Petrochemicals Crude Oil Flakes 10-04-2020
Petrochemicals Crude Oil Flakes
Crude Oil Prices Trend
OPEC+ cut will not be enough to avoid reaching full storage capacity unless countries outside OPEC+ also lower output
Crude oil prices were down during Good Friday’s thin trading following OPEC’s output curb decision on Thursday.
International benchmark Brent crude was at $31.82 per barrel at 0640 GMT on Friday, down 3.1% for the day after closing Thursday at $32.84 a barrel.
American benchmark West Texas Intermediate (WTI) was at $23.21 a barrel at the same time for a 7.5% decline after ending the previous day at $25.09 per barrel.
Coronavirus lockdowns could have a devastating impact on many important end use markets for chemicals, with a serious knock-on effect on important polymers such as polyethylene (PE) and polypropylene (PP), according to new demand scenarios developed by ICIS analysts.
With most countries in Europe and parts of the US already under severe restrictions, the manufacturing economy is collapsing, with automotive at a standstill, construction declining and other sectors under intense pressure.
ICIS Senior Analysts Ciaran Healy and Rhian O’Connor have modelled the impact of three coronavirus lockdown scenarios on important end uses for chemicals.
A research team from Tamil Nadu has come out with an affordable reusable mask with better filtration efficiency. Though the mask is thicker than the commercially-available single-use masks that are not biodegradable and may pose infection risk, it allows air to pass through the material while filtering. It can be washed and reused up to 20 times.
The reusable mask’s efficiency is higher than the pure spun-bonded non-woven masks and it has displayed 30 per cent filtration efficiency at 0.3 micron level and 80 per cent efficiency above 2 microns, according to S Subramanian from the department of textile technology, Alagappa College of Technology, Anna University. Petrochemicals Crude Oil Flakes
Polymer inventories in China have slipped slightly as the country gradually returns to work after the months-long Covid-19 lockdown.
Inventories held by key state-controlled producers Sinopec and PetroChina were 1.035mn t today, down by 100,000t from a week earlier. But stocks are still high compared with typical levels of around 700,000t.
Many parts of China are seeing a return to downstream polymer manufacturing. Convertors in eastern China are at 70-80pc operating rates, while those in northern China are at 65-75pc. Petrochemicals Crude Oil Flakes
Following several years of development with partner Siemens, Oerlikon Barmag kicked off serial production of its new drive unit for POY systems at the be-ginning of the year. The new component makes stands out above all with regards to energy efficiency.
e-save: innovative technology helps save energy
The requirements-specific design of the compact inverter unit ensures functional optimization of the winder’s control functions. And the new component is used in conjunction with a performance-optimized chuck motor. This means that energy savings of up to 3% can be achieved for the take-up. “In the case of a 1,000-position system, this represents a saving of around 120,000 euros a year, depending on the relevant local energy costs. The many years of collaborating with our partner Siemens means that we are always state-of-the-art in terms of control technology. Petrochemicals Crude Oil Flakes
Since 2011, the Auvergne company has been working on the biorecycling of plastic. It has developed a process for breaking down PET into monomers and then producing new bottles.
It represents one of the main French promises in the face of the plague of plastic pollution. Since its creation in 2011 by the Truffle Capital fund, the Auvergne company Carbios has been betting on the biochemical recycling of this ubiquitous material on the planet, using “biological scissors”: enzymes capable of breaking down various types of polymers into monomers. Its potential has just been recognized by Nature.Petrochemicals Crude Oil Flakes
The prestigious scientific journal publishes this Thursday an article describing the results achieved by one of the two industrial processes developed by Carbios: a technology intended to recycle endlessly PET, the resin used for plastic bottles, but also for d other food packaging and certain textiles. Co-signed by the scientists of the company and its academic partner Toulouse Biotechnology Institute (TBI), this publication represents an important international scientific consecration, which required six months of writing and nine months of validation, underlines the scientific director of Carbios, Alain Marty.
As Europe and the US prepare for upcoming legislation enforcing minimum recycled plastic contents and minimum recycling rates, join Platts experts as they discuss the current market situation and how well prepared the markets are to meet these tough targets.
Short term supply has taken a significant knock from the outbreak of coronavirus. Despite the waste and recycling industry’s essential public health role, several areas across the US have suspended curbside and drop-off recycling programs, creating a new wave of complications for the recycled plastics industry.Petrochemicals Crude Oil Flakes
Lost profits for automakers could exceed USD100 billion if they do not resume production in North America and Europe before the end of April, Interfax reports with reference to the Financial Times and calculations of AutoAnalysis research owner Jan Henry.
At the same time, losses in Europe can reach USD66 billion, in North America – about USD52 billion. According to Henry, for every additional week of production downtime the industry loses USD8 billion in Europe and up to USD7.5 billion in North America. His estimate is based on this year’s production forecasts, including the launch of new models, and demand expectations.Petrochemicals Crude Oil Flakes
Members of the Opec+ group are discussing a proposal to cut crude output by a combined 10mn-12mn b/d in May and June, according to Opec delegates.
The baseline for the Opec+ cuts is still being debated at an emergency online meeting. One option being discussed is to reduce production from an October 2018 baseline, according to two sources. Another source said Saudi Arabia and Russia could cut from an 11mn b/d baseline. Petrochemicals Crude Oil Flakes
Saudi Arabia produced 10.65mn b/d of crude in October 2018, Argus estimates, while Russia produced 10.63mn b/d.
Petrochemicals Crude Oil Flakes