Commodity Chemicals

Sumitomo Chemical Invests in Conagen, Completes Acquisition of Subsidiaries of Nufarm

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Sumitomo Chemical announced on 2nd April that it invested $30 million in Conagen, a U.S. biotechnology company. The company has conducted joint research with Conagen since 2018 on the biosynthesis of existing chemicals. The fresh investment will further promote its strategic business alliance with Conagen and develop innovative high functional products and processes by way … Read more Sumitomo Chemical Invests in Conagen, Completes Acquisition of Subsidiaries of Nufarm

Nova Chemicals Suspends Construction Activities on Ontario and Alberta Projects

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Nova Chemicals Corp. is making substantial reductions in its construction activities in the wake of the COVID-19 pandemic. “We are adjusting construction work on our new AST2 polyethylene facility and Corunna cracker expansion projects in Ontario to temporarily focus on only the most critical work, which will result in a reduction of approximately 90% of … Read more Nova Chemicals Suspends Construction Activities on Ontario and Alberta Projects

Methanex to Delay Geismar 3 Spending for up to 18 Months

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Methanex Corporation (TSX:MX) (NASDAQ:MEOH) said it is taking action to defer approximately $500 million of previously announced capital spending on its Geismar 3 methanol project for up to 18 months. The decision was made considering the significant uncertainty in the global economy from the COVID-19 pandemic, resulting in a challenging commodity price and project execution … Read more Methanex to Delay Geismar 3 Spending for up to 18 Months

LyondellBasell to Slow Construction on PO/TBA Project

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LyondellBasell announced on Monday that it will slow construction of its propylene oxide (PO) and tertiary butyl alcohol (TBA) facility in Channelview, Texas. The company is limiting non-essential activities considering the current concerns related to the coronavirus pandemic. The PO / TBA site is under construction and limiting the construction activities will be prudent, according … Read more LyondellBasell to Slow Construction on PO/TBA Project

Advanced Petrochemical and SK Gas Plan $1.8B PDH/PP Complex

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Advanced Global Investment Company (AGIC), a subsidiary of PP producer Advanced Petrochemical, has agreed to form a joint venture with South Korea’s SK Gas and build a propane dehydrogenation (PDH)/PP complex at Jubail, Saudi Arabia. The JV agreement follows a Memorandum of Understanding (MoU) signed in June, 2019. The new entity, called Advanced Polyolefins, will … Read more Advanced Petrochemical and SK Gas Plan $1.8B PDH/PP Complex

Air Products to Acquire Five Hydrogen Plants from PBF Energy

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Air Products (NYSE: APD) has reached an agreement with PBF Energy Inc. (NYSE: PBF) that include the acquisition of $530 million of five hydrogen steam methane reformers (SMR) hydrogen production plants and the long-term supply of hydrogen to PBF refiners from those already operating plants. Located in Torrance and Martinez, California and Delaware City, the … Read more Air Products to Acquire Five Hydrogen Plants from PBF Energy

ACC Urges G20 Leaders to Lift Trade Barriers on Products needed for COVID-19

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The American Chemistry Council (ACC) urged G20 leaders to lift tariffs and export restrictions to improve access to the products necessary to healthcare workers during the COVID-19 pandemic. American Chemistry Council (ACC) President and CEO, Chris Jahn, in response to the virtual G20 summit, said, “U.S. chemicals manufacturers are calling for G20 leaders to increase … Read more ACC Urges G20 Leaders to Lift Trade Barriers on Products needed for COVID-19

Sinopec Shanghai Petrochemical’s Net Profit Falls

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Sinopec Shanghai Petrochemical Company Limited (HKEX: 00338; SSE: 600688; NYSE: SHI) announced the annual results for the twelve months ended 31st December 2019. Net sales of the company in 2019 amounted to RMB88.1 billion ($12.45 billion), a decrease of 7.90% from the previous year’s RMB95.6 million ($13.5 billion). The decrease in sales was attributed to … Read more Sinopec Shanghai Petrochemical’s Net Profit Falls

Indorama Extends the Completion of Corpus Christi Plant to 2023

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Indorama Ventures Limited has announced that the company decided to extend the pre-construction period of the PTA-PET plant in Corpus Christi, Texas through the end of 2020. Christi Polymers LLC (CCP), a joint venture among certain subsidiaries of Indorama Ventures Holding, Alpek and Far Eastern Investment (Holding) Limited was created to acquire and complete construction … Read more Indorama Extends the Completion of Corpus Christi Plant to 2023

BASF to Make Hand Sanitizers at Ludwigshafen Site

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BASF wants to help solve the existing hand sanitizer shortage that emerged as a result of considerably increased demand due to the spread of novel coronavirus. In order to make this possible, several preconditions have been met over the past few days to enable the manufacture of medical disinfectants at the Ludwigshafen site itself. BASF … Read more BASF to Make Hand Sanitizers at Ludwigshafen Site

Sasol Considers $2B Rights Issue, in Talks to Sell LCCP Assets

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Sasol said on Tuesday that it aims to generate $6 billion by the end of financial year 2021 as it seeks to stabilise its balance sheet. The energy and chemicals major is battling high debt, the impact of the corona virus outbreak and falls in oil and chemical prices. Sasol said it could sell up … Read more Sasol Considers $2B Rights Issue, in Talks to Sell LCCP Assets

Domo Chemicals to Build Nylon Compounding Plant in China

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Domo Chemicals GmbH, a Germany-based materials manufacturer announced its plans to build a nylon compounding plant in Zhejiang, China in a move to increase its focus on the Asia Pacific region. The new plant will be capable of producing 50,000 ton of sustainable and innovative engineered nylon compounds each year, the company said in a … Read more Domo Chemicals to Build Nylon Compounding Plant in China

Lotte Chemical Halts Operations after Explosion at Daesan Complex

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Lotte Chemical on March 4 suspended the operation of nine plants following an explosion at its Daesan Complex in Daesan-eup, Seosan County, South Chungcheong Province, Business Korea reported. The accident is expected to have an impact on the ethylene market. Lotte Chemical produces 4.5 million ton per year of ethylene annually at home and abroad. … Read more Lotte Chemical Halts Operations after Explosion at Daesan Complex

Asahi Kasei to Discontinue Styrene Resins Business

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Asahi Kasei has decided to discontinue its business for the styrenic resins SAN (Styrene-acrylonitrile resin), ABS (Acrylonitrile butadiene styrene), and ACS. According to the company, the operations of SAN plant at Kawasaki Works will be closed in March 2021. The business to be discontinued began with the 1962 start-up of the SAN plant in Kawasaki, … Read more Asahi Kasei to Discontinue Styrene Resins Business

OMV in Talks with Mubadala over Borealis Stake

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Austria’s OMV is in talks with Abu Dhabi’s Mubadala Investment Company to acquire a controlling stake worth $4.68 billion in Borealis. The deal— which would increase OMV’s current shareholding in Borealis from 36% to 75%— is said to be potentially record-breaking and would shift OMV’s focus to petrochemicals. “The potential transaction would expand the value … Read more OMV in Talks with Mubadala over Borealis Stake

Sadara Chemical Reports Huge Losses, Sales Decline

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Sadara Chemical Company, a joint venture (JV) between Saudi Aramco and Dow, reported a huge loss in full-year of 2019 due to lower product prices and the costs of asset maintenance which reached SAR9.2 billion ($2.45 billion). Net loss was SAR14.486 billion ($3.86 billion), up from 2018’s SAR3.86 billion ($1.03 billion). Operating loss was at … Read more Sadara Chemical Reports Huge Losses, Sales Decline

Hyosung Vina to Use LyondellBasell’s Spheripol Tech for PP Plant

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LyondellBasell, the world’s largest licensor of polyolefin technologies, announced that Hyosung Vina Chemicals Co., Ltd. will use the LyondellBasell Spheripol technology for a new facility. The process technology will be used for a 300,000 ton per year polypropylene plant to be built in Cai Mep Industrial Zone, Vung Tau Province, Vietnam. “This additional award for … Read more Hyosung Vina to Use LyondellBasell’s Spheripol Tech for PP Plant

Lotte Chemical Shuts Production after Ethylene Cracker Explosion

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Lotte Chemical of South Korea shut down its ethylene cracker in Daesan after an explosion that injured at least 31 people. It also announced an indefinite force majeure on supplies. The explosion occurred on March 4, about 3 am South Korea time from a fire at a compressor unit within the naphtha cracker. The fire … Read more Lotte Chemical Shuts Production after Ethylene Cracker Explosion

ExxonMobil Restarts Fife Ethylene Plant in Scotland

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ExxonMobil Chemical has announced the restart of its Fife ethylene plant at Mossmorran, Scotland. The ethylene plant has been closed for maintenance since August when two out of the three boilers failed. The plant is one of Europe’s largest petrochemical cracker facilities with an ethylene production capacity of 830,000 metric tones per year. “In re-starting … Read more ExxonMobil Restarts Fife Ethylene Plant in Scotland

Reliance Acquires Stake in Alok Industries

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Reliance Industries announced on 29th Feb that it has acquired a controlling stake in textile manufacturer Alok Industries Ltd for Rs 250 crore ($34.3 million). Alongside JM Financial Asset Rehabilitation Co Ltd, Reliance had a bid to buy Alok Industries which had been auctioned by lenders under the insolvency and bankruptcy law to recover their … Read more Reliance Acquires Stake in Alok Industries