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COVID-19 - News digest as of 20.05.2020

May 20/2020

1. Borealis decision to discontinue world-scale polyethylene project in Kazakhstan

MOSCOW (MRC) -- Borealis says it will not proceed with the development of a multi-billion-dollar integrated steam cracker and polyethylene (PE) project in Kazakhstan, said the company.The decision to discontinue this project is based on a thorough assessment of all aspects of the prospective venture and impacted by the effects of the COVID-19 (coronavirus disease 2019) pandemic as well as the increased uncertainty of future market assumptions, Borealis states.

2. Oil and gas industry delays repairs amid virus lockdown

MOSCOW (MRC) -- The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russias Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say, said Hydrocarbonprocessing. Below is a list of projects that have been affected in recent months.  Totals Grandpuits refinery near Paris, Feyzin refinery near Lyon and Gonfreville Normandy refinery in northern France all delayed maintenance due to the outbreak. Phillips 66 (PSX.N) is delaying three sizeable scheduled shutdowns at its refineries this year, the company said last week, because of concerns that coronavirus could spread among the refineries workers if the maintenance goes ahead.

3. U.S. ethanol industry says inching back from collapse

MOSCOW (MRC) -- The U.S. ethanol industry is showing some signs of recovery as government officials ease stay-at-home orders that depressed fuel demand, while a vote Friday in Congress could bring the industry one step closer to federal aid, industry officials said, as per Hydrocarbonprocessing. Fuel demand collapsed by about a third with the spread of the novel coronavirus this spring, and U.S. ethanol production capacity halved as around 150 facilities either idled or reduced rates. Now as restrictions ease and gasoline demand inches higher, about 140 facilities are idled or running at reduced rates, Renewable Fuels Association President Geoff Cooper said on Friday.
Author:Margaret Volkova
Tags:PE, crude and gaz condensate, petrochemistry, Borealis, Phillips 66, COVID-19, Kazakhstan, USA.
Category:General News
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