Italy Petrochemicals Q3 2018
Italy has witnessed a period of petrochemicals capacity reduction in order to respond to changes in the global market,with some plants permanently closed. Versalis has targeted its loss-making operations in Porto Torres, Priolo and Porto Margherawith the closure or downsizing of poorly performing units and the construction of bio-based plants, transforming the company intoa global leader in biochemicals. Helped by lower oil prices, the improvements in Versalis' fortunes has prompted it to refocus on Italy,abandoning a project to make its cracker in Dunkirk, France, into a mixed-feed one and investing in 'green' bio-plastics.
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