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EPCA cancels annual meeting due to COVID-19 pandemic, transitions to virtual format

April 28/2020

MOSCOW (MRC) -- The European Petrochemical Association (EPCA; Brussels, Belgium) says that, as a result of the severe global disruption caused by the COVID-19 pandemic, the EPCA board has unanimously decided to cancel the 54th EPCA annual meeting, which had been due to take place in Budapest, Hungary, on 4-7 October 2020, reported Chemweek.

EPCA says it has decided instead to hold the event in a virtual format on the same dates.

Even in the event that the various pandemic lockdown measures were to be lifted, the potential participation of several thousand individuals would create an undue risk to delegates, speakers, staff members, and external suppliers as well as to the citizens of Budapest, EPCA says.

The virtual event will have a revised program, details of which will be disclosed before the summer, EPCA says.

We remind that, as MRC informed before, dozens of tankers holding jet fuel and gasoline are at anchor in sea lanes around Europes main storage hubs, unable to discharge their cargoes as onshore tanks are full to capacity following the collapse in demand linked to the coronavirus crisis. Nearly 1 million tonnes of refined products are parked on around 30 tankers off Europes coast, Reuters calculations found. According to shipping data and trade sources, tankers have dropped anchor near to the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub and across parts of the Mediterranean as their cargo owners struggle to find buyers or storage tanks.

Earlier this year, BP said the deadly coronavirus outbreak could cut global oil demand growth by 40 per cent in 2020, putting pressure on Opec producers and Russia to curb supplies to keep prices in check.

We also remind that, in September 2019, six world's major petrochemical companies in Flanders, Belgium, North Rhine-Westphalia, Germany, and the Netherlands (Trilateral Region) announced the creation of a consortium to jointly investigate how naphtha or gas steam crackers could be operated using renewable electricity instead of fossil fuels. The Cracker of the Future consortium, which includes BASF, Borealis, BP, LyondellBasell, SABIC and Total, aims to produce base chemicals while also significantly reducing carbon emissions. The companies agreed to invest in R&D and knowledge sharing as they assess the possibility of transitioning their base chemical production to renewable electricity.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 383,760 tonnes in the first two month of 2020, up by 14% year on year. High density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased due to the increased capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 192,760 tonnes in January-February 2020, down by 6% year on year. Homopolymer PP accounted for the main decrease in imports.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PP, PE, LLDPE, crude and gaz condensate, homopolymer PP, propylene, HDPE, ethylene, petrochemistry, BASF, Borealis, BP Plc, LyondellBasell, Sabic, Total Petrochemicals, Russia.
Category:General News
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