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MOSCOW (MRC) -- Refiner Irving Oil will
lay off 6% of its global workforce due to economic challenges presented by the
coronavirus pandemic, reported Reuters
with reference to the company's statement.
The layoffs will affect 250
workers across its operations in Canada, the United States, Ireland and the
UK.
“The challenges that we face in our business and our industry are
unlike any we have ever experienced,” Irving Oil president Ian Whitcomb and
chief brand officer Sarah Irving said in a joint statement.
As MRC wrote
before, Canada-based oil refinery operator Irving Oil said in late May,
2020, it had agreed to buy North Atlantic Refining Corp, the owner of the
Come-by-Chance refinery in Newfoundland. Terms of the deal were not disclosed.
The Come-by-Chance refinery, which has an output of 135,000 barrels per day, was
the first to close in North America as refiners worldwide began to scale back to
adjust to a sudden demand slump due to the coronavirus outbreak.
Ethylene
and propylene are feedstocks for producing polyethylene (PE) and polypropylene
(PP).
According to MRC's ScanPlast report,
Russia's estimated PE consumption totalled 595,170 tonnes in the first five
month of 2020, up by 10% year on year. Deliveries of all ethylene polymers,
except for linear low density polyethylene (LLDPE), rose partially because of an
increase in capacity utilisation at ZapSibNeftekhim. At the same time, PP
shipments to the Russian market was 457,930 tonnes in January-May 2020
(calculated by the formula production minus export plus import). Deliveris of
exclusively PP random copolymer increased. |
