Dow publishes second annual integrated ESG Report

Dow Inc. released its second annual comprehensive Environmental, Social, and Governance (ESG) report, further demonstrating its commitment to transparency in data disclosure and how the Company is working to deliver solutions to global challenges that create lasting value for all its stakeholders, said Hydrocarbonprocessing.

Dow's "INtersections" report reflects the interdependency between the environment and society, innovation and science, collaboration and action, and builds on 18 consecutive years of voluntary sustainability reporting and three years of inclusion and diversity reporting.

"The challenges facing our local and global communities are increasingly complex and interconnected, and demand a collaborative and integrated approach," said Jim Fitterling, chairman and CEO of Dow. "They also require game-changing ideas fueled by science. As a science and technology company, we eagerly take on the responsibility for finding answers to the most pressing challenges of our time. This is central to our purpose as a company. It is central to our growth strategy. And it is central to driving best-in-class performance and accountability."

As MRC informed before, earlier this month, Dow and Plastogaz SA announced a strategic investment which will help simplify the process of converting plastic waste to feedstock and provide another carbon-efficient option to keep plastic waste out of landfills and the environment. The collaboration marks another milestone in Dow’s ongoing mission to protect the climate and close the loop on plastic waste.

Dow combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through our materials science expertise and collaboration with our partners. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people.
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BASF Shanshan Battery Materials Co., Ltd. (BSBM) is expanding its battery materials capacity in China to meet fast-growing demands of the electric vehicle industry, said BASF.

The expansion project at its sites in Changsha, Hunan province, and Shuizuishan, Ningxia province, will enable BSBM to achieve 100,000 tonnes of annual capacity for cathode active materials, the company said in a statement.

Commissioning of the new capacity will start from Q4 2022. "The new production lines are designed with high flexibility to produce an advanced product portfolio and meet customers’ diversified needs, from high-nickel and ultra-high-nickel nickel-cobalt-manganese oxide (NCM) for polycrystalline and single crystalline, as well as manganese-rich NCM products," the company said.

The manganese-rich products are already produced "on a multi-ton scale", BASF added. BSBM is 51% owned by BASF while lithium-ion battery materials supplier Shanshan holds the remaining 49% share of the company.

As per MRC, BASF completed a double-digit million euro investment to increase production capacity for Tinopal CBS optical brighteners at its Monthey site. Following phase one of the stepwise capacity increase in 2021, the recent completion of the investment program has now brought significantly increased capacity on stream to meet growing global customer demand.

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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British energy giant BP has agreed to sell its remaining 50% stake in the Sunrise oil sands project in northern Alberta, Canada, to Cenovus Energy, said the company.

The deal’s total consideration includes a USD466.9m (CD600m) cash payment and a conditional payment with a USD466.9m (CD600m) maximum aggregate value that expires after a two-year period. As part of the deal, Cenovus will sell its 35% stake in the undeveloped Bay du Nord project offshore Newfoundland and Labrador, in Eastern Canada, to BP.

The Bay du Nord project comprises several oil discoveries in the Flemish Pass basin, located approximately 500km north-east of St John’s. Situated in water depths of approximately 1,200m, the project is estimated to hold recoverable reserves of nearly 300 million barrels of oil.

BP Gulf of Mexico & Canada senior vice-president Starlee Sykes said: “This is an important step in our plans to create a more focused, resilient, and competitive business in Canada. “Bay du Nord will add sizeable acreage and a discovered resource to our existing portfolio offshore Newfoundland and Labrador. Along with BP’s active Canadian marketing and trading business, this will position BP Canada for strong future growth."

With the sale, BP will have no interests in the oil sands production assets in the North American country. Following the completion of the transaction, BP will focus on the future growth of offshore production. The firm currently owns stakes in six exploration licences in the offshore Eastern Newfoundland region. The transaction is subject to regulatory approvals and is scheduled to close this year.

As per MRC, The Abu Dhabi National Oil Company (ADNOC), oil major BP and Abu Dhabi future energy company Masdar have joined forces to develop clean hydrogen and technology hubs. Announcing their new-energy partnerships, ADNOC said the H2Teesside low-carbon hydrogen project with BP had moved into the design phase.

As per MRC, Adnoc and Mubadala Mubadala announced a strategic transaction involving Borealis, one of Europe’s leading petrochemical companies. Under this agreement, Adnoc will acquire a 25% shareholding in Borealis from Mubadala. Upon completion of the transaction, which is subject to customary closing conditions and regulatory approvals, Borealis will be owned 25% by Adnoc and 75% by OMV, an Austrian multi-national integrated oil, gas and petrochemical company listed on the Vienna Stock Exchange.
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Oil refiner Idemitsu Kosan plans to cut its capacity by 13% in less than two years as the ageing and shrinking population in Japan and the global shift to greener energy eats into household demand for petroleum, said Reuters.

"Domestic demand for petroleum products is declining faster than expected because of the population's ageing and shrinkage, as well as the worldwide trend for decarbonisation," Idemitsu Executive Vice President Susumu Nibuya told a news conference.

Idemitsu will terminate refining operation at Seibu Oil's Yamaguchi plant in western Japan by March 2024, the company said. Idemitsu holds a 66.9% stake in Seibu Oil.

The 120,000 bpd plant represents about 13% of Idemitsu's domestic capacity. Idemitsu plans to make Seibu Oil a wholly owned subsidiary as soon as possible to set about restructuring, Nibuya said.

As MRC wrote before, in early February, Idemitsu Kosan had no plan to give fresh financial aid to Vietnam's Nghi Son Refinery and Petrochemical (NSRP), which ha cut production to 80% of capacity due to a funding problem. Vietnam's largest refinery avoided a lengthy shutdown that month after a major shareholder secured short-term funding following a disagreement between shareholders about financing for crude, having earlier cut its run rate.

We remind that in October 2018, Idemitsu Kosan finalized a deal to buy out Showa Shell Sekiyu through a share swap in a deal worth about USD5.6 billion.
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BASF completed a double-digit million euro investment to increase production capacity for Tinopal CBS optical brighteners at its Monthey site. Following phase one of the stepwise capacity increase in 2021, the recent completion of the investment program has now brought significantly increased capacity on stream to meet growing global customer demand, said the company.

"Despite the massive challenges due to the Covid-19 pandemic and supply chain bottlenecks, we are delivering the additional volumes to our customers as previously announced," said Soeren Hildebrandt, Senior Vice President Home Care, I&I and Industrial Formulators Europe at BASF. "Tinopal® CBS enables us to support our customers’ growth with a top-quality solution for high-performance detergent formulations."

Tinopal® CBS is contained in liquid and powder detergents for home use and commercial dry-cleaning. As an optical whitener, it makes textiles last longer by ensuring brilliant white results even at low temperatures and on short cycles. Tinopal® CBS is ideal for use in innovative product formats including highly concentrated liquid detergents and single-dose packs. The product meets the criteria for EU Ecolabel-certified formulations.

As per MRC, BASF’s Glyoxal is utilized by customers as a cross-linking agent in numerous industries. Effective June 1, 2022, Univar Solutions has been named the exclusive distributor for BASF's Chemical Intermediates’ Glyoxal in the US and Canada. With this agreement BASF and Univar Solutions expand their collaboration to better serve customers through a host of sustainable solutions across a range of applications.

We remind that BASF is to increase its production capacity for plastic additives at its sites in Pontecchio Marconi, Italy and Lampertheim, Germany. BASF did not disclose, however, current or future capacities for its production of plastic additives hindered amine light stabilizers (HALS).

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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