Chengxing Group will launch a new PET plant in China on June 1 – Chengxing Group, a major Chinese producer of petrochemicals, is planning to put into operation a new PET production plant in Jianggyin, Jiangsu – Chengxing Group PET plant China

Chengxing Group PET plant China Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China  

Chengxing Group will launch a new PET plant in China on June 1 

 MOSCOW – Chengxing Group, a major Chinese producer of petrochemicals, is planning to put into operation a new PET production plant in Jianggyin, Jiangsu Province, China, on June 1, ICIS reported.

The capacity of the new enterprise will be 600 thousand tons of PET per year.

Earlier it was noted that another major PET manufacturer in China – Jiangsu Sanfangxiang Group Company – also plans to start production on June 1 at a new plant in Qianjin with a capacity of 500 thousand tons of PET per year.

Also, another Chinese manufacturer of PET, JW New Fiber, will open a new PET production facility in Fuqing, China, with a capacity of 250,000 tons per year.

According to the Price Review of ICIS-MRC , in March shipments of bottled granulate to Russia from far abroad increased sharply.  Import excluding supplies from Belarus last month reached 11.3 thousand tons against 4.3 thousand tons a month earlier and 6.2 thousand tons in March last year.  In the first quarter as a whole, the import of bottled PET excluding Belarusian supplies increased by 21% to 17.4 thousand tons against 14.4 thousand tons a year earlier.  Import of all types of PET from abroad to Russia in the first quarter amounted to 21.1 thousand tons against 18.7 thousand tons in the same period last year.

Jiangyin Chengxing Industrial Group Co.  Ltd.  is a petrochemical company in China.  The company produces and sells phosphoric chemicals, petrochemical products made from coal, liquid chemicals, etc. Jiangyin Chengxing Industrial Group sells its products around the world.

mrcplast.ru

Author:   Margarita Volkova

Related Topics

-Europe PET players mull over further price hikes in June on tightness – European polyethylene terephthalate (PET) players are considering June spot prices as sellers announce further increases due to high demand during a period of tightness – Europe PET price hikes June

-Prices of PET in the Gulf countries increased against the backdrop of limited supply – Manufacturers of polyethylene terephthalate (PET) in the countries of the Persian Gulf (GCC) increased their price proposals at the end of last week, as the supply of material in the region remains limited – Prices PET Gulf countries

-Nan Ya Plastics increases June prices of PET in the US  – The Taiwanese company Nan Ya Plastics (part of the Formosa Group) announced an increase in June prices for all grades of polyethylene terephthalate (PET) for the US market by 5 cents per pound or USD110 per tonne – Nan Ya Plastics June prices PET USA  

-Thai Indorama completes acquisition of Brazil PET plant – Thai Indorama acquisition Brazil PET plant

-Judge approves sale of bankrupt M&G plant – A bankrupt plastics plant that had been under construction in Corpus Christi now might be completed and put into operation – Judge bankrupt M&G plant

-Buyer emerges for bankrupt M&G plant, but sale still not final – Italian plastics giant M&G USA files for Chapter 11 bankruptcy protection. The company will now have to sell the $1 billion plant it is building in Corpus Christi – Buyer Mossi Ghisolfi M&G plant

-Alpek, Indorama, Far Eastern consortium to acquire M&G Texas PTA-PET plant for $1.12bn – Alpek Indorama Far Eastern consortium Mossi Ghisolfi Texas PTA PET

-The bankruptcy nightmare on Mossi & Ghisolfi will decide the court – A glimmer opened when Eni had shown interest in Biochemtex, but in the end of February the cold shower arrived at the Ministry of Economic Development – Bankruptcy Mossi Ghisolfi court

-Indorama to buy M&G’s Brazil PET plant – Indorama Ventures Public Co. Ltd. (IVL), has entered into an agreement to acquire M&G Polimeros Brazil SA in Ipojuca Brazil for an undisclosed amount – Indorama Mossi Ghisolfi Brazil PET plant

-Indorama wants to buy M&G West Virginia PET plant – Bangkok-based materials company Indorama Ventures Public Co. Ltd. is bidding to buy the West Virginia PET plant and Ohio research and development site of bankrupt M&G Polymers USA LLC. –Indorama Mossi Ghisolfi West Virginia PET plant

-Indorama Ventures is considering buying a M & G PET plant in the US – Indorama Ventures Mossi Ghisolfi PET US

-Mossi & Ghisolfi, the group admits the difficulties: “Delays in the US, even for Hurricane Harvey” – Mossi Ghisolfi group difficulties US Texas

-M&G Resins to shed 100 jobs in Corpus Christi by Thanksgiving – Mossi Ghisolfi Resins Corpus Christi

-Plastics plant is a $100 million headache for U.S., Texas companies – Plastics plant US Texas

-Financial woes endanger $1 billion plant – Mossi Ghisolfi dollars 1 billion plant

-PET resin maker M&G Group files for bankruptcy protection in Italy – PET resin maker Mossi Ghisolfi Group bankruptcy protection Italy

-Alpek cutting off M&G over unpaid bills – Alpek Mossi Ghisolfi

-Latest court filing brings more scrutiny to future of M&G plant in Corpus Christi – Mossi Ghisolfi Corpus Christi

-M&G to cease production at US PET plant in W Virginia – Mossi Ghisolfi US PET West Virginia

-PET resin maker M&G Group files for bankruptcy protection in Italy – PET resin maker Mossi Ghisolfi Group bankruptcy protection Italy

Contractor releases workers from M&G US PET project – Mossi Ghisolfi M G US PET project

-Alpek cutting off M&G over unpaid bills – Alpek Mossi Ghisolfi

-Shares in Mexico’s Alpek drop amid payment issues with client – Mexico Alpek Mossi Ghisolfi

Chengxing Group PET plant China Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China  Chengxing Group PET plant China Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China   Chengxing Group PET plant China  

Please follow and like us:

Europe PET players mull over further price hikes in June on tightness – European polyethylene terephthalate (PET) players are considering June spot prices as sellers announce further increases due to high demand during a period of tightness – Europe PET price hikes June

Europe PET price hikes June Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  

Europe PET players mull over further price hikes in June on tightness

Source:ICIS News

LONDON (ICIS)–European polyethylene terephthalate (PET) players are considering June spot prices as sellers announce further increases due to high demand during a period of tightness.

Europe PET price hikes June Another purified terephthalic acid (PTA) force majeure, at Hanwha General Chemical in South Korea, is expected to contribute to the ongoing constraints for PET producers next month.

Due to supply shortages and strong demand during May, spot prices have posted triple-digit hikes.

PET spot prices are currently priced at €1,215-1,350/tonne FD (free delivered) Europe.

Deals close to €1,400/tonne FD were done towards the end of the month, according to sources, though the majority of market participants noted spot prices had not exceeded €1,350/tonne FD for May delivery.

The ICIS assessment valued PET contract prices for May at €1,150-1,350/tonne FD (free delivered) for bottle grade in east and west Europe, as well as film grade in west Europe.

The contract price table refers to the minimum and maximum freely negotiated domestic deals recorded for deliveries concluded during the named month including the week leading to it, up to and including the last Friday of the month.

Players have begun discussing June spot business, with some sellers settling deals at €1,350-1,400/tonne FD.

However, sources have mixed views regarding the possibility of further increases next month.

Some players view €1,350/tonne as a rather high price level, while others see this as merely the starting point for June price negotiations.

Further feedback is pending.

Spot buyers are struggling to find volumes, while one contractual PET buyer was requested to take smaller quantities from its supplier this month.

“There is no availability. It cannot get worse as far as demand goes. Demand will only get higher,” said one buyer.

One trader said June spot offers were not forthcoming as producers are unsure about targets and availability moving forward.

“What we see is that some of the producers are not able to offer [product] because of availability and even for June/July they don’t want to offer because they don’t know which price. It’s an unseen situation,” said the trader.

Sources expect tightness to persist in the European market until September.

With Asian imports limited and deliveries not expected until July or August at the earliest, sources say buyers have “no alternative” than to purchase European spot at this premium.

One PET producer has priced its freely negotiated contracts at €1,350/tonne for June, stating it will adjust its prices according to demand during the month.

The seller added it would not sell spot material below €1,450/tonne FD for June.

Meanwhile, BP’s force majeure on PTA production at Geel, Belgium is ongoing, according to sources.

JBF’s force majeure on PET continues and is expected to remain in place until the end of the month, a company source confirmed on Friday.

Novapet has been forced to reduce its production rates in Spain to a technical minimum as a result of BP’s PTA force majeure.

Additionally, due to PTA shortages Equipolymers has had to reduce its customer allocations and has no available spot material at present.

The PET producer is expected to return to full capacity next month, according to a company source on 25 May.

With supply short during peak demand season, and no clear relief expected in the short-term, bullishness is expected to continue on the sell side during June.

Europe PET price hikes June

PET is used in fibres for clothing, containers and bottles for liquids and foods, thermoforming for manufacturing, and in combination with glass fibre for engineering resins.

Picture source: Ulrich Niehoff/imageBROKER/REX/Shutterstock

By Eashani Chavda

Related Topics

-Prices of PET in the Gulf countries increased against the backdrop of limited supply – Manufacturers of polyethylene terephthalate (PET) in the countries of the Persian Gulf (GCC) increased their price proposals at the end of last week, as the supply of material in the region remains limited – Prices PET Gulf countries

-Nan Ya Plastics increases June prices of PET in the US  – The Taiwanese company Nan Ya Plastics (part of the Formosa Group) announced an increase in June prices for all grades of polyethylene terephthalate (PET) for the US market by 5 cents per pound or USD110 per tonne – Nan Ya Plastics June prices PET USA  

-Thai Indorama completes acquisition of Brazil PET plant – Thai Indorama acquisition Brazil PET plant

-Judge approves sale of bankrupt M&G plant – A bankrupt plastics plant that had been under construction in Corpus Christi now might be completed and put into operation – Judge bankrupt M&G plant

-Buyer emerges for bankrupt M&G plant, but sale still not final – Italian plastics giant M&G USA files for Chapter 11 bankruptcy protection. The company will now have to sell the $1 billion plant it is building in Corpus Christi – Buyer Mossi Ghisolfi M&G plant

-Alpek, Indorama, Far Eastern consortium to acquire M&G Texas PTA-PET plant for $1.12bn – Alpek Indorama Far Eastern consortium Mossi Ghisolfi Texas PTA PET

-The bankruptcy nightmare on Mossi & Ghisolfi will decide the court – A glimmer opened when Eni had shown interest in Biochemtex, but in the end of February the cold shower arrived at the Ministry of Economic Development – Bankruptcy Mossi Ghisolfi court

-Indorama to buy M&G’s Brazil PET plant – Indorama Ventures Public Co. Ltd. (IVL), has entered into an agreement to acquire M&G Polimeros Brazil SA in Ipojuca Brazil for an undisclosed amount – Indorama Mossi Ghisolfi Brazil PET plant

-Indorama wants to buy M&G West Virginia PET plant – Bangkok-based materials company Indorama Ventures Public Co. Ltd. is bidding to buy the West Virginia PET plant and Ohio research and development site of bankrupt M&G Polymers USA LLC. –Indorama Mossi Ghisolfi West Virginia PET plant

-Indorama Ventures is considering buying a M & G PET plant in the US – Indorama Ventures Mossi Ghisolfi PET US

-Mossi & Ghisolfi, the group admits the difficulties: “Delays in the US, even for Hurricane Harvey” – Mossi Ghisolfi group difficulties US Texas

-M&G Resins to shed 100 jobs in Corpus Christi by Thanksgiving – Mossi Ghisolfi Resins Corpus Christi

-Plastics plant is a $100 million headache for U.S., Texas companies – Plastics plant US Texas

-Financial woes endanger $1 billion plant – Mossi Ghisolfi dollars 1 billion plant

-PET resin maker M&G Group files for bankruptcy protection in Italy – PET resin maker Mossi Ghisolfi Group bankruptcy protection Italy

-Alpek cutting off M&G over unpaid bills – Alpek Mossi Ghisolfi

-Latest court filing brings more scrutiny to future of M&G plant in Corpus Christi – Mossi Ghisolfi Corpus Christi

-M&G to cease production at US PET plant in W Virginia – Mossi Ghisolfi US PET West Virginia

-PET resin maker M&G Group files for bankruptcy protection in Italy – PET resin maker Mossi Ghisolfi Group bankruptcy protection Italy

Contractor releases workers from M&G US PET project – Mossi Ghisolfi M G US PET project

-Alpek cutting off M&G over unpaid bills – Alpek Mossi Ghisolfi

-Shares in Mexico’s Alpek drop amid payment issues with client – Mexico Alpek Mossi Ghisolfi

Europe PET price hikes June Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  Europe PET price hikes June  

Please follow and like us:

RadiciGroup Performance Plastics Plast 2018: Innovation, performance and sustainability – European plastics market strategically important for the Group – RadiciGroup Performance Plastics Plast 2018

RadiciGroup Performance Plastics Plast 2018 RadiciGroup Performance Plastics Plast 2018  RadiciGroup Performance Plastics Plast 2018  RadiciGroup Performance Plastics Plast 2018  RadiciGroup Performance Plastics Plast 2018  RadiciGroup Performance Plastics Plast 2018  RadiciGroup Performance Plastics Plast 2018  RadiciGroup Performance Plastics Plast 2018  

RadiciGroup Performance Plastics at Plast 2018: Innovation, performance and sustainability

Plast 2018

RadiciGroup Performance Plastics Plast 2018

European plastics market strategically important for the Group


RadiciGroup is exhibiting at Plast 2018 (Pavilion 9 – Stand C121 D122), the trade fair for plastics and rubber held every three years in Milan.

During the first half of this year, the RadiciGroup Performance Plastics Business Area has already taken part in several important trade shows around the world: ChinaPlas in China, PlastIndia in India, and NPE in Florida, USA.

Now the plastics compounder has a stopover in Italy, the home country of its headquarters.
Plast 2018 is RadiciGroup’s opportunity to acquaint the Italian market, and the European market in general, with its enhanced product range, backed by over 35 years’ experience in plastics — an industry that is now going through a delicate phase.RadiciGroup Performance Plastics Plast 2018

“The engineering plastics market, and the polyamide market in particular, are going through a very turbulent stage due to structural shortcomings in the supply chain,” pointed out Cesare Clausi, global sales director of RadiciGroup Performance Plastics.

“Demand is steadily increasing, even in mature markets like Europe. And, in the last two years, Italy has started to grow again, maintaining its key position in Europe, second only to Germany.

In this context, not only are we honouring all our commitments without causing inconvenience to our partners, but we are also embarking on a further expansion in production capacity, set to be completed by this summer and primarily involving our plants in Italy.”
In the last few years, the Performance Plastics Business Area has maintained its excellent performance in emerging markets and, on top of that, has continued to strengthen its presence in the European market, which is strategically important for the Group.

Erico Spini, marketing & application development director of RadiciGroup Performance Plastics

Please follow and like us:

Huntsman to build polyurethanes facilities in Dubai – Huntsman is to build a new facility for the production of polyurethanes (PU) in Dubai, UAE, in order to increase its presence in the Middle East – Huntsman polyurethanes facilities Dubai

Huntsman polyurethanes facilities Dubai Huntsman polyurethanes facilities Dubai  Huntsman polyurethanes facilities Dubai  Huntsman polyurethanes facilities Dubai  Huntsman polyurethanes facilities Dubai  Huntsman polyurethanes facilities Dubai  Huntsman polyurethanes facilities Dubai  

Huntsman to build polyurethanes facilities in Dubai

 Source:ICIS News

Huntsman polyurethanes facilities Dubai   LONDON (ICIS)–Huntsman is to build a new facility for the production of polyurethanes (PU) in Dubai, UAE, in order to increase its presence in the Middle East, the US chemical major said on Tuesday.

The facility’s construction is expected to by the second half of 2019, the company said.

It did not disclose details about capital expenditure (capex) nor the production capacities.

The facility will be located within the Jebel Ali Free Trade Zone (JAFZA).

“The MDI [methyl di-p-phenylene]-based systems market in the Middle East has delivered strong growth in the last five years and this trend is forecast to continue at estimated rates of 7% annually,” said Steen Weien Hansen, regional vice president of polyurethanes at Huntsman.

“The construction of the new systems house will enable us to supply traditional and high-end rigid polyurethane formulations from a local source. It will also enable us to leverage our development and production know-how in polyester polyol and polyol blends for the fast-growing flexible foam and footwear markets, as well as pre-polymers for adhesives, coatings and elastomers applications.”

By Jonathan Lopez
Please follow and like us:

India Will Buy Iranian Crude Despite U.S. Sanctions – India will continue importing Iranian crude despite U.S. sanctions, India’s Foreign Minister Sushma Swaraj said ahead of a meeting with her Iranian counterpart Mohammad Javad Zarif – India Iranian Crude USA Sanctions

India Iranian Crude USA Sanctions India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions  

India Will Buy Iranian Crude Despite U.S. Sanctions

 

 India Iranian Crude USA Sanctions

India will continue importing Iranian crude despite U.S. sanctions, India’s Foreign Minister Sushma Swaraj said ahead of a meeting with her Iranian counterpart Mohammad Javad Zarif. Swaraj said, as quoted by Radio Free Europe, that India only honors sanctions imposed by the United Nations, but not ones introduced by individual countries.

India is the biggest buyer of Iranian crude. The last time the United States imposed sanctions on the country, New Delhi continued to trade with it, but when UN sanctions were introduced, it cut back on oil shipments because of the problems it would create for its banking and tanker transport industries.

Last month, India imported an average 640,000 bpd of Iranian crude, the highest since October 2016 and up by 49 percent from March. The amount was also 20 percent higher than in April 2017, which was attributed to major shipping discounts that Iran agreed to grant India.

Crude oil is among the biggest export goods that Iran sends to India, but it also has other interests in it, chief among them the construction of the Chabahar port in the Gulf of Oman. The port is of strategic importance to India, which wants to use it as part of a new maritime route that goes around its neighbor and rival, Pakistan.

There is also speculation that India could decide to settle its Iranian crude oil imports in national currencies to limit the risk of getting penalized by Washington, as small as the chance for this may be, what with New Delhi being a valuable ally in Asia.

Trade settlement in national currencies is something that Iran is eager to adopt in its international trade with a view of minimizing the participation of U.S. dollars in its financial system. China, another major buyer of Iranian crude that has said it will ignore U.S. sanctions, may also decide to start using its national currency to pay for the crude.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:

Related Topics

-Opec behind in upstream investment as glut ends – Headline Brent crude prices are on an upward trend amid Opec’s continuing commitment to supply cuts and US sanctions on Iran and Venezuela – Opec crude oil investment glut ends

The surge is over — why $50 oil is now more likely than $100

-IMF urges Saudi Arabia to resist temptation to spend, as oil prices rise – Saudi Arabia has been advised by the International Monetary Fund (IMF) not to increase spending, as oil prices reach $80 a barrel and are predicted to go higher – IMF Saudi Arabia crude oil prices

-Low oil price era is ‘dead’ as crisis-stricken Venezuela risks a supply shock, analyst says – The “lower for longer” oil price mantra is doomed, one oil analyst told CNBC Tuesday, amid heightened energy market fears of an imminent supply shock – Crude oil price crisis Venezuela supply shock

-Forget About Oil at $80. The Big Rally Is in Forward Prices – Crude Oil $80 Prices

-Oil prices to peak in mid-2019: BofAML – Brent crude oil prices are expected to trend gradually higher, hitting an average of $80 per barrel (/bbl) by mid-2019 before gradually trending lower to an average of $71/bbl by end-2019 – Crude Oil prices peak 2019 BofAML

-What is the perfect price for oil? – When it’s too high, consumers start freaking out and using less. When it’s too low, oil companies cut back operations and lay off thousands of workers – Perfect price crude oil

-The Regulations That Could Push Oil Up To $90 – International regulations on the fuels used in shipping could tighten the oil market and push prices up to $90 per barrel in the next two years – Regulations Push Crude Oil $90

-Morgan Stanley Sees Oil Climbing To $90 By 2020 – Forget Iran and OPEC. There’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley’s oil outlook – Morgan Stanley Crude Oil $90 2020

-Get ready for $100 a barrel oil and the conflict it represents – The geopolitical risk premium in oil has driven crude prices to nearly four-year highs and shows no signs of abating – $100 barrel crude oil

-Oil for $300. Is It Possible? – If major oil companies keep postponing the necessary investments, the next “huge supply shock” may bring the oil price up to $300 per barrel – Crude Oil $300 per barrel possible

-Oil eases as clock ticks down to Trump decision on Iran – Oil eased on Tuesday ahead of an announcement by U.S. President Donald Trump later in the day on whether the United States will reimpose sanctions on Iran, but the price held within sight of its highest in more than three years – Crude Oil Trump Iran

-Saudi Arabia Needs $88 Oil – Higher oil prices have provided a boost to the economies of oil-exporting nations such as Saudi Arabia – Saudi Arabia $88 Crude Oil

-BP says still sees oil at $50-$60/bbl in 2018 as shale output surges – BP expects benchmark oil prices to weaken in the second half of the year as U.S. shale production surges by up to 1.5 million barrels per day – BP crude oil $50 $60 barrel 2018 shale output

-Iran and the oil market – How Iran’s nuclear deal and a host of other factors are forging a new crude reality – Iran Crude Oil market

-Oil output cuts succeeded but future cloudy – There is a danger of Opec, non-Opec members exceeding their vision due to current rally in oil prices, energy expert says – Oil output cuts Opec nonOpec

-Who’s to blame for costly oil? Saudis, Russia and Trump himself – Rising oil prices are now the latest target in President Donald Trump’s cross-hairs. The nation’s tweeter-in-chief complained Friday about OPEC fueling – Blame costly oil Saudis Russia Trump

-Oil pulls back from gains; OPEC says glut nearly gone – Oil prices on Thursday hit highs not seen since 2014, built on the ongoing drawdowns in global supply and as Saudi Arabia looks to push prices higher, though U.S. crude gave back gains in the afternoon to finish lower – Crude Oil OPEC glut Saudi Arabia

-Escalating Middle East Tension Could Trigger Oil Prices To Hit $100 Per Barrel – Oil prices could soon soar to $100 per barrel amid growing fear about conflict in the Middle East, according to an oil analyst for CNBC – Oil Prices $100 Barrel

– IEA: OPEC Mission Near Completion as Oil Glut Vanishes – OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation – IEA OPEC Crude Oil Glut

-Is Russia Cheating On The OPEC Deal? – After three months of steady output, Russia’s crude oil production increased in March to 10.97 million bpd, the highest level since April 2017, as the top two Russian companies boosted their production – Russia Cheating OPEC Deal

-Oil price crosses $70 amid Iran deal tensions – Oil prices rose as investors saw increasing possibility that the US could withdraw from the historic Iran nuclear deal – Crude Oil price dollars 70 Iran tensions

-Is $70 oil the new normal? – The global economy is poised to cope well even if oil prices will remain at around $70 per barrel throughout 2018, energy experts said – Dollars 70 barrel crude oil shale oil

-Will oil prices remain strong for the rest of the year? – The oil inventory trajectory anchors oil prices in the short term, and the cost of bringing on the marginal barrel of US tight oil supply serves as the medium-term anchor for prices – The oil inventory trajectory anchors oil prices in the short term, and the cost of bringing on the marginal barrel of US tight oil supply serves as the medium-term anchor for prices – Crude Oil prices

India Iranian Crude USA Sanctions India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions  India Iranian Crude USA Sanctions India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions   India Iranian Crude USA Sanctions  

Please follow and like us:

‘Stimulating and inspiring’: How P&G made sustainability business critical – Proctor & Gamble’s (P&G) vice president of global sustainability Virginie Helias believes that internal behaviour change helped the company transform a sustainability – P&G sustainability business critical

P&G sustainability business critical P&G sustainability business critical   P&G sustainability business critical   P&G sustainability business critical   P&G sustainability business critical   P&G sustainability business critical   P&G sustainability business critical   P&G sustainability business critical  

‘Stimulating and inspiring’: How P&G made sustainability business critical

EXCLUSIVE: Proctor & Gamble’s (P&G) vice president of global sustainability Virginie Helias believes that internal behaviour change helped the company transform a sustainability strategy into an “unstoppable” and holistic ethos.

 P&G sustainability business critical

Helias noted that all business applications will eventually be working on sustainability as an everyday consideration

Wednesday 9 May marked the annual edie Sustainability Communications conference in London. It also marked, to the day, P&G’s vice president of global sustainability Virginie Helias’ 30th anniversary at the company.

Under Helias’ guidance, P&G has transformed a sustainability department from a “corporate environmental department” – created in 1971 – to a holistic an integral cog in P&G’s operations. The company is in the vanguard of sustainability leadership, having exceeded several of its 2020 goals early, such as reducing water use in manufacturing facilities by 20% against a 2010 baseline, and creating a new supply chain to tackle ocean-bound plastics.

Speaking to edie’s content director Luke Nicholls at the conference, Helias explained how engaging other areas of the business had been an integral step in turning sustainability into a “critical” business metric.

“The most challenging aspect is to drive accountability at every level of the company,” Helias told delegates at the conference. “To move the mindset from ‘sustainability is important to the company’s future’ to ‘it is critical to my business right now’.

“P&G is like a giant cruise ship, it is hard to change direction, but when you manage to do it, the company becomes unstoppable. It’s very important to signify that sustainability is not business as usual, that it calls for extraordinary action. It’s usually stimulating and inspiring for the entire industry.”

P&G, the owner of household brands such as Ariel, Gillette, and Head & Shoulders, recently unveiled its new Ambition 2030 strategy, which includes an industry-leading goal to ensure all packaging is 100% recyclable or reusable.

The company aims to achieve this target by launching sustainable innovations, such as the new Fairy washing up liquid, which will be packaged in bottles made completely from post-consumer recycled (PCR) plastic.

Helias noted that a key lever in setting this goal was to “bring the outside in”. Helias used key findings from reports from the likes of the Ellen MacArthur Foundation to sculpt the business case for tackling ocean plastics, such as the notable conclusion that $80-120bn of plastic packaging material value is lost to the economy due to a linear, take-make-dispose value chain.

Helias and P&G created an external advisory board, made up of “leading-edge” sustainability practitioners and chaired by the company’s chief executive David Taylor. Taylor and the external peers meet two times a year to discuss sustainability and Helias claims that it has helped invigorate and engage the company.

Ambition 2030

As part of Ambition 2030, P&G manufacturing sites will look to cut greenhouse gas (GHG) emissions in half and renewable energy sources will be purchased to power 100% of its plants. The world’s largest consumer products company has also pledged to source at least five billion litres of water from circular methods.

All targets are linked to the Sustainable Development Goals (SDGs), which has been described by numerous sustainability leaders as a “common language” and great engagement tool.

The landscape in the sustainability sphere has shifted incomprehensively during Helias’ time at P&G, and the innovator behind Ariel’s highly successful “Cool Clean/Turn to 30” communications campaign noted that all business applications will eventually be working on sustainability as an everyday consideration.

“There are a lot of parallels with digital [and sustainability],” Helias added.”10 years ago, there were a lot of digital managers; I look forward to the day when saying you work on sustainability will sound as odd as saying ‘I work on digital communications’. Every single market today works on digital communications and when every business leader is working on sustainability, I can happily retire.”

Matt Mace

Please follow and like us:

Plastic resin producers and Circular Economy Goals: An interview with the ACC – On behalf of the nation’s leading plastics resin producers, the Plastics Division of the American Chemistry Council (Washington, D.C.) announced on May 9 three goals designed to accelerate the industry’s transition to a more circular economy – Plastic resin producers Circular Economy Goals ACC

Plastic resin producers Circular Economy Goals ACC Plastic resin producers Circular Economy Goals ACC  Plastic resin producers Circular Economy Goals ACC  Plastic resin producers Circular Economy Goals ACC  Plastic resin producers Circular Economy Goals ACC  Plastic resin producers Circular Economy Goals ACC  

Plastic resin producers and Circular Economy Goals: An interview with the ACC

by: Rick Lingle

Plastic resin producers Circular Economy Goals ACC

On behalf of the nation’s leading plastics resin producers, the Plastics Division of the American Chemistry Council (Washington, D.C.) announced on May 9 three goals designed to accelerate the industry’s transition to a more circular economy. These include:

1. 100% of plastics packaging will be re-used, recycled or recovered by 2040;

2. 100% of plastics packaging will be recyclable or recoverable by 2030; and

3. 100% of the U.S. manufacturing sites operated by ACC’s Plastics Division members will participate in Operation Clean Sweep-Blue by 2020, with all of their manufacturing sites across North America involved by 2022.

There’s a lot to unpack from this ambitious strategy, so I caught up with Steve Russell, ACC’s vice president of plastics regarding reactions, implications, innovations, challenges and more.

How long has this strategy (or position paper) been in process before the release?

Russell: For many years, America’s resin producers have partnered with governments, brand owners, nonprofits and others in numerous initiatives designed to significantly improve recycling and recovery of post-use plastics packaging.Plastic resin producers Circular Economy Goals ACC

However, we realized that to move beyond incremental progress we needed to set goals. So these new goals are designed to accelerate progress. The goals are informed by years of experience, evaluation of new technologies, and the commitments being sent by major companies in key value chains. In the end it was only a matter of weeks for our members to approve these goals, demonstrating that they are deeply committed to growing recycling, and in addition, to supporting their customers’ commitments to do the same.

What’s been the feedback thus far?

Russell:  So far, the reaction has been extremely positive. A few have asked if we can go faster, but many more have noted that these are in fact very ambitious goals. We’ve been clear that we believe these are stretch goals, and that they are an important first step in establishing a common vision to further align everyone with a stake in growing plastics recycling and recovery. At the same time, we realize meeting these goals is going to be a challenge. It will require our industry’s best thinking combined with long-term collaboration, investment, agility and resolve.

Any notable or unexpected positive reaction from an individual or group?

Russell: Since making the announcement, brand owners, nonprofits, and even executives within our member companies have reached out with positive feedback. It’s now up to all of us to capture that enthusiasm to put in place the technology, systems and infrastructure we need to make it happen.

What’s Operation Clean Sweep-Blue? And why is that the first goal?

Russell: Operation Clean Sweep is a system of best practices designed to help contain plastic pellets at all stages of production, shipping, handling and use to minimize accidental releases to the environment. OCS-Blue is a higher standard of practices that includes submitting data that will be publically reported in aggregate over two- to three-year increments. All of our producer members already participate in Responsible Care and have undergone independent certification to ensure they have systems in place to continuously improve environmental performance. In addition, many of them already participate in OCS. Adopting OCS-Blue in resin production operations across North America will help fast-track the move toward greater circularity while keeping valuable plastics out of our oceans and waterways.

Plastic resin producers Circular Economy Goals ACC

Does this change the role or direction of plastics and/or bioplastics in any way?

Russell: Plastics, including bioplastics, will continue to be used in applications similar to today, but with greater opportunities in place to recycle and recover them afterward. Plastics are extremely efficient materials that are helping to lower environmental impacts in virtually every aspect of modern life. By increasing recycling and recovery options, we enable society to sustain economic growth while improving the environment for future generations.

What could be the most exciting changes related to pursuing these goals?

Russell: From an innovation standpoint, new technologies are being developed, some of which can convert used plastics back into basic building blocks, such as industrial chemicals—including monomers for new virgin plastics, waxes, lubricants, ACC goals PQ2and fuels. Our members are taking a strong interest in these technologies. We see expanding value chain partnerships and new business models as key to achieving greater circularity. And from a cultural standpoint, we hope these improvements will enable consumers to view used plastics as raw materials awaiting their next use. We need them to do their part, too.

Of the six key areas identified, is there any one of these that companies should or will focus on first or are all do-able in parallel?

Russell: We intend to focus on these areas: (1) designing new products for greater efficiency and repurposing, (2) developing new technologies and systems for collecting, sorting, recycling and recovering materials, (3) making it easier for more consumers to participate in recycling and recovery programs, (4) expanding the types of plastics collected and repurposed, (5) aligning those products with key end markets, and (6) and expanding awareness that used plastics are valuable resources.

Right now, there’s a lot of emphasis on end markets and seeking innovative ways to repurpose more plastics. In one exciting example, Agilyx (Tigard, OR) is using chemical recycling to create styrene monomer from post-use polystyrene, and Americas Styrenics (The Woodlands, TX) has agreed to purchase that monomer to make new (virgin) polystyrene resin.

Please follow and like us:
1 2