Petrochemicals Crudeoil PET Flakes 14-09-2020

Petrochemicals Crudeoil PET Flakes

Petrochemical Compound PP Naphtha Trend

Petrochemicals Crudeoil PET Flakes

Crude Oil Prices Trend 

Crude Oil Prices Trend 

U.S. Says Libya Commander Haftar Will Allow Oil Sector to Reopen

A commander seeking to oust Libya’s United Nations-backed government will let the country’s oil industry re-open after an eight-month blockade that’s all but halted exports, according to U.S. diplomats. Petrochemicals Crudeoil PET Flakes

Khalifa Haftar gave his “personal commitment” to “allow the full reopening of the energy sector” by Sept. 12, the U.S. embassy in Tripoli, the capital, said in a statement the same day. He made the pledge via an exchange of letters between his self-styled Libyan National Army and the embassy.

By Sunday morning, however, Haftar and the LNA still hadn’t made any public statement about ending their blockade or allowing oil shipments to resume.

Petrochemicals Crudeoil PET Flakes

-OECD countries make partial progress updating rules on international shipping of plastic waste

OECD countries have agreed to update rules on the export of hazardous plastic waste for recycling in line with international changes so that advance consent from destination countries will be required ahead of shipping. Petrochemicals Crudeoil PET Flakes 

However, they did not reach consensus on updated arrangements for the export of non-hazardous plastic waste, which will go under review in 2024.

Therefore, all OECD countries will need to secure permission from destination countries before shipping hazardous plastic waste, there will be no OECD-specific controls on shipping non-hazardous plastic waste between member countries.

While each OECD country can decide what controls to apply to shipments of non-hazardous plastic waste, they have committed to inform the OECD Secretariat of their decisions. Non-hazardous plastic waste includes pure single-polymer and mixed plastic waste.

Petrochemicals Crudeoil PET Flakes

-New project acquisition for AMUT Group recycling technology

AMUT has been awarded a new tender project by a joint venture between two world-leading groups specialising in raw materials production and rigid packaging solutions.

The Italy-based group will contribute as a turnkey supplier to the project for sorting and recycling post-consumer PET and HDPE bottles. Petrochemicals Crudeoil PET Flakes 

The lines, which will be processing lightweight bottles with high percentages of PVC and non-PVC shrinkable sleeves, will feature a double De-Labeller configuration. In the first stage the AMUT patented De-Labeller performs a dry-cleaning action able to detach most of the shrink sleeve labels, while the second unit is a wet De-Labeller working as a cold pre-washer.

With a total capacity of 30,000 tonnes per year, the process will include a plant for sorting and recycling post-consumer PET bottles for the beverage industry. Another plant, with a capacity of 15,000 tonnes per year, will be dedicated to sorting and recycling post-consumer HDPE bottles for the flexible and rigid packaging industry.

Petrochemicals Crudeoil PET Flakes

-New legislation makes no deal Brexit more likely, industry must prepare

As the UK publishes new legislation which seeks to renege on important parts of the Brexit withdrawal agreement, the country’s chemical sector and its trading partners need to ramp up preparations for the rising prospect of a no deal exit from the EU on 31 December, 2020.  Petrochemicals Crudeoil PET Flakes 

No deal means WTO tariffs average 4.5%, maximum 6.5%

Lose access to EU free trade agreements (FTAs)

UK has rolled over 20 FTAs = less than 10% of total UK trade

Customs declarations set to rise from 55m to 300m/year

Rules of Origin could remap supply chains

On Wednesday the  Internal Market Bill was published which will allow the UK government to make unilateral changes to parts of the Brexit withdrawal agreement on customs controls in Northern Ireland. Ministers admit the bill breaks international law. It was published just as the latest round of EU27-UK Brexit negotiations got underway this week in London.

Petrochemicals Crudeoil PET Flakes

-Oleo Recycling launches national UCO collection service

Oleo Recycling, Europe’s leading cooking oil supply and recycling solutions provider, has announced the UK roll out of its fully-integrated collection and disposal service. From collection and treatment, to processing and recycling, the company will offer a start-to-finish solution for used cooking oils and fats.

Through its fleet of state-of-the-art collection vehicles, Oleo Recycling will deliver a comprehensive national service, arranged at a frequency to suit individual business requirements. Customers benefit from a hassle-free, hygienic process, specifically tailored to meet exacting service needs. Petrochemicals Crudeoil PET Flakes 

Working in partnership with sister companies ReFood and ecoMotion, every last drop of cooking oil collected will either be recycled to create renewable energy or used in the production of high-quality biodiesel. This not only keeps waste out of drains and sewers, but also delivers significant environmental and sustainability

Petrochemicals Crudeoil PET Flakes

-Braskem starts up new US Texas PP plant

Braskem has launched commercial production at its new polypropylene (PP) facility in La Porte, Texas, according to a Thursday press release.

The new plant can produce 450,000 tonnes/year of PP, including a broad range of products within the PP portfolio such as homopolymers, impact copolymers and random copolymers.

Construction at the site began in October 2017 and mechanical completion was achieved in June 2020. Petrochemicals Crudeoil PET Flakes 

Mark Nikolich, Braskem America CEO, stated, “The launch of commercial production at our new world class polypropylene production line in La Porte clearly affirms Braskem’s position as the North American polypropylene market leader. Our investment of $750m in the largest polypropylene production line in the Americas, and the first new polypropylene plant in North America since 2008, reflects our enduring commitment to meeting the needs of our clients today and for the long-term.”

“The startup of our new production line comes at a time when the North American polypropylene industry needs it most. The market has adapted to the COVID-19 pandemic and demand in North America has recovered to pre-COVID-19 levels. This demand, coupled with recent operating challenges in the industry, has created a situation where clients in North America need our support,” commented Alexandre Elias, vice president, Polypropylene North America.

Braskem starts up new US Texas PP plant

-Two new PP and PE plants in China achieved on-spec cargoes

Two newly constructed plants in China have achieved on specification polypropylene (PP) and polyethylene (PE) cargoes following a trial run throughout the month of August 2020, reported CommoPlast.

These companies are stabilizing rates, from which players are expecting more steady quantities in the near-term. Petrochemicals Crudeoil PET Flakes 

The first company, Liaoning Baolai Petrochemical Co Ltd (Bora Petrochemical) – a 50:50 joint venture between LyondellBasell and Baolai Group. The company has been offering off-grade PP and PE cargoes in August and the first on-spec parcels emerge this week. Bora Petrochemical owns two PP lines with a combined capacity of 600,000 tons/year, a 350,000 tons/year high density polyethylene (HDPE) unit and a 450,000 tons/year linear low density polyethylene (LLDPE) unit.

The second company, Zhongke Refinery and Petrochemical has also offered prime grade homo-PP cargoes this week after much struggling to stabilize the units in August. The two PP lines with a combined production capacity of 550,000 tons/year are slated to enter commercial production by the second half of September 2020.

wo new PP and PE plants in China achieved on-spec cargoes

-US PET supply to tighten amid strong demand, force majeure declarations

The polyethylene terephthalate (PET) is facing new challenges following damages at feedstock monoethylene glycol (MEG) plants. The damages resulted in a force majeure declaration by three MEG producers, which in turn led to a force majeure declaration by a PET producer. Petrochemicals Crudeoil PET Flakes 

Asia is being considered as a possible supplier of MEG until domestic plants resume operations. Local sources are hopeful that water and power at the affected plants in Louisiana may be restored in early October, but believe that the impact on PET availability will be significant. This has tightened supply as demand has remained robust.

Although resin imports from Latin American may offset part of the shortage, many believe that pellets prices are likely to increase.

Inquiries to Asian PET suppliers have shown an increase as prices in the region are low at $650-680/tonne FOB, but delivery would take weeks.

US PET supply to tighten amid strong demand, force majeure declarations

-After surviving through 60 years, OPEC confronts a precarious coronavirus oil future

  • 60th birthday party in Baghdad canceled due to virus
  • OPEC’s been declared dead many times, but lives on
  • But COVID-19 may permanently change the market

In a more “normal” 2020, OPEC would be gathering in Baghdad to celebrate the organization’s 60th birthday Sept. 14.

But, like many events in 2020, the coronavirus pandemic interfered.

The oil producing bloc that has managed to keep meeting through wars between its members was forced to cancel the festivities — an inauspicious omen, perhaps, as the infection may present OPEC’s biggest existential threat yet.

Global economies are struggling to adapt to the pandemic, with oil demand taking a potentially permanent hit. As well, many governments are seeing an opportunity to accelerate ambitious energy transition goals. Petrochemicals Crudeoil PET Flakes 

The 13 members of OPEC have teamed up with Russia and nine other allies to institute drastic production cuts, helping rescue prices from historic lows this spring to current levels of about $40/b. But beyond the current crisis, to thrive in the next decade, let alone survive another 60 years, OPEC will have to confront some painful realities.

“In times of crises like now, OPEC has proved that it is needed,” said Facts Global Energy analyst Fereidun Fesharaki, noting that the market crash this year prodded US President Donald Trump to broker the OPEC-Russia production cuts in a demonstration of the bloc’s importance.

After surviving through 60 years, OPEC confronts a precarious coronavirus oil future

-US DAK force majeure prompts unusual European PET exports, helps alleviate excess stocks

A force majeure declaration by US producer DAK Americas has propelled the European polyethylene terephthalate (PET) market on a new course as an exporter.

Traditionally an import region, Europe is responding to requests for thousands of tonnes to be sent to the US.

DAK Americas declared force majeure on PET earlier this week after Hurricane-related outages in US monoethylene glycol (MEG) restricted its supply of feedstock, according to sources. Petrochemicals Crudeoil PET Flakes 

“Already more than 10,000 tonnes have been done and there are more to come. It will clear out EU stocks!” a trader said.

Others concurred, with one producer saying it had sold “big volumes” at a higher price than what is achievable in Europe.

Spot prices in Europe moved down just as production costs looked like they were on the way up.

US DAK force majeure prompts unusual European PET exports, helps alleviate excess stocks

Petrochemicals Crudeoil PET Flakes

Petrochemicals Crudeoil Lignin PET 12-09-2020