Marathon sets 2030 target to cut absolute Scope 3 greenhouse gas emissions

MOSCOW (MRC) -- Marathon Petroleum Corp. has established a 2030 target to reduce absolute Scope 3 – Category 11 greenhouse gas (GHG) emissions by 15% below 2019 levels, according to CISION.

The new Scope 3 target further enhances MPC's GHG disclosures, which include reporting aligned with the Task Force on Climate-related Financial Disclosures (since 2017), Scope 1 and 2 GHG emissions intensity target (since 2020), methane emissions intensity target (since 2020), third-party verification of Scope 1 and 2 GHG emissions (since 2020), CDP long-form disclosure (since 2021), Scope 3 disclosure (since 2021), and third-party verification of Scope 3 emissions (since 2021).

"Our Scope 3 reduction target is part of our commitment to continuously improve our environmental performance while meeting society's energy needs sustainably," said MPC President and Chief Executive Officer Michael J. Hennigan. "As the energy industry evolves, we are positioning ourselves to continue delivering positive results in an energy-diverse future."

MPC's Scope 3 target covers "Category 11: Use of Sold Products," for products manufactured at the company's refineries. Informed by guidance from the Science Based Target Initiative (SBTi) and IPIECA, the calculation of Scope 3, Category 11 emissions is based on refinery yields because MPC's refinery yields are larger than marketed volumes.

As MRC informed earlier, in May, 2021, US refiner Marathon Petroleum Corp said its board had approved the conversion of the Martinez refinery in California to a renewable diesel plant. Besides, the company made a final investment decision regarding this project. Martinez, once complete, will be one of the largest renewables facilities in the country.

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 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.

Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets.
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MOSCOW (MRC) -- BASF and foam specialist NEVEON are working together to further develop the recycling of mattresses, said the company.

The aim is to establish a closed product loop for mattresses. Currently, discarded mattresses are mainly thermally recycled or disposed of in landfills. BASF and NEVEON want to change this and return mattress foams to the product life cycle. As early as this year, the two companies plan to obtain the first pilot quantities of recycled mattress foams made from collected used mattresses. The next step will then be to transfer the recycling to a larger scale in subsequent years.

BASF is developing a wet chemical recycling process for used mattresses made of flexible polyurethane. Initial small-scale trials have been very promising. The original polyols can be recovered from the used mattress foams and used again to produce high-quality flexible foam blocks. The quality of these flexible foam blocks made from recycled polyurethane are equivalent to those made from conventional materials from fossil raw material sources. Thus, high-quality new mattresses can be produced from alternative polyurethane.

"For the recycling of mattresses, cooperation between all stages along the value chain is crucial. Together with NEVEON, we want to build a partner network and close the loop step by step," explains Dr. Sven Crone, responsible for the European business for isocyanates & precursors at BASF. NEVEON CEO Oliver Bruns adds: "The future bears the name circular economy. We as an industry need to drive the transformation to a circular system where products at the end of their life cycle are not waste, but valuable raw material and feedstock for new products. I am therefore pleased to make an important contribution here together with BASF and other partners."

As MRC wrote before, BASF will build a battery recycling prototype plant in Schwarzheide, Germany, at the site of its cathode active materials (CAM) plant.

We also remind that n June, 2021, Trinseo, a global materials company and manufacturer of plastics, latex binders, and synthetic rubber, and BASF announced the intention to expand their businesses with the production of styrene monomer (SM) based on circular feedstock. Trinseo has procured first supplies of SM based on circular feedstock from BASF for use in its Solution-Styrene Butadiene Rubber (S-SBR) and polystyrene (PS) products. Trinseo supplies S-SBR to major tyre manufacturers while its PS products are used in applications such as food packaging and appliances. The first few customers have already processed the material, said the company.

BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
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MOSCOW (MRC) -- Braskem S.A., the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, has announced its investment in Nexus Circular LLC, according to SpecialChem.

Using a proprietary advanced recycling technology, Nexus converts a range of hard-to-recycle plastics especially landfill bound plastic films into its circular feedstocks which can then be converted back into virgin plastics (fully circular).

Nexus has optimized the technology to create a highly efficient and economic system providing cost-effective, superior quality and environmentally friendly products for its partners and customers.

Mark Nikolich, CEO, Braskem America, stated, "At Braskem we have a clear, long-term vision which is committed to a Carbon Neutral Circular Economy where nothing is wasted, and everything is transformed. A critical element of achieving this vision is investing in pathways that advance the circular conversion of hard-to-recycle plastic waste to valuable new materials, diverting it from landfills and improving our environmental footprint."

"Nexus shares our vision for accelerating the commercialization of advanced recycling with their own proprietary innovations and we couldn't be more excited to be a new investor in their journey," added Nikolich.

Eric Hartz, president and co-founder at Nexus Circular said, "We are so pleased to have Braskem join Nexus' advanced recycling endeavors and receive their support to accelerate our impact and growth worldwide."

The present investment in Nexus is one component of Braskem's strategy to drive plastics circularity, which includes projects aimed at recycling infrastructure, mechanical recycling, and advanced recycling - all of which are critical to meeting Braskem's and our clients' ESG commitments in the years to come.

In addition to the expansion of Braskem's recycled product portfolio in 2021, Braskem is also a founding member of the Alliance to End Plastic Waste, The Recycling Partnership's Polypropylene Recycling Coalition and Cyclyx.

Braskem is strongly committed to a Carbon Neutral Circular Economy where nothing is wasted, and everything is transformed. To support this vision for the future Braskem has clearly stated targets for growing the company's recycled content product portfolio to sales of 300,000 tons by 2025 and 1 million tons by 2030.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.

Braskem S.A. produces petrochemicals and generates electricity. The Company produces ethylene, propylene, benzene, toluene, xylenes, butadiene, butene, isoprene, dicyclopentediene, MTBE, caprolactam, ammonium sulfate, cyclohexene, polyethylene theraphtalat, polyethylene, and polyvinyl chloride (PVC).
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1. Shell to increase dividend and buy back more shares as oil and gas prices boost earnings

MOSCOW (MRC) -- Shell will increase its dividend and buy back more shares after high prices for oil and gas helped it deliver bumper full-year earnings after a strong fourth quarter, reported Financial Times. The UK-headquartered oil group’s adjusted earnings for 2021 - the profit measure most closely tracked by analysts - rose to USD19.3bn, from USD4.8bn a year earlier when the pandemic hit oil demand. Earnings for the last three months of the year were USD6.4bn, beating average analyst estimates of USD5.2bn and up from USD393mn in the same period a year earlier and USD2.9bn in the fourth quarter of 2019.

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MOSCOW (MRC) -- Modumetal, a leading provider of nanolamination coating technologies, announced it has raised USD14 MM in Series A-2 funding led by Atlas Innovate and Rotor Capital, according to Hydrocarbonprocessing.

Modumetal will use the funding to further accelerate commercialization of its oil and gas coating solutions, scale its operations, and expand its customer base in new key industries that include automotive and sustainable energy end markets. The company is rapidly expanding production capabilities as it has achieved specifications across some of the largest oil and gas and EPC companies in the industry.

Modumetal is also developing licensing partnerships to grow into new markets and drive adoption of new products. The first nanolamination systems that Modumetal has commercialized provide corrosion resistance, durability, and increased strength.

“We are revolutionizing nanolaminated materials, making industrial products more corrosion resistant to withstand the harshest environments on the planet and supporting new industrial capabilities that would not be possible without Modumetal,” said Dennis Creech, Chief Executive Officer of Modumetal. “This latest funding will enable us to continue scaling our business to meet the increased demand from a growing number of industrial customers, including global companies in the energy and automotive sectors. I look forward to working with our investors and with Tushar and Robert to seize on the many opportunities in front of us.”

As MRC informed earlier, DuPont is to invest around USD 5 m at facilities in Germany and Switzerland to increase capacity for automotive adhesives. The investment will expand capacity to support growing demand for advanced mobility solutions for vehicle electrification. New equipment has been delivered and installed that will increase manufacturing capacity as well as accelerate delivery of product samples to customers.

We remind that DuPont is also 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 is to be constructed. The launch of new facilities was scheduled for 2021.
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