GHCL Ltd., a chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit grew by 144.1% to Rs 2.71 billion for the period ended March 31, 2022 as against Rs 1.11 billion for the period ended March 31, 2021. Net sales increased by … Read more
Tata Chemicals Ltd., a chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit grew by 3622% to Rs 4.38 billion for the period ended March 31, 2022 as against Rs 117.7 million for the period ended March 31, 2021. Net sales increased … Read more
Lummus Technology has announced a partnership with Braskem, one of the largest biopolymer producers in the world, to license green ethylene technology. Lummus and Braskem will license worldwide technology to produce green ethylene and accelerate the use of bioethanol for chemicals and plastics, supporting the industry’s efforts towards a carbon-neutral circular economy. “We are truly … Read more
India’s Atul Reports 22.2% Decline in FY22 Q4 Net Profit Atul Ltd., an Indian chemicals manufacturer has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit dropped by 22.2% to Rs 1.36 billion for the period ended March 31, 2022 as against Rs 1.75 billion for the period … Read more
Reliance Industries announced that it has signed a shareholder agreement with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) for an investment of $2 billion for the TA’ZIZ EDC & PVC project. Reliance is a strategic partner with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, in TA’ZIZ … Read more
Meghmani Finechem Ltd., an Indian Chlor-Alkali products manufacturer has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit grew by 202.4% to Rs 990 million for the period ended March 31, 2022 as against Rs 327.6 million for the period ended March 31, 2021. Net sales increased by … Read more
Abu Dhabi’s renewable energy company Masdar and its Cairo-based partner Hassan Allam Utilities, have secured Egypt’s support to develop green hydrogen hubs on the Red Sea and the Mediterranean coasts of the country, targeting up to 4 GW of electrolysers by 2030. The partners signed two memoranda of understanding (MoUs) with the New and Renewable … Read more
LyondellBasell announced its decision to cease operation of its Houston Refinery no later than December 31, 2023. In the interim, the Company will continue serving the fuels market, which is expected to remain strong in the near-term, and consider potential transactions and alternatives for the site. The company revealed its intentions to sell the refinery … Read more
Sumitomo Chemical announced its decision to close down its production facilities for caprolactam at its Ehime Works, Niihama city, Ehime, Japan in October 2022, and exit the business. Sumitomo Chemical started production of caprolactam at its Ehime Works in 1965, employing a liquid-phase process, and has since been engaged in the business for more than … Read more
INEOS Nitriles, a subsidiary of INEOS has announced plans to construct a 15,000-tonne-per-year acetonitrile plant in Cologne, Germany, one of its key operating sites. It stated that the investment would be “substantial”. The company, which claims to be world’s larger producer of acetonitrile, said the intent is to improve supply to its European customer base … Read more
Enerkem, a world leader in t he production of low-carbon intensity biofuels and circular chemicals from waste materials, announces the closing of a new financing totaling $255 million. Repsol invests $170 million, of which $75 million is in Enerkem’s equity. In doing so, Repsol joins existing shareholder Suncor Energy as a strategic shareholder to accelerate … Read more
Baker Hughes and Dussur, a firm owned by the Saudi Arabian Public Investment Fund (PIF), Saudi Aramco and SABIC, have signed an agreement to form a joint venture company (JV) focused on providing oilfield and industrial chemicals in Saudi Arabia. The JV supports Baker Hughes’ efforts to better serve the chemical market in the region … Read more
Gujarat Alkalies and Chemicals Ltd (GACL) had earlier informed about updates on GACL-NALCO Alkalies & Chemicals Private Limited (GNAL), a Joint Venture Company between GACL and National Aluminium Company Limited (NALCO) formed to set up 800 TPD Caustic Soda Plant along with 130 MW Captive Power Plant at Dahej. GNAL is a Material Subsidiary of … Read more
Yara International ASA to continue the realisaton of its decarbonisation project at the ammonia plant in Herøya, Porsgrunn without Aker Clean Hydrogen AS and Statkraft AS. The project was launched in 2021 as a cooperation between Yara, Aker Clean Hydrogen and Statkraft, aiming to decarbonize Yara’s ammonia plant at Herøya in Porsgrunn and removing 800,000 … Read more
KBR announced that it has secured a contract from a leading midstream company for a world-scale olefins production facility to be built on the U.S. Gulf Coast. Under the terms of the contract, KBR will provide the license and engineering for the olefins production plant. KBR’s K-COTTM catalytic olefins technology is the key enabler that … Read more
ExxonMobil announced that construction of the new linear alpha olefins (LAO) manufacturing unit at its Baytown, Texas, integrated petrochemical complex is progressing and targeting commercial start up in mid-2023. When fully operational, the new facility will have the capacity to produce approximately 350,000 metric tons of LAO annually. ExxonMobil will manufacture 10 high-purity LAO products … Read more
Two Algerian companies along with two Chinese companies signed a Shareholders’ Pact for the creation of a joint-stock company under Algerian law to begin preliminary activities relating to the development of an integrated phosphates project (PPI). Algerian companies include Asmidal, a subsidiary of Sonatrach (Hydra, Algeria), and Manal. The Chinese companies include Wuhuan Engineering Co. … Read more
Maire Tecnimont S.p.A. announced that it has been awarded a project on an EPCM basis by a leading global chemicals producer for the implementation of a Blue Ammonia plant in the United States. The project is part of the US’s plan to develop its energy transition industrial vision. Tecnimont S.p.A., a main contractor of Maire … Read more
Oil India Limited announced that the Board of Directors at its meeting held on March 16, 2022, has approved Rs 65.55 billion ($861 million) investment by subsidiary company Numaligarh Refinery Limited (NRL) for implementation of petrochemical project at Numaligarh, Assam. The board also approved the formation of a joint venture company between Assam Gas Company … Read more
Solvay announced it is reviewing plans to separate the Company into two independent publicly traded companies: EssentialCo would comprise leading mono-technology businesses including Soda Ash, Peroxides, Silica and Coatis, which are reported as the Company’s Chemicals segment, as well as the Special Chem business. These businesses generated approximately €4.1 bn in net sales in 2021. … Read more