Satia Industries Limited, an Indian paper manufacturer announced it plans to build a 42,000 metric ton per year satellite precipitated calcium carbonate (PCC) plant at its paper mill in Sri Muktsar Sahib, Punjab District, India. The company has signed an agreement with Minerals Technologies Inc., a global mineral technology provider, to build and operate the … Read more
Gujarat Heavy Chemicals Ltd (GHCL) reported a 28.94% decline in consolidated net profit to Rs 84.86 crore ($11.2 million) in the fourth quarter ended March 31, on weak sales. The company had posted a consolidated net profit of Rs 119.43 crore ($15.7 million) in the prior year quarter, GHCL said in a regulatory filing. Revenue … Read more
CNOOC Oil & Petrochemicals Co. Ltd (CNOOC), Shell Nanhai B.V (Shell) and the Huizhou Government announced a strategic cooperation agreement to further expand the CNOOC and Shell Petrochemical Company (CSPC) 50:50 joint venture in Huizhou, Guangdong Province, China. CSPC’s phase three petrochemical complex will include a 1.5 million metric ton per year ethylene cracker, as … Read more
Indian Potash Limited (IPL), India’s major importer of fertilizers has signed potash import agreements with Belarusian Potash Company (BPC) and ICL to meet the growing agriculture demand after the country has eased lockdown measures. Indian Potash Limited (IPL) signed import tender with Belarusian Potash Company to supply potash fertilizers to India. The fertilizers will be … Read more
India to consider imposing a 15% “Covid-19” import tax on chemicals to help protect its domestic industry from major exporting nations in East and SE Asia. The domestic industry has been badly affected by a major demand slump as a result of nationwide coronavirus lockdown. The new tax, which would be in effect from 1st May … Read more
Tata Chemicals Ltd. has announced fall in net profit for its fourth quarter and full-year ended 31 March. The company’s consolidated net profit slumped 48% to Rs 197.56 crore ($26.1 million) in fourth quarter 2019-20 compared to prior year quarter’s Rs 383 crore ($50.6 million). Revenue from operations declined 7% to Rs 2,378.09 crore ($314.3 … Read more
Air Products announced on Thursday it has signed a definitive agreement for a long-term on-site contract for a world-scale coal-to-methanol production facility in Bengalon, East Kalimantan, Indonesia. Under the long-term on-site contract, PT. Bakrie Capital Indonesia, part of the Bakrie Group, and PT. Ithaca Resources, part of the PT. AP Investment, will supply the coal … Read more
Tata Chemicals Ltd. resume operations at its manufacturing facilities located at Andhra Pradesh and Tamil Nadu as authorities issue lockdown exemptions for manufacturing operations. The company informed the exchanges on Monday that it is ensuring compliance with the directives issued by the authorities in this regard and is continuing to take various measures to ensure … Read more
Gulf Cooperation Council (GCC) mono ethylene glycol (MEG) imports into India may be severely hurt as a result of an ongoing anti-dumping investigation targeting imports from Oman, Saudi Arabia, Kuwait & UAE, according to the Gulf Petrochemicals and Chemicals Association (GPCA). According to GPCA analysis, the inconsistent investigative practices by Indian authorities on anti-dumping regulations … Read more
Indian Oil Corporation (IndianOil) has re-started several process units at its refineries that were down due to the lockdown. After the lockdown came into force in March, the state-run refiner cut its overall run rate by 30% to adjust operations due to a slump in demand. At some refineries, throughput levels were brought down to … Read more
A gas leak at LG Polymers India Pvt Ltd polymer plant at Visakhapatnam, India left at least eight dead and about 800 people sick. The incident took place on 7 May at around 02:30 am IST. The gas reportedly started leaking when the workers were preparing to reopen the plant today post lockdown. The gas … Read more
Chambal Fertilizers and Chemicals (CFCL), Gadepan, India, has successfully commissioned a new plant using KBR’s PurifierTM ammonia technology, which is now the world’s most energy efficient plant per tonne of ammonia produced. CFCL has two existing ammonia plants with a capacity of 1,710 metric ton per day that were revamped by KBR in 2009 to … Read more
Reliance Industries Limited announced fall in petrochemical earnings for full-year 2019-20 due to lower margins and weak demand in the last quarter due to COVID –19 pandemic. Fourth Quarter: 4Q FY20 revenue from the Petrochemicals segment decreased by 24.1% Y-o-Y to Rs 32,206 crore ($4.3 billion) due to lower price realizations along with disruptions in … Read more
Deepak Nitrite’s fully-owned subsidiary Deepak Phenolics to begin production of isopropyl alcohol (IPA) at its plant in Dahej, Gujarat, India. The company confirmed in its official disclosure to the Bombay Stock Exchange that the company commissioned a 30,000 metric ton per annum plant at Dahej to make Isopropyl Alcohol (IPA) from Acetone, thus significantly reducing … Read more
India’s chemical exports rose by 7% to Rs 2.68 lakh crore ($35.2 billion) during April-January period of the last fiscal, and became the top exporting sector in the country for the first time, the government said on Saturday. “Union Minister of Chemicals and Fertilisers D V Sadananda Gowda congratulated the chemicals and petrochemicals industry on becoming the … Read more
Saudi Aramco’s plan to buy $15-billion stake in Reliance Industries hydrocarbon business may not go through due to the rising risk of collapsing oil prices, US-based brokerage Bernstein has warned. The unique combination of excess crude oil global supply, 30% drop in demand due to coronavirus crisis and continuous price fall weighed heavily on Aramco’s … Read more
ExxonMobil on Wednesday broke ground on its solely funded petrochemical chemical complex in Huizhou, southern China’s Guangdong Province, according to a report by Chinese media Xinhuanet. A special “cloud ceremony” was conducted online with video links connecting the Huizhou Dayawan Petrochemical Industrial Park and locations in Beijing and Dallas due to the COVID-19 pandemic. The … Read more
Nova Chemicals is resuming construction activities at its new polyethylene plant and the cracker expansion project in a phased manner. The company said it has slowly increased the number of employees engaged in the construction of the Corunna site starting Thursday, April 16. Late last month Nova Chemicals announced that most of the construction workers … Read more
Saudi Aramco is in early discussions with lenders for a loan of approximately $10 billion to help fund its purchase of a 70% stake in Saudi Basic Industries Corp (SABIC), according to a Reuters report. Last year, Aramco agreed to buy SABIC’s majority stake from the Kingdom’s wealth fund for $69.1 billion, signing one of … Read more
Borealis last week issued a force majeure declaration for its Stenungsund steam cracker in Sweden. A spokesperson from the company said that on 8th of April the company declared force majeure for its cracker operations in Stenungsund due to a “technical incident”. The cracker in Stenungsund can produce 625,000 metric tons of ethylene per annum. … Read more