Europe downstream news

The Phillips 66 Humber Refinery in the UK is on track to become the first refinery in the world to reduce its carbon dioxide emissions using a technology pioneered by Shell Catalysts & Technologies.

ADNOC and Mubadala have announced a strategic transaction with Borealis, whereby ADNOC will acquire a 25% shareholding in Borealis from Mubadala.

NextChem has completed construction of a demonstration plant in Italy for the chemical recycling of PET and polyester from textiles, as part of the EU's DEMETO project.

Around 110 000 tpy of fossil-based ingredients will be substituted with renewable carbon sources using BASF’s certified biomass balance approach. The measure will ramp up quickly and avoid around 200 000 t of CO2 emissions in total.

The EU Fund announced a grant decision of €88 million to Neste’s clean hydrogen project in Porvoo, Finland.

The agreement, which was signed in October 2021, has now been approved by regulatory authorities.

Neste is conducting a feasibility study to examine investing in capacity for processing liquefied waste plastic at its refinery in Porvoo, Finland, where the company are working on commercialising the chemical recycling of waste plastic.

The three companies have signed an MoU for the exploration of potential petrochemical growth or expansion projects in Central and Eastern Europe.

Maire Tecnimont’s subsidiary, Tecnimont S.p.A. has been awarded the contract by Covestro.

The company has taken on the BOG management services at an LNG storage facility located in Ravenna, Italy.