Boom in petrochemicals demand guaranteed but we must grow sustainably

JOHN RICHARDSON | June 3, 2021 | 251 views

ONE OF THE GREATEST achievements of the last 30 years has been the fall in the number of people living in extreme poverty.In 1999, 1.9bn of the world’s population were living on less than $1.90, the Word Bank’s definition of extreme poverty. Despite setbacks caused by the pandemic, this had fallen to 698m by October 2020.

Income levels alone are not enough to escape the life-threatening agony of extreme poverty. There is no point in having money if the essential goods and services to spend your money on are not available.
Critical to poverty alleviation has been sufficient supply of all the things that people in the rich world take for granted. The raw materials to make the vast majority of manufactured goods include petrochemicals and polymers.

Nearly all the major manufacturing chains would not have been able to function without petrochemicals.
Think of medical equipment, syringes, blood bags, hospital gowns, face masks, pill bottles and medicine blister packs. None of the above could have been produced without petrochemicals.

As people emerged out of extreme poverty and as economies became wealthier, modern-day medical services became more widely available.

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Saudi Chemical Company

Saudi Chemical Company, a Saudi Joint Stock Company with a paid capital of 632,400,000 SAR, was founded in 1972 as the first civil explosive manufacturing company in the Kingdom of Saudi Arabia and immediately served as a domestic and an international provider of civil explosives for applications such as rock blasting for road cuts, foundations, trench blasting for oil and water pipe lines, tunneling for roads, mining and oil exploration.

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CHEMICAL MANAGEMENT

Transporting biological and chemical materials - what you need to know

Article | May 1, 2021

The landscape of biological and chemical logistics has changed rapidly - as have the regulatory frameworks around it. What has not necessarily kept pace is the end-user understanding of the nature of these logistical processes, their opportunities and their constraints. Twenty years ago, the transmission of biological and chemical materials was limited to a small range of organisations: usually national and international research companies, hospitals, major university departments, police and military departments with forensic responsibilities.

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CHEMICAL MANAGEMENT

Setting record straight on testing harm in chemicals

Article | June 29, 2021

The modern world is built on chemicals, be it the medicines we use, or cleaning fluids, crop protection products, or the raw materials for everything from laptops and mobile phones to clothes and furniture. Across all, we have created an entire modern society with chemicals, and, as a result, constantly stretched the size of the world population we can feed, clothe and shelter. Yet, balancing all the gains from the modern chemistry around us against any negative environmental and human impact has been a rising concern, making for ever greater focus on testing and on risk assessment.

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CHEMICAL MANAGEMENT

Why chemical characterization is the best way to assess patient risk

Article | June 13, 2021

Everyone is very familiar with the phrase when buying a house: All that really matters are three things - location, location, and location. This same principle applies to extractables and leachables chemistry analysis – the three things that truly matter are identification, identification, and identification. The greatest growth in the past ten years in demonstrating the safety of medical devices and container closure systems for drugs has been using analytical chemistry to determine what chemicals can leach from the device and what the patient is exposed to during its intended use.

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How Chemical Companies Benefit from the Experience Economy

Article | February 10, 2020

To feel or experience from a business engagement started with customer experience mainly in the consumer products business. Today it has extended to even knowledge industries like the chemical industry where experiencing or feeling can be leveraged to include all stake holders from customers primarily to employees to supply chain people & suppliers and all else. With digital technologies this has become easier than before. The benefits from promoting the ‘feel’ or ‘experience’ emotion could be multifarious for the chemical industry as described in this article.

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Spotlight

Saudi Chemical Company

Saudi Chemical Company, a Saudi Joint Stock Company with a paid capital of 632,400,000 SAR, was founded in 1972 as the first civil explosive manufacturing company in the Kingdom of Saudi Arabia and immediately served as a domestic and an international provider of civil explosives for applications such as rock blasting for road cuts, foundations, trench blasting for oil and water pipe lines, tunneling for roads, mining and oil exploration.

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CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH

Albemarle Announces the Unveil of Ketjen Corporation

Albemarle | February 01, 2023

Albemarle Corporation, a global leader in the specialty chemicals industry, recently announced the official brand launch of its wholly-owned subsidiary Ketjen. Ketjen develops advanced catalyst solutions for specialty chemicals, refining, and petrochemical industries. After declaring plans to manage the business as a subsidiary, the corporation revealed the new name of its catalysts division in November 2022. As an individual brand, Ketjen will continue to help customers on their individual energy transition journeys, ranging from fluidized catalytic cracking to hydro-processing to clean fuels to organometallics and curatives. Raphael Crawford, President at Ketjen, said, "As the industry responds to global market dynamics, our customers need innovative solutions to help them navigate their changing landscapes." He also added, "Ketjen will continue to provide its portfolio of advanced catalyst and specialty chemicals solutions, which are unique to each customer's needs, to increase production performance and business value." (Source – Cision PR Newswire) Ketjen is a multi-divisional company headquartered in Houston, Texas, that provides Fluidized Catalytic Cracking (FCC), Clean Fuels and Performance Catalyst & Curative and Hydroprocessing Catalysts (HPC) Solutions to customers in the petrochemical, refining, and specialty chemical industries (PCS). Operations at Ketjen will be managed by Albemarle's existing advanced catalyst solutions division. Kent Masters, CEO at Albemarle, "The launch of Ketjen continues our legacy as a partner-of-choice for industry leaders." He further mentioned, "Establishing Ketjen under this separate structure will allow the business even greater focus and continued development of custom, high-impact catalyst products." (Source – Cision PR Newswire) The team of experienced professionals at Ketjen takes a versatile, hands-on approach to customer operations, advising and leading on crucial tasks. Ketjen will be the market leader in advanced catalyst solutions thanks to its extensive involvement in the sector and its continuing long-term partnerships with big enterprises. About Albemarle Albemarle Corporation is a worldwide specialty chemicals corporation that thinks outside of the box to help companies in many of the world's biggest and most important industries, such as energy, transportation, and electronics, reach their full potential. The company works hard to find a way to manage its diverse geographic reach of world-class resources in a way that is sustainable. Together with its highly skilled and experienced global teams, deep-rooted values, and close relationships with the customers, Albemarle creates solutions with added value and better performance that make the future safer and more sustainable.

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CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT

Matador Resources Company to Acquire Advance Energy Partners Holdings, LLC

Matador Resources | January 25, 2023

On January 24, 2023, Matador Resources Company announced that a fully-owned subsidiary of Matador had signed a definitive agreement for the acquisition of Advance Energy Partners Holdings, LLC, which includes oil and natural gas producing properties and undeveloped land in New Mexico, Lea County, and Ward County, Texas. The consideration for the Advance Transaction will include an initial cash payment of $1.6 billion, depending on customary closing adjustments, as well as additional cash consideration of $7.5 million for every month in 2023, during which the average oil price exceeds $85 per barrel, as stated in the securities purchase agreement. Advance is an EnCap Investments L.P. portfolio company. The Advance Transaction has an effective date of January 1, 2023, and is anticipated to close in the Q2 of 2023, based on customary closing conditions. On January 24, 2023, at 10:00 am Central Time, Matador's management held a live conference call to review the Advance Transaction. Matador estimates the entire proved oil and natural gas reserves linked with these properties to be approximately 106,4 million BOE (73 percent oil) as of December 31, 2022. PV-102 of the proved natural gas and oil reserves of these properties as of December 31, 2022, was roughly $2.86 billion based on the same unweighted arithmetic average first-day-of-the-month prices for the prior year that was used to value the Company's reserves as of December 31, 2022, valued at $6.36 per MMBtu of natural gas and $90.15 per barrel of oil. Matador anticipates that the continued development of these properties will increase future proven reserves and reserves value. Sewell & Associates, Inc., independent reservoir engineers from the Netherlands, conducted an audit of the reserve estimates prepared by Matador's engineering staff. AboutMatador Resources Company Matador Resources Company is a publicly traded, independent energy company headquartered in Dallas that focuses on shale plays and other unconventional plays in its development, production, exploration, and acquisition of natural gas and oil resources in the U.S. The company has a dedicated team of technical and administrative professionals, as well as a culture of high performance and fiscal discipline. It was founded as a privately held company in July 2003, attracting equity capital from several hundred investors, many of whom were shareholders in Matador Petroleum Corporation, its predecessor.

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CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH

Clariter and TotalEnergies Fluids Creates Ultra-Pure Solvent from Plastic Waste

Clariter | February 02, 2023

A global cleantech company, Clariter and TotalEnergies’ division, TotalEnergies Fluids, recently announced its world's first sustainable ultra-pure solvent made from plastic waste. Ultra-pure solvents are utilized in cosmetics, pharmaceuticals, and other markets in high demand that require safe, odorless, colorless, and tasteless products that meet the criteria of the highest pharmacopeia-standard purity. In addition, the solvents made from plastic waste help reduce their environmental footprint and contribute towards the end-of-life plastics challenge. Clariter and TotalEnergies Fluids worked together for 18 months on joint research and development, which led to this technological and business success. Clariter uses its own innovative upcycling technology to turn plastic waste into high-quality solvents, waxes, and oils that can be used more than once. Using its Hydro-De-Aromatization (HDA) technology, TotalEnergies Fluids further transforms the upcycled materials into high-purity solvents that meet the quality levels required by the most stringent applications. This revolutionary innovation shows the commitment of the two partners to develop high-quality, low-carbon footprint products and contribute to the circular economy's development. Dr. Daria Frączak, Clariter's Scientific Director, said, "Developing products of such high quality from plastic waste is a triumph for our joint R&D work." She also said, "Clariter's know-how and experience in plastic upcycling, together with TotalEnergies Fluids' deep knowledge of stringent industry requirements, came together to develop a process to produce sustainable solvents that meet the highest purity standards. We are thrilled to have achieved this significant milestone in our journey towards bringing to industry sustainable, high-quality products made from plastic waste". (Source: Cision) About Clariter Clariter was established in 2003 and is a global cleantech company providing innovative solutions that upcycles plastic waste. Oils, waxes, and solvents are converted from plastic waste using this efficient, patented technology, which can then be used in place of their fossil fuel counterparts. The combination of Clariter's commercial appeal and its eco-friendliness is unbeatable. By creating green jobs and bolstering local communities, the company aids its partners in achieving sustainability goals and decreasing their reliance on crude oil.

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CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH

Albemarle Announces the Unveil of Ketjen Corporation

Albemarle | February 01, 2023

Albemarle Corporation, a global leader in the specialty chemicals industry, recently announced the official brand launch of its wholly-owned subsidiary Ketjen. Ketjen develops advanced catalyst solutions for specialty chemicals, refining, and petrochemical industries. After declaring plans to manage the business as a subsidiary, the corporation revealed the new name of its catalysts division in November 2022. As an individual brand, Ketjen will continue to help customers on their individual energy transition journeys, ranging from fluidized catalytic cracking to hydro-processing to clean fuels to organometallics and curatives. Raphael Crawford, President at Ketjen, said, "As the industry responds to global market dynamics, our customers need innovative solutions to help them navigate their changing landscapes." He also added, "Ketjen will continue to provide its portfolio of advanced catalyst and specialty chemicals solutions, which are unique to each customer's needs, to increase production performance and business value." (Source – Cision PR Newswire) Ketjen is a multi-divisional company headquartered in Houston, Texas, that provides Fluidized Catalytic Cracking (FCC), Clean Fuels and Performance Catalyst & Curative and Hydroprocessing Catalysts (HPC) Solutions to customers in the petrochemical, refining, and specialty chemical industries (PCS). Operations at Ketjen will be managed by Albemarle's existing advanced catalyst solutions division. Kent Masters, CEO at Albemarle, "The launch of Ketjen continues our legacy as a partner-of-choice for industry leaders." He further mentioned, "Establishing Ketjen under this separate structure will allow the business even greater focus and continued development of custom, high-impact catalyst products." (Source – Cision PR Newswire) The team of experienced professionals at Ketjen takes a versatile, hands-on approach to customer operations, advising and leading on crucial tasks. Ketjen will be the market leader in advanced catalyst solutions thanks to its extensive involvement in the sector and its continuing long-term partnerships with big enterprises. About Albemarle Albemarle Corporation is a worldwide specialty chemicals corporation that thinks outside of the box to help companies in many of the world's biggest and most important industries, such as energy, transportation, and electronics, reach their full potential. The company works hard to find a way to manage its diverse geographic reach of world-class resources in a way that is sustainable. Together with its highly skilled and experienced global teams, deep-rooted values, and close relationships with the customers, Albemarle creates solutions with added value and better performance that make the future safer and more sustainable.

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CHEMICAL TECHNOLOGY, CHEMICAL MANAGEMENT

Matador Resources Company to Acquire Advance Energy Partners Holdings, LLC

Matador Resources | January 25, 2023

On January 24, 2023, Matador Resources Company announced that a fully-owned subsidiary of Matador had signed a definitive agreement for the acquisition of Advance Energy Partners Holdings, LLC, which includes oil and natural gas producing properties and undeveloped land in New Mexico, Lea County, and Ward County, Texas. The consideration for the Advance Transaction will include an initial cash payment of $1.6 billion, depending on customary closing adjustments, as well as additional cash consideration of $7.5 million for every month in 2023, during which the average oil price exceeds $85 per barrel, as stated in the securities purchase agreement. Advance is an EnCap Investments L.P. portfolio company. The Advance Transaction has an effective date of January 1, 2023, and is anticipated to close in the Q2 of 2023, based on customary closing conditions. On January 24, 2023, at 10:00 am Central Time, Matador's management held a live conference call to review the Advance Transaction. Matador estimates the entire proved oil and natural gas reserves linked with these properties to be approximately 106,4 million BOE (73 percent oil) as of December 31, 2022. PV-102 of the proved natural gas and oil reserves of these properties as of December 31, 2022, was roughly $2.86 billion based on the same unweighted arithmetic average first-day-of-the-month prices for the prior year that was used to value the Company's reserves as of December 31, 2022, valued at $6.36 per MMBtu of natural gas and $90.15 per barrel of oil. Matador anticipates that the continued development of these properties will increase future proven reserves and reserves value. Sewell & Associates, Inc., independent reservoir engineers from the Netherlands, conducted an audit of the reserve estimates prepared by Matador's engineering staff. AboutMatador Resources Company Matador Resources Company is a publicly traded, independent energy company headquartered in Dallas that focuses on shale plays and other unconventional plays in its development, production, exploration, and acquisition of natural gas and oil resources in the U.S. The company has a dedicated team of technical and administrative professionals, as well as a culture of high performance and fiscal discipline. It was founded as a privately held company in July 2003, attracting equity capital from several hundred investors, many of whom were shareholders in Matador Petroleum Corporation, its predecessor.

Read More

CHEMICAL TECHNOLOGY, SCIENCE AND RESEARCH

Clariter and TotalEnergies Fluids Creates Ultra-Pure Solvent from Plastic Waste

Clariter | February 02, 2023

A global cleantech company, Clariter and TotalEnergies’ division, TotalEnergies Fluids, recently announced its world's first sustainable ultra-pure solvent made from plastic waste. Ultra-pure solvents are utilized in cosmetics, pharmaceuticals, and other markets in high demand that require safe, odorless, colorless, and tasteless products that meet the criteria of the highest pharmacopeia-standard purity. In addition, the solvents made from plastic waste help reduce their environmental footprint and contribute towards the end-of-life plastics challenge. Clariter and TotalEnergies Fluids worked together for 18 months on joint research and development, which led to this technological and business success. Clariter uses its own innovative upcycling technology to turn plastic waste into high-quality solvents, waxes, and oils that can be used more than once. Using its Hydro-De-Aromatization (HDA) technology, TotalEnergies Fluids further transforms the upcycled materials into high-purity solvents that meet the quality levels required by the most stringent applications. This revolutionary innovation shows the commitment of the two partners to develop high-quality, low-carbon footprint products and contribute to the circular economy's development. Dr. Daria Frączak, Clariter's Scientific Director, said, "Developing products of such high quality from plastic waste is a triumph for our joint R&D work." She also said, "Clariter's know-how and experience in plastic upcycling, together with TotalEnergies Fluids' deep knowledge of stringent industry requirements, came together to develop a process to produce sustainable solvents that meet the highest purity standards. We are thrilled to have achieved this significant milestone in our journey towards bringing to industry sustainable, high-quality products made from plastic waste". (Source: Cision) About Clariter Clariter was established in 2003 and is a global cleantech company providing innovative solutions that upcycles plastic waste. Oils, waxes, and solvents are converted from plastic waste using this efficient, patented technology, which can then be used in place of their fossil fuel counterparts. The combination of Clariter's commercial appeal and its eco-friendliness is unbeatable. By creating green jobs and bolstering local communities, the company aids its partners in achieving sustainability goals and decreasing their reliance on crude oil.

Read More

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