Brenntag, the global market leader in chemical and ingredients distribution, has signed an agreement to acquire Quimisa SA including its logistics subsidiary Quimilog. German Torres, Chief Executive Officer of Brenntag Latin America: “For Brenntag, the acquisition of Quimisa is an attractive investment with a strong infrastructure which will allow us to increase our market position … Read more
BASF will expand the capacity of ethylene oxide and ethylene oxide derivatives at its Verbund site in Antwerp, Belgium in line with its customer-focused corporate strategy. The total investment adds about 400,000 metric tons per year to BASF’s production capacity for the corresponding products with an expected investment amount exceeding €500 million ($544 million). “This … Read more
Arkema has completed the acquisition of its partner’s stake in Taixing Sunke Chemicals, its joint venture manufacturing acrylic monomers in China, and now becomes the sole shareholder of the company. With this transaction, which has approximately €70 million ($86 million) impact on the net debt, the Group will support the growth of its customers in … Read more
A major fire broke out at the naphtha cracker unit of the Haldia Petrochemicals Limited here on Friday injuring 15 people, reported Business Today with reference to a senior police officer’s statement. The fire broke out when a naphtha pipe line exploded during repair at the naphtha cracker unit. The fire was brought under control … Read more
ExxonMobil said Tuesday that it is investing £140 million ($174.7 million) to upgrade infrastructure and add new technologies to its ethylene plant in Mossmorran, Fife, Scotland to boost the performance and reliability of the site. “These planned investments demonstrate our commitment to long-term reliable operations at the site,” Jacob McAlister, plant manager of the Fife … Read more
SIBUR Holding (SIBUR) and China Petroleum & Chemical Corporation (Sinopec) signed a Memorandum of Understanding to cooperate in nitrile butadiene rubber (NBR) production. The MoU was signed at the meeting between the Russian Prime Minister Dmitry Medvedev and the Premier of the State Council of the People’s Republic of China Li Keqiang in St Petersburg. … Read more
Saudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais, as a result of terrorist attacks with projectiles, according to a media release from the company. These attacks resulted in production suspension of 5.7 million barrels of crude oil per day. After visiting the incident locations, Amin H Nasser, Saudi Aramco president … Read more
The Sarawak Petchem Sdn Bhd-owned methanol plant project’s ground breaking ceremony was held on Wednesday. The project is estimated to cost over RM 8 billion ($2 billion). The plant, which will have a production capacity of about 1.7 million tonnes per annum, will receive 160 million standard cubic feet per day of natural gas feedstock … Read more
MEGlobal America, a subsidiary of Kuwait-based petrochemicals producer Equate Group, has inaugurated the new Oyster Creek ethylene glycol plant in Oyster Creek, Texas. The Oyster Creek ethylene glycol plant has a capacity of 750,000 metric tons per annum. The plant will produce monoethylene and diethylene glycol products by capitalizing on US shale gas. Monoethylene and … Read more
Air Products announced a new joint venture (JV) with Debang Xinghua Technology Co., Ltd., a subsidiary of Jiangsu Debang Chemical Industrial Group Co., Ltd., to build, own and operate a coal-to-syngas processing facility in Xuwei National Petrochemical Park, Lianyungang City, Jiangsu Province, China. Air Products will own 80 percent of the JV, and Debang Group will own 20 percent. The JV will own and operate … Read more
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world announced it has signed a Memorandum of Understanding (MoU) to expand in China through a Joint Venture (JV) with the Liaoning Bora Enterprise Group (Bora). “China is the largest, fastest growing market in the world for our core products,” said Bob Patel, … Read more
Lack of demand from industrial customers and the global economic uncertainties continue to create problems for the German chemical and pharmaceutical industry. Weak numbers for the second quarter of 2019 have prompted the German Chemical Industry Association (VCI) to lower its full-year forecast for the third time in 2019. There is no improvement in sight, … Read more
Over the last two years SNF has added 75,000 metric tonne per year powder-grade polyacrylamide (PAM) production capacity globally to match the increased demand for EOR (Enhanced Oil Recovery) applications. By the end of 2020, SNF will add 75,000 metric tonne per year more. This 150,000 metric tonne per year, $1.2 billion worth new capacity … Read more
Koch Methanol Investments, LLC (Koch Methanol) and Yuhuang Chemical Industries Inc. (YCI), a wholly owned subsidiary of Shandong Yuhuang Chemical Company, have recapitalized YCI Methanol One, LLC (the “Joint Venture”). As a result of this transaction, Koch Methanol is the indirect, majority owner and managing member of the Joint Venture. The Joint Venture is currently … Read more
As part of the Company’s current slate of low capital intensity, high-return incremental growth investments, Dow announced it will retrofit proprietary fluidized catalytic dehydrogenation (FCDh) technology into one of its mixed-feed crackers in Plaquemine, Louisiana, to produce on-purpose propylene. The retrofit will enable Dow to continue to meet growing demand for its businesses serving consumer, … Read more
Saudi Aramco’s US subsidiary Motiva Enterprises has agreed to buy Flint Hills Resources’ cracker and related chemical assets at Port Arthur, Texas, USA. Financial terms were not disclosed. The deal is expected to close in the fourth quarter of 2019. The cracker has a capacity of around 700,000 tonnes/year for ethylene and around 300,000 tonnes/year … Read more
Rain Carbon Inc., a leading global producer of carbon-based products, initiated the phased start-up of its hydrogenated hydrocarbon resins production facility in Castrop-Rauxel, Germany on Thursday. Once operational in the fourth quarter of 2019, the state-of-the-art plant will have a permitted resins production capacity of up to 50,000 tons per year and will serve as … Read more
Dow announced that it has reached an agreement for the divestiture of its Acetone Derivatives business to ALTIVIA Ketones & Additives, LLC, an affiliate of ALTIVIA, a privately held producer of chemicals headquartered in Houston, Texas. “This divestiture illustrates Dow’s disciplined approach to portfolio management with a best owner mindset,” said Jim Fitterling, chief executive … Read more
Saudi Aramco signed a letter of intent for a proposed purchase of a 20% stake in the oil-to-chemicals (O2C) business of India’s Reliance Industries Ltd., including the 1.24 million barrels-a-day Jamnagar refining complex on the country’s west coast. Reliance values its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the … Read more
SKC of South Korea and Petrochemical Industries Company (PIC) of Kuwait have agreed to establish a propylene chemicals joint venture worth $1.2 billion. PIC will hold a 49 percent stake worth $476.2 million in the new company whereas South Korea’s SKC will hold the other 51 percent. SKC confirmed it will spin off its operations … Read more