A snapshot of today s (low oil) petrochemical industry.
|
|
- Clarence Sherman
- 6 years ago
- Views:
Transcription
1 A snapshot of today s (low oil) petrochemical industry. Will changes in global oil Industry affect tank container Asia General Meeting Singapore 5 th July
2 Agenda ICIS Analytics & Consulting Changing upstream scenes at oil & basic chemicals Chemical Value chain connecting to the feedstock Focus on Isocyanates- MDI & TDI Focus on Methyl Methacrylates (MMA & PMMA) Summary 2
3 ICIS is part of RELX Group RELX Group is a world leading provider of information and analytics for professional and business customers. The group serves customers in more than 180 countries and has offices in about 40 countries. The shares of the RELX Group are traded on the London, Amsterdam and New York Stock Exchanges. The total market capitalisation is approximately US$35bn. Reed Business Information provides data, analytics and insights that enable customers to evaluate and manage risks, and develop market intelligence, supporting more confident decisions, improved economic outcomes, and enhanced operational efficiency. ICIS is the world's largest petrochemical market information provider, and has fast-growing energy and fertilizer coverage. Its aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and insightful consulting. 3
4 Global Presence, Local Insight Key ICIS Analytics & Consulting Offices Our global capacity, the numbers speak for themselves Over 100,000 industry customers from ICIS products globally virtually every major chemical company uses ICIS Weekly contact with thousands of market participants Over 9,200 price assessments in 1,200 reports covering 180 products 4
5 Critical information as it s needed ICIS Pricing ICIS Analytics & Consulting Transactional Short-term Long-term Pricing intelligence: Chemical price reports Energy market reports Fertilizer price reports Chemical price alerts Price history News: Global real-time news service Pricing intelligence: Price Forecast reports Chemical Margin reports Chemical forward curves Analysis & forecasts: Customized Market outlook reports ICIS Chemical Business magazine Training & conferences Consulting: Integrated Supply & demand database Long term Annual Market studies Project Feasibility Studies Technical or Commercial Due Diligence Price Forecasting Competitiveness Study Feedstock (Sourcing) & Product (Distribution) Study ICIS Consulting: Powered by Data. Driven by Insight. 5
6 Crude prices are highly sensitive to myriad factors Events impacting oil 1. OPEC production 2. US production 3. Iran sanction lift 4. Financial crisis 5. Demand concerns 6. Supply / inventory 7. Currency 8. Political events 9. And more Source: EIA; historical data from ICIS Pricing Brent $/bbl Jan-1992 Jan-1993 Jan-1994 Asia financial crisis Jan-1995 Jan-1996 Jan-1997 Jan-1998 Jan-1999 Jan Iraq war OPEC reduces production targets Jan-2001 Jan-2002 Jan-2003 Global financial crisis Katrina Jan-2004 Jan-2005 Jan-2006 OPEC reduces production targets Jan-2007 Jan-2008 Jan-2009 Jan-2010 Shale oil boom Jan-2011 OPEC moves away from price targets; spigots are open Libya turmoil Jan-2012 Jan-2013 Jan-2014 Jan-2015 OPEC keeps production targets Demand worries Iran sanction lifting China currency devaluation Jan
7 Crude supply is expected to remain long through the year with or without Iran OPEC continues its strategy to fight for market share and at the same time continues to try to cap oil production to help oil prices. Lifting of sanctions on Iran may add considerably to the global supply IEA forecasts up to 600kb/d increase in June. Iran is expected to seek to increase sales to Asia and recapture market share in Europe. That said, uncertainty still clouds around the volume of Iranian supply coming back to the market. Lifting of US crude export ban is unlikely to result in significant volumes of crude exports from US with narrowing WTI-Brent differential Source: IEA December Oil Market Report 7
8 Crude outlook in a few words Shale / Tight oil via Fracking has transformed oil availability Uncontrollable at best, driven equally by sentiments and fundamentals. Continue to expect volatility Brexit is a good example OPEC remains influential US has ability to react & take center stage Iran will be in the market China continues to look for self sufficiency (& will explore shale gas / oil amidst a fine balance between reform & control) 8
9 Three Major Pivots in the Petrochemical World Resurgent US Availability of very competitive tight oil and shale gas tilts the world supply scene Attract investments into ethylene derivatives capacity Swing producers for oil Emergent Middle East Clear intent to integrate downstream, leveraging its vast feedstock resources to capture as much value-adds This is however currently weighed down by low oil environment Iran likely resurfaces as a major player Divergent China Frantic building of integrated value chains & capacities Moving towards increasing self-sufficiency with noticeably Intermediates exports Continue attesting new feedstock options Current slowdown and accompanied economic reform is part of development progress and likely will make China stronger 9
10 Changing Scenes of Rests of Asia Petrochemical World India Among the fastest growing Asian petrochemical markets Surplus Naphtha but high import dependency for petrochemicals mainly due to lack of olefins feedstock Make In India intended to drive investment, however is marred by inward looking fiscal policies China Southeast Asia Growth initiatives impeded by domestic issues Relatively small market size with most, if not, all capacities requiring export markets to optimize cost of production Buzz at Indonesia continues albeit skepticism Japan and South Korea (ex-china) Matured markets with majors looking for growth in overseas markets Domestic capacities continue on their consolidation path Price setting region due higher cost of production 10
11 Simplified Olefins Production Routes Traditional & Non-Traditional FCC Splitter Traditional Routes Oil NGL Refinery Fractionation LPG Naphtha Gas Oil Ethane LPG Steam Cracker Ethylene Propylene Butadiene Metathesis Butenes Non-Traditional Routes (Propane) PDH Coal Gasification Methanol MTO Source: ICIS Consulting 11
12 CTO and MTO move up the cost curve when oil prices drop Cash Costs, $/tonne Estimated Cash Costs of Regional Ethylene Supply $100 $50 $ Asian Ethylene Price 2016 to-date CTO MTO (merchant) CTO MTO (merchant) CTO MTO (merchant) Cumulative Capacity, million tonnes/year Source: ICIS Consulting; 2016 to-date 12
13 Traditional Route (Steam Cracker) Non-Traditional Route (PDH, CTO, MTO) Naphtha-based producers seeing improved margins US ethane-based ethylene derivatives exports still viable albeit narrower spread against Asia market Advantage for Asian (imported) ethane cracker is driven by concurrent strategic reasons PDH remains a viable high-cost route CTO moves to the far right in the ethylene cost curve MTO based on merchant methanol shifts to the top of cost curve Advantage of MTO project integrated to US methanol eroded 13
14 Condensate splitter/aromatics sits near middle of cost curve Cash costs, Constant 2015 $/tonne Estimated Cash Costs of Regional PX production (Constant 2015 $) NA-MX NEA-MX SEA-STDP-Nap NEA-STDP-Nap NEA-Cond-Nap NA-Cru-Nap SEA-Cru-Nap NEA-Cru-Nap SEA-Cond-Nap EU-cru-Nap 1200 SEA 2015 ME- STDP NEA-MX NEA STDP NA-MX STDP ME-cru-Nap EU-MX 800 SEA-Cond-Nap NEA-Cond-Nap NA-Cru-Nap NEA-MX NEA-STDPSEA-STDP SEA-Cru-Nap NEA-Cru-Nap NA-STDP EU-cru-Nap NA-MX EU-MX 2016 NA-Cru-Nap ME-cru-Nap ME-cru-Nap SEA-Cru-Nap EU-cru-Nap NEA-Cru-Nap NEA-Cond-Nap SEA-Cond-Nap Cumulative Capacity, million tonnes/year (overall account for 90% global share) 2014 Global PX Capacity by Source Pygas, 4% TDP, 11% Condensate-Naphtha Reformer, 15% TA, 9% Crude-Naphtha Reformate, 60% ME Middle East, NA North America, EU Europe, NEA North East Asia, SEA South East Asia Cru - Nap Crude Oil based Naphtha Reformer Aromatics Complex ; Cond - Nap Condensate based Naphtha Reformer Aromatics Complex STDP - STDP Complex with toluene feed ; MX - PX Standalone Complex with feed MX Lower crude oil price presents a lower feedstock cost to integrated aromatics production both from crude and condensate PX units fed by condensate splitter sits somewhere in the middle of the cost curve 14
15 Chemical Value Chain connecting to the Feedstock Oil/Gas Refinery operations Cracker / Reformer operations Commodities Specialties Heavy Naphtha Pygas Catalytic Reformer BTX Extraction Benzene Toluene Isocyanates MDI, TDI FCC Splitter Benzene PMMA ISO Containers Oil Gas/NGL Refinery Fraction ation LPG Naphtha Gas Oil Ethane LPG Methane Steam Cracker Methanol synthesis Propylene Ethylene Cumene i-c4/tba Methanol Acetone MMA 15
16 Isocynates MDI & TDI : Essential building block of the Polyurethane Chain Benzene Toluene Propylene PO MDI (PMDI/MMDI) PMDI + rigid polyols Applications in refrigerators, insulation, construction OR TDI MMDI + butanediol (BDO) + adipic acid + methyl ethyl ketone (MEK) Pre-polymer for applications in shoe soles, adhesives, TPU resins, spandex, synthetic leather Polyether Polyols TDI + flexible polyols Foams for furniture, mattresses, automotive seats 16
17 MDI Supply-Demand Overview 9000 Global MDI Supply Demand ( ) 100 SOUTH & SE ASIA 4% Thousand Tonnes % Utilization NORTH EAST ASIA 42% NORTH AMERICA 22% EUROPE 26% SOUTH & CENTRAL AMERICA 2% MIDDLE EAST 1% AFRICA 2% FORMER USSR 1% CAPACITY CONSUMPTION PRODUCTION UTILIZATION RATE 2016 Demand : 5.58 million tonnes Global MDI Industry is slightly oversupplied with average plant utilization close to 75% China accounts for about 33% of global MDI demand MDI demand to grow at about an average rate of 4.1% over the period Source: ICIS Supply-Demand Database 17
18 MDI Trade Flow Outlook Emerging Middle East in future (Sadara) MDI Key Trade Flows in Thousand Tonnes (2015 vs 2020) North America (2015) 36 (2020) 65 (2015) - 18 (2020) (2015) 76 (2020) 25 Africa Europe (2015) -32 (2020) 55 (2015) 0 (2020) 60 (2015) 46 (2020) 35 Middle East (2015) -1 (2020) 100 Former USSR (2015) - 45 (2020) 35 NE Asia South & Southeast Asia (2015) 18 (2020) 25 (2015) - 44 (2020) 5 (2015) 195 (2020) 150 from NA South & Central America *Volumes in 000 tonnes Middle East to emerge as a key exporter to Africa, SA & SE Asia (Sadara) Europe exports from Europe to Asia to reduce over the next 5 years NE Asia exports to reduce over time and consolidate to fewer markets Source: ICIS Supply and Demand Database 18
19 MDI Recent Pricing Trends Isocynates MDI Prices and Spreads ( ) Slump in MDI late-2014 following feedstock 2500 Price $/tonne Downtrend curbed in Nov Spread $/tonne Improving MDI-benzene spread since Apr Polymeric MDI - Benzene Spread Benzene FOB Korea Polymeric MDI CFR SE Asia Polymeric MDI CFR China 0 Price Correlation MDI - Benzene 75% MDI-Naphtha 63% MDI-Crude 61% Benzene prices correlate highly with naphtha price changes in Asia MDI-Benzene spread have remained fairly robust even in a lower feedstock price regime However new capacity addition poses a risk on an already oversupplied industry operating at 75% utilization 19
20 TDI Supply-Demand Overview TDI Supply Demand ( ) SOUTH & SE ASIA 10% NORTH AMERICA 13% SOUTH & CENTRAL AMERICA 8% Thousand Tonnes % Utilization NORTH EAST ASIA 41% EUROPE 19% CAPACITY CONSUMPTION PRODUCTION UTILIZATION RATE MIDDLE EAST 3% AFRICA 4% FORMER USSR 2% 2016 Demand: 1.95 million tonnes Global TDI Industry is also oversupplied with average plant utilization below 70% Recent capacity additions in China has resulted in lower operating rates globally TDI demand to grow at about an average rate of 3.4% over the period
21 TDI Trade Flow Outlook Middle East to substitute EU export to Asia TDI Key Trade Flows in Thousand Tonnes (2015 vs 2020) (2015) 36 (2020) 40 North America (2015) 72 (2020) 50 (2015) 15 (2020) 20 (2015) 11 (2020) (2015) 29 (2020) 20 Europe (2015) -13 (2020) 20 (2015) 0 (2020) 40 Middle East (2015) -4 (2020) 20 Former USSR (2015) 44 (2020) 0 NE Asia South & Southeast Asia (2015) 216 (2020) 180 (2015) 14 (2020) 20 to NA South & Central America (2015) 58 (2020) 45 *Volumes in 000 tonnes Source: ICIS Supply and Demand Database Europe exports from Europe to ME & Asia to reduce over the next 5 years Middle East to emerge as a key exporter to Africa & SE Asia (Sadara) NE Asia Exports from Japan & Korea remain with China to self-sufficiency 21
22 TDI Recent Pricing Trends Isocynates TDI Prices and Spreads ( ) Slump in TDI late-2014 following feedstock 3000 Surge in TDI since Apr 2016 amid tight supply in Asia outside China 2500 Price $/tonne Spread $/tonne Widening toluene-tdi spread since Apr TDI-Toluene Spread Toluene FOB Korea TDI CFR China TDI CFR SE Asia 500 Price Correlation TDI Toluene 77% TDI-Naphtha 66% TDI-Crude 64% Toluene prices are more related to gasoline as blend stock and benzene as feedstock Relatively higher price of toluene due to gasoline demand has squeezed TDI-Toluene spread in 2015 China s self sufficiency and planned capacities add to the concern of industry utilization already below 70% 22
23 In Summary - MDI Key Drivers MDI demand growth in emerging markets of India and SE Asia spandex and shoe MDI-Benzene spreads have remained fairly robust even in a lower feedstock price regime However, Middle East new capacity may potentially add to oversupply & change in trade flows With China also planning new capacity, will plants continue to run at low rates? In Summary - TDI Key Drivers Weaker furniture sector demand and dwindling automotive sales to weigh on prices With Middle East upcoming capacity, Chinese capacity expansions likely to be on hold With China increasingly exporting TDI, European supply to rest of Asia may be curtailed 23
24 MMA & PMMA Growing importance among acrylic polymers MBS (MethylMethacrylate Butadiene Styrene) PVC modifier MMA (Methyl Methacrylate) PMMA (PolyMethyl Methacrylate) Acrylic Glass Aquarium glass Bone Cement Acrylic Furniture & Glassware Bone Cement 24
25 MMA Supply-Demand Overview MMA Global Supply Demand ( ) Thousand Tonnes % Utilization NORTH EAST ASIA 44% SOUTH & SE ASIA 11% NORTH AMERICA 21% EUROPE 20% SOUTH & CENTRAL AMERICA 1% CAPACITY CONSUMPTION PRODUCTION UTILIZATION RATE MIDDLE EAST 1% AFRICA 1% 2016 Demand: 1.98 million tonnes FORMER USSR 1% Global MMA Industry is slightly oversupplied with global capacity utilization slightly lower than 80% More than 60% of MMA demand is consumed primarily for PMMA in Asia Faster MMA capacity growth relative to consumption poses a risk for lower capacity utilization in the future 25
26 MMA Global Trade Flow Middle East looks to export to Asia & Europe MMA Key Trade Flows in Thousand Tonnes (2015 vs 2020) To NEA (2015) 28 (2020) 30 North America (2015) 11 (2020) 15 (2015) 52 (2020) 50 (2015) 14 (2020) 15 Europe (2015) - 1 (2020) 20 Middle East (2015) 5 (2020) 0 (2015) - 3 (2020) 20 (2015) - 2 (2020) 20 China South & Southeast Asia (2015) 73 (2020) 40 (2015) 79 (2020) 80 Other NE Asia from NA South & Central America *Volumes in 000 tonnes Source: ICIS Supply and Demand Database Middle East may emerge as a key exporter to Europe and India beyond 2017 with limited supply to China Singapore - to continue to export to China while exports to Europe may be curtailed US to face competition from ME exporting to Europe Other NEA Exports to China on downward trend 26
27 PMMA Supply-Demand Overview Thousand Tonnes PMMA Supply Demand ( ) % Utilization SOUTH & SE ASIA 8% NORTH EAST ASIA 46% NORTH AMERICA 22% EUROPE 19% SOUTH & CENTRAL AMERICA 1% CAPACITY CONSUMPTION PRODUCTION UTILIZATION RATE MIDDLE EAST 1% FORMER USSR 2% AFRICA 1% 2016 Demand: 1.98 million tonnes Global PMMA Industry is adequately supplied with average plant utilization close to 80% Asia accounts for more than 55% of world PMMA demand used primarily for acrylic glass 27
28 PMMA Global Trade Flow Middle East looks to export to rest of Asia competing with Japan, Korea and Singapore PMMA Key Trade Flows in Thousand Tonnes (2015 vs 2020) (2015) 8 (2020) 8 North America (2015) 2 (2020) 4 (2015) 1 (2020) 2 (2015) 6 (2020) 10 Europe (2015) 4 (2020) 0 Middle East Former USSR (2015) - 12 (2020) 20 China (2015) 120 (2020) 100 Other NE Asia (2015) 42 (2020) 35 (2015) 4 (2020) 5 South & Southeast Asia South & Central America *Volumes in 000 tonnes Source: ICIS Supply and Demand Database Europe Exports to Asia on a decline Middle East May emerge as an important exporter to China Rest of Asia Singapore and Other NEA continue to be a key exporter to China 28
29 MMA & PMMA Recent Pricing Trends 3500 MMA & PMMA Prices and Spreads ( ) Feedstock effect on MMA prices 3000 More Supply in China 2500 Price $/Tonne Spread $/tonne Improving spreads MMA-Acetone Spread MMA-Ethylene Spread Acetone CFR China Ethylene CFR SE Asia MMA CFR SE Asia PMMA CFR SE Asia 0 Price Correlation PMMA-MMA 90% MMA Acetone 80% MMA - Naphtha 65% MMA - Crude 64% PMMA prices although correlated to feedstock MMA prices, remain fairly shielded from energy price fluctuations Spot MMA prices have been under downward pressure due to supply overhang from China & feedstock volatility Ethylene based MMA production margins squeezed since the fall in crude prices and tightness in Ethylene supply in Asia 29
30 In Summary - MMA & PMMA Key Drivers Spot MMA prices have been under downward pressure due to supply overhang from China & feedstock volatility Ethylene based MMA production margins squeezed since the fall in crude prices and tightness in Asian Ethylene supply. Imposing Anti dumping duties - China s attempt to increase domestic MMA capacity utilization European PMMA trade to Asia on a decline and Middle East may emerge as a key exporter into Asia 30
31 Key messages Crude prices is at best uncontrollable Fundamental shifts in world trades due shales that led to low oil outlook with China moving towards self sufficiency in some intermediates and Middle East moving downstream. Alternate routes to make basic chemicals (Olefins & Aromatics) come good or bad times Consumer demands will drive performance & specialty chemicals Upstream feedstock prices affect but not as significant as product supply/demand balance Anticipate future (trade flow) trends help to strategically position ISO-container business 31
32 THANK YOU & QUESTIONS? Contact ICIS today for a confidential discussion about how we can help to address your business challenges and support your decision-making. Ee Foong Ewe Vice President eefoong.ewe@icis.com ICIS Consulting: Powered by Data. Driven by Insight. 32
May Feedstock Disruptions in Chemicals chains necessitate business model innovation
May 2014 Feedstock Disruptions in Chemicals chains necessitate business model innovation Strategy& has based findings on its proprietary feedstock model Strategy& global feedstock model Feedstock developments
More informationIHS Petrochemical Outlook
IHS Petrochemical Outlook Presentation to Indian Petrochem 2014 Tony Potter Vice President Asia Pacific IHS Chemical October 30, 2014 IHS CHEMICAL Best-in-Class Brands Brought together to form the most
More informationGlobal Olefins Review
Presented to: Asia Petrochemical Industry Conference Raw Materials Committee Meeting May 2, 24 Kuala Lumpur, Malaysia Mark Eramo Vice President Olefins & Elastomers meramo@cmaiglobal.com Agenda! Ethylene
More informationGlobal Petrochemical Market Outlook
Global Petrochemical Market Outlook Leveraging Competitive Feedstocks Given Energy Market Uncertainty Presented To: Congreso Argentino de Petroquimica June 14, 216 Centro Costa Salguero Buenos Aires, Argentina
More informationLight Olefins Market Review. Bill Hyde, Senior Director Olefins and Elastomers Foro Pemex Petroquimica June 7, 2012
Light Olefins Market Review Bill Hyde, Senior Director Olefins and Elastomers Foro Pemex Petroquimica June 7, 212 N. America Energy Market Shift Felt Around The Petrochemical World $US per Million Btu
More informationMarc Laughlin Associate Director, Methanol & Acetone for the Americas June 5, 2013
Methanol Marc Laughlin Associate Director, Methanol & Acetone for the Americas June 5, 2013 Value Chain - Methanol Feedstocks Product Derivatives Products / End Uses Sectors Natural Gas Coal Methanol Formaldehyde
More informationPRESENTATION TO FOURTH IEA-IEF-OPEC SYMPOSIUM ON ENERGY OUTLOOKS
PRESENTATION TO FOURTH IEA-IEF-OPEC SYMPOSIUM ON ENERGY OUTLOOKS Nathalie BRUNELLE Senior VP Strategy, Development, Research Refining & Chemicals January 22, 214 Riyadh, Saudi Arabia janv.-7 juin-7 nov.-7
More informationThe Petrochemical Industry From Middle Eastern Perspective?
The Petrochemical Industry From Middle Eastern Perspective? Hydrocarbon Journey in Kuwait 1946 ENTERING CRUDE EXPORT MARKET 1949 FIRST REFINERY COMMISSIONED 1938 1 st COMMERCIAL OIL DISCOVERY 1963 AMMONIA
More informationProspects for the Basic Petrochemical Value Chains
Prospects for the Basic Petrochemical Value Chains Steve Zinger Managing Director, Asia SZinger@cmaiglobal.com May 14, 29 Seoul, South Korea Singapore Shanghai Houston New York London Düsseldorf Dubai
More informationFeedstock Challenges and Innovative Routes to Feedstock
Feedstock Challenges and Innovative Routes to Feedstock 6 th Indian Oil Petrochemical Conclave 2017 Balasubramaniam Ramani, Senior Consultant, ICIS Analytics & Consulting 1 Agenda ICIS Consulting Context
More informationINTRODUCTION Enabling Iran s Future Through Partnership and Technology
UOP Olefins Seminar; Efficient Monetization of Natural Gas and LPG UOP Limited Nigel Orchard December 2016 INTRODUCTION Enabling Iran s Future Through Partnership and Technology UOP Creates Knowledge for
More informationImpact of a changing global landscape
Impact of a changing global landscape David Lines - Principal Agenda Global Polyolefin Business: Challenges and Prospects Petrochemical & Polymer Market Overview Investment Landscape Growth Opportunities
More informationMr. Steve Jenkins Head Global PX and Derivatives PCI X&P Malaysia
Mr. Steve Jenkins Head Global PX and Derivatives PCI X&P Malaysia Recognized as a leading global authority in the commercial analysis of the paraxylene and derivatives industry sector, Mr. Steve Jenkins,
More informationTHE CHANGING WORLD OF RAW MATERIALS: IMPACT OF ADHESIVES AND COATINGS. Ingrid Brase
THE CHANGING WORLD OF RAW MATERIALS: IMPACT OF ADHESIVES AND COATINGS Ingrid Brase Presentation Outline Supply chain overview Factors impacting feedstock supply Crude oil Natural gas Supply chain Raw material
More informationFundamentals of Petrochemical Industry
Fundamentals of Petrochemical Industry Akil Sahiwala Marketing Manager Dow Polyurethanes The Dow Chemical Company AGENDA Petrochemical Value Chain Overview Feedstocks to the Industry Chemical Value Chains
More informationInvestment Planning of an Integrated Petrochemicals Complex & Refinery A Best Practice Approach
Investment Planning of an Integrated Petrochemicals Complex & Refinery A Best Practice Approach RPTC, Moscow, 19 September 2012 David Gibbons Principal Process Consultant Foster Wheeler. All rights reserved.
More informationPolyurethanes & Intermediates
Polyurethanes & Intermediates Tecnon OrbiChem Seminar at KICHEM 212 Seoul - 2 November, 212 Philippa Davies GLOBAL POLYURETHANE TRENDS MDI TDI Polyols Green polyurethanes Trends and opportunities POLYURETHANE
More informationKBR Technology Business
KBR Technology Business Tanya Niu ------ Director, Chemicals 2013 Ethane to Ethylene Global Summit, Houston, TX Oct 30 th 2013 KBR, Inc. All Rights Reserved 1 KBR Technology Portfolio Refining ROSE Visbreaking
More informationCHEMSYSTEMS. Report Abstract. Petrochemical Market Dynamics Feedstocks
CHEMSYSTEMS PPE PROGRAM Report Abstract Petrochemical Market Dynamics Feedstocks Petrochemical feedstocks industry overview, crude oil, natural gas, coal, biological hydrocarbons, olefins, aromatics, methane
More informationMarket Report Series: Oil 2018 Analysis & Forecasts to Energy Community 10 th Oil Forum, Belgrade, 25 September 2018
Market Report Series: Oil 218 Analysis & Forecasts to 223 Energy Community 1 th Oil Forum, Belgrade, 25 September 218 Short term update: crude prices (excl. WTI) up strongly Aug/Sep $/bbl 8 Benchmark Crude
More informationSHALE-ADVANTAGED CHEMICAL INDUSTRY INVESTMENT
9 April 2013 SHALE-ADVANTAGED CHEMICAL INDUSTRY INVESTMENT Martha Gilchrist Moore Sr. Director, Policy Analysis and Economics Shale Gas Shale gas is possibly the most important energy development in the
More informationReviewing a volatile year for PET What does the future hold?
Reviewing a volatile year for PET What does the future hold? Matt Tudball Head of European Markets www.icis.com 1 Agenda PET price and sentiment drivers in 2017: Europe, Americas, Asia & feedstocks Predictions
More informationThe Global Downstream Market
The Global Downstream Market ANIMP Add. 2 1 The global picture The market is a challenging one for many refiners, but the picture is varied, region by region Significant capacity expansion is expected
More informationThe Global Petrochemical Industry Landscape
The Global Petrochemical Industry Landscape Leaders of Tomorrow Dr Andrew Spiers Senior Vice President aspiers@nexant.com 27 Copyright by Nexant Inc. 2016 All rights reserved Nexant Energy & Chemicals
More informationGrowing Latin America: Feedstocks and Competitiveness
MIDSTREAM DOWNSTREAM CHEMICAL Presentation Growing Latin America: Feedstocks and Competitiveness November 216 ihsmarkit.com Dr. Nick Rados, Global Business Director, Feedstocks +1 832 619 8593, nick.rados@ihsmarkit.com
More informationImpact of Petroleum Pricing. Raw Material Market Dynamics for Metal Coatings
Impact of Petroleum Pricing Raw Material Market Dynamics for Metal Coatings Petroleum & Natural Gas Markets Have Direct and Indirect Impact on RM Costs Direct Raw Material Availability and Pricing Indirect
More informationExecutive Panel Discussion
Theme: Executive Panel Discussion, Thursday Dec 14, 2017 Executive Panel Discussion Moderator: Dave Witte - IHS Markit Panelists: Walter Pinto - Lyondellbasell Tony Jones - Valero Ron Corn - CPChem Mike
More informationPetrochemicals: Opportunities and Challenges
Petrochemicals: Opportunities and Challenges Sandeep Poundrik Joint Secretary (Refineries) Ministry of Petroleum & Natural Gas 5 th October, 2018 1 Petrochemical Growth World scenario mmboe: million barrels
More informationfeedstock will be paramount. Olefins production will be optimizing between ethane, propane and naphtha feedstock; while aromatics producers will be
Naphtha and octane are feedstocks for production of aromatics, but are also important gasoline blendstocks. In 2012-13 demand for naphtha and octane was high, but presently octane and specially naphtha
More informationChemical Feedstocks: Heavy Squeeze, All Light Long JIWON CHUNG DIRECTOR, ASIA BUSINESS DEVELOPMENT & CONTENT
Chemical Feedstocks: Heavy Squeeze, All Light Long JIWON CHUNG DIRECTOR, ASIA BUSINESS DEVELOPMENT & CONTENT JCHUNG@OPISNET.COM BRENT SEP 2014-OCT 2016 $/barrel 125 100 75 50 25 0 September 2014 February
More informationDownstream Petroleum Sector The Growing Prominence of Asian Refining
Downstream Petroleum Sector The Growing Prominence of Asian Refining Mr. Fahad Al-Dihani Deputy CEO,MAA Refinery, Kuwait National Petroleum Company-Kuwait Outline.. Global refining trends Kuwait s Position
More informationDevelopments in China s methanol market and implications for global supply Seoul
Developments in China s methanol market and implications for global supply Seoul Anu Agarwal 8 May 2015 London Houston Washington New York Portland Calgary Santiago Bogota Rio de Janeiro Singapore Beijing
More informationThursday, March 6, 2014 Houston, TX. 8:30 9:40 a.m. AN ECONOMIST S-EYE VIEW OF THE ENERGY INDUSTRY: HYDROCARBON HAT TRICK
Thursday, March 6, 214 Houston, TX 8:3 9:4 a.m. AN ECONOMIST S-EYE VIEW OF THE ENERGY INDUSTRY: HYDROCARBON HAT TRICK Presented by Jesse Thompson Business Economist Federal Reserve Bank of Dallas, Houston
More informationOpportunity in Map Ta Phut Retrofit Knowledge Sharing Session. February 18, 2016
Opportunity in Map Ta Phut Retrofit Knowledge Sharing Session February 18, 2016 PTTGC Flexible Feedstock and Secured Product Offtake 2 PTTGC s feedstock sourcing is process through both external sourcing
More informationOCTANE THE NEW ECONOMICS OF. What Drives the Cost of Octane and Why Octane Costs Have Risen Since 2012 T. J. HIGGINS. A Report By:
THE NEW ECONOMICS OF OCTANE What Drives the Cost of Octane and Why Octane Costs Have Risen Since 2012 A Report By: T. J. HIGGINS Contents Foreword... 1 1. Executive Summary... 2 2. Tracking the Changing
More informationAbstract Process Economics Program Report 222 PETROLEUM INDUSTRY OUTLOOK (July 1999)
Abstract Process Economics Program Report 222 PETROLEUM INDUSTRY OUTLOOK (July 1999) Global energy demand is rising, with fossil fuels oil, natural gas, and coal continuing to provide more than 90% of
More informationFocus on Refinery Product Flows
December 14, 2016 Focus on Refinery Product Flows Stratas Advisors Gasoline Imports in 2014 CIS and the Middle East are the largest gasoline exporters to Asia. While China and India do not import gasoline
More informationMeasuring the Quality of the Crude Oil Supply and its Impact on Basis Differentials
Measuring the Quality of the Crude Oil Supply and its Impact on Basis Differentials Quality Flexibility Relationship Innovation Information = Advantage Ali AL-SUMAITI PhD Candidate, Colorado School of
More informationINDUSTRY OVERVIEW OVERVIEW OF THE PETROLEUM INDUSTRY AND SUPPLY CHAIN
Certain information and statistics set out in this section and elsewhere in this document are derived from various government and other publicly available sources, and from the market research report prepared
More informationENERGY & FEEDSTOCKS OUTLOOK Global Plastics Summit
SEPTEMBER 2016 ENERGY & FEEDSTOCKS OUTLOOK Global Plastics Summit Mark Eramo, Vice President IHS Chemical +1 281-752-3202 mark.eramo@ihsmarkit.com Energy & Feedstocks Agenda Chemical Value-Chain & The
More informationDownstream & Chemicals
Downstream & Chemicals Pierre Breber Executive Vice President 017 Chevron Corporation Downstream portfolio Fuels refining & marketing Integrated value chains Lubricants & additives Globally positioned
More informationAsian Premium of Crude Oil and Importance on Preparation of Oil Market in Northeast Asia
Asian Premium of Crude Oil and Importance on Preparation of Oil Market in Northeast Asia Yoshiki Ogawa The Institute of Energy Economics, Japan The 26 th IAEE International Conference 7 June 2003, Prague
More informationNew York Energy Forum
Presentation at the New York Energy Forum 30 June 2014 Antoine Halff The oil market at a junction Balances loosen up on paper but must be seen in perspective The unconventional supply revolution enters
More informationOvercapacity in the Xylenes Chain
Overcapacity in the Xylenes Chain Steve Jenkins PCI Xylenes & Polyesters Asia Sdn Bhd AUGUST 214, MUMBAI Polyester Chain Vital Statistics Since 2, 669 million tonnes of polyester have been produced Polyester
More informationRegional Energy Trade and Refining Industry in Northeast Asia
15 th Northeast Asia Economic Forum 5-7 September 2006, Khabarovsk Russia Regional Energy Trade and Refining Industry in Northeast Asia Kensuke Kanekiyo Managing Director The Institute of Energy Economics,
More informationThe Supply of Oil. Projections to Oil and the Macroeconomy in a Changing World Federal Reserve Bank of Boston June 9, 2010 Boston, MA
The Supply of Oil Projections to 2035 Oil and the Macroeconomy in a Changing World Federal Reserve Bank of Boston June 9, 2010 Boston, MA Howard Gruenspecht, Deputy Administrator Near-term oil price uncertainty
More informationWelcome to Covestro. Deutsche Bank US Chemicals Fieldtrip covestro.com. March 7,
Welcome to Covestro Deutsche Bank US Chemicals Fieldtrip 2016 covestro.com 1 Forward-looking Statements This presentation may contain forward-looking statements based on current assumptions and forecasts
More informationThe Changing Face of Global Refining
The Changing Face of Global Refining OPIS National Supply Summit Las Vegas, Nevada October 24-26, 2010 John B. O Brien, Executive Chairman Baker & O Brien, Inc. All rights reserved. The Changing Face of
More informationUS Shale Liquids Surge: Implications for the Crude Oil Value Chain
US Shale Liquids Surge: Implications for the Crude Oil Value Chain Praveen Gunaseelan Vantage Point Advisors Matt Thundyil Transcend Solutions COQA Spring Meeting Houston March 2012 Transcend Solutions
More informationGas & electricity - at a glance
$/barrel /tco 2 e p/therm /MWh Gas & electricity - at a glance Week-on-Week Annual Gas Price Changes Short-term gas contracts jump Cold snap forecast for the first half of February, lifting demand Longer-dated
More informationPOLYOLEFIN PRICE TRENDS AND TRADE FLOWS IN KEY AREAS Is It Possible To Mitigate Market Volatility?
POLYOLEFIN PRICE TRENDS AND TRADE FLOWS IN KEY AREAS Is It Possible To Mitigate Market Volatility? Zachary Moore ChemOrbis 11-12 June, 2014 FUTURE OF POLYOLEFINS 2014, Düsseldorf Agenda 1. ChemOrbis introduction
More informationPerforming In A Volatile Oil Market
Performing In A Volatile Oil Market Matti Lehmus Executive Vice President, Oil Products Capital Markets Day Key Trends Impacting Refining Margins Demand growth to resume after steep drop Supply growth
More informationGlobal Polybutadiene Rubber (BR) Market Study ( )
Global Polybutadiene Rubber (BR) Market Study (2014 2025) Table of Contents 1. INTRODUCTION 1.1. Introduction to Polybutadiene Rubber Market Product Description Properties Industry Structure Value Chain
More informationDOWNSTREAM PETROLEUM 2017 DOWNSTREAM PETROLEUM
DOWNSTREAM PETROLEUM International and Asian Refining The global refining industry is fundamentally changing as emerging and maturing trends re-shape the global supply and demand patterns for crude oil
More informationRecent Developments in EU Refining and in the Supply and Trade of Petroleum Products
Recent Developments in EU Refining and in the Supply and Trade of Petroleum Products Second Meeting of the EU Refining Forum Brussels, 27 November 2013 Toril Bosoni, International Energy Agency OECD/IEA
More informationRecent Developments in EU Refining and in the Supply and Trade of Petroleum Products
Recent Developments in EU Refining and in the Supply and Trade of Petroleum Products Third Meeting of the EU Refining Forum Brussels, 22 May 2014 Toril Bosoni, International Energy Agency OECD/IEA 2014
More informationWorld Geographic Shares
World Geographic Shares North America South America Europe Africa Asia Australia/ Oceania 18% 13% 7% 22% 33% 6% World Population Shares North America South America Europe Africa Asia Australia/ Oceania
More informationRefining/Petrochemical Integration A New Paradigm. Anil Khatri, GTC Technology Coking and CatCracking Conference New Delhi - October 2013
Refining/Petrochemical Integration A New Paradigm Anil Khatri, GTC Technology Coking and CatCracking Conference New Delhi - October 2013 Presentation Themes Present integration schemes focus on propylene,
More informationIEA Refinery Outlook European Recovery in Sight?
IEA Refinery Outlook European Recovery in Sight? Platts 6 th Annual European Refining Markets Conference Brussels, 24-25 September 2012 Toril Bosoni, International Energy Agency Subdued Global Oil Demand
More informationStaying Competitive in a Feedstock Driven Market. Prepared for: NY Metro Section of AIChE October 19, 2015
Staying Competitive in a Feedstock Driven Market Prepared for: NY Metro Section of AIChE October 19, 2015 Agenda Nexant Overview Changes in the Global Petrochemical Landscape Global Industry Dynamics -
More informationPetroleum Planning & Analysis Cell
MONTHLY REPORT ON INDIGENOUS CRUDE OIL PRODUCTION, IMPORT AND PROCESSING & PRODUCTION, IMPORT AND EXPORT OF PETROLEUM PRODUCTS May 2018 Petroleum Planning & Analysis Cell (Ministry of Petroleum & Natural
More informationRefinery & Petrochemical Integration- An IOCL Perspective
Refinery & Petrochemical Integration- An IOCL Perspective Aromatics Olefins Refinery Presented by : Brij Behari Chief General Manager(Technical) Indian Oil Corporation Ltd Source: Argus APR'14 JUN'14 AUG'14
More informationAbout Czarnikow. The Premier Provider of Sugar Market Services. Czarnikow has been in the sugar business since 1861
About Czarnikow The Premier Provider of Sugar Market Services Czarnikow has been in the sugar business since 1861 Czarnikow is the leading professional services company in the sugar market Czarnikow has
More informationRefining/Petrochemical Integration-A New Paradigm Joseph C. Gentry, Director - Global Licensing Engineered to Innovate
Refining/Petrochemical Integration-A New Paradigm Introduction The global trend in motor fuel consumption favors diesel over gasoline. There is a simultaneous increase in demand for various petrochemicals
More informationPetroleum Planning & Analysis Cell
MONTHLY REPORT ON INDIGENOUS CRUDE OIL PRODUCTION, IMPORT AND PROCESSING & PRODUCTION, IMPORT AND EXPORT OF PETROLEUM PRODUCTS February 2018 Petroleum Planning & Analysis Cell (Ministry of Petroleum &
More information2010 Interim Results Presentation. August 23, 2010 Hong Kong
Sinopec Corp. 21 Interim Results Presentation August 23, 21 Hong Kong Disclaimer i This presentation and the presentation materials distributed herein include forwardlooking statements. All statements,
More informationThe Game Has Changed The Influence Of Shale Development On The Global Petrochemical Industry
The Game Has Changed The Influence Of Shale Development On The Global Petrochemical Industry Bill Hyde, Senior Director Olefins and Elastomers Foro Pemex Petroquimica June 7, 2012 Presentation Agenda Outlook
More informationMaximizing Refinery Margins by Petrochemical Integration
Topic Maximizing Refinery Margins by Petrochemical Integration Presented by : Rajeev Singh Global Demand for Refined Products 29% 29% 29% 29% 30% 30% 33% 10% 10% 10% 9% 8% 8% 7% 7% 7% 7% 7% 7% 7% 22% 22%
More informationGlobal High Performance Anticorrosion Coatings Market Study ( )
Global High Performance Anticorrosion Coatings Market Study (2014 2025) Table of Contents 1. INTRODUCTION 1.1. Introduction to High Performance Anticorrosion Coatings Market Product Description Materials,
More informationEnergy Security of APEC Economies in a Changing Downstream Oil Environment
IEEJ Feb. 2018 4th APEC OGSN Forum on 7 March 2018 Session2-2 Energy Security of APEC Economies in a Changing Downstream Oil Environment Takashi MATSUMOTO and Ichiro KUTANI Manager, Global Energy Group
More informationWhere Are Oil Prices Headed? Graham Loveland Senior Consultant, Oil
Resource Scramble or Market Rebalance: Where Are Oil Prices Headed? Graham Loveland Senior Consultant, Oil Presentation Outline & Approach Outline Key messages Demand Supply Costs & Prices Refining & Products
More informationOutlook for Global Economy and State of the Petrochemicals Industry. Clive Gibson, Vice President, Nexant
Outlook for Global Economy and State of the Petrochemicals Industry Clive Gibson, cgibson@nexant.com Vice President, Nexant Outlook for Global Economy and State of the Petrochemicals Industry Sapporo,
More informationMarket Report Series Oil 2018 Analysis and Forecasts to Columbia University Centre on Global Energy Policy, New York, May 22 nd 2018
Market Report Series Oil 218 Analysis and Forecasts to 223 Columbia University Centre on Global Energy Policy, New York, May 22 nd 218 Robust global oil demand growth to 223 1.8 1.6 1.4 1.2 1..8.6.4.2.
More informationProcess Economics Program
IHS Chemical Process Economics Program Report 290 Bio-Butadiene By Dipti Dave and Susan Bell December 2014 ihs.com/chemical IHS Chemical agrees to assign professionally qualified personnel to the preparation
More informationMethodology. Supply. Demand
Methodology Supply Demand Tipping the Scale 1 Overview Latin America and the Caribbean, a major petroleum product importing region, provides an important counterbalance to surpluses in refined product
More informationSulphur Market Outlook
Sulphur Market Outlook The Outlook for the future Supply and Balance of the Global Sulphur Market Joanne Peacock, CRU International/BSC Creon Moscow December 2009 LONDON RALEIGH WASHINGTON MINNEAPOLIS
More informationUS Shale Oil Development and Impact on Aromatics Supplies
US Shale Oil Development and Impact on Aromatics Supplies Chuck Venezia Vice President, Petrochemicals Argus DeWitt September 23, 2014 The Shale revolution in the US has changed global market dynamics
More informationDownstream & Chemicals
Downstream & Chemicals Mark Nelson Executive Vice President Downstream & chemicals portfolio Fuels refining & marketing Focused, regional optimization Petrochemicals Advantaged feed, scale and technology
More informationPakistan Refining Industry An Overview
Pakistan Refining Industry An Overview October 2016 Oil World Crude Oil Reserves Largely sustained level of reserves Largest Region Contributes 47% (2014: 47.2%) Global proven oil reserves in 2015 fell
More informationRefining/Petrochemical Integration-A New Paradigm
Refining/Petrochemical Integration-A New Paradigm Introduction The global trend in motor fuel consumption favors diesel over gasoline. There is a simultaneous increase in demand for various petrochemicals
More informationGlobal Downstream Petroleum Outlook
Global Downstream Petroleum Outlook Claude Mandil Executive Director International Energy Agency 3 rd OPEC International Seminar Vienna, 12 September 26 Spare Refinery Capacity Has Tightened 9 1% 85 95%
More informationOil Markets into Peter Davies Chief Economist, BP plc British Institute of Energy Economics London. 24 January, 2006
Oil Markets into 26 Peter Davies Chief Economist, BP plc British Institute of Energy Economics London. 24 January, 26 Outline Oil and energy today How did we get to here? Prospects for 26 Into the medium
More informationEuropean Energy Union Impact on the Refining & Petrochemical Business. John Cooper, Director General Budapest, 13th October 2015
European Energy Union Impact on the Refining & Petrochemical Business John Cooper, Director General Budapest, 13th October 2015 FuelsEurope represents 42 Member Companies 100% of EU Refining Page 2 AGENDA
More informationBusiness Opportunities downstream. Hellenic Petroleum s perspective
Business Opportunities downstream Hellenic Petroleum s perspective 9 th SE Europe Energy Dialogue Thessaloniki, Greece 29-30 June 2016 Daniil Antonopoulos Thessaloniki Refinery Operations Manager Hellenic
More informationNylon is Resilient What about the Nylon Industry?
Nylon is Resilient What about the Nylon Industry? 6th China International Polyamide & Intermediates Forum 3-5 Dec 28, Rainbow Hotel, Shanghai, China Speaker : Charles Fryer Company : Tecnon OrbiChem Figure
More informationOperating Expenses and Margin Analysis of the European Union (EU) Refineries vs Regional Peers
Operating Expenses and Margin Analysis of the European Union (EU) Refineries vs Regional Peers Tracy Ellerington Third Meeting of the EU Refining Forum 22 May 214 Solomon Benchmarking Global Standard We
More informationPetroleum Planning & Analysis Cell
MONTHLY REPORT ON INDIGENOUS CRUDE OIL PRODUCTION, IMPORT AND PROCESSING & PRODUCTION, IMPORT AND EXPORT OF PETROLEUM PRODUCTS November 2017 Petroleum Planning & Analysis Cell (Ministry of Petroleum &
More informationDownstream & Chemicals
Downstream & Chemicals Mike Wirth Executive Vice President Strategy Focused on Competitive Returns Deliver competitive returns and grow earnings across value chain Improving Operational Excellence Growing
More informationIndia s Current Position in the Petrochemicals Industry
India s Current Position in the Petrochemicals Industry 6 th Annual Platts Asian Petrochemicals Markets 2017 April 19-20, 2017, Shanghai, China K.K.Jain, Executive Director (Petrochemicals-Projects) 1
More informationWest Texas Oil vs NYMEX Natural Gas ($ / MM btu) Jul-08. Jan-07. Jan-05. Jan-08. Jan-09. Jan-06. Jan-10. Jul-07. Jul-05. Jul-10. Jul-06.
Jan-98 Jul-98 Jan-99 Jul-99 Jan-00 Jul-00 Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12
More informationTABLE OF CONTENTS OECD/IEA, 2017
TABLE OF CONTENTS Foreword... 3 Acknowledgements... 4 Executive Summary... 13 Coal s decade of stagnation... 13 While some demand centres are in decline, others are taking off... 13 High prices endure,
More informationWim Van de Velde, Director of Marketing, Plastic Additives business
Examining The Competiveness Of North American Polypropylene And The Role Of Increased Propylene Supply To Allow For Improved Economics And Greater Derivative Market Penetration, an additives approach Wim
More informationFollow-up briefing to the Portfolio Committee on Trade and Industry on beneficiation
Follow-up briefing to the Portfolio Committee on Trade and Industry on beneficiation 24 October 2014 Presentation overview Our understanding of beneficiation Polymer business briefing Conclusion Sasol
More informationINTERTANKO Istanbul Tanker Event. Demand Developments. David Martin Oil Industry & Markets Division OECD/IEA
INTERTANKO Istanbul Tanker Event Demand Developments David Martin Industry & s Division david.martin@iea.org - Istanbul, April 20-23, 2008 Medium-Term Outlook What is driving oil prices? Fundamentals or
More informationThe Outlook for Energy: A View to 2040
The Outlook for Energy: A View to 24 Dr. David Khemakhem Riyadh, Kingdom of Saudi Arabia March 25, 213 This presentation includes forward-looking statements. Actual future conditions (including economic
More information2000 TO 2015 AN INDUSTRY TRANSFORMED:
2 TO 215 AN INDUSTRY TRANSFORMED: WHAT HAS CHANGED AND WHAT MIGHT HAPPEN NEXT? Bruce Griffin TZMI.COM About TZMI TZMI is a global, independent consulting and publishing company with offices in Australia,
More informationMathew George Indian Oil Corporation Ltd. Global Propylene & Derivatives Summit Houston 2014
Mathew George Indian Oil Corporation Ltd Global Propylene & Derivatives Summit Houston 2014 Agenda for the Presentation Acrylic Acid An Introduction Understanding Acrylic Acid Value Chain Global Market
More informationPetroleum Planning & Analysis Cell
MONTHLY REPORT ON INDIGENOUS CRUDE OIL PRODUCTION, IMPORT AND PROCESSING & PRODUCTION, IMPORT AND EXPORT OF PETROLEUM PRODUCTS September 2018 Petroleum Planning & Analysis Cell (Ministry of Petroleum &
More informationPVC and Chlor-Alkali In a Vibrant Region
PVC and Chlor-Alkali In a Vibrant Region Joel Lindahl Director, Chlor-Alkali & Vinyls Americas Foro PEMEX Petroquímica Junio 2011 1Singapore Shanghai Bangkök Houston New York London Düsseldorf Dubai Latin
More informationTrinidad and Tobago Energy
Trinidad and Tobago Energy Conference 2017 Advantages of Vertical Integration in a Low Oil Price Environment Astor Harris Vice President Refining and Marketing 2017 January 24 Market Fundamentals 1Q13
More information