kemicalinfo BASF, a leading chemical company headquartered in Germany, recently released its first-quarter statement for the 2023 business year, reporting sales of €20.0 billion, which is down by €3.1 billion compared to the prior-year quarter. Despite a challenging economic environment, the company’s EBIT before special items of €1.9 billion were significantly above average analyst estimates. Sales … Read more
Chennai Petroleum Corporation Ltd (CPCL) has recorded a commendable financial performance for the financial year 2023. This can be attributed to factors such as improved capacity utilization, the addition of Russian crude to its portfolio, higher sales of value-added products, and cost savings in energy usage. Q4 Results – QoQ Chennai Petroleum Corporation Limited (CPCL) … Read more
Dow Inc., a leading chemicals and materials manufacturer, reported a loss of $93 million in Q1 2023. This compares to a profit of $1,569 million in the same period a year ago. The company saw lower sales across its segments in the quarter due to weaker macroeconomic activity globally, which resulted in a 22% year-over-year … Read more
PureCycle Technologies, Inc., announced it has reached mechanical completion of its first polypropylene purification plant in Ironton, and submitted documentation to Leidos Engineering, LLC, the site’s independent construction monitor, for formal certification of completion. PureCycle prepared the final closure documentation consistent with the requirements set forth by Lei-dos and believes the information to be complete … Read more
India’s Reliance Industries Limited (RIL) has reported a significant increase in profitability in its oil-to-chemical (O2C) business. This is attributed to India sourcing cheaper crude oil from Russia. Despite global uncertainties and disruptions in commodity trade flows, the company’s O2C segment posted its highest-ever operating profit. Chairman and Managing Director Mukesh Ambani noted that RIL’s … Read more
Akzo Nobel, a Dutch paints and coatings manufacturer, has reported better-than-expected demand in Europe and China as its first-quarter operating profit exceeded forecasts. The company attributed the positive results to higher prices and the reopening of China’s economy. While the company had raised prices to offset the steep raw material costs last year, it had … Read more
Jilin Electric Power Co., Ltd. announced that LONGi Hydrogen Energy won the tender for the “Da’an Wind and Solar Green Hydrogen Synthesis Ammonia Integration Demonstration” project for a total of 15 sets of 1000Nm³/h electrolytic water hydrogen production system. On October 26, 2022, the “Hydrogen Energy Promotes Jilin” Action and the “Da’an Wind and Solar … Read more
Keppel Infrastructure and ExxonMobil Asia Pacific have announced the signing of a Memorandum of Understanding (MOU) to develop access to low-carbon hydrogen and ammonia for scalable commercial and industrial applications in Singapore. In addition to being a hydrogen carrier and storage medium, ammonia can be used directly as a carbon-free fuel or broken down into … Read more
Orion Engineered Carbons, a specialty chemicals company, announced that cogeneration technology that produces renewable energy has been installed at its Ivanhoe plant in the southern U.S. state of Louisiana, making the facility more efficient, reliable, and sustainable. The cogeneration system, which includes a steam turbine generator, uses the waste steam from the carbon black plant’s … Read more
Henkel has signed an agreement on the sale of its business activities in Russia to a consortium of local financial investors. In April 2022, the company announced the decision to exit from Russia. The consortium that acquires the Henkel business activities in Russia includes Augment Investments, Kismet Capital Group, and Elbrus Services. All acquirers have … Read more
Ion Exchange (India) announced on 20 April 2023 that its Board of Directors has approved a proposal to invest in and acquire a Portuguese company named MAPRIL – Produtos Químicos e Maquinas Para a Industria, Lda. The acquisition will be made by purchasing 11,11,500 equity shares, which represents 100% of the issued and paid-up equity … Read more
A coalition of companies, including major utilities such as Dominion Energy, Duke Energy, Southern Company, and the Tennessee Valley Authority (TVA), has applied for federal funding to build a green hydrogen network spanning six southeastern states in the USA. The Southeast Hydrogen Hub coalition has completed its full application to the US Department of Energy … Read more
Chemours Company and TC Energy have signed a memorandum of understanding (MOU) to potentially develop two hydrogen production facilities in West Virginia. The facilities would be located at or near Chemours’ Belle and Washington Works manufacturing sites and support the Appalachian Regional Clean Hydrogen Hub (ARCH2) initiative. The companies aim to develop, build and operate … Read more
Bharat Petroleum Corp Ltd (BPCL), a state-owned company in India, has announced plans to invest between Rs 430-500 billion ($5.2-6.1 billion) to expand its Bina refinery and construct a petrochemical complex in central Madhya Pradesh state. BPCL has received the necessary approvals from the state government for the project. The proposed petrochemical complex is set … Read more
Petronas Chemicals Group Bhd (PCG) has reported a strong performance in 2022, despite geopolitical conflicts, market volatilities, and industry challenges. The company is now focusing on expanding its specialties portfolio after its acquisition of Sweden-based Perstorp Group. PCG’s new specialty chemicals division will manage and steer critical strategic priorities supporting the group’s long-term aspirations in … Read more
Barentz International, a leading global life science and performance materials ingredients distributor has, in close collaboration with its joint venture partner, Tovani Benzaquen, expanded its activities in South America. The company proudly announces the acquisition of Metachem Industrial e Comercial Ltda and its associate Chemtra Comercial Importação e Exportação Ltda., considered one of the main … Read more
Technip Energies has been awarded a contract by Ningbo Juhua Chemical & Science Co., Ltd. (Juhua) for a 1,3-propanediol (PDO) plant with a capacity of 72 kta (kilo tons per annum) and a 150 kta poly trimethylene terephthalate (PTT) plant in Ningbo, Zhejiang, China. These two products are based on Technip Energies’ proprietary Zimmer® PDO … Read more
Toray Industries, a multinational corporation specializing in advanced materials and chemicals, announced the successful development of the world’s first mass-production technology for rare-earth-free zirconia balls. These highly durable balls have the ability to grind and mill ceramic materials for multilayer ceramic capacitors (MLCCs) and electrode materials for lithium-ion batteries. The technology breakthrough will enhance the … Read more
Evonik, a leading specialty chemicals company, has announced plans to double its global capacity for VESTAMID® E, a polyether block amide (PEBA) high-performance polymer. The move comes as demand for the raw material, which is used extensively in the global athletic footwear market, continues to surge. Major Expansion at Multi-User-Site in Shanghai Evonik’s capacity expansion … Read more
MAIRE Tecnimont S.p.A., a leading player in the engineering and construction of plants in the energy, infrastructure, and petrochemical sectors, announced the completion of the acquisition of an 83.5% stake in Conser. The acquisition was made through its subsidiary NextChem Holding S.p.A. The technology licensor and process engineering design company based in Rome, Italy, was … Read more