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How Europe's war on plastics is affecting petrochemicals
Enough to dent global oil demand? Not quite, according to the IEA, which points to petrochemicals - chiefly plastics - as "the largest source of growth in oil use" in the coming decade.
[...]
For the oil industry, plastics are therefore seen as a safe haven, as well as a key source of diversification.

"The oil industry is looking for its next growth driver and the petrochemical industry is a key market for oil demand growth," says Rob Gilfillan, head of films and flexible packaging at Wood Mackenzie, a consultancy.
[...]
Substances that are most exposed to the backlash include ethylene and propane, which are used for plastic bags and packaging.

The two most common petrochemical classes are olefins (including ethylene and propylene) and aromatics (including benzene, toluene and xylene isomers). Oil refineries produce olefins and aromatics by fluid catalytic cracking of petroleum fractions ...
Demand for polyolefin, which goes into packaging films and polyester, is also expected to take a hit at some point.
2019: What's Behind Saudi Arabia's New Downstream Strategy?
downstream d'oh
2017-2018: Refineries and feedstock worldwide
"It owns and operates the largest oil refinery in the US, the 630,000-bpd Port Arthur plant in Texas, through its wholly owned subsidiary Motiva."
2016: Refining and derivatives of crude oil: a new game between Riyadh and Tehran
"competitive gap"
2015: The largest producer of polyolefin, accounting for 56 percent, in the Middle East
2014: "Some view us as 'fly over land' and don't pay attention to the potential."

Diversity is the key to economic and political evolution.
by Cat on Tue Aug 27th, 2019 at 04:29:16 PM EST
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