As July draws to a close, ethane prices remain in free fall with major headwinds working against them, primarily in the form of plant outages that have severely reduced domestic cracking capacity.
Ethane prices had been expected to begin their long-awaited improvement this summer, but that progress appears to be getting stunted once again.
Ethane prices had the largest decrease the first full week of July as it remains closely related to gas prices, which tumbled this week. Ethane was also hurt by the continued outage of several crackers undergoing expansions or maintenance.
Stable natural gas prices is resulting in greater A&D activity.
The NGL market is experiencing a down period this summer as infrastructure outages, construction delays and cool weather have combined to make this a lost season.
Domestic crude oil and condensate production will continue to grow rapidly through the end of this decade, according to a just-released Tudor, Pickering, Holt & Co. study.
A crude carrier chartered by LUKOIL’s international marketing and trading arm LITASCO arrived in southern Iraq's port of Basra to receive the first batch of oil as part of the recovery of LUKOIL's costs from phase one of the West Qurna-2 project.
Penn Virginia Corp. (PVA) sold the right to build and operate a crude oil gathering and intermediate transportation system covering a portion of its Eagle Ford Shale acreage to Republic Midstream LLC for $150 million.
Key North American Hub Prices: August 1, 2014
Apache Corp. heeded advice from activist hedge fund Jana Partners LLC and is exiting two costly natural gas projects as it considers selling some or all of its international assets.
Key North American Hub Prices: July 31, 2014
According to the latest report from research and consulting firm GlobalData, Global polypropylene capacity increased at a compound annual growth rate (CAGR) of 5.2% from 2003 to reach 65 million tons per year (mtpy) in 2013.
Houston-based Westlake Chemical Partners LP, a limited partnership formed to operate, acquire and develop ethylene production facilities and related assets, launched its IPO of 11,250,000 common units representing limited partner interests.
Koch Industries Inc.’s subsidiary Flint Hills Resources LLC significantly expanded its chemicals business with the completion of its purchase of PetroLogistics LP and its general partner, PetroLogistics GP LLC.
According to its latest report, research and consulting firm GlobalData expects global polyethylene demand to rise by about 3.7% per year between 2013 and 2018.