than 1 percent of all plastic produced, but the figure is projected to increase by more than 20 percent in the next five years.

Companies outside the paper and plastic industries are also entering the market for plastic alternatives. Last year, Itochu Corp. and Toppan Printing Co. entered capital and business tie-ups with TBM Co., a start-up that developed a new recyclable material made from limestone called LIMEX. TBM has patented the material in more than 30 countries, including Japan, the United States and China. LIMEX products have already been used in leading hotel chains. Itochu and other TBM partners are working to expand the material’s applications and sales networks.

The government, meanwhile, is aiming to support the development of plastic alternatives. It will launch a public-private council to promote their development and spread, with more than 80 companies from various industries expected to participate, including Kao Corp., Ajinomoto Co. and Suntory Holdings Ltd.

The movement to reduce plastic waste is gathering momentum worldwide. McDonald’s and Starbucks, both global restaurant chain operators, as well as Skylark Holdings Co. and others in Japan have announced they will stop using plastic straws.

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Europe paraxylene prices Asia

Viewpoint: Europe PX prices to align with Asia-Pacific Europe paraxylene prices Asia
Europe paraxylene prices Asia

European paraxylene (PX) spot prices will rise towards parity with those in the Asia-Pacific region in the first half of 2019, when a tighter European market will require imports from the Middle East. Europe paraxylene prices Asia

European demand is satisfied mainly through contract supply, pricing of which closely reflects Asia-Pacific levels; spot pricing has been at a discount.

Increased demand is likely to encourage producers to make more spot product available and this may move spot prices closer to contract levels.

The European PX market started to tighten in the second half of 2018 after the restart of Indorama’s 700,000 t/yr purified terephthalic acid (PTA) plant in Sines, Portugal.

The company expanded its Rotterdam plant to 700,000 t/yr from 380,000 t/yr in the third quarter of 2017. Europe paraxylene prices Asia

The restart of Indorama’s Portuguese plant led to an increase in European imports from Saudi Arabia, with more than 20,000 t/month imported in July to October, compared with no imports in the first half of the year.

Europe became a net importer of PX from the US in September, or 6,000t, after an average of 20,000 t/month went to the US in the first eight months of the year.

US product arrived in Portugal and Spain, and exports eased from the Amsterdam-Rotterdam-Antwerp (ARA) region. Europe paraxylene prices Asia

Increased imports are likely to continue in 2019, when a tighter European market will attract cargoes.

Product from the US and Saudi Arabia will head to Portugal and Spain; product from northwest Europe will head to the US, but in reduced volumes compared with the first half of 2018.

Isomerisation margins are likely to remain robust through the first half of 2019.

The PX-mixed xylene (MX) spread averaged $325/t so far in the fourth quarter 2018, compared with $272/t in the third quarter and just $125/t in the first half of the year.

This will encourage producers to take MX out of the gasoline pool for incremental PX production and to maximise operations on toluene disproportionation units.

Global polyester demand is likely to remain firm in 2019, with no new PTA capacity scheduled to start up.

PTA margins were poor in 2014-17, which discouraged investment, but margins more than doubled in 2018 and are likely to rise further in 2019.

The European PTA market is likely to better balance in the first half of 2019 as supply issues seen in the second half of 2018 get resolved.Europe paraxylene prices Asia

Planned maintenance at a 600,000 t/yr plant in Poland overran in the fourth quarter, leading to a drop-off in exports to western Europe.

Imports from Mexico stalled following a fire at Alpek’s 1mn t/yr unit in Altamira in mid-July.

The plant restarted in September, with imports from there steadily returning in the fourth quarter to the 17,000 t/month levels seen before the fire.

Western Europe will remain a net importer of PTA next year, but exports are likely to increase in the first half of the year.

Product from Portugal will continue to head to Egypt to supply Indorama and Dhunseri’s 540,000 t/yr polyethylene terephthalate (PET) joint venture.

Exports from Europe to Egypt have been steadily increasing through the second half of the year as the plant restarted — exports averaged 4,200 t/month in the third quarter and 7,500t in October.

Exports to Egypt in the first quarter are likely to be higher as the plant ramps up to full operating rates.

Product is also likely to flow to Lithuania to supply Neo Group’s PET unit in greater volumes, after it expanded to 500,000 t/yr from 308,000 t/yr in the middle of 2018.

Demand from the PET segment will remain seasonally weak in the first quarter, and pick up in the second quarter.

The logistical issues caused by low water levels on the Rhine river are likely to remain in effect through the first quarter.

Restrictions on barge loading capacity, in effect since June, have hindered barge movements.

Because European PX production is mostly on the coast, or adjacent to or close to PTA production sites, hindered barge movements from Gelsenkirchen and Wesseling lead to an overall reduction of PX available for export.

The low water levels led to a tightening of the inland European toluene market; some length built up along the coast.

Rhine-based producers cut production, including Shell from its 170,000 b/d Godorf and 140,000 b/d Wesseling refineries in late October —Shell’s 150,000 t/yr toluene diisocyanate (TDI)-grade plant at Wesseling was unable to load barges.

A recent rise in water levels has allowed producers to increase run rates.

Downstream cutbacks largely offset the production issues.

BASF stopped output at its 300,000 t/yr TDI unit at Ludwigshafen in late November because Rhine-related logistical bottlenecks affected transport of raw materials to the site.

A rise in water levels early in December allowed barges to travel past Kaub, helping to ease some supply issues, but it will take some time for logistics, raw material supply, inventories and production at Ludwigshafen to return to normal.

There is no scheduled restart date for the unit, as this will depend on a long-term recovery of Rhine water levels.Europe paraxylene prices Asia

Precipitation on the upper Rhine in Switzerland is more likely to fall as snow between now and March, and therefore will not contribute to water levels in the immediate term.

Demand for TDI-grade toluene is likely to increase in the second quarter when Rhine levels should return to normal, pushing up toluene pricing as TDI stocks rebuild.

Nitration grade toluene is likely to remain in oversupply, keeping prices close to blend values.

Demand for toluene from conversion units will remain mixed in 2019. Hydrodealkylation (HDA) economics have been firmly negative, with benzene prices falling below toluene towards the end of the fourth quarter. Europe paraxylene prices Asia

This has kept HDA units either idled or running at minimal levels. The benzene market is likely to remain weak in the first quarter of 2019, before picking up in the second quarter, but this is unlikely to move HDA margins into positive territory.

Disproportionation margins eased from 18-month high in October and are likely to remain in positive territory through the first half of 2019, supported by strong global PX pricing. Length in the by-product benzene market will likely limit rates in the first quarter.

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Polymers PET Petrochemicals rPET Oil 02-01-2019

-China – Polyethylene Terephthalate

PET and its chain begins the new year downhill.

PET Bottle grade export 990/1,020 $/ton – PET Bottle grade domestic market 7,750/7,850 yuan/ton – PET Filament grade SD domestic market 7,600/7,750 yuan/ton – PET Filament grade BR domestic market 7,600/7,850 yuan/ton

PTA Taiwan 810/825 $/ton – PTA domestic market 5,850/6,000 yuan/ton – MEG $ 615/630 $/ton – MEG domestic market 5,000/5,150 yuan/ton – PX Korea 9,00/920 $/ton

POY 150D/48F  domestic market 8,200/8,350  yuan/ton – DTY 150D/48F  domestic market 9,950/10,050  yuan/ton – PSF domestic market 8,850/8,950  yuan/ton

Plastic petrochemicals automotive industry 4.0

Crude Oil Prices Trend

Plastic petrochemicals automotive industry 4.0

Viewpoint: Europe PX prices to align with Asia-Pacific Europe paraxylene prices Asia

European paraxylene (PX) spot prices will rise towards parity with those in the Asia-Pacific region in the first half of 2019, when a tighter European market will require imports from the Middle East. Europe paraxylene prices Asia

European demand is satisfied mainly through contract supply, pricing of which closely reflects Asia-Pacific levels; spot pricing has been at a discount.

Increased demand is likely to encourage producers to make more spot product available and this may move spot prices closer to contract levels.

Polymers PET Petrochemicals rPET Oil

Invesco China Technology ETF Declines 0.35%

Invesco China Technology ETF looks negative with 0.35% gain so far, reaching $39.68 per share. With net assets of 482.99M and 2.40% volatility for this month.

Till now 266,955 shares traded hands. The avg volume is 243,790 over the last month for Invesco China Technology ETF .

The ATR of ETF is 1.46, that’s -37.17% of its 52-Week High and 11.69% of its 52-Week Low. The current year and quarter performance are: -30.67% and -7.42%.

Invesco China Technology ETF had performance of -27.45% YTD, 1 year of -27.54% and 3 years of 7.42%.

Polymers PET Petrochemicals rPET Oil

European Biotech’s Biggest News of 2018

With this year coming to a close, it’s now time to look back at the biggest biotech news stories of 2018 in Europe, which include CRISPR-Cas9 controversy, big financial deals, and spider silk airplanes.

The year 2018 brought a lot of change to the biotech industry in Europe, with clinical trials, approvals and Brexit looming on the horizon.

Without a doubt, 2019 is going to have just as much exciting advances as this year, so before we take the plunge into the new year, let’s have an overview of what made the headlines in 2018.

Polymers PET Petrochemicals rPET Oil

$70 Oil Could Be Right Around The Corner

Oil markets have always been cyclical, and now even more so with advanced electronic trading, more speculation (which often results in wider oil price swings) and more producers, including the resurgence of U.S. oil production, now reaching over 11 million barrels per day.

Added to the cocktail of uncertainty are also a myriad of geopolitical and economic factors, including ongoing U.S.-China trade tensions, angst of U.S. Federal Reserve policy, and wars in Syria, Yemen and elsewhere, which make it increasingly difficult to forecast the direction for future oil prices.

Polymers PET Petrochemicals rPET Oil

Kiian Digital to debut reactive inks at Heimtextil

Digistar Bellagio reactive inks line. © JK GroupJK Group, part of Dover Digital Printing and Dover, will attend the Heimtextil trade event for interior textiles trends in Frankfurt, Germany, next month. JK Group will use this platform to unveil Kiian Digital’s reactive inks line, Digistar Bellagio, designed for direct printing onto cotton and the other cellulosic fibres.

“We are excited to put forward, in this important textile context, Digistar Bellagio, which is the natural complement of the Kiian Digital’s current textile product portfolio,” said Marco Girola, JK Group Marketing Manager. “Digistar Bellagio was born from the synergy of highly specialized teams in digital textile printing, MS Printing Solutions & JK Group.

Polymers PET Petrochemicals rPET Oil

Oversupply, faltering growth seen to weigh on oil prices in 2019

An oil tanker sits anchored off the Fos-Lavera oil hub near Marseille, France (file). Oil prices have fallen more than 40% from multi-year highs reached in early October on concerns about the impact of a trade dispute between the US and China on global economic growth and demand for oil.

Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the US, and slowing economic growth undermine Opec-led efforts to shore up the market, a Reuters poll showed yesterday.

Polymers PET Petrochemicals rPET Oil

No trading on cotton market

The cotton market remained devoid of trading activity as buyers and sellers remained to the sidelines on Monday.

The year closing session was highly depressing with little hope of buoyancy in coming days.

In the absence of trading interest, the phutti (seed-cotton) prices also moved lower between Rs100-200 per 40kg.

Sindh phutti was being quoted between Rs3,000-3,800; Punjab remained in the range of Rs3,000-3,900 and Balochistan variety bet­ween Rs3,200-3,800 per 40kg.

Polymers PET Petrochemicals rPET Oil

Japanese manufacturers seek to meet demand for plastic alternatives  Japanese manufacturers plastic alternatives

The Yomiuri ShimbunRaw material manufacturers are searching for alternatives to plastic as restaurants and retailers reduce their reliance on plastic products amid global concern over polluted oceans.

Companies from different industries have begun to view the trend as a new business opportunity and are making inroads into the burgeoning market.

Polymers PET Petrochemicals rPET Oil

Oil posts first year of losses since 2015

Oil prices ended with full-year losses for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about a supply glut and mixed signals related to renewed U.S. sanctions on Iran.

For the year, U.S. West Texas Intermediate crude (WTI)futures slumped nearly 25 percent, while Brent tumbled more than 19.5 percent.

The market had been on track for solid gains for the year until October, when the United States granted larger-than-expected waivers to importers of Iran’s oil, and as demand in emerging economies started to sag.

That combination dragged down both benchmarks from four-year highs above $76 a barrel and $86 a barrel, respectively, and even a late-year decision by the Organization of the Petroleum Exporting Countries and its allies including Russia, known collectively as OPEC+, to ratchet down output was not enough to restore bullish sentiment.

Polymers PET Petrochemicals rPET Oil

Oversupply, faltering growth to weigh on oil prices in 2019: Reuters poll

Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth undermine OPEC-led efforts to shore up the market, a Reuters poll showed on Monday.

A survey of 32 economists and analysts forecasts the North Sea Brent crude oil benchmark LCOc1 will average $69.13 per barrel in 2019, more than $5 lower than last month’s projection.

Polymers PET Petrochemicals rPET Oil

Brexit, the change of the guard to the ECB and the end of the Draghi bazooka, the price of the Oil and the European Elections: that’s why 2019 scares the world economy

The fears of a commercial war between the US and China, the Trump-Fed conflict on the rates – There is a spectrum which hovers to Europe: that of the recession.

2019, according to many experts, will be characterized by uncertainty. Political uncertainty, but above all economic, which, according to the analysts of Agi, will be due in particular to seven large “special observed” of the coming year.

(Italian Language Only)

Polymers PET Petrochemicals rPET Oil

Traders cautioned over use of bioplastics

Trichy: As the ban on single-use plastics comes into effect on Tuesday, there is confusion among traders on the usage of  bio-plastic bags as an alternative. Producers of such bags have been approaching traders claiming that these are biodegradable whereas food safety officials have been cautioning them to check the certificate first.

According to the officials, producers of bioplastic bags have to obtain the mandatory certificate from Central Institute of Plastics Engineering & Technology (CIPET)  Chennai, apart from the licence from state and central pollution control board. G Renganathan, 47, who runs a hotel at Alangudi in Pudukottai district is one among those to be affected the worst since he uses plastic pouches to pack  liquid food. He was approached by a trader selling bioplastic and he was planning to adopt it.

Polymers PET Petrochemicals rPET Oil

DMX introduces blockchain technology for the automotive industry

Dealer Market Exchange’s latest innovation presents an opportunity for car dealers, makers, vendors and consumers to conduct business together using the blockchain system.

VINblock pilots the blockchain solutions menu for the automotive community. It is designed to track the lifetime activity of any vehicle by its unique Vehicle Identification Number, thus creating a new business network among its participating users.

Polymers PET Petrochemicals rPET Oil

Here’s why these 3 things are the automotive fails of 2018

Battery cars and autonomous driving were predicted to be the crucial issues for 2018, but instead, the most pressing threats to our driving democracy were political.

For South African car fans, political issues beyond their immediate control were the biggest fails of 2018.

Autonomous everything

Our lives are so digital that we often forget analogue systems still control almost all cars. Because devices have woven themselves so intimately into the fabric of our existence, the addiction we have to all things digital is often misinterpreted as trust.

Polymers PET Petrochemicals rPET Oil

Toray to integrate textile manufacturing subsidiaries31

Toray Industries, Inc, has announced a policy to integrate the management of its two textile manufacturing subsidiaries in Thailand –Thai Toray Textile Mills Public Company Limited (TTTM) and Luckytex Public Company Limited (LTX) –at the respective board of directors meetings and approved to convene general shareholders’ meetings for the integration.

Going forward, TTTM and LTX will drive forward the prescribed procedures for management integration including approval by the general shareholders’ meetings and aim to start operations as a new company in July 2019. Toray will announce the name of the new company and the scheduled date of starting operations immediately after the formal procedures are complete, according to a press release by Toray.

Polymers PET Petrochemicals rPET Oil

Pore Size and Air Permeability Of Four Nonwoven Fabrics

The relationship between pore size and air permeability in two spunlaced fabrics and two spunbonded/meltblown/spunbonded (SMS) fabrics were investigated. Minimum, maximum and mean flow pore sizes were determined using liquid porosimetry. The influence of fabric weight and thickness on air permeability and pore sizes was also evaluated. For the spunlaced fabrics, air permeability was

most highly correlated with mean flow pore size, while there was a significant correlation between air permeability and maximum pore size for the SMS fabrics. Liquid porosimetry is a useful technique in

assessing pore sizes of nonwoven fabrics and can also aid in understanding the mechanism of air permeability.

Polymers PET Petrochemicals rPET Oil

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Recycled Plastic Fibers Performance

Recycled Plastic Fibers Get a Performance Upgrade With New Technology  Recycled Plastic Fibers Performance 
By Madeleine Streets
Recycled Plastic Fibers Performance
Shoes made from plastic are no longer a novelty or the object of fashion ridicule. As sustainability has attracted greater attention over the past few years, the footwear industry has responded and there are now various eco-friendly options on the market (Allbirds is one such example). Recycled Plastic Fibers Performance 

Yet beyond the store shelves, there is a wave of innovation upgrading recycled plastic from a polyester replacement into multipurpose technologies.

Repreve, a brand of fibers made from recycled materials, was originally developed by Unifi as a way for the company to recycle its own fiber waste.

Now, it counts 14 individual performance technologies that range from temperature control to stretch and easy-clean. All fibers are designed to seamlessly replace, if not improve upon, standard polyester while repurposing the billions of plastic bottles that go into landfill every year.Recycled Plastic Fibers Performance 

“The great thing about Repreve is that it’s versatile,” said Chad Bolick, vice president for brand sales at Unifi Manufacturing, Inc. “In terms of footwear, it can be used in liners, laces and uppers — basically any part of the shoe where polyester is used.”

Plastic bottles can be turned into fabric by being chopped into bottle flake, which is melted first into chip and then melted again and extruded into a fiber. Companies like Rothy’s, Nike and Adidas have all launched products using these fibers, demonstrating that the textiles are able to compete with traditional non-recycled fabrics. Adidas intends to use recycled plastic in all of its products by 2020.

Recycled Plastic Fibers Performance 

Adidas Parley for the Oceans Ultra Boost Uncaged
CREDIT: COURTESY OF ADIDAS.
This makes the emergence of newly enhanced fibers more important than ever, for all areas of the footwear industry. For use in activewear, Repreve’s TruResistH₂O fiber is designed to minimize water absorption and speed up drying time, resulting in a yarn that is water resistant on its own but that also combines well with other finishes. On the fashion side, the TruEcoDye textile ensures strong inherent color while using less energy and water than most commercial dyeing.

Previous concerns about sustainable footwear have included the aesthetic sacrifices made in order to keep the product fully eco-friendly, and the potentially weaker performance qualities of recycled fabrics. After all, brands want to produce the best shoes for their customers. Companies like Parley Ocean Plastics and Repreve are hoping to combat any industry reluctance through consistently revising and improving the quality of their fibers.

“Thirty-three percent of consumers actively seek out and purchase from brands they know to be socially and environmentally responsible,” said Bolick. “We feel that people will make a more conscious effort to recycle when they realize that a bottle can become their shirt, their shoe, a part of their car, or the hat on their head.” Recycled Plastic Fibers Performance 

Repreve has recycled more than 13.75 billion bottles to date and aims to reach 20 billion by 2020.

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