Shell is thinking about selling its oil fields in Iraq

By Polymers

SEATTLE (polymers.in):  Royal Dutch Shell is considering selling out of its oil fields in Iraq as part of its global USD 30 billion.
- Shell is seeking to slim down its vast oil and gas portfolio following the USD 54 billion acquisition of BG Group in February. 

OPEC is making a last-ditch bid to save the oil deal the markets want
- OPEC experts started a meeting in Vienna at 9AM and were due to make recommendations. 

OPEC Said to Remain Split as Saudis Call Cut Not Essential
- OPEC officials failed to resolve internal differences that stand in the way of an agreement to cut oil production.
- Brent crude fell as much as 1.8% to USD 47.45/bbl, after touching USD 48.81 on Monday.
- Algeria proposed Iraq cut production by 240,000 bbl/day. 

Iran Pulls Ahead in Race to Supply India With Oil
- Iran supplies in October rose 56% to 759,700 bbl/day from a month ago.
- Shipments from Saudi Arabia were 717,000 bbl/day.
- Iraq shipment were 488,000 bbl/day. 

Canadian Stocks Slide Most in Two Weeks as Oil Companies Retreat
- The S&P/TSX Composite Index fell 0.4% to 15,015.36.
- Energy producers led the index lower, falling 1.4% as a group for a third day of losses. 

Oil Climbs as Iraq Pledges to Cooperate With OPEC on Output Deal
- Futures gained 2.2% in New York.
- WTI for January delivery rose USD 1.02 to settle at USD 47.08/bbl.

Oil Investors Have USD 490 Billion Riding on Big OPEC Decision
- Oil and gas producers including Exxon Mobil Corp and Royal Dutch Shell Plc have together added USD 490 billion to their market value this year.
- The Bloomberg World Oil and Gas Index of 58 companies is up 12% this year.

Feedstock (Ethane, Ethylene, Propane, Propylene, PX, PTA, MEG, EDC, VCM)
Propylene prices march higher in Asia
- On Friday, FOB Korea propylene prices were assessed up at USD 785/MT levels, a week on week gain of USD 20/MT.
- CFR Taiwan prices of propylene were higher at USD 815/MT levels, a rise of USD 15/MT from the previous week.
- CFR China prices of propylene were assessed up at USD 820/MT levels, a week on week increase of USD 20/MT. 

Pemex says October ethylene output increases 12% on month, 16% on year
- Pemex’s ethylene production totaled 64,896/MT in October, up 12% from September.
- Pemex’s propylene output totaled 1,145/MT in October. 

NEA-SEA ethylene location spread hits record high $140/MT on firm China demand
- The price spread between CFR Northeast Asia and CFR Southeast Asia ethylene markers remained at a record high USD 140/MT.
- CFR NEA ethylene marker was assessed unchanged from Friday at USD 1,040/MT.
- In Southeast Asia ethylene market was assessed unchanged from Friday at USD 800/MT Monday.

Polymers Supply
PVC plant plans to be shut by LG Chem
- LG Chem is likely to shut its PVC plant for a maintenance turnaround in December 2016 and will be shut for a week. 

PE imports to Belarus up by 35.2% in the first nine months of 2016
- Overall imports of PE into Belarus increased to 97,800 MT in the first nine months of 2016.

Courtesy: www.polymers.io