Borouge and Tadweer sign partnership to explore recycling opportunities in Abu Dhabi

Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions and Tadweer signed a Memorandum of Understanding (MoU) to explore opportunities in the management and adoption of best practices in waste management, sorting and mechanical recycling of polymers, said the company.

Tadweer, part of ADQ, is the sole custodian of waste management for the Emirate of Abu Dhabi and is committed to developing an integrated waste management sector and becoming a leader in extracting value from waste to contribute to national sustainability ambitions.

Borouge and Tadweer will explore further opportunities in polymers waste sorting for mechanical recycling and the development of a sustainable ecosystem, to secure the generation of high-quality polymer recyclates using different technologies. Furthermore, the partners will join forces to establish business development and benchmarking frameworks which unlock value added business opportunities through potential joint investments in brown and greenfield assets. The agreement reinforces Borouge and Tadweer’s leading industry positions and supports their circular economy ambitions.

Both companies will be collaborating in supporting local regulatory frameworks related to the sustainable and efficient management of polymer waste. This includes the launch of public initiatives and campaigns to boost awareness about best practices in polymer waste management and recycling.

Committed to driving circularity for a zero-waste environment, Borouge has increased the number of strategic partnerships with recycling companies and expanded its product portfolio of sustainable solutions. Today, Borouge has 18 partnerships across eight countries serving its key territories in the Middle East and Asia-Pacific, marking an important milestone in its ambitions towards realising its 2030 strategy.

Borouge is a responsible petrochemical company with a portfolio of sustainable solutions. The Company works with customers, suppliers and value chain partners to address global challenges, with a comprehensive roadmap to reduce emissions. In addition, Borouge collaborates with the Environment Agency – Abu Dhabi to combat a multitude of environmental issues related to waste management.

As part of its commitment to sustainability, Tadweer has built partnerships with leading global entities in Greece, Spain, Jordan, and more. These partnerships, which are focused on the exchange of knowledge and experience, contribute to driving a circular economy and achieving a sustainable future. Tadweer’s partners play a pivotal role in supporting the company to develop an integrated waste management system, in line with the UAE’s sustainability objectives.

We remind, Borouge PLC, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, and Borealis, one of the world’s biggest polyolefin manufacturers, announced the launch of two new sustainable polymer products for the automotive industry, in line with both companies’ sustainability drive. Made from up to 70% recycled materials, these are the first sustainable products developed at Borouge’s Compounding Manufacturing Plant (CMP) located in Shanghai, China, which recently received ISO 14067 certification for carbon footprint assessment.

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Private equity firm SK Capital Partners acquired U.S. oilfield waste services firm Milestone Environmental Services from Amberjack Capital Partners for an undisclosed amount, said Reuters.

The purchase reflects the rise of greenhouse gas reduction schemes offered to oil, power and petrochemical industries and tax credits available for carbon capture and storage (CCS) projects.

Milestone sees permanent carbon storage as an extension of its oil waste disposal in top U.S. shale fields, said CEO Gabriel Rio. Carbon collection and disposal revenues could eventually match its oilfield waste revenues.

The company plans two carbon dioxide (CO2) storage projects in the Permian Basin, the top U.S. shale oilfield, where it now collects and buries drilling waste and oil-contaminated water. The first could begin injecting CO2 as soon as 2025 and store 2.5 million tons of carbon per year, he said.

Milestone will complete against Exxon Mobil (XOM.N), Occidental Petroleum (OXY.N) and Chevron (CVX.N) developing storage projects in Texas and Louisiana. Its relationships with oil and gas producers and wastewater disposal well experience can overcome worries about its size, Rio said.

"We really understand the geology and how to put waste streams back into the ground and keep them safely away from groundwater and permanently secure," Rio said.

The firm, which generates between $100 million and $300 million in revenue, accounts for a significant part of the money now spent on oil waste management in Texas's two largest shale fields, estimates Amar Gujral, managing director at LEK Consulting.

We remind, SKC Ltd., a South Korean chemicals maker, is set to invest as much as USD70 million in Halio Inc., a US smart glass technology company, to expand the energy-saving solution business. SKC said its board of directors on Tuesday decided on the investment plan with aims to foster the energy-saving solution based on smart windows as one of the company’s core eco-friendly businesses along with biodegradable materials, which reduce plastic waste.

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Houston-based e-fuel producer HIF Global and Japanese oil refiner Eneos Holdings will explore cooperating on e-fuels production and distribution, the companies said, in HIF's second such deal in the Japanese market, said Hydrocarbonprocessing.

E-fuels producers such as HIF are betting on e-gasoline as a low-carbon bridge fuel for internal combustion cars, and are also looking to develop similar e-fuels for aviation and other hard-to-electrify industries. Many global airlines, for example, are counting on such products to decarbonize their flights.

HIF intends to supply Eneos with carbon-neutral e-fuels produced in the United States, Chile and Australia, the companies said in a statement. They have not yet signed a contract. HIF Executive Director Meg Gentle told Reuters the focus of talks was for HIF-made e-gasoline, which Eneos can distribute in Japan.

Also under consideration is using HIF-produced e-methanol in Japan as marine fuel, with Eneos further processing the e-fuel at its refinery in Japan to make e?gasoline and carbon neutral aviation fuel, Gentle said. Markets around the world are shifting to electric vehicles, with some such as China making a rapid shift as governments mandate sales of EVs to cut carbon dioxide (CO2) emissions.

But existing gasoline-powered vehicles, including hybrids from companies such as Toyota and Ford, will likely be on the road for several decades to come. That requires a different solution to make transport carbon-neutral. "We need a way to decarbonize existing engines to have any chance of reaching net zero," Gentle said.

Sceptics argue, however, that e-fuels, typically made from captured CO2 emissions and hydrogen produced with renewable energy sources, are expensive and energy-intensive. Synthetic fuel does release CO2 into the atmosphere when burned, but the emissions can be equal to the CO2 captured to produce the fuel, making it carbon-neutral overall.

HIF signed an almost identical agreement with Idemitsu Kosan in April. The agreements are consistent with Tokyo's willingness to provide policy support for e-fuels, Gentle said, and part of its efforts to achieve carbon neutrality by 2050.

We remind, TotalEnergies ENEOS and PTT Global Chemical (GC) celebrated the official launching of a total capacity of 6.7 megawatt-peak (MWp) solar photovoltaic (PV) system for GC's 5 production facilities in Thailand. GC is Thailand's largest integrated petrochemical and refining business and a leading corporation in the Asia-Pacific region, with a target to reduce greenhouse gas emissions for 20 percent by 2030 on its journey towards achieving Net Zero emissions by 2050.

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Honeywell announced that its Board of Directors has approved an increase in the company's regular annual cash dividend from $4.12 to $4.32 per share, said the company.

The increase will be effective starting with the fourth-quarter dividend of $1.08 per share, which was declared today, and is payable on December 1, 2023 , out of surplus to holders of record at the close of business on November 10, 2023 .

"For the 14 th time in 13 consecutive years, Honeywell is increasing its dividend," said Vimal Kapur, chief executive officer of Honeywell. "As we align our portfolio with the megatrends of the future – automation, the future of aviation and energy transition – underpinned by the Honeywell Accelerator operating system as the foundation for profitable growth, we will continue driving value for our shareholders."

Honeywell is a technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit Honeywell | Newsroom.

We remind, Chemours Company (Chemours) and Advanced Performance Materials, and Honeywell announced they have engaged with the Interagency for Market Control of the Hellenic Ministry of Development (DIMEA), the Hellenic Police, and Hellenic Customs to stop illegal fluorinated gas (F-gas) refrigerants from entering the European Union (EU) at the Greek border.

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The Russian government is ready to ease a ban on diesel exports in coming days, said Reuters.

Separately, TASS news agency cited Energy Minister Nikolai Shulginov as saying that the government "at all levels" had been discussing partial permission for fuel exports. He said further decisions on fuel market regulation would be published in the near future.

Despite being one of the world's top oil producers, Russia has suffered shortages of gasoline and diesel in recent months as high export prices made it advantageous for refiners to sell their products abroad.

Kommersant reported that the ban would be lifted only on pipeline exports of diesel, and that volumes may be subject to quotas to avoid surges in wholesale prices. The ban on gasoline exports will remain in force for now, it said.

Diesel is Russia's biggest oil product export, at almost 35 million tons last year. It exported 4.8 million tons of gasoline. The newspaper said Deputy Prime Minister Alexander Novak was due to hold a weekly meeting later on Wednesday with oil companies to discuss the possible easing of the ban.

Novak's office did not immediately reply to a request for comment. Novak said last week that Russia may introduce quotas on fuel exports if a complete ban on cross-border supplies imposed on Sept. 21 does not succeed in bringing down high gasoline and diesel prices.

Prices have fallen on the local exchange since the ban was introduced; gasoline by almost 10%, and diesel by 23%. The oil pipeline monopoly Transneft's storage facilities are nearly full and it is proving almost impossible to redirect all incoming volumes to the domestic market, Kommersant said.

On Tuesday, Novak said the government was not setting any time frame for the fuel export ban. Analysts' expectations vary on how long the measures will be in effect. JP Morgan said it could last a couple of weeks until harvest season concludes in October, while FGE Energy said replenishing Russia's gasoline stocks could take up to two months.

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