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Business News: March 2021
March 1, 2021
Plant Watch
Austria’s largest green-hydrogen plant being constructed at OMV refinery
February 16, 2021 OMV AG (Vienna, Austria; www.omv.com) and infrastructure bank Kommunalkredit Austria AG announced a joint €25-million investment in the construction of Austria’s largest electrolysis plant at OMV’s Schwechat petroleum refinery. The 10-MW electrolysis unit will produce up to 1,500 metric tons per year (m.t./yr) of green hydrogen once the plant starts up in 2023. The green hydrogen will be used for the hydrogenation of fuels.
Encina and Flint Hills Resources plan waste-plastic-based fuels and chemicals
February 16, 2021 Encina Development Group, LLC (The Woodlands, Tex.; www.encina.com.) signed a non-binding term sheet with Flint Hills Resources, LLC (Wichita, Kan.; www.fhr.com) to produce renewable chemicals and renewable fuels from waste plastic. The parties may enter into a definitive agreement that includes building a r
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A half dozen or so dignitaries assembled Thursday morning at the site of the IGU’s new North Pole LNG storage and vaporization facility to celebrate both its completion and the opening of its valves to begin distribution of gas to the city’s customers who’ve signed up for the service. North Pole Mayor Mike Welch said the project was a long time coming.
IGU General Manager Dan Britton snips the ribbon at Thursday s ceremony commemorating completion of the utility s new North Pole LNG storage and vaporization facility. From left, borough Mayor Bryce Ward; Keith Hanneman, civil and environmental engineer, PDC Engineers; Jinnel Choiniere, president and CEO, Greater Fairbanks Chamber of Commerce; Britton; Steve Haagenson, chair, IGU board of directors; Mike Miller, IGU board vice chair; and Mike Welch, North Pole mayor.
Global Banking & Finance Review
Petroleum Liquid Feedstock Market is Estimated to Reach a Value of over US$ 366.1 Bn 2027 End – Future Market Insights
Published 1 month ago
In a recently released research intelligence outlook, Future Market Insights forecasts high value-low growth landscape for the global petroleum liquid feedstock market over the course of next few years. The global revenue through consumption of petroleum liquid feedstock will reportedly reach around US$ 270 billion in 2019, demonstrating an estimated yearly revenue growth of 3.6% over that attained in 2018.
A steady upsurge in the demand for petroleum liquid feedstock is expected in coming years owing to a positive expansion outlook reflected by the global petrochemicals industry.
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