Pemex to lift crude processing to 1.2 mln bpd this year

Pemex to lift crude processing to 1.2 mln bpd this year

MOSCOW (MRC) -- Mexican state-run oil company Petroleos Mexicanos, also known as Pemex, expects to increase its crude processing to 1.2 M bpd this year, Energy Minister Rocio Nahle said Thursday, said Reuters.

The rise from 922,000 bpd processed currently would come from Mexico's six active refineries along with Pemex's refinery in Deer Park, Texas, Nahle said at President Andres Manuel Lopez Obrador's regular news conference.

"Our commitment is to process 1.2 M bpd this year," she said.

Nahle added that the Olmeca refinery, which she has previously said will begin to process crude oil in July, is expected to help Mexico become self-sufficient in gasoline and diesel in 2024.

We remind, a fire broke out before noon on 14 March in one of the operating units at the Pemex Deer Park refinery, causing dark smoke that was visible in the community. The fire was extinguished about an hour later by the site’s emergency response team, a spokesperson for Pemex Deer Park said, and members of the team are currently assessing damages at the facility and the cause of the fire.

CPChem invests in Closed Loop Partners Circular Plastics Fund

CPChem invests in Closed Loop Partners Circular Plastics Fund

MOSCOW (MRC) -- Closed Loop Partners’ Circular Plastics Fund announced Tuesday the addition of two new investors–– Chevron Phillips Chemical (CPChem) and Charter Next Generation (CNG)––bringing the fund’s total capital to USD45 M in an effort to support the development of plastics recycling and recovery infrastructure in North America, said Hydracarbonprocessing.

The Circular Plastics Fund, managed by Closed Loop Partners, is focused on meeting the growing need to advance the recycling of rigid and flexible polyethylene (PE) and polypropylene (PP) plastics in the United States and Canada. Global companies CPChem and CNG join existing investors Dow, LyondellBasell, NOVA Chemicals, SK geo centric Co. and Sealed Air.

“We saw the speed with which Closed Loop Partners’ Circular Plastics Fund put capital to work and determined that investing in the fund would help address our impact goals,” said Rick Wagner, Sustainability Policy & Program Manager at CPChem. “Collaboration will be a key component in advancing the transition to a circular economy. We look forward to joining the Circular Plastics Fund and furthering work to achieve a more sustainable future."

In just its first year, the Circular Plastics Fund made significant investments in a range of solutions, including cutting-edge sortation technology and recycling infrastructure for plastics. Investments include: SMR (formerly Sims Municipal Recycling), a leading recycling company managing several municipal recycling programs across the United States; Myplas, a new state-of-the-art 170,000-square-foot flexible film recycling plant in Minnesota;

Greyparrot, a leading AI waste analytics platform that improves transparency and automation for plastics sortation in recycling facilities; and additional debt financing to Waste Commission of Scott County, a solid waste district in Northeast Iowa.

“The Closed Loop Circular Plastics Fund’s investments work to catalyze a systemic shift in plastics supply chains, enabling companies to transition from a linear to circular model that utilizes recycled materials,” said Jennifer Louie, Head of the Circular Plastics Fund at Closed Loop Partners. “Looking ahead, we have a strong pipeline of companies across the plastics recycling value chain and need more capital to invest in these critical solutions. This additional $10 M from our new investors will allow us to accelerate our capital deployment and reach our impact goals. We hope to see other companies with circular plastics goals join to help us achieve impact at scale."

Closed Loop Partners launched the Circular Plastics Fund as part of its broader strategy to reduce, reuse and recycle plastics. The fund provides catalytic debt and equity financing, spurring additional mainstream investments into recycling solutions and infrastructure that can help address bottlenecks in the recycling system for PE, PP and flexible plastics––materials deemed critical to ensuring that the industry’s growing demand for high- quality recycled material will be met.

The current supply of recycled plastics meets only 6% of the demand for the most commonly used plastics in the United States and Canada. Increasing the recovery and circularity of plastics, alongside material reduction solutions, scalable reuse systems and innovative new materials, not only can prevent millions of tons of plastics from going to landfills or ending up in the natural environment but can help meet an addressable market for plastics with potential revenue opportunities of USD120 B in the U.S. and Canada alone. With plastic waste expected to triple by 2060, the need for investments has grown even more urgent.

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.

Air Liquide to implement an innovative solution for Verallia

Air Liquide to implement an innovative solution for Verallia

MOSCOW (MRC) -- Air Liquide is building an oxygen production unit onsite for European glass packaging producer Verallia to reduce CO2 emissions and energy consumption, the French major announced.

A new oxygen production unit will be built and operated by Air Liquide onsite at Verallia’s plant in Pescia, Italy to melt glass via oxy-combustion instead of injecting air into the furnace, increasing efficiency. The new oxygen unit will also be equipped with a unique cryogenic process and will be 10% ore energy efficient than the previous generation.

Air Liquide will also supply proprietary technology to recover heat emitted by the glass furnace to reduce the amount of energy needed for production. This project will contribute to Verallia’s target of reducing Scope 1 and 2 emissions at its site in Pescia by 18%.

Producing oxygen onsite will also remove the need to transport material in liquid form via trucks, also increasing efficiency for the overall process.

Verallia is the third largest producer of glass packaging for food and beverage products globally.

We remind, Air Liquide posted a record high revenue growth of 28.3% at EUR 29.93 bn thanks to increasing energy costs that was passed on to buyers. The hydrogen and industrial gases company additionally emphasized that it aimed to expedite its investment for 2023, with a 40% increase for projects related to the energy transition.

Evonik and Chemours team up to provide high-performance, low-GWP solutions for the spray polyurethane foam industry

Evonik and Chemours team up to provide high-performance, low-GWP solutions for the spray polyurethane foam industry

MOSCOW (MRC) -- Evonik, the market and innovation leader in polyurethane additives, has boosted its range of high-performance products for the spray polyurethane foam (SPF) industry with the release of DABCO PM 301, said the company.

Used in combination with the latest Opteon™ 1100 and Opteon™ 1150 blowing agents from Chemours, a global chemistry company, DABCO® PM 301 improves thermal performance and increases efficiency in SPF systems.

SPF is one of the most efficient modern insulation materials driving energy savings in buildings due to its low thermal conductivity and its ability to prevent heat leakages that can be further advanced by the new product combination. Additionally, compared to traditional hydrofluorocarbon (HFC) blowing agents, Chemours’ Opteon hydrofluoroolefin (HFO) blowing agents offer a significant reduction in global warming potential (GWP) to optimize end-of life contribution of SPF. For example, Opteon 1150 has an ultra-low GWP of 16, according to the World Meteorological Organization’s (WMO), 2018 Scientific Assessment of Ozone Depletion Research and Monitoring Project*, which is 100 times lower than traditional HFC blowing agents.

We remind, Evonik is expanding its capacity to produce MetAMINO (DL-methionine) on Jurong Island, Singapore, by 40,000 metric tons to around 340,000 metric tons per year. The high double-digit million euro investment in this further technological development is to reach target capacity by the third quarter of 2024. The planned process optimization measures will improve the carbon footprint of MetAMINO® produced in Singapore by six percent.

ExxonMobil boosts fuel supply with USD2 bn Beaumont refinery expansion

ExxonMobil boosts fuel supply with USD2 bn Beaumont refinery expansion

MOSCOW (MRC) -- ExxonMobil announced the successful startup of its Beaumont refinery expansion project, which adds 250,000 bpd of capacity to one of the largest refining and petrochemical complexes along the U.S. Gulf Coast, said Hydrocarbonprocessing.

Supported by the company’s growing crude production in the Permian Basin, the largest refinery expansion in more than a decade will help meet growing demand for affordable, reliable energy.

“ExxonMobil maintained its commitment to the Beaumont expansion even through the lows of the pandemic, knowing consumer demand would return and new capacity would be critical in the post-pandemic economic recovery,” said Karen McKee, president of ExxonMobil Product Solutions. “The new crude unit enables us to produce even more transportation fuels at a time when demand is surging. This expansion is the equivalent of a medium-sized refinery and is a key part of our plans to provide society with reliable, affordable energy products."

The added volume in Beaumont increases its total processing capacity to more than 630,000 bpd, making it one of the largest refineries in the U.S.

The refinery is connected to pipelines from ExxonMobil’s operations in the U.S. Permian Basin, providing the company with significant strategic advantages. Permian crude oil is processed at the Beaumont refinery where the company manufactures finished products, including diesel, gasoline and jet fuel. With the completion of Wink to Webster and Beaumont pipelines, the new crude unit will also be well-positioned to further capitalize on segregated crude from the Delaware Basin.

In 2022, ExxonMobil reached record production at its North American refineries and achieved its highest global throughput since 2012. The company’s commitment and capability to meet society’s energy needs includes its willingness to invest, even counter cyclically.

Construction on the Beaumont expansion began in 2019 and involved 1,700 contractors. ExxonMobil has hired more than 50 full-time employees to help with the operation of the expanded refinery. The company’s extensive project management experience enabled the new crude and hydrotreater units to startup according to planned cost and schedule.

ExxonMobil’s integrated operations in Beaumont also include chemical, lubricants and polyethylene plants. ExxonMobil has approximately 2,100 employees in the Beaumont area and its operations account for approximately 1 in every 7 jobs in the region.

We remind, ExxonMobil awarded a front-end engineering and design (FEED) contract to Technip Energies for a blue hydrogen project at its complex in Baytown, Texas. ExxonMobil described the contract as the largest of its kind in the world. The company could make a final investment decision (FID) on the project in 2024. If ExxonMobil proceeds, it could start operations in 2027-2028. Financial details were not disclosed.