Crude Oil Prices Climb 15-09-2021
Crude Oil Prices Climb
Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen.
Brent crude oil rose 39 cents, or 0.5%, to $73.99 a barrel by 0133 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 44 cents, or 0.5%, to $70.90 a barrel.
U.S. crude oil, gasoline and distillate stocks all fell last week, according to two market sources, citing American Petroleum Institute figures on Tuesday, after Hurricane Ida shut numerous refineries and offshore drilling production.
Crude stocks fell by 5.4 million barrels for the week ended on Sept. 10. Analysts on average had been expecting a drop of 3.5 million barrels.
“The impact of Hurricane Ida was a lot greater than many anticipated and production in the Gulf of Mexico region might struggle to return until Tropical Storm Nicholas is done punishing the region with torrential rain,” said Edward Moya, senior analyst at OANDA.
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- IrgaCycle™ improves the properties of mechanically recycled plastics for different target industries
- Novel plastic additive combinations for recyclers, compounders and converters
- Tailored to enhance the quality of post-consumer and post-industrial polyolefin material for re-use in rigid, flexible and molding applications
- Newest addition to VALERAS™, BASF’s brand for its plastic additives portfolio that enables customers to achieve their sustainability goals
BASF has launched IrgaCycle™, a new range of additive solutions to address the imminent needs in plastics recycling.
The plastics industry is seeking ways to incorporate higher content of recycled polymeric material in all major applications to meet sustainability goals, while facing growing consumer concerns and stricter regulatory requirements to reduce plastic waste. Hereby a major challenge is to mitigate quality deficiencies of polymers arising from thermal and mechanical stress during the recycling process.
Recycled plastics often contain impurities and polymer contaminants that accelerate polymer degradation, which change the material properties. Consequently, recyclers and plastic converters are facing quality and performance issues while processing recycled polymeric material. Formulated additive packages improving the properties of these recycled plastics can be a solution for this challenge.
‟The production of plastics from mechanical recycling is expected to almost triple by 2030, driven by improved technologies and regulation.
Report Ocean releases a new report about Global Polyethylene Terephthalate Glycol (PETG) Market analysis and insights, which aims to provide deep insight into numerous factors that are vital to the growth of this industry. Crude Oil Prices Climb
The information presented in this report will chart trends in the market, analyst opinions and views, competitive landscapes, and key regions from a systematic perspective.
A report on the Global Polyethylene Terephthalate Glycol (PETG) Market provides an analysis of the key trends in business and forecasts the future directions of the market. The SWOT analysis is used to assess the strengths and weaknesses of market participants, which includes strong players. The report discusses several factors, including key market drivers and challenges. It identifies significant market players, provides split analyses, and forecasts, among other features.
The idea of biodegradable plastics sounds good at first. However, very little is known about how they are degraded in the soil and how this is influenced by climate change. In two recent studies, soil ecologists at the Helmholtz Centre for Environmental Research (UFZ) have shown which microbial community is responsible for degradation, what role the climate plays in this process, and why biodegradable plastics could still be problematic.
Plastic that ends up in soils, oceans, or inland waters can harm the organisms living there and lead to serious and long-term disruptions in the ecosystems. The development and increased use of biodegradable plastics is therefore the focus of a more ecological economy. “But despite the positive image of biodegradable plastics, we still know very little about how they act in the soil or how they are degraded”, says Prof. François Buscot, soil ecologist at the UFZ. Crude Oil Prices Climb
Bio-Fed’s new M-Vera PLA compounds are targeted to cosmetics and food/non-food packaging
PLA-based biodegradable compounds for extrusion and thermoforming of cosmetics, food and non-food packaging have been added to the M-Vera line of compounds from German compounder Bio-Fed, a branch of Akro-Plastic GmbH. The three new M-Vera PLA compounds are certified OK compost Industrial (according to EN 13432), The renewable content in the polymer is from 50% up to nearly 100%, depending the M-Vera grade. Some grades are transparent.Crude Oil Prices Climb
With new grades GP4001, GP4003 and GP4005, the company says it has developed materials for rigid packaging solutions that are reportedly easy to extrude. The extruded sheets have been shown to be easily process by thermoforming due to their homogeneous wall thickness profile and they exhibit mechanical properties comparable to those of conventional plastics. If required, the bio-compounds from the M-Vera line can be processed in a multilayer structure in order to improve their mechanical, optical or barrier properties. Initial tests show that grade GP4001 is suitable for thermoformed coffee capsules.
Evonik’s new Vestamid LX9050 OR made with a halogen-fress flame retardant meets the requirements for classification V-0 of its flammability according to UL94.
A new nylon 12 compound has been added to the Vestamid line of nylon 12 compounds for insulating electrical conductors from Evonik. Crude Oil Prices Climb
By using halogen-free flame retardants in accordance with IEC 60754, Vestamid LX9050 OR meets the requirements for classification V-0 of its flammability according to UL94.
Busbars insulated with the new RAL 2003 signal orange colored material can be used at elevated operating temperatures up to 125 C/248 F.
In the future, busbars made of copper or aluminum in high-voltage batteries of electric or partially electric vehicles will require even safer protection against electrical breakdowns up to 1000 V voltage and above, and the associated risk of fire.
Braskem’s newest world class polypropylene (PP) production line in La Porte, Texas.
Philadelphia, Pa. – September 10, 2021 – Braskem (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) (“Company”), the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, announces the celebration of the successful one-year anniversary of commercial production at its newest world class polypropylene (PP) production line in La Porte, Texas.
Mark Nikolich, Braskem America CEO, commented, “Braskem’s first full year of commercial operations at our newest world class polypropylene line in La Porte, Texas, exceeded our expectations for quality and performance at a time in the industry when our clients needed us most. Crude Oil Prices Climb
Our decision to invest in North America’s largest polypropylene production facility reflects our commitment to our leadership position in the U.S. market and more importantly, enhancing our ability to meet the current and future needs of our clients. The enhanced production capabilities from this new facility proved critically important as the larger industry supply was negatively impacted by Winter Storm Uri.”
LG Chem Ltd. (Seoul, South Korea) announced that it entered a memorandum of understanding (MOU) related to the production of Eco-friendly Biodegradable Materials and business cooperation with TK Chemical, a subsidiary of the Samla Midas (SM) Group.
The MOU specifically deals with the production of biodegradable Poly Butylene Adipate-co-Terephthalate (PBAT). PBAT is a petroleum-based synthetic plastic that degrades quickly through the reaction with oxygen, heat, light, and enzymes in nature.
As an eco-friendly material that can decompose naturally within six months when buried underground, PBAT is applied in various materials such as agricultural vinyl, disposable envelopes and more. Crude Oil Prices Climb
The American company Footprint is opening an Eindhoven branch at the Brainport Industries Campus. This innovative company makes sustainable packaging as an alternative to disposable plastic.
Footprint operates worldwide and is starting up a research branch in Eindhoven, with an innovation centre and laboratory. Sustainable packaging is expected to be developed further there. The packaging materials are based on vegetable and degradable fibres as raw materials. Crude Oil Prices Climb
The European Union wants to ban many single-use plastics. They want to implement this to prevent unnecessarily large waste mountains and to ensure that fewer environmentally polluting plastics end up in nature. Going green is more essential in today’s world. A sustainable alternative is therefore desirable.
Tronox makes titanium dioxide pigment and other chemicals used to add brightness and durability to paints, plastics and paper
Private equity firm Apollo Global Management Inc has approached Tronox Holdings Plc, one of the world’s largest pigment manufacturers, with a $4.3 billion all-cash offer, people familiar with the matter said on Monday.
Apollo has offered $27 per share to buy Stamford, Connecticut-based Tronox, according to the sources, speaking on condition of anonymity. Tronox has hired advisers to consider the bid and has yet to decide on its next steps, the sources added.Crude Oil Prices Climb
Tronox shares were hovering around $20 on Monday morning, prior to Apollo’s offering being reported. The sources cautioned that there is no certainty that Tronox will agree to any deal. Apollo declined to comment.
Germany’s BASF is set to display sustainable PU systems, TPU, and E-TPU, and 3D printed moulds, functional coatings for the footwear industry at Simac 2021, from September 22-24, 2021, in hall 14, booth G 40, in Milan. Visitors will be given insights into sustainable footwear solutions, high performance materials and coating solutions for shoe soles. Crude Oil Prices Climb
Future-oriented footwear materials are inconceivable without sustainability. Sustainability is a main pillar of BASF’s strategy and an integral part of all business decisions. That is why BASF invests around two billion a year in research and development and drives the development of new products that make a significant contribution to sustainability. BASF’s approach to a circular economy in footwear consists of three fields of action; Reduce, Recycle, Rethink. At the show, BASF experts will give a deep insight into this approach and present sustainable material solutions for polyurethane systems and thermoplastic polyurethanes, the company said in a media statement.
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