Petrochemicals

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Scientists: Binding global treaty needed to ban virgin plastic by 2040

The Guardian: A binding global treaty is needed to phase out the production of “virgin” or new plastic by 2040, scientists have said. The solution to the blight of plastic pollution in the oceans and on land would be a worldwide agreement on limits and controls, they say in a special report in the journal […]

July 6, 2021 Read More →

Sinopec launches construction of largest carbon capture plant in China

Reuters: China Petrochemical Corp, or Sinopec, said on Monday it started building a carbon capture, utilisation and storage (CCUS) project in east China, the largest of its kind in the country, as part of the refiner’s goal to be carbon-neutral by 2050. The Asian company has been planning to cap its carbon emissions at peak […]

July 6, 2021 Read More →

India’s Reliance lays out plans to invest $10B in clean energy

Reuters: Reliance Industries (RELI.NS), operator of the world’s biggest refining complex at Jamnagar in western India, will invest $10.1 billion in clean energy over three years in a pursuit to become a net carbon zero company by 2035. Reliance’s plan mirrors strategies of global oil majors such as Royal Dutch Shell Plc (RDSa.L) and BP […]

June 24, 2021 Read More →

Carmichael plans India plastics plant supplied by Australian coal

The Guardian: The owners of the controversial Carmichael mine in Queensland want to build a US$4bn plant in India that would use Australian coal to make plastic. Adani Enterprises, which owns the Carmichael coalmine, said in submissions to Indian authorities the plant will use 3.1m tonnes of coal a year at the plant to make […]

June 17, 2021 Read More →

Black day for Big Oil as courts, investors hand losses to Exxon and Shell

Wall Street Journal ($): Exxon Mobil Corp. and Royal Dutch Shell suffered significant defeats Wednesday as environmental groups and activist investors step up pressure on the oil industry to address concerns about climate change. In a first-of-its-kind ruling, a Dutch court found that Shell is partially responsible for climate change, and ordered the company to […]

May 27, 2021 Read More →

Activist investors hand historic defeat to ExxonMobil in proxy battle

Wall Street Journal ($): An activist investor won at least two seats on the board of Exxon Mobil Corp. XOM +0.65% , a historic defeat for the oil giant that will likely force it to alter its fossil-fuel focused strategy and more directly confront growing shareholder concerns about climate change. Exxon said Wednesday a preliminary […]

May 27, 2021 Read More →

Twenty companies produce more than half of world’s plastic waste

The Guardian: Twenty companies are responsible for producing more than half of all the single-use plastic waste in the world, fuelling the climate crisis and creating an environmental catastrophe, new research reveals. Among the global businesses responsible for 55% of the world’s plastic packaging waste are both state-owned and multinational corporations, including oil and gas […]

May 18, 2021 Read More →

IEEFA: CMD’s bag initiative raises questions for future of oil, gas and plastics industries

Plant-based polymer/LLDPE bags pose potentially big issues for petrochemical trends

May 13, 2021 (IEEFA)—In the world of plastics, sometimes one company’s story crystallizes the “life and times” of the industry. Plastics News, an industry weekly, recently covered the CMD Corporation’s efforts to publicize its latest plastic bag manufacturing innovation. The company’s initiative shines a light on industry trends and raises interesting questions for the future […]

Advocates claim new evidence suggests Formosa misrepresented permit information

E&E News ($): Advocates working in St. James Parish, La., are urging the parish council to reject a land use permit for a petrochemical facility based on new evidence. They argue that Formosa Plastics Group, which will operate the petrochemical complex, falsely claimed it would move a toxic facility farther away from a nearby church […]

May 13, 2021 Read More →

Middle East oil producers move to maximize oil assets amid grim revenue future

OilPrice.com: Within the last month, Saudi Arabia’s state oil giant Aramco has announced the sale of a minority—but large—stake in its pipeline business, the possibility to sell another 1 percent of its stock, and intentions to put up for sale stakes in some oil fields. Neighbor, ally, and fellow OPEC member UAE in the meantime, […]

May 12, 2021 Read More →