From black gold to green goals

WITH the global green transition, the petroleum industry’s days could be numbered – but in the meantime, local petrochemical company Fortrec Group is helping refineries shrink their carbon footprint, and gunning for a topline of US$300 million by 2026.

Since 2005, the company has used a proprietary process to distil “refinery bottoms” – one of the by-products of oil refining – into industrial solvents. Now, it can also precisely calculate the carbon emission savings from doing so.

“Science and mathematics have reached a level where we can now quantify the carbon emission reduction,” group chairman Wilson Chew told The Business Times. Being able to put a firm number to this has resulted in more interest from refineries seeking to report such reductions, he added.