MOSCOW (MRC) -- The biggest U.S. oil and gas trade association released new industry guidelines for energy companies to track and report greenhouse gas emissions in an effort to address the sector's carbon footprint, said Hydrocarbonprocessing.
The American Petroleum Institute, which includes Exxon Mobil Corp and Chevron Corp, said the framework aims to standardize the way companies log emissions, including flared natural gas, and prompts them to voluntarily disclose those details publicly. "The template aims to provide a consistent and uniform set of core GHG (greenhouse gases) indicators to enable greater comparability in climate-related reporting," API said in a statement.
API's guidelines follow plans by the U.S. Securities and Exchange Commission to introduce new climate-mitigating rules as it steps up environmental, social and governance (ESG) disclosures.
The API in March said it would endorse carbon-price policy, easing its previous resistance to regulatory action on climate change amid a shift in the oil industry's strategy on the issue and the new U.S. presidency.
As per MRC, Maire Tecnimont S.p.A. announced that a consortium composed of its subsidiaries Tecnimont S.p.A. and Mumbaibased Tecnimont Private Limited has been awarded an EPCC (Engineering, Procurement, Construction and Commissioning) Lump Sum contract by Indian Oil Corporation Limited (IOCL), for the implementation of a new polypropylene plant and the related product logistics facilities.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.
MRC