The recently-published Cefic 2020 facts and figures show that petrochemicals account for over one quarter (25.4%) of EU chemical sales in 2018 and is the largest investor in the EU chemical sector, followed by plastics and “auxiliary for industry” with €6.5 billion.
Cefic, to which Petrochemicals Europe belongs, signed the “Masterplan for a Competitive Transformation of EU Energy-intensive Industries Enabling (EIIs) a Climate-neutral, Circular Economy by 2050” calling for the inclusion of a strong and ambitious industrial policy in the European Green Deal.
On 26 November, Industry4Europe, a coalition of 149 sector associations representing the diversity of the EU’s industrial base, including the chemical industry published its new Joint Paper ‘A long-term strategy for Europe’s industrial future: from words to action’. Through cross-sectoral recommendations, the Industry4Europe coalition contributes to the future EU industrial strategy announced by European Commission President-Elect Ursula von der Leyen.
The ESIG Solvents Award ceremony took place in Brussels on 6 November during the General Assemblies of the Oxygenated Solvents Producers Association (OSPA) and the Hydrocarbon Solvents Producers Association (HSPA). After the award ceremony, ESIG interviewed Gesche Weger, Packwise CEO who explains how the start-up was created and what the technology can bring to the chemical industry in terms of digitalisation and sustainability.
On 20 September, the European Chemical Industry Council (Cefic) to which Petrochemicals Europe belongs signed the Declaration of the Circular Plastics Alliance. The Alliance is the EU-wide voluntary movement to increase recycling and the uptake of recycled plastics in the EU by 2025.
A new guidance document is available for industrial users of 1-methyl-2-pyrrolidone (NMP), one of Petrochemicals Europe’s products, to help them comply with the substance’s restriction requirements and protect workers’ health and the environment. Available NOW in 23 languages!
The European Solvents Industry Group, ESIG, a sector group of Petrochemicals Europe (Cefic), has awarded the Solvents Award 2019 to Packwise GmbH for its “smart IBC industrial containers”. Its project showcases innovation in the field of digitalisation.
EFOA, part of Petrochemicals Europe, unveiled yesterday its new identity: "Sustainable Fuels: Driving Cleaner Mobility with Fuel Ethers". This new identity reflects its values and the contribution fuel ethers make to reducing transport emissions across Europe.
Cefic to which Petrochemicals Europe belongs has launched a voluntary multi-annual Action Plan for Review and Improvement of REACH Dossiers. The Action Plan provides a framework for companies – holders of REACH registrations – to evaluate their safety data already submitted under REACH.
Cefic belongs has just launched its Vision of the Future of Europe and the chemical industry in 2050. This report is an initiative of the EU chemical industry to describe a plausible path toward a prosperous, more sustainable Europe in the year 2050.
The European Solvents Industry Group, a sector group of Cefic (Petrochemicals Europe), has announced the selection of five finalists for the Solvents Award 2019. The candidates showcase innovations of solvents’ downstream users in the fields of sustainability and digitalisation.
The Aromatics Producers Association (APA) will organise on 11 September 2019 a symposium entitled “Preventing benzene's adverse health effects: considerations in occupational exposure limit development” bringing together relevant stakeholders from academia, regulatory authorities and industry to analyse available human data and help define a safe exposure level for the substance.
The European Solvents Industry Group (ESIG) published an article in the European Coatings Journal, June 2019 edition explaining how it helps solvent manufactures and downstream users comply with REACH requirements.
Silvio Ghyoot joins Cefic as new Executive Director of Petrochemicals Europe, an industry sector of Cefic. Meanwhile, Rob Ingram, CEO, INEOS Olefins & Polymers Europe North has been appointed as new Chairman of the Petrochemicals Europe Board, succeeding Pieter Platteeuw from The Dow Chemical Company.
Following on from the publication of The BUND Report on REACH dossier quality, Cefic to which Petrochemicals Europe belongs reiterated its commitment to make REACH work. REACH is the largest environmental regulation produced by the European Union, and companies are continuing to work hard on its implementation.
In the context of Petrochemicals Europe’s “young ambassadors” campaign, chemical companies from all over Europe interviewed young workers representing the diversity of the industry in terms of gender, nationality, educational background and job profile. Listen to young employees working for the European chemical industry who explain why the industry is a frontrunner in innovation and a key enabler for sustainability!
The Board of the Association of the German Chemical Industry (VCI) has just appointed Dr. Wolfgang Große Entrup as new Director General. As of 1 October 2019, he will replace Utz Tillmann who has held the position since 2008 and will retire.
We are proud to announce that Petrochemicals Europe won the European Association Awards 2019 in the category of the best association website. We would like to thank the jury for giving us recognition for the revamp of our website. It is the result of several months of hard work and excellent cooperation within our team.
The International Council of Chemical Associations (ICCA) published a report entitled "The Global Chemical Industry: Catalyzing Growth and Addressing Our World’s Sustainability Challenges", which shows that the industry contributes an estimated $5.7 trillion to global GDP and supports 120 million jobs worldwide.
Our well respected and talented Cefic colleague, Vincent Navez, passed away on 28 March. Our thoughts are with his family and all that are dear to him.
In a statement signed by 15 European associations including the European Chemical Industry Council (Cefic) and the UK Chemical Industries Association (CIA), European businesses are calling to avoid a "no deal Brexit" that could result in major disruption of supply chains across all industries and threaten jobs.
February chemical trends report confirms a slight fall in EU chemicals output in the second half of last year. Down by about 1% on 2017, production was affected by a slowdown in the global economy.
Cefic, the organisation to which Petrochemicals Europe belongs, published a statement indicating that EU chemical industry is committed to making REACH work. It acknowledges that data gaps need to be tackled more swiftly and efficiently.
Petrochemicals Europe has just launched the young ambassadors’ digital campaign in order to bridge the skill gap, attract more young people into STEM and the (petro-)chemical industry and put a human face on the industry. It is also a way to showcase the industry’s diversity and highlight the contribution it makes to a sustainable society.
In a joint statement the Director General of the European Chemical Industry Council (Cefic), Marco Mensink and the Chief Executive of the Chemical Industries Association, Steve Elliott called for an agreed Brexit deal. The absence of an exit agreement between the UK and the EU would have major implications for Europe as a whole.
The European Solvents Industry Group (ESIG) launched on 1st February the Solvents Award 2019 in order to highlight not only safe but also sustainable use of solvents with respect to health and safety, environmental improvements.
Petrochemicals Europe has been shortlisted for the European Associations Award 2019 in the category of the best association website. Since its launch in April 2018, our revamped website has proved very successful in reaching out to key target audiences and achieving its main objectives.
The “MMAtwo” project, which aims at improving Polymethyl methacrylate (PMMA) recycling technology, has been granted funds from Horizon 2020, the EU Research & Innovation programme (2017-2020). The project launched in October 2018 has already moved forward with the organisation in November of a visit to a recycling facility for its partners to identify process steps.
Following the Brexit deal rejection by British MPs on 15 January, Cefic to which Petrochemicals Europe belongs urged policy-makers to find a solution in order to avoid uncertainty about the state of play after 29 March 2019.
INEOS, one of Petrochemicals Europe's member company, announced on 15 January Antwerp as the location of the first petrochemicals steam cracker to be built in Europe in 20 years.
The European Chemical Industry Council, Cefic, to which Petrochemicals Europe belongs expects a modest 0,5% growth in 2019 compared to 2018 due to a decline in demand from the automotive industry in...
On 28 November, the European Commission presented its scenarios outlining ways the EU economy can reach carbon-neutrality by 2050. These scenarios require a huge transformation of all sectors of the e...
The chemical industry in the UK and EU-27 have welcomed an agreed text on the UK’s withdrawal from the European Union and a future trading relationship. This is all the more important for the petrochemical sector since chemicals derived from oil and gas account for 30% of EU chemicals' trade with the UK.
Cefic’s Coal Chemicals Sector Group (CCSG), the association representing European producers of chemicals derived from coal, has just re-branded its image and changed its name into Coal Chemicals Europe. A brand new website is now up and running to inform a broader public about the benefits of coal chemicals.
Port of Antwerp, largest petrochemical cluster in Europe, leads way in sustainability & digitalization
In four interviews, representatives of Antwerp Port Authority depict a performing, sustainable and modern petrochemical cluster that foreshadows the industry of tomorrow. In close cooperation with the Port Authority, petrochemical companies located at the Port of Antwerp strive to minimize their environmental footprint via initiatives like "Zero Pellet Loss", optimize their resources and digitalize plants’ operation thanks to online tools like "NxtPort".
On 16 October, Cefic, CHEM Trust, the European Environment Bureau (EEB) and the UK Chemical Industries Association (CIA) published an Open Letter to all EU Heads of State in the Financial Times to urge the UK and EU-27 governments to allow the UK to remain within REACH and to participate in the European Chemicals Agency (ECHA) post-Brexit.
In the run-up to EPCA Annual Meeting, Dorothee Arns, Executive Director of Petrochemicals Europe, reflected on the current state of the European petrochemicals industry in interviews with two major trade journals: ICIS and Chemical Week.
Borealis, one of Petrochemicals Europe’s members, announced on 6 October that it would build a world-scale petrochemical plant in Antwerp, Belgium to produce propylene, one of the most important building blocks for the chemical industry by 2022.
The “MMAtwo” project, which aims at improving Polymethyl methacrylate (PMMA) recycling technology, has been selected by the European Commission within the SPIRE-10 call to receive funds from Horizon 2020, the EU Research & Innovation programme (2017-2020). The project could unleash a significant recycling potential and turn the PMMA consumption model from a linear to a more circular one.
Cefic to which Petrochemicals Europe belongs presented its Manifesto for a Competitive Europe at the EU Council Competitiveness & Growth Working Party meeting on 17 September. It outlines specific recommendations from the chemical industry aimed at reinforcing the industry’s role as an enabler of all other manufacturing sectors.
How to attract more women to highly-qualified jobs like STEM (Science, Technology, Engineering, Mathematics)? How to tap the female potential more for all major decision-making processes in society?
INEOS, a member company of Petrochemicals Europe, announced on 3 July that it would build an ethane steam cracker and a propane dehydrogenation unit in North West Europe. The steam cracker will be the first to be constructed in Europe in over 20 years.
The EU chemicals sector continued to grow during the first quarter of 2018, but at a slower pace due to the Eurozone economy’s slowdown. Exports to the US rose by nearly 20% in value compared to last year. Petrochemicals accounted for 87% of the exports' increase, although production decreased.
As the REACH registration deadline (31 May) has passed, the European Chemicals Agency (ECHA) and Cefic signed a cooperation agreement on 15 June to further improve REACH implementation.“The European chemical industry is looking to the EU and member states to make sure REACH becomes a competitive advantage for the European industry”, says Cefic.
Dorothee Arns, Executive Director, Petrochemicals Europe, gave the keynote address at the Hydrocarbon Processing’s International Refining and Petrochemical Conference (IRPC) Europe. Her presentation provided a detailed overview of the current state of the European petrochemical industry.
The European Solvents Industry Group (ESIG)'s Generic Exposure Scenarios use maps are now available in the use maps library of the European Chemicals Agency (ECHA) to help REACH registrants and substance users prepare their chemical safety assessment. It is a major recognition of the work ESIG has done in cooperation with downstream users.
The European Solvents Industry Group (ESIG) is once again a partner in the new campaign of the European Agency for Safety and Health at Work (EU-OSHA) for 2018/2019 entitled “Managing Dangerous Substances” that was launched on 24 April.
In February, as part of an induction programme for new comers, Petrochemicals Europe’s staff headed to Antwerp to visit the Port and the BASF petrochemicals site. It gave them the opportunity to get an insight into how the second-largest petrochemical cluster in the world works.
The EU chemical industry continues to grow in 2018 benefiting from a positive global and European economic context. Production increased by 2.6% from January to February 2018 compared to the same period last year.
Petrochemicals’ production to be most important growth driver for global oil demand up to 2030, says McKinsey expert
Interviewed by Petrochemicals Europe, Jasper van de Staaij, Manager, McKinsey Energy Insights and leader of the Global Energy Perspective team, points out that the petrochemicals sector will be the most important growth driver for global oil demand, adding four of seven MMb/d oil demand growth between 2020 and 2030.
Higher performing (high octane) fuels such as fuel ethers play a significant role in mitigating air pollution today. Using fuel ethers as blending components of petrol increases its performance and reduces emissions that impact human health and the environment.
The updated Cefic facts and figures show that there has been a solid 3% growth of chemical output in the EU in 2017, driven by a growing demand from customer industries.
European chemical industry unites over post-Brexit future for the continent’s manufacturing backbone
On 14 November, Cefic (the European Chemical Industry Council) and CIA (the Chemical Industries Association) signed a statement.
On 9 November, the European Fuel Oxygenates Association (EFOA) welcomed the proposal for revised CO2 standards for new passenger cars and for new light commercial vehicles published by the European Commission.
On 9 November, the Council, European Parliament and European Commission have reached a provisional political deal on reforming the EU Emission Trading Scheme (EU ETS).
The recently published Cefic Sustainability report and ChemistryCan website show that the chemical industry including its petrochemistry arm has an important part to play in maintaining our growth and prosperity, and in our transition to a sustainable society.
The European Fuel Oxygenates Association (EFOA) has just published a leaflet showing how higher-octane fuels can help Europe achieve its transport objectives on pollutant and CO2 reduction, as well as on energy efficiency.
With the publication on 13 September of a new industrial strategy for Europe, the European Commission (EC) puts industrial policy back on top of EU’s agenda.
The port of Antwerp illustrates perfectly one of the major assets of the chemical industry in Europe: its integrated sites (“Verbund”).
A new DECHEMA study analyses how the EU’s chemical sector can become low-carbon by 2050. It shows that although most of the low-carbon technologies are already available, they require huge investments in research and innovation to improve processes and make them competitive.
Petrochemicals Europe has just adopted a position paper highlighting the benefits of working for an industry that builds the future.
In interview to the Polish Chemistry magazine, Dorothée Arns, Petrochemicals Europe's Executive Director explains why petrochemistry is at the bottom of a house of cards for the European chemical industry and the overall economy.
Following on from US President Trump’s announcement that he will withdraw from the Paris agreement, Cefic, the European chemical industry association, published a statement reiterating its commitment to a strong global climate change agreement.
Downstream users are strongly encouraged to participate by 2nd June in the European Commission (EC)'s public consultation on NMP classification to prevent it from being included in the REACH authorisation list.
In an article written for Chemistry Today, Dorothee Arns, Petrochemicals Europe's Executive Director, explains the importance of the industry in EU's economy and the macroeconomic factors shaping it.
In an interview, Samuele Furfari, Professor at the ULB, the French-speaking university of Brussels, explains why technological evolution drives geopolitics and not the other way round.
The latest Cefic chemical trends’ report shows that European petrochemicals did not benefit during the first two months of 2017 contrary to the rest of the chemical industry from the expected global economic recovery.
Cefic, to which Petrochemicals Europe belongs, signed together with 16 other associations representing energy-intensive sectors a statement urging EU decision-makers to reform the EU Emission Trading System (ETS) in such a way that it preserves the European industry’s competitiveness.
With its modernized and mobile-friendly design, the new website of ESIG provides a lot of information on the use of solvents by downstream users, regulators, EU policy-makers and the general public.
Accenture has published a new report that demonstrates the potential of the EU chemical industry to be a driver for the success of the circular economy.
Interviewed by Petrochemicals Europe, Tae-Yoon Kim, Energy Analyst at the IEA and one of the World Energy Outlook 2016 (WEO)'s authors points out that oil demand for petrochemicals will continue to grow up to 2040, because few technologically and economically viable alternatives to fossil feedstock are available.
The EU Council carried out this week negotiations on the Emissions Trading System (ETS).
Brussels, 15 February 2017 – Cefic congratulates the European Parliament under the leadership of MEP Ian Duncan, on the result of today's Plenary vote on the EU Emissions Trading System.
Brussels, 7 February 2017 – Cefic has launched a new website focusing on specialty chemicals, to respond to the growing demand for information. Specialty chemical clusters represent over 50 sectors of the European fine and consumer chemicals industry, and its membership counts more than 80% small- to mid-sized enterprises (SMEs).
Brussels, 3 February 2017 – Ahead of a plenary vote on 14 February, the EU chemical industry calls for a fair reform of Europe’s Emissions Trading System (ETS) together with other affected European manufacturing industries.
Brussels, 2 February 2017 – If EU lawmakers want to truly champion a clean energy revolution, the role of Europe’s manufacturing industry as energy producer and consumer will be a key success factor, said Cefic, reacting to Vice-President Sefcovic’s State of the Energy Union speech.
IMPROVING DIVERSITY AND INCLUSION: A Guide to Best Practices for the Global Petrochemical Industry (2017)
The European Petrochemical Association (EPCA) has just published its annual report on diversity and inclusion in the petrochemical industry.
According to the monthly Cefic Chemicals Trends Report of January 2017, output in the EU chemicals sector saw no growth during the first eleven months of 2016 compared to the same period one year ago.
Petrochemicals Europe adopted in December 2016 a Position Paper welcoming the EU Commission´s circular economy concept.
Dorothee Arns, Executive Director, Petrochemicals Europe, European Council of the Chemical Industry (Cefic), Brussels, Belgium “The regulatory and legislative outlook for the downstream industry...
Confronted with a dynamic petrochemical industry in North America, the European petrochemical industry has been investing for years to modernize the sector. This strategy includes among other things the integration of production sites to maintain competitiveness on the market. Source: Infochimie magazine read more (available only in French)
Cefic's latest economic report shows the continuing resilience of the EU chemical sector as it turns to new commercial pathways. Key announcements stressing the need for an investment friendly and attractive Europe were made during the 2016 General Assembly. read more >>
On the occasion of its 2016 General Assembly which took place in Florence, Cefic announced on October 7th the winners of this year's prestigious European Responsible Care Awards. Recognising the top achievers in the EU chemical industry towards excellence in health, safety and environmental standards. read more >>
The negotiations haven't even started yet, with the now infamous Article 50 yet to be triggered by Theresa May's government. Things are starting to take shape and the news will come thick and fast. Follow EurActiv's live feed for all the latest developments and talking points.
Senior business representatives, including Rene van Sloten, Cefic Executive Director for Industrial Policy, defended the need to conclude TTIP. Said van Sloten, "Trade already takes place with or without TTIP. But with TTIP in place, SMEs would benefit with reduced red tape.
The European Commission published its strategy to decarbonise the EU transport sector. Cefic has welcomed it as offering important potential for new innovation and markets for the EU chemical industry as we develop low carbon technology solutions.
A new Commission study on the total cost of EU legislation for Europe's chemical companies shows a doubling of costs between 2004 and 2014, amounting to about 10 billion euro per year.
On Friday 1 July 2016, Cefic welcomes a core group of stakeholders for a REACH event to share the latest information on REACH and unite delegates from companies, associations, the European Chemical Agency (ECHA), the European Commission, and competent authorities to exchange views and experiences .
In response to the EU Commission’s publication of its proposal for a definition of endocrine disruptors (EDs), a joint statement was launched today by the EU chemical industry council (Cefic) together with PlasticsEurope and the European Crop Protection Association (ECPA).
Brussels, June 6, 2016 – The latest figures from Cefic demonstrate the growing importance of the United States as a trading partner for future prospects. This underlines the need to conclude an ambitious TTIP without delay.
Achieving regulatory clarity on endocrine disruptors is in everyone's interest. Cefic analyses the setting of the right criteria to identify endocrine disruptors. Read more.
Brussels, June 1, 2016 – This week Ian Duncan MEP released his draft report with proposals for much needed reform of Europe’s Emissions Trading System (ETS), which aims to reduce industrial carbon emissions.
Brussels, May 26, 2016 – Chemical safety in the circular economy is non-negotiable - this is the view expressed by Peter Smith, Executive Director of Product Stewardship at Cefic during a live panel debate at the Helsinki Chemical Forum today.
The chief executive of French oil and gas giant Total -Patrick Pouyanne- has said Europe needs an independent carbon market regulator with clear objectives rather than the current mix of state administrators and the European Commission that has complicated the market.
On 21 June, Cefic will unite EU policymakers, senior industry representatives and important stakeholders to discuss the upcoming review of the Energy Efficiency Directive at a dedicated workshop at the Brussels Press Club.
Cefic launched three new proposals highlighting how the European Commission’s Better Regulation Agenda can better support growth and innovation in Europe.
A new report shows that despite growing global demand for chemicals and better environmental and energy efficiency performance of the European chemical industry, the competitive pressures on the sector continue to rise.
Yale Environment 360: Surprising new statistics show that the world economy is expanding while global carbon emissions remain at the same level. Is it possible that the elusive ‘decoupling’ of emi...
Cefic is pleased to announce the line-up for this year’s jury, who will select a winner for the 12th edition of the European Responsible Care Awards.
Brussels, March 23rd 2016 - A new Cefic position paper points to missed opportunities in the proposed reform of the Waste Directive to enhance implementation of the Circular Economy and benefit business and the environment.
The EU is currently working on reforms to its Emissions Trading System (ETS) for 2021-30. A clear vision is essential to reach Europe’s ambitious climate goals while supporting competition and innovation.
A report published on the impact of the Paris Agreement concluded during COP21 on Europe’s chemical industry points to a need for a clear and coherent vision for innovation towards the low carbon economy.
Brussels, February 25th 2016, In the midst of challenges for the competitiveness of the EU chemical industry, the latest monthly Cefic Chemical Trends Report shows a mixed outlook.
Brussels, February 24th 2016, Cefic welcomes the European Declaration on Competitiveness adopted by the European Council and points to a number of factors that will be essential for its success. This is particularly critical as the competitiveness of Europe’s chemical industry faces increasing pressure.
In its response, Cefic urges a balanced approach taking into account the significant achievements of the chemical industry towards increasing its own and other sectors’ energy efficiency.
In advance of highly anticipated discussions on the Commission’s proposals to reform Europe’s Emissions Trading System (ETS), Cefic took the opportunity to sit together with Bas Eickhout, MEP and Peter Zapfel from DG Climate, to look at ETS’ chances of delivering on the promise of December’s Paris agreement.
Ahead of negotiations to reform the EU Emission Trading Scheme (ETS) for after 2020, Chris Scott-Wilson, Director of Public Affairs for Cefic, will join MEP Ian Duncan as well as Yvon Slingenberg, Senior Advisor, Cabinet of Commissioner Miguel Arias Canete, Climate Action & Energy, for a live panel debate.
European chemicals production followed a flat trajectory, overall the trade surplus rose by €1.7bn while employment in the industry rose slightly, the second consecutive quarter of sector job growth*.
Cefic is pleased to announce a fresh investment round to support an innovative project designed to help European chemical companies to improve their energy efficiency.
“We are pleased to welcome Marco Mensink on board and are confident he will build on the success of Hubert Mandery..
Cefic calls on policymakers to support conditions for long term growth
After two weeks of negotiations, world leaders have put their signatures to a landmark agreement to cap carbon emissions in an unprecedented effort to keep global temperature rises below 2° Celsius by the end of the century.
Chemical industry leaders talk COP 21. Watch their video interview.
European chemical output grew just 0.3 per cent during the first eight months of 2015 compared to the same period of 2014, according to the latest Cefic Chemicals Trends Report, while producer prices fell 4.5 per cent, year-on-year.
On november 5th, 2015 leaders of Cefic, the European chemical industry association, published a signed letter in the Financial Times expressing its firm support for government’s efforts to secure a strong, globally binding climate change agreement at COP21 in Paris.
On 5 November D Arns will be addressing the American Institute of Chemical Engineers (AIChE) on the occasion of a lecture dinner meeting. Her speech will focus on "The European petrochemical industry - an industry at the crossroads." Download the AIChE Invitation
Cefic welcomes the joint initiative taken by the Luxembourg Presidency of the Council and some EU member states to kick-start the reflection on the future of REACH
"A lot of investments could be required to meet new environmental targets" says D Arns to ICIS. ICIS Interview 20151910
Cefic President Jean-Pierre Clamadieu calls upon EU ministers to make the reformed EU ETS compatible with a competitive European industry
Cefic is looking forward to the adoption of a new set of Sustainable Development Goals (SDGs) by UN member states at a Summit on 25-27 September, replacing the Millennium Development Goals (MDGs) which expire this year.
The European Chemical Industry Council (Cefic) and Together for
Sustainability AISBL have established an official partnership ...
Cefic is disappointed with the Commission’s proposals for reforming the EU Emissions Trading System, unveiled on July 15.
European chemical output grew just 0.3 per cent during the first four months of 2015 compared to the same period of 2014, says Cefic.
Science and sustainable chemistry has had an enormous impact on the development of a healthier and more sustainable and prosperous society...
In just six months’ time, COP-21, the United Nations climate change conference, will start in Paris. The talks are expected to deliver an international climate change agreement covering all countries.
Peak energy emissions could be reached early, the IEA has said. Read more ...
European chemical output grew just 0.1 per cent during the first two months of 2015, latest Cefic Chemicals Trends Report says.
AmCham EU and Cefic hosted on May 12 a joint event on The Transatlantic Trade and Investment Partnership (TTIP).
US chemical producers remain upbeat on their shale gas cost advantage, despite recent steep declines in the price of crude oil.
Cefic subsidiary ReachCentrum has been acquired by Environmental Resources Management (ERM).
New European Union figures suggest greenhouse gas emissions policed by the EU’s carbon trading platform dropped by nearly five per cent last year despite a 1.3 per cent growth in GDP. Preliminary figures from the European Commission appeared to show ...
One of the key speakers to this event will be Dr W Mirabella, Chairman of the EFOA Fuels Team who will address the audience on "The Role Of Fuel-Ethers As High-Performance Gasoline Blend-Stocks".
EU chemicals output edged ahead just 0.3 per cent in 2014 on a year-on-year basis, according to the latest Cefic Chemicals Trends Report.
Platts interviewed Dorothee Arns on the strenghts and weaknesses of the petrochemical industry in Europe. Listen to the podcast
With OPEC and non-OPEC output already slowed, cut in cap-ex seen lowering 2015 non-OPEC supply growth outlook
LONDON (ICIS)--Ethyl tertiary butyl ether (ETBE) remains the bio-component of choice for gasoline blenders because it continues to offer better...
INEOS, one of the world’s largest chemical companies, today hit out at the Environmental Audit Committee’s (EAC) proposal to call a halt to Shale gas development in the UK.
Find out the most up-to-date market information based on currently available data about the Chemical Sector.
European chemical output edged up just 0.7 per cent during the first ten months of 2014, according to the latest Cefic Chemicals Trends Report.
LONDON (ICIS)--European ethanolamines contract prices have fallen a moderate amount for December, but price decreases have been limited by poor...
Capacity utilisation highest in three years, employment up for third consecutive quarter.
SPECIAL REPORT: The European chemical sector has issued a “very serious” warning about its slumping competitiveness, but refuses to be alarmist just yet, saying shareholders should not worry, that big industrial groups are now global, and less exposed to Europe.
Industry groups, including Cefic, lists seven priorities for EU policy leaders to act on.
Low-cost energy, innovation key in addressing EU market share ‘dilution’ and in reversing export decline.
Carbon leakage provisions should be strengthened after 2020 to protect industrial competitiveness after the ETS is fixed, according to one of the EU lawmakers leading work on ETS reform.
European chemicals production was flat in the first seven months of 2014, according to the latest Cefic Chemicals Trends Report.
Reduced economic outlook contributes to cut in global oil demand growth outlook, even as output surges
IHS Chemical expects global demand to rise for certain petrochemical building blocks. more
Contractions in May, June drag on mid-year performance.
After years of recession, the increasingly globalised automotive industry is expanding into fertile new markets. Platts editors analyze the challenges car makers face, the impact of steel prices, and the effects of narrowing price spreads on tire makers.
INEOS has today announced it is making its first move into the shale exploration arena, with the purchase of a 51% share of the shale section of a joint Petroleum Exploration and Development Licence (PEDL) in the UK.
The data from May, however, show EU chemicals output declining on the back of eight successive months of positive growth. Petrochemicals output also continued to slide. Cefic Chemicals Trends Report, July 2014.
As already circulated to MEPs in Strasbourg, find out Cefic's key messages to ensure the competitiveness of the chemical industry in the EU. Jobs and growth start with the real economy July15 2014
Today (July 9) the European Technology Platform (ETP) for Sustainable Chemistry (SusChem) welcomes the launch of the Bio Based Industries Joint Technology Initiative (BBI JTI). This major Public-Private-Partnership (PPP) represents a significant step forward to the realisation of a European bioeconomy.
Cefic released this week a new brochure that aims to raise people’s awareness about the importance of chemical products in their daily lives.
EU chemicals output expanded in April, continuing a stretch of above trend year-on-year monthly growth that started in September 2013, according to the Cefic Chemicals Trends Report released today.
EU chemicals output will grow by 2.0% this year, driven by rising demand from customer industries.
While energy-efficiency gains are needed to lower Europe’s greenhouse gas emissions, low-carbon technologies are also crucial if we are to meet ambitious EU emissions targets in the long term, new comparative research concludes.
New brand name for the Association of Petrochemicals Producers in Europe.
INEOS has won the prestigious “Outstanding Contribution to the Chemical Industry Award” at the 2nd annual Petrochemicals Awards of Excellence.
EFOA believes a full review of the substance's REACH registration due in 2014 will conclude that MTBE is not an endocrine disruptor.
European chemicals quarterly output increased for the fourth consecutive time, according to the Cefic Chemicals Trends Report released on May 27.
EU chemicals sales rise, but remain below pre-crisis levels.
New guidelines will ease the burden of increasing prices on intensive industry.
EurActiv published on March 31an op-ed by Cefic Director General Hubert Mandery on the Transatlantic Trade and Investment Partnership.
Platts petrochemical analysis team have joined forces with our design & production department to produce what we think is a beautifully crafted infographic on global trade flows for polyethylene. It also details surplus and deficit totals and includes key trend points, statistics and forecasts going out all the way to 2023.
With Chinese president Xi Jinping visiting Brussels at the end of March, Rajnish Singh takes a look at cooperation between Beijing and the European Union
Located at www.aromaticsonline.eu the new website of the Aromatics Producers Association contains up-to-date information on the science and the chemistry behind aromatics, their major fields of applications, the sustainable development of aromatics and much more besides.
The EU’s climate establishment rigged the debate on 2030 targets with stacked projections for energy efficiency savings discounts, and wildly optimistic assumptions about the carbon market, according to buildings efficiency industry and NGO sources.
Strategically, and economically, no large economy should abandon its chemical industry. Open Letter to Mr José Manuel Barroso, President European Commission
The dissolution of EREC after a decade in existence comes as the Commission has proposed to scrap renewable-energy targets after 2020.
Year ends with overall strong December, despite petrochemicals contraction.
Cefic released this month its latest Facts and Figures report, providing the most up-to-date information about the EU chemicals sector.
European industry is decoupling its performance from energy consumption.
Output expands in November despite steep drop in petrochemicals.
Evonik’s oil additives team has created a product application guide as a new tool for its customers to aid in the selection of its oil ...
The real competitiveness of Europe’s industry depends on reducing energy intensity levels, not killing investment in the green collar jobs of tomorrow, argues Monica Frassoni, president of the European Alliance to Save Energy.
Cefic provides statement on a series of EU Commission policy papers released on industrial, energy and climate change.
Exploration and production of unconventional gas must now move ahead.
EU to set up ‘stability reserve’ that will automatically withhold or add allowances at set price levels.
Plan to propose legislation harmonising rules on fracking to be scrapped in favour of non-binding advice.
EU chemicals production in October expanded by 1.8 per cent compared to the year prior, according to the latest Cefic Chemicals Trends Report released on January 9.
French oil and gas company Total is to invest in the UK's shale gas industry, it is to be announced on Monday.
Ministers from eight EU states - including Germany and France - have called on the European Commission to set “robust” renewable energy targets for 2030, in a break with an emerging consensus for one emissions-cutting goal alone.
An opinion piece by Cefic Director General Hubert Mandery looks at the debate on shale gas and how it can help Europe remain competitive.
Cefic welcomes the launch today of Horizon 2020 through its first calls by Máire Geoghegan-Quinn, European Commissioner for Research, Innovation and Science, and applauds this ambitious commitment by the EU to fund excellent science and innovation activities in Europe.
EU chemicals production expanded in September by 0.7 per cent compared to the year prior, according to the latest Cefic Chemicals Trends Report.
Ineos is building a new furnace at its petrochemical plant in Rafnes, Norway as it expands capacity to use ethane made from U.S. shale gas it will store in a tank under construction at the site, the chemicals and refinery company said on Tuesday.
Event attendees see roll-out of new website for SPiCE³ energy efficiency programme.
In which European country do chemists and chemical engineers enjoy the highest salary? Where are the best prospects for employment? And which of the various chemical sub-disciplines offer the most jobs?
BASF has begun offering its first commercial volumes of 1,4-butanediol (BDO) produced from renewable raw material produced with dextrose-based fermentation technology licensed from U.S. bioplastics producer Genomatica.
EXCLUSIVE / Better insulation could shave 4% off European industry’s total fuel consumption and emissions bill, a sum worth €3.5 billion a year, says an unpublished report by the Ecofys consultancy.
EU diplomats agreed to begin talks on a legal text to slash permit supply and prop up carbon prices in the bloc's Emissions Trading Scheme (ETS), marking a big step forward for the divisive proposal.
Avoiding a last-minute breakdown, annual United Nations climate talks have limped forward with a modest set of decisions meant to pave the way for a new pact to fight global warming. More than 190 countries agreed in the Polish capital, ...
The shale-energy revolution that started in the US is causing sweeping changes worldwide.
MEPs must choose between accepting a weak Council position on control of biofuel or handing the issue to the next Parliament
Global carbon dioxide emissions from burning fossil fuels will rise to a record 36 billion tons this year, a report by 49 researchers from 10 countries said, showing the failure of governments to rein in the main greenhouse gas blamed for global warming. The report by the Global Carbon Project, which compiles data from research institutes worldwide each year, was published in the journal Earth Systems Data Discussions on Tuesday.
EU chemicals confidence improves in October, third quarter capacity utilisation increases to 79.2 per cent
of 2013 compared with the same period in 2012, according to the latest Cefic Chemicals Trends Report released on November 8.
The winners of the ICIS Innovation Awards for 2013 have been announced. The awards were launched in 2004 and celebrated their tenth anniversary this year. The overall winner is selected from the winners of five individual categories (see below) and for 2013 the winning company is the Cabot Corporation.
Proposal was delayed because of split in German cabinet.
The chemical industry's use of CO2 as a renewable resource can support EU chemical sector sustainable development and future competitiveness, said Dr. Gernot Klotz, Executive Director Research and Innovation at Cefic. Klotz addressed the importance of carbon dioxide as a renewable resource that can be considered a key strategy to support the European chemical sector's sustainable development and future competitiveness.
Scottish operation awarded for strong record in reaching greater energy efficiency.
The closure of Grangemouth highlights how an industry dogged by slow demand, overcapacity and high costs is struggling to compete
Cefic welcomes French and Spanish chemical industry associations as cooperating partners to the SPiCE³ project.
The Energy Information Administration this week will start releasing monthly drilling productivity reports covering shale oil -More-
The first conference of the European Innovation Partnership on Water (EIP Water) entitled “Networking and Interacting – Innovating Water” will be held in Brussels on 21 November 2013.
EXCLUSIVE / Shale gas companies operating in Europe will soon have to respect a muscular legislative package which the European Commission is preparing to publish in December or January, EurActiv has learned.
Chemistry-based products for energy efficiency in buildings to play a critical role in Strategic Implementation Plan for Smart Cities and Communities
EU environment ministers agreed yesterday (15 October) to German demands to scrap an agreement to cap EU car emissions that Berlin argued would cost jobs and damage its premium auto makers.
The Second Conference on CO2 as Feedstock for Chemistry and Polymers took place in Essen, Germany on 7 – 9 October 2013. The conference discussed a new paradigm for industrial chemical production...
Recent setbacks for carbon capture and storage (CCS) technology underline the need for realistic ambition, innovative funding and urgent regulatory action, argues Graeme Sweeney. Graeme Sweeney...
Vote narrowly in favour of environmental impact assessments for fracking projects.
Shale gas companies operating in Europe will soon have to monitor, log and account for methane emissions at drill sites or else face regulation, the EU’s top climate officer has said. The amount of methane released into the atmosphere during shale gas drills is disputed, with one new industry-funded report suggesting it could be less than previously thought.
EU chemicals production decreased by 1.4 per cent during the first seven months of 2013 compared with the same period in 2012, according to the latest Cefic Chemicals Trends Report.
EU on course to hit 2020 carbon targets, but some individual states in danger of falling behind in renewables and efficiency sectors
With Europe's dependence on energy and raw materials increasing, there is an urgent need to overhaul the EU's climate policies, writes Konrad Szymanski
For the first time UN scientists have set a limit on the amount of greenhouse gases that can be released - but is there a short-term alternative?
Ineos says future of chemical plant threatened by decline of North Sea gas, its main raw material, and it could close by 2017 if plan does not go ahead
One of the lead authors of a key UN climate report launched on Friday (27 September) has told EurActiv that Europe’s business competitiveness would be badly hit by global warming of the sort most scientists now believe is likely to arise this century.
The booming shale natural gas development in the U.S. -More-
The IPCC report shows the risks are 'immense', and it would be unscientific to ignore the evidence, says the economist.The latest international assessment of climate science makes it crystal clear the risks are "immense"...
Every year, the Knowledge4Innovation association (K4I) - a group of MEPs who believe that innovation is vital to creating economic growth and jobs in Europe - gather together all the most important players in this area for a three-day event that aims to put innovation at the centre of the political debate.
Commission proposal wins narrow approval.
Platts petrochemical team delves into the outlook for styrene prices, especially global supply constraints and what makes styrene a safe bet for 2013.
Vote may be delayed or sent back to committee rather than have unclear mandate in negotiations with member states.
French petrochemicals group Total is said to be close to announcing a shutdown of its loss-making steam cracker at Carling, in northeastern France. The cracker's viability is no longer assured, due to overcapacity in the market generally and the lack of back-integration into the refinery at the site.
For the second consecutive year, experts will gather in Germany to discuss the subject of carbon dioxide (CO2) as the feedstock of the future. This will be the biggest event on CO2 as chemical feedstock this year bringing new insights into the utilisation of carbon dioxide.
Experts, who estimated that the biofuels industry received the equivalent of a €10-billion “Cyprus bailout” in public support in 2011, have shaved the figure by a fifth.
The word has become so corrupted as to not only be meaningless, but to actually obscure the real issues While the idea of Corporate Social Responsibility (CSR) that became all the rage some time ag...
New building certified by the German Sustainable Building Council (DGNB) Evonik has invested close to €17 million in the new ...
German specialty chemicals producer Evonik said it will "significantly" expand its oil additives production at Jurong Island in Singapore by 2015 through production improvements and debottlenecking. All the measures combined will nearly double output of the site.
As United Nations scientists put the final touches to the first volume of a massive report that will give the world the most detailed picture yet of climate change, they carry a heavy responsibility. Due to be unveiled in the ...
The head of the Dutch nutrition and chemicals company wants to transform global manufacturing into an environmentally sustainable activity
Several cellulosic ethanol plants are expected to go online in the next 18 months, brightening the prospects for meeting the -More-
Carbon trading is the world's fastest growing commodity market, but Interpol says it is still underregulated.
Backed by EU financing, a Spanish water company this week produced its first crop of algae that will be used to manufacture biofuel as an alternative to the more controversial crop-based transport fuels.
Saudi billionaire Prince Alwaleed bin Talal has warned that the Persian Gulf Arab kingdom needs to reduce its reliance on crude oil and diversify its revenues. He expressed particular concern at rising United States shale energy supplies, which are cutting ...
The increase in chemical exports to Asia, spurred by U.S. -More-
EU chemicals production contracted 2.1 per cent in the first five months of 2013 on a year-on-year basis, notes latest Cefic Chemicals Trends Report.
ECHA has today published its roadmap to improve the REACH chemical safety reports and safety data sheets, in a joint initiative between ECHA, Member States and industry associations.
Chemicals industry joins forces with other high-tech sectors to push new innovation policy for Europe through the deployment of Key Enabling Technologies.
Rapporteur's report on the Indirect Land Use Change (ILUC) adopted by EU Parliament's ENVI Commitee with 43 votes in favour and 26 against.
As the EU seeks to address whether biofuels production increases greenhouse gas emissions and whether to tackle the issue by including indirect land use change (ILUC) factors in the environmental assessments, it has ignored the fact that ILUC can neither be observed nor measured and is therefore not a scientifically robust solution, says Matthias Finkbeiner.
The European Commission officially promotes large set of public-private partnerships under research and innovation program Horizon2020.
Cefic responds to European Parliament plenary vote in favour of ETS backloading proposal, calling the decision detrimental to energy-intensive industries in Europe like chemicals.
The EU needs to focus spending on research, not bureaucracy, writes Catherine Bearder
Five years ago the EU was the world leader in championing carbon capture and storage (CCS) but it has since slipped from the top spot due to a lack of investment in this essential part of the EU's objective to reduce carbon emissions, writes Graeme Sweeney.
Chemicals industry executives participated in a roundtable meeting on June 25 with EU Commissioner Antonio Tajani, EU Member States’ representatives, Commission services and other stakeholders.
The chemical industry has presented a new flagship initiative to bring sustainable water use to the next level.
SPECIAL REPORT / The Brussels Capital Region is probably the most ambitious in Europe in terms of introducing energy efficiency in buildings, industry sources tell EurActiv, but the European Commission’s ageing building stock has not yet reaped the benefits.
The European Union has agreed a compromise deal to enforce stricter rules on carbon dioxide emissions for all new EU automobiles from 2020.
German geologists plan to campaign for greater public acceptance of hydraulic fracking in Europe's biggest economy, saying there is scope to make the shale gas industry more environmentally friendly, according to a report.
New IEA / ICCA / DECHEMA joint report concludes that emerging and breakthrough technologies promise indispensable energy efficiency improvements.
SusChem will be actively engaged at the EU’s Sustainable Energy Week 2013 (EUSEW 2013) this week (24 to 28 June). SusChem's chemistry-based key innovation proposals was a big hit at the Smart Cities Stakeholder Platform Annual Conference in Budapest and information on our Smart Cities Innovation initiatives will be available at the Smart Cities desk at the Committee of the Regions venue in Brussels....
Key MEPs and European Commission representatives attended an EFOA lunch debate organised at the European Parliament on 19 June. "Making the right choices for EU Biofuels Policy” was the main theme of the debate with a special focus on the true performances of biofuels and specifically bio-ethers in terms of reduction of CO2 emissions, energy content, as well as other environ
The European Parliament's Environment Committee has given its support to a compromise plan to boost the price of allowances on the EU's carbon market.
The U.S. is on the verge of a new economic boom as the energy and manufacturing sectors see expansions, according to business writer Charles Morris. -More-
The Industry (ITRE) Committee of the European Parliament today voted to amend a proposal from the European Commission to reduce the amount of fuel produced from energy and food crops for fuels under the Renewable Energy Directive and Fuel Quality Directive. readmore
Energy committee to vote on proposal to limit the type of biofuel that can be used to meet EU renewable energy target.
SusChem has published its preliminary analysis of research needs for materials in the early calls of Horizon 2020, as the result of ongoing dialogue with stakeholders and value chain partners undertaken by SusChem’s Materials Working Group...
SPECIAL REPORT / With time running short to agree a post-2020 international deal to tackle climate change, a new report warns that inaction puts the world at risk of greater climate volatility.
BASF has launched an online version of its global magazine “Creating Chemistry.” At www.creating-chemistry.basf.com the company provides insights into future challenges in the areas of resources, environment and climate; food and nutrition; and quality of life.
INEOS Styrenics is to close Expandable Polystyrene plant at its Marl facility at the end of 2013.
A senior European Commission official has poured cold water on claims that a shale gas boom in Europe would result in de-facto low gas prices.
SusChem has just published a new report - ‘Innovative Chemistry for Energy Efficiency of Buildings in Smart Cities’ - outlining where Key Innovations in chemistry can make an immediate impact to improve energy efficiency during the refurbishment of buildings...
Following the tremendous interest in SusChem’s chemistry-based proposals for increasing energy efficiency in buildings shown at the Smart Cities Stakeholder Platform Annual Conference in Budapest stakeholders will be interested in the events being organised during the EU’s Sustainable Energy Week 2013 (EUSEW 2013) in late June....
Following claims that one UK region may have enough gas to meet the UK’s needs for 60 years, there is talk of a gas renaissance
Cuadrilla, the only company to have ‘fracked’ for gas in the UK, is at the forefront of efforts to exploit the country’s unconventional gas reserves
YourFormula.eu – the Sustainability blogging platform - is running a great new competition: “Your ideas for a sustainable future”. The competition aims to encourage young people living in the EU to share their views on how chemistry can ensure that the way we live on our planet and use its resources becomes more sustainable. The best entry wins an iPad...
EU chemicals production contracted 2.1 per cent in first quarter 2013 compared with the same period in 2012, according to the latest Cefic Chemicals Trends Report.
The chemical industry has met the second REACH deadline today, registering chemical substances that are manufactured or imported in quantities of more than 100 tonnes per year.
Europe needs an EU-wide framework if it is to tap into its shale gas reserves quickly enough to reap the benefit, a senior executive at Chevron said on Tuesday.
The European chemicals sector took part in the High Level Group for Smart Cities and Communities that met to discuss urgency need to develop smart cities.
Report setting out the practicalities of building the industry calls for environmental disclosure and for local authorities to get a share of gains
Ever wondered how the shale gas debate might seem with the benefit of hindsight? So has Stefan Schleicher of the Austrian Institute of Economic Research in Vienna.
The European Union’s climate chief says closer cooperation between European countries and an emphasis on energy efficiency will be more effective at lowering prices in Europe than dreams about a United States-style shale gas boom. Speaking at the European Business ...
Competitively priced energy will be essential if the European Union is to deliver jobs and growth alongside progress in combating climate change, EU chemicals industry group Cefic said today at a business event in Brussels.
EU chemicals production fell by 1.6 per cent in January 2013 compared to January 2012, according to the latest Cefic Chemicals Trends Report released on April 8.
WASHINGTON (Reuters) - The Obama administration on Thursday unveiled a new proposal for regulating hydraulic fracturing on federal lands, rolling back some measures from its original, abandoned draft as it sought to ease concerns the rules would be too burdensome for producers.
Cefic published on April 22 its energy roadmap, titled "European chemistry for growth: Unlocking a competitive, low carbon and energy efficient economy."
As America drives to develop shale gas aggressively, its impact on the asian petrochemicals industry remains a hot topic of interest. In this video, Shahrin Ismaiyatim, Wong Wen Yin, and Chen Hui Xin assess the impact of shale gas development on olefins production on olefins production and other alternative feedstocks producers are looking at.
EXCLUSIVE / EU leaders will grapple with controversial issues including shale gas development and climate change mitigation at an energy summit on 22 May, documents obtained by EurActiv show.
EXCLUSIVE / Biofuels companies and associations sent EU cabinet members three e-mails an hour, many containing catastrophic warnings, in the run-up to a recent European Commission proposal to account for greenhouse gas emissions.
The Pesticide Action Network has accused the German chemicals company BASF of buying credibility for industry views within academia, after one of its employee was offered a professorship at Wageningen University in the Netherlands.
Cefic published on April 22 its energy roadmap, titled "European chemistry for growth: Unlocking a competitive, low carbon and energy efficient economy."
EU chemicals production fell by 1.6 per cent in January 2013 compared to January 2012, according to the latest Cefic Chemicals Trends Report released on April 8.
The Durban summit marked a breakthrough in introducing a new phase of international climate policy and it was the EU that paved the way for the others to follow its ambitious climate strategy, writes Connie Hedegaard, European Commissioner for Climate Action.
Latest business developments in plastics manufacturing, processing and machinery building. View here the latest developments (Issue 26/04/2013 / Expiration 15/05/2013)
Members of the environment committee in the European Parliament have approved an amendment to the proposed Energy Efficiency Directive that is to see carbon prices go up.
Lives and livelihoods in vulnerable countries hang in the balance while rich countries bicker over who will disburse climate cash, argues Wendel
SYDNEY, May 6 (Reuters) - Two of Australia's biggest building companies have dealt a blow to hopes that commercial and housing construction could help rebalance the faltering economy away from the overweight and slowing mining sector.
Robert Sharp, associate editorial director, and Subhan Usmani, editor, discuss the affect of Venezuelan President Hugo Chavez's reign, including how Venezuela has changed from a huge exporter to an importer of gasoline from the US.
In South by Southwest Interactive, the tech-geek festival that begins here Friday, some see a five-day spring break of sorts: a chance to discover some buzzy new apps, catch a few panels and party alongside Web celebrities, futurists and many, many bloggers.
The body of former Venezuelan president, Hugo Chavez, will be embalmed and laid to rest at a military museum in Caracas following the funeral, Venezuela's interim leader Nicolas Maduro said.
Platts' biofuels team discusses the growing concern of fraud surrounding waste-derived biofuels, as the industry steps up efforts to curtail bogus trading practices.
Asian butadiene prices hit a more than six month high February 18 on tight availability amid the startup of new synthetic rubber plants in China and higher naphtha feedstock costs.
Mike Rieke, editor in chief of LNG Daily, and Beatrice Bedeschi, associate editor for European Gas Daily, discuss the role of Italy and Spain in the global LNG market, in the light of the strengthening role of the US as an LNG exporter.
Platts' US natural gas team talks about the changes in prices and demand as markets try to settle back down after a cold snap in the northeast US sent natural gas prices and fuel oil prices in the area skyrocketing.