Aramco and Rongsheng Petrochemical (Rongsheng) planned to buy stake in each other’s units, according to a memorandum of understanding (MOU) the two sides signed. The MOU is another milestone following the agreement the two parties reached in March last year, marking an important step forward in fostering cross-border investment. Under the MOU, Aramco and Rongsheng … Read more
In a strategic move to enhance its business portfolio and reinforce its commitment to sustainable growth, Mitsubishi Chemical Group Corporation has recently announced the decision to transfer shares of its subsidiary, PT Mitsubishi Chemical Indonesia (MCCI). The shares will be transferred to PT Lintas Citra Pratama, a company with plans to commercialize paraxylene, a key … Read more
Brenntag, the global market leader in chemicals and ingredients distribution, announced the agreement to acquire Solventis Group, a glycols and solvents distribution company operating from Antwerp, Belgium, and from the UK. Ewout van Jarwaarde, Chief Executive Officer Brenntag Essentials, commented: “Brenntag Essentials combines a cost-efficient network of last mile service operations with regional sourcing and … Read more
Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed the framework agreement, following the MoU that was signed in 7th of December 2022 to outline the development of the first phase of the green hydrogen project in Egypt with a capacity of … Read more
OCI Global, a leading global producer and distributor of hydrogen products announced that it has reached an agreement for the sale of 100% of its indirect interest in its large-scale US greenfield nitrogen fertilizer facility Iowa Fertilizer Company LLC, located in Wever, Iowa, USA to Koch Ag & Energy Solutions for a total consideration of … Read more
Abu Dhabi National Oil Company P.J.S.C. (ADNOC) and OCI Global, announced that they have entered into a sale and purchase agreement for the acquisition by ADNOC of OCI’s entire majority shareholding in Fertiglobe plc. Fertiglobe is listed on the Abu Dhabi Securities Exchange and is the world’s largest seaborne exporter of urea and ammonia … Read more
Solvay is partnering with ENOWA, NEOM’s energy and water company, to establish the world’s first carbon-neutral soda ash production facility in NEOM, Saudi Arabia. Pending the results of an in-depth feasibility study and customary regulatory approvals, Solvay and ENOWA plan to begin operation of the groundbreaking plant by 2030. The facility is poised to emerge … Read more
Dow launched two caustic soda products – Caustic DEC and TRACELIGHT™ DEC, part of Dow’s Decarbia™ portfolio of reduced-carbon solutions, with up to 90% lower carbon dioxide*. Powered by renewable energy, this electrolysis production process helps lower our customers` Scope 3 emissions, thereby supporting their sustainability goals while maintaining the same product quality. The electrolysis … Read more
INEOS has announced an agreement with LyondellBasell to buy its Ethylene Oxide (EO) and Derivatives business including the Bayport Underwood site, Texas. The deal includes the 420 kt Ethylene Oxide plant, the 375 kt Ethylene Glycols plant and the 165kt Glycol Ethers plant together with all associated third-party business on the site, for $700 million. … Read more
Chevron Corporation has announced an expected organic capital expenditure range of US$15.5 – US$16.5 billion for consolidated subsidiaries (CAPEX) and an affiliate capital expenditure (affiliate CAPEX) budget of approximately US$3 billion for 2024. Upstream spending in 2024 is expected to be about US$14 billion. Of this planned expenditure, two thirds is allocated to the United … Read more
Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, is set to develop in the largest green hydrogen facility in Indonesia with PT Perusahaan Listrik Negara (PLN), Indonesia’s state-owned electricity provider and PT Pupuk Indonesia, a state-owned fertiliser and chemical producer. The announcement was … Read more
KBR announced that its PurifierTM ammonia technology has been selected by PT Pupuk Sriwidjaja Palembang (Pusri), a subsidiary of PT Pupuk Indonesia for its planned Pusri 3B Ammonia Plant to be built in South Sumatera Province, Indonesia. This will be KBR’s twelfth ammonia plant licensed to Pupuk Indonesia. Under the terms of the contract, KBR will provide … Read more
Dow announced that its board of directors has declared Final Investment Decision on the Company’s Fort Saskatchewan Path2Zero investment to build the world’s first net-zeroi Scope 1 and 2 emissionsii integrated ethylene cracker and derivatives facility in Alberta, Canada. Aerial photograph of Dow, Inc.’s manufacturing site in Fort Saskatchewan, Alberta, Canada The $6.5 billion project, excluding governmental incentives and subsidies, includes … Read more
Diamines and Chemicals Limited, a prominent player in the chemical industry, has recently received a communication from the Gujarat Pollution Control Board (GPCB) regarding the proposed expansion of synthetic organic chemicals within its existing manufacturing unit situated at Plot No. 13, PCC Area, P.O. Petrochemicals, Vadodara-391350. Consolidated Consent & Authorization (CC&A): The company has … Read more
Australian green hydrogen and methanol project developer, ABEL Energy, has confirmed the selection of Johnson Matthey (JM) and SunGas Renewables as the suppliers for two of the key technologies to be deployed for the Bell Bay Powerfuels Project in Northern Tasmania. ABEL Energy has been working closely with JM and SunGas Renewables on the design and … Read more
Hindustan Petroleum Corporation Limited (HPCL) has made significant investments totalling $864 million (Rs. 7,196 crores) in the period of April to September 2023, which includes equity investments in joint ventures and subsidiaries, aimed at enhancing its refining and marketing infrastructure. One notable achievement is the successful commissioning of the Visakhapatnam Refinery Modernization Project’s New Hydrogen … Read more
In line with its expansion strategy, Tuticorin Alkali Chemicals and Fertilizers Limited (TFL) is embarking on a journey to increase its production capacity. The financing for this expansion primarily relies on loans and internal earnings. The expansion project encompasses both Soda Ash and Ammonium Chloride and is slated for completion in September. The current … Read more
Brenntag, the global market leader in chemicals and ingredients distribution, today announced the acquisition of OWI Chlor Alkali (Old World Specialty Chemicals, LLC, and Old World Logistics, LLC) from Old World Industries, LLC in Northbrook, Illinois. The business units will be integrated into Brenntag Essentials’ existing network in North America, significantly expanding Brenntag Essentials’ local … Read more
Gentari, the clean energy division of Malaysia’s Petronas and AM Green, set up by the founders of Greenko, announced the signing of definitive agreements together with an affiliate of GIC to produce 5 million tons per annum (MTPA) of green ammonia by 2030 – equivalent to about 1 MTPA of green hydrogen. Mr Navjit Gill, … Read more
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced that it has reached an agreement with Air Liquide Engineering & Construction to acquire rights to license and market ester grade acrylic acid technology, and light and heavy acrylates process technology. The addition expands Lummus’ portfolio for propylene production and derivative products, … Read more