Despite near-tripling in plastic waste collection by 2050, the limited availability of cost-effective substitutes for oil feedstock means that oil demand for petrochemicals remains resilient
In addition, IOCL, BPCL and HPCL signed a pact to carry out pre-project activities for setting up refinery-cum-petrochemical complex with 60 MMTPA capacity in Maharashtra
The contract, worth CZK 700 million (about $ 29 million), is part of new polyethylene unit project (PE3), the biggest investment in the history of the Czech petrochemical industry