STOCKHOLM, Oct. 23, 2020 /PRNewswire/ -- The conversion of Preem's refinery in Lysekil has begun. In the latest update to the refinery's environmental permit, Preem will apply to establish the capacity for the large-scale production of renewable fuels at the refinery, which is estimated to reduce climate emissions by up to 1.7 million tons annually.
Preem has launched a new project to rebuild the Lysekil refinery to become Scandinavia's largest producer of renewable fuels.
In an initial phase, Preem plans to carry out a redevelopment of the existing Synsat plant, which today produces environmental class 1 diesel. The redevelopment of the Synsat plant will increase Preem's renewable diesel production by 650,000-950,000 cubic meters annually, which is as much as two to three times higher than today's renewable production capacity at Preem's refinery in Gothenburg.
"Preem's main priority is to begin large-scale renewable production at the refinery in Lysekil and we are pleased to announce that we will now take the first, big step in the refinery's renewable conversion," says Magnus Heimburg, CEO at Preem.
The increased renewable production will play a central role in helping Sweden to achieve its climate targets. The conversion is estimated to reduce emissions throughout the value chain by between 1.2-1.7 million tons of carbon dioxide each year, of which the largest reduction will take place in road traffic.
When the conversion is completed, the plant will have the capacity to process up to 40 percent renewable raw materials, with the ambition to reach higher levels in the long term. The project will also mean that the corresponding amount of fossil raw material will be phased out of the Synsat plant.
"Focusing on renewable fuels is a cornerstone of Preem's overall and long-term business strategy," says Heimburg. "The project is a central part of Preem's goal to become the world's first climate-neutral petroleum and biofuel company throughout the entire value chain by 2045, while maintaining our competitiveness."
An application to change the existing environmental permit is planned to be submitted before the end of the year. Investment decisions are planned for the summer of 2021. The plant is expected to be operational by 2024 at the latest.
For more information, please contact:Preem's press team on 070-450 10 01 or at email@example.com.
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(RTTNews) - Ahead of Friday's holiday for Chulalongkorn, the Thai stock market had ended the two-day winning streak in which it had advanced almost 8 points or 0.6 percent. The Stock Exchange of Thailand now sits just shy of the 1,215-point plateau although it may see a mild rebound on Monday.
The global forecast for the Asian markets is mixed to slightly higher, with hopes for stimulus tempered by climbing coronavirus cases. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The SET finished slightly lower on Thursday as losses from the financial shares were offset by support from the energy producers.
For the day, the index dipped 2.87 points or 0.24 percent to finish at 1,213.61 after trading between 1,204.73 and 1,223.48. Volume was 24.047 billion shares worth 66.255 billion baht. There were 850 decliners and 558 gainers, with 489 stocks finishing unchanged.
Among the actives, Advanced Info fell 0.29 percent, while Thailand Airport tumbled 1.82 percent, Asset World shed 0.66 percent, Bangkok Bank lost 0.79 percent, Bangkok Expressway spiked 1.83 percent, BTS Group jumped 1.65 percent, Charoen Pokphand Foods advanced 0.97 percent, Kasikornbank sank 0.66 percent, Krung Thai Bank skidded 1.72 percent, PTT Exploration and Production accelerated 1.88 percent, PTT Global Chemical rallied 1.25 percent, Siam Concrete plunged 1.76 percent, TMB Bank dropped 1.20 percent and Siam Commercial Bank, PTT and Bangkok Dusit Medical were unchanged.
The lead from Wall Street offers little guidance as stocks showed a lack of direction on Friday, bouncing back and forth across the unchanged line before ending mixed.
The Dow eased 28.09 points or 0.10 percent to finish at 28,335.57, while the NASDAQ gained 42.28 points or 0.37 percent to end at 11,548.28 and the S&P 500 rose 11.90 points or 0.34 percent to close at 3,465.39. For the week, the Dow shed 0.9 percent, the NASDAQ lost 1.1 percent and the S&P fell 0.5 percent.
The choppy trading on Friday came amid a lack of concrete news out of Washington regarding a new coronavirus stimulus bill. Traders have generally remained optimistic that a bill will eventually be passed, although they may be tired of waiting.
A steep drop by shares of Intel (INTC) weighed on the Dow, with the semiconductor giant plunging 10.6 percent after reporting Q3 earnings that beat estimates but on weaker than expected revenues for its Data Center Group. Credit card giant American Express (AXP) also tumbled after reporting Q3 earnings that missed expectations.
Crude oil prices drifted lower on Friday, weighed down by worries about energy demand due to the surge in coronavirus cases and lockdown measures in several countries. West Texas Intermediate Crude oil futures for December ended down by $0.79 or 1.9 percent at $39.85 a barrel.
A customer walks out of a Walgreens pharmacy store in Austin, Texas
Walgreens is using Adobe and Microsoft's technology to roll out new tools to reach customers digitally.
Walgreens Boots Alliance, the parent company of Walgreens, is using Microsoft's Dynamics 365 customer data platform to build a unified profile of each of its customers, which then connects to Adobe's Experience Cloud.
That allows Walgreens and other stores within the company to let people to order online and pick up in-store, get personalized coupons in their emails, and track their pharmacy information easily.
Business Insider spoke to Walgreens' CIO Francesco Tinto, and Adobe exec Stephen Frieder about the transformation underway.
Visit Business Insider's homepage for more stories.
Walgreens wants to be able to reach its customers in new ways, including through their phones, and it's leaning on Adobe and Microsoft to make it happen.
The partnership was officially announced at the end of June, and Walgreens and sister retail chain Boots are already beginning to release new tools — yes, in the middle of a global pandemic — that allow customers to access services and goods digitally, as well as in person.
The goal is to create a "seamless experience" for customers around health and wellness and retail, chief information officer Francesco Tinto told Business Insider, by using the wealth of information the firm already had about its customers.
Tinto is CIO at Walgreens Boots Alliance (WBA), the result of the merger between Boots Alliance and Walgreens in 2014 that includes Walgreens and Duane Reade stores and pharmacies in the US, as well as retail store Boots, and pharmacy wholesaler Alliance Healthcare, which are mainly overseas.
The company is using Microsoft's Dynamics 365 customer data platform to build a unified profile of each of its customers — including the 100 million people using its loyalty program — which it then connects to Adobe's Experience Cloud for capabilities like allowing people to order online and pick up in store, get personalized coupons in their emails, and track their pharmacy information easily.
Tinto and an Adobe exec dished on why the new partnership is so important to the firm's future and how it came together in the first place:
How Adobe and Microsoft are powering WBA's digital transformation
Francesco Tinto is the CIO of Walgreens Boots Alliance
Walgreens Boots Alliance
Adobe and Walgreens won out in part because they were already familiar with the company's broader transformation process through pre-existing partnerships. Adobe first partnered with Walgreens in 2015 to provide analytics and customer personalization for Walgreens' mobile app. Microsoft, meanwhile, partnered with Walgreens in early 2019 to use its technology to develop new ways of providing health care, which included having Walgreens move most of its IT infrastructure to Microsoft's Azure cloud.
The foundation of the new project is Walgreens' customer data, which is centralized using Microsoft Dynamics customer data platform. Information about what a customer usually buys, their preferences, their local stores, and their medication information for the pharmacy is collected from multiple places and combined into one single customer profile. Adobe then connects that data to its digital marketing and commerce software.
For the customer, it means that if they buy Vitamin B regularly, Walgreens will automatically email them new promotions for Vitamin B and tell them when it will be in stock at their local store. They can then order online and pick it up at the store. Then, when they're picking the order up, they might also get reminders about their medication refills available at the pharmacy, or a reminder to get a flu shot at the store, alerts which are made possible through Adobe's digital marketing and commerce tools.
Those same tools allow the firm to create groups of customers to send certain information to: For example, it could send info about products to manage diabetes to any customer that it knows takes diabetes medication.
The result is a "really valuable, personalized experience" for customers to help track their wellness, Stephen Frieder, Adobe's president of the Americas, told Business Insider.
Walgreens also makes sure that this sensitive health data and customer information is private, handled securely, and not shared with third parties, Tinto said, while its tools comply with health privacy laws like HIPPA.
As Walgreens Boots Alliance keeps building out its digital offerings using Adobe, customers will get more recommendations and coupons for items they regularly buy. It only introduced the ability to buy items online and pickup in-store a few months ago, because of the pandemic, and while it's only available for certain items now, it will roll out for all goods by the end of the year.
It already seems to be paying off, though. In its most recent earnings report, Walgreens said that sales for online orders picked up in-store increased two-fold from the quarter before, while its "mass personalization" boosted sales generally, too.
Walgreens strength is that so many people live close to one, according to Tinto, while Adobe's Frieder echoed that its accessibility is especially important given the on-going pandemic, and how people get health and wellness services: "I think the role of Walgreens in general has never been more important during COVID."
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