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Issue 5/2018 - Global Chemicals Quick Facts

 Last Update: 2022-11-11
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The U.
S.
chemical industry supports Trump's infrastructure upgrade plan

On February 12, the White House submitted an infrastructure investment plan to Congress, planning to use $200 billion in federal funds over the next 10 years to leverage $1.
5 trillion in local government and social investment to transform America's dilapidated roads, railways, airports, and water infrastructure
.

In recent years, U.
S.
states have taken on more public infrastructure spending than in the past, and the White House wants to accelerate that trend
.
U.
S.
Chemical Corporation welcomed
the long-awaited plan to rebuild aging infrastructure systems.
"Building and repairing the nation's road network, railroad and waterway network will create jobs and enhance U.
S.
competitiveness
," Dow Chemical said in a statement.
Dow Chemical and other U.
S.
chemical companies, as well as countless U.
S.
citizens, will benefit from the investment program
.
”

Demand for lubricants in the UK is declining

According to the latest report from the US Fredonia Group, demand for automotive lubricants in the UK is expected to decline at a compound annual rate of 0.
2% by 2021 to 286,000 tons
by 2021.
Despite the decline in overall UK demand for automotive lubricants, UK demand for automotive synthetic lubricants is expected to grow at an average annual rate of 2.
2% through 2021 to reach 126,000 tonnes
by 2021.

As an island nation, the UK does not export goods by truck as continental countries do, so medium and heavy vehicles account for a lower proportion of demand than the rest
of Europe.
Increasing price acceptance of synthetic lubricants, stricter emissions regulations, and requirements from OEMs to use low-viscosity lubricants are driving demand for
synthetic lubricants.
At the same time, high-quality synthetic lubricant formulations and improved engine technology extend the life cycle of lubricants, resulting in lower
requirements.

India's refining capacity will increase significantly

India's refiners recently plan to increase India's refining capacity by 77 percent to about 8.
8 million barrels by 2030 to meet the country's growing fuel demand
.
According to a report prepared and published by India's Ministry of Oil and Gas, India's refining expansion plan will ensure that the country has an adequate
supply of diesel and gasoline by 2035.
As India's economic expansion and growing industrial activity have led to improvements in its infrastructure, stimulating energy use by commercial and retail consumers, India is becoming one of the main drivers of
global refining fuel consumption growth.

If current consumption patterns continue, India's fuel demand could increase from about 194 million tonnes last year to 335 million tonnes in 2030 and reach 472 million tonnes
by 2040, the oil ministry report said.
According to the report, based on the refining expansion plan submitted to the government by Indian refiners, India's gasoline production will remain surplus in 2035, however, there will be a shortage
of gasoline supply by 2040.

Global oil majors are starting to return to investors again

With the recovery of the oil market, the phenomenon of large dividends and huge stock buybacks in the global oil industry is reappearing
.
Total said on February 8 that it will raise its dividend by 10% over the next three years and will buy back up to $5 billion in shares
.
Chevron, Statoil, Anadarko and ConocoPhillips have all announced higher investor returns this year
.
Last October, BP announced a new share buyback program
.

Generally, a company's repurchase of existing shares will make the remaining shares more valuable
.
Oil prices have rebounded sharply, and years of painstaking efforts by the oil industry to cut costs are starting to pay off
for investors.

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