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A high carbon tax could erode up to 60% of Asia’s total refining earnings by 2027, says Wood Mackenzie, at the Global Energy Summit Focus Week.
The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”
Steve Jenkins, vice president of Wood Mackenzie’s petrochemicals team, comments on this morning’s announcement from BP that it is selling its petrochemicals business to INEOS in a US$5 billion deal.
Commenting after Shell announced its intention to become net-zero company by 2050, Luke Parker, vice president, corporate analysis, at Wood Mackenzie, said: “This is an evolution of the net carbon footprint ambition that Shell unveiled in November 2017.
Commenting on the announcement that INEOS has approved a €2.7 billion capital project to build both a world scale ethane cracker and a PDH (Propane Dehydrogenation) unit in Northern Europe, Patrick Kirby, PCI Wood Mackenzie Principal Analyst, said:
Commenting on the UK Government's plans to introduce a plastic bottle deposit scheme, Helen McGeough, PCI Wood Mackenzie, Senior Consultant, commented:
Follwoing the EU's pledge to make all plastic packaging recyclable by 2030, Helen McGeough, PCI Wood Mackenzie Senior Consultant, commented
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