National Fertilizers Ltd Reports Net Profit of Rs 108.31 Cr for Q1 FY20-21

National Fertilizers Ltd., a state-owned fertilizer and chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit grew 144% to Rs 108.31 crores ($14.7 million) for the period ended June 30, 2020 as against net loss of Rs 248.65 crores ($33.7 million) … Read more National Fertilizers Ltd Reports Net Profit of Rs 108.31 Cr for Q1 FY20-21

China’s Hengyi Plans $13.65 Billion Expansion at Brunei Petchem Complex

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 China’s Hengyi Plans $13.65 Billion Expansion at Brunei Petchem Complex

Goa Carbon Reports Net Loss of Rs 5.07 Cr for Q1 FY20-21

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 Goa Carbon Reports Net Loss of Rs 5.07 Cr for Q1 FY20-21

Indo Borax & Chemicals Reports 10.2% YoY Net Profit Growth for Q1 FY20-21

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 Indo Borax & Chemicals Reports 10.2% YoY Net Profit Growth for Q1 FY20-21

Johnson Matthey, KBR Sign Strategic Alliance for Ammonia-Methanol Coproduction Process

Johnson Matthey (JM), (London, UK), a leader in sustainable technologies, and KBR, (Houston, USA) announced that they have signed a global strategic alliance agreement to license a ground-breaking ammonia-methanol coproduction process that combines the company’s market leading ammonia and methanol process technologies. Under the collaboration the JM and KBR coproduction process makes the most of … Read more Johnson Matthey, KBR Sign Strategic Alliance for Ammonia-Methanol Coproduction Process

Reliance Industries gives Detailed Plan to Spin-off O2C Assets

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 Reliance Industries gives Detailed Plan to Spin-off O2C Assets

Shree Pushkar Chemicals Reports 84% YoY Net Profit Drop for Q1 FY20-21

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 Shree Pushkar Chemicals Reports 84% YoY Net Profit Drop for Q1 FY20-21

LyondellBasell and Bora Start-up New Joint Venture Facility

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 LyondellBasell and Bora Start-up New Joint Venture Facility

Mysore Petro Chemicals Reports Net Profit of Rs 1.55 Cr for Q1 FY20-21

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 Mysore Petro Chemicals Reports Net Profit of Rs 1.55 Cr for Q1 FY20-21

LyondellBasell PP/HDPE technology Selected for Duqm’s Oman plant

LyondellBasell announced that Duqm Refinery and Petrochemical Industries Company LLC (DRPIC) has selected LyondellBasell’s world-leading polypropylene (PP) and high-density polyethylene (HDPE) technologies for a new facility. The new plants will comprise of a polypropylene (PP) plant that will utilize LyondellBasell’s Spheripol PP process technology to produce 280,000 metric tons per year of PP and a … Read more LyondellBasell PP/HDPE technology Selected for Duqm’s Oman plant

National Peroxide Ltd Reports Net Loss of Rs 1.78 Cr for Q1 FY20-21

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 National Peroxide Ltd Reports Net Loss of Rs 1.78 Cr for Q1 FY20-21

Chemetry and Braskem to Build Ethylene Dichloride Plant

Chemetry and Braskem will construct and operate a Demonstration Plant using Chemetry’s eShuttle technology for the production of ethylene dichloride (EDC) in Brazil. The eShuttle technology has been pioneered in Chemetry’s laboratories and fully integrated pilot plant in Moss Landing, California. The eShuttle EDC Process uses a unique metal halide ion process to produce high … Read more Chemetry and Braskem to Build Ethylene Dichloride Plant

BASF and Idemitsu JV to Cease Operation of Production Plant for BDO

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 BASF and Idemitsu JV to Cease Operation of Production Plant for BDO

Sasol Updates on the Progress of Lake Charles Chemicals Project (LCCP)

The Lake Charles Chemicals Project (LCCP) continued operations with its exceptional safety record with a recordable case rate (RCR) of 0.11, according to the Company.   After the ethoxylates (ETO) expansion achieved beneficial operation in January 2020, the alcohol expansion and the alumina expansion, as well as the new Guerbet unit, achieved beneficial operation in … Read more Sasol Updates on the Progress of Lake Charles Chemicals Project (LCCP)

GAIL India Petchem Segment’s YoY Net Loss Narrows

GAIL India Ltd., one of the major petrochemicals manufacturers based in India announced its results for the first quarter ended June 30, 2020. Petrochemicals Segment Q1 Results- QoQ The company reported a net loss of Rs (154.43) crores ($20.6 million) for the period ended June 30, 2020 as against net profit of Rs 72.36 crores … Read more GAIL India Petchem Segment’s YoY Net Loss Narrows

DCM Shriram Reports 70% Decline in YoY Net Profit Growth in Q1 FY20-21

DCM Shriram Industries 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 dropped 80.4% to Rs 5.09 crores ($0.68 miilion) for the period ended June 30, 2020 as against net profit of Rs 25.98 crores ($3.5 miilion) for the … Read more DCM Shriram Reports 70% Decline in YoY Net Profit Growth in Q1 FY20-21

Shell Plans to Buy Stake in Nayara’s $9 billion Indian Petchem Project

Royal Dutch Shell plans to buy a 50% stake in Indian-based Nayara Energy’s $9 billion planned petrochemical project, according to a Reuter’s report. Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities. They are looking to meet an … Read more Shell Plans to Buy Stake in Nayara’s $9 billion Indian Petchem Project

Iran Inaugarates Two Methanol Projects

President Hassan Rouhani of Iran on Thursday inaugurated the world’s largest methanol producing plant in the country’s southern province of Bushehr through a ceremony held via videoconference, according to a news report by Tasnim News Agency. President Rouhani simultaneously ordered the opening of two energy projects in Bushehr and one in the western province of … Read more Iran Inaugarates Two Methanol Projects

Sibur may Draw Money from Russian Wealth Fund to Build Amur Gas Complex

Sibur, Russia’s largest petrochemicals producer may use money from the country’s National Wealth Fund to help finance the construction of its planned Amur Gas Chemical Complex, as per Reuter’s report. After increasing the scale of the gas chemical complex in Russia’s Far East, Sibur expects to invest $10-$11 billion, a rise from initial estimates of … Read more Sibur may Draw Money from Russian Wealth Fund to Build Amur Gas Complex

Indian Oil Corp Petchem Segment’s YoY Sales Decline by 20%

Indian Oil Corporation Ltd (IOCL)., one of the major petrochemicals manufacturers based in India announced its results for the first quarter ended June 30, 2020. Petrochemicals Segment Q1 Results- QoQ The company’s net profit declined 6% to Rs 495.1 crores ($65.9 million) for the period ended June 30, 2020 as against net profit of Rs … Read more Indian Oil Corp Petchem Segment’s YoY Sales Decline by 20%