BEWI acquires UK based recycling company Volker Gruppe

MOSCOW (MRC) -- BEWI ASA has acquired 51% of Volker Gruppe, is a trader of compacted and recycled material. It operates two facilities in the UK and Scotland, where they compact material, and leases compactors to customers, said the company.

Volker Gruppe is one of the largest suppliers of EPS waste to BEWI Circular, with an annual collection of approximately 6,000 tonnes of EPS, in addition to several other types of waste streams, including LDPE, HDPE, WEEE, OCC and Paper. The company trades and processes around 25,000 tonnes of plastics and paper per year globally.

“This is a strategically important acquisition to us. Through Volker, we secure streams of collected material for recycling, bringing us closer to our target of becoming a circular company. It also provides us with a platform for further consolidation in the UK,” says Henrik Ekvall, Managing Director of BEWI Circular.

BEWI has a future option to acquire the remaining 49% of the shares in Volker Gruppe.

As per MRC, BEWI Synbra completed scheduled maintenance at its expanded polystyrene production facility in Porvoo (Porvoo, Finland). BEWI Synbra closed the plant consisting of two lines with a total capacity of 110,000 tonnes of EPS per year for scheduled repairs in early March. The renovation work was completed on 18 March.

According to the MRC's ScanPlast, the total estimated consumption of EPS in August increased by 15% compared to August last year and amounted to 11,650 tonnes. The total production volume of EPS for the reporting month amounted to 8,770 tonnes, a decrease in comparison with August last year amounted to 8%.

BEWI is an international provider of packaging, components, and insulation solutions. The company’s commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy. BEWI ASA is listed at the Oslo Bors under ticker BEWI.
MRC

MOSCOW (MRC) -- ExxonMobil has increased its participation in the proposed Acorn carbon capture project in Scotland by signing an Expression of Interest (EOI) to capture, transport and store CO2 from its Fife Ethylene Plant, said Hydrocarbonprocessing.

The EOI signed to study storing emissions from Fife Ethylene Plant adds to previously announced study focused on emissions from St Fergus gas terminals. The project would capture, transport and store CO2 in secure reservoirs beneath the North Sea.

The agreement to include the ethylene plant, located in Mossmorran, Scotland, is in addition to an earlier announced Memorandum of Understanding to capture and store emissions from gas terminals at the St Fergus complex at Peterhead, Scotland, which includes ExxonMobil’s joint venture gas terminal.

The initial phase of Acorn, which is bidding to be in the first wave of carbon capture clusters to be announced by the UK government, has the potential to deliver more than half of the country’s target of capturing and storing 10 MM metric tons per yr of CO2 by 2030. When expanded further, it will have the potential to store more than 20 MM metric tons per yr of CO2 by the mid-2030s.

“The application of carbon capture and storage technology at the Fife Ethylene Plant demonstrates our commitment to reducing CO2 emissions from the industrial sector,” said Joe Blommaert, president of ExxonMobil Low Carbon Solutions. “With the right government policies in place and industry collaboration, the carbon capture and storage opportunities we are evaluating, such as in Scotland, have the potential to move forward with current technologies for large-scale, game-changing emissions reductions."

The Acorn project recently announced plans to capture and store CO2 from the Grangemouth Refinery, and the addition of Mossmorran facilities will help Scotland reduce emissions in its industrial sector.

“The Acorn project has the potential to capture and store CO2 emissions from Scotland’s largest industrial center, which is an economic engine for the country,” said Martin Burrell, plant manager of the Fife Ethylene Plant. “This agreement allows us to explore the potential for significant emissions reduction through carbon capture and storage, and ensure Scotland continues to benefit from vital manufacturing facilities such as Fife."

The Fife Ethylene Plant recently completed a USD170 MM (GBP140 MM) investment program to upgrade key infrastructure and introduce new technologies that will significantly improve operational reliability and performance. A further project is underway to install an enclosed ground flare. On schedule to be operational by the end of 2022, the unit is designed to significantly reduce noise, light and vibration, and it is estimated the investment will reduce the use of the plant’s elevated flare by at least 98%.

These investments, together with ExxonMobil’s participation in the Acorn project, demonstrate a commitment to reducing emissions and to Fife’s future as a competitive asset.

We remind that, as MRC informed earlier, ExxonMobil and SABIC have announced that their joint venture, Gulf Coast Growth Ventures located near Corpus Christi, Texas, has reached mechanical completion of a monoethylene glycol (MEG) unit and two polyethylene (PE) units. Project startup is expected to begin ahead of schedule, likely in the fourth quarter of 2021.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.
MRC

MOSCOW (MRC) -- Shell plans to use pyrolysis oil derived from plastic waste in its crackers in Moerdijk, the Netherlands and Rheinland, Germany, said the company.

Pryme will supply Shell from its first plant located in Rotterdam, The Netherlands. Currently under construction, the plant is scheduled to become operational in 2022 and is forecast to convert 60,000 tonnes of plastic waste into pyrolysis oil annually.

Shell will use Pryme’s pyrolysis oil in its Moerdijk (The Netherlands) and Rheinland (Germany) crackers to make circular chemicals products.

The agreement also includes provision for future supply to be delivered from Pryme’s proposed second plant in the region. The proposed plant will have an estimated annual pyrolysis oil production capacity of 350,000 tonnes. Start-up for the second plant is planned for 2024.

Pryme also proposes to build a second plant in Rotterdam, which will have capacity of 350,000 tonnes and is planned to go online in 2024. Under the agreement, the second Pryme plant could also supply Shell with pyrolysis oil in the future.

“With increasing demand for circular chemicals from customers, our agreement with Pryme enables us to significantly grow volumes as early as next year,” said Thomas Casparie, SVP North West Europe, Shell Chemicals and Products.

Shell has committed to processing 1m tonnes/year of plastic waste for recycling by 2025.

As per MRC, Royal Dutch Shell has suspended scheduled repairs at a cracker on Pulau Bukom Island, Singapore due to measures to contain the spread of COVID-19. Shell has suspended repairs to its cracking unit due to staffing problems related to the tightening of measures to contain the spread of COVID-19 by the Singapore government. The original plan was to close the plant for about a week in the first half of October.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,176,860 tonnes in the first half of 2021, up by 5% year on year. Shipments of exclusively low density polyethylene (LDPE) decreased. At the same time, PP shipments to the Russian market were 727,160 tonnes in the first six months of 2021, up by 31% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased. Supply of statistical copolymers of propylene (PP random copolymers) subsided.

Royal Dutch Shell is an Anglo-Dutch oil and gas company headquartered in The Hague (Netherlands). Shell conducts geological exploration and production of oil and gas in more than 80 countries around the world. The company fully or partially owns more than 30 oil refineries. In addition, Shell owns a significant number of chemical plants, as well as the production of solar panels and other alternative energy sources.
MRC

MOSCOW (MRC) -- India is framing policies to promote the use of clean fuels, including electric vehicles (EVs), and tightening emission norms to meet its carbon reduction targets, transport minister Nitin Gadkari told the Reuters Impact conference.

India is the third-largest user of transport automobiles in the world but 70% of its transport energy need is fulfilled by importing fossil fuels."The aim is to gradually shift to fuels, which are import substitutes, cost effective, indigenous and pollution free," Gadkari said, adding that this includes biofuels, ethanol blends as well as hybrid EVs and hydrogen fuel cells.

The government will also stick firmly to its 2022 deadline for implementing tighter fuel efficiency norms also known as Corporate Average Fuel Efficiency (CAFE), Gadkari said, which could push automakers to adopt cleaner fuels to meet the new target.

"The government is firm on adhering to the CAFE regulation, where automakers are required to keep average CO2 emission less than 130 grams per kilometer till 2022 and below 120 grams per kilometer thereafter," he said. Many Indian automakers including India's largest carmaker Maruti Suzuki have sought delays for implementation of stricter emission rules.

India is targeting reducing carbon emissions by 33%-35% by 2030 as part of its commitment under the Paris Climate Agreement, Gadkari said, and it is looking at sustainable mobility and clean energy to achieve its goal. Gadkari's comments come ahead of UN Climate Change Conference (COP26) in November seen as a crucial chance to wring out ambitious enough commitments from governments to address global warming.

However, he said India expects new incentives towards climate funds for developing economies from rich nations, echoing similar comments by India's chief economic adviser last week.

Wealthy nations are under ever-greater pressure to deliver on an unmet pledge, made in 2009, to send USD100 billion a year to help finance an adequate response by developing countries to rising global temperatures as the world prepares for COP26.

The South Asian nation intends electric cars to make up 30% of total private car sales by 2030 and for electric motorcycles and scooters to make up 40% of total sales, Gadkari said.

The government will also soon make it mandatory for gasoline cars to have flexible fuel engines so they can also run on ethanol blends, Gadkari said, adding that India aims to achieve 20% ethanol-blending with gasoline by 2025 - five years ahead of its previous target. Flexible fuel vehicles (FFVs) can run on any blend of gasoline or ethanol.

As per MRC, Indian Oil Corp has approved plans to build a styrene monomer plant in India at its Panipat refinery. The planned investments in the new plant with a capacity of 387 thousand tons of styrene per year will amount to about 45 billion Indian rupees, and the project is expected to be commissioned by 2026-2027.

According to the MRC's ScanPlast, the total estimated consumption of EPS in August increased by 15% compared to August last year and amounted to 11,650 tonnes. The total production volume of EPS for the reporting month amounted to 8,770 tonnes, a decrease in comparison with August last year amounted to 8%.
MRC

MOSCOW (MRC) -- Petrobras has fulfilled the commitments it made in 2018 to the US and Brazilian governments that resolved an investigation into the Lava Jato corruption scandal, said the company.

As reported in a statement this Monday, Petrobras has fully completed its obligations under the agreement, for which it also collaborated with the Securities Market Commission (SEC).

In total, the Brazilian company has disbursed up to USD 853.2 million during the period of collaboration with the US authorities. Of this amount, 10% has been allocated to criminal fines, another 10% to civil fines for the SEC and another 80% to the Brazilian authorities.

The oil company has also pledged to continue improving its internal controls and compliance program, and has agreed to cooperate with US agencies, including by submitting annual reports to the Justice Department.

After finalizing the collaboration, the Department of Justice has recognized that Petrobras was the victim of a covert scheme of embezzlement by the Brazilian public authorities in the ‘Lava Jato’ operation.

“With the conclusion of the obligations provided for in the agreement, Petrobras closes an important stage in its recovery path. We have finally turned the page and the end of the agreement with the Department of Justice shows that we are living in new times, with our compliance systems ‘being strengthened day by day “, underlined the Director of Governance and Compliance, Salvador Dahan.

Under the deal, the US acknowledged that Petrobras was a victim of the Lava Jato scandal.

The scandal, called Lava Jato, or Car Wash, was a pay-to-play bribery scheme. Under it, Petrobras awarded inflated contracts. The excess money went to individual executives and politicians.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,176,860 tonnes in the first half of 2021, up by 5% year on year. Shipments of exclusively low density polyethylene (LDPE) decreased. At the same time, PP shipments to the Russian market were 727,160 tonnes in the first six months of 2021, up by 31% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased. Supply of statistical copolymers of propylene (PP random copolymers) subsided.

Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
MRC