Petrochemicals Polymers Enzymes Events 19-05-2020

Petrochemicals Polymers Enzymes Events

Crude Oil Prices Trend 

Crude Oil Prices Trend  Polyestertime

-Nova Chemicals and Enerkem Collaborate to Close Loop on Plastics Recycling

Two Canadian companies are collaborating to close the loop on recycling and further a circular plastics economy.

Nova Chemicals Corp., a producer of chemicals and plastic resins based in Calgary, and Enerkem Inc., a global waste-to-renewable fuels and chemicals producer with headquarters in Montréal, have entered into a joint development agreement to explore turning non-recyclable and non-compostable municipal waste into ethylene, a basic building block of plastics.

“This joint development agreement aims to address one of the primary gaps of the circular economy and efficiently produce ethylene from recycled plastic content,” said Sarah Marshall, Director of Sustainability, Nova Chemicals, in response to questions from PlasticsToday.

Petrochemicals Polymers Enzymes Events

-How India made corona test swab price cheaper by 90%

Reliance provided the raw material and Johnson & Johnson India provided pro bono scientific expertise

The two companies readily agreed to take the project on a mission mode with no commercial considerations

As COVID-19 pandemic spread quickly, India faced twin challenge – short supply of testing swabs and those imported from China at a steep price of ₹17 per stick were proving to be inferior. A solution was fixed in 10-days combining the expertise of Johnson & Johnson of manufacturing a similar product in earbuds, and Reliance Industries providing custom-made polyester staple fiber that resulted in the cost of swabs coming down to just ₹1.7 per unit. Petrochemicals Polymers Enzymes Events

Petrochemicals Polymers Enzymes Events

-The end of plastic bottles? Coca-Cola and Carlsberg back new all-plant drinks containers that will rot away to nothing within a year

Dutch biochemical company Avantium are developing a new plant-plastic

The material would form a protective, recyclable layer inside a cardboard bottle

Avantium hopes to have their new drinks containers on shelves by 2023

Drinks giants Coca-Cola and Carlsberg have backed a project aiming to replace drinks containers with an all-plant material that completely decomposes within one year.

The beverage companies see the future of their drinks packaging moving away from plastics and see the Plastic Bottle Project as a promising solution. Petrochemicals Polymers Enzymes Events

Petrochemicals Polymers Enzymes Events

-Jeju to Promote PET Bottle Recycling Project

Jeju Special Self-Governing Province signed an agreement with the Ministry of Environment, Jeju Province Development Corporation, Hyosung TNC, and Pleatsmama that regenerates discarded transparent plastic bottles into high-quality recycled products in order to promote the recycling of local resources.

This is a one-stop agreement between all the agents of the process, from the discharge of plastic bottles to the final consumer, in connection with the pilot transparent plastic bottle recycling project that has been in effect since March.

It will upcycle the discharged and collected bottles at recycling centers in Jeju to produce bags and clothes.  Petrochemicals Polymers Enzymes Events

Petrochemicals Polymers Enzymes Events

-Covid-19: US crude oil contract to expire soon due to negative pricing

The extent of the damage that the coronavirus pandemic had inflicted on the oil industry came into focus on April 20, when the US benchmark WTI contract plunged to minus $38 a barrel.

A month after sellers had to pay nearly $40 a barrel to get rid of US oil futures, the next watershed moment looms with the expiry of the June contract on Tuesday – and so far there is little sign of a repeat of the historic plunge.

The extent of the damage that the coronavirus pandemic had inflicted on the oil industry came into focus on April 20, when the US benchmark WTI contract plunged to minus $38 a barrel.  Petrochemicals Polymers Enzymes Events

-Covid-19: US crude oil contract to expire soon due to negative pricing

-Japan economy falls into recession; Q1 GDP contracts 3.4% year on year

Japan has slipped into a recession with another quarter of GDP contraction as the coronavirus pandemic continues wreaking havoc on the world’s third-biggest economy.

It posted an annualized GDP contraction of 3.4% in the first quarter of 2020, preliminary government data showed, following on from a revised steeper contraction of 7.3% in October-December 2019.

On a quarter-on-quarter seasonally adjusted basis, the decline was 0.9% from a 1.9% contraction in the December 2019 quarter, which was hit by a two-percentage point hike in consumption tax.  Petrochemicals Polymers Enzymes Events

Japan has declared a state of emergency in April this year to contain the spread of the deadly coronavirus outbreak, which started in China late last year.

Petrochemicals Polymers Enzymes Events

-US shale sector looks to recovery

Rising forward prices have led some US shale operators to consider slowly raising output again later this year, after steep shut-ins for May-June.

US production will have fallen by nearly 1.6mn b/d over the course of the second quarter, the EIA projects in its latest monthly Short-Term Energy Outlook (see graph). Developers have rapidly cut spending and idled rigs in the face of huge demand declines and a crude price collapse since March. Petrochemicals Polymers Enzymes Events

Many upstream independents have withdrawn their production guidance for this year because of the uncertain macroeconomic recovery outlook.

US shale sector looks to recovery

-Siegwerk and APK AG succeed at de-inking of plastic film-recyclate

Siegwerk, one of the world’s leading providers of printing inks for packaging applications and labels, and APK AG, a specialist in the production of high-quality plastic recyclate from packaging waste, successfully completed de-inking trials of twofold printed LDPE-films. The strategic cooperation of the two companies, which started in October 2019, contributes its first ground breaking insights to facilitating the efficient recycling of flexible packaging applications. Petrochemicals Polymers Enzymes Events

‘Design for recycling – ideally enabling product to product recycling – is crucial to closing the loop for flexible packaging. For Siegwerk this means providing innovative printing inks and lacquers, which facilitate high-quality recycling – for example by allowing easy de-inking while keeping full performance during the use phase‘, says Alina Marm, Head of Circular Economy Hub at Siegwerk.

Siegwerk and APK AG succeed at de-inking of plastic film-recyclate

-Octal Bolsters Oman’s Manufacturing Industry as It Expands Pet Resin Business

Continuing on its remarkable growth trajectory, OCTAL, the world’s leading supplier of clear rigid packaging materials, is enjoying impressive success in its PET resin business, reporting an increase of 500 new customers globally in the last three years.

Now a major supplier to most international brands, and with the highest market share in the Middle East / GCC Region, the Salalah-based manufacturer has quickly become a formidable force, continuing to position the Sultanate as a hub for the global PET industry.

“We are committed to creating long-term value for Oman that extends beyond diversification,” said Prashant Boloor, Senior Sales Director – PET Resin at OCTAL.

Petrochemicals Polymers Enzymes Events

Octal Bolsters Oman’s Manufacturing Industry as It Expands Pet Resin Business

Petrochemicals Polymers Enzymes Events

Petrochemicals Plastic Enzymes Events 18-05-2020

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