Source: China Chemical Industry News Time: 2020-01-06
1. Foreign companies such as BASF and Saudi Aramco accelerate their investment in China
In 2019, many large multinational companies continue to invest heavily in Huada. On January 10, BASF and Guangdong Province signed a framework agreement to promote the Zhanjiang project. On November 23, BASF's new integrated production base project was officially launched in Zhanjiang, Guangdong. On February 22, during the Saudi crown prince's visit to China, Saudi Aramco signed investment agreements with many Chinese companies in the petrochemical industry. In the unfavorable economic situation in 2019, China is still a good place for multinational enterprises to invest and develop their businesses.
2. The problem of plastic pollution continues to ferment, the industry ends the establishment of the Plastic Pollution Alliance
On January 16, about 30 companies in the chemical, plastics, and consumer products industries, including BASF, Dow, and Covestro, also announced the joint establishment of an alliance to end plastic pollution in order to solve the problem of plastic waste pollution. The alliance aims to minimize the impact of plastic waste on the natural environment such as the ocean and promote various post-consumer plastic solutions.
3. Dow DuPont completes spin-off
On April 1, Dow DuPont completed the separation of New Dow and New DuPont as planned. In June, Dow DuPont completed the spin-off of Codion Agricultural Technology. After the spin-off, the shares of the two companies began trading on June 3. Codiva, DuPont and Dow, after the spin-off, were engaged in agriculture, specialty products and chemical materials, respectively.
4. Japan-Korea trade friction, chemicals become weapons
On July 1, the Japanese government announced that it would strengthen the control of three kinds of raw materials for the semiconductor industry exported to South Korea, setting off waves of trade friction between Japan and South Korea. Subsequently, Japan and South Korea downgraded each other’s trade priorities and caused a change in the supply-sales pattern of semiconductor high-end chemicals in East Asia.
5. The global economy is cold and the collective financial reports of chemical companies are weak
Due to various factors such as continuous global trade friction, decelerating economic growth in developing countries, the sluggish automobile industry, and the commissioning of new production capacity, the profits of multinational companies have generally been compressed. Especially in the second quarter financial report released in July and August, the performance of companies such as BASF, Covestro, Dow, and DuPont generally shrank, and the expectation of full-year profits continued to be lowered.
6. The attack on Saudi Aramco facilities shakes the international crude oil market
On September 14, two oil facilities at Saudi Aramco's Burge refinery and Hurais oilfield were attacked by drones, causing a fire that caused a short-term interruption of 5.7 million barrels per day of crude oil production, accounting for half of Saudi Arabia's national output . The Yemeni Houthi armed forces subsequently declared responsibility. The next day, the United States and Israel pointed their finger at Iran, further aggravating geographical tensions and causing international oil prices to soar by 17% in the short term.
7. The United States has become a net oil exporter for the first time in 70 years
On November 29th, the US Energy Information Administration released data confirming that the United States exported more crude oil and petroleum products than its imports in September this year, and became the monthly net oil exporter for the first time in 70 years. Over the past decade, the rise of shale oil in the United States and the doubling of oil output have led to a sharp increase in U.S. oil production and exports.
8. Saudi Aramco is officially listed, the largest company in history is released
On December 11, Saudi Aramco officially started trading on the Saudi domestic exchange. After a year of public offering, Saudi Aramco was officially listed. Subsequently, Saudi Aramco's stock price continued to rise for two consecutive days, and its market value exceeded US$ 2 trillion, making it the world's most valuable company.
9. China and the United States reached agreement on the text of the first phase of the economic and trade agreement
On December 13, China announced that through the joint efforts of the Sino-US economic and trade teams, the two sides have reached agreement on the text of the first phase of the Sino-US economic and trade agreement based on the principles of equality and mutual respect. Such an agreement between China and the United States will benefit both China and the United States and the world, and will have a positive effect on the international chemical market.
10. Russia-Europe natural gas project was sanctioned by the United States, the United States, Russia and Europe \"gas dispute\" heated up
On December 20, US President Trump officially signed the 2020 National Defense Budget Act, which stipulates sanctions on the Beixi 2 and Turkey natural gas pipeline projects for Russian gas transmission to Europe, and requires the company responsible for pipeline laying to stop the construction of the project immediately . Subsequently, the Beixi 2 project under construction was shut down, and the Russian and German governments also raised solemn protests against the United States.
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