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COVID-19 - News digest as of 04.10.2021

October 04/2021

1. Russian idle primary oil refining capacity to revise up 9% in October

MOSCOW (MRC) -- Russia is expected to have 3.464 million tonnes of primary oil refining capacity offline in October, a weekly estimate based on Refinitiv Eikon data and Reuters calculations showed on Friday, up 9.1% from last week's estimate, according to Hydrocarbonprocessing. That is still be lower than the previous month, with many plants expected to finish maintenance. Expected idled refining capacity for September was estimated at 3.943 million tonnes, down 7.9% from last week's estimate. The revisions follow adjustments to maintenance schedules by some refineries.

2. More than a quarter of European PVC plants shut for turnarounds

MOSCOW (MRC) -- More than a quarter of the total production of polyvinyl chloride (PVC) in Europe is currently idle, as plants are shut for scheduled and unscheduled maintenance works, reports Kunststoffweb. The total PVC production capacity in Europe is approximately 8.7 mln tonnes per year. Market players expect that the availability of SPVC is unlikely to improve in October and even until the end of the year. There will be an acute shortage, and prices will continue to rise, as plants continue to be closed due to force majeure and planned shutdowns.

3. Verkhovna Rada of Ukraine registered a bill banning disposable plastic tableware

MOSCOW (MRC) - A bill banning the circulation of disposable plastic dishes, straws, cups and other products has been registered in the Verkhovna Rada of Ukraine, Epravda reports. This is known from the bill №6077. The authors of the document explain that over the past 50 years, global plastic production has increased 20 times and according to forecasts, its volume will double by 2035, and by 2050 - four times. The same trend is observed in Ukraine. Back in 2019, the EU adopted a Directive on the restriction of the circulation of certain disposable products and a ban on products made from oxo-degradable plastics. Most of the bloc countries have already adopted the relevant legislative changes.

4. Petrobras ends talks to sell Refap refinery

MOSCOW (MRC) -- Brazil's state-run oil company Petrobras, formally known as Petroleo Brasileiro SA, said on Friday it had halted talks with Brazilian conglomerate Ultrapar on the sale of the state-run oil company's Refap refinery, part of its program to sell eight plants, reported Reuters. The company said it would relaunch the process of selling Refap in the future but did not provide a date. "Despite the efforts made by both companies in this process, certain critical conditions were not met for an agreement," Petrobras said in a securities filing, adding there would be no penalties for either party. Credit Suisse analysts said the ending of the process was negative for Petrobras, as failing to divest refineries increased the downstream price risk.
Author:Anna Larionova
Tags:petroleum products, PP, PS, PE, containers/disposable tableware, neftegaz, petrochemistry, disposable tableware, disposable packaging, Petrobras, COVID-19, recycling, Ukraine.
Category:General News
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