PlasticsEdge™ Lead Generation Program: Call 978-342-9000 for details or email [email protected]

Plastics-Industry-Business-Today-Petrochemicals-Future-Big-Oil

Plastics and petrochemicals are the future of Big Oil – there is hardly any question about that if by future we mean the distant future. There is still no consensus – and there won’t be any time soon – about when exactly peak oil demand will descend upon the oil industry, but most forecasters seem to give the industry another few decades of drawing the bulk of their income from selling fuels. After that, it will be plastics and petrochemicals.

Big Oil is already preparing, and it’s not alone. The world’s biggest oil company in terms of reserves, Saudi Aramco, has been very active in seeking refining and petrochemicals projects to invest in as part of its efforts to secure long-term demand for its crude and maximize its value as well.

Indeed, focusing on plastics and petrochemicals is the only way forward for oil companies if we’re talking about their core business, excluding a shift to renewable energy. It’s the only way, but a threat awaits oil companies who take that path: the fight against single-use plastics.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Packaging Growth Points to Strong 2019

Plastics Technology — As the plastics industry adjusts to 2018’s...

Townsend Solutions named as first SPE Preferred Partner

Canadian Plastics — Plastics industry analyst and education provider...

Amazon’s plastic packaging jamming up recycling centers

Amazon.com Inc. — Over the last year, Amazon.com Inc. has reduced...

Toray Plastics (America) expands OPP film production

North Kingstown, RI — Toray Plastics (America) Inc. is investing in...

Scientists discover a better way to make plastics out of sulfur

Phys.org — Scientists at the University of Liverpool have discovered...

Washington’s plastic-straw cop

Anchorage Daily News — WASHINGTON - Warning letters in hand, Zach...

What if plastic could cure cancer?

Moscow - Plastics Today — I’ve heard people in the plastics industry...

Finnish study to employ plastic-eating bugs in fight against marine litter

Finland - PNE — The burning issue of ocean litter may be a step...

Science shows that it’s not really green to ban plastic bags

NY Post — As if grocery shopping weren’t enough of a hassle, it’s...

Making plastics digestible

Swindon, UK — In 2016, Recycling Technologies was part of the first...