Helping you navigate the new normal
Oil markets remain poised between fear of recession and fear of a US attack on Iran. But gradually it seems that fears about a war are reducing, whilst President Trump’s decision to ramp up the trade war with China makes recession far more likely. The chart of Brent prices captures the current uncertainties: It shows
Polymer markets face two major challenges in coming months. The most immediate is the arrival of the major US shale gas-based ethylene and polyethylene expansions. The longer-term, but equally critical challenge, comes from growing public concern over plastic waste, particularly in the ocean. The EU has set out its vision for a new plastics economy, where: “All plastic packaging is reusable or […]
The post Goodbye to “business as usual” model for plastics appeared first on Chemicals & The Economy.
China’s strategies for oil, refining and petrochemical production are very different from those in the West, as analysis of Sinopec’s Annual and 20-F Reports confirms. As the above chart shows, it doesn’t aim to maximise profit: □ Since 1998, it has spent $45bn on capex in the refining sector, and $38bn in the chemicals sector □ […]
Sinopec, China’s largest chemical company, has just published its operating results for 2014. We don’t yet have all the details, but the chart above highlights the key points of its cumulative performance since it first filed public accounts in 1998: It has invested Rmb 288bn ($41bn) in capital expenditure for refining, and Rmb 239bn ($33bn) for chemicals (blue columns) […]
Sinopec is China’s largest chemical producer and its second largest refiner. The blog’s annual review of its published Results confirms its uniqueness in global markets. The numbers confirm that it remains focused on increasing production, not profit. It will be No 2 in global ethylene capacity next year as a result. The chart above highlights the key metrics, based […]
Sinopec is China’s main company in refining and chemical markets. Although it is listed on world stock markets, the government remains its largest shareholder with a 76% stake. As such, it follows government priorities rather than western commercial …
Globalisation had a golden age between 1982-2007. Trade barriers fell almost everywhere. Companies focused on achieving a ‘lowest cost’ position, in order to maximise their competitive advantage.
Today, however, the world is starting to look quite d…
Sinopec is China’s leading petchem producer. Its H1 results, out this week, confirm the blog’s concern that China’s growth surge has stalled.
The chart shows Sinopec’s view of domestic demand growth for ethylene (blue line). After falling to zero in…