PTT Global Chemical to invest USD22 bln to achieve net zero carbon emissions by 2050

MOSCOW (MRC) -- Thai chemical firm, PTT Global Chemical Pcl (PTTGC) on Thursday said it plans to invest over USD22 bln in the next three decades to achieve net zero carbon emissions by 2050, reported Reuters.

"We will invest USD5 B to directly reduce greenhouse gases and USD17 B in restructuring the business," chief executive Kongkrapan Intarajang said at a news conference.

This will include efficiency improvements, energy storage, and carbon capture technology, he said.

New businesses in our portfolio will be low-carbon, like performance and speciality chemicals, he said, adding the company will grow around 4% over the next five to six years.

In July, it bought German coating resins maker Allnex for USD4.75 B, but the rate of carbon emission to growth came down because it was a low-carbon business.

This year PTTGC, a unit of the state-owned PTT Pcl, released about 8 MM tons of greenhouse gas (GHG) and CO2 equivalents and will reach a peak of 9.1 MM tons in 2025.

"There will be a 20% reduction of emissions in 2030 and net zero by 2050," said Kongkrapan.

We remind that, as MRC informed previously, PTTGC is in plans to undertake a brief shutdown for maintenance at its low density polyethylene (LDPE) plant in October, 2021. However, the exact dates of the turnaround were not given. Located at Map Ta Phut in Thailand, the LDPE plant has a production capacity of 345,000 mt/year.

According to MRC's ScanPlast report, August estimated LDPE consumption in Russia grew to 54,560 tonnes from 52,280 tonnes a month earlier. Russian producers raised their PE output, imports also increased. The estimated LDPE consumption was about 387,490 tonnes in the first eight months of 2021, up by only 3% year on year. The output remained at the previous year's level, whereas imports increased.

PTT Global Chemical is a leading player in the petrochemical industry and owns several petrochemical facilities with a combined capacity of 8.45 million tonnes a year.
MRC

MOSCOW (MRC) -- R&P POLYPLASTIC, the largest Russian manufacturer of thermoplastic composite materials, plans to expand its presence in Uzbekistan, the company said.

Thus, the company intends to expand its participation in automotive projects and increase the shipments of polymer compounds to the country by 5-6 times. The company is currently supplying compounds for exterior parts for a project of one of the world's leading automotive brands localized in Uzbekistan.

"Despite the fact that it is not easy to compete with the local manufacturers, we are seriously considering the possibility to significantly increase the volume of supplies and also to diversify the range of materials for automotive industry projects and the production of large household appliances in the near future," says Pavel Kruglov, General Director of Polyplastic Trading House, authorized commissioner of R&P POLYPLASTIC.

This summer the company's managers participated in a number of meetings with existing and potential partners, and summarized that the Uzbek markets of materials for the automotive industry and large household appliances are very promising. R&P POLYPLASTIC portfolio already includes approved brands of compounds for the manufacture of household appliances, as well as for exterior, interior and engine compartment parts for the leading automotive brands, which the company is ready to offer to manufacturers in Uzbekistan.

"Plastics processing in Central Asia is developing at a fairly high pace; there is a lot of interest in this industry. This is apparent also evaluating the standard of industry exhibitions like Plastex Uzbekistan 2021, which will take place on November 3-5 in Tashkent. Every year it becomes more interesting and significant. This fact tells us about only one thing, namely the interest in development of polymer industry in the country. And we, as leaders, should not miss the opportunity to gain a foothold in such a promising market," Pavel Kruglov notes.

Earlier it was reported that R@ POLYPLASTIC, the largest Russian manufacturer of thermoplastic composite materials, increased the volume of export of compounds for nine months by 1.5 times. In percentage terms, supplies of materials from the leading Russian compounder increased by 58% compared to the same period in 2020.

R@P NPP "POLYPLASTIC" also plans to modernize 50% of production lines by 2025 in terms of automation of the control system and traceability of production process data.

Research and Production Enterprise "POLYPLASTIC" specializes in the production of thermoplastic composite materials and polymer raw materials for processing by injection molding, injection molding and extrusion and occupies a leading position in the Russian market of compounds based on thermoplastics. The company is in the TOP-10 among European compounders. The total production capacity of the enterprise is more than 115 thousand tons per year.
MRC

MOSCOW (MRC) -- DuPont Clean Technologies (part of DuPont), a global leader in process technology licensing & engineering, has announced an additional global price increase of USD1.80/liter for its cesium MECS sulfuric acid catalyst products and USD0.30/liter for all other MECS sulfuric acid catalyst products, according to Hydrocarbonprocessing.

The company raised its prices for the state above products due to further supply chain cost and complexity increases.

Additional surcharges may apply for freight, near-term delivery and specialty product grades.

Subject to the terms of applicable contracts, the new pricing will take effect immediately.

As MRC reported previously, DuPont is investing USD400 million in the production capacity of Tyvek nonwoven fabric made from high density polyethylene (HDPE) at its site in Luxembourg. A new building and a third work line at the production site will be constructed. The launch of new facilities is scheduled for 2021.

According to MRC's ScanPlast report, August estimated HDPE consumption increased to 133,000 tonnes from 129,600 tonnes a month earlier. Domestic producers reduced their exports, whereas imports increased. Overall HDPE shipments to the Russian market totalled 934,080 tonnes in the first eight months of 2021, up by 10% year on year. Production grew by 10%, whereas imports fell by 23%.

The Clean Technologies division of DuPont is a global leader in process technology licensing & engineering, with an unwavering commitment to customer support. The company provide extensive global expertise across our portfolio of offerings in key applications - MECS sulfuric acid production, STRATCO alkylation, BELCO wet scrubbing and IsoTherming hydroprocessing. Offering critical process equipment, products, technology and services, The company enables an array of industrial markets, including phosphate fertilizer, non-ferrous metals, oil refining, petrochemicals and chemicals, to minimize their environmental impact and optimize productivity.

DuPont is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. The company's employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety.
MRC

MOSCOW (MRC) -- The introduction of contested taxes on plastic and sugary drinks has been postponed for a fifth time and will not now come into force until 2023, said Reuters.

Italy’s much-delayed EUR450/tonne Plastics Packaging Tax has been postponed until 2023. A press release from the Council of Ministers following their meeting to approve the ‘Budget planning document for 2022’ confirmed the tax will be postponed until 2023, along with a sugar tax.

The tax has been delayed several times – it was supposed to be implemented on 1 January 2022 according to several recyclers in the country – so this postponement will most likely not come as a surprise to the plastics industry.

The tax will be payable by packaging producers, with recycled plastics and compostable biodegradable plastics set to be exempt. According to local press, several industrial associations and trade unions in Italy, as well as political parties and ministers within the current government had been calling for a postponement or even cancellation of the tax.

A similar tax is expected to come into force in Spain in February 2022, while the UK will introduce a ?200/tonne Plastics Packaging Tax from April next year.

Earlier it was reported that the Italian government planned to introduce a tax on plastic packaging in the country in the amount of EUR450 per tonne in January 2022.
MRC

MOSCOW (MRC) -- Brazil's state-run oil company Petrobras, formally known as Petroleo Brasileiro SA, posted mixed production figures on Wednesday as the state-run oil company ramps up output at some major oilfields while also jettisoning a number of legacy production assets as part of a wider divestment drive, reported Reuters.

In a securities filing, Petroleo Brasileiro SA said it produced 2.83 MM barrels of oil equivalent per day in the third quarter, up 1.2% in quarterly terms, but down 4.1% from the same period last yr.

Crude production came in at 2.269 MM barrels per day (bpd), a 1.9% increase in quarterly terms and a 4% decrease from the third quarter of 2020.

Among the highlights of the quarter, the company said, was the entrance into operation of the Carioca, a type of massive offshore platform known as an FPSO, in the deepwater Sepia field. The firm also has begun commercially producing gas at its P-69 platform in the Tupi field, Petrobras said.

The company did not offer an explanation for the annual decrease in production. However, Petrobras production numbers have been hit by oilfield divestment in recent years, which have hurt output figures by taking production assets off the books. Maintenance and COVID-19 related stoppages also commonly affect production at Petrobras.

In terms of domestic sales, the company registered strong growth for multiple refined products in both quarterly and annual terms, indicating that an upswing in consumption has continued apace. That is despite high prices which have driven some politicians to question Petrobras' market-based pricing policy.

The company sold 441 MMbpd of gasoline domestically in the third quarter, up 14.3% in quarterly terms and 17.9% in annual terms. Domestic diesel sales came in at 867 MMbpd, up 6.4% from the previous quarter and 15.7% from the same quarter last yr.

As MRC informed before, Petrobras said earlier this monthit had halted talks with Brazilian conglomerate Ultrapar on the sale of the state-run oil company's Refap refinery, part of its program to sell eight plants. The company said it would relaunch the process of selling Refap in the future but did not provide a date.

We remind that in August 2021, Petrobras hired JPMorgan Chase & Co as an advisor to sell its stake in the petrochemical company Braskem SA.

We also remind that Braskem is no longer pursuing a petrochemical project, which would have included an ethane cracker, in West Virginia. And the company is seeking to sell the land that would have housed the cracker. The project, announced in 2013, had been on Braskem's back burner for several years.

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 1,638,370 tonnes in the first eight months of 2021, up by 10% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 989,570 tonnes in the first eight months of 2021, up by 30% year on year. Deliveries of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas shipments of injection moulding PP random copolymers decreased significantly.

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