Price: $ 1295
BMI View: The Israeli petrochemicals industry is set for export-oriented growth in 2013, which should overcome the negative effects of government austerity measures on domestic consumption. However, this exposes it to increased risk and any further crisis in the eurozone could have a severe impact on the sector's performance. The extent to which the Israeli petrochemicals industry will benefit from growth will depend on the sector's competitiveness. Growth in natural gas production, with the beginning of production in the Tamar gas field, will provide an opportunity to reduce feedstock costs. A new hydrocracker at Carmel Olefins' Haifa refinery, installed in Q113, should boost long-term naphtha availability and improve margins. Meanwhile, recent cuts to interest rates have significantly slow ...
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