Petroleum companies face a challenging landscape, requiring a balance between reducing costs, improving efficiency, and adopting advanced technologies to remain competitive. Sustainability is crucial, with efforts to decarbonize, adopt circular solutions, and reduce environmental impacts gaining momentum. Gas-linked chemicals like ammonia and methanol have faced production declines due to reduced gas supply, while geopolitical factors and high costs demand greater resilience. Investments in recycling technologies, such as feedstock recycling and PET monomer recycling, signal progress in circularity, aided by collaborations across the value chain. Companies must streamline portfolios, target high-growth products, and explore emerging markets for demand. Mergers and acquisitions, paired with digitalization and operational excellence, offer opportunities to build resilient and efficient organizations amid volatile market conditions.
https://www.chemicalindustryreview.com/news/navigating-the-future-of-petrochemicals-nwid-162.html