12062019Fri
Last updateThu, 05 Dec 2019 8pm

U.S. Specialty Chemical Markets Ease to Close Out Third Quarter

The American Chemistry Council (ACC) reported that U.S. specialty chemicals market volumes ended the third quarter on soft note, falling 0.1% in September after rising 0.2% in August. Of the 28 specialty chemical segments that ACC monitors, 11 expanded in September, off from 18 in August. Fourteen markets declined in September and three were flat. In September, large market volume gains (1.0% and over) occurred only in foundry chemicals.

Performance chemistry reflects trends in manufacturing. In the first quarter, specialty chemical market volumes fell and the second quarter was flat. For the third quarter as a whole, volumes fell and were off from fourth quarter 2018 levels.


American Natural Gas & Oil Development Continues Growth

The Department of the Interior’s Office of Natural Resources Revenue (ONRR) reported that revenues generated from energy development on federal lands increased by $2.76 billion dollars over fiscal year 2018, totaling $11.69 billion.

According to the ONRR, in FY2019 over $2.44 billion was distributed among 35 states where energy production on offshore and onshore federal leases takes place. ONRR has shared more than $314.7 billion in mineral leasing revenues over the past four decades, and revenues collected last year increased by 31% over the prior year.

U.S. Net Natural Gas Exports Increasing Exponentially

From January through June of 2019, U.S. net natural gas exports averaged 4.1 billion cubic feet per day (cf/d), more than double the average net exports in 2018 (2.0 billion cf/d), according to data in the U.S. Energy Information Administration’s (EIA) Natural Gas Monthly. The U.S. became a net natural gas exporter on an annual basis in 2017 for the first time in almost 60 years.

The U.S. exports natural gas by pipeline to neighboring Canada and Mexico and exports liquefied natural gas (LNG) to several other countries. Much of the recent increase in total exports is a result of more LNG facilities coming online. Total U.S. exports of LNG through the first half of 2019 were 37% higher compared with the same period in 2018. Total U.S. LNG export capacity as of June 2019 was 5.4 billion cf/d across four facilities and nine liquefaction trains.

Enterprise Adding Two New Pipelines in Permian Basin

Newly announced Midland-to-ECHO 3 and 4 Permian crude pipeline system expansions from Enterprise Products Partners LP “will add about 450,000 barrels per day (bpd) each of additional capacity,” Reuters reports.

“The addition of new pipelines this year has helped alleviate a bottleneck in the Permian, the biggest oil basin in the country, where prices slumped to the lowest levels in about four years in 2018.”

U.S. Chemical Production Rises in All Regions

According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.3% in September following declines of 0.2% in August and 0.7% in July. During September, chemical output was up across all regions, with the largest gain in the Gulf Coast region.

Chemical production was mixed over the three-month period. There were gains in the production three-month moving average output trend in plastic resins, chlor-alkali, pesticides, industrial gases, organic chemicals, consumer products, synthetic dyes and pigments, adhesives and coatings. These gains were offset by declines in the output of synthetic rubber, miscellaneous inorganic chemicals, fertilizers, manufactured fibers and other specialty chemicals.

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