Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

Exclusive-Chevron Phillips Chemical failed to disclose years of U.S. benzene imports -document

Exclusive-Chevron Phillips Chemical failed to disclose years of U.S. benzene imports -document

By Laila Kearney

NEW YORK (Reuters) -A Chevron Corp and Phillips 66 petrochemical joint venture imported significant quantities of the toxic chemical benzene into the United States for several years without reporting it to regulators as required by law, according to a company document seen by Reuters.

Benzene is a known carcinogen that is used in the production of pesticides, detergents, plastics, and other synthetic materials, and companies must report imports of 25,000 pounds (11,340 kg) or more to help regulators track potential exposure.

Chevron Phillips Chemical Company LLC imported “reportable quantities” of the chemical between 2013 and 2020 that it did not immediately disclose to regulators, according to the document, a letter from the company’s attorney to non-profit watchdog group Center For Environmental Health dated April 21.

The letter said the company has since filed paperwork to correct the issue.

Chevron Phillips Chemical declined to comment on the matter for this story, citing pending regulatory review. The Environmental Protection Agency said it does not disclose whether or not there are enforcement actions underway.

“As a general matter, if a company were to identify a mistake in what was report[ed], the company must correct its (Chemical Data Reporting) submission,” the agency said.

The EPA has fined companies in the past for similar violations, running into the tens to hundreds of thousands of dollars, according to agency documents.

Woodlands, Texas-based Chevron Phillips had sent the letter to CEH after the watchdog group threatened to sue it for allegedly violating the U.S. Toxic Substances Control Act, which requires the disclosure of significant imports of dangerous chemicals.

CEH https://ceh.org/latest/press-releases/chevron-phillips-chemical-fails-to-report-massive-imports-of-benzene-and-dangerous-chemicals-to-epa said it believes the company imported more than 350 million pounds of the product without reporting it to the EPA from the years 2013 to 2015, citing the most recent publicly available data. It did not have an estimate for unreported imports since the 2016 reporting period. Most of the chemicals were shipped to the company’s Port Arthur, Texas, facility, CEH said.

CEH said it had also found that other chemical companies imported benzene without reporting it on required U.S. Chemical Data Reporting rule forms, but in lesser quantities.

“We believe these violations are the tip of the iceberg within the industry and CDR non-compliance is likely widespread and significant,” said Robert Sussman, CEH counsel and a former EPA senior official.

“Non-profit groups like CEH can do only so much to deter violations if EPA does not effectively use the enforcement tools at its disposal to find and penalize violators.”

Deemed a carcinogen by the U.S. Department of Health and Human Services, benzene can evaporate and also pool underground, contaminating air, soil and groundwater that can cause people and animals to become sick over time.

(Reporting by Laila KearneyEditing by Marguerita Choy)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post