IHS Chemical Week

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July 29, 2016
Phillips 66 says that second-quarter earnings in its chemical segment, which consists of its 50% stake in Chevron Phillips Chemical (CPChem), declined 36% to $190 million year-on-year...
July 29, 2016
US benzene inventory is expected to tighten further in August, according to IHS Markit, as fewer imports are likely to arrive from Asia. Spiking prices in Europe could also draw material away. The situation is likely to be short-lived, as imports from Asia could pick up again in September on renewed supply from Jurong Aromatics Corporation (Singapore) and lower buying from China, owing to falling crude prices and styrene turnarounds in the region....
July 29, 2016
Delays in ethylene expansion projects by LyondellBasell Industries (Houston) and Chevron Phillips Chemical (CPChem; The Woodlands, Texas) could mean a tight US market in 2017. LyondellBasell and Phillips 66, which operates CPChem as a joint venture with Chevron, revealed the developments during their respective quarterly earnings calls on 29 July....
July 29, 2016
ExxonMobil Corporation reports second-quarter earnings in its chemical segment of $1.217 billion, down $29 million, or 2%, year-over-year (YOY), reflecting strong US asset management gains in the year-ago quarter....
July 29, 2016
The Adhesive and Sealant Council (ASC; Bethesda, MD) has appointed William Allmond as president, effective 15 August. Allmond joins ASC from the SOCMA where he worked for the past ten...
July 29, 2016
Petróleo Brasileiro SA (Petrobras; Rio de Janeiro, Brazil) has announced that it is in exclusive talks for selling its stakes in Companhia Petroquímica de Pernambuco (PetroquímicaSuape; Ipojuca, Brazil) and Companhia Integrada Têxtil de Pernambuco (Citepe; Recife, Brazil) to Alpek SAB de CV (Monterrey, Mexico)....
July 29, 2016
LyondellBasell Industries (Houston) reports second-quarter net income of $1.1 billion, down 18% year-over-year (YOY), maily on lower ethylene margins in the America. Sales totaled $7.3 billion, down 20% YOY. Adjusted earnings of $2.45/share fell short of the average analyst estimate of $2.51/share, as compiled by Thomson Reuters (New York)....
July 29, 2016
LyondellBasell Industries (Houston) says it has made a final decision to build a 500,000 metric tons/year high-density polyethylene (HDPE) plant on the US Gulf Coast. LyondellBasell plans to start up the plant, which will be the first to commercialize the company’s new Hyperzone polyethylene technology, in 2019. The company did not identify the site of the new plant....
July 29, 2016
Cabot Microelectronics reports second-quarter net income 89.2% higher year-on-year (YOY), to $18.7 million, on higher sales, lower operating expenses, and a lower tax rate. Adjusted...
July 29, 2016
Private equity firm The Carlyle Group (Washington, DC) is selling 41,621,996 shares of Axalta Coating Systems Ltd., in a share offer expected to close on 2 August. Axalta shares are...
July 28, 2016
Eastman Chemical reports net earnings down 14.0% year-on-year (YOY) to $257 million on steep declines in chemical intermediates and fibers....
July 28, 2016
Praxair Inc. today reported net income up 30% year-on-year (YOY), to $399 million, on sales down 3%, to $2.67 billion. Volumes were comparable to those of the year-ago quarter, while...
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