PET Bottles -Goodbye to oil? OPEC puts the veto : greenhouse gas emissions isn’t so important! – In contrast to the global trend of phasing out petrol cars, Australia appears to be an outlier, exhibiting a persistent dependence on fossil fuel vehicles, according to recent data 11-12-2023
This week commenced with a surge in crude oil prices, building on the momentum from the previous Friday’s upswing
The catalyst for this uptick was the revelation that the U.S. federal government is in the process of acquiring up to 3 million barrels for the strategic petroleum reserve (SPR). In a series of transactions, the government has already secured 9 million barrels, initiating the SPR’s replenishment following the drawdown of over 180 million barrels last year to stabilize fuel prices.
Presently, prices are positioned favorably within the Department of Energy’s (DoE) parameters. However, the expectation of price escalation upon the DoE’s procurement announcement has materialized. Nevertheless, the West Texas Intermediate (WTI) remains comfortably below the DoE’s self-imposed upper limit of $79 per barrel.
Analysts, such as Tony Sycamore from IG, acknowledge the Biden Administration’s endeavor to replenish the SPR as a supportive factor. However, concerns persist regarding the extent of price gains, with another IG analyst, Yeap Jun Rong, pointing to lingering apprehensions about China’s demand.
The backdrop to these developments is a seven-week decline in crude oil prices, despite OPEC+ implementing additional, more substantial production cuts of 2.2 million barrels per day from January through at least the end of March. The failure of this intervention is attributed to trader perceptions of oversupply and the anticipation of a slowdown in China’s oil demand growth in the upcoming year. Concurrently, reports of record-breaking U.S. production further intensified concerns about oversupply, particularly in light of rather pessimistic demand projections for the coming year according to the International Energy Agency (IEA).
Crude Oil Prices Trend
1 Chinese Yuan = 0,14 United States Dollar
Polyester Feedstocks – ‘Biodegradable’ plastic bags failing in Beijing – Nylon filament and its feedstock isn’t strong
INEOS Aromatics to propose mothballing one of its PTA plants in Geel, Belgium
INEOS Aromatics has unveiled its proposal to mothball the smaller and older Purified Terephthalic Acid (PTA) unit at its integrated PX and PTA production facility in Geel, Belgium. The decision stems from the unit being offline since 2022, prompting a comprehensive evaluation of its long-term viability. Despite concerted efforts to enhance its competitiveness, challenging market conditions have reached a tipping point. Escalating energy, raw material, and labor costs have eroded the unit’s competitiveness in the European market compared to newer PTA and derivative capacity in Asia.
PTA, a crucial component for manufacturing polyester PET, finds widespread use in textiles, fabrics, food and beverage packaging, and various household and commercial items. The decision to mothball the unit underscores the difficulties faced by European production in the face of fierce competition from Asia. PET Bottles
The company will initiate a consultation process with employee representatives to address the impact on affected staff, exploring redeployment opportunities within other activities at the Geel site whenever feasible. Importantly, the larger and more efficient second PTA unit, along with the PX unit, will remain operational, ensuring no disruption for customers.
Steve Dossett, CEO of INEOS Aromatics, expressed gratitude for the dedicated efforts of the Geel site personnel and acknowledged the challenging circumstances leading to the decision.PET Bottles
He highlighted the substantial disadvantage faced by European PTA production due to high energy and operating costs, emphasizing the competitive advantage enjoyed by Asian exporters with access to discounted Russian hydrocarbons.
Turkey moves to counter rising tide of Chinese EV imports
In response to the escalating influx of Chinese electric vehicle (EV) imports, Turkey has initiated stringent measures, aligning with the European Union’s investigation into China’s EV subsidies, according to a report by Bloomberg. Recently, Turkey’s Trade Ministry issued a decree stipulating that companies engaged in EV imports must establish a network of at least 140 authorized service stations across the country, accompanied by the opening of a dedicated call center for each brand. PET Bottles
This move, perceived as targeting Chinese vehicles specifically, excludes imports from the European Union and nations with existing free-trade agreements with Turkey. Importers face an imminent deadline, until the end of the month, to comply with these demanding requirements, a daunting task for many.
This unexpected regulatory shift poses a setback for businesses involved in the sale of Chinese cars in Turkey, the sixth-largest auto market in Europe. Industry insiders, including Erol Şahin, CEO of automotive consultancy EBS, highlight the challenges, emphasizing that not a single brand is currently in compliance with the rigorous regulations. PET Bottles
The primary hurdle arises from the mandate that importers establish their own service stations, complicating relationships with authorized third-party services.
Turkey’s electric vehicle market has been on the rise, fueled by the affordability of Chinese brands, the success of the domestic car Togg, and the entrance of Tesla Inc. EV sales have surged nearly tenfold from the previous year, constituting 7.1% of all passenger car sales.
The new regulations aim to bring order to the rapidly growing EV industry in Turkey, creating a controlled environment. Despite concerns raised by industry players, an anonymous official in Ankara stated that there are no plans to revise the rules or delay their implementation. PET Bottles
China, as Turkey’s largest importer, has contributed significantly to the country’s trade deficit, reaching almost $100 billion by November. Passenger car imports, particularly EVs, have been a major contributor to this deficit. China sold $184 million worth of EVs to Turkey in the first ten months of the current year, nearly double the figure for the entire 2022. Earlier in the year, Turkey imposed an additional 40% customs duty on EV imports from China, bringing the total customs tax rate to 50%.
Goodbye to oil? OPEC puts the veto
Controversy following the latest document from the COP28 presidency released yesterday afternoon with a list of all the topics to be submitted to the ministers of the 197 countries participating in the Conference in the hope of finding convergence on a final agreement. In recent days, the head of OPEC in a letter had urged members of the oil cartel to reject any agreement in the climate negotiations underway in Dubai that would include the gradual elimination of fossil fuels. A veto that saw a firm reaction from environmentalists and other countries. PET Bottles
The Minister of the Environment and Energy Security Gilberto Pichetto defined the letter as “a move of pure party interest” and reiterated that “the COP must give a path which is that of decarbonisation which means overcoming the coal phase and subsequently the oil phase “. The French Energy Minister, Agnes Pannier-Runacher, said she was “stunned” and “angry” while the Spanish Minister for the Ecological Transition, Teresa Ribera, called the operation “disgusting”. ”
Meanwhile, vulnerable countries in particular are aiming for an ambitious agreement that leads to the abandonment of coal, oil and gas which according to science are at the origin of greenhouse gas emissions produced by human activity and which are responsible for global warming. PET Bottles
Emissions from major oil and gas projects in Gulf OPEC member countries will cause more than 43 million premature deaths in the region by the end of the century, according to researchers from the environmental network Lingo (Leave it in the ground).
In contrast to the global trend of phasing out petrol cars, Australia appears to be an outlier, exhibiting a persistent dependence on fossil fuel vehicles, according to recent data
As other countries commit to banning new petrol car sales, concerns are mounting about Australia’s ability to achieve its climate targets. A report from the federal department of climate change and energy unveils troubling projections, indicating that petrol and diesel vehicles are expected to constitute nearly half of all new car sales in the country by 2035.
This forecast poses a significant threat to Australia’s emission reduction goals, especially considering that transport pollution already accounts for 21% of the nation’s total emissions. PET Bottles
Cars and light commercial vehicles are identified as major contributors, highlighting the urgent need for transformative changes in the automotive industry. The adoption of electric cars is deemed crucial, with experts advocating for a doubling of current projections to align with emission reduction targets.
However, the report paints a grim picture, forecasting that electric vehicles will represent only 13% of new car sales by 2026, 26% by 2030, and 51% by 2035. Even more disheartening is the outlook for electric utes and vans, projected to comprise a mere 9% of new vehicle sales by 2030 and 29% in 2035. Lindsay Soutar from Greenpeace Australia Pacific emphasizes the need for policymakers to prioritize making electric vehicles more affordable and accessible, while Behyad Jafari, CEO of the Electric Vehicle Council, expresses deep concern over the sluggish transition, urging the swift implementation of a fuel-efficiency standard promised in the National Electric Vehicle Strategy.
Despite assurances from government officials, the timeline for implementing this crucial standard remains uncertain. PET Bottles
Jafari insists that without an emissions cap on new cars, Australians are missing out on overseas models and sufficient electric vehicles to meet demand. The pressure intensifies on the government to take decisive action to align with global trends and secure a sustainable, low-emission future for the nation.
Andritz has successfully initiated operations of a novel textile recycling line at the facility of Italian recycling specialist Sfilacciatura Negro in Biella, Italy
This state-of-the-art line is specifically engineered for processing post-consumer textile waste with an automatic removal system for rigid components, bolstering Sfilacciatura Negro’s foray into expanding recycling sectors. PET Bottles
Driven by the escalating demand for sustainable fibers within re-spinning and nonwoven industries, Sfilacciatura Negro Biella opted to enhance its recycling capabilities. Renowned for its expertise in recycling industrial textile waste, the company already manages two tearing lines. Capitalizing on its longstanding partnership with ANDRITZ, it now ventures into recycling post-consumer clothing waste.
Sfilacciatura Negro’s CEO, Tiziano Negro, underscores their circular approach, emphasizing the conversion of textile waste into new fibers that would otherwise contribute to landfills. Negro expresses confidence in ANDRITZ as the ideal collaborator, citing the company’s extensive experience in both textile recycling and nonwovens. PET Bottles
The cutting-edge recycling line supplied by Andritz is the culmination of a decade-long collaboration, involving trials, technical center assessments, and on-site visits to customer facilities in Spain and Portugal. The comprehensive line, from sorted waste bale feeding to recycled fiber baling, is designed for optimal efficiency, energy conservation, and automated removal of rigid elements. With a streamlined process requiring only one operator, the recycling line culminates in the production of film-wrapped and tied bales weighing up to 350 kg.
Australian-led study makes breakthrough in plastic recycling
A groundbreaking discovery in plastic recycling has been achieved by an Australian-led international research team, offering a promising solution to address the pervasive issue of plastic waste. The breakthrough, detailed in a recent publication led by the University of Adelaide with support from the Australian Research Council, focuses on the utilization of polyethylene (PE) waste as a crucial feedstock. PE plastics constitute a significant portion of global plastic waste, predominantly ending up in landfills.PET Bottles
The researchers harnessed the power of photocatalysis to convert PE waste into both a valuable feedstock and essential chemicals. Photocatalysis involves substances that expedite chemical reactions when exposed to light. The team successfully transformed PE waste into ethylene, a pivotal chemical feedstock applicable in the production of industrial and everyday items. Additionally, the process generated propionic acid, a versatile colorless liquid serving as an antimicrobial agent, preservative, and fungicide.
Shizhang Qiao, the study’s lead author and Director of the Centre for Materials in Energy and Catalysis at the University of Adelaide, emphasized the transformative potential of catalytic recycling for PE waste. The research not only highlights the viability of converting plastic waste into valuable resources but also underscores the importance of developing sustainable solutions for a circular economy. The collaborative effort involved experts from institutions such as the Wuhan Institute of Technology, University of Kent, and Heilongjiang University. PET Bottles
Recycled Marine-Waste – India generates 26,000 tonnes of plastic waste every dayIndia generates 26,000 tonnes of plastic waste every dayIndia generates 26,000 tonnes of plastic waste every day 09-12-2023