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    Home > Selected News of the Week (September 11-17, 2019)

    Selected News of the Week (September 11-17, 2019)

    Echemi 2019-09-17

    Europe chems stocks slide on Saudi attack jitters


    chemical-plants


    European chemicals stocks fell on Monday in line with wider markets as fears of sharp oil supply drops weighed on economic sentiment, following the attacks on Saudi Arabia’s core oil production infrastructure and potential military intervention. The country's energy major Saudi Aramco on Saturday confirmed drone attacks on its Abqaiq processing facility and at the Khurais oilfield, which halved the Kingdom’s oil production capacity and reduced global supply by 5%.


    Saudi drone attacks threaten around 10% of global ethylene capacity


    Abqaiq


    Facilities producing around 10% of global ethylene capacity are threatened by feedstock disruption after the weekend’s attack on Saudi Arabia’s oil distribution infrastructure and the subsequent closure of 5.7m bbl/day of refinery capacity. The attack on 14 September damaged the Abqaiq and Khurais crude oil processing installations which supply oil to Saudi Arabia’s three main petrochemical sites.


    Indian government announces hike in ethanol prices


    chemical-intermediates-business

     

    In a major boost to the sugar industry, which produces ethanol as a by-product, the Cabinet Committee on Economic Affairs (CCEA) approved higher price for the product derived from different raw materials under the Ethanol Blended Petrol (EBP) programme.

     Nayara Energy's Jamnagar refinery gets CISF security cover


    refinery


    An armed contingent of over 100 commandos from the Central Industrial Security Force (CISF), a paramilitary under the Union Home Ministry, has taken over counter-terror security duties at the country’s second largest single-site oil refinery in Gujarat’s coastal district of Jamnagar. The refinery in the Vadinagar area is owned Nayara Energy Ltd. (formerly Essar Oil). This is the tenth installation in the private sector of the country to get such an armed cover.


    Sumitomo Chemicals and Excel Crop Care to merge

    Sumitomo

    Agrochemicals maker Excel Crop Care Ltd. has said that its board has approved a plan that will see its present owner Sumitomo Chemicals India Pvt. Ltd. reverse merge with the company to become a listed entity.


    Indian government declares ocean energy as green power


    Banner_Ocean


    The Ministry of New and Renewable Energy (MNRE) has declared ocean energy as renewable energy. “The Ministry of New and Renewable Energy has clarified to all the stakeholders that energy produced using various forms of ocean energy such as tidal, wave, ocean thermal energy conversion among others shall be considered as renewable energy and shall be eligible for meeting the non-solar Renewable Purchase Obligations (RPO),” an official statement said.


    Bostik showcases innovative adhesive solutions at PackPlus IndiaBostik

    Bostik, adhesives specialist and subsidiary of French chemicals major, Arkema, recently showcased its products and technology for the packaging industry at the PackPlus India 2019, a leading exhibition on packaging, converting and supply chain industries.


    Imperatives & initiatives for revitalising Indian chemical industry


    India-chemical


    Industry representatives who bandied together under the umbrella of the Confederation of Indian Industry (CII) in New Delhi last month made a strong plea for government support to aid innovation, and for measures to boost investments in the sector. Concern was expressed over the rising imports of chemicals, but this time it was tempered with the need to keep the needs of consuming sectors in mind, and avoiding knee jerk reactions such as blanket increase in the level of import duties. Some of demands made on the government are legitimate, but it is not clear whether anyone is listening!


    Latin American economies affect PET markets


    PET


    The Latin American polyethylene terephthalate (PET) market is going through a trying time severely impacted by the regional economies and the global slowdown caused by the tariff war between the US and China. Uncertainties at the regional level stem from disagreements in political views that affect trade between the countries, and depressed economies that translate into inflation, higher interest rates and operating costs.


    LyondellBasell explores partnerships in chemical recycling of plastics


    LyondellBasell


    LyondellBasell is exploring partnerships in chemical recycling of plastics, along with developing its own technologies, its CEO said. “As a company, we are very focused on the issue of addressing plastic waste, whether it is through chemical or mechanical recycling. We have many initiatives under way,” said Bob Patel, CEO of LyondellBasell. The company is already undertaking mechanical recycling of polyethylene (PE) and polypropylene (PP) in Europe through its QCP (Quality Circular Polymers) joint venture with Suez.


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