MOSCOW (MRC) -- Chevron Phillips Chemical (CPChem) and Charter Next Generation (CNG) announced today that overwrap film made with CPChem’s Marlex Anew Circular Polyethylene is bound for store shelves in the U.S. Versatile and efficient, overwrap films help preserve food, keep medical instruments secure and sterile, and provide lightweight and durable product packaging, said Hydrocarbonprocessing.
“Together with CNG, we are transforming waste plastics into useful products and demonstrating real-world, commercial scale applications of circular plastics,” said Jay Bickett, CPChem’s Vice President of Polymers. “This collaboration is a great example of the new possibilities unlocked by advanced recycling."
CPChem leverages its established advanced recycling program to produce Marlex® Anew™ Circular Polyethylene, which is certified through International Sustainability and Carbon Certification (ISCC) PLUS using the free attribution model. This process uses pyrolysis oil, made from difficult-to-recycle waste plastics, as a feedstock to produce a circular polyethylene with characteristics identical to CPChem’s original Marlex polyethylene.
For more than a decade, CNG has used recycled content as a component in a number of its food and consumer packaging films, and recently announced ISCCPLUS certification at its Lexington, Ohio campus. This location is one of the single largest extrusion sites in the world and serves key markets such as towel and tissue overwrap, fresh produce, protein, e-commerce and more.
“CNG is excited to bring films using Marlex Anew Circular Polyethylene to consumers,” said Doug Latreille, Chief Commercial Officer at CNG. “With our Lexington campus now ISCC PLUS certified, CNG is well positioned to offer circular products like these films to customers on a commercial scale."
CPChem continues to explore applications for its circular polyethylene and enhance its advanced recycling program. The company recently worked with Phillips 66 to process pyrolysis oil in a successful commercial scale trial at the Phillips 66 Sweeny Refinery in Old Ocean, Texas. The Phillips 66 site has also received ISCC PLUS certification, verifying the refinery meets the standards to convert pyrolysis oil into circular feedstocks, which can be used to produce CPChem’s Marlex® Anew™ Circular Polyethylene.
We remind, Chevron Corp. posted a record USD36.5 bn profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.
The second largest U.S. oil producer's adjusted net profit for 2022 beat by about USD10 billion its previous record set in 2011. But USD1.1 B in writedowns in its international oil and gas operations in the fourth quarter left earnings short of forecasts for adjusted net profit of USD37.2 B.