06 March 2007 15:03 [Source: ICIS news]
LONDON (ICIS news)--BP expects to spend around $60m (€46m) registering its chemical portfolio in EU’s new chemical regulation programme Reach, the energy giant said on Tuesday in its 2006 annual review.
BP said its initial estimate suggests costs of about $60,000 per substance for nearly 1,000 entities in its refining petroleum, petrochemicals, lubricants and other chemical products.
In total around 30,000 products would require registration under the Reach programme, suggesting companies with more diverse portfolios would have significantly larger registration costs.
Under the programme - which will be implemented on 1 June 2007 – all chemical substances made or imported in the EU above one tonne/year will require pre-registration within 18 months and a registration within a 3-11 year time-phased period.
($1 = €0.76)
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