Sunday Thematic & Weekly Recap

Can Europe Afford To Make Chemicals – Can They Afford Not To?
January 15, 2023
Commodities Mentioned:
Polymers, PVC, PP, PE, PU, PC, PS, PET, Critical Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, RNG, SAF, Biofuels, Synthetic Fuels, Ammonia, Oil, Carbon, Renewable Power, Wind, Solar, Geothermal, Hydro, Nuclear, R-PET, Coal, EVs, Waste, PV
Companies Mentioned:
Enterprise Products, Nova Chemicals, Westlake, Oxy, Shin-Etsu, Formosa Plastics, Orbia, LyondellBasell, Oneok, Chevron, Chevron Phillips Chemical, QatarEnergy, Dow, ExxonMobil, Shell, Maire Tecnimont, Air Liquide, Air Products, Linde, BASF, Idemitsu, Tigo Energy, ATOME Energy, Bloom Energy, Petrobras, Lukoil, Yara, Showa Denko, Hexion, Engie, Nexam Chemical, Elogen, Advent Technologies, AmmPower, Charbone Hydrogen, Primobius, Vopak, RecycLIco, Elcogen, Deere, Lululemon, Tesla, Stellantis, Toyota, Olin, Methanex, Celanese, Natgasoline, Mitsui, Southern Chemical, Lanxess, TotalEnergies, Braskem, ICL Group, Golden Minerals, Sika, Entegris, Topsoe, Fidelis, TechnipFMC, Wintershall Dea, Lightning eMotors, Lafarge Canada, TransAlta Corporation, Lubrizol, LSI Industries, Momentum Midstream, Oman LNG, Mattress Firm, Boeing, Johnson Matthey, bp, Hanwha, Aramco, ADNOC, Neom, Aker Carbon Capture, OMV, Borealis, Covestro, Huntsman, Wanhua, Univar, Brenntag, AkzoNobel, Trafigura, Chemours, FREYR Battery, H.B. Fuller, Nuvera, BYD, Stolthaven, Resonac Holdings, Provaris, Norwegian Hydrogen, Posco Chemical, Dongseo Chemical, Samyang, KB Home, TSMC, Alcoa, Equate, MEGlobal, Maersk, Evonik, Clariant, Asian Paints, Röhm, Cheniere, Freeport LNG, PKN Orlen, Plug Power, Nestlé, ConocoPhillips, Octopus Hydrogen, Greenergy, Saint-Gobain, Allison Transmission, CF Industries, Nutrien, LSB Industries, Citigroup, JPMorgan, Goldman Sachs

C-MACC Sunday Thematic & Weekly Recap 151

Can Europe Afford To Make Chemicals – Can They Afford Not To?

  • European chemical industry competitiveness has been falling for decades – its higher energy prices and decarbonization costs than other regions make it worse.
  • European governments can do little to support the industry but should not be comfortable with greater reliance on imports for such critical industrial inputs.
  • Near term, relative costs and global oversupply suggest a more negative potential scenario for Europe, but this could also drive a negative US surprise.
  • Recent energy price weakness has driven more optimistic outlooks for 2023, although still weak. We remain focused on the challenge of higher interest rates.
  • Otherwise, we look at how oil revenues could be deployed in energy transition spending, some contract price moves in the US, China, and growth.

Last week we discussed 31 Chemicals and Related Products and 124 Companies

See PDF below for all charts, tables and diagrams

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