By Polymers (ScrapMonster Contributor)
August 18, 2016 03:21:59 AM
SEATTLE (polymers.in):
Afghanistan may have mouth-watering oil riches, but opium still rules
this economy amid a lack of any real investment.
- Production declined in the
decades of fighting that followed, with current natural gas output levels at
just 450,000 cubic meters for the domestic market.
Oil Gives Pause to $64 Billion Kazakh
Wealth Fund on Asset Sales
- Samruk-Kazyna with assets worth over
USD 64 billion is in no hurry to kickstart the process, waiting until oil prices
recover and Russia exits its recession.
Oil Stocks Unfazed by Commodity’s Plunge
Seen Increasingly Risky
- US crude is down by more than 10% from its
highest close this year on 8th June.
- Crude has fluctuated on mixed signals
since declining more than 20% into a bear market and closing below USD 40/bbl in
the first week of August.
- WTI crude hovers around USD 45.
Oil Drillers Parsley, Concho Add to
Permian Shale Holdings
- Parsley agreed to pay USD 400 million for
drilling rights across 11,672 acres.
- Parsley is paying the equivalent of
about USD 34,000 an acre.
Polymers
Demand
Colombia's Esenttia sees Q2 PP sales tick up 2%:
Ecopetrol
- Essentia’s polypropylene sales in the Q2 totalled
107,651/MT, up 2% from the Q2 of 2015.
- Essentia is Colombia’s sole producer
of polypropylene resin, with a capacity of 500,000 MT/year.
Stocks Slip: Here's what you need to
know
- The giant health insurer announced on Monday that it would be
pilling out of nearly 70% of the countries in which it offers coverage under the
Affordable Care Act.
- Home Depot earnings per share of USD 1.97 on revenue
of USD 26.5 billion matched analysts’ forecasts.
- Hain Celestial crashed 27%
after disclosing an internal accounting probe.
- Billionaire Paul Tudor Jones
is laying off about 15% of his hedge fund’s staff.
Japan’s economic growth
disappoints
- Gross domestic product grew at an annualised rate of
0.2% in the three months to June, below market forecasts for 0.7% and a marked
slowdown from the 2% rate in the Q1.
- Nikkei 225 star index dropped 0.3% on
concerns that Asia’s second-largest economy will continue to struggle.
Courtesy: www.polymers.io
