COVID-19 Postpones Commercial Real Estate Auction in Northeastern Ohio. Will We See Pre COVID-19 Property Sales Valuations? CANTON, OHIO, USA, May 4, 2020 /EINPresswire.com/ — Conducting business for most U.S. companies came to an abrupt stop in mid-March, as governments ordered closed “non-essential” businesses to help stop the spread of the coronavirus. While many companies
Read More...The downturn of the North American automotive and auto parts industries due to the Covid-19 pandemic that shut down dealerships has dried demand for over a dozen chemical intermediate products. × Chemicals that go into auto parts and vehicle assembly lines have seen lost sales that may rebound at some still uncertain point but at
Read More...News Briefs × Covid-19 fuel demand destruction pits refiners against ethanol producers The American Fuel and Petrochemical Manufacturers trade association (AFPM) said on April 16, 2020 it supports a request by Louisiana, Oklahoma, Texas, Utah and Wyoming to the Environmental Protection Agency (EPA) to loosen renewable fuel obligations during the Covid-19 pandemic. AFPM said it
Read More...Following their acquisition by Thomson Reuters in October 2019, Petrochemical Update, the team behind the world’s leading downstream event, are making their incredible insights and analysis collections available for free in a new industry intelligence hub × The acquisition combines Reuters’ globally trusted news brand, scale and editorial excellence with Petrochemical Update’s deep expertise in
Read More...News Briefs × Chemical rail shipments see in March highest volume in two years Chemical rail shipments saw in March their highest volume since 2018 while the total for all categories saw a virus-related decline, the Association of American Railroads (AAR) said on April 1, 2020. “March was the best month for rail chemical carloads
Read More...Demand for these intermediate chemicals is pulled by companies that produce finished products, which in turn face such a high number of orders that distributors were told they would remain unattended due to the urgent need to directly supply the healthcare and government response. × Prices for chemicals that are used to make medical supplies
Read More...Petrochemical plants have set up emergency response teams and readied special Covid-19 staffing plans while implementing remote working where possible, according to the American Fuel and Petrochemical Manufacturers (AFPM) association. × Petrochemical companies are readying business continuity plans as they begin to face logistic and workforce challenges related to the rapidly spreading coronavirus outbreak. Companies
Read More...The White House is strongly considering pushing federal assistance for oil and natural gas producers hit by plummeting oil prices amid the coronavirus outbreak, as industry officials close to the administration clamor for help, according to four people familiar with internal deliberations. President Trump has touted the growth of oil and natural gas production under his
Read More...The 2019 Annual Energy Outlook (AEO2019) Reference case shows continued growth of natural gas production in the Mid-Atlantic and Ohio region from the Marcellus and Utica formations, resulting in increases of natural gas being transported to the Eastern Midwest and, ultimately, into the South Central region, which includes the Gulf Coast and Texas. While the South Central
Read More...Ohio is a commercial real estate powerhouse, according to a new report published by the NAIOP Research Foundation. The state is No. 7 nationwide for contributions to state GDP created by commercial real estate development, creating and supporting 146,787 related jobs and contributing $20.1 billion to Ohio’s economy in 2019, the report finds.
Read More...Braskem weighs its options after its ethylene and polyethylene Mexican subsidiary Braskem-Idesa didn’t receive agreed ethane volumes nor compensation from Pemex. Mexico replied it is investigating the contract. × Pemex had not yet issued a credit note for $26 million over “liquidated damages for delivering ethane in lower volumes than agreed” to Braskem-Idesa, Braskem said
Read More...Supporters of a new petrochemical hub in the Northeast appear just as determined as those opposing it due to environmental concerns. × The potential for the development of a petrochemical industry in the Northeast of the United States has brought along tax credits and other incentives but also staunch environmental opposition. Ohio, Pennyslvania and West
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By George Nelson | March 9, 2020 MONACA, Pa. – The enormous Royal Dutch Shell petrochemical complex taking shape along the Ohio River in Monaca, Pa., is quite a sight. Sprawled across the 386-acre site in Beaver County are multiple buildings from one-level units to structures several stories high – and construction cranes that reach into the sky.
Read More...Ohio’s natural gas producers are having their annual meeting in Columbus this week amid concerns about what low natural gas prices mean for their business. Industry experts say it is time for more attention on profit than on production. For the past few years, Ohio’s natural gas producers have been more focused on boosting production
Read More...The U.S. is awash in cheap shale oil and gas. After decades of declining U.S. oil output, the fracking revolution unlocked vast oil and gas deposits and made America the world’s No. 1 oil producer. The once-massive U.S. petroleum deficit — $436 billion in 2008 — turned into a surplus last September. “We do not
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