New PE Resin from Exxon-Mobil Targets e-Commerce and LyondellBasell Look to Scale Circularity
In 2022, oil and gas companies are moving quickly to consolidate long-term growth strategies around circularity and advanced recycling in both Europe and North America. Plus, industry stakeholders in the mechanical recycling segment begin to draw lines.
In a few years, flexible packaging analysts may look back at 2022 as a transformative year when advanced recycling and circularity infrastructure investments took hold. Recently, many oil and gas companies are diversifying product lines and looking hard at advanced recycling technologies, while large investment funds drive mechanical recycling developments in the hope of producing more post-recycled content.
One example is LyondellBasell, a global energy company in the petrochemical industry, which recently announced its Houston refinery is up for sale, and that the company will be closing the facility by the end of 2023.