State-owned Qatar Petroleum (Doha), which owns much of the country’s petchems operations, issued a statement following a decision by several Mideast states, including Saudi Arabia, to cut diplomatic relations with Qatar.
“In response to the recent unfortunate developments in the region, Qatar Petroleum and its subsidiaries have immediately mobilized all available resources and activated its business continuity plans to mitigate the impact of any action that could hamper its efforts to ensure safe and reliable energy supplies to all its customers across the globe.”
Qatar Petroleum, and its subsidiaries are conducting business as usual throughout all of the companies’ upstream, midstream and downstream businesses and operations, the company says. “We are closely monitoring and assessing all developments, and are prepared to take the necessary decisions and measures, should the need arise, to ensure that we always honor our commitments and obligations to all our customers and partners locally, regionally, and internationally.”
Saad Sherida Al-Kaabi, Qatar Petroleum’s president and CEO expressed his gratitude to the oil and gas sector in Qatar, as well as QP’s international partners and service providers for their efforts during the past few days, which helped mitigate the initial difficulties caused by the recent developments. He assured Qatar’s LNG customers of QP’s “determined efforts to continue uninterrupted supplies as the world’s most reliable LNG supplier.”
Qatar is the largest LNG producer and exporter, contributing more than 30% of the global LNG trade and supplying customers in all major LNG consuming countries in the world. Qatar is also a major exporter of natural gas by pipeline to neighboring countries. In addition, Qatar is the largest exporter of helium and gas-to-liquids products (GTL), and a major exporter natural gas liquids (NGLs), refined products, petrochemicals, fertilizers, steel and aluminum.
By Natasha Alperowicz
Source: Chemical Week
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.
Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.