May 2003

Special Report: ACHEMA 2003

Petrochemical outlook – 2003 and beyond

For this industry, the forecast is optimistic. Yet, consumer confidence and global economic growth must be reestablished

Swanson, A. B., Nexant, Inc.

The global petrochemical industry provides added value to natural gas liquids (NGLs), refined products such as naphtha and gas oil, and other hydrocarbons. In recent months, this industry has endured substantial increases in raw material costs as related to crude oil prices. In the US, the feedstock situation has been particularly difficult where NGL prices are linked to natural gas prices. NGL and natural gas pricing have been high and volatile as a cold winter drove stock levels below the five-year trend for this time of year. Historically, this global industry is generally able to recover from high feedstock costs although sometimes with a discomforting delay. CYCLIC BUSINESS

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