Mistura de octanas
Visão geral
A demanda por componentes de alta octana varia ao longo do ano, dependendo da sazonalidade, da quota de mercado de gasolina premium e do desempenho da refinaria. Normas de gasolina mais rigorosas também contribuem para a demanda por componentes de alta octanas.
Entre a lista de componentes de alta octanas estão reformado, alquilato, MTBE, ETBE, tolueno, xilenos, etilbenzeno e outros. Alguns desses componentes veem principalmente demanda do mercado químico, mas podem ser desviados para o tanque de gasolina se houver retornos nesse segmento.
Cada mistura tem classificação de octanas específica e teor de rvp que determina seu valor na piscina de gasolina. Os misturadores de gasolina analisarão os preços de mercado para cada uma das octanas e verão como isso se relaciona com o valor na piscina de gasolina. No verão de 2023, altos volumes de etilbenzeno foram desviados para a gasolina em vez da produção de estireno, pois os preços do estireno caíram abaixo do valor da mistura de etilbenzeno.
MTBE é um componente de alta octanas para mistura de gasolina, mas é usado apenas em alguns países. A demanda de MTBE foi impulsionada pelo crescimento na Ásia, Oriente Médio e Mercados Latinos. Outras regiões focaram no aumento do uso de biocombustível, o que inclui etanol e ETBE.
Os especialistas da Argus irão ajudá-lo a determinar quais tendências acompanhar e como permanecer competitivo nos mercados globais em constante mudança de hoje.
Últimas notícias sobre misturas de octanas
Navegue pelas últimas notícias do mercado sobre a indústria global de mistura de octanas.
Borealis not reviewing assets in Europe: CEO
Borealis not reviewing assets in Europe: CEO
London, 12 June (Argus) — Austria-based petrochemicals producer Borealis is not conducting any asset reviews in Europe despite prolonged weakness in the region's polyethylene (PE) and polypropylene (PP) markets, chief executive Stefan Doboczky told Argus . "It's not that we would never look into something," Doboczky said. But "none of our major installations [in Europe] I would say are being a real problem, they are all contributing [to profitability]." Doboczky acknowledged that "Europe will never be the cost leader". But "there are strong differences between the economics of crackers and the polyolefin systems", he said. "If you look at our more coastal setups, we are much more flexible than certain steam crackers would be inland." Borealis' coastal steam crackers in Porvoo, Finland, and in Stenungsund, Sweden, have greater flexibility to run lighter feedstocks and optimise product yields. Their location also allows for easier feedstock procurement via vessel, Doboczky said. Borealis will continue to bring polyolefins into Europe from its sister plants in the Middle East and North America, which have advantageous positions on feedstock and production costs. Doboczky's comments follow Netherlands-based LyondellBasell's announcement last week that it plans to divest four European olefins and polyolefins plants to focus on "economically sustainable sites". The European petrochemicals sector has faced mounting pressure from weak demand and high costs, prompting several producers to review or close assets. Saudi Arabia's Sabic is also understood to be assessing its European footprint, although details remain limited. Borealis, by contrast, is pursuing a differentiation strategy focused on downstream expansion. Last week, it announced a €100mn ($114mn) investment to triple PP foam production capacity at its Burghausen site in Germany. The firm has 650,000 t/yr of PP production capacity at that site. "We are very much focused on investing in smaller units, in the €50mn-100mn space to gain a strong share in a particular niche," Doboczky said. This is in addition to around €2bn of overall capital expenditure already committed in Europe for new projects. "Borealis has no alternative to this [polyolefins] business," Doboczky said, adding that the company will continue to focus on specialty, high-end applications rather than volume-driven segments. It also has a notable presence in the downstream compounding sector, which uses part of its PE and PP resin output. Demand outlook Borealis expects 2025 demand to be broadly in line with 2023-24 levels, although it could vary by grade and segment. "We see too much volatility at the moment and I think we need to see how the world looks like after 9 July," Doboczky said, referring to the 90-day tariff pause on US imports. "The general sentiment that PP is even more difficult, I would subscribe to that." PP demand has been hit harder than PE, given its exposure to big-ticket consumer goods and the automotive segment, both of which have been affected by cost-of-living pressures. Construction demand is also under pressure due to economic headwinds and high financing costs. For the time being, Borealis continues to see offtake from the automotive segment within its expected range, owing to a larger share of electric vehicle production, which uses a higher proportion of PP to offset battery weight. The company is also targeting growth in rigid and flexible packaging through increased innovation. Project updates Earlier this year, OMV and Adnoc agreed to merge Borealis and Borouge into a new entity, Borouge Group International, which will be headquartered in Vienna and listed on the Abu Dhabi Securities Exchange. The move coincided with the acquisition of Canada-based Nova Chemicals by the new entity. Borealis is constructing a 750,000 t/yr propane dehydrogenation (PDH) plant in Kallo, Belgium, which is scheduled to come online in the second quarter of 2026. The Borouge 4 project in Abu Dhabi is on track to start up ethylene and PE production in late 2025 or early 2026, Doboczky said. By Sam Hashmi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Ethane rejection concerns heighten on export block
Ethane rejection concerns heighten on export block
Houston, 6 June (Argus) — US traders and gas producers are mulling over the implications of higher rates of US ethane rejection as the indefinite curtailment of US ethane cargoes to China spurs fears of a supply glut of the feedstock. Exporters Enterprise Products and Energy Transfer , the only waterborne exporters of US ethane, announced on 29 May and 4 June, respectively, that the US Commerce Department's Bureau of Industry and Security (BIS) had ordered them to apply for licenses to export ethane to China. On 4 June, Enterprise reported that emergency license applications for three of its cargoes, totaling 2.2mn bl, had been denied . "News that the [BIS] doesn't intend to issue ethane export permits suggests an increasingly dire situation," said one market participant. US ethane inventories stood at 63.9mn bl in March, the latest data available from the US Energy Information Administration (EIA), up 9.8pc versus last year, when supplies totaled 58.2mn bl. The US produced 2.83mn b/d of ethane from natural gas processing in 2024, according to annual data from the EIA, resulting in a surplus of 500,000 b/d over its domestic petrochemical consumption. Nearly all of this excess is exported, and about 46pc of shipments last year, or 227,000 b/d, went to China. Large-scale exports of the feedstock, which is used in ethylene production at steam crackers, are relatively new. Waterborne exports of ethane began in 2016, and until that time, excess supply that wasn't profitable to fractionate and pipe to storage caverns at Mont Belvieu, Texas, were rejected upstream at processing plants into the natural gas stream. Midstream operators estimated that US ethane rejection clocked in around 500,000 b/d in 2015, when the US produced a little more than a third of the ethane it does today at 1.13mn b/d and consumed only 1.07mn b/d domestically. Some analysts fear higher rates of US ethane rejection going forward could depress natural gas prices. "The recently announced ethane export restrictions to China have raised some concerns over a potential oversupplied domestic market, which could lead to more ethane rejection and create near-term price pressures," on natural gas, RBC Capital Markets analyst Scott Hanold said in a note to investors. An uptick in ethane left in the gas stream also pushes gas operators to potentially contend with a higher calorific content. Natural gas producers have been investing in additional pipeline capacity to accommodate growing demand for LNG exports, however, and the infrastructure is more flexible now than it was back in 2016. "The US exports approximately 250,000 b/d of ethane to China, and that's about 0.4bn cf/d of ethane that would need to be rejected into the US natural gas system," according to Craig Barry, Argus ' lead ethylene consultant. "That should be manageable for US producers, especially as new natural gas egress pipelines come online in the second half of 2025 and into 2026." Short-term pricing From 28 May to 5 June, prompt-month Mont Belvieu, Texas, EPC ethane fell by 19.4pc to 19.25¢/USG, its lowest point since 13 November. Ethane's differential to its fuel value relative to Nymex natural gas at the Henry Hub turned negative on 29 May and remained negative thereafter, troughing at -5¢/USG on 4 June, the steepest discount since 15 December 2022. A flip to rejection by gas producers is typically indicated when ethane enters negative territory relative to its fuel value in spot natural gas in the Permian. Ethane's premium to spot gas prices at the Waha hub in west Texas declined from 12.37¢/USG to 9.4¢/USG across the period, and if Waha prices remain steady, ethane prices would need to halve to enter rejection territory in the Permian. Major operators may also be incentivized, however, to reject ethane into the gas stream at greater rates if prices fall below spot gas on the US Gulf coast, according to market participants, and would need to dip below a milder 17.375¢/USG to turn negative relative to its fuel value in Houston Ship Channel gas, which it sits at its tightest premium to since 4 March at 1.88¢/USG. Steep declines in prompt-month ethane pricing have widened the contango seen along the forward curve, possibly reflecting stronger sentiment once the US trade dispute with China is resolved. The prompt-forward month carry widened to 1.625¢/USG yesterday. June EPC ethane traded at a stronger 21.25-22.5¢/USG Friday morning, and sits at a 2.8¢/USG discount to its fuel value relative to Nymex gas, based on intraday values. By Joseph Barbour Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
LyondellBasell agrees sale of select assets: Correction
LyondellBasell agrees sale of select assets: Correction
Changes financial figures in third paragraph to € from $ London, 5 June (Argus) — LyondellBasell said it is in exclusive negotiations with Munich-based industrial investment firm Aequita, regarding the sale of four olefin and polyolefin assets in Europe. The deal includes its integrated cracker and polyolefin assets in Berre, France and Muenchmuenster, Germany, and stand-alone polypropylene (PP) sites in Carrington, UK and Tarragona, Spain. The deal is contingent on consultations with local works councils and is expected to close in the first half of 2026. The sites were part of six put under strategic review in May 2024. LyondellBasell's Brindisi PP asset is not part of the deal and its future remains under review. Lyondell Basell confirmed the closure of its Maasvlakte propylene oxide-styrene monomer plant — the final site included in its initial review — in March. The companies said that the package of assets "represent a scaled olefins and polyolefins platform strategically located in proximity to a longstanding customer base and with access and connectivity to key infrastructure". LyondellBasell will contribute €265mn ($303mn) of €275mn total cash funding to support the separated business, but said that the sale would reduce its annual capex by around €110mn, reduce fixed costs by €400mn, and reduce the scope for decarbonisation investments. Decarbonisation of the Berre and Muenchmuenster sites by 42pc of 2020 levels by 2030, as previously committed to by LyondellBasell, would cost hundreds of millions of euros, or more on a faster timescale. Sale of the assets was preferential to closing them, which would incur environmental liabilities, now assumed by Aequita, LyondellBasell said. Aequita is a private equity group focussed on companies in special situations and group carve outs. It has no other chemicals businesses, but other investments include industrial and automotive parts suppliers. Managing partner Christoph Himmel said "Each site brings a strong operational foundation and a highly experienced, committed employee base. We are confident in our ability to accelerate their development". LyondellBasell indicated that it remains committed to Europe, and said the sale will concentrate its European footprint on "economically sustainable sites". Its remaining European assets are centred around two crackers and downstream units in Wesseling, Germany, PP assets in Italy and propylene oxide capacity in France and the Netherlands. Tarragona and Carrington have capacities of 390,000 t/yr and 210,000 t/yr of PP, respectively. Muenchmuenster has capacity of 400,000 t/yr of ethylene, 265,000 t/yr of propylene, 67,000 t/yr of crude C4s and downstream production of 320,000 t/yr of high-density polyethylene (HDPE). Berre has capacity to produce 465,000 t/yr of ethylene, 270,000 t/yr of propylene and 155,000 t/yr of crude C4s. The site at Berre also has downstream capacity for 320,000 t/yr of low-density polyethylene (LDPE), 350,000 t/yr of PP and 80,000 t/yr of butadiene extraction. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Phillips 66 shareholders split board vote
Phillips 66 shareholders split board vote
Houston, 21 May (Argus) — Activist hedge fund Elliott Investment Management is set to win two seats on Phillips 66's board of directors, short of its goal of four seats, according to preliminary results. Two Phillips 66 nominees were also elected in the vote, a positive result for the US refiner and midstream operator. Elliott, which has amassed a $2.5bn stake in Phillips 66, had put forth four nominees for the board in a proxy fight which culminated today at an annual meeting of shareholders. Both sides declared victory after the split vote on the four open seats. Phillips 66 said the vote reflects a belief in its integrated strategy of holding assets in different sectors, while Elliott said the vote "sends a clear message" that shareholders demand meaningful change at Phillips 66. The two Elliott nominees elected to the 14-member Phillips 66 board are Sigmund Cornelius, former chief financial officer of ConocoPhillips and Michael Heim, former chief operating officer of Targa Resources, according to preliminary voting results. The two Phillips 66 nominees elected to the board are Nigel Hearne, a 35-year veteran of Chevron, and Robert Pease, a former Motiva and Cenovus downstream executive who was appointed to the board in 2024 to address Elliott's concerns about a shift in focus from refining to midstream. Phillips 66 also said today that shareholders "overwhelmingly" rejected an Elliott proposal requiring annual director resignations, according to the preliminary results. The voting tally will be tabulated and certified by an independent inspector and final results will be reported to the US Securities and Exchange Commission. The two Elliott nominees for the Phillips 66 board who were not elected are Brian Coffman, former chief executive at Motiva, and Stacy Nieuwoudt, former energy analyst at Citadel. The two Phillips 66 nominees to the board that were not elected are current director John Lowe, who was up for re-election, and Howard Ungerleider, a former Dow president and chief financial officer. Long-running battle over direction Elliott contends that Phillips 66 has consistently trailed its industry peers and needs to streamline operations, including spinning off or selling its midstream business, selling its 50pc stake in Chevron Phillips Chemical (CPChem), and possibly other assets. Elliott has waged an aggressive campaign, launching a website dubbed "Streamline 66" with power point presentations, podcasts, biographies of its dissident board nominees, press releases and information on how shareholders can vote. Phillips 66 has told shareholders that its board and management team are implementing a transformative strategy that has delivered results. The company has expanded its NGL business, improved its refining cost structure and continues to position CPChem as the lowest cost producer of ethylene, Phillips 66 said. Phillips 66 told shareholders that Elliott was pushing "an aggressive short-term agenda" that would cause disruption, slow momentum and jeopardize shareholders' investment capital. Phillips 66 has made some adjustments since Elliot started to agitate for change. In addition to adding Pease to the board, the company recently agreed to sell off some of its European retail business , and expects about $1.6bn in pre-tax cash proceeds from the sale that it will use toward debt reduction and shareholder returns. But the refiner has resisted the other major Elliott recommendations to divest its midstream business and sell its 50pc share of CPChem, saying earlier this month that the Phillips board has evaluated them and "came to the conclusion that neither action is in the best interest of long-term shareholders at this time". Meanwhile, Chevron has advised Phillips 66 of its interest in acquiring the other half of CPChem "at a reasonable value for both parties", Chevron chief executive Mike Wirth said on 2 May. Three top shareholder advisory firms [backed the Elliott nominees] (https://direct.argusmedia.com/newsandanalysis/article/2687988) in the proxy fight. Institutional Shareholder Services (ISS) and Egan-Jones recommending all four of Elliot's dissident nominees, while Glass Lewis backed three of the four. By Eunice Bridges Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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