Latest Energy, Petrochemical, Metal News Headlines | Platts

Oil

Houston (Platts)–13 Nov 2015 551 pm EST/2251 GMT
The outright price for Gulf Coast conventional gasoline hit six-year lows Friday on continued weakness in the cash gasoline and oil futures markets.
London (Platts)–13 Nov 2015 858 am EST/1358 GMT
The differential for CIF 0.1% sulfur Northwest European gasoil cargoes to the front-month ICE low sulfur gasoil futures contract slumped to a seven-and-a-half month low Thursday, as warmer-than-usual temperatures and a overhang of product in end-user tanks weighed on the market.
Singapore (Platts)–13 Nov 2015 646 am EST/1146 GMT
State-run refiner Indian Oil Corporation plans to step up imports of heavier crudes from suppliers such as Mexico and Kuwait when its refinery in the eastern state of Odisha is fully operational, a senior IOC official said Thursday.
Houston (Platts)–12 Nov 2015 548 pm EST/2248 GMT
The outright price for US Gulf Coast low sulfur vacuum gasoil reached a six-year low Thursday on weaker front-month WTI futures, which fell on bearish government data.
London (Platts)–12 Nov 2015 1038 am EST/1538 GMT
The Nigerian crude oil market remains under pressure — many grades have lost around $1/b in value since the start of October — as an abundance of sweet crude and high freight rates have failed to excite interest from refinery buyers.

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Natural Gas

Houston (Platts)–13 Nov 2015 556 pm EST/2256 GMT
Job losses among oil and gas workers in Texas, resulting from sustained low oil and gas prices, could be even more severe than initial grim estimates indicate, an economist who tracks the energy industry in the Lone Star State said this week.
London (Platts)–13 Nov 2015 845 am EST/1345 GMT
Russia’s Gazprom has reduced its forecast for natural gas output in 2015 to 427 Bcm, the first time this year it has forecast that production will drop.
Singapore (Platts)–13 Nov 2015 740 am EST/1240 GMT
The Platts JKM for December delivery was up 5 cents/MMBtu over the course of the Asian trading week, closing at $7.65/MMBtu Friday, as sentiment continued to be strong following a recent tender from Russia’s Sakhalin project, which closed last week.
Houston (Platts)–13 Nov 2015 650 am EST/1150 GMT
A proposed rule that would regulate the safety of US offshore oil and natural gas operations could instead cripple a struggling offshore sector, an official with the Independent Petroleum Association of America said Thursday.
London (Platts)–12 Nov 2015 803 am EST/1303 GMT
Gas flows through one of the two lines that make up the Nord Stream pipeline network from Russia to Germany resumed Thursday after work to remove a piece of munitions discovered near the line offshore Sweden was completed, Nord Stream said.

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Electric Power

London (Platts)–13 Nov 2015 903 am EST/1403 GMT
German weekend power prices plunged Friday as wind power output was forecast to rise again towards 30 GW as a second storm system approached Germany, with a third 30 GW potential storm now forecast for the middle of next week, according to sources.
Houston (Platts)–12 Nov 2015 550 pm EST/2250 GMT
PJM Interconnection’s total resources will exceed expected peak demand this winter by almost 46,000 MW, or about 35%, the independent system operator said Thursday.
London (Platts)–12 Nov 2015 804 am EST/1304 GMT
French day-ahead prices fell Thursday as wind generation was predicted to increase from 600 MW to 3.6 GW at peak times amid otherwise stable fundamentals, sources said.
Washington (Platts)–11 Nov 2015 527 pm EST/2227 GMT
Dominion’s Millstone-2 nuclear power unit in Waterford, Connecticut, was shut at 1 pm EST (1800 GMT) Tuesday “to address an oil leak from a reactor coolant pump,” plant spokesman Kenneth Holt said in an email Wednesday.
London (Platts)–11 Nov 2015 741 am EST/1241 GMT
German utility E.ON has sold ahead all of its planned outright power output for 2016 and 2017 at above market prices, the company said Wednesday.

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Coal

Houston (Platts)–13 Nov 2015 555 pm EST/2255 GMT
Central Appalachian coal producers and brokers continue to try and survive a shrinking and uncertain market, with little to no short-term thermal demand and sustained low prices, market players said this week.
Houston (Platts)–12 Nov 2015 552 pm EST/2252 GMT
Another sluggish week in the Cross-State Air Pollution Rule emissions market again kept prices mostly unchanged.
Houston (Platts)–12 Nov 2015 805 am EST/1305 GMT
The US over-the-counter thermal coal market was limited Wednesday to options trades for the financially settled Powder River Basin 8,800 Btu/lb contract, as physical markets were shut out.
London (Platts)–11 Nov 2015 746 am EST/1246 GMT
Colombian October thermal coal exports rose to a five-month high of 7.092 million mt, up 15.6% year on year and marginally higher month on month, data from Colombian shipping agent Deep Blue showed.
Houston (Platts)–10 Nov 2015 503 pm EST/2203 GMT
More cuts and changes to improve efficiency are expected to CSX’s Central Appalachian coal network, the railroad’s chief financial officer said Tuesday.

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Shipping

Singapore (Platts)–13 Nov 2015 237 am EST/737 GMT
Trading companies are increasingly preferring the bigger LR2 tankers to move naphtha from the Middle East to Asia, as they are currently much cheaper to hire compared with the LR1s, market participants said Friday.
Houston (Platts)–11 Nov 2015 540 pm EST/2240 GMT
A 70,000 mt petcoke cargo from BP’s Whiting, Indiana, refinery is expected to be transported out of the Newport News, Virginia, terminal next week, a shipping source said Wednesday.
Copenhagen (Platts)–11 Nov 2015 714 am EST/1214 GMT
Danish pure play product tanker group Torm said Wednesday it had record rates in the sector in the third quarter and was expanding its fleet while contemplating a New York share listing.
London (Platts)–10 Nov 2015 956 am EST/1456 GMT
The cost of sending Medium Range tankers from the UK Continent to the US Atlantic Coast has risen to its highest level in over three months due to a sharp rise in cargo flows at the start of the week, according to Platts data and market sources.
London (Platts)–10 Nov 2015 955 am EST/1455 GMT
Samarco iron ore loading operations are expected to stop at the end of the month at Brazil’s Ponta Ubu port, sources said Tuesday, following a fatal tailings dam collapse last week.

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Petrochemicals

Houston (Platts)–13 Nov 2015 558 pm EST/2258 GMT
Argentinian state-owned YPF’s return to the downstream petrochemical segment with the purchase of polypropylene producers Petroken and Petroquimica Cuyo is close to being completed, a source close to YPF’s business operations said Friday.
London (Platts)–13 Nov 2015 851 am EST/1351 GMT
The EU 28 imported 251,315 mt of propylene for the first nine months of the year, up 32% from 191,007 mt in 2014, latest Eurostat data showed Friday. At the same time, propylene imports were down 31% on the year for the Jan-Sep period to 19,989 in 2015.
Singapore (Platts)–13 Nov 2015 234 am EST/734 GMT
The Asian FOB Korea/European FOB ARA styrene monomer spread flipped to negative Thursday, hit by a surge in European SM spot prices after an unplanned outage at Shell’s Dutch Moerdijk site.
London (Platts)–12 Nov 2015 809 am EST/1309 GMT
Both the Northwest European and UK recycled polyethylene terephthalate prices remained flat this week on stable fundamentals, but sources were divided in their outlook for price direction into December.
Singapore (Platts)–12 Nov 2015 501 am EST/1001 GMT
Thailand’s Indorama Ventures Public Co.

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Metals

Sao Paulo (Platts)–13 Nov 2015 600 pm EST/2300 GMT
Mexican flat steel producers have stepped back from price increases they announced months ago and lowered prices for hot- and cold-rolled products, as well as for galvanized, local service center executives said Friday.
Washington (Platts)–13 Nov 2015 550 pm EST/2250 GMT
Rhodium prices dipped this week in light trading as speculators and producers continued to lower their offers in the face of declining platinum and palladium prices.
Singapore (Platts)–13 Nov 2015 859 am EST/1359 GMT
The import market for bulk heavy melting ferrous scrap remained sluggish in East Asia over the past week, regional trading and importing sources said Friday.
Tokyo (Platts)–13 Nov 2015 1211 am EST/511 GMT
More than 50%, or 14 million mt, of aluminum production outside China was unprofitable amid falling prices, Russian producer Rusal said Friday.
Washington (Platts)–12 Nov 2015 553 pm EST/2253 GMT
Steel industry CEOs from NAFTA countries met Thursday with appointed US government officials, including Trade Representative Michael Froman, to impress upon them the “urgency” of the steel trade “crisis,” said Thomas Gibson, president and CEO of the American Iron and Steel Institute.

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Agriculture

Santos, Brazil (Platts)–13 Nov 2015 557 pm EST/2257 GMT
Preliminary data from a crop survey done by a regional sugar industry association shows cane crush in North-Northeast Brazil is expected to reach no more than 55 million mt, local sources said Friday.
Peterborough (Platts)–13 Nov 2015 937 am EST/1437 GMT
British Sugar representatives are mulling offering fixed prices to beet farmers beyond the EU-wide lifting of sugar quotas in 2017, delegates at an industry event heard Friday.
Peterborough (Platts)–13 Nov 2015 901 am EST/1401 GMT
Calls to levy a 20% tax on sugar within the UK may not have a significant impact on sugar demand, delegates at an sugar industry conference were told Friday.
London (Platts)–13 Nov 2015 901 am EST/1401 GMT
Extreme tightness of ethanol supply in Rotterdam is expected to continue in the very short term, but prices are likely to weaken in the medium term, sources said.
Houston (Platts)–12 Nov 2015 609 pm EST/2309 GMT
US ethanol production rose by 13,000 barrels to 982,000 b/d for the week ending November 6, the highest level in 17 weeks, Energy Information Administration data showed Thursday.

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About Scott

Live next to Chevron refinery. Lots of petroleum consultants in the area. I am interested in learning more about the industry. Also, interested in finance, business, and investing in world markets.
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