Petrochemicals CircularEconomy Brexit PET 09-09-2020

Petrochemicals CircularEconomy Brexit PET

Crude Oil Prices Trend

Crude Oil Prices Trend

-Coca-Cola to use 100% R-PET in locally produced bottles in the Netherlands, Norway

Coca-Cola in western Europe will produce certain bottle types in the Netherland and Norway from 100% recycled polyethylene terephthalate (R-PET), beginning in October 2020, and reduce its use of virgin plastic derived from fossil fuels, the company announced on Monday.

In the Netherlands, all locally produced small bottles, including the Coca-Cola, Sprite and Fanta brands will be produced from 100% R-PET, with larger bottles to follow in 2021. This does not apply to the Coca-Cola/Fanta Orange 250ml bottles, Aquarius/ Minute Maid 330ml or Sprite 375ml, which are produced in France and Belgium.

Norway will transition to 100% R-PET for all locally produced bottles during the first half of 2021. The switch will not, however, apply to its Fuze Tea and Powerade brands.

Petrochemicals CircularEconomy Brexit PET

-India’s Reliance unveils details of oils-to-chemicals business carve out

Indian conglomerate Reliance Industries Ltd (RIL) released a detailed plan to carve out its oil-to-chemicals business into a separate entity for a potential stake sale, the company said in a filing on Sunday. Petrochemicals CircularEconomy Brexit PET

As per the scheme, RIL’s oil-to-chemicals (O2C) assets, including its refining, petrochemicals, fuel retail (majority interest only) and bulk wholesale marketing businesses, along with its assets and liabilities, will be transferred to a new unit.

The new unit will include the refining and petrochemical plants and manufacturing assets at RIL’s Jamnagar, Dahej, Hazira, Nagothane, Vadodara, Patalganga, Silvassa, Barabanki and Hosiarpur locations.

Petrochemicals CircularEconomy Brexit PET

-APK earns recognition for Newcycling process

German company honored for system designed to recycle flexible plastic packaging.

Merseburg, Germany-based APK AG says it has received an innovation award at eREC, an event that bills itself as a “digital recycling expo and conference for circular economy and waste management.” The Germany-based organizers of the event held online sessions from August 31 to Sept. 5, 2020. Petrochemicals CircularEconomy Brexit PET

“We thank the eREC organizers very much for acknowledging the game-changing contribution APK’s Newcycling technology delivers to high-quality recycling of complex, flexible plastics packaging waste streams,” says Klaus Wohnig, CEO of APK.

Petrochemicals CircularEconomy Brexit PET

-Global circular economy – how achievable is this in a pandemic and low crude oil environment?

Following the wave of outrage at the plastic pollution crisis aimed at parties from governments to the plastics industry, recycling has come to the fore as holding a significant role in creating a circular economy, assisting with improved waste management of plastics.Petrochemicals CircularEconomy Brexit PET

The rise of regulation and industries, namely FMCGs, commitment to sustainability goals saw a rise in recycling activity and this was set to grow in 2020. However, no one could have predicted the dramatic and sustained impact the coronavirus pandemic, the subsequent crash in crude oil prices, and demand drop-off would have on the world’s recycled polymer markets.

Petrochemicals CircularEconomy Brexit PET

-Nissan to bring carbon fiber-reinforced plastic to mainstream cars

Carbon fiber has been used in race cars and high-end road cars for decades, but the lightweight material is still considered too expensive for mainstream cars, though that may change soon.Petrochemicals CircularEconomy Brexit PET

Nissan is the latest automaker to attempt to mass produce the material, announcing Wednesday a new production process for carbon fiber-reinforced plastic (CFRP) parts.The new process can cut the lead time for development of new parts by half, and the cycle time for molding parts in production by about 80% compared to conventional methods, Nissan said.

Compared to other materials, carbon fiber is fairly labor intensive to work with. Most conventional production methods involve bonding sheets of the material together with resin, and then molding it into the proper shape. This has to be done largely by hand, and requires extra time for the resin to cure.

Petrochemicals CircularEconomy Brexit PET

-Lukoil selects Lummus PP technology for new plant in Russia

Lukoil (Moscow, Russia) has selected Lummus Technology’s Novolen polypropylene (PP) technology for a previously announced new petrochemical facility in Kstovo, Russia, said Chemweek.Petrochemicals CircularEconomy Brexit PET

Lummus says its Novolen business has been awarded a contract by the Russian oil company to supply the technology license for the 500,000 metric tons/year PP production unit, as well as basic design engineering, training and services, and catalyst supply. The PP technology license award is the first since Lummus became an independent company earlier this year, it says. The contract is the largest Novolen PP unit licensed in Russia to date, according to Lummus.

Russia is “a critical market where Lummus has had a strong presence for decades,” and where it will continue to expand, says Leon de Bruyn, president and CEO at Lummus Technology.

Lukoil selects Lummus PP technology for new plant in Russia

-Oil prices are collapsing after Saudi Arabia sends ominous signal

Demand fears are once again rippling through the oil patch.

US oil prices plummeted 9% Tuesday, their worst day since mid-May. Oil dropped to a low of $36.13 a barrel, the weakest level in nearly three months. Brent crude, the world benchmark, fell below $40 a barrel for the first time since late June.

The fierce selling in the energy market is being driven largely by rising concern about how much crude the fragile world economy needs. With Labor Day in the rearview mirror, summer driving season in the United States is over. Jet fuel demand remains extremely weak because many people don’t want to fly during the pandemic. And no one knows for sure how long it will take to recover. Petrochemicals CircularEconomy Brexit PET
“Demand is down. Supply is up,” said Robert Yawger, director of energy futures at Mizuho Securities. “The economic laws of survival are being violated on both ends of the spectrum.”
Oil prices are collapsing after Saudi Arabia sends ominous signal

-Alpek expects to recover $ 160 million after M&G Mexico restructuring agreement

Mexican petrochemical company Alpek announced on Friday the approval of a financial restructuring agreement between M&G Polímeros México and most of its creditors, which will allow it to recover $ 160 million in guaranteed debt.

Alpek, a unit of the Alfa conglomerate, said the agreement would conclude the bankruptcy process started last year by M&G Mexico and its creditors, among which are some of its petrochemical subsidiaries.Petrochemicals CircularEconomy Brexit PET

Alpek expects to recover $ 160 million after M&G Mexico restructuring agreement

-ETHYLENE PRICES EDGE HIGHER IN ASIA ON MONDAY

On Monday, despite bearish upstream crude and naphtha values, ethylene prices edged higher in Asia. Reports of tight regional product avails supported the price gain.

CFR North East Asia ethylene prices were assessed up at the USD 785/mt levels, a gain of USD 10/mt from last Friday’s assessed levels.

CFR South East Asia prices were higher at the USD 740/mt levels, a rise of USD 5/mt from last Friday. Petrochemicals CircularEconomy Brexit PET

In plant news, Formosa Petrochemical Corporation (FPCC), has shut its No.3 cracker on August 11, 2020, for a maintenance turnaround. The cracker is expected to remain off-line till end-September, 2020. Located at Mailiao in Taiwan, the No. 3 cracker has an ethylene production capacity of 1.2 million mt/year and propylene production capacity of 600,000 mt/year.

ETHYLENE PRICES EDGE HIGHER IN ASIA ON MONDAY

-‘I will NOT back down’: Boris Johnson defies EU fury at threat to ‘tear up’ Brexit divorce terms on Northern Ireland after Michel Barnier warns it would mean NO trade deal – but PM says that would still be a ‘good outcome’ for the UK

Boris Johnson says there is ‘no sense’ in faltering trade talks after October 15 – He says he won’t compromise on UK’s freedom to set own laws and fish in waters

Mr Johnson insists a No Deal departure would still be a ‘good outcome’ – The UK faces accusations of tearing up Withdrawal Agreement terms on NI

Michel Barnier warns fulfilling terms of the WA are a ‘precondition’ for trade deal

Boris Johnson vowed he will ‘not back down’ today despite Brexit trade talks being on the verge of collapse over his threat to rewrite the terms of the divorce deal.

The UK government is pushing through legislation that could effectively override the Withdrawal Agreement thrashed out at the end of last year.

'I will NOT back down': Boris Johnson defies EU fury at threat to 'tear up' Brexit divorce terms on Northern Ireland after Michel Barnier warns it would mean NO trade deal - but PM says that would still be a 'good outcome' for the UK

Petrochemicals CircularEconomy Brexit PET

Petrochemicals PlasticRecycling Brexit PET 08-09-2020