Petrochemicals Biodegradable Naphtha 26-08-2019
Petrochemicals Biodegradable Naphtha
Crude Oil Prices Trend
Thai chemicals company Indorama Ventures is investing 33 billion Baht (EUR 1.35 billion) into the recycling of its PET resin, Reuters has reported.
Indorama creates polymers and fibres used to manufacture plastic bottles, seat belts and tyres. It produced almost five million tonnes of PET in the 12 months to July. The investment will support recycling efforts over the next five years, says chief executive Aloke Lohia.
The funds are meant to cover greenfield and brownfield mergers and acquisitions focusing on bottle-to-bottle recycling. Indorama currently has 11 recycling sites around the world, including plants in Thailand, Mexico and France.
ntertextile Shanghai Home Textiles, which is celebrating 25 years as Asia’s leading trade fair for the interior textiles industry, is all set to open on August 28. The four-day mega show will have around 1,150 exhibitors from 27 countries and regions who will display their latest products and technologies for the home and contract textiles sectors.
The 2018 edition had welcomed 39,730 trade buyers from 104 countries and regions.
“We are very optimistic about the business opportunities that will present themselves at the fair next week,” Wendy Wen, senior general manager of Messe Frankfurt (HK) explained.
Coca-Cola Australia has launched a campaign, from Ogilvy, to promote its new commitment to reduce plastic waste and packaging by making its bottles out of recycled plastic.
The ad shows a lady bird finding a Coca-Cola bottle lying on the ground just feet away from a recycling bin. After trying to shift the bottle alone, she enlists an army of ants to carry the bottle up a tree, and drop it into the bin.
PetroChina Guangdong Petrochemical Company will adopt advanced heavy oil processing technology from Honeywell UOP for its integrated petrochemical complex in China. The new facility will have an annual crude processing capacity of 20 million tons, helping to meet a national energy security strategy while transforming PetroChina Guangdong into a more fully integrated petrochemicals supplier. Honeywell UOP will provide a range of technology licenses, engineering design, key equipment, and state-of-the-art catalysts and adsorbents, operator training, technical services for startup and continuing operation.
China said on Friday it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand.
Beijing said crude would be among the U.S. products hit by tariffs of 5% as of Sept. 1. U.S. President Donald Trump responded later in the day saying starting on Oct. 1, the 25-percent tariffs on $250 billion worth of Chinese goods will rise to 30%. Tariffs on remaining $300 billion due to begin on Sept. 1 will now be set at 15%, versus 10%.
The U.S. could “drown the world in oil” over the next decade, which, according to Global Witness, would “spell disaster” for the world’s attempts to address climate change.
The U.S. is set to account for 61 percent of all new oil and gas production over the next decade. A recent report from this organization says that to avoid the worst effects of climate change, “we can’t afford to drill up any oil and gas from new fields anywhere in the world.” This, of course, would quickly cause a global deficit, as the world continues to consume around 100 million barrels per day (bpd) of oil.
At a meeting of the 20th High-Level Clearance Authority (HLCA), the Odisha state government has approved five projects with a cumulative investment proposal of ?2,04,069 crore.
A hydrocarbon processing complex in Subarnarekha by Haldia Petrochemicals Limited (HPL) and a petrochemical complex in Paradip by the Indian Oil Corporation Ltd (IOCL) are part of the 5 projects.
An Iranian-flagged oil tanker pursued by the United States amid heightened tensions between Tehran and Washington changed its listed destination to a port in Turkey after Greece said it wouldn’t risk its relations with America by aiding it.
The crew of the oil tanker Adrian Darya 1, formerly known as the Grace 1, on Aug. 24 updated its listed destination in its Automatic Identification System to Mersin, Turkey, a port city in the country’s south and home to an oil terminal.
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