GAIL (India) Ltd., one of India’s state-owned natural gas and petrochemicals manufacturer, announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company’s net profit rose 171% to Rs 3,018 crores ($400 million) for the period ended March 31, 2020 as against Rs 1,112 crores ($147 million) for the … Read more
Royal Dutch Shell is writing down the value of its oil and gas assets by up to $22 billion as it adjusts the oil’s historic crash in recent months. Shell updated its mid and long-term price and refining margin forecast in the second quarter of 2020 reflecting the anticipated impact of the COVID-19 pandemic and … Read more
BP’s Aromatics and Acetyls business consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 leading joint ventures. INEOS announced its intention to purchase the global Aromatics and Acetyls businesses of BP for a consideration of $5 billion. Aromatics provide the building blocks … Read more
Indo Rama Synthetics (India) Limited, one of India’s major polyester manufacturer, announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company reported a net loss of Rs 49.84 crores (-$6.6 million) for the quarter ended March 31, 2020 as compared to a net loss of Rs 169.33 crores … Read more
Reliance Industries Ltd said it is working to complete contours of a $15 billion deal with Saudi Aramco but did not give a timeline for its completion. In August last year, RIL ‘s Chairman & Managing Director, Mukesh Ambani, announced talks to sell 20% of the oil-to-chemical (O2C) business, which includes its twin oil refineries … Read more
Alufluoride Ltd., a aluminum fluoride manufacturer based in India has reported its financial results for the period ended March 31, 2020. Q4 Results The company’s net profit rose 55.8% to Rs 2.29 crores ($0.3 million) for the period ended March 31, 2020 as against Rs 1.47 crores ($0.2 million) for the period ended March 31, … Read more
Khaitan Chemicals & Fertilizers Ltd., a chemicals and fertilizers manufacturer based in India has reported its financial results for the period ended March 31, 2020. Q4 Results The company’s net profit rose 1356.1% to Rs 5.97 crores ($0.79 million) for the period ended March 31, 2020 as against Rs 0.41 crores ($0.054 million) for the … Read more
Gujarat Alkalies & Chemicals Ltd., an Indian chlor-alkali manufacturer has reported its financial results for the period ended March 31, 2020. Q4 Results For the quarter, the company has posted a net profit of Rs 11.40 crores ($1.5 million), a 93.3% decline as against Rs 168.93 crores ($22.3 million) during the prior-year quarter. Net sales … Read more
HPCL (Hindustan Petroleum Corporation Limited), an Indian oil & gas marketing company has reported its financial results for the period ended March 31, 2020. Q4 Results For the quarter, the company has posted net loss of Rs (27.63) crores (-$3.6 million), a 101% decline as against net profit of Rs 3340.03 crores ($440.9 million) during … Read more
Sinopec, China’s state-owned refiner has started its 200,000 bpd (barrel per day) Zhanjiang refinery in the southern province of Guangdong. Operations began on 16th June at the refinery’s crude units and some secondary units, Sinopec said. Situated in coastal city of Zhanjiang, the refinery comprises a 200,000 bpd (barrel per day) crude oil refinery and … Read more
Aramco has announced the successful completion of its share acquisition of a 70% stake in Saudi Basic Industries Corp. (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion ($69.1 billion), equating to SAR 123.39 ($32.89) price per share. The acquisition enhances … Read more
Vinyl Chemicals India Ltd., an Indian VAM (vinyl acetate monomer) manufacturer has reported financial results for the period ended March 31, 2020. Q4 Results The company’s net profit fell by 93.07% to Rs 0.25 crore ($0.03 million) for the period ended March 31, 2020 as against Rs 3.61 crores ($0.47 million) for the period ended … Read more
Mitsui Prime Advanced Compounds Europe, a joint venture between Mitsui Chemicals (75%), Mitsui & Co. (15%) and Prime Polymer Co. (10%), has commissioned its first polypropylene (PP) compounding plant in Europe. Located within Chemelot Industrial Park in the Netherlands, Advanced Compounds Europe marks Mitsui Chemicals Group’s first polypropylene (PP) compounding site in Europe. The facility … Read more
Rashtriya Chemicals & Fertilizers Ltd., an Indian government-owned chemicals & fertilizers manufacturer has reported financial results for the period ended March 31, 2020. Q4 Results The company’s net profit increased 201.91% to Rs 142.38 crores ($18.7 million) for the period ended March 31, 2020 as against net profit of Rs 47.16 crores ($6.2 million) for … Read more
DCM Shriram Limited, an Indian Chloralkali and PVC manufacturer has reported financial results for the period ended March 31, 2020. Q4 Results The company’s net profit declined by 29.01% to Rs.207.38 crores ($27.5 million) for the period ended March 31, 2020 as against Rs. 292.14 crores ($38.7 million) for the period ended March 31, 2019. … Read more
Chennai Petroleum Corporation Limited (CPCL) has proposed the implementation of the 9 million tons per annum Refinery Project in Cauvery Basin Refinery (Nagapattinam, Tamil Nadu), to the Board of Indian Oil Corporation Limited (IOCL). To implement this plan, CPCL’s Board of directors proposed a joint venture with IOCL, at an anticipated cost of Rs 28,983 … Read more
Formosa, a Taiwanese steam cracker operator announced the restart of production at its No.2 ethylene cracker in Mailiao following a shutdown last week. Due to technical issues, the 720,000 tonne per year cracker was taken off line on 1st June. The issue did not appear to result in any shutdown or reduction of operations at … Read more
BP has agreed to license its latest-generation PTA technology to China’s Dongying Weilian Chemical. Under the terms of the contract, BP will license its latest generation of PTA technology to Dongying United Petrochemical for the production of purified terephthalic acid in China. A subsidiary of Dongying United Petrochemical, Weilian Chemical plans to build a 2.5 … Read more
China approved a $20 billion petrochemical project in eastern Shandong province, Reuters reported on Tuesday, citing two industry sources familiar with the approval process. China’s National Development & Reform Commission (NDRC) approved the Shandong Yulong Petrochemical project on Monday, Reuters’ sources said. The project, which includes a 400,000 barrel-per-day refinery and a 3 million tonne … Read more
Chambal Fertilisers and Chemicals announced its results for the quarter and financial year ended 31 March 2020. The chemicals & fertilizers maker reported a 121.73% jump in standalone net profit to Rs 203.70 crore ($26.9 million) in the quarter ended March 2020 as against Rs 91.87 crore ($12.1 million) during the pre-vious quarter ended March … Read more