Industry News
Chemical Industry News
CRUDE SUMMARY: Crude benchmarks down as strong supply news, demand concerns bearish for market
Iran commits to nuclear non-proliferation treaty President Trump clarifies likely tariff implications in run up to trade deadline Reports that OPEC+ have moved their monthly meeting to Saturday...
Hydrogen Policy: RED III Transport Obligation, Spain
LONDON (ICIS)-- On 3 July 2025, the Spanish ministry for the ecological transition and the demographic challenge (MITECO), opened consultation on the draft Royal Decree on the promotion of renewable...
French nuclear-curtailment risk could have limited bullish effect on PSV spot
French nuclear power curtailment risk could support Italian gas PSV spot contracts in week 29 Italian CCGT demand spiked in week 27 amid reduced power imports from France Trader views reflected one...
Spanish, French gas TSOs launch joint venture for BarMar hydrogen pipeline
LONDON (ICIS)—On 3 July French gas transmission system operators (TSOs) NaTran and Terega, and Spanish TSO Enagas announced the launch of a joint venture to develop the BarMar hydrogen pipeline, a...
Europe toluene July contract price assessed at an increase
LONDON (ICIS)--The Europe toluene July contract price has been assessed at an increase of $5/tonne, a little under 1%, from June. With contract parties having confirmed neither settlement nor number,...
US Woodside, Mexico’s Pemex joint oil venture 25% complete, remains on budget and time
SAO PAULO (ICIS)--Woodside’s Trion crude oil joint venture with Mexico’s state-owned Pemex is 25% complete and construction is running on budget and on time with expected start-up date for 2028,...
Orlen could owe Gazprom $290 million following tribunal court decision
Russia’s Gazprom granted “partial award” in arbitration proceedings with Poland's Orlen Orlen could have to pay around $290 million after tribunal retroactively modifies contract price...
Brazil’s crude production set to peak in 2028 as hurdles spring up – IEA
SAO PAULO (ICIS)--Brazil's oil output is projected to increase by 640,000 barrels/day from 2024 to 2028, reaching 4.1 million barrels/day before declining to 3.8 million barrels/day by 2030, the...
European acetone spot prices slide as supply overruns demand
LONDON (ICIS)--Spot prices on Europe's acetone market eased this week as supply continued to outweigh demand. There was no further talk of pushing up prices. Upstream volatility eased last week, with...
European Q3 phenol adder yet to finalize, benzene increase to be passed on
LONDON (ICIS)--Phenol contract adders have mainly been finalized for Q3, but there is still feedback pending from some market participants. What is clear is that feedstock benzene contract prices...
Germany new-car sales fall 5% in H1, EV sales rise
LONDON (ICIS)--Germany’s domestic new-car sales fell in June and the first six months of 2025, but sales of electric vehicles (EVs) rose, according to the latest data from German auto industry...
Spain unlikely to reprise role in reloading LNG for Europe
France is likely to continue outcompeting Spain for LNG cargoes for onward selling into pipeline markets as reload interest wanes More LNG import infrastructure, reversal of pipeline flows from...
WEEKLY GAS OUTLOOK: Capacity auctions in focus ahead of Russian gas phaseout
Additional reporting by Aura Sabadus LONDON (ICIS)--The European gas market narrative shifted back to a mix of fundamental and regulatory focus moving into week 28. With the ceasefire between...
WEEKLY POWER OUTLOOK: Heatwave to support European power prices in week 28 despite cool, windy start
LONDON (ICIS)--Cooler temperatures and high wind generation are likely to pressure UK and central European power spot prices through the first half of week 28. However, the return of heatwave...
Canadian goods exports to US fall for fourth month amid tariff turmoil
TORONTO (ICIS)--Canadian merchandise exports to the US fell for a fourth consecutive month in May and share of exports going there plunged in the midst of tariff and trade uncertainties. Following a...
PODCAST: ‘Can we stop pretending that key economies are fundamentally strong? They are not.’
LONDON (ICIS)--As geopolitical tensions cooled, the chemicals industry did not have time to react to the spike in oil prices, and the seasonal demand drop in Europe could be more severe than the...
Plant status: S Korea’s KPIC to run cracker at 87-88% for Jul
SINGAPORE (ICIS)--Here is a plant status report: Name: KPIC Location: Onsan, South Korea Product: Ethylene, Propylene Capacity (tonnes/year): 900,000 (ethylene), 460,000 (propylene) Event start: July...
Plant status: South Korea’s GS Caltex to run mixed-feed cracker at 85% in July
SINGAPORE (ICIS)--Here is a plant status report: Name: GS Caltex Location: Yeosu, South Korea Products: Ethylene, propylene Capacity (tonnes/year): 900,000 (ethylene), 470,000 (propylene) Event...
Europe PE, PP demand to ease in summer, allaying tariff fears
LONDON (ICIS)--Europe’s polyethylene (PE) and polypropylene (PP) demand may drop significantly over the summer, taking the sting out of fears about EU-US tariffs due to take effect from 9 July, and...
European glycerine spot prices nudge three-year high on biodiesel maintenance
LONDON (ICIS)---Extended shortages pushed European spot glycerine prices close to a near three-year high this week, as scheduled maintenance curbed biodiesel plant run rates. Suppliers allocated...