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Survival of the fittest: Petrochemical makers battle global glut

ANALYSIS-Survival of the fittest: Petrochemical makers battle global glut Asian petrochemical margins slide to losses in 2024 Europe, Asian plant consolidation underway Asian output cuts limited by refinery ties Adds the U.S. assets that LyondellBasell has sold in paragraph 27 By Mohi Narayan and Joyce Lee NEW DELHI/SEOUL, Aug 9 (Reuters) - Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depres
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Survival of the fittest: Petrochemical makers battle global glut

ANALYSIS-Survival of the fittest: Petrochemical makers battle global glut Asian petrochemical margins slide to losses in 2024 Europe, Asian plant consolidation underway Asian output cuts limited by refinery ties By Mohi Narayan and Joyce Lee NEW DELHI/SEOUL, Aug 9 (Reuters) - Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for two consecutive years, forcing firms to consolidat
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EU wheat rises on tight crop outlook amid strong international demand

EU wheat rises on tight crop outlook amid strong international demand PARIS, Aug 8 (Reuters) - European wheat rose on Thursday supported by tight supplies in rain-hit European regions and large purchasing tenders by major international buyers Algeria and Egypt, traders said. Benchmark September milling wheat BL2c1 on Paris-based Euronext was 0.7% higher by 1600 GMT to 216.75 euros ($236.50) a metric ton.
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Marathon to run refineries at 90% of combined capacity in Q3

UPDATE 1-Marathon to run refineries at 90% of combined capacity in Q3 Adds details HOUSTON, Aug 6 (Reuters) - Leading U.S. crude oil refiner Marathon Petroleum MPC.N plans to operate its 13 refineries at 90% of their combined 3 million-barrel -per-day (bpd) capacity in the third quarter, Chief Financial Officer John Quaid said during a Tuesday conference call.
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Marathon Petroleum CEO says no talks with Neste about a buyout

Marathon Petroleum CEO says no talks with Neste about a buyout HOUSTON, Aug 6 (Reuters) - Marathon Petroleum MPC.N Chief Executive Maryann Mannen said on Tuesday there was no truth to rumors the company was in talks about a buyout with Finnish refiner Neste Oyj. "I heard you mention that. That rumor is not factual and we are not having any conversations about a buyout with Neste," Mannen said during a Tuesday conference call.
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Marathon Petroleum's profit beats as volume boost offsets weak margins

UPDATE 4-Marathon Petroleum's profit beats as volume boost offsets weak margins Adds comments on operations, paragraphs 8-10; buyout rumors, paragraphs 16-17. By Seher Dareen Aug 6 (Reuters) - Marathon Petroleum MPC.N beat second-quarter profit estimates, as higher volume of crude processing and a strong midstream segment helped offset low refining margins, sending the shares of the top U.S.
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Neste Provides Sustainable Aviation Fuel To United Airlines

BRIEF-Neste Provides Sustainable Aviation Fuel To United Airlines July 31 (Reuters) - Neste Oyj NESTE.HE : NESTE PROVIDES SUSTAINABLE AVIATION FUEL TO UNITED AIRLINES FOR USE AT CHICAGO O'HARE INTERNATIONAL AIRPORT IN THE U.S. Further company coverage: NESTE.HE (Gdansk Newsroom)
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Middle East Crude-Dubai extends losses despite robust demand from PetroChina

Middle East Crude-Dubai extends losses despite robust demand from PetroChina SINGAPORE, July 26 (Reuters) - Middle East crude benchmark Dubai extended losses for a third session on Friday despite robust demand from PetroChina while Murban's premium slumped as most refiners have completed their purchases. IRANIAN CRUDE Imports of Iranian crude have been flowing into the port and refining city of Dalian since late last year, tanker tracking firms and trading sources said, helping sustain the count
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Greencore, UCB, Unilever

EUROPE RESEARCH ROUNDUP-Greencore, UCB, Unilever July 26 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Greencore, UCB, and Unilever, on Friday. HIGHLIGHTS * Greencore GNC.L : HSBC raises target price to 190p from 160p * Lonza Group AG LONN.S : JP Morgan raises target price to CHF 645 from CHF 600 * Sartorius Stedim Biotech STDM.PA : HSBC cuts target price to EUR 310 from EUR 360 * UCB SA UCB.BR : TD Cowen raises target price to E
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Med crude-Urals diffs unchanged, Russia's set to increase refinery runs in August

Med crude-Urals diffs unchanged, Russia's set to increase refinery runs in August MOSCOW, July 25 (Reuters) - Urals crude differentials were unchanged to dated Brent, while Russia's offline primary refining capacity is set to decline in August signalling higher refinery runs, Reuters calculations showed. Russia's offline primary oil refining capacity for the next month is seen declining from July by 33% to 1.7 million tons, according to Reuters calculations based on data from industry sources.
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Neste falls after FY sales margin outlook cut, Q2 profit miss

BUZZ-Neste falls after FY sales margin outlook cut, Q2 profit miss ** Shares in Neste NESTE.HE fall 2.5% after the Finnish biofuels maker missed Q2 profit estimates and cut its 2024 renewables margin guidance again, citing low biofuel prices ** It sees renewable products segment's sales margin at $480-$580 per ton in 2024, vs $480-$650 per ton prev
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Finland's Neste cuts margin target again as biofuel prices fall

UPDATE 2-Finland's Neste cuts margin target again as biofuel prices fall Adds detail on prices in paragraph 3, comment and background on renewables market from paragraph 6 July 25 (Reuters) - Finnish oil refiner and biofuel maker Neste NESTE.HE narrowed down its annual renewables margin guidance on Thursday, its second cut to the target this year, after low biofuel prices hit its quarterly results.
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Neste: Total Fixed Costs In 2024 Expected To Be Slightly Higher Than 2023

BRIEF-Neste: Total Fixed Costs In 2024 Expected To Be Slightly Higher Than 2023 July 25 (Reuters) - Neste Oyj NESTE.HE : UNCERTAINTY IN GLOBAL ECONOMIC OUTLOOK AND GEOPOLITICAL SITUATION CONTINUES TO CREATE MARKET VOLATILITY IN RENEWABLE PRODUCTS, BIOTICKET AND RENEWABLE CREDIT PRICES AND RENEWABLE DIESEL PRICE PREMIUMS ARE EXPECTED TO REMAIN AT A
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Finland's Neste cuts renewables margin target again

Finland's Neste cuts renewables margin target again July 25 (Reuters) - Finnish oil refiner and biofuel maker Neste NESTE.HE narrowed down its annual guidance for renewable fuels sales margin on Thursday, its second cut to the target this year amid soft demand. Reporting by Boleslaw Lasocki in Gdansk; editing by Milla Nissi
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Neste Commissions Terminal Capacity In Houston, Texas

BRIEF-Neste Commissions Terminal Capacity In Houston, Texas July 25 (Reuters) - Neste Oyj NESTE.HE : SAID ON WEDNESDAY COMMISSIONED TERMINAL CAPACITY AT ONEOK'S TERMINAL IN HOUSTON, TEXAS NEW CAPACITY EXPANDS AVAILABILITY OF NESTE'S SUSTAINABLE AVIATION FUEL AT AIRPORTS IN CENTRAL AND EASTERN U.S. NEW CAPACITY AT ONEOK'S TERMINAL IN HOUSTON PROVIDE
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Eni biofuels deal is rich bet on governments

CORRECTED-BREAKINGVIEWS-KKR-Eni biofuels deal is rich bet on governments Corrects first paragraph to reflect that 11.5 billion euros to 12.5 billion euros is the valuation for Enilive as a whole. The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By George Hay LONDON, July 23 (Reuters Breakingviews) - KKR’s KKR.N rich bet on biofuels is also rather a contrarian one.
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Nordic corporate earnings week ahead

DIARY-Nordic corporate earnings week ahead July 19 (Reuters) - Diary of Nordic (OMXS30-SK, OBX-OS, OMXHPI-HE, OMXC20) corporate earnings for the week ahead NORDIC EARNINGS Start Date Start Time (GMT) RIC Company Name Event Name 23-Jul-2024 05:00 NHY.OL Norsk Hydro ASA Q2 2024 Norsk Hydro ASA Earnings Release 23-Jul-2024 05:00 VAR.OL Var Energi ASA Q2 2024 Var Energi ASA Earnings Release 24-Jul-2024 NTS EQNR.OL Equinor ASA Q2 2024 Equinor ASA Earnings Release 25-Jul-2024 NTS SUBC.OL Subsea 7 SA Q
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Asia Distillates-Activity stays brisk, market remains in discount

Asia Distillates-Activity stays brisk, market remains in discount SINGAPORE, July 17 (Reuters) - Asia's middle distillates markets continued to see a flurry of deals in the open window, but discount levels remained in almost similar levels from the previous session against a backdrop of ample supply. Traders were still cautious-to-bearish on the overall market fundamentals, given the weakness in buying interest for August spot cargoes - as evidenced from deals being done at discount levels.
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Neste and Mitsubishi Sign Strategic Coopertation

BRIEF-Neste and Mitsubishi Sign Strategic Coopertation July 16 (Reuters) - Neste Oyj NESTE.HE : NESTE EAND MITSUBISHI CORPORATION SIGN STRATEGIC COOPERTATION ON DEVELOPMENT OF RENEWABLE CHEMICALS Further company coverage: NESTE.HE (Gdansk Newsroom)
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Biofuels maker Neste's rating cut by RBC on weak renewable diesel market

BUZZ-Biofuels maker Neste's rating cut by RBC on weak renewable diesel market ** RBC downgrades Finnish biofuels maker Neste's NESTE.HE shares to "sector perform" from "outperform" ** Brokerage warns of increasing competition and uncertainty around potential of sustainable aviation fuel (SAF) ** Neste's operating environment has worsened as a much
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