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Global Chemicals Quick Review
China will continue to lead the global methanol market demand
James Lamoureaux, general manager of IGP Methanol, said a few days ago that the company is building a large methanol plant in Myrtle Grove, Louisiana, USA; Despite India's growing prominence as an emerging methanol consumer, China will remain a key market for
the global methanol industry.
At the International Association of Methanol Producers and Consumers (IMPCA) Mississippi conference in February, Mark Berggren, general manager of Methanol Market Services (MMS), said that most of the methanol demand growth is in China, and most of the demand in China comes from the MTO process
.
He also said the fortunes of U.
S.
methanol producers have changed
dramatically due to low feedstock costs, strong spot and contract prices and strong demand for methanol in China.
The outlook for the global independent oil and gas exploration and production industry is positive
According to a new research report by Moody's Corporation's Investor Service, the future outlook for independent global oil and gas exploration and production companies remains positive
.
Moody's Investors Service said that although the increase in costs may weaken cash flow levels, the EBITDA of global independent oil and gas exploration and production companies will continue to maintain strong growth
in the next 12~18 months 。 Amol Joshi, Vice President of Moody's, said: "In 2015~2016, the EBITDA of the global independent oil and gas exploration and production industry fell sharply, and in 2017 there was a strong growth momentum, on this basis, we expect the EBITDA growth rate of the global independent oil and gas exploration and production industry to remain at 18%~22%
in 2018.
”
New petrochemical plants in China are becoming trendy using American ethane feedstock
The rise of the shale gas industry in the United States has increasingly affected
China's petrochemical industry.
In November 2017, INEOS and China's Xinpu Chemical Company reached an agreement to supply ethane
from the United States to a new petrochemical plant in Taixing, Jiangsu Province.
In addition, Zhejiang Satellite Petrochemical is planning to build a giant petrochemical plant
in eastern China from ethane derived from U.
S.
shale gas.
The petrochemical plant, which includes two ethylene crackers with a combined capacity of 2.
5 million tons, will be completed and commissioned by the end of 2020
.
Previously, Zhejiang Satellite Petrochemical Company and American Energy Transfer Partners (ETP) decided to form a joint venture to establish a natural gas export terminal on the US Gulf Coast for loading shale gas into very large ethane carriers for export
.
The global marine lubricants market will be reshuffled
An industry expert pointed out at a conference in Alzabi that China's "One Belt, One Road" initiative will lead to a massive influx of investment into ports outside the existing supply chains of major marine lubricant distributors, which will greatly affect the global marine lubricant market
.
Caroline Huot, Head of Global Lubricants at Cockett Marine Oil Company, a subsidiary of the Vitol Group, said: "A potential restructuring could throw established marine lubricant suppliers out of control, and the role of traditional ports such as Hong Kong and Singapore is increasingly challenging
.
"At a time of increasing uncertainty about multinationals' commitment to downstream industries, independent suppliers with about 22% of the market look likely to grab market share
.
