Air Products Plans $5 Billion Green Ammonia Plant in Saudi Arabia

Air Products on Tuesday announced an agreement for $5 billion green hydrogen-based ammonia production facility that will be powered by renewable energy. The project will be equally owned by Air Products, ACWA Power of Saudi Arabia and NEOM. NEOM is a new model for sustainable living located in the North West corner of the Kingdom … Read more Air Products Plans $5 Billion Green Ammonia Plant in Saudi Arabia

CPC Corp, Taiwan Restarts its No. 4 Cracker After Recent Shutdown

CPC Corporation, a Taiwanese petrochemical major restarted its No. 4 naphtha-fed steam cracker on July 6th after being shut last week. The company unexpectedly shut its No. 4 cracker due to technical glitches on 2 July, 2020. Based in Linyuan, Taiwan, the cracker is able to produce 380,000 tons per year of ethylene and 193,000 … Read more CPC Corp, Taiwan Restarts its No. 4 Cracker After Recent Shutdown

India Gelatine Reports Net Loss for Q4 FY19-20

India Gelatine & Chemicals Ltd., a gelatin manufacturer based in India, announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company has posted a net loss of Rs 1.45 crores (-$0.19 million) for the period ended March 31, 2020 as against net profit of Rs 1.75 crores ($0.23 … Read more India Gelatine Reports Net Loss for Q4 FY19-20

I G Petrochemicals Reports Drop in Net Profit for FY19-20

I G Petrochemicals Ltd., a petrochemicals manufacturer based in India, announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company’s net profit declined 78.1% to Rs 3.95 crores ($0.53 million) for the period ended March 31, 2020 as against Rs 18.06 crores ($2.4 million) for the period ended … Read more I G Petrochemicals Reports Drop in Net Profit for FY19-20

PolyOne Completes Clariant Masterbatch Acquisition

PolyOne Corporation, a leading global provider of specialized polymer solutions, has completed its purchase of the color masterbatch businesses of Clariant and Clariant Chemicals India Ltd.  PolyOne also announced that it has changed its name and will now be called Avient. “We proudly welcome our newest associates and valued customers from Clariant Masterbatch.  They are … Read more PolyOne Completes Clariant Masterbatch Acquisition

Punjab Alkalies Reports Net Loss in Q4 FY19-20

Punjab Alkalies & Chemicals Ltd., a chlor-alkali manufacturer based in India, announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company has posted net loss of Rs (1.74) crores (-$0.23 million) for the period ended March 31, 2020 as against net profit of Rs 19.83 crores ($2.7 million) … Read more Punjab Alkalies Reports Net Loss in Q4 FY19-20

GAIL Q4 FY19-20 Net Profit Jumps 171% to $400 Million

GAIL (India) Ltd., one of India’s state-owned natural gas and petrochemicals manufacturer, announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company’s net profit rose 171% to Rs 3,018 crores ($400 million) for the period ended March 31, 2020 as against Rs 1,112 crores ($147 million) for the … Read more GAIL Q4 FY19-20 Net Profit Jumps 171% to $400 Million

Shell Cuts its Valuation by $22B as COVID-19 Affects all Business Segments

Royal Dutch Shell is writing down the value of its oil and gas assets by up to $22 billion as it adjusts the oil’s historic crash in recent months. Shell updated its mid and long-term price and refining margin forecast in the second quarter of 2020 reflecting the anticipated impact of the COVID-19 pandemic and … Read more Shell Cuts its Valuation by $22B as COVID-19 Affects all Business Segments

INEOS to Acquire BP’s Global Aromatics and Acetyls Business

BP’s Aromatics and Acetyls business consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 leading joint ventures. INEOS announced its intention to purchase the global Aromatics and Acetyls businesses of BP for a consideration of $5 billion. Aromatics provide the building blocks … Read more INEOS to Acquire BP’s Global Aromatics and Acetyls Business

Indo Rama Synthetics Reports a Net Loss of $41.9 Million for FY19-20

Indo Rama Synthetics (India) Limited, one of India’s major polyester manufacturer, announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company reported a net loss of Rs 49.84 crores (-$6.6 million) for the quarter ended March 31, 2020 as compared to a net loss of Rs 169.33 crores … Read more Indo Rama Synthetics Reports a Net Loss of $41.9 Million for FY19-20

Reliance-Aramco JV in Progress, says Ambani

Reliance Industries Ltd said it is working to complete contours of a $15 billion deal with Saudi Aramco but did not give a timeline for its completion. In August last year, RIL ‘s Chairman & Managing Director, Mukesh Ambani, announced talks to sell 20% of the oil-to-chemical (O2C) business, which includes its twin oil refineries … Read more Reliance-Aramco JV in Progress, says Ambani

Alufluoride Reports 25.1% Growth in Net Profit for FY19-20

Alufluoride Ltd., a aluminum fluoride manufacturer based in India has reported its financial results for the period ended March 31, 2020. Q4 Results The company’s net profit rose 55.8% to Rs 2.29 crores ($0.3 million) for the period ended March 31, 2020 as against Rs 1.47 crores ($0.2 million) for the period ended March 31, … Read more Alufluoride Reports 25.1% Growth in Net Profit for FY19-20

Khaitan Chemicals Registers 1356% Net Profit Growth in Q4 FY19-20

Khaitan Chemicals & Fertilizers Ltd., a chemicals and fertilizers manufacturer based in India has reported its financial results for the period ended March 31, 2020. Q4 Results The company’s net profit rose 1356.1% to Rs 5.97 crores ($0.79 million) for the period ended March 31, 2020 as against Rs 0.41 crores ($0.054 million) for the … Read more Khaitan Chemicals Registers 1356% Net Profit Growth in Q4 FY19-20

Gujarat Alkalies Q4 Net Profit Falls 93.3%

Gujarat Alkalies & Chemicals Ltd., an Indian chlor-alkali manufacturer has reported its financial results for the period ended March 31, 2020. Q4 Results For the quarter, the company has posted a net profit of Rs 11.40 crores ($1.5 million), a 93.3% decline as against Rs 168.93 crores ($22.3 million) during the prior-year quarter. Net sales … Read more Gujarat Alkalies Q4 Net Profit Falls 93.3%

HPCL Posts Net Loss for Q4 FY19-20 on Inventory & Pandemic Woes

HPCL (Hindustan Petroleum Corporation Limited), an Indian oil & gas marketing company has reported its financial results for the period ended March 31, 2020. Q4 Results For the quarter, the company has posted net loss of Rs (27.63) crores (-$3.6 million), a 101% decline as against net profit of Rs 3340.03 crores ($440.9 million) during … Read more HPCL Posts Net Loss for Q4 FY19-20 on Inventory & Pandemic Woes

China’s Sinopec Starts Up New Refinery in Zhanjiang

Sinopec, China’s state-owned refiner has started its 200,000 bpd (barrel per day) Zhanjiang refinery in the southern province of Guangdong. Operations began on 16th June at the refinery’s crude units and some secondary units, Sinopec said. Situated in coastal city of Zhanjiang, the refinery comprises a 200,000 bpd (barrel per day) crude oil refinery and … Read more China’s Sinopec Starts Up New Refinery in Zhanjiang

Aramco Completes Acquisition of 70% Stake in SABIC

Aramco has announced the successful completion of its share acquisition of a 70% stake in Saudi Basic Industries Corp. (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion ($69.1 billion), equating to SAR 123.39 ($32.89) price per share. The acquisition enhances … Read more Aramco Completes Acquisition of 70% Stake in SABIC

Vinyl Chemicals India Reports Drop in FY19-20 Q4 Net Profit

Vinyl Chemicals India Ltd., an Indian VAM (vinyl acetate monomer) manufacturer has reported financial results for the period ended March 31, 2020. Q4 Results The company’s net profit fell by 93.07% to Rs 0.25 crore ($0.03 million) for the period ended March 31, 2020 as against Rs 3.61 crores ($0.47 million) for the period ended … Read more Vinyl Chemicals India Reports Drop in FY19-20 Q4 Net Profit

Mitsui Chemicals Commissions New PP Compounding Plant in the Netherlands

Mitsui Prime Advanced Compounds Europe, a joint venture between Mitsui Chemicals (75%), Mitsui & Co. (15%) and Prime Polymer Co. (10%), has commissioned its first polypropylene (PP) compounding plant in Europe. Located within Chemelot Industrial Park in the Netherlands, Advanced Compounds Europe marks Mitsui Chemicals Group’s first polypropylene (PP) compounding site in Europe. The facility … Read more Mitsui Chemicals Commissions New PP Compounding Plant in the Netherlands

Rashtriya Chemicals & Fertilizers Net Profit for FY19-20 Up by 55.83%

Rashtriya Chemicals & Fertilizers Ltd., an Indian government-owned chemicals & fertilizers manufacturer has reported financial results for the period ended March 31, 2020. Q4 Results The company’s net profit increased 201.91% to Rs 142.38 crores ($18.7 million) for the period ended March 31, 2020 as against net profit of Rs 47.16 crores ($6.2 million) for … Read more Rashtriya Chemicals & Fertilizers Net Profit for FY19-20 Up by 55.83%