India plans to sell as much as 1.5% stake in state-run Oil & Natural Gas Corp., via an offer for sale, according to an exchange filing. The floor price for the offer is set at 159 rupees apiece. The government aims to raise 30 billion rupees ($397 million) from the share sale. The government owns … Read more
UK carbon capture specialist Storegga jointly with Mitsui & Co., Ltd. to advance the commercialisation of direct air capture (DAC) technology. The Memorandum of Understanding (MoU) signed on March 25th will also support development of the UK’s first DAC facility in North East Scotland which aims to extract one million tonnes of carbon dioxide (CO2) … Read more
Indian Oil Corporation Limited (IOCL) has announced plans to build a 60,000 ton per annum (tpa) polybutadiene rubber (PBR) plant at its existing naphtha cracker complex in Panipat. IOCL be investing Rs 14.6 billion ($191 million) in the new facility. The plant will use technology provided by the Goodyear Tire & Rubber Co. The project … Read more
KBR announced that it has secured a contract from a leading midstream company for a world-scale olefins production facility to be built on the U.S. Gulf Coast. Under the terms of the contract, KBR will provide the license and engineering for the olefins production plant. KBR’s K-COTTM catalytic olefins technology is the key enabler that … Read more
ExxonMobil announced that construction of the new linear alpha olefins (LAO) manufacturing unit at its Baytown, Texas, integrated petrochemical complex is progressing and targeting commercial start up in mid-2023. When fully operational, the new facility will have the capacity to produce approximately 350,000 metric tons of LAO annually. ExxonMobil will manufacture 10 high-purity LAO products … Read more
Symrise has submitted a binding offer to acquire 100% of R. Romani – Société Française d’Aromatiques (SFA Romani), a high-end fragrances house. In addition, Symrise submitted a binding offer to fully acquire Neroli Invest DL (Groupe Neroli). Both companies are based in the Grasse area in France. With these transactions, Symrise intends to reinforce its … Read more
Two Algerian companies along with two Chinese companies signed a Shareholders’ Pact for the creation of a joint-stock company under Algerian law to begin preliminary activities relating to the development of an integrated phosphates project (PPI). Algerian companies include Asmidal, a subsidiary of Sonatrach (Hydra, Algeria), and Manal. The Chinese companies include Wuhuan Engineering Co. … Read more
Maire Tecnimont S.p.A. announced that it has been awarded a project on an EPCM basis by a leading global chemicals producer for the implementation of a Blue Ammonia plant in the United States. The project is part of the US’s plan to develop its energy transition industrial vision. Tecnimont S.p.A., a main contractor of Maire … Read more
Ascend Performance Materials has reached an agreement to acquire Formulated Polymers Ltd., a leading engineered materials manufacturer in Chennai, India. Expected to close on May 1, this acquisition will establish Ascend’s first manufacturing base in the subcontinent and strengthen Ascend’s global reach in the electrical and e-mobility application space. The deal includes a worldscale manufacturing … Read more
Petronas signed a Memorandum of Understanding (MoU) with KDEB Waste Management (KDEBWM) and One Biosys Sdn Bhd for the supply of plastic waste from landfills and evaluation of potential collaboration to build waste segregation facilities in Malaysia. Under the MoU, KDEBWM and One Biosys will supply plastics waste that consists of polyethylene (PE), polypropylene (PP) … Read more
Oil India Limited announced that the Board of Directors at its meeting held on March 16, 2022, has approved Rs 65.55 billion ($861 million) investment by subsidiary company Numaligarh Refinery Limited (NRL) for implementation of petrochemical project at Numaligarh, Assam. The board also approved the formation of a joint venture company between Assam Gas Company … Read more
Two major semiconductor market leaders have awarded Air Liquide long-term contracts for the supply of ultra-high purity industrial gases in Japan. To fulfill these contracts, Air Liquide has begun a staged investment of more than 300 million euros in four state-of-the-art gas plants in key Electronics basins to produce more than 1.5 billion Nm3 per … Read more
Stolthaven Terminals, part of the Stolt-Nielsen Group, and the Pecém Industrial and Port Complex have signed a memorandum of understanding (MoU) for the study of a new storage terminal in Pecém Port, Brazil. The terminal will focus on providing storage and handling services for green hydrogen and associated products. Pecém Port is located in Ceará … Read more
The Board of directors of Supreme Petrochem Ltd. in its meeting held recently has approved Phase II expansion of its Expandable Polystyrene (EPS) plant at Nagothane, Maharashtra by 30,000 MTA. The Board has also approved setting of second line of Extruded Polystyrene Board (XPS) with capacity of 100,000 M3 and increasing the Masterbatch and Compounds … Read more
Solvay announced it is reviewing plans to separate the Company into two independent publicly traded companies: EssentialCo would comprise leading mono-technology businesses including Soda Ash, Peroxides, Silica and Coatis, which are reported as the Company’s Chemicals segment, as well as the Special Chem business. These businesses generated approximately €4.1 bn in net sales in 2021. … Read more
SABIC has announced a new collaboration with Kraton to deliver certified renewable butadiene from its TRUCIRCLE portfolio for use in Kraton’s certified renewable styrenic block copolymers (SBC). This effort forms part of SABIC’s 2025 strategy, which includes a Sustainability Development Goal roadmap spanning the organization’s entire value chain and addressing 10 goals to help drive … Read more
Borealis has announced it will not go ahead with plans to sell its nitrogen fertilizer business to Russian-owned, Swiss-based fertilizer producer EuroChem. The deal is among many other European chemicals agreements that have been cancelled due to the Russian invasion of Ukraine. The proposed binding offer of €455 million was unveiled in early February, and … Read more
Bayer and Cinven have entered into a definitive agreement regarding the sale of Bayer’s Environmental Science Professional business for a purchase price of $2.6 billion, Bayer announced on Thursday. “This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science … Read more
Repsol has commenced work on the first advanced biofuels plant in Spain that the company is building at its Cartagena refinery. Repsol, in alignment with its ambition to become a net zero emissions company by 2050, will invest €200 million in this project that will enable the supply of 250,000 tonnes per year of advanced … Read more
Advanced Petrochemical Co. has announced that Advanced Polyolefins Industry Co., a subsidiary company, has signed a loan agreement with the Saudi Industrial Development Fund (SIDF). The loan agreement is valued at 3 billion Saudi Riyals ($800 million), and comes as a completion of the procedures and requirements stipulated by SIDF in the conditional loan approval. … Read more