Iraq Oil Minister sees end to Kurd dispute as war hurts output

By Polymers (ScrapMonster Contributor)

August 17, 2016 02:17:42 AM

SEATTLE (polymers.in):  Oil flows through the Kurdistan Regional Government’s export system fell sharply in early August due to pipeline outages and production declines.
- The KRG’s pipeline to Turkey has been down for about 80 hours so far this month.

 Iraq Oil Minister Sees End to Kurd Dispute as War Hurts Output
- Jabbar al-Luaibi, the former head of Iraq’s biggest crude producer, said that he sees ways to resolve  the energy dispute with the self-governed Kurds in the north of OPEC’s No. 2 producer.
- The Kurdistan Regional Government is ready to seriously negotiate with the central government to resolve disputes.
- Iraq produced 4.36 million bbl/day in July compared with 4.44 million at the end of last year.

U.S. Shares Regain Records as Fed Outlook Hits Dollar; Oil Jumps
- US stocks rose to a record, while the dollar weakened as traders pushed back bets on higher interest rates amid uneven growth in the world’s largest economy.
- The S&P 500 advanced 0.3% to 2,190.15 in New York.
- Futures on Asian equity gauges climbed, with yen-denominated contracts on the Nikkei 225 Stock Average up 0.4% to 16,870 in Chicago.

Oil Crash Seeps Into Norway's $120 Billion Covered Bond Market
- SpareBank 1 Boligkreditt is using fewer home loans to backstop its roughly 181 billion kroner in outstanding debt. 

World tight oil production to more than double from 2015 to 2040
- US tight oil production, which reached 4.6 million bbl/day in March 2015 but fell to 4.1 million bbl/day in June 2016, has proven more resilient to low oil prices.
- By 2040, the global benchmark Brent crude oil spot price averages USD 73/bbl in the low oil price case.  

Feedstock (Ethane, Ethylene, Propane, Propylene, PX, PTA, MEG, EDC, VCM)
NWE ethylene FD spot prices slump to lowest since April
- Northwest European spot prices were assessed at a discount of 5% to the August and September monthly contract price, on Friday.
- Derivative offtake was said to be weak because of the summer holiday season and the drop in the ethylene contract price of EUR 20 to EUR 925/MT for August. 

Asia ethylene margins climb on higher spot prices
- Margins for naphtha-based ethylene in NE Asia rose by 6.0%, while margins for LPG-based ethylene rose by 11% to USD 900/MT.
- Spot prices in the region were up USD 57/MT. Co-product credits were also up by USD 41/MT for naphtha-based product and by USD 25/MT for LPG-based product.
- In SE Asia, naphtha-based ethylene margins rose by 3.7% to USD 749/MT, while LPG-based ethylene margins climbed 10% to USD 786/MT.

Polymers Demand
Stocks Hit at ALL-TIME HIGHS: Here's what you need to know
- Crude oil prices rose for a third straight day following news of the conversation between the two OPEC heavyweights to create market stability.
- The quarterly regulatory filings show recent investment holdings that could have been charged by the time they’re disclosed.
- Dropbox is thinking about going public in 2017.
- National Association of Home Builders’ housing market index climbed to 60 from 58 in July.

 Polymers Supply
US HDPE hikes weigh on sentiment in Europe
- HDPE buyers have been able to get good deals for US imports in 2016.
- HDPE imports into Europe have been strong in the first months of 2016.

Courtesy: www.polymers.io