[Overseas News] ADNOC Signs Cooperation Agreement! Aduro to Build the World's First Industrial-scale Chemical Recycling Plant

International News Highlights

Major Enterprise News - ADNOC and TAQA Sign 27-Year Utility Cooperation Agreement

Recycling News - Aduro to Build World’s First Industrial Chemical Plastic Recycling Plant in the Netherlands

Packaging News - Amcor Showcases Rigid & Flexible Packaging Solutions at International Packaging Innovation & Processing Exhibition

Medical News - Innovation in Minimally Invasive Device Materials! Confluent Enables Custom PTFE/Polyimide Tubing

Macro News - Venezuela’s Acting President Signs and Enacts Oil and Gas Law Reform Bill

Price Information - RMB/USD Central Parity Rises 93 Pips to 6.9678

International News Details

1. ADNOC and TAQA Sign 27-Year Utility Cooperation Agreement

Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (TAQA) have signed a 27-year utility cooperation agreement, building a stable and reliable infrastructure system for the production of world-class chemical products and transition fuels at the Ta’ziz Industrial Chemicals Zone in Ruwais.

ADNOC and TAQA PJSC announced the official signing of a 27-year Utility Procurement Agreement, which will provide comprehensive support for the development and operation of the Ta’ziz Industrial Chemicals Zone in the Ruwais Industrial City of Abu Dhabi. This signing marks a crucial step for the UAE to scale up the production of world-class chemical products and transition fuels, further consolidating the country’s blueprint for industrial development and economic diversification.

The 27-year agreement covers both the construction phase of utility infrastructure and the long-term procurement of core utility services required for the efficient and stable operation of the zone.

2. Innovation in Minimally Invasive Device Materials! Confluent Enables Custom PTFE/Polyimide Tubing

To help medical device original equipment manufacturers (OEMs) better control the performance of the polymer tubing they procure, Confluent Medical Technologies has officially launched the Filmcast Select customization solution. In an announcement on January 28, the company stated that this material customization service allows customers to independently select core performance indicators for Filmcast polytetrafluoroethylene (PTFE) and polyimide tubing.

Confluent pointed out that traditional Filmcast polymer tubing processes offer almost no customization for device manufacturers. However, as medical procedures trend toward minimal invasiveness, devices are becoming smaller and more complex in design, making this one-size-fits-all approach increasingly inadequate.

The Filmcast Select customization solution addresses this key industry pain point, enabling OEMs to select relevant properties of Filmcast PTFE and polyimide tubing—including flexibility, strength, durability, surface finish, compliance and optical clarity—based on the core needs of their specific applications.

3. Aduro to Build World’s First Industrial Chemical Plastic Recycling Plant in the Netherlands

Aduro Clean Technologies is a clean technology company that leverages chemical technology to convert low-value feedstocks such as waste plastic, heavy asphalt and renewable oils into 21st-century new resources. The company recently announced the selection of the Chemelot Industrial Park (CIP) in Sittard-Geleen, the Netherlands, as the construction site for its planned industrial-scale expansion facility.

The world’s first-of-a-kind (FOAK) industrial plant will be built in the park, featuring hydrochemical depolymerization technology for chemical plastic recycling. The technology has completed pilot-scale validation, and the facility was previously referred to as a demonstration unit in the company’s public disclosures.

This first industrial plant represents a critical stage for Aduro’s march toward commercial operation. Following the successful completion of its initial operation, the company will carry out phased capacity expansion and process optimization on an ongoing basis.

4. New Chemomechanical Process: Removes Pigment from Recycled Plastic and Restores Its Performance

Recently, researchers from the Department of Chemical Engineering at Worcester Polytechnic Institute and the University of Akron published a research paper on a new technology in the Chemical Engineering Journal. The technology aims to solve long-standing challenges in plastic recycling that result in the vast majority of plastics being single-use, thereby exacerbating plastic waste accumulation.

Currently, the global plastic recycling rate is less than 20%. Boosting this rate requires overcoming multiple challenges, including irreversible performance loss during recycling, limited compatibility of plastic blends, discoloration and residual toxic chemicals.

5. Amcor Showcases Rigid & Flexible Packaging Solutions at Packaging Innovations & Processing 2026

From February 11 to 12, 2026, Amcor will participate in Packaging Innovations & Processing 2026 held at the National Exhibition Centre in Birmingham, showcasing its enriched and upgraded portfolio of rigid and flexible packaging solutions.

At the exhibition, Amcor will have two opposing booths at E40 and F40, allowing visitors to access the company’s integrated full range of rigid and flexible packaging products in one stop. A diverse range of solutions will be on display, covering rigid cups, bottles and containers, as well as flexible films, bags and wrapping films. The exhibition will intuitively demonstrate how brands can streamline and improve the efficiency of their product development processes by partnering with a single professional supplier and procuring multi-form packaging in one stop.

Overseas Macro Market

U.S. and Mexican Presidents Hold Phone Talk on Trade and Security Issues

U.S. President Donald Trump stated on social media on the 29th that he had a "productive" phone call with Mexican President Claudia Sheinbaum the same day, during which the two sides discussed issues including border affairs, the crackdown on drug smuggling and trade.

Trump said the call was "very beneficial" for both countries, adding that the two sides would talk again soon and ultimately arrange a meeting.

Zelenskyy: Ceasefire for Energy Infrastructure to Take Effect from the Night of the 29th

Sources reported on the 29th that Zelenskyy stated the same day that a ceasefire agreement for energy infrastructure would take effect from the night of January 29. U.S. President Donald Trump said at a cabinet meeting that due to cold weather, he had "asked Russian President Vladimir Putin not to launch attacks on Ukraine’s capital Kyiv and other towns for a week". Trump claimed that Putin had "agreed". At present, the Russian side has not yet responded to this.

Venezuela’s Acting President Signs and Enacts Oil and Gas Law Reform Bill

Venezuela’s Acting President Delcy Rodríguez signed and enacted the oil and gas law reform bill on January 29 local time. In a speech, she stated that Venezuela will continue to advance the reform of the oil and gas industry, welcome domestic and foreign investment to participate in the development of the oil, natural gas and petrochemical sectors, and at the same time, establish a sovereign fund to direct more benefits from energy development to improving people’s livelihood and upgrading infrastructure.

Rodríguez pointed out that Venezuela’s oil and gas sector is open to the outside world, and no multinational energy enterprise is excluded from industrial cooperation. She said the government welcomes both foreign and domestic capital to jointly drive the productive development of the energy industry.

Rodríguez also announced that Venezuela is about to complete its first-ever liquefied petroleum gas (LPG) export. Relevant transport vessels have arrived in Venezuela and will set sail in the near future, marking an important step in the development of the country’s energy industry.

Cuba’s Official Denies Fuel Shortage Rumors: Gas Stations Remain Open

According to CCTV News, sources reported on January 29 local time that in response to social media rumors of a "fuel supply disruption in Cuba", Cuba’s state-owned oil company issued a statement refuting the claims, clearly stating that fuel supply at domestic gas stations is normal and sales have not been suspended. It also advised the public to obtain the latest information through its official website. The statement was also reposted and supported by Cuba’s Ministry of Energy and Mines.

Iran Strongly Condemns EU’s Listing of IRGC as a "Terrorist Organization"

Iran’s Ministry of Foreign Affairs and the General Staff of the Armed Forces issued separate statements on the 29th, strongly condemning the European Union’s listing of the Islamic Revolutionary Guard Corps (IRGC) as a "terrorist organization".

The Iranian Foreign Ministry’s statement said the move is "illegal, unfounded and deceptive", and constitutes an act against the entire Iranian nation.

Price Information

RMB/USD Central Parity Rises 93 Pips to 6.9678, a New High Since May 16, 2023

The RMB/USD central parity rate was set at 6.9678, up 93 pips; the central parity rate of the previous trading day was 6.9771, the official closing price was 6.9460, and the overnight offshore close was 6.9506.

Upstream Raw Material USD Market Prices

Ethylene: CFR Northeast Asia 700 USD/ton; CFR Southeast Asia 685 USD/ton.

Propylene (Northeast Asia): FOB Korea average 785 USD/ton; CFR China average 835 USD/ton.

North Asia refrigerated cargo CIF: Propane 577-579 USD/ton; Butane 597-599 USD/ton.

South China refrigerated cargo CIF (early March arrival): Propane 613-623 USD/ton; Butane 608-618 USD/ton.

Taiwan refrigerated cargo CIF: Propane 577-579 USD/ton; Butane 597-599 USD/ton.

LLDPE USD Market Prices

Film grade: 830 USD/ton (CFR Xiamen);

Injection molding grade: 910 USD/ton (CFR Xiamen).

HDPE USD Market Prices

Film grade: 910 USD/ton (CFR Huangpu);

Injection molding grade: 800 USD/ton (CFR Huangpu);

Blow molding grade: 785-850 USD/ton (CFR Huangpu);

Pipe grade: 1000 USD/ton (CFR Huangpu).

LDPE USD Market Prices

Film grade: 1025 USD/ton (CFR Huangpu);

Coating grade: 1240 USD/ton (CFR Huangpu).

PP USD Market Prices

Injection molding grade: 840 USD/ton (CFR Dongguan);

Copolymer grade: 870 USD/ton (CFR Nansha);

Film grade: 960 USD/ton (CFR Huangpu);

Transparent grade: 1080 USD/ton (CFR Huangpu);

Pipe grade: 1130 USD/ton (CFR Shanghai).