The United States oil and gas rigs in operation have reduced by 59.49 %, according to data by Bankr, a portal for finance and investment. The portal’s research also provided an insight into the future outlook of the oil industry.

With the takeover, Lyondell Basell and Suez will increase its plastics recycling capacity at its joint venture firm Quality Circular Polymers to approximately 55,000 tonnes per year. The move also enables Lyondell Basell's ambition to produce 2 million tonnes per year of recycled and renewable source-based polymers by 2030.

Under a strategic partnership signed between Royal DSM and Neste, DSM will help Neste to create high-performance sustainable polymers in order to reduce the carbon footprints of its own products and also support the circular economy transition.

The German Chemical Industry Association (VCI) has revealed that in the chemical-pharmaceutical industry production fell by 3 % year-on-year and turnover dropped by 6 % in the backdrop of the corona crisis.

Ineos Olefins and Polymers USA has acquired Sasol’s 50 % stake to become 100 % owner of the Gemini HDPE facility in Texas, USA. The move is expected to increase the Ineos Group’s global HDPE market share.

By 2025, Exxon Mobil intends to reduce the intensity of upstream greenhouse gas emissions by 15 – 20 %, methane intensity by 40 –50 % and flaring intensity across its global operations by 35 –45 %. The company’s new emission reduction plans are in line with the goals of the Paris Agreement.

Trinseo’s takeover of Arkema’s polymethyl methacrylates and activated methyl methacrylates business is key to the company’s strategy of transforming its portfolio to a specialty solutions provider. The move is also expected to enable the firm to concentrate on future PMMA growth markets.

Grön Fuels has selected Haldor Topsoe’s H2bridge bio-hydrogen and hydroflex technology for its new multi-billion low carbon intensity complex in Louisiana, USA. Once completed, the mega facility is expected to produce 60,000 barrels per day of renewable diesel.

Under a MOU signed between Linde and Snam, both the companies will promote key technologies used across the hydrogen value chain and also develop joint investment opportunities in commercial projects.

Jose Carlos Corral Montilla has succeeded Dr. Marko Grozdanovic to become BTC Europe’s new Managing Director and Vice President. The company is BASF’s European sales organisation which focuses on specialty chemicals.