What the Coronavirus could mean for the global petrochemical industry?

| March 10, 2020

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Coronavirus (covid-19) has developed rapidly and is already impacting significant parts of the global economy.  Within this context the petrochemical industry is also being severely affected through short-term market uncertainties, pricing volatility and declining consumption in many of its key segments.  The most visible outcome is emanating from China where economic activity has declined sharply in February and is forecast to remain low over the next few months. The effect of China’s economic slowdown is now resulting in consequences in other regions – “when china sneezes, the whole world catches a cold”.

Spotlight

FIS Chemicals LTD

A designer of specialist and innovative chemical solutions, FIS Chemicals LTD was established in 1980 and is solely owned by Managing Director, Tom Cummings, Chartered Chemist, Fellow Royal Society of Chemistry and is Scotland’s fastest growing chemical company. FIS Chemicals LTD shapes resources and creates new uses that accelerate customer performance within the Oil & Gas industry. Some of the biggest drilling companies and service providers contour a large part of the Company’s Oil & Gas portfolio and global supply.

OTHER ARTICLES

The Chemistry of Waterborne Polyurethane Coatings

Article | March 5, 2020

Polyurethanes have long been known to produce coatings that exhibit high toughness, abrasion resistance, enhanced aesthetics, and durability. Solvent-based polyurethanes have traditionally set the performance standard for high durability coatings. However, environmental considerations for low-VOC alternatives and reduced exposure to solvents has stimulated the development of alternative technologies based on waterborne polyurethane systems.

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CHEMICAL TECHNOLOGY

We can solve the plastic waste crisis but we don’t have much time

Article | March 5, 2020

IN 2015, a global agreement was reached that 8m tonnes a year of plastic waste entering the oceans was unacceptable, according to this September 2020 article in The Conversation. This was the amount of plastic that was estimated to have ended up in the oceans in 2010. “Several international platforms emerged to address the crisis, including Our Ocean, the UN Sustainable Development Goals and the G7 Ocean Plastic Charter, among others,” continued the article. But in 2020, an estimated 24m-34m tonnes of plastic waste was forecast to enter our lakes, rivers and oceans. This could reach as much as 90m tonnes in 2030 if the current trajectory continued, said The Conversation. This is the type of information out there, free to view on the internet and accessible via a very quick Google search, representing a major challenges for our industry. I cannot of course verify the numbers. But they are out there. Also out there is a May 2019 article by the World Economic Forum (WEF), which provided a good summary of research into what experts believed was the scale of the waste problem in the developing world.

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SCIENCE AND RESEARCH

More data show how far we still have to go to solve the climate and plastic waste crises

Article | March 5, 2020

SEE THE END section of this blog post for a dystopian version of our environmental future. In a follow-up post – which I will publish on Thursday, 1 July – I will offer some suggestions about how we can avoid an outcome that nobody of course wants.Both posts are meant to be provocative, challenging and controversial because only through debate, and sometimes outright argument, will we get to the answers. If you disagree after either or both posts have been published, great, that would be good. In fact, I would love to hear from you whatever your views at john.richardson@icis.com. The petrochemicals industry can do this; we can fix this if we create the right forums for ideas and then solutions. Let me provide the background first. Let me start by examining developments in the refinery industry and the implications for petrochemicals as important background. Then I will look at a sample of ICIS petrochemicals demand growth forecasts for 2020-2040. I will conclude by providing the bleakest of bleak outcomes for the world in 2025

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Why QuickStart Chemical Management Can Save Your Assets

Article | March 5, 2020

The world of Environmental, Health and Safety (EHS) IT systems is a vast one. Therefore, it cannot be stressed enough that organizations need to be nimble and armed with easy-to-deploy, interoperable, portable systems. Most mature organizations opt for a risk-based EHS management system framework designed to meet a continually evolving and dynamic business and operating model. A risk-based approach offers flexibility, within defined boundaries, for alternate solutions to risk management needs. Standard frameworks recommend mandatory controls when there is potential for high-consequence events. Moreover, risk control measures which have been proven effective and considered technically superior are increasingly used.

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Spotlight

FIS Chemicals LTD

A designer of specialist and innovative chemical solutions, FIS Chemicals LTD was established in 1980 and is solely owned by Managing Director, Tom Cummings, Chartered Chemist, Fellow Royal Society of Chemistry and is Scotland’s fastest growing chemical company. FIS Chemicals LTD shapes resources and creates new uses that accelerate customer performance within the Oil & Gas industry. Some of the biggest drilling companies and service providers contour a large part of the Company’s Oil & Gas portfolio and global supply.

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