The COVID-19 pandemic has delayed two large petrochemical projects planned for the US. Daelim Chemical has pulled out of an ethylene cracker project in Ohio that it had been developing with the Thai firm PTT Global Chemical.
PTT says the project continues to be a top priority and that it will seek a new partner while working toward a final investment decision late this year or early next year. PTT acknowledges that the combination of the pandemic and oil price volatility have delayed the timeline for developing the plant by 6–9 months. PTT has been pursuing the project since at least 2015, when its partner was the Japanese trading firm Marubeni.
Meanwhile, Chevron Phillips Chemical cites the pandemic for delaying a final investment decision on an $8 billion petrochemical facility it is considering building on the US Gulf Coast with Qatar Petroleum. The firms had intended to make the call on the plant next year. Chevron Phillips says it continues front-end engineering design.
By: Michael McCoy
The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “companies”) today announced they have reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.
The quest to develop hydrogen as a clean energy source that could curb our dependence on fossil fuels may lead to an unexpected place — coal. A team of Penn State scientists found that coal may represent a potential way to store hydrogen gas, much like batteries store energy for future use, addressing a major hurdle in developing a clean energy supply chain.
WE Soda (London), a major producer of soda ash, said it intends to launch an IPO and apply to list its shares on the main market of the London Stock Exchange. The company, wholly owned by industrial conglomerate the Ciner Group (Istanbul, Turkey), said it is the world’s largest producer of natural soda ash.