A massive Pennsylvania plastics project, owned by Shell, that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook, an energy industry report said on Thursday.
Pandemic exposes cracks in oil majors’ bet on plastic
Joe Brock: JUNE 4, 2020
SINGAPORE (Reuters) – The energy industry’s bet that a petrochemicals boom would support decades of oil and gas sales growth is on shaky ground as an already saturated plastic market is hit by a coronavirus demand shock.
While soaring demand for personal protective equipment and takeaway food containers has boosted sales of some plastics, it is likely to be only a temporary spike, say analysts.