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Total is ‘Well-Positioned’ for Coming Downturn

11:03 AM MDT | October 6, 2008 | Rebecca Coons

The petrochemical industry is following a downward trend due to weaker-than-expected markets in 2008, marked by high feedstock costs, lagging polymer prices, excess capacity, and overall poor economic conditions, Bernard Claude, president and CEO of Total Petrochemical USA told attendees in a keynote address at CW’s Global Forecast Conference, held in New York late last month. For example, it will take 3-5 years for global ethylene demand to match excess capacity coming online in 2008-10 in the Mideast and Asia, “unless there are closures,”...

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