BASF is cutting back at its main site in Germany
The company says high energy prices are forcing it to shut plants at its Ludwigshafen complex.
High energy prices have already struck a blow to European competitiveness in chemical manufacturing. They are now prompting BASF to lay off thousands of workers and shut down sections of its flagship facility in Ludwigshafen, Germany.
The company, the world’s largest chemical maker, revealed the closures when it announced 2022 financial results on Feb. 24. Sales increased 11%, to $92.5 billion, but this was because of higher selling prices. The company’s sales volumes declined by 7% last year.
BASF posted a loss of about $660 million for the year, mostly owing to charges of $6.7 billion related to its decision to withdraw its Wintershall Dea oil and gas affiliate completely from Russia. Without those charges, the firm’s profits would have been roughly flat compared to 2021...
...The company is closing one of two plants in Ludwigshafen that make ammonia, the largest consumer of natural gas as a raw material at the site. It is also shutting downstream nitrogen fertilizer facilities.
BASF is closing a plant making caprolactam, the key raw material for nylon 6. The caprolactam business had seen a buildup of capacity in recent years, especially in China, and the sharp rise in European energy prices put additional pressure on the business, BASF says...
The carbon intensity of Germany is 411 grams of CO
2 per kwh over the last 12 months. This compares with France's 38 grams CO
2 per kwh over the last 12 months.
Electricity Map.
Wasting carbon dependent electricity for the stupid idea of making hydrogen is a disgusting idea in a time of climate change, but then again, the marketing squads working to rebrand fossil fuels as "hydrogen" lack decency.
Of course, I fully understand that people working to rebrand fossil fuels hate nuclear energy. It would cut into their profits.
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