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Global Chemicals Quick Review
Competition from Asian base oil producers is intensifying
Asian refiners have long been working to ease global market appetite for API Class II and III base oils, but will face increasing competition
from suppliers in the Middle East and elsewhere, ICIS analysts said.
Ventena Pathare, senior editor of Axuns, said base oil suppliers in the Middle East are already exporting base oil products to European and U.
S.
markets to compete with Asian suppliers, and will soon enter the Asian market
.
Pathare said Axis expects U.
S.
refiners to join the competition in Asian markets, and U.
S.
refiners are currently expanding their base oil business
in India.
Axuns said that the gradual increase in the supply of Group II base oils in the global market, coupled with attractive prices, will gradually increase
the pressure on Asian Group I base oil plants.
In the North American and European markets, these factors have led to the closure
of a large number of Class I base oil plants over the past two decades.
CP Chem opens a new PE plant in Texas, USA
Recently, Chevron Phillips Chemical Company (CP Chem) officially opened two new polyethylene (PE) plants
in the Old Ocean plant in Texas, USA.
The two units are part of CP Chem's $6 billion U.
S.
Gulf Coast petrochemical project, named PE Unit 40 and Unit 41, each with a capacity of 500,000 tons
.
The project includes two new PE units in Old Ocean and a new ethane cracker
at the Cedar Bayou plant in Texas.
Mark Lashier, Chairman and CEO of CP Chem, said: "We announced the construction of these world-scale installations in 2011 and the commencement of construction in 2014, and today CP Chem celebrates the successful start of commercial production
of both units.
With the commissioning of these new plants, we can penetrate new markets, reach new customers and expand our global presence
.
”
Chevron and Microsoft partner to advance digital transformation
U.
S.
oil company Chevron has announced a seven-year partnership with Microsoft to form a company to serve as Chevron's primary cloud service provider to accelerate the adoption of advanced technologies, including analytics and the Internet of Things (IoT), to boost the company's performance and efficiency
.
The strategic partnership with Microsoft is part of Chevron's overall digital strategy and the result of Chevron's multi-year effort to streamline information technology (IT) operations by creating a digital core connection
between the company's engineers and operations through flexible analytics and improved automation.
Adopting Microsoft's Azure platform will allow Chevron to evolve its IT workforce from infrastructure support to access to more advanced technologies, as well as optimize exploration, reservoir management, production operations, midstream logistics and marketing operations
.
The UK chemical industry is worried about the impact of Brexit
The UK pharmaceutical and chemical industries are increasingly concerned about whether politicians will be able to make a breakthrough on negotiated terms before Britain formally leaves the EU in March 2019
.
The British Chemical Industry Association (CIA) and the European Chemical Industry Association (CEFIC) said Brexit could significantly affect the UK chemical industry and hurt trade
.
What worries the UK chemical industry most is that the country's chemical companies do not have time to establish new business processes
before Brexit.
CIA Chief Executive Stephen Elliott said: "We call on negotiators on both sides to make rapid progress
.
The CIA and Cefic set out a series of conditions
in a joint statement.
They said politicians must ensure that the chemical industry avoids rising costs and logistical problems
associated with Brexit during the negotiation process.
