Petrochemicals Crude Oil Coronavirus 13-04-2020
Petrochemicals Crude Oil Coronavirus
Crude Oil Prices Trend
OPEC in a statement on Friday said that it has agreed with its allies (OPEC+) to temporarily cut production starting from 1 May.
OPEC and its allies will cut their overall crude oil production by 10m bbl/day starting on 1 May, for an initial period of two months.
The group met earlier on Thursday, with representatives from the 13 OPEC countries and the 10 allies, led by Russia.
The agreement would replace one that lapsed on 31 March, which allowed OPEC and its allies to produce oil without constraint.
OPEC in the statement said the deal was conditional on Mexico’s consent.
Scientists have discovered an enzyme that decomposes plastic bottles by 90%. From recycled material, you can again get high-quality plastic, Meduza reports.
Scientists from the University of Toulouse synthesized an enzyme that breaks down 90% of polyethylene terephthalate (PET). A new study is published in the journal Nature.
Now only 30% of PET plastic is recycled. Existing methods give low quality new material – it loses its strength in processing, therefore, it has only limited use. At the same time, PET is one of the most common types – it accounts for about 70 of the 360 million tons of plastic produced annually in the world. Petrochemicals Crude Oil Coronavirus
Graphene may be versatile, but there’s one thing it’s not all that good at – dispersing in water. Now, researchers at Umeå University have found a relatively simple way to do it. Graphene oxide is a different form of the material that can make for stable water dispersion, which can then be used as a kind of graphene paint.
Graphene is essentially a two-dimensional sheet of carbon atoms, arranged in a hexagonal pattern. This deceptively simple material has a range of useful properties – it’s incredibly lightweight, thin and flexible, but still strong.
It’s also an excellent conductor of electricity and heat, so it’s turning up in everything from electronics to water filters to clothing. Petrochemicals Crude Oil Coronavirus
The move came following a complaint submitted on November 7, 2019, by an association of Vietnamese manufacturers which accounts for nearly two thirds of domestic output.
According to the complaint, imports of PFY from the above-mentioned countries have increased sharply recently, which is the main cause of the significant losses in Vietnam’s PFY manufacturing industry.
Customs data showed PFY imports to Vietnam rose from 154,000 tonnes in 2017 to 185,000 tonnes in 2019. Petrochemicals Crude Oil Coronavirus
The total annual capacity of domestic PFY manufacturers is estimated at 350,000 tonnes, which is sufficient to meet domestic demand at around 270,000 tonnes a year.
The US ethanol market is facing two drastically different market scenarios, making it one of the more precarious of the markets that has been impacted by the coronavirus.
While the fuel ethanol market is seeing record inventory levels, low to almost non-existent margins, and weak demand, the industrial sector has seen demand reach unprecedented levels and supply is unable to keep up.
The volume of ethanol stocks was already at a record level even before the coronavirus demand destruction occurred, which means that margins had no wiggle room going into this.Petrochemicals Crude Oil Coronavirus
Coca-Cola European Partners is issuing precautionary advice for opening Coca-Cola Original Taste PET bottles because the bottles may have damaged neck rings.
This means that the bottle might have a sharp rim edge which could present a safety risk on opening. Petrochemicals Crude Oil Coronavirus
This would make it dangerous for anyone who tries to open the drink.
After Tomb Sweeping Day, direct-spun PSF price rallied to 5,800-6,000yuan/mt quickly. As crude oil and polyester feedstock turned volatile, the market was covered with heavier look-on atmosphere. Many participants thought direct-spun PSF would fall back again amid soft end-user demand, weak cost support and considerable cash flow.
However, after short stabilization, Sanfame offered direct-spun PSF 200yuan/mt higher, followed by Huaxicun and Huahong. The market was overshadowed by doubt: why are they so confident to revise prices up?
After crosscheck, the impetus mainly came from 2-3D coarse denier fibers.
2-3D coarse denier fibers are usually used for needle-punched nonwovens. The sudden improvement of the demand for this kind of fibers originated from ES fiber. Recently, ES fiber demand was explosive and the price soared high. Downstream hot-air nonwoven also experienced short supply with price rising continually, while the needle-punched nonwoven made of PSF with coarse denier was just appropriate to replace hot-air nonwoven. Petrochemicals Crude Oil Coronavirus
Business Planet heads to Austria to see how one large family firm is attempting to turn the problem of plastic pollution from packaging into a sustainable business opportunity.
Today’s modern economy would not function without plastic, but the waste it generates has created a public backlash because of concerns over its environmental impact. Innovative ways of producing, reusing and recycling plastic are therefore needed if we are to change our relationship with this essential material.
Putting the fantastic back into plastic
ALPLA is a major converter and recycler of plastics. A global leader, the Austrian company is committed to developing innovative sustainable packaging systems. One of its core products is a bottle made from so-called PET, (polyethylene terephthalate) already recycled plastic that can be used again and again.
A publicly traded firm founded as a “blank check” acquisition vehicle by a longtime tech investor says it’s in talks to merge with a polypropylene recycling company whose description is similar to that of chemical recycling firm PureCycle Technologies Inc.
The acquisition company, Graf Industrial Corp., is not identifying the target company, said Michael Dee, president and chief financial officer of the Houston-based firm. Petrochemicals Crude Oil Coronavirus
Petrochemicals Crude Oil Coronavirus