UPL reports 43% drop in Q4 PAT but registers 4% growth in revenue

UPL Ltd., a leading agrochemical company, has recently reported its financial results for Q4 FY23 and the full fiscal year. The company’s PAT (Profit After Tax) for the quarter was INR 7.92 billion, a significant decline of 43% compared to the corresponding period last year when it was INR 13.79 billion. However, the company’s revenue … Read more

Evonik expands global alkoxides business with new Singapore plant

Evonik has begun construction of a new production plant for alkoxides in Southeast Asia. The mid-double-digit million-euro investment will enhance supply security for customers in the region and further strengthen the company’s global alkoxides business. The company is expanding its production capabilities in response to the growing demand for alkoxide catalysts, which are primarily used … Read more

Grace announces start-up of PP reactor line with PetroChina GuangDong

W. R. Grace & Co has achieved another significant milestone in the Asian market with the start-up of a 500 KTA polypropylene reactor line by PetroChina Guang-Dong PetroChemical Company, a subsidiary of PetroChina Group. The plant will produce homopolymer, random copolymer, and impact copolymer polypropylene resins, catering to the increasing demand for high-quality PP resins … Read more

India’s CPCL Posts Strong Financial Performance in FY23

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

Reliance’s O2C Business Reports Sharp Rise in Q4 FY23 Profitability

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

LONGi Hydrogen wins bid for the world’s largest green ammonia demonstration project

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

ExxonMobil, Keppel to explore low-carbon ammonia solutions for Singapore

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

BPCL to Invest in Bina Refinery Expansion and Petrochemical Complex

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 Diversifies into Specialty Chemicals

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

Technip Energies awarded Contract for PDO and PTT Plants in China

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 Develops Rare-Earth-Free Zirconia Balls

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 to Double Global Capacity for High-Performance Polymer, VESTAMID E

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

India’s Anupam Rasayan Signs $182M LOI with Japanese Multinational

Anupam Rasayan India Ltd, a chemical manufacturer, announced on Thursday that it has signed a letter of intent (LoI) worth $182 million (Rs 15 billion) with a leading Japanese multinational to produce and supply three high-value specialty chemicals. New Molecules for Specialised Polymers and Liquid Crystals The three molecules to be manufactured by Anupam Rasayan … Read more

India’s Neogen Chemicals signs agreement with MU Ionic Solutions Corp

Neogen Chemicals Limited, a prominent Indian manufacturer of specialty chemicals based on Bromine and Lithium, has signed a license agreement with MU Ionic Solutions Corporation (MUIS), a joint venture between Mitsubishi Chemical Corporation (MCC) and UBE Corporation. As part of the agreement, Neogen will obtain proprietary and confidential manufacturing technology for making electrolyte solutions, which … Read more

Sinopec’s 170K Ton/Year SBC Project Goes into Operation

Hainan Baling Chemical New Material Co., Ltd., a subsidiary of China Petroleum & Chemical Corporation (Sinopec), has launched production of its styrene-butadiene copolymer (SBC) project in Hainan, China, which will reach an annual production capacity of 170,000 tons. Sinopec now has the largest world’s largest production capacity of SBC plants. Baling New Material and Sinopec … Read more

BASF to Establish Compounding Capacities for Ecovio in Shanghai

BASF, a leading chemical company, announced its plan to establish compounding capacities for its certified compostable biopolymer ecovio® in Shanghai, China. The move is aimed at better supporting local customers in Asia and meeting their needs for film applications, including certified compostable shopping and organic waste bags, soil-biodegradable agricultural mulch films, and packaging. Benefits for … Read more

India’s Chambal Fertilisers awards L&T EPC contract for TAN project

Chambal Fertilisers and Chemicals Limited, a leading producer of urea fertilizers in India, has recently awarded an engineering, procurement, and construction (EPC) contract to Larsen & Toubro Limited on April 5, 2023. The contract is for the Technical Ammonium Nitrate (TAN) Project, which involves setting up a new plant for the manufacture of Technical Ammonium … Read more

India’s L&T Energy Hydrocarbon wins multiple offshore contracts in Middle East

L&T Energy Hydrocarbon (LTEH), a business unit of Larsen & Toubro (L&T), has recently been awarded several offshore packages by a prestigious client in the Middle East. The scope of work includes engineering, procurement, construction, and installation of various new offshore facilities, as well as integration with existing installations. Repeat orders signify customer satisfaction Commenting … Read more

Indigo Paints acquires 51% stake in Apple Chemie India for expansion

Indigo Paints, one of India’s leading paint companies, has acquired a 51% controlling stake in Apple Chemie India Private Limited (ACIPL), a rapidly growing firm specializing in construction chemicals and waterproofing. The acquisition was a combination of primary capital infusion and secondary share purchase transactions with the promoters, with Indigo Paints having the option to … Read more

INEOS Phenol Acquires Mitsui Phenols for $330M, adds 1MT Capacity

INEOS Phenol has announced that it has agreed to acquire the entire asset base of Mitsui Phenols Singapore Ltd from Mitsui Chemicals, a leading Japanese chemicals manufacturer, for a total consideration of $330 million. The business has a turnover of $750 million and produces over 1 million tonnes of product each year, including cumene (410 … Read more