Supply disruption in European styrene market
- Repsol declares force majeure on styrene output in Tarragona following fire
- Output from propylene oxide/styrene monomer unit affected
- Force majeure declared after fire at ethylene cracker
- Investigation underway to determine cause of incident
- European styrene market remains well supplied despite decreased supply from Repsol
Spain’s Repsol has declared force majeure on output from its propylene oxide/styrene monomer unit in Tarragona following a fire at its ethylene cracker. The company has opened an investigation to determine the cause of the incident. Despite the decreased supply from Repsol, the European styrene market remains well supplied. Styrene is used in the production of various consumer products.
Factuality Level: 8
Factuality Justification: The article provides specific information about Repsol declaring force majeure on output from its propylene oxide/styrene monomer unit in Tarragona. It also mentions the cause of the force majeure declaration, a fire due to a leak at the producer’s ethylene cracker. The article includes information about the investigation being conducted by Repsol. However, it does not provide any conflicting information or biased opinions. Overall, the article seems to provide accurate and objective information.
Noise Level: 7
Noise Justification: The article provides relevant information about Repsol declaring force majeure on output from its propylene oxide/styrene monomer unit in Tarragona due to a fire. It mentions the capacity of the unit and the impact on styrene deliveries. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It also does not provide evidence or data to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: The article provides information about Repsol, a financial company, declaring force majeure on output from its propylene oxide/styrene monomer unit in Tarragona. This could potentially impact the styrene market and companies that rely on styrene for their products.
Presence Of Extreme Event: Yes
Nature Of Extreme Event: Industrial Accident
Impact Rating Of The Extreme Event: Minor
Rating Justification: The extreme event mentioned in the article is a fire due to a leak at Repsol’s ethylene cracker, which has led to the declaration of force majeure. While the event is significant for Repsol and its operations, the impact on the overall styrene market is considered minor as the European styrene market remains well supplied. There are no reported deaths, injuries, or significant economic disruptions mentioned in the article.
Public Companies: Repsol (Unknown)
Key People:
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