Petrochemicals Coronavirus CrudeOil rPlastic 22-04-2020
Petrochemicals Coronavirus CrudeOil rPlastic
Crude Oil Prices Trend
Faurecia’s (EPED.PA) first quarter sales fell by 13.5% due to the coronavirus crisis, the French car parts maker said on Monday, adding that it hoped for a full return to full capacity at its Chinese factories by May.
The company, which is 46% owned by French carmaker PSA (PEUP.PA), said its sales had fallen to 4.33 billion euros ($4.69 billion) and it expected the second quarter to be difficult in Europe and the United States.
Recycled polyethylene terephthalate (rPET) honeycomb is now commercially ready and available to license from EconCore. The company successfully conducted two years of research, learning how to optimally process the reusable resource-based polymer into its continuously produced honeycomb core. Petrochemicals Coronavirus CrudeOil rPlastic
rPET honeycomb sandwich panel outperforms PP honeycombs in terms of temperature and strength performance. Image courtesy of Econcore.
The benefit is a substantial fall in CO2, along with the already established CO2 reductions from the honeycomb technology in many transportation applications, due to the fuel and energy savings during the in-service use of lower weight products.
According to the ethanol trade group, The Renewable Fuels Association (RFA), 71 ethanol plants in the US are now idled with 71 significantly reducing operations to deal with the impact of the coronavirus as it destroys fuel and fuel ethanol demand.
The RFA also said that “US ethanol sales in 2020 could fall by more than $10bn and the industry’s contribution to gross domestic product (GDP) could drop by nearly one third,” in a statement. Petrochemicals Coronavirus CrudeOil rPlastic
US fuel ethanol prices continue to be pressured by a lack of demand and historically high inventories as most of the US remains on stay at home orders due to the coronavirus.
Why you can currently get paid thousands of dollars to pick up 1,000 barrels of oil in Cushing, Oklahoma.
A barrel of crude oil currently costs -$37.63 on the West Texas Intermediate futures market. Petrochemicals Coronavirus CrudeOil rPlastic
This means that, quite literally, you can get paid to take oil, which is a pretty shocking thing to be writing for someone who grew up paying $4 a gallon for gas, watched America go to war in the Middle East in part to secure oil, and has generally been taught that “the price of oil” is why everything costs so damn much.
COVID’s economic lockdown should be grasped as an opportunity to build a sustainable, environment-conscious capitalist model.
With a third of the world’s population in indefinite hibernation and with economies set to shrink by up to 30%, governments are beginning to focus on ending the lockdowns while continuing to suppress the infectiousness of COVID-19. What specifically caused the pandemic is unclear; its original pathogen is most probably inside a bat inside a pangolin in China, now currently lost among international blame-gaming conspiracy theories and political propaganda. Petrochemicals Coronavirus CrudeOil rPlastic
Opec member countries are meeting today in a conference call with Oman, Azerbaijan and Kazakhstan to discuss the oil market situation, Opec delegates told Argus.
Countries are discussing whether to bring forward the start date for production cuts, but no decisions will be made today, delegates said.
Russia was not present in the meeting. Petrochemicals Coronavirus CrudeOil rPlastic
Opec+ countries agreed on 12 April to reduce output by 9.7mn b/d for two months from 1 May, with most members cutting from an October 2018 baseline, in an effort to stabilise the market from the demand hit arising from the Covid-19 pandemic.
US benchmark Nymex WTI crude futures rose back into positive territory today while the second-month contract fell sharply, as concerns over rapidly filling US storage continued to stress the market.
The Nymex front-month May contract, which expires today, settled at $10.01/bl, up by $47.64/bl from its close at -$37.63/bl yesterday. Trading was extremely thin on the May contract. The much more heavily traded June contract tumbled by $8.86/bl to $11.57/bl.
Ice Brent June fell by $6.24/bl to $19.33/bl. The June Brent-June WTI spread was $7.76/bl. Petrochemicals Coronavirus CrudeOil rPlastic
The company will invest $1 billion over the next four years in recycling.
In its “2019 Annual Report,” Aloke Lohia, the group CEO of Indorama Ventures Public Co. Ltd. (IVL), Thailand, says the social and political pressure on single-use plastics “creates a tremendous opportunity for IVL to enlarge our recycling investments and create a positive impact on global circular economy initiatives.” He goes on to say that he has pledged to the Ellen MacArthur Foundation that the company will use 750,000 metric tons of recycled polyethylene terephthalate (rPET) content by 2025. Petrochemicals Coronavirus CrudeOil rPlastic
“It is important for our stakeholders to understand that this will not negatively affect our existing PET resin business,” which he says has grown by 1 million metric tons per year “and will continue growing together with the recycled material.”
Today, JanSport announced the upcoming launch of the Recycled SuperBreak, the brand’s first backpack made with 100% recycled fabric. The launch marks yet another milestone in JanSport’s quest to become a leader in sustainable backpack design and manufacturing. The new pack will be available beginning May 1. Petrochemicals Coronavirus CrudeOil rPlastic
The Recycled SuperBreak, each containing the equivalent of 20 plastic water bottles* worth of recycled plastic, uses 900 Denier Polyester CORDURA® eco fabrics, made of postconsumer waste such as plastic water and soda bottles.
Flexible packaging consumption in the West is expected to boom following stockpiling, lockdowns and the increased need for medical supplies as a result of the coronavirus pandemic.
US demand for consumer flexible packaging is forecast to grow by up to 10 per cent this year, compared with 3 per cent in 2019, according to market analyst firm Wood Mackenzie.
In Europe, demand growth fell back to under 1.5 per cent in 2019, but Wood Mackenzie anticipated it could climb above 5 per cent this year. Petrochemicals Coronavirus CrudeOil rPlastic
Petrochemicals Coronavirus CrudeOil rPlastic