Unprecedented Events and Their Effects on the Chemical Industry
An article published by the World Economic Forum (WEF) reports on the pandemic and its short and long-term effects on the chemical industry. Noting a shift in underlying trends due to a shocking frequency of global impacts, WEF gives insight as to where these trends may lead, and why they point in those directions. To […]
Egypt Asks for Up to $1.0Bil
A recent article by CNBC states that Egypt is seeking up to one billion dollars in compensation for the recent blockage of the Suez canal by the Ever Given, a cargo ship owned by freight company, Evergreen. Osama Rabie, the chairman and managing director of the state-owned Suez Canal Authority, reports that the money would […]
Chemical, polymer procurers face significant challenges
An editorial published by ICIS, a leading marketing analysis firm in the energy, petrochemical and fertilizer industries, said that the prolonged freeze on the Texas-Louisiana border is just the latest in a long line of weather and other natural disasters starting with Hurricane Harvey in 2017 to disrupt the chemical industries market. To read the […]
Texas Freeze Brings Worldwide Plastics Shortage and Skyrocketing Prices
A recent article in the Wall Street Journal reports a global shortage of essential plastics due to chemical plant shutdowns caused by the February Texas freeze. The weather anomaly triggered massive blackouts that brought the world’s largest petrochemical complex to its figurative knees. Plant closures started a global snowball effect that resulted in skyrocketing prices […]
U.S. crude oil production falls 8% in 2020 — largest decrease on record
A recent Today in Energy article, published by the U.S. Energy Information Administration, announced the largest crude oil production decrease in the U.S. Energy Information Administration’s records. U.S. production fell from 12.2 million barrels per day (b/d) in 2019 to 11.3 million b/d in 2020, a decrease of 8%. Apparently, the production decline was the […]
