Tata Chemicals Ltd. has announced fall in net profit for its fourth quarter and full-year ended 31 March. Q4 Results The company’s consolidated net profit slumped 85% to Rs 290 million ($3.93 million) in fourth quarter 2020-21 compared to prior year quarter’s Rs 1.98 billion ($26.8 million). Revenue from operations grew 11% to Rs 26.36 … Read more
Reliance Industries Limited announced fall in Oil to Chemicals segment (O2C Limited) earnings for full-year 2020-21 due to lower margins and weak demand. Fourth Quarter YoY: 4Q FY20 revenue from the Oil to Chemicals segment increased by 4% Y-o-Y to Rs 1010.8 billion ($ 13.6 billion) as against Rs 967.32 billion ($ 13.03 billion) in … Read more
Maire Tecnimont S.p.A. announced that its subsidiaries Tecnimont S.p.A. and Mumbai-based Tecnimont Private Limited have been awarded an EPCC (Engineering, Procurement, Construction and Commissioning) Lump Sum contract by Indian Oil Corporation Limited (IOCL), for the implementation of a new Para-Xylene (PX) plant and the relevant offsites facilities. The plant will be located in Paradip, in … Read more
Phillips Carbon Black Ltd., a carbon black manufacturer in India, announced its results for the final quar-ter and financial year ended 31 March 2021. Q4 YoY Results:The company’s net profit increased 75.6% to Rs 127.73 crore ($17 million) in the quarter ended March 2021 as against Rs 72.76 crore ($9.7 million) during the prior year … Read more
India’s Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it has dispatched the first consignment of acrylic acid from its Propylene Derivative Petrochemical (PDP) complex at Kochi Refinery. Acrylic Acid is one of the six niche petrochemical products produced in the new PDP Complex at Kochi Refinery. Built at the cost of Rs 6,000 crore … Read more
Shell Nanhai BV and China National Offshore Oil Corp. (CNOOC) have started up new units to complete the Phase 2 expansion of their 50-50 joint venture CNOOC & Shell Petrochemicals Co. Ltd.’s (CSPC) petrochemical complex to supply the Chinese market with essential petrochemicals. Newly commissioned installations include China’s largest styrene monomer and propylene oxide (SMPO), … Read more
Indian Oil Corporation (IOCL) has awarded engineering, procurement, construction and commissioning (EPCC) contract to Technip Energies to upgrade the Barauni Refinery in India. The Barauni refinery is situated on a 3.59 km² site in the Begusarai district of Bihar, approximately 140km away from Patna. IOCL is undertaking BR9 Expansion Project with an investment of $1.9 … Read more
ICL, a leading global specialty minerals and specialty chemicals company, said it signed a contract with Indian Potash Limited (IPL), India’s largest importer of potash, to supply an aggregate 600,000 metric tons of potash – with mutual options for an additional 50,000 metric tons – to be supplied through December 2021. The company added that … Read more
China has approved merger of Sinochem Group and ChemChina Group, according to the country’s top state assets regulator. Sinochem Group and ChemChina Group have received approval to implement joint restructuring, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said late Wednesday in a statement on its website. The two companies will … Read more
Tamilnadu Petroproducts Ltd (TPL) plans to increase the capacity of its linear alkyl benzene (LAB) and caustic soda plants and set up a new propylene recovery unit (PRU) at its complex at Manali in southern Tamil Nadu state as part its expansion plans, it said. The expansion project is estimated to cost around Indian Rupees … Read more
Celanese Corporation announced that its Clear Lake, Texas integrated chemical manufacturing facility will begin utilizing recycled carbon dioxide (CO2) as an alternative feedstock in the production of methanol. Methanol is a key raw material in the manufacture of numerous acetyls products, including acetic acid, vinyl acetate monomer (VAM), ethyl acetate and other derivatives. This carbon … Read more
Honeywell International, Inc. announced that Lotte GS Chemical Corp. will use Honeywell UOP Q-Max, Phenol 3G, and Evonik MSHP technologies to produce more than 565,000 metric tons per year of phenol and acetone at its petrochemicals facility in Yeosu, Korea. UOP is providing a license for the technology, in addition to basic engineering design services, … Read more
Hyundai Heavy Industries Holdings (HHIH) has signed a memorandum of understanding with Saudi Aramco on blue hydrogen and ammonia projects, Yonhap News Agency reported on March 4. As per the MOU, Hyundai Oilbank, the oil refinery unit of HHIH, will import LPG from Aramco to convert into blue hydrogen, which is hydrogen produced from fossil … Read more
Rama Phosphates has commenced commercial production of Sulphuric Acid and its derivatives from the new manufacturing facility (Unit-2) at its existing factory premises at Indore with effect from February 23, 2021. With this capacity addition of 55,000 tons per annum (TPA) from Unit-2, the company’s overall annual production capacity of Sulphuric Acid would be 155,000 … Read more
India’s Reliance Industries Ltd. (RIL) has started carving out its new oil-to-chemicals (O2C) operation into an independent unit with a $25 billion loan from the parent company. The wholly owned unit’s assets will be funded by the interest-bearing loan, which will be an “efficient mechanism to upstream cash, including any potential capital receipts,” in the … Read more
IG Petrochemicals, an established market leader in Phthalic Anhydride (PA) in India announced a capital outlay of Rs 600 crore ($82.6 million) to expand its Phthalic Anhydride capacity. The Board of I G Petrochemicals at its meeting held on 09 February 2021 has approved the greenfield expansion of Phthalic Anhydride up to 80,000 MTPA & … Read more
Shell committed to expanding its chemical business on Thursday, setting targets for the division as it moves the company towards net carbon neutrality. In a strategy update, the company’s CEO Ben van Beurden laid out targets to increase cash generation from chemicals by $1-2 billion per year and reduce exposure to commodity chemicals by around … Read more
India’s Bodal Chemicals Limited has entered into Business Transfer Agreement (BTA) with Mawana Sugar Limited (MSL) to acquire its chlor-alkali plant known as Siel Chemical Complex (SCC) at Rajpura, Punjab. Bodal stated that the proposed acquisition will help the Company in diversification of its existing chemicals product line by adding new products. SCC is engaged … Read more
Lummus Technology announced an award for its Indmax Fluid Catalytic Cracking (FCC) technology from Numaligarh Refinery Ltd. (NRL), a subsidiary of Bharat Petroleum Corporation Ltd. (BPCL). The Indmax FCC unit is part of NRL’s refinery expansion project, which will increase crude processing capacity from the current 3 MMTPA to 9 MMTPA at their facilities in … Read more
UPL Ltd., an Indian fertilizer manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 75.79% to Rs 944 crores ($129.6 million) for the period ended December 31, 2020 as against net profit of Rs 537 crores ($73.7 million) for the previous quarter. Net sales … Read more