New From PetroChem Wire . . . .
PetroChem Wire and Genscape have partnered to create NGLs Week, a comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.
For more information,
Petchem stocks continue to fall as crude drops below $30: PCW index
HOUSTON, January 22, 2016 (PCW) -– Petrochemical companies’ stocks resumed their downward march this week as crude fell below $30/bbl and other economic indicators softened.
The midstream sector remained the biggest loser with its average stock price down $2.95, or 14.81%, to $16.96/share, led by Energy Transfer’s 14.79% decrease during the week. The Dallas-based company’s stock hit a six-year low early in the week as doubts mounted on its ability to close its acquisition of Tulsa-based Williams amid declining stock prices and as some analysts lowered Williams’ credit rating to effectively junk status.
The vinyls sector came in second as its average stock price fell $3.32, or 10.39%, to $28.63/share during the week. Axiall was in the lead again with its stock price hitting a fresh multi-year low during the week. The company’s share price finished the week down 11.51%.
The aromatics/refinery sector saw its average stock price shed $5.92, or 9.57%, to $55.90/share. Tesoro’s 11.66% weekly stock price loss took pole position as a handful of analysts downgraded its rating to ‘BBB-‘, indicating the company is a moderate default risk.
The olefins/polyolefins sector saw its average stock price slide $4.63, or 8.42%, to $50.39/share. Williams again was the group’s biggest loser with its stock price down 12.3%, as troubles continued to plague its looming deal with Energy Transfer. Over the weekend, a class action shareholder lawsuit was filed against Williams and Energy Transfer, alleging misrepresentations of shareholder benefits once the acquisition is completed. – Samantha Hartke
Midstream: Enterprise Products Partners, Energy Transfer Partners. Targa Resources, Markwest Energy Partners, Sunoco Logistics, Kinder Morgan, Boardwalk Pipeline Partners and Oneok.
Olefins/Polyolefins: Dow Chemical, Dupont, Eastman Chemical, Westlake Chemical, Williams, ExxonMobil, Shell, LyondellBasell, Axiall, Occidental Petroleum.
Aromatics/Refinery: ExxonMobil, Shell, Phillips 66, Tesoro, Valero, Alon USA Energy, Chevron, Marathon Petroleum and PBF Energy.
Vinyls: Westlake, Axiall, Occidental Petroleum, Olin, Ply Gem, Armstrong World Industries, PolyOne.