Chemical recycling EV Cars – Can China and Türkiye Affect the Russia-Ukraine War? 16-08-2023

Chemical recycling EV Cars

Crude Oil Prices Trend 

Diplomatic Prospects Amidst Ruble’s Decline: Turkey and China’s Role in Ending the Conflict

In the midst of the tumultuous chaos of warfare, diplomatic endeavors persist, struggling to find a foothold amidst the barrage of bombs, missiles, and military strategies. The quest for a solution to the relentless war is fraught with complexities, a challenging yet crucial mission that seeks to bring an end to the harrowing conflict. This pursuit continues despite the awareness of both its architects and victims. Amidst the turmoil, the Vatican, represented by Cardinal Zuppi and the Pope, perseveres in its intricate web-spinning. However, two other players hold prominence at the negotiation table, offering a glimmer of potential despite the veils of ambiguity surrounding them: Turkey and China.

Ankara, in particular, is making calculated moves, endeavoring to push its influence and potentially orchestrating a landmark event. The impending visit of Vladimir Putin to Turkey signals a significant development. While discussions surrounding this visit are not novel, the present scenario accentuates their concreteness. If realized, it would mark a turning point, as Putin’s visit would be his first to a NATO member state since the commencement of the war. Chemical recycling EV Cars

The anticipation grows as Turkish leader Recep Tayyip Erdogan seeks to engage in talks with Putin by the end of August. The meeting hinges on two pivotal matters: the renewal of the wheat export agreement, a past demonstration of Turkey’s influential role, and the prospect of initiating talks with Ukraine. Erdogan’s goal extends beyond peace; it entails positioning Turkey as a potent and credible international interlocutor, yielding benefits on a broader scale. The significance of this rendezvous is augmented by Moscow’s historical reluctance to compromise.

China, too, deploys a strategic approach akin to Turkey’s in its bid to reshape perceptions and safeguard its interests, particularly in regard to Taiwan. President Xi Jinping’s diplomatic agenda balances the pursuit of a favorable global image while safeguarding its interests. Rather than overtly supporting its ally Russia, China advocates for peace, fostering a strategic and continuous dialogue. Evidencing the depth of commitment, China’s Defense Minister Li Shanfu’s presence at the Moscow Conference on international security reinforces the call for peace in Ukraine.

Amidst the multifaceted diplomatic maneuvers, a notable transformation in Moscow’s stance may be in the offing. Russia, grappling with an increasingly dire economic situation, finds itself ensnared in the precipitous decline of the ruble. A psychological threshold has been breached as the ruble tumbles beyond the mark of a hundred per dollar, resting at 101.01 rubles for a dollar and 110.73 rubles for a euro—a historical low. The implications are far-reaching, potentially compelling Russia to hike taxes on oil and gas to counterbalance the dwindling revenues, which starkly deviate from projections. The Russian central bank’s swift response through an urgent meeting underscores the severity of the currency’s collapse. Chemical recycling EV Cars

A Russia grappling with economic isolation amidst crisis may be more susceptible to pursuing dialogue, albeit through a rugged and meandering path.

In the intricate landscape of conflict resolution, the diplomatic pursuit for peace amid chaos assumes a paramount role. The Vatican’s web-weaving, Turkey’s calculated maneuvering, and China’s strategic engagement all contribute to a complex interplay of interests and agendas. As the ruble’s decline exacerbates Russia’s economic woes, a potential opening for dialogue emerges. The outcome, though uncertain, holds the promise of altering the trajectory of a conflict that has plagued nations and individuals alike. The road ahead remains uncertain, yet the persistence of diplomatic endeavors offers a glimmer of hope amidst the turmoil of war.

Paving the way for cheaper, less energy-intensive chemical recycling

U.S.-based scientists have developed a new method to replace steam crackers in upgrading pyrolysis oil obtained from waste plastics. They claim the process is lucrative and much less energy intensive.

Researchers at the University of Wisconsin-Madison in the United States have developed a new method to recycle waste plastics into high-value alcohols, carboxylic acids, and amines. They shared their findings in “Hydroformylation of pyrolysis oils to aldehydes and alcohols from polyolefin waste,” recently published in Science.

The team recovered olefins by pyrolysing post-consumer recycled (PCR) high-density polyethylene (HDPE), as well as virgin HDPE, virgin polypropylene (PP), and virgin low-density polyethylene (LDPE) as control cases. They then used the pyrolysis oil to produce aldehydes through a chemical process called homogenous hydroformylation catalysis. The process reportedly converted more than 90% of the olefins in the pyrolysis oil into aldehydes, which were then further reduced into high-value industrial alcohols used to make soaps and cleaners, for example. Chemical recycling EV Cars

The scientists claim that the new chemical recycling technique has the potential to be more lucrative and less energy intensive than current methods to upgrade pyrolysis oil, like steam cracking. Chemical recycling EV Cars

“Currently, companies [using steam cracking] don’t have a really good approach to upgrade the pyrolysis oil,” said author Houqian Li. “In this case, we can get high-value alcohols worth $1,200 to $6,000 per ton from waste plastics, which are only worth about $100 per ton. In addition, this process uses existing technology and techniques. It’s relatively easy to scale up.”

He believes that the recycling industry could soon adopt the new method. In a technoeconomic model and life cycle assessment of the process, the researchers showed that a chemical plant with 10,000 tons per year of production capacity could make an annual net profit of as much as $100 million by implementing the process, with a payback period of three years.

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European PVC Recycling Sees Modest 0.3% Increase in 2022

Amid ongoing efforts to enhance sustainability and combat plastic waste, the recycling rates for polyvinyl chloride (PVC) in Europe exhibited a marginal uptick of 0.3% in the year 2022. The figures indicate that Europe recycled approximately 813,266 tonnes of PVC waste across the EU-27, as well as in Norway, Switzerland, and the UK, according to a report by Amiplastics.

Throughout the preceding year of 2021, the continent had successfully recycled 810,775 tonnes of PVC waste, setting a precedent for the subsequent year’s recycling achievements. Noteworthy advancements were observed in distinct categories of PVC products. In particular, recycling rates for profiles underwent a commendable increase of around 15%, corresponding to a total of 408,000 tonnes. Similarly, the recycling of pipes and fittings saw a growth rate of 12%, contributing to a total recycled volume of approximately 50,000 tonnes during the course of 2022. Chemical recycling EV Cars

These incremental improvements serve as a testament to the steadfast commitment of the industry to bolster sustainable practices and resource management. With plastic pollution remaining a pressing global concern, the PVC sector is making strides toward mitigating its environmental impact. This gradual yet meaningful progress offers a glimpse into the potential of recycling initiatives, not only in Europe but also on a global scale.

To further intensify these sustainability endeavors, the organization has outlined ambitious recycling targets for the coming years. By 2025, they aspire to recycle a staggering 900,000 tonnes of PVC annually, a goal that represents a substantial increase from current recycling rates. Looking even further ahead, the organization envisions recycling 1 million tonnes of PVC per year by 2030. These targets underscore the industry’s unwavering dedication to advancing circular economy principles and fostering a greener future.

In tandem with these positive developments, it is pertinent to recall a significant event within the industry. Specifically, on July 12, Olin, a prominent PVC producer, halted operations at its unit with a capacity of 835,000 metric tons per year. This decision was attributed to equipment failures, as confirmed by Shintech, a leading U.S. PVC producer and chief customer of Olin. This setback followed a prior announcement in June, wherein Olin had communicated the restart of its vinyl chloride monomer (VCM) plant. However, the plant’s operations were constrained by reduced rates at that time.

These instances highlight the intricate challenges and considerations inherent in the PVC industry. While recycling rates exhibit modest yet consistent growth, disruptions and setbacks can occur due to a variety of factors, including technical issues and market dynamics. The industry’s response to such challenges will play a pivotal role in shaping its future trajectory. Chemical recycling EV Cars

In conclusion, the modest increase of 0.3% in European PVC recycling for the year 2022 signifies the industry’s dedication to sustainable practices, albeit with room for further advancement. The growth in recycling rates for profiles and pipes/fittings underscores the sector’s proactive engagement with environmental concerns. Ambitious recycling targets for the years ahead reflect a determined drive to achieve greater resource efficiency. Amid these developments, challenges such as operational disruptions remind us of the dynamic nature of the industry. As efforts to foster sustainability continue, the PVC sector’s resilience and adaptability will be critical in realizing a greener and more circular economy.

Saudi Aramco Commits to Full Oil Supply to Asia in September Despite Output Cut Extension

In a development that underscores Saudi Arabia’s commitment to its Asian oil customers, Saudi Aramco has reportedly assured North Asian customers that their crude oil requests for September will be met in full. This affirmation comes even as Saudi Arabia extends its unilateral voluntary production cut, according to several sources cited by Reuters.

As the world’s leading oil exporter, Saudi Arabia had previously announced an extension of its 1 million barrels-per-day (bpd) reduction in production for an additional month through September. The kingdom’s intention to potentially extend or deepen this cut beyond September was also disclosed. Chemical recycling EV Cars

In a statement on Monday, Saudi Aramco CEO Amin Nasser asserted that the company’s supplies to its customers remain at satisfactory levels. Notably, Chinese refiners did not seek reductions in supply volumes for September-loading cargoes, despite Saudi Aramco’s establishment of higher official selling prices (OSPs). This information was shared by three trading sources within the industry.

Insiders estimated that Chinese buyers are set to acquire between 50 million and 52 million barrels of Saudi crude, marking a significant increase from the roughly 38 million barrels secured in August. This substantial surge in demand signals China’s robust reliance on Saudi oil, even in the face of fluctuating prices and market conditions.

Over the past three months, certain Chinese refiners had expressed the desire for reduced supply from Saudi Aramco due to elevated oil prices. Consequently, they turned to alternative sources, primarily from the Americas and West Africa, to fulfill their procurement needs.

It’s important to recall that Saudi Arabia’s state-owned oil behemoth, Aramco (2222.SE), recently unveiled plans for an additional dividend amounting to nearly USD 10 billion. A significant portion of this dividend will be directed to the government. This marks the initiation of several supplementary dividends, which will be disbursed alongside the projected base dividend of USD 153 billion for the years 2022 and 2023.

Aramco is poised to initiate performance-linked dividends, with an initial payout of USD 9.87 billion slated for the third quarter.

This payout will be based on the company’s comprehensive performance for the year 2022 and the first half of 2023.Chemical recycling EV Cars

The reassurance from Saudi Aramco regarding the full supply of oil to Asia in September underscores the company’s dedication to its global customer base, particularly in the midst of extended production cuts. This commitment also mirrors Saudi Arabia’s position as a pivotal player in the international oil market, with its decisions significantly influencing global energy dynamics.

While the extension of the output reduction demonstrates Saudi Arabia’s intention to stabilize oil markets, its ability to ensure consistent supply is indicative of its prioritization of customer relationships and market share. The notable increase in crude procurement by Chinese buyers underscores the enduring demand for Saudi oil, even as alternative options are explored during periods of price volatility.

In conclusion, Saudi Aramco’s commitment to meet Asian oil demand in September, despite the extension of production cuts, highlights the delicate balance between production adjustments and ensuring customer satisfaction.

This dynamic landscape showcases the intricate interplay of market forces, geopolitical considerations, and strategic planning within the realm of global energy supply and demand. Chemical recycling EV Cars

The International Energy Agency (IEA) delivered a sobering projection on Friday, indicating a downward revision in the anticipated growth of oil demand for the upcoming year

This revised outlook comes in the wake of lackluster macroeconomic conditions, a faltering post-pandemic recovery, and the surging popularity of electric vehicles, as reported by Reuters.

For the year 2024, the IEA’s latest August monthly report predicts a deceleration in demand growth for oil, with an expected increase of merely 1 million barrels per day (bpd). This projection represents a notable reduction of 150,000 bpd from the agency’s earlier forecast, casting a shadow over the global oil market’s future trajectory.

The core factors contributing to this revision are multifaceted. The persistently lackluster macroeconomic landscape has cast doubt on the vigor of global economic expansion, thereby tempering the energy demand associated with economic activities. Moreover, the post-pandemic recovery, once a driving force for increased energy consumption, is now displaying signs of losing its initial momentum, further dampening the overall demand outlook for oil. Chemical recycling EV Cars

However, the most transformative factor exerting pressure on oil demand is the burgeoning utilization of electric vehicles (EVs). As these eco-friendly alternatives gain traction on the global stage, the traditional demand for oil is inevitably curtailed. With their enhanced efficiency and lower environmental impact, electric vehicles have not only captured consumer interest but have also led to an accelerating shift away from oil-dependent transportation systems. This trend is anticipated to gain even greater momentum, thereby contributing to the slower growth in oil demand forecasted for the near future.

The IEA’s projection for 2024 reflects a comprehensive reassessment of the intricate interplay between these factors. It also underscores the need for an adaptive approach within the oil industry, as market dynamics continue to evolve in response to both technological advancements and changing consumer preferences.

Amidst these projections and shifting market trends, it is imperative to acknowledge the impact of geopolitical developments. The context of Russian fuel exports serves as a pertinent example. Notably, a significant portion of Russia’s fuel exports originating from the Baltic and Black Sea regions has seen pricing surpass the limits imposed by a price cap set in February. This cap was established by a coalition led by G7 nations, with the intention of curbing Moscow’s revenues following its contentious invasion of Ukraine. The subsequent escalation in Russian fuel prices is particularly noteworthy in the context of a global scenario marked by escalating prices for fuels sourced from other origins. This trend is driven by a confluence of factors, including robust demand and constrained inventory levels on a global scale. Chemical recycling EV Cars

In conclusion, the International Energy Agency’s downward revision of oil demand growth projections for 2024 reflects a complex web of influences. The convergence of lackluster macroeconomic conditions, a waning post-pandemic recovery, and the ascendant prevalence of electric vehicles collectively shape a landscape where oil demand is expected to experience a significant deceleration. As the world navigates these transformative shifts in energy dynamics, the need for agility, adaptability, and a comprehensive understanding of these multifactorial forces is paramount for industry stakeholders. Furthermore, the intricate dance of geopolitics and market forces adds an additional layer of complexity to the evolving energy paradigm, as evidenced by the fluctuations in Russian fuel prices against the backdrop of global supply and demand dynamics.

BYD’s Withdrawal from Electric Car Production in India: A Contested Decision

The intricate landscape of international business has witnessed a surprising turn of events as Chinese conglomerate BYD finds itself at loggerheads with Indian authorities, leading to a likely abandonment of its ambitious investment plan within the country. While the departure of BYD from India appears imminent, some speculate that this could be a tactical maneuver rather than a definitive retreat. Chemical recycling EV Cars

In a global trend where numerous automakers are capitalizing on India’s advantages – including cost-effective labor and enticing government subsidies – to establish manufacturing hubs, BYD’s potential reversal of fortunes stands out. The conglomerate had initially unveiled a colossal development initiative in collaboration with local partner Megha Engineering and Infrastructures, projecting an investment of approximately 900 million euros into India’s burgeoning automotive sector. However, recent developments have thrown this plan into disarray.

The shift in BYD’s strategy can be traced back to reservations expressed by officials from multiple Indian ministries, including finance, regarding the Chinese company’s expansion blueprint. While BYD is yet to formally acknowledge this change, rumors circulating within the international media suggest that tensions escalated significantly between BYD and Indian authorities following this evaluation, to the extent that even Megha Engineering contemplated discontinuing its involvement in the project.

The absence of official statements from BYD leaves room for speculation, making these reports seem more like unofficial leaks rather than confirmed truths. Nevertheless, BYD’s established presence in India should not be overlooked; the automaker has been actively operating in the country for 16 years, playing a vital role in the electric vehicle (EV) market, particularly in electric cars and buses. Negotiations and behind-the-scenes efforts are reportedly underway to resolve the impasse, with the aim of kickstarting BYD’s anticipated production endeavors in India as early as 2025. Chemical recycling EV Cars

Delving into the larger context, the BYD-India saga raises questions about underlying dynamics between the two nations. China’s ascendant position on the global stage often evokes wariness and unease among various countries, India included. China’s rapid economic growth is often accompanied by apprehensions stemming from differences in work practices and the compatibility of its values with those of the West. However, it’s important to note that China’s approach to work is not fundamentally dissimilar to that of India’s; yet, the scale and implications of ventures of this magnitude are naturally bound to amplify any preexisting tensions.

The backdrop to this scenario can be traced back to India’s 2020 decision to bolster scrutiny over Chinese investments, leading to the cessation of projects perceived as overly ambitious and potentially impactful. An illustrative example is the suspension of Great Wall’s billion-dollar investment proposal a few years ago. This heightened vigilance underscores India’s cautious approach to managing foreign capital inflows, especially from countries that might have differing agendas or pose challenges to national interests.

The fate of BYD’s electric car aspirations in India hangs in the balance, awaiting the verdict of trade, industry, and foreign affairs ministries. The crux of this situation reflects a fundamental principle – that no entity, regardless of its financial prowess, can expect unbridled freedom in India’s business landscape.

The complexities involved in such ventures are not necessarily evident to Chinese conglomerates, as they might hail from countries where investment is more readily accepted without stringent conditions. Chemical recycling EV Cars

In conclusion, BYD’s potential withdrawal from electric car production in India paints a vivid picture of the intricate web of international business dynamics and geopolitics. As the two nations navigate this situation, the outcome will undoubtedly influence future interactions between China and India, while also underscoring the inherent complexities in cross-border investments, especially in countries with strategic sensitivities.

Carmakers Embark on Recycled Plastics Journey: A Focus on European Initiatives

In recent times, the automotive industry, particularly in Europe, has witnessed a remarkable upsurge in its fascination with recycled plastics. The industry is abuzz with activity as major car manufacturers and Tier 1 suppliers diligently collaborate with partners in the plastics recycling sector as an integral part of their sustainability agendas. Notably, automotive giants such as Audi and BMW, among others, are spearheading ambitious projects aimed at expanding the utilization of recycled plastics. This fervor is propelled by the European Commission’s visionary strategy, which entails incorporating 25% recycled plastics content within the framework of the revised EU End-of-Life Vehicles Directive. Chemical recycling EV Cars

The concerted drive towards integrating recycled plastics into the automotive sector’s operations underscores a significant paradigm shift in the industry’s approach to sustainability. This transformation is evident in the strategic partnerships being forged between automakers and players in the plastics recycling domain. These synergies reflect a commitment to not only embracing environmentally conscious practices but also to addressing the growing concern of plastic waste accumulation. By leveraging the expertise of recycling specialists, car manufacturers are poised to achieve a dual objective: advancing their environmental stewardship initiatives while simultaneously bolstering the circular economy’s principles.

Prominent names within the automotive realm, including Audi, BMW, and various European conglomerates, are taking substantial strides to propel the adoption of recycled plastics to new heights. The catalyst for this heightened fervor lies in the European Commission’s visionary ambitions. As the commission sets its sights on realizing a momentous target—incorporating 25% recycled plastics content—the impetus cascades through the automotive sector, spurring innovation and collaboration. This ambitious goal, embedded within the reimagined EU End-of-Life Vehicles Directive, illuminates a path towards a more sustainable future, one where discarded plastics find renewed purpose within the automotive supply chain.

Cognizant of the impending paradigm shift, leading automotive players are recalibrating their strategies to align with these eco-centric goals. Audi, known for its innovation and pioneering spirit, has embarked on multifaceted projects aimed at expanding the horizons of recycled plastics. The company’s resolute commitment is underscored by the European Commission’s transformative vision. Similarly, BMW, a stalwart in the automotive landscape, is steering its efforts towards recycling-driven initiatives, thereby cementing its position as an industry trailblazer in sustainability. Chemical recycling EV Cars

As the automotive sector journeys towards the realization of the European Commission’s recycled plastics content target, collaboration emerges as the cornerstone of progress. Partnerships between automakers and stakeholders within the plastics recycling ecosystem are emblematic of a collective determination to drive change. This alignment enables the fusion of technological innovation with environmental consciousness, yielding groundbreaking solutions that transcend the status quo.

Furthermore, in the realm of global economics and trade, the Plastics Industry Association (PLASTICS) has assumed a pivotal role. The association, cognizant of the far-reaching implications of the International Monetary Fund’s 2023 economic growth revision, has unveiled a comprehensive analysis authored by PLASTICS Chief Economist, Dr. Perc Pineda. This analysis intricately examines the reverberations of economic shifts on the global plastics trade. By delving into the intricate interplay between economic dynamics and the plastics industry, this analysis equips stakeholders with valuable insights that illuminate the path forward.

In summation, the automotive sector, particularly within Europe, is undergoing a remarkable transformation as it embraces recycled plastics as a linchpin of sustainability. The endeavors of industry titans like Audi and BMW underscore a resolute commitment to both environmental stewardship and technological innovation. The European Commission’s visionary target of integrating 25% recycled plastics content serves as a powerful catalyst, propelling the industry towards a future where circularity and environmental consciousness converge. As these initiatives unfurl, the collaborative ethos between automakers and recycling experts stands as a testament to the industry’s collective determination to drive positive change. Chemical recycling EV Cars

Moreover, on a global scale, the Plastics Industry Association’s insightful analysis navigates the complex intersection of economic growth and the plastics trade, illuminating the path for informed decision-making. The journey towards a sustainable automotive future, enriched by recycled plastics, has commenced, promising a landscape where environmental harmony harmonizes seamlessly with technological ingenuity.

Sustainable Bottle plastic waste – Plastic Is Not Toxic, So How Can It Be a Pollutant? 15-08-2023

Chemical recycling EV Cars