New From PetroChem Wire . . . .
NGLs Week is PetroChem Wire's 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,
Second-quarter earnings come amid rising stock prices, major company moves
HOUSTON, July 26, 2016 (PCW) -- The arrival of the second-quarter earnings season should reflect a period that saw a recovery in oil prices and economic indexes. Not all sectors, however, saw their stock prices reflect this bump (see table).
The midstream sector, which tends to most closely follow crude’s track, saw its average stock price increase $7.51/share, or 31.08% during 2Q, stronger than WTI crude’s 29.7% gain during the same time period. NGL prices rose during this period on the back of higher petrochemical and export demand. Interestingly, the aromatics/refinery sector’s average stock price during the quarter dipped about 0.9%, mainly on the back of faltering gasoline cracks as production continued to outpace even robust demand (see graph).
The earnings calls during the next few weeks should also provide further details on some significant announcements made during 2Q. These include:
Energy Transfer’s termination of its buyout of Williams in late May
Shell’s final investment decision to build a cracker and PE units in Pennsylvania
Westlake Chemical’s acquisition of Axiall in early June
Axiall and Lotte Chemical breaking ground on their JV cracker in Lake Charles
Dow and DuPont shareholders approving the companies’ merger this week
Click here to see a full schedule of midstream and petrochemical companies’ scheduled 2Q earnings calls. We will also be following and updating our customers of the most significant news coming from these earnings releases and conference calls as and when they happen. If you are interested in receiving these critical updates, sign up for PetroChem Wire's SMS/Text service by clicking here.