China’s Hengyi Petrochemical Co Ltd plans to spend $13.65 billion to build the second phase of a refinery and petrochemical complex, it reported in a stock filing. Hengyi, one of the few private Chinese firms operating a refinery outside China, plans to add a 14 million tonne per year (280,000 barrel per day) crude oil … Read more
Goa Carbon Reports Net Loss of Rs 5.07 Cr for Q1 FY20-21 Goa Carbon Ltd., a petrochemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company reported a net loss of Rs 5.07 crores ($0.69 million) for the period ended June 30, 2020 as … Read more
Indo Borax & Chemicals Ltd., a chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit increased 10.4% to Rs 5.75 crores ($0.78 million) for the period ended June 30, 2020 as against net profit of Rs 5.21 crores ($0.71 million) for … Read more
Reliance Industries Ltd (RIL) has released a detailed plan on spinning off its oil-to-chemical (O2C) business into a separate subsidiary on Sunday, according to a report by The Telegraph. It has come up with a detailed scheme of arrangement to transfer the undertaking to the O2C subsidiary through a slump sale, which is likely to … Read more
Shree Pushkar Chemicals & Fertilisers Ltd., a chemicals and fertilizers manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit dropped 91% to Rs 1.01 crores ($0.14 million) for the period ended June 30, 2020 as against net profit of Rs 11.24 crores … Read more
LyondellBasell and China’s Liaoning Bora Enterprise Group (Bora) announced the establishment and start-up of their new joint venture polyolefin complex in the Liaoning province of northeastern China. First announced in September 2019, the 50:50 joint venture (JV) will operate under the name Bora LyondellBasell Petrochemical Co. Ltd. (BLYB). “Demand for polyolefins has returned in China … Read more
Mysore Petro Chemicals Ltd., a Maleic Anhydride manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit dropped 2.5% to Rs 1.55 crores ($0.21 million) for the period ended June 30, 2020 as against net profit of Rs 1.59 crores ($0.22 million) for … Read more
Poddar Pigments Ltd., a pigment manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit dropped 73% to Rs 1.61 crores ($0.22 million) for the period ended June 30, 2020 as against net profit of Rs 5.95 crores ($0.82 million) for the previous … Read more
Indo Amines Ltd., an organic amines manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit grew 66.2% to Rs 2.51 crores ($0.34 million) for the period ended June 30, 2020 as against net profit of Rs 1.51 crores ($0.21 million) for the … Read more
Afton Chemical Corporation, a global leader in the lubricant and fuel additive market, has received approval from the Afton Chemical board to invest in Gasoline Performance Additives (GPA) blending capabilities at its Singapore Chemical Additive Manufacturing Facility. The investment is part of Afton’s “Made In” strategy that focuses on globally lean supply chain solutions that … Read more
Wuthelam Holdings Pte., a Singaporean paint conglomerate, signed a 1.3 trillion yen ($12.3 billion) deal to acquire a majority stake in Nippon Paint Holdings, Japan’s largest coatings maker, seeking to create a dominant paints and coatings company in Asia, according to a Nikkei’s report. Wuthelam will lift its stake to 55% from 39% through a … Read more
National Peroxide Ltd., a peroxide chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company reported a net loss of Rs (1.78) crores ($0.24 million) for the period ended June 30, 2020 as against net profit of Rs 3.03 crores ($0.41 million) for the … Read more
Indian Toners & Developers Ltd., a toners manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit declined 21% to Rs 2.23 crores ($0.3 million) for the period ended June 30, 2020 as against net profit of Rs 2.82 crores ($0.38 million) for … Read more
Prince Pipes and Fittings Limited (PPFL), one of India’s largest growing integrated piping solutions & multi polymer manufacturers, announced the launch of Prince FlowGuard Plus in association with Lubrizol, inventors and largest manufacturers of CPVC compounds worldwide, headquartered in the United States. Lubrizol is dedicated to supplying the highest quality CPVC compounds to service hot … Read more
PETRONAS Chemicals Group Berhad (PCG) and LG Chem recently inked an agreement to build a Nitrile Butadiene Latex (NBL) manufacturing plant at Pengerang Integrated Complex (PIC) in Johor. PCG said in a press release that this facility will target the growing nitrile glove market, further strengthening Malaysia’s position as the largest exporter of gloves globally. … Read more
NOCIL Ltd., a rubber chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit declined 45.4% to Rs 11.95 crores ($1.6 million) for the period ended June 30, 2020 as against net profit of Rs 21.87 crores ($2.9 million) for the previous … Read more
Saudi Aramco is suspending its investment in a joint venture developing a US$10-billion refinery and petrochemicals complex in China amid capex cuts, according to a Bloomberg report. The Chinese will continue with the project, while the joint venture — in which Saudi Aramco owns 35% — remains an option for the future, Bloomberg sources claim. … Read more
L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro (L&T), has signed a memorandum of understanding (MoU) with state-run power utility major NTPC on 19 August 2020. As per the MoU, L&T Hydrocarbon Engineering (LTHE) will be the Engineering, Procurement and Construction Management partner to build CO2 to Methanol demonstration Plant in NTPC … Read more
Bhagiradha Chemicals & Industries Ltd., a specialty chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit rose 278% to Rs 2.58 crores ($0.34 million) for the period ended June 30, 2020 as against net loss of Rs (1.45) crores ($0.19 million) … Read more
BASF Idemitsu Co., Ltd., a joint venture between BASF SE and Idemitsu Kosan Co., Ltd., will be closing its 1,4-Butanediol (BDO) plant at Chiba, Japan in December 2020. The joint venture agreement between BASF and IKC will be terminated thereafter. BASF’s decision to close the BIC plant in mutual agreement with IKC is part of … Read more