ClosedLoop Recycling CrudeOil 17-06-2021

Crude Oil Prices Trend

ClosedLoop Recycling CrudeOil

-Borealis signs exclusive agreement to secure chemically recycled feedstock supply

Borealis and Renasci Oostende Recycling NV have signed a deal giving Borealis exclusive access to the chemically recycled output from Renasci’s advanced recycling plant at Oostened, in Belgium.

The plant has a projected output of 20kT/year, which Borealis will use to help fulfil market demand for chemically recycled polyolefins while at the same time transforming itself into one of the leading global suppliers of chemically recycled base chemicals and polyolefins.

The company is marketing its portfolio of materials based on chemically recycled feedstock under the name Borcycle C. “The cooperation with Renasci allows us to offer our customers and partners virgin-like polyolefins from chemically recycled post-consumer waste in material quantities effective this quarter,” said Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Innovation & Technology and Circular Economy Solutions.

Chemical recycling can serve as a complementary technology to mechanical recycling processes. Mixed and contaminated plastic waste streams that have traditionally been ‘unrecyclable’ can be transformed into a feedstock from which new materials with properties that are indistinguishable from virgin materials can be produced. High-end polyolefin-based applications become possible, including healthcare and food packaging materials subject to stringent quality and safety regulations that cannot always be met using mechanically recycled materials.

Borealis signs exclusive agreement to secure chemically recycled feedstock supply

-Closed-Loop Recycling Recaptures High-Value Food Packaging

Polypropylene (PP) is without a doubt one of the most popular and versatile polymers created. Its high rigidity-to-weight ratio, strength, transparency, and toughness enables it to be used across multiple industries from packaging to textiles and cars. Even the surgical masks the world is now wearing are made from PP.

Ironically, the polymer’s extreme versatility results in its absence from recycling streams. The fact that PP is used in so many applications such as pots, tubs, and trays and not predominantly in bottles like PET and HDPE is the reason it is barely recycled, even in developed countries. ClosedLoop Recycling CrudeOil 

To make matters worse, to date there is no food-grade recycled PP available for reuse into new packaging. Yet in the UK alone about 300,000 tonnes per annum (tpa) or 330,693 US tons yearly of PP is used in packaging, of which about 70% (210,000tpa/231,485 tons/year) is food-grade packaging.

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-European green hydrogen supply sufficient to meet demand in 2040: report

  • 2030 supply could be 450 TWh, 2,100 TWh in 2040
  • Europe to rely on imports in the short term
  • Pipeline costs 11-21 euro cent/kg per 1,000 km

European green hydrogen supply could be enough to meet the continent’s demand for the renewable gas by 2040, a new study from the European Hydrogen Backbone initiative said June 15. ClosedLoop Recycling CrudeOil 

The EHB report, “Analyzing future demand, supply, and transport of hydrogen,” found that the potential domestic European renewable and low-carbon hydrogen supply was “vast and exceeds what would be needed to meet projected European hydrogen demand in all sectors” and for a lower cost than conventional fossil fuel derived hydrogen plus the CO2 price.

ClosedLoop Recycling CrudeOil

-Vitol sees oil at $70-80/bl for rest of 2021

Oil prices in the $70-80/bl range for the rest of the year “is a reasonable place to set expectations”, trading firm Vitol’s chief executive Russell Hardy said today.

“There is probably a little bit more upside,” he told the FT Commodities Global Summit. “The next few months will be interesting. We have got Opec kind of holding their card close to their chest at the moment, waiting for the Iranian news to come. We could have something relatively soon.”  ClosedLoop Recycling CrudeOil 

A breakthrough in Iran’s negotiations with the US to revive the 2015 nuclear deal will pave the way for sanctions on Tehran’s crude exports to be lifted and this will be a key consideration for the Opec+ group as it assesses output policy beyond next month.

Vitol sees oil at $70-80/bl for rest of 2021

-Is it fair to blame plastic for the pollution problems facing our planet?

Plastic waste, recycling, and export are topics which have long taken centre stage in the headlines, but is it really fair to blame this commodity for the pollution problems facing our planet?  ClosedLoop Recycling CrudeOil 

Positive news about plastics is rare

When looking at the news, it is rare to see a positive news story about plastic – or one which is talking about the benefits of this material. Instead, more often than not, it is highlighting horrific pollution issue it is causing across our lands and oceans – but what about showing the real culprit of this environmental contamination?

In reality, emphasizing the pollution issue is not the problem – as consumers, people should have visibility over what is happening in the world. But equally, they should also be aware of their role within this, and how their choices, actions, and attitudes contribute to the end result.

Plastic, in the simplest sense, is manufactured for a purpose – whether that be to transport goods, keep food fresh, manufacture a wide range of products, including personal protective equipment – and it is then in the hands of humans as to the destination and indeed how long its lifespan is.

Is it fair to blame plastic for the pollution problems facing our planet?

-Omani plastics packaging manufacturer ships its products to over 75 countries

According to Bloomberg citing people familiar with the matter, Octal, an Omani plastics packaging manufacturer, is considering a majority stake sale.

The people further stated that a sale could put Octal at about USD800 million. The company is working with JPMorgan Chase & Co.

They further declared that the Muscat-based company attracted strategic suitors in Asia and the US.  ClosedLoop Recycling CrudeOil 

Octal website declared that it was founded in 2006 and produces plastic used to package food and consumer products. The company is present in Oman, Saudi Arabia and the US and ships its products to over 75 countries.

Omani plastics packaging manufacturer ships its products to over 75 countries

-Duo invests in conversion equipment to boost sustainability

UK-based packaging firm Duo has completed its second investment in less than a year to support sustainable innovation.  ClosedLoop Recycling CrudeOil 

The company has pumped £700,000 ($988,000) into its Manchester headquarters, which follows a £1.85 million ($2.6m) investment into new equipment and the expansion of facilities in 2020. The latest round of investment is going to new conversion equipment and improvements in the company’s print department to help customers boost the environmental performance of their packaging.

The company is working closely with customers to further improve packaging sustainability ahead of the introduction of next year’s UK plastics packaging tax. From April 2022, a new levy will be applied to companies using plastics packaging containing less than 30 per cent recycled content.

So far this year, Duo claims to have already helped around two thirds of its customers to adapt packaging to include at least 30 per cent recycled plastics, and more than 50 per cent of the products it has produced contain more than 30 per cent recycled content.

Duo invests in conversion equipment to boost sustainability

-Produce Packaging switches to 100 per cent rPET soft fruit containers

Thermoformer Waddington Europe has teamed up with UK distributor Produce Packaging to develop 100 per cent recycled and recyclable soft fruit containers.

Made with Waddington’s Eco Blend 100 material, Produce Packaging’s new containers consist entirely of a combination of post-consumer (PCR) and post-industrial (PIR) rPET.  ClosedLoop Recycling CrudeOil 

The containers will be available to all Produce Packaging customers, including growers, packers and importers that supply major retail outlets. Waddington said the switch to Eco Blend 100 reflected the decision by Produce Packaging to focus increasingly on packaging that is environmentally sustainable.

Produce Packaging’s plastics fruit containers already had contained a minimum of 80 per cent recycled content. However, the company was keen to make the switch to 100 per cent rPET, as it believed it is the “most viable, future-proof option” for customers, said Produce Packaging managing director Mark Tierney.

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-Recycled Food-Grade Polypropylene Ready for Primetime

Favorable life-cycle data and backing by Greiner Packaging UK, Unilever, and other companies support the next step in commercializing food-grade rPP.

Signing up our milestone 30th participant for NextLOOPP is an ideal opportunity to share the initial findings from the preliminary Life Cycle Assessment review of the process.  ClosedLoop Recycling CrudeOil 

In short, this technology results in recycling food-grade polypropylene (PP) into food-grade rPP.

Using Nextek’s two core technologies, and PPristine for decontamination, an assessment that focused on the greenhouse gas (GHG) savings was conducted by the Natural Resources Institute at London’s University of Greenwich. PolyPRISM is the development of invisible UV-fluorescent markers used on the labels that, once placed on food-grade packaging, can be used to sort food from non-food packaging. PPristine is a two-stage process to decontaminate PP in the melt and solid state to remove any residual chemicals. The current data relating to the manufacture of virgin PP indicates GHG emissions of 2,000 to 3,000kg per tonne of polymer produced.

By contrast, the mechanical recycling process of the Nextek technologies saves up to 80% of virgin PP production emissions; in fact, early estimations are 324kg CO2 per tonne of food-grade recycled PP (FGrPP). This is broken down as 35.0kg from transport, 81.5kg from the sorting and washing process, and 207.5kg from the extrusion and decontamination stage.

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-Oil could reach $100/bl on supply concerns: Trafigura

Underinvestment in oil supply could result in oil prices reaching $100/bl before demand peaks, trading firm Trafigura’s chief executive Jeremy Weir said today.

“The supply situation is getting quite concerning,” he told the FT Commodities Global Summit. “We have gone from 15 years of reserves down to 10 years of reserves. And we are seeing capital expenditure on oil go from north of $400bn/yr 5-6 years ago to just over $100bn/yr,” Weir said. These supply-side concerns will “probably drive prices higher”, he said.  ClosedLoop Recycling CrudeOil 

Despite the energy transition, Trafigura thinks “oil is going to be around for quite a long time”, Weir said, pointing out that global demand was still around 80mn b/d during the peak of the Covid-19 crisis.

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