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Irving Oil to lay off 6% of global workforce, citing coronavirus

July 10/2020

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.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, LLDPE, crude and gaz condensate, PP random copolymer, propylene, ethylene, petrochemistry, UK, Ireland, Canada, Rossiya, USA.
Category:General News
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