By Polymers

ScrapMonster Contributor

SEATTLE (polymers.in):  Oil, Natural Gas, Coal
Russia, Saudis Move at a Different Pace as Oil Cuts Scrutinized
- OPEC’s de-facto leader Saudi Arabia publicly prodded the Kremlin to speed up and implement its full 300,000 bbl/day production cut by the end of this month. 
- Russian output has fallen 160,000 bbl/day from the October level. 

Oil Falls Amid Record US Stockpiles, Upcoming Producer Talks
- Oil dropped as US crude supplies rose to an all-time high while investors await a meeting between OPEC and its allies that may signal whether they’ll extend output curbs.
- WTI and Brent crude dipped below USD 50/bbl.
- WTI for May delivery dropped 34 cents to close at USD 47.70/bbl.
- Brent for May settlement fell 8 cents to USD 50.56/bbl. 
- Crude supplies rose by 4.95 million to 533.1 million bbl last week. 

China's Biggest Oil and Gas Producer Seen Ready to Unleash USD 85 Billion Spinoff
- PetroChina Co.’s natural gas and crude oil transportation system could be worth at least USD 85 billion dollars.
- Bernstein values the pipeline business at HK$ 3.60 per share, more than half of PetroChia’s current stock price.
- Sinopec may post an 18% rise in net income to 38.3 billion Yuan. 

Oil Price Forecasts Falling on Shale Surge, OPEC Uncertainty
- Analysts following the USD 1.8 trillion a year oil market are tempering bullish price outlook after the commodity lost about 10% of its value in less than two weeks.
- US output rising by 1.2 million bbl/day by 2018.

Thai PTTEP and Japan's Jogmec to cooperate in oil and gas production effectiveness
- Thailand’s PTT Exploration and Production and Japan Oil, Gas and Metals National Corporation or Jogmec are teaming up in research and technology development to improve production efficiency at PTTEP’s oil and gas.
- PTTEP has allocated 64% of its 2017 estimated capital expenditure of USD 1.64 billion to accelerating existing exploration and production projects in Thailand.

Polymers Price
Polypropylene (PP) prices down adjust in South East Asia
- In South East Asia, PP raffia and PP injection prices were assessed down at USD 1080/MT CFR levels, a sharp week on week drop of USD 30/MT. PP film prices were assessed at USD 1100/MT levels, while BOPP prices were also at USD 1100/MT levels, both down USD 30/MT from the previous week. PP block copolymer prices were assessed lower at USD 1150/MT CFR levels, a fall of USD 20/MT on the week.
- In India, PP raffia and PP injection prices were assessed down at USD 1150/MT CFR levels, a decline of USD 10/MT on the week. PP film prices were assessed at USD 1170/MT CFR levels while BOPP prices were also at USD 1170/MT CFR levels, both down USD 10/MT from the previous week. PP block copolymer prices were down at USD 1210/MT CFR levels, a week on week drop of USD 10/MT.

Delhi Polymer Prices
- PP Film 103.5
- PP Inj. 99
- PP Raffia 99
- HM 100
- HD Blow 99.5
- HD Inj. 99
- LDPE Film 118
- LLDPE Film 102.5
- PVC 87 

Mumbai Polymer Industries
- PP Film 100
- PP Inj. 96
- PP Raffia 97
- HM 97
- HD Blow 98
- HD INj 97
- LDPE Film 117
- LLDPE Film 98
- PVC 83
- EVA 133 

Intl. Prices
- Brent crude oil USD 50.98
- Propylene USD 875 CFR SEA
- Ethylene USD 1030 CFR SEA
- Naphta USD 455 CFR Japan
- Styrene USD 1270 CFR China

Polymers Supply
Natpet plans maintenance at PP plant
- NATPET is likely to take its PP plant off-stream for a maintenance turnaround.
- NATPET is located at Yanbu, Saudi Arabia and has a production capacity of 400,000 MT/year.

Courtesy: www.polymers.io