New concerns join old at petrochemical event

Abstract

After a 2-year hiatus because of the COVID-19 pandemic, the IHS Markit World Petrochemical Conference came back in person in Houston late last month. Just as in meetings before the pandemic, sustainability was high on the agenda. The heads of several of the world’s largest chemical companies outlined their plans to reduce greenhouse gas emissions. But Russia’s invasion of Ukraine made the conference largely about a new crisis, one that is roiling vital oil and gas markets. Despite strict vaccine and COVID-19 testing requirements, more than 1,450 delegates made the trip to Houston, comparable to the 1,500 who attended when the event was held in 2019. The war in Ukraine loomed large over the proceedings. Russia, a major exporter of oil and natural gas, is the subject of possibly the toughest economic sanctions against a country in history. “This is a global commodity shock, the likes we haven’t seen since