South Korea Expands VOC Controls and Tightens Limits
South Korea’s Ministry of Environmental (MoE) recently revised the country's enforcement rules on volatile organic compounds (VOCs), under the Clean Air Conservation Act.The revisions include:- Expand existing requirements that mandate companies to monitor VOC emissions and record them;- Adding 11 substances to the list of VOCs that must be monitored and collected under the Act;- Imposing a maximum limit of 67% VOC content in paints; and- Impose stricter requirements on crude oil refining facilities, which emit arsenic acids.The ministry believes this implementation will reduce VOC emissions from the oil refining and paint industries by 15%.
Chevron Awards Schlumberger 20-year Offshore Contract
Oil and energy Chevron has awarded Schlumberger a twenty-year contract for offshore projects in Gulf of Mexico. Schlumberger will provide the underwater equipment and services for Chevron's offshore projects in the area.
Subsea Valve Actuator Increases Energy Efficiency
Bosch Rexroth’s subsea valve actuator (SVA), a new concept for underwater actuators which offers SIL3 safety levels and up to 75% lower energy consumption, has been granted a Mechanical Engineering Design Award.
Yara Signs New Credit Facility to Meet Carbon Target
Yara has signed a 1,100 million USD, five-year revolving credit facility (RCF) with two one-year extension options. The facility has been signed by a group of 13 international relationship banks, reflecting Yara’s global footprint.The margin under the Facility will be adjusted based on Yara’s progress to meet its carbon intensity target by 2025:By introducing a sustainability link in its RCF, Yara highlights its commitment to reduce the carbon footprint of its fertilizer production activities.The production of mineral fertilizer contributes to GHG emissions.
Texas Passes Bill to Advance Chemical Recycling
Texas has become the sixth state to pass legislation to improve and enhance advanced plastics recycling and recovery technologies, which would convert post-consumer plastics into raw materials using in chemical recycling processes.The Texas Legislature passed the HB 1953 bill and it was signed into law by Governor Greg Abbott.