Abandoned fishing nets recycled nylon

Abandoned fishing nets recycled nylon

How abandoned fishing nets are recycled into nylon Abandoned fishing nets recycled nylon

Aquafil, Nofir recycle recovered nets into yarn for fashion, interior industries.

Last month, Norway-based Nofir collected 24 tons of discarded fishing nets from Antarctica’s oceans. After the nets are dismantled and cleaned, Nofir sends them off to Italy-based Aquafil to be processed into nylon yarn.

An estimated 640,000 tons of fishing gear gets discarded in the oceans each year. Dolphins, sea turtles and whales have been found entangled in the nets and many of them die. According to the Ellen MacArthur Foundation, if the problem continues, there will be more plastic than fish in the ocean by 2050. Abandoned fishing nets recycled nylon

Nofir was established in 2008 in response to increasing reports of fishing nets by Norwegian environmental organizations and fisherman.The company aims to not only recover and recycle material, but to “reduce pollution caused by discarded nets.”

Nofir’s recycling process includes collecting, dismantling, sorting, cleaning and transporting the nets to Aquafil’s facility in Slovenia, where nets undergo a journey from “waste to wear.” According to Aquafil’s research, one ton of nylon nets can create 26,000 socks.

“We’re happy and proud to collect waste from such a distant area like Antarctica,” says Nofir CEO Øistein Aleksandersen. “Arctic nets are cleaned, cut and packed manually by workers in our factory. Soon they will be sent for recycling and ending up as new products, like swimsuits.” Abandoned fishing nets recycled nylon

“Turning nets into raw material is not only good resource management, but in cases such as this one, also a great win for the environment as the discarded equipment will not end up in the ocean,” he adds.

To date, Nofir has collected more than 30,000 tons of fishing nets from Europe, Africa, Asia and the United States.

Over the past five years, organizations and companies throughout the world have been working together under the Healthy Seas initiative to clean oceans of fishing nets and then recycle the nets into sustainable apparel. Abandoned fishing nets recycled nylon

In October, Aquafil says divers removed four tons of submerged fishing nets off the coast of Italy. “Ghost fishing nets” account for 10 percent of all ocean plastic. November, another team of divers managed to remove one ton, or 30 percent, of nets that were covering a reef in Santorini, Greece. Divers report another nearby reef is “completely covered” by nets.

According to Aquafil, the Slovenian plant has recycled 375 tons of fishing nets.

In December, Aquafil opened its first U.S.-based carpet recycling facility in Phoenix, Arizona. Old carpets broken down into nylon will be shipped to the Slovenian facility to be converted, together with fishing nets, into yarn for the fashion and interior industries, the company says.

Source : recycling today

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Aquafil USA carpet recycling plant

Aquafil USA carpet recycling plant

Aquafil opens first U.S. carpet recycling plant

A second carpet recycling facility to open in Woodland, California, in 2019.

Edited by Kelly Maile

Trento, Italy-based Aquafil, a leading manufacturer of Nylon 6, opened its first U.S. carpet recycling facility in Phoenix, Arizona. More than 160 customers, suppliers and sustainability experts gathered at the grand opening of the 116,000-square-foot Aquafil Carpet Recycling (ACR) No. 1 facility in December. Aquafil USA carpet recycling plant

Aqaufil USA President Franco Rossi says 3.5 billion pounds of carpets are discarded each year in the U.S. Only two or three percent is recycled and the rest “goes to landfill or is incinerated.” The facility will have the capacity to collect and process 35 million pounds of carpet per year.

At the recycling facility, old carpets are broken down into three main components: polypropylene, Nylon 6 and Nylon 6 fiber. The polypropylene will go into the injection molding industry, while the Nylon 6 and Nylon 6 fiber will be shipped to Aquafil’s Slovenia-based facility and converted into nylon yarn for the fashion and interior industries.

ACR uses what the company says is the only technology capable of converting Nylon 6 from carpets and other end-of-life products, including fishing nets, back into raw material.

Aquafil President and CEO Giulio Bonazzi says the idea of creating a network of carpet recycling facilities started 20 years ago with a conversation he had with Ray Anderson, the late founder of Georgia-based carpet flooring company Interface.

“In a circular economy industry, we should manufacture everything with the end in mind,” Bonazzi says.Aquafil USA carpet recycling plant

David Oakey, the well-known carpet designer for Interface, spoke at the event, saying “I think Ray Anderson is smiling today.”

In 1996, Anderson declared that his company would become sustainable and established “Mission Zero 2020.” Bonazzi says Aquafil was among the first suppliers to respond to his call to action.

The Phoenix plant will create 50 new jobs and will bring Aquafil closer to its goal of producing ECONYL yarn from 100 percent postconsumer material.

The Aquafil Group has plants in Italy, the U.S., Germany, the U.K., Slovenia, Croatia, China and Thailand. Rossi announced on stage the opening of a second carpet recycling facility in Woodland, California, in 2019.

Source : recycling today

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Polymers PET rPET Petrochemicals Prices

Polymers PET rPET Petrochemicals Prices

        Polyestertime

ITEM14/01/201921/01/2019+/-
Bottle grade PET chips domestic market8,025 yuan/ton8,325 yuan/ton+300
Bottle grade PET chips export market1,045 $/ton1,070 $/ton+25
Filament grade Semidull chips domestic market7,675 yuan/ton7,750 yuan/ton+75
Filament grade Bright chips domestic market7,625 yuan/ton7,700 yuan/ton+100
Pure Terephthalic Acid PTA domestic market6,265 yuan/ton6,520 yuan/ton+255
Pure Terephthalic Acid PTA export market815 $/ton830 $/ton+15
Monoethyleneglycol MEG domestic market5,110 yuan/ton5,120 yuan/ton+10
Monoethyleneglycol MEG export market628 $/ton618 $/ton-10
Paraxylene PX FOB  Taiwan market1,069 $/ton1,070 $/ton+1
Paraxylene PX FOB  Korea market1,049 $/ton1,050 $/ton+1
Paraxylene PX FOB EU market969 $/ton965 $/ton-4
Polyester filament POY 150D/48F domestic market 8,090 yuan/ton 8,280 yuan/ton+190
Recycled Polyester filament POY  domestic market7,950 yuan/ton8,000 yuan/ton+50
Polyester filament DTY 150D/48 F domestic market10,050 yuan/ton10,200 yuan/ton+150
Polyester filament FDY 68D24F domestic market 9,600 yuan/ton9,750 yuan/ton+150
Polyester filament FDY 150D/96F domestic market8,975 yuan/ton9,150 yuan/ton+175
Polyester staple fiber 1.4D 38mm domestic market8,850 yuan/ton8,850 yuan/ton
Caprolactam CPL domestic market12,900 yuan/ton12,900 yuan/ton
Caprolactam CPL overseas  market1,580 $/ton1,580 $/ton
Nylon6 chips overseas  market1,870 $/ton1,910 $/ton+40
Nylon6 chips conventional spinning domestic  market14,900 yuan/ton14,600 yuan/ton-300
Nylon6 chips  high speed spinning domestic  market14,500 yuan/ton14,550 yuan/ton+50
Nylon 6.6 chips domestic  market33,000 yuan/ton33.000 yuan/ton
Nylon6 Filament POY 86D/24F domestic  market17,100 yuan/ton17,300 yuan/ton+200
Nylon6 Filament DTY 70D/24F domestic  market20,100 yuan/ton20,200 yuan/ton+100
Nylon6 Filament FDY  70D/24F  domestic  market18,300 yuan/ton18,400 yuan/ton+100
Spandex 20D  domestic  market39,000 yuan/ton 39,000 yuan/ton
Spandex 30D  domestic  market38,000 yuan/ton 38,000 yuan/ton
Spandex 40D  domestic  market33,000 yuan/ton 33,000 yuan/ton
Adipic Acid domestic market7,900 yuan/ton8,100 yuan/ton+200
Benzene domestic market4,750 yuan/ton4,750 yuan/ton
Benzene overseas  market566 $/ton568 $/ton+2
Ethylene South East market760 $/ton855 $/ton+95
Ethylene NWE  market846 $/ton900 $/ton+54
Acrylonitrile ACN  domestic market11,800 yuan/ton11,800 yuan/ton
Acrylonitrile ACN  overseas market1,400 $/ton1,400 $/ton
Acrylic staple fiber ASF  domestic market16,000 yuan/ton16,000 yuan/ton
Viscose Staple Fiber VSF  domestic market13,300 yuan/ton13,350 yuan/ton+50
PP Powder domestic market9,200 yuan/ton9,200 yuan/ton
Naphtha overseas market  503 $/ton499 $/ton-4
Phenol domestic market 8,500 yuan/ton8,500 yuan/ton
PS Taiwan 5250 GPPS1,330 $/ton1,325 $/ton-5
PS Taiwan 8250 HIPS1,415 $/ton1,400 $/ton-15
LDPE CFR Far East 1,012 $/ton1,012 $/ton
LLDPE CFR Far East993 $/ton993 $/ton
LDPE   FOB Middle East999 $/ton999 $/ton
LLDPE FOB Middle East979 $/ton979 $/ton
HDPE CFR Far East1,049 $/ton1,024 $/ton-25
Homopolymer PP CFR Far East1,039 $/ton1,050 $/ton+11
Homopolymer PP FD NWE1,183 €/ton1,183 €/ton
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Arvind sustainable dyeing technologies India

Arvind to adopt sustainable dyeing technologies in its units across India

Arvind sustainable dyeing technologies India

Textile major Arvind is keen on introducing DyeCoo’s CO2-dyeing technology at its manufacturing plants across India. This eliminates the need for water and chemical dyes and is environmental free. DyeCoo, a Dutch company, is looking to partner leading textile firms in India. Arvind sustainable dyeing technologies India

If all goes well, Arvind will be the first company in India to introduce sustainable technology in the manufacturing of textiles in India. Arvind is in the process of ramping up textile production across its manufacturing units as it plans to double its textile business in the next five years. The company has earmarked an investment of Rs 500 crores every year for the next five years to expand its textile business.

Arvind has an annual production capacity of more than 100 million meters in denim, 132 million meters in woven fabric, 10,000 tons of knit fabric and 48,000 meters of voile. The group has built a strong portfolio of brands that straddles consumer segments across the income pyramid.Arvind sustainable dyeing technologies India

The company is also looking at developing garment clusters in Jharkhand, Andhra Pradesh and Gujarat. Each of these clusters will employ 4000 to 8000 workers. These clusters will be like a global supply chain. Arvind already has a cluster operational in Ethiopia.

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Crude Oil supply price direction

Oil may look beyond supply for price direction

Crude Oil supply price direction

Brent crude and West Texas Intermediate have been on a recovery path since start of year

Siddesh Suresh Mayenkar, Senior Reporter

Source : Crude Oil supply price direction

Dubai: Oil prices are likely to look beyond the supply and demand dynamics that govern them — to factor in events such as the trade talks between the US and China and the behaviour of stock markets and bonds — and rise over the next few weeks, experts say.

Brent crude and West Texas Intermediate has been on a recovery path since the start of the year.Crude Oil supply price direction

Brent crude has gained 16 per cent since the end of 2018, while the WTI has accumulated 18 per cent in gains since January 1. On Friday, the WTI rose 3.25 per cent at $53.76 (Dh197) a barrel, Brent crude was up 2.29 per cent at $62.58 per barrel.

“With the Opec+ group of nations doing their best to curb supply, the demand side remains the key area of uncertainty. Crude Oil supply price direction

Consequently, the main focus and price driver at this stage remains macroeconomic developments as seen through the performances of stocks and corporate bond yields,” said Ole Hansen, head of commodity strategy at Saxo Bank.

Crude Oil supply price direction

WTI and Brent crude have both settled into their November to December consolidation ranges, which for WTI is between $50 and $55 and $57.50 to $64 for Brent, Hansen said.

The Opec plus group, which includes major oil producers such as Saudi Arabia and Russia, has agreed to cut 1.2 million barrels of oil per day of supply from the oil market to cut the surplus, and boost prices. Crude Oil supply price direction

The oil producers will be reviewing the agreement in six months. On the demand front, the International Energy Agency revised its demand projection upwards to 1.4 million barrels per day from the earlier expectation of 1.3 million barrels per day.

“We are still sceptical that 2019 will be a faster year of growth than 2018 given non-trade related risks (eg volatile FX, debt levels, withdrawal of monetary stimulus) to the performance of most economies, not least of which are China and India.

Trade talks between China and the US are yet to be resolved and there is no guarantee that they will end positively, keeping a prominent downside risk entrenched in oil markets for the year,” said Edward Bell, Commodities Analyst at Emirates NBD.

The price market structure for the Brent crude price has flipped to a slight backwardation after hovering in a slight contango for the past two weeks.

The 1-2 month spread ended the week at $0.11 per barrel in backwardation while the June/Dec 19 spread ended the week backwardated by $0.41 per barrel, its widest level since mid-November, according to Bell.

“Recently implemented Opec+ cuts and increased pressure on Iran should tighten up supply and push the market into deficit come in the second half.

We expect these factors will prove supportive for oil prices this year and believe the term structure of Brent will rotate from contango into backwardation in 2Q19 as the market tightens.Crude Oil supply price direction

WTI crude structure is likely to remain under pressure during first half as infrastructure constraints and refinery turnarounds result in further builds at the Cushing hub,” Francisco Blanch, Commodity and Derivatives Strategist at Bank of America Merrill Lynch said.

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Polymers Petrochemicals renewability Recycling 21-01-2019

 

Crude Oil Prices Trend

Polymers Petrochemicals renewability Recycling

Polymers PET rPET Petrochemicals Prices

Polymers Petrochemicals renewability Recycling

PM Theresa May to present Brexit ‘Plan B’ to parliament

British Prime Minister Theresa May unveils her Brexit “Plan B” to parliament on Monday after MPs shredded her EU divorce deal, deepening the political gridlock 10 weeks from departure day.

Britain will leave the European Union on March 29 without a deal unless MPs can force a delay or get their act together in time and come up with an alternative plan that Brussels is also happy with.

The world’s fifth-biggest economy could lose preferential access to its largest export market overnight, affecting every sector, leading to rising costs and disruption at British ports.

London and Brussels have spent the best part of two years working on a divorce agreement but MPs in parliament’s lower House of Commons comprehensively rejected it on Tuesday.

May’s government then survived a confidence vote on Wednesday and set about talks with figures from rival parties.

But the main opposition leader Jeremy Corbyn stayed away, saying a “no-deal” departure must be ruled out first — something May says is impossible.

Polymers Petrochemicals renewability Recycling

Aquafil opens first U.S. carpet recycling plant

A second carpet recycling facility to open in Woodland, California, in 2019.

Trento, Italy-based Aquafil, a leading manufacturer of Nylon 6, opened its first U.S. carpet recycling facility in Phoenix, Arizona. More than 160 customers, suppliers and sustainability experts gathered at the grand opening of the 116,000-square-foot Aquafil Carpet Recycling (ACR) No. 1 facility in December. Aquafil USA carpet recycling plant

Aqaufil USA President Franco Rossi says 3.5 billion pounds of carpets are discarded each year in the U.S. Only two or three percent is recycled and the rest “goes to landfill or is incinerated.” The facility will have the capacity to collect and process 35 million pounds of carpet per year.

Polymers Petrochemicals renewability Recycling

Biotech Partnership Raises €7.5M to Recycle Plastics With Enzymes

The French biotechs Carbios and Toulouse White Biotechnology have been awarded €7.5M to industrialize their plastic recycling programme, which uses enzymes to break down waste.

The funding comes from the public initiative Investments for the Future Program, which is aimed to foster innovation in French industries. The €7.5M is to be paid in installments over a period of 39 months. Carbios is the leader of the project, and will receive up to €4.1M of the total.

The funding will help to accelerate the industrialization of Carbios’ technology, which aims to recycle plastics containing the polymer polyethylene terephthalate (PET), commonly found in textiles and bottles.

Polymers Petrochemicals renewability Recycling

Oil may look beyond supply for price direction

Brent crude and West Texas Intermediate have been on a recovery path since start of year

Siddesh Suresh Mayenkar, Senior Reporter

Dubai: Oil prices are likely to look beyond the supply and demand dynamics that govern them — to factor in events such as the trade talks between the US and China and the behaviour of stock markets and bonds — and rise over the next few weeks, experts say.

Brent crude and West Texas Intermediate has been on a recovery path since the start of the year.

Brent crude has gained 16 per cent since the end of 2018, while the WTI has accumulated 18 per cent in gains since January 1. On Friday, the WTI rose 3.25 per cent at $53.76 (Dh197) a barrel, Brent crude was up 2.29 per cent at $62.58 per barrel.

Polymers Petrochemicals renewability Recycling

How abandoned fishing nets are recycled into nylon 

Aquafil, Nofir recycle recovered nets into yarn for fashion, interior industries.

Last month, Norway-based Nofir collected 24 tons of discarded fishing nets from Antarctica’s oceans. After the nets are dismantled and cleaned, Nofir sends them off to Italy-based Aquafil to be processed into nylon yarn.

An estimated 640,000 tons of fishing gear gets discarded in the oceans each year. Dolphins, sea turtles and whales have been found entangled in the nets and many of them die. According to the Ellen MacArthur Foundation, if the problem continues, there will be more plastic than fish in the ocean by 2050.

Polymers Petrochemicals renewability Recycling

Saudis cut, Russians hiked oil output ahead of pact: IEA

Paris: Saudi Arabia demonstrated its resolve to lift oil prices by slashing output ahead of the entry into force of new pact limiting production while Russia boosted output to a record level, the International Energy Agency said on Friday.

World oil markets have been on a rollercoaster ride in recent months, with OPEC and its partners including Russia, often called OPEC+, agreeing to cut back production again from January in order to reverse a slump in oil prices on abundant production and worries about slower global growth.

In its latest monthly report, the Paris-based International Energy Agency said the Saudis took the lead by cutting output in December as prices tumbled by more than a third in just two months.

Polymers Petrochemicals renewability Recycling

Arvind to adopt sustainable dyeing technologies in its units across India

Textile major Arvind is keen on introducing DyeCoo’s CO2-dyeing technology at its manufacturing plants across India.

This eliminates the need for water and chemical dyes and is environmental free. DyeCoo, a Dutch company, is looking to partner leading textile firms in India. Arvind sustainable dyeing technologies India

If all goes well, Arvind will be the first company in India to introduce sustainable technology in the manufacturing of textiles in India.

Arvind is in the process of ramping up textile production across its manufacturing units as it plans to double its textile business in the next five years.

The company has earmarked an investment of Rs 500 crores every year for the next five years to expand its textile business.

Polymers Petrochemicals renewability Recycling

BP Polymers Introduces Kortrax® Barrier Resin for HDPE Containers    

BP Polymers, LLC proudly announces the launch of Kortrax® BR – the latest generation in barrier resins for HDPE containers.

A full year of research and development was invested by BP Polymers in developing the Kortrax® BR family of products, leveraging the mono-layer barrier technology originated and developed previously with Quoral® barrier resins.

Kortrax® utilizes the same platform as Quoral® – a polyamide base – with the addition of other polymers to improve both the chemical permeability performance profile and the oxygen transfer rate (OTR) of HDPE containers.

Kortrax® constructed containers, trade marked as Baritainers®, can safely transport solvent based products such as household chemicals, industrial chemicals, cleaning solvents, adhesives, wood preservatives, automotive additives and agricultural chemicals.

Polymers Petrochemicals renewability Recycling

Microban technologies receive sustainability approval

Huntersville, N.C. – Microban International is deepening its range of sustainable products.

The company, an antimicrobial and odor control and prevention technology source, has received bluesign approval for two technologies: Scentry Revive BC300A and BC300B; and Aegis AEM5772-5, AEM5700 and FU5700.

These additions bring the Microban bluesign-approved portfolio to a total of 10 antimicrobial and odor control solutions. Scentry Revive, a patent-pending odor capture platform, launched globally in April 2018. AEGIS has been a leading antimicrobial solution for more than 30 years.

Polymers Petrochemicals renewability Recycling

 Are we heading for a plastic-free world? – just-food FUTURES analysis

An increasing number of retailers and suppliers are pledging to go ‘plastic-free’, but will the industry ever do away with plastic completely? And what do food companies need to do to align themselves with this growing environmental concern? The third issue of FUTURES from just-food explores the possibility of a world without plastic.

More than a third of the food sold in the EU comes packaged in plastic, with estimates suggesting that, by 2020, Europe will consume more than 900 billion items of packaged food annually.

According to Greenpeace, this puts a truckload of plastic waste into our oceans every minute, where it becomes a hazard for marine wildlife and ends up in everything from seafood and drinking water to beer and sea salt.

Polymers Petrochemicals renewability Recycling

IntraPac completes merger with Technical Precision Plastics

US-based manufacturer of rigid packaging solutions IntraPac International has completed its merger with Technical Precision Plastics (TPP).

The transaction marks the second for IntraPac under Oncap’s ownership following the acquisition of Quality Plastics in September 2017.

Established in 1984, TPP offers injection moulding of special components for medical and premium consumer applications.

The company currently operates two manufacturing locations at Mebane in North Carolina, US, and Haina in the Dominican Republic offering medical clean room and multi-shot moulding and services.

Polymers Petrochemicals renewability Recycling

Federal shutdown threatens to delay vehicle launches

Automotive Government/Legal Industry Manufacturing

Vehicle certification is among the functions halted by the nearly four-week partial shutdown of the federal government, meaning auto makers could face delays in launching new and updated models if the impasse in Washington drags on.

Under the Clean Air Act, new vehicles and engines can’t be sold legally in the U.S. without approval from the EPA. Jim Farley, Ford Motor Co.’s president of global markets, noted this week that the automaker has a number of important products headed to dealerships this year, including the redesigned Explorer and Escape, as well as the new Lincoln Aviator.

“We’re all waiting in lines,” Farley said at the Automotive News World Congress in Detroit. “Every new vehicle has to get certified through the government. If that gets backed up, so do the launches.”

Polymers Petrochemicals renewability Recycling

Volatility in crude oil prices pinches synthetic textile manufacturers

Raw material buyers in the synthetic textile industry disappeared from the market amid expectations of a further fall in prices

Volatility in crude oil prices pinches synthetic textile manufacturers

Volatility in crude oil prices has hit synthetic textile manufacturers hard, with a frequent change in buying behaviour observed for both the raw material and finished products segments.

When crude prices hit their highest levels in 2018 at $86 a barrel (on October 3), raw material buyers placed massive orders steadily to build their pipeline inventory before any further rise.

However, the entire sentiment saw a reversal in two months, when crude oil prices slipped to trade at $49.73 a barrel (on December 24).

Polymers Petrochemicals renewability Recycling

Local invention to replace plastic bottles

BOTTLES made out of eco-friendly material that replaces plastic have generated a lot of interest.

That is according to Ray de Vries, founder and chief executive of the Air Water company that produces them as part of its “zero plastic, zero harm” campaign.

Made from sugar cane, the 100% sustainable bottle can be used as many times as necessary and, once composted, decomposes within 120 days, said De Vries.

“The Eco Water Bottle will be on the shelves in months. We are talking to investors because we want to export the bottle. There has been a huge amount of interest in South Africa and beyond.”

De Vries said he had been so impressed with the bottle that he had marketed the product to other industries as well.

Polymers Petrochemicals renewability Recycling

Additives: Special Effects Liquid Colors for Packaging and Consumer Products

New special effects liquid colors, including metallics, pearlescents, super-brights, transparent tints, plus colors with non-synthetic liquid colorants are now available from Riverdale Global, Ashton, Penn.

The new extensive product launch is said to enable manufacturers of packaging and consumer products to enhance shelf appeal and add value while using lower let-downs of colorant than with pellet masterbatch.

The increased coloring efficiency of liquid color is attributable to a higher pigment loading per pound of colorant and enhanced dispersion as a result of the liquid carrier.

Like other liquid colors and additives from Riverdale Global, the new special-effect colors are each supplied in a container that stays sealed from the moment it arrives at the processor’s loading dock, through storage, handling, and metering into the process, and during return to Riverdale Global for replenishment.

Polymers Petrochemicals renewability Recycling

Sensient Imaging launches digital dye sublimation inks19

Sensient Imaging Technologies, a subsidiary of Sensient Technologies Corporation, has launched a new range of high performance digital dye sublimation inks for low-viscosity Epson printheads, ElvaJet Opal SB inks. Sensient Imaging Technologies is a leading supplier of inkjet inks for digital textile, industrial digital, and sublimation printing.

Following the extensive success of ElvaJet Opal SC inks for mid-viscosity printheads, ElvaJet Opal SB ink addresses the needs of low viscosity printheads, and allows customers of wide format printers to benefit from the revolutionary technology.

ElvaJet Opal SB ink fulfils the need for a plug and print solution in this market. ElvaJet Opal SB ink is also certified for Eco Passport for Oeko-Tex, epitomising Sensient’s commitment to sustainability and responsible use of chemicals in the supply chain, according to a media statement by the company.

Polymers Petrochemicals renewability Recycling

 Nigeria’s Economic Projections Buoyed As Oil Price Rises

The prospect of Nigeria’s economic projections on earnings from sales of crude oil for 2019 received a boost at the weekend as the price of the commodity rose above the $60 benchmark proposal used for the year’s budget.

The Federal Government had, late last month, presented a budget proposal based on the following assumptions of oil price benchmark of $60 per barrel and national oil production estimate of 2.3 million barrels per day, including condensates.

However, economic experts expressed worries as the price of the commodity nosedived in recent times posing a threat to achieving the earmarked target.

Polymers Petrochemicals renewability Recycling

The Two Major Factors Pushing Oil Prices Higher

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading higher on Friday, putting both markets in a position to close higher for the week. The markets are also in a position to change the trend to up on the daily chart after posting a nearly month-long countertrend rally.

Prices Rise on Trade Deal Hopes

The catalysts behind the rally are hope for a trade deal between the United States and China and adherence to the OPEC-led plan to cut production, trim the excess global supply and stabilize prices.

Polymers Petrochemicals renewability Recycling

Achieving a circular economy through packaging and packaging waste

2019 will be a crucial year for industries involved the packaging and waste management value chain. Introduced last year, the amended form of the EU’s Packaging and Packaging Waste Directive sets a target for obliged industries of ensuring that 65% of packaging waste is recycled by the year 2025, and 70% by 2030.

Reaching these targets will be complicated by inconsistencies in the way that member states track, measure and report the proportion of recycled waste, as well as by questions over the efficacy of deposit return schemes and the apportioning of incentives.

Another challenge comes in the form of the Single-Use Plastics Ban, confirmed in December last year. With the date for compliance set at 2021, the European Union will be the first of the world’s major economic blocs to eliminate the distribution of single-use plastics.

Polymers Petrochemicals renewability Recycling

Foreign investors to drive changes to green packaging: ReportBusiness

The reason plastic has become popular in such a short span of time for such FMCG and pharma players is the utility it offers and hence, alternatives will have to be found, he said.

Mumbai: Foreign investors pressure and the urge to outwit competition will drive Indian consumer goods and pharma companies to change product packing to more environmentally sustainable alternatives in two years, says a report.

The mandated changes in local laws like Maharashtra’s plastic ban have raised awareness in the few years and we can also look at a pressure from consumers in future, Bank of America Merrill Lynch said in a weekend report.

Polymers Petrochemicals renewability Recycling

Why Saudi tech startup ecosystem needs the government

With roughly two-thirds of its population below 30, Saudi Arabia is increasingly looking toward entrepreneurship as a tool for youth empowerment and a key to generating employment.

The focus has turned to entrepreneurship because the GCC countries, which depend on oil income, currently face stiff challenges in the wake of crude price volatility.

Entrepreneurship triggers economic development and contributes to the diversification of economies, spurring growth and job creation.

Naturally, entrepreneurs strive for innovation that drives competitiveness and business success.

http://www.arabnews.com/node/1438411

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