Russian oil embargo to spur problems / End of gas shipments would be worse
Forgoing Russian oil will be “no walk in the park” for chemical producers in Europe’s largest economy, according to German chemical industry association VCI (Frankfurt;

In comments made just before the EU proposed a ban on oil from Russia, VCI managing director Wolfgang Große Entrup noted that the possibility of an embargo has been clear, and he warned that “the competitiveness of the industry is becoming more and more burdened.”

Related: Participate in PIE’s flash survey on Russia’s natural gas supplies

The chemical industry lobbying group conceded that an embargo on Russian oil would not present the industry with “as serious a problem for the supply of raw materials” as a halt in natural gas deliveries. The crude oil component naphtha, which is particularly important for companies in the chemical industry, is available on the world market from various regions. “Delivery via pipeline or tanker is established, but there are still problems to be solved regarding logistics within Germany, especially to supply eastern Germany,” the association wrote.

According to its own reporting, the chemical and pharmaceutical industry in Germany processes about 14 mn t of naphtha annually, some of which is used for the production of plastics (see of 17.03.2022).
09.05.2022 [250213-0]
Published on 09.05.2022
VCI: Ölembargo wird „kein Spaziergang“ für die BrancheGerman version of this article...

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