Episode 1089: Think Tank: New ‘supermajors’ will dominate chemical industry

A new wave of record-breaking sized cracker projects based on technologies such as crude oil to chemicals (COTC) signals the emergence of ‘supermajors’ who may dominate the industry.   -          COTC produces huge volumes of low-cost chemicals-          COTC being developed in Middle East, China, South Korea-          “Supermajors” will harness low carbon technologies -          Options include electric furnaces, carbon capture and storage (CCS)-          Cost-advantaged ethane projects springing up in Abu Dhabi, Qatar, North America-          Disadvantaged regions such as Europe can invest in hydrogen, CCS, recycling, renewables