EU Approves Acquisition Of Nova Chemicals By Adnoc And OMV - Canadian Plastics

EU Approves Acquisition Of Nova Chemicals By Adnoc And OMV - Canadian Plastics

Nova’s film recycling plant in Connersville, Ind. Photo Credit: Nova Chemicals Corp. The European Commission (EU) has approved, without conditions, the acquisition of Calgary-based material supplier Nova Chemicals Corp. by Borouge Group International, a company being created through the merger of petrochemical giants OMV and Abu Dhabi National Oil Co. (Adnoc). The deal, first announced in March, is part of a broader merger plan that also involve…

EU Commission sets out chemical recycling mass-balance accounting approach - RECYCLING magazine

It added that “the calculation methodology will serve as a model for future recycled content rules in other sectors, such as packaging, automotives and textiles. This approach is designed to give investors confidence in the long-term stability and potential of these technologies.” Mass-balance acceptance is seen as a key enabler for chemical recycling – in particular pyrolysis oil, given that pyrolysis oil is used as a naphtha substitute in crac…