Pryme restarts Rotterdam PPO plant

Spanish Market: Petrochemicals
19/06/25

Dutch plastic-derived pyrolysis oil (PPO) producer Pryme has restarted output at its Rotterdam site, and by this morning had produced 25t of PPO since 18:00 local time on 18 June.

The output marks a successful restart since the operation, Pryme One, shut down on 29 April because of a leaky discharge valve.

The Pryme One site has an input capacity of 26,000 t/yr. Pryme reduced its second quarter production guidance to "up to 250t" from "750-1,250t" following the shutdown.

Pryme previously limited operations at the site in March, after vibrations caused a shutdown.

In its 2024 annual report the company said that it had originally aimed for production goals of a little below 7,000t of PPO for 2025. Since the leak on 29 April the firm guided production of 1,500-2,000t for the third quarter and 3,000-4,000t for the fourth quarter in its first-quarter results, published on 6 May, adding that "production is expected toward the lower end of each range unless further improvements are realised".

By George Barsted

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17/07/25

Brazil's Cade clears Braskem stake transfer

Sao Paulo, 17 July (Argus) — Brazil's antitrust watchdog Cade approved without restrictions the sale of Novonor's stake in petrochemical major Braskem to investment fund Petroquimica Verde, controlled by businessman Nelson Tanure. Initially disclosed in May , the R7.7bn ($1.38bn) deal involves the transfer of shares held by NSP Investimentos, a Novonor vehicle that owns 50.1pc of Braskem's voting capital. With the regulatory green light, the transaction now enters a 15-day legal window for third-party comments or potential review by Cade. The possible shift in control of Braskem, one of Latin America's largest petrochemical companies, could mark a strategic turning point. Petroquimica Verde, which has expressed interest in expanding its footprint in the sector, would assume the company's leadership if the deal is finalized. Despite the favorable ruling, key hurdles remain. Brazil's state-controlled oil company Petrobras, which holds approximately 47pc of Braskem's voting shares, has a right of first refusal. Additionally, unresolved issues related to financial liabilities and environmental claims, such as the land subsidence case in Maceio , in northeastern Alagoas state, continue to generate uncertainty in the market. Investors are closely monitoring the process. A change in ownership could bring shifts in governance and corporate strategy, potentially impacting the performance of Braskem's shares traded on the Sao Paulo stock exchange B3, the New York Stock Exchange NYSE and Madrid's Latibex exchange. Braskem's sale is critical for Novonor, which intends to use any proceeds to repay R14bn ($2.47bn) in debt to creditors. Novonor — formerly known as Odebrecht — is currently undergoing a judicial recovery process. Braskem is the largest producer of thermoplastic resins in the Americas and a leader in biopolymer production. Tanure, a Brazilian entrepreneur known for acquiring and restructuring distressed companies, has been involved in high-profile investments in sectors including energy and real estate. His portfolio includes stakes in power company Light, real estate firm Gafisa and independent oil company Prio. Braskem reported a first quarter profit of $114mn on 12 May, recovering from a $273mn loss a year earlier and a $967mn loss in the fourth quarter of 2024. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

New tariff threat could disrupt Mexico GDP outlook

16/07/25

New tariff threat could disrupt Mexico GDP outlook

Mexico City, 16 July (Argus) — Mexico's association of finance executives IMEF held its 2025 GDP growth forecast steady at 0.1pc in its July survey but warned the outlook could deteriorate if the US raises tariffs to 30pc. The survey of 43 analysts maintained projections for year-end inflation at 4pc and for the central bank's benchmark interest rate to fall from 8pc to 7.5pc by the end of 2025. The sharpest variation came in formal employment, after Mexico's social security administration IMSS reported a net loss of 139,444 formal jobs in the second quarter. IMEF cut its 2025 job creation forecast to 160,000 from 190,000 in June — the seventh and largest downgrade this year. Job losses increased in April, May and June, "a situation not seen since the pandemic in 2020," IMEF said. "If this trend is not reversed, the net number of formal jobs could fall to zero by year-end." "It is still too early to call it a recession, but the rise in job losses is worrying," said Victor Herrera, head of economic studies at IMEF. "The next risk we face is in auto plants. Some halted production after the 25pc US tariff was imposed in April. They did not lay off workers right away — they sent them home with half pay. But if this is not resolved in the next 60-90 days, layoffs will follow." The July survey was conducted before US president Donald Trump said on 12 July he would raise tariffs on Mexican goods from 25pc to 30pc starting 1 August. "What we have seen in the past is that when the deadline comes, the tariffs are postponed or canceled," Herrera said. "Hopefully, that happens again. If not, you can expect GDP forecasts to shift into contraction territory." While the full impact would vary by sector, Herrera said the effective average tariff rate would rise from 4pc to 15pc, with most exports either exempt or subject to reduced rates under regional content rules. But 8–10pc of auto exports would face the full 30pc duty. IMEF expects the peso to end 2025 at Ps20.1/$1, stronger than the Ps20.45/$1 estimate in June. But the group warned that rising Japanese rates — which influence currency carry trades — and falling Mexican rates could put renewed pressure on the peso once the dollar rebounds. For 2026, the GDP growth forecast dropped to 1.3pc from 1.5pc, while the peso is seen ending that year at Ps20.75/$1, slightly stronger than the previous Ps20.90/$1 forecast. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Alt-fuel ship orders fall in 1H25: DNV

15/07/25

Alt-fuel ship orders fall in 1H25: DNV

Sao Paulo, 15 July (Argus) — Ship orders for new alternative-fuelled vessels fell to 151 in the first half of 2025 compared with 179 a year earlier, according to Norway-based classification agency DNV. These orders represented 19.8mn gross tonnes, up by 78pc from the same period in 2024. LNG-fuelled vessels accounted for 87 of the new orders in the first half, followed by 40 methanol-fuelled ships, 17 LPG-powered vessels, and four hydrogen and three ammonia-fuelled ships. Orders stood at 19 in June, up from 16 in May, with two of these LPG-fuelled carriers. The total fleet of ships that could run on LPG stood at just over 150 in the final quarter of last year , with around 126 on order by 2028 following the latest additions, as orders lag other fuel types despite low prices because of safety issues and a lack of four-stroke engines. New orders, 1H 2025 Fuel Number of vessels LNG-fueled 87 Methanol-fueled 40 LPG-fueled 17 Hydrogen-fueled 4 Ammonia-fueled 3 DNV Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU chemical plan neglects immediate pressures: Ineos

15/07/25

EU chemical plan neglects immediate pressures: Ineos

London, 15 July (Argus) — The EU's new chemical industry plan fails to respond to key immediate pressures on Europe's industry, UK-based Ineos had said. These pressures include the high cost of natural gas and the growing cost of carbon emissions, it said. The European Commission proposed its European Chemicals Industry Plan on 8 July to help the EU sector tackle high energy costs, global competition and weak demand. The commission said its plan could save the sector €363mn/yr. Without action, the competitiveness of European industry may erode, and investment may shift elsewhere, Ineos said. It said its integrated petrochemicals facility in Cologne, Germany, costs €240mn/yr ($280mn) more to operate than it would in the US because of the higher gas, electricity and carbon bills in Europe. More than 20 chemical plants have closed in Europe in the past two years, according to Ineos. "Immediate reduction of gas pricing and removal of carbon costs must be the next step if we are serious about maintaining a chemical industry in Europe." Ineos said. The European Chemical Industrial Council (Cefic) said the Chemical Industry Action Plan is an important step towards improving the competitiveness and resilience of the EU chemical industry. "Co-ordinated action by member states is now urgently needed to turn this signal into results," it said. "Each day of inaction further weakens European industry." By Tim van Gardingen Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mass-balance consultation questions remain: BlueAlp

11/07/25

Mass-balance consultation questions remain: BlueAlp

London, 11 July (Argus) — Some uncertainty remains over the correct interpretation of the draft of rules governing the inclusion of chemically-recycled plastics towards EU recycled content targets, BlueAlp chief executive Valentijn De Neve told Argus , but he said that an initial reading threw up some encouraging signs and some concerns. The European Commission opened a public consultation on a draft update of the implementing decision for the Single-Use Plastic Directive (SUPD) — which would provide details on how the 25pc recycled content requirement for PET beverage bottles can be met — on 8 July. It includes proposed rules around the use of mass-balance accounting to allocate chemically-recycled content. It is seen by many in the industry as a likely precedent for the rules that will apply to the EU's Packaging and Packaging Waste Regulation (PPWR), which will become the primary legislation governing recycled content targets for plastic packaging from 2030. De Neve said that he is still looking to understand the full connotations of the draft document put forward by the commission. At first reading he is encouraged that it appears to open up the possibility of plastic-derived pyrolysis oil (PPO) being processed in existing assets — refineries — as well as on-purpose upgrading facilities. This is "key in getting [the PPO market] to a realistic and larger market, and to fulfil the sustainability criteria that we've jointly set", he said. De Neve expressed some possible reservations on whether recognition of what share of input "really translates into circular plastics versus what becomes fuel" when the supply chain includes a refinery step has been "sufficiently captured" in the draft. But he said that he would discuss this within the Chemical Recycling Europe industry association, which would co-ordinate a response to the consultation. De Neve also said that the proposed extension of the definition of post-consumer plastic waste to include waste from products placed in non-EU markets — which would enable recyclates based on non-EU waste to count towards the recycled content targets — risks attracting import pressure from producers in lower-cost regions without sufficient additional controls. "We need to make sure… whether you're operating inside or outside the EU, that the same rules apply and it's a level playing field", he said. PPWR contains a so-called "mirror clause" stating that recyclers from outside the EU should be held to the same environmental standards as domestic operators. But no such clause exists in the SUPD, or elsewhere in the draft implementing decision released under consultation. By Will Collins Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Pryme restarts Rotterdam PPO plant

Related news posts

Brazil's Cade clears Braskem stake transfer

Brazil's Cade clears Braskem stake transfer

New tariff threat could disrupt Mexico GDP outlook

New tariff threat could disrupt Mexico GDP outlook

Alt-fuel ship orders fall in 1H25: DNV

Alt-fuel ship orders fall in 1H25: DNV

EU chemical plan neglects immediate pressures: Ineos

EU chemical plan neglects immediate pressures: Ineos

Mass-balance consultation questions remain: BlueAlp

Mass-balance consultation questions remain: BlueAlp

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