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COVID-19 - News digest as of 08.09.2020

September 08/2020

1. LG Chem targets zero major environmental, safety accidents from 2021

MOSCOW (MRC) -- LG Chem says it will establish a "global standard" for environmental safety and expand it to the company"s business sites worldwide. LG Chem has also announced that it will reestablish its environmental safety standards for all its business sites globally and considerably strengthen its management system, said Chemweek. LG Chem says that it is currently activating its M-Project, a large-scale safety initiative involving in-company environmental safety and process technology experts, as well as external agencies specialized in related fields, with the goal of achieving zero major environmental and safety accidents from 2021. The decision to execute the project followed the company"s announcement in May that it would carry out safety inspections at all its sites worldwide following recent accidents in India and South Korea.

2. Johnson Matthey signs supply agreement with US biopharmaceutical firm

MOSCOW (MRC) -- Johnson Matthey (JM; London, UK) says it has entered into a five-year supply agreement with Sarepta Therapeutics (Andover, Massachusetts), a biopharmaceutical company, said Chemweek. According to the terms of the agreement, JM will continue to provide regulatory starting materials to support Sarepta�s programs for phosphorodiamidate morpholino oligomer (PMO) and peptide phosphorodiamidate morpholino oligomer (PPMO), used for the treatment of Duchenne muscular dystrophy, the company says. JM�s innovator products and solutions business that provides custom development and manufacturing (CDMO) services will produce these synthetic regulatory starting materials at its facilities at West Deptford, New Jersey, and Devens, Massachusetts, using their commercial-scale production trains, the company says.

3. ExxonMobil, Chevron may write down big chunk of reserves if weak prices persist

MOSCOW (MRC) -- Low commodity prices and deep spending cuts in the first half of 2020 could lead US supermajors ExxonMobil and Chevron to write down huge chunks of their proved oil and natural gas reserves if prices remain depressed in the second half, reported S&P Global with reference to recent SEC filings. In a 10-Q filing, ExxonMobil said Aug. 5 it could write down as much as 20% of its proved reserves, which totaled 22.4 billion barrels of oil equivalent at year-end 2019, thus implying a nearly 4.5 billion boe write-down. If low prices persist for the rest of the year, "certain quantities of crude oil, bitumen, and natural gas will not qualify as proved reserves at year-end 2020," ExxonMobil said.

4. DSM forms JV to produce facemasks, components in Netherlands

MOSCOW (MRC) -- DSM says it has formed a 50/50 joint venture (JV) with VDL Groep (Eindhoven, Netherlands), called Dutch PPE Solutions, to produce medical facemasks and establish the first permanent production of critical facemask components in the Netherlands, said Chemweek. The companies are investing several million euros to purchase manufacturing equipment and build manufacturing facilities to produce meltblown polypropylene (PP), the critical material layer in medical facemasks that filters viruses, and make medical masks, DSM says.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PP block copolymer, homopolymer PP, PP random copolymer, medical supplies, Medicine, netkanie materiali, petrochemistry, spanbond / meltblown, Chevron, Chevron Phillips, DSM Engineering Plastics, Exxon Mobil, LG Chem, COVID-19.
Category:General News
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