Crunching numbers: Phase one trade deal eases slowing chemical industry in China and U.S.

CGTN | January 17, 2020

In a landmark move in the future China-U.S. relations, the phase one economic and trade deal was signed on January 15 in Washington. Chinese Vice Premier Liu He and U.S. President Donald Trump officially sealed the deal in the East Room of the White House. This comes as a good news for the muted chemical industry across the U.S. and China, which found itself caught in the crossfire between the world's two largest economies. Even though the spotlight has been seldom onto the trade war impact on chemical industry, hundreds of tariff terms in the past two years have been related to chemicals and chemical manufacturing, making losses inevitable to both chemical producers in China and the United States.

Spotlight

Exposure to various chemicals occurs every day and through multiple routes such as ingestion, inhalation, skin contact and via the umbilical cord to the unborn child. Many chemicals are harmless or even beneficial; others are a threat to our health and to the environment.


Other News
CHEMICAL MANAGEMENT,SCIENCE AND RESEARCH

Imperial and E3 Lithium form strategic agreement on lithium pilot project in Alberta

Imperial | June 24, 2022

Imperial Oil Limitedand E3 Lithium announced a collaboration to advance a lithium-extraction pilot in Alberta, exploring the redevelopment of an historic oil field into a potential new leading source of lithium for Canada’s growing critical minerals industry. The pilot will support E3 Lithium’s Clearwater project, which will draw lithium from under the Leduc oil field, Imperial’s historic discovery that first launched major oil and gas development in Western Canada. E3 Lithium’s proprietary technology is designed to extract the critical mineral from the lithium-rich brine, with potential for commercial development of battery-grade products. “This exciting collaboration brings together Imperial’s long-standing commitment to research and technology to help test and scale E3’s lithium-recovery technology. We continue to advance the innovation and technologies needed to support the energy transition, working in collaboration with governments and industry to progress new opportunities from existing assets and sector expertise.” Jason Iwanika, director of commercial business development at Imperial “E3 Lithium and Imperial share an interest in the diversification of the Alberta economy, local job creation and sustainability,” said Chris Doornbos, CEO of E3 Lithium. “Leduc No.1, Imperial’s first well into this reservoir, was one of Imperial’s most prolific oil discoveries in Alberta and transformed the provincial and Canadian economies, much like lithium has the potential to do. Having Imperial now working with E3 Lithium in exploring the redevelopment of Leduc into a world-class source of lithium is an exciting new chapter in Alberta and Canada’s story.” The pilot project includes drilling Alberta’s first lithium evaluation wells, planned to be completed by the end of the third quarter of this year. Work will also focus on scaling up E3 Lithium’s proprietary technology, which brings the brine liquid to the surface where the lithium is removed and concentrated. This liquid is immediately returned underground as part of a closed-loop system. E3 Lithium’s PEA1 estimates the first phase of development could produce approximately 20,000 tonnes of lithium hydroxide per year. Under the agreement, E3 Lithium will continue to operate the Clearwater project and retain its IP, with technical and development support from Imperial in areas such as water and reservoir management. The agreement also includes access for E3 Lithium to freehold lands in the area, which are operated by Imperial. As part of the agreement, Imperial has agreed to invest CAD $6.35 million into E3 at a pre-paid price of CAD $1.86/warrant and the issuance of 3,413,979 warrants. Each warrant provides the holder the option to exercise the warrant for one common share of E3. The warrants are immediately exercisable, non-transferrable, expire in 24 months and are non-refundable. About E3 Lithium E3 Lithium is a lithium development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium’s goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world. About Imperial After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

Read More

CHEMICAL MANAGEMENT

Aramco and Cognite Join Forces in New Data Venture

Aramco and Cognite | June 20, 2022

Aramco and Cognite, a global leader in industrial software, have launched CNTXT, a joint venture based in the Kingdom of Saudi Arabia. Headquartered in Riyadh, CNTXT will support industrial digitalization in the Kingdom and the wider MENA region. CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software. These solutions and services will help companies in the public and private sectors future-proof their data infrastructure, increase revenue, cut costs, and reduce risks while enhancing operational sustainability and security. CNTXT is Google Cloud’s reseller for cloud solutions in the Kingdom and the exclusive reseller of Cognite Data Fusion® in the MENA region. Additionally, Google Cloud is expected to launch a “Center of Excellence” later this year to provide training to developers and business leaders on how to use cloud technologies. Led by Abdullah Jarwan, appointed CEO of CNTXT, and a management team of local and international talent, CNTXT plans to significantly grow the team this year in hopes of becoming the top tech employer in the Kingdom. The launch of CNTXT is a major milestone in the collaboration between Aramco and Aker ASA, the majority owner of Cognite. The partnership began in 2019 with the signing of a Memorandum of Understanding (MoU) to develop synergies and share knowledge on industrial digitalization and sustainability initiatives. Ahmad A. Al-Sa'adi, senior vice president of Technical Services at Aramco, said: “CNTXT brings together industrial legacy, unmatched technology, and a truly talented team that will aid in the digitalization of the public and private sectors in the Kingdom. CNTXT will be an important catalyst of digitalization of the Kingdom.” Øyvind Eriksen, president of Aker ASA and chair of the Cognite Board of Directors, said: “CNTXT will be an important vehicle for driving profitability and sustainability of the Kingdom’s industries through innovative use of technology. I look forward to seeing the company accelerate the digital transformation of the most important sectors in the region.” Abdullah Jarwan, CEO of CNTXT, said: “The untapped potential in the digital transformation of the Kingdom of Saudi Arabia and the greater Middle East is enormous. With Google Cloud and Cognite offerings in our portfolio, we can help the public and private sectors innovate faster, scale AI-driven solutions, and turn data into value.” Abdul Rahman Al Thehaiban, managing director, Middle East, Turkey, and Africa, Google Cloud, said: “Businesses all around the world turn to Google Cloud to enable growth and help them solve their most business-critical challenges. With CNTXT as Google Cloud’s reseller in the Kingdom, we will be leveraging the latest technologies and decades of expertise to help businesses grow and develop safely and securely.” About Aramco Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. About CNTXT Founded in 2022 and based in Saudi Arabia, CNTXT is a joint venture between Aramco and Cognite that delivers premium cloud and digital transformation products and services in the Middle East and North Africa. CNTXT’s digital offerings, including Google Cloud and Cognite Data Fusion, enable customers to achieve greater efficiency, sustainability, and profitability throughout their digital transformation journeys. About Cognite Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability.

Read More

CHEMICAL MANAGEMENT

RELEX Solutions Becomes Carbon Neutral

RELEX Solutions | June 10, 2022

RELEX Solutions, provider of AI-driven supply chain and retail planning solutions, announced today that they have retroactively achieved carbon neutrality for 2021 and begun compensating annually for their emissions. RELEX partnered with offsetting provider Compensate to calculate and offset their carbon footprint. In practice, this means the company successfully removed or avoided 2,544 tonnes of CO2 emissions. RELEX reached the milestone through investments in two initiatives: afforestation in Qianbei, China, where 47,061 hectares of barren land are being converted into a forest, and the Luangwa Community Forests Project in Zambia, which improves local communities and protects 1 million hectares of wilderness areas. RELEX and Compensate calculated the solution provider’s carbon footprint across scopes 1, 2 and 3, addressing both direct and indirect emissions. The approach allowed RELEX to gain a holistic view of their carbon output, helping the company to innovate, execute, and track new ways to reduce emissions from all three scopes. “Solving the carbon emissions challenge first requires understanding its scope, so our priority was to gain visibility into how our operations impacted the environment, then counteract those impacts successfully. Reducing and offsetting carbon emissions is everyone’s responsibility – whether you’re a manufacturer, distributor, retailer, or solution provider, it’s important to scrutinize your footprint and take meaningful steps to address it.” Svante Göthe, Head of Sustainability at RELEX These global carbon offset projects are in addition to strategies RELEX has already put in place to reduce their emissions. Flexible work-from-home policies, reducing non-essential business travel, successful remote implementations, and maximizing renewable energy coverage in RELEX’s cloud computing are a few examples of current initiatives that will continue to evolve. “At RELEX, we pride ourselves on how our technology helps retailers, wholesalers, and consumer packaged goods companies become more sustainable, helping customers cut food waste by up to 40%. That’s why it’s even more important that we practice what we preach, both in the long term through emissions reduction, and the short term through emissions offsetting,” says Mikko Kärkkäinen, Co-Founder and Group CEO at RELEX. “We’re proud to support programs such as the Qianbei and Luangwa projects that will have tangible, positive impacts on their regions for years to come.” About RELEX Solutions RELEX Solutions helps retailers and consumer brands drive profitable growth across all sales and distribution channels by maximizing customer satisfaction and minimizing operative costs. Our market-leading, unified supply chain and retail planning platform helps retailers and consumer goods companies align and optimize demand, merchandising, supply chain, and operations planning across the end-to-end value chain. We drive record-high product availability, increased sales, improved sustainability, and the best return on investment in inventory, space, workforce, and capacity. Leading brands like Dollar Tree and Family Dollar, Stokke, Rite Aid, Sprouts Farmers Market, AutoZone, and PetSmart trust RELEX to optimize their supply chain and retail planning. About Compensate Compensate combats climate change by offering everyone easy access to carbon capture. To achieve this mission, Compensate combines a market-disrupting sustainability approach with scalable software solutions.

Read More

CHEMICAL MANAGEMENT

Shell completes acquisition of Landmark fuel and convenience network

Shell | June 02, 2022

Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US has completed the acquisition of certain company-owned fuel and convenience retail sites from the Landmark group of companies. The acquisition also includes supply agreements for the independently operated fuel and convenience sites. Building on the strength of its existing networks, this acquisition brings Shell closer to its customers and enhances Shell's market presence by growing its mobility footprint in a key region in the U.S., which is one of the largest fuels and convenience retail markets in the world. With this acquisition, Shell is advancing its Powering Progress strategy in three ways: by growing its retail footprint in a core market, by providing opportunities to offer customers expanded fuelling options and by allowing for the growth of non-fuel sales through an enhanced convenience offering. .

Read More

Spotlight

Exposure to various chemicals occurs every day and through multiple routes such as ingestion, inhalation, skin contact and via the umbilical cord to the unborn child. Many chemicals are harmless or even beneficial; others are a threat to our health and to the environment.

Resources