Sunday Executive Summary

Taking The Downturn Seriously: Most Are Getting There, Slowly

November 5, 2023

Companies Mentioned: Orbia, Westlake, Ineos, TotalEnergies, Braskem, LyondellBasell, ExxonMobil, Dow, Enterprise Products, BASF, OMV, BP, Mitsui Chemical, Linde, Air Liquide, Chevron, Pemex, DSM-Firmenich, Petronet LNG, Zhejiang Petroleum, Asahi Kasei, Nippon Sanso, Lotte Fine Chemical, PetroChina, FMC, Adama, ADM, Lummus, LG Chem, S-Oil, EcoBlue, Rongsheng Petrochemical, Reliance, Shin-Etsu, Lake Charles LNG, Marathon Petroleum, Wintershall DEA, Petronas, Norsk Hydro, Repsol, Siemens Energy, ABB, Green Plains, Mitsubishi Electric, Trinseo, Zeon, Livent, Albemarle, DuPont, Huntsman, Evonik, Denbury, Shell, Croda, Mitsubishi Chemical, Sumitomo Chemical, SK Geocentric, Gail, Harima Chemicals, Taoka Chemical, Hanwha Solutions, Idemitsu, Chandra Asri, Versalis, Itochu, Neste, Oriental Energy, Chesapeake, Air Products, Cheniere, Orsted, E3 Lithium, Hexion, ProPetro, Myers Industries, LittelFuse, CF Industries, LSB Industries, Nutrien, Yara, Energy Transfer, ConocoPhillips, Celanese, Ashland, Axalta, CP Chemical, Novonix, Ingevity, Tosoh, Alfa Laval, Ube, Entergy, Solvay, Tellurian, Compass Minerals, Williams, Lithium Royalty Corp., W.R. Grace, NuStar Energy, Siam Cement Group, Mangalore Chemicals & Fertilizers, Equinor, Ford, Volkswagen, NuScale, Cyclyx, BlackRock, Navigator, Interzero, Borealis, Rialti S.p.A., Eastman, AdvanSix, Lanxess, Aramco, PPG, Stepan, Brenntag, Daicel, Fluor, Orion S.A., Oneok, Phillips 66, Orlen, Henkel, Lenzing, Maersk, Unigel, Adani Enterprises, Southwestern Energy, Alliant Energy, BYD, KG Mobility, Vision RNG, WIN Waste, SK Innovation, Apple
Commodities Mentioned: Plastics, PVC, Polyethylene, Polypropylene, PU, PC, PET, Critical Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Fossil Fuels, Renewable Fuels, EVs, Ammonia, Polyester, Ethylene Carbonate, Offshore Wind, Solar, Renewable Power, CCUS, Water, Methanol, Acetic Acid, Ethylene, VAM

C-MACC Sunday Thematic & Weekly Recap 193

Taking The Downturn Seriously: Most Are Getting There, Slowly

As we reach the tail end of earnings season, we see examples of feedstock advantages providing a competitive edge and global competition intensifying.
Companies are beginning to rethink strategy and revising cost reduction targets upwards, but we think much more will come in a more challenging 2024.
Meanwhile, as energy transition economists sound alarm bells on critical metal supply, their prices are falling, and incentives to invest are decreasing with them.
We look at midstream and E&P growth plans that include investing in more production and distribution of NGLs and question where it will go. More Olefins?
In our hydrogen work, we look at how little investor support the sector has and at strategies for oil companies – all of which attract a hate group.

Last week, we discussed 29 Chemicals and Related Products and 137 Companies.

See PDF below for all charts, tables and diagrams