City Oil Field signs Korea’s 1st export deal for recycled naphtha feedstock

City Oil Field, a company specializing in technologies that convert waste plastics into high-quality oil, said Friday that WAVE Jeongeup and Trafigura have signed a sales contract covering the entire output of naphtha-grade recycled feedstock produced at the former. WAVE Jeongeup is a facility that uses City Oil Field’s proprietary noncombustion low-temperature pyrolysis technology. The company said the deal marks the first overseas export of recycled feedstock produced with Korean-developed technology, signaling the beginning of its efforts to build a global supply chain. According to the company, the agreement also marks the first export of ISCC PLUS-certified, naphtha-grade recycled feedstock made from waste plastics to a global commodities company such as Trafigura. The company said the deal goes beyond conventional plastic recycling, as recycled feedstock produced with Korean-developed technology has been incorporated into a global petrochemical supply chain. It added that the global recycled naphtha market has so far been dominated by Northern European and major global energy comWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times