Petrochemicals Enzymes CrudeOil ACN
Crude Oil Prices Trend
Saudi Arabia will see its share of the market rise from the current level of 11.6% to around 15%: JP Morgan
Saudi Arabia’s strategy in the oil market has won a vote of confidence from the American investment bank JP Morgan, which predicts the Kingdom will “come out on top” in the global energy business. Petrochemicals Enzymes CrudeOil ACN
“Saudi Arabia will come out on top in the fight for market share as non-OPEC and US production fades,” JP Morgan analyst Chrystian Malek said in a report on the oil industry, which suggested that Saudi Arabia will see a large increase in its share of the international oil market as the American shale industry weakens and production declines from outside the Organization of Petroleum Exporting Countries (OPEC).
Millions of polyethylene terephthalate (PET) bottle sales are lost as mass gatherings across Europe are cancelled, flights are grounded, and tourism is displaced, but as society flickers back to life the industry holds onto a glimmer of hope.
“It is true that summer events are cancelled and international tourism is not expected to come back; Europeans will, however, stay home and after lockdown period want to ‘celebrate’ life,” a producer said.Petrochemicals Enzymes CrudeOil ACN
Despite the recommendation from the European Commission – the EU’s executive body – for member states within the visa-free Schengen area to lift border restrictions by 15 June, the Staycation may remain a priority over international holidays this summer.
One of the hidden costs of COVID-19 is a dramatic increase in single-use plastics – more plastic bags, more take-out containers, more disposable cutlery, and tons of PPE.
This increase may have temporarily been necessary, but our plastic waste is everywhere and is itself a global health issue. We know it is killing birds and fish, is in our bloodstream, and is even in the arctic ice. Petrochemicals Enzymes CrudeOil ACN
And plastics may be worse than we thought. According to a recent report by the Center for International Environmental Law, (CIEL), plastic production and disposal are a major driver of climate change.
It was too good to be true. Last weekend’s OPEC+ meeting took a decision in record time to extend deep output cuts that had halted a dramatic slide in prices — and members even agreed to abide by them. The timing was perfect. The deal would keep oil from flooding the market, allowing time for demand to recover as economies around the world fire back up after draconian coronavirus lockdowns.
Yet oil prices aren’t recovering as the bulls had hoped. Yes, there is a rebalancing of supply and demand in the offing, but consumption hasn’t picked up quite as much as they hoped it would by now. Petrochemicals Enzymes CrudeOil ACN
Shiva Texyarn, a textile company, has launched antiviral fabric treated with HeiQ Viroblock NPJ03, a treatment that was proven to deactivate most viruses including coronavirus in the shortest possible time, an innovation from the Swiss textile innovation leader HeiQ Materials AG and co-distributed with Taiwanese Specialty chemical major Jintex Corporation.Petrochemicals Enzymes CrudeOil ACN
Shiva Texyarn launches first of its kind antiviral fabrics in the Indian market.
“HeiQ Viroblock is a special combination of our advanced silver and vesicle technology that has been proven effective against the human coronavirus 229E with over 99.99 per cent reduction of virus. It is safe and non-toxic. A patent has been filed. We are pleased to launch this for the first time in India on PPE with Shiva Texyarn,” Carlo Centonze, CEO of HeiQ ,said in a press release.
OPEC and allies led by Russia agreed on Sunday to cut oil output by a file quantity — representing round 10 p.c of worldwide provide — to assist oil costs amid the coronavirus pandemic, and sources mentioned efficient cuts might quantity to as a lot as 20 p.c. Petrochemicals Enzymes CrudeOil ACN
Measures to gradual the unfold of the coronavirus have destroyed demand for gas and pushed down oil costs, straining budgets of oil producers and hammering the US shale trade, which is extra weak to low costs because of its larger prices.
The group, often called OPEC+, mentioned it had agreed to scale back output by 9.7 million barrels per day (bpd) for Could-June, after 4 days of marathon talks and following stress from US President Donald Trump to arrest the worth decline.
For the time being, the Organization of Petroleum Exporting Countries and its allies are relinquishing their share of the market in a bid to prop up crude prices, slashing millions of barrels of output as the pandemic crushes fuel demand.
Once the global oil market emerges from the coronavirus crisis, it may be greeted by a surprising change: greater dependence on crude from OPEC.
For the time being, the Organization of Petroleum Exporting Countries and its allies are relinquishing their share of the market in a bid to prop up crude prices, slashing millions of barrels of output as the pandemic crushes fuel demand.Petrochemicals Enzymes CrudeOil ACN
Ashish Khandelwal, executive director of Bareilly-based producer of edible oils, BL Agro, explains how it has disrupted the Indian market by venturing into rigid PET packaging and how it has further enhanced its bottle design by lightweighting them
Brand brief – BL Agro
BL Agro is a family-owned company founded in 1945. The company produces Bail Kolhu, a mustard oil, and Nourish, which is the brand name for its food products and its refined oil category such as sunflower, rice bran, and soya bean oil.
With eight facilities in the area around Bareilly in Uttar Pradesh, BL Agro runs one packaging unit and two refinery units, where it manages a range of packaging formats such as bottles of 200 millilitres, 500 millilitre and one litre in American boxes; two litres and five litres bottles in wrap-around blanks; 15 litres polyethylene terephthalate (PET) jars – altogether accounting for 140 different SKUs.
The company installed three lines of Sidel PET manufacturing machines between 2014 and 2019. Petrochemicals Enzymes CrudeOil ACN
The economic and oil crises could usher in a period of higher tensions between the US and China.Petrochemicals Enzymes CrudeOil ACN
The continuing COVID-19 crisis has complicated geopolitics in many different ways. The geopolitics of oil is one prominent example.
The economic misery enveloping the world, deepened by the crash in oil prices, has sharpened a split within the United States ruling elite. Those who support and fund President Donald Trump are aligned with domestic US energy companies that suddenly face a great risk from plummeting oil and gas demand. This abrupt market downturn has forced Whiting Petroleum to file for bankruptcy and there are already reports that Chesapeake Energy is preparing to do the same. Many others may follow.
Petrochemicals Enzymes CrudeOil ACN