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Fitch: Shale plays to sustain N. American ethylene advantage

04/25/2011
Aggressive investment plans of large oil companies in liquids-rich shale plays will sustain the cost advantage of North American ethylene producers in relation to European competitors "for some time," says Fitch Ratings.US and Canadian shale plays have increased supplies and lowered prices of the light feedstocks that dominate North American ethylene production in relation to the heavy feedstocks more common in Europe.The price of ethane relative to Brent crude oil has fallen to 26% from an average of 33% since February 2008 and highs of 45% at times in the intervening period. Recent increases in the price of crude oil magnify the spread in absolute terms, Fitch points out."...
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