Petrochemicals

More News and Commentary

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 →

Thai company delays decision on $10 billion petrochemical complex in Ohio

The Columbus Dispatch: A Thailand company has again delayed its decision about whether to proceed with a massive petrochemical plant in eastern Ohio, raising more doubts about whether the project will proceed. PTT Global Chemical is conducting another feasibility study of the proposed plant in Belmont County, a review that will delay a final decision […]

November 18, 2020 Read More →
and

IEEFA: Ohio cancels permits for controversial Mountaineer storage facility

Powhatan Salt Company was to build mining wells for storing natural gas liquids (NGLs)

September 26, 2020 (IEEFA U.S.) ‒ The Ohio Department of Natural Resources announced it had cancelled permits for the Mountaineer storage project. The permits would have allowed Powhatan Salt Company to build solution mining wells for natural gas liquids (NGL) storage in Monroe County. The storage was intended to support a burgeoning petrochemicals industry in […]

and September 28, 2020 Read More →

IEEFA Energy Finance Conference 2020: Coal, LNG, petrochemical sectors face poor outlook and uphill battle for investors

Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic

Three major fossil fuel-based industries—coal, liquefied natural gas, and plastics—were becoming less financially attractive even before the global coronavirus pandemic, according to experts who spoke during the second week of IEEFA’s 2020 Energy Finance Conference. The annual meeting of international energy, finance and policy experts, which was offered online this year because of COVID-related restrictions, […]

July 24, 2020 Read More →

Pandemic, markets cast doubt on future of plastics megaprojects

Appalachian Voice: The economic prospects of a proposed Appalachian petrochemical complex, which would bring plastics manufacturing and petrochemical infrastructure to the region, appear increasingly unsure in the wake of the COVID-19 pandemic and a rapidly changing market. For the past decade, lawmakers and corporate interests have spoken in favor of a potential petrochemical hub in […]

July 21, 2020 Read More →

IEEFA Australia: Dubbo’s new renewables zone shows the path away from fossil fuels

Markets are telling us renewables are the best solution for a faster recovery

With the economy faltering during the COVID-19 pandemic and jobs in short supply, different solutions are being proposed to move the country into a sustainable economic recovery. To benefit all Australians, many of whom are struggling with job losses, health concerns and faltering businesses, projects considered for the way forward should fulfil two simple criteria: […]

IEEFA update: Problems mount for PTTGCA petrochemical plant

IEEFA update: Problems mount for PTTGCA petrochemical plant

Request for permit extension raises questions about true risks

New disclosures by Thailand-based PTT Global Chemical America (PTTGCA) regarding its proposed petrochemical plant planned for Belmont County, Ohio, illuminate the financial risks facing the project. Interested citizens, community advocates and elected leaders should understand these risks and the disturbing implications for the future of the community. PTTGCA has delayed this proposed petrochemical plant numerous […]