AM Green Ammonia (India) Private Limited, a subsidiary of the Greenko Group, is set to acquire the urea and micro-irrigation divisions of Nagarjuna Fertilizers and Chemicals Ltd (NFCL) through a slump sale transaction, as confirmed in their stock exchange filing. The deal is valued at Rs 1,700 crore (Rs 17 billion). “The slump sale of … Read more
On Thursday, Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) announced its plans to enhance Nitric Acid production capacity at its Dahej facility in Gujarat. The expansion project is projected to cost Rs 19.50 billion. The company’s Board of Directors has given the green light to establish a Weak Nitric Acid (WNA) plant, with a targeted … Read more
Covestro has started production in its new plant for polyurethane elastomers systems at its integrated site in Shanghai, China. Groundbreaking for it had been announced in the summer of 2022. The investment is in the double-digit million Euro range. It is part of a series of investments in the Elastomers raw materials business the company … Read more
Saudi Arabia’s state-owned oil company Aramco reported a 38% drop in its net profit for the second quarter of 2023, as lower crude oil prices and weaker refining and chemicals margins weighed on its performance. The company posted a net income of $30.1 billion for the three months ended June 30, down from $48.4 billion … Read more
The Mitsubishi Chemical Group announces that it has decided to increase the γ-butyrolactone (gamma-butyrolactone; “GBL”) production capacity of its Okayama Plant (Kurashiki City, Okayama Prefecture) by 2,000 tons/year. This expanded production is scheduled to start in July 2024. GBL is a high-purity solvent used as an electrolyte for capacitors and semiconductor parts cleaning solutions. It … Read more
INEOS has completed the formation of a 50/50 joint venture with SINOPEC for the Tianjin Nangang Ethylene Project, announced in December 2022, which is currently under construction by SINOPEC and expected to be on-stream by April 2024. The petrochemical complex includes a 1.2 mtpa cracker, a new 500ktpa High-Density Polyethylene plant to produce INEOS pipe … Read more
McDermott has been awarded a project management consultancy (PMC) and engineering, procurement, and construction management (EPCM) contract for the Naphtha Cracker Expansion (Phase II) polypropylene expansion and new ethylene derivative unit project from Indian Oil Corporation Limited (IOCL). The project is located at the Panipat Refinery and Petrochemical Complex, located 62 miles (100 kilometers) from … Read more
Abu Dhabi National Oil Company (ADNOC) has officially announced its commencement of formal negotiations with OMV AG to explore the possibility of creating a new combined petrochemicals holding entity. The proposed merger aims to integrate their respective existing shareholdings in Borouge plc and Borealis AG. Currently, Borouge is listed on the Abu Dhabi Securities Exchange … Read more
Hy2gen, a leading company in the renewable energy sector, has recently unveiled its ambitious plans to construct a state-of-the-art renewable ammonia production facility in Campeche, Mexico. With a massive capacity of 200MW, the plant, known as the Marengo project, aims to generate an impressive annual output of 180,000 tonnes of renewable ammonia. The primary target … Read more
BASF and Zhejiang Guanghua Technology Co., Ltd. (KHUA) have signed a Letter of Intent (LoI) for the supply of Neopentyl Glycol (NPG) from BASF’s Zhanjiang Verbund site to KHUA. This agreement marks a significant milestone in the long-term partnership between both parties. KHUA, a reputed manufacturer of saturated polyester resins for the powder coatings industry … Read more
Gelest, Inc., a Mitsubishi Chemical Group company, recently commenced the construction of a new production facility at its global headquarters in Morrisville, PA. The groundbreaking ceremony marked a significant milestone for the company. The new facility will occupy a 50,000-square-foot building and is scheduled for completion by September 2024. To support the initial phase of … Read more
HPCL Rajasthan Refinery Limited (HRRL) received a substantial financial boost for its upcoming project in Barmer, Rajasthan, as the Rural Electrification Corporation Limited (REC) granted a loan of Rs 47.85 billion. In a press release, the company stated, “HPCL Rajasthan Refinery Limited (HRRL) executed a loan agreement on 4 July 2023 under a consortium arrangement … Read more
In June 2022, Borealis received a binding offer from AGROFERT, a.s. for the acquisition of its nitrogen business including fertilizer, melamine and technical nitrogen products. On July 5, 2023, the transaction, valuing the business on an enterprise value basis at EUR 810 million, has been completed. AGROFERT is a Czech-based group active in a number … Read more
INEOS, a leading global chemical company, has announced its plans to acquire several key businesses and infrastructure assets in a strategic deal with TotalEnergies. The acquisition will involve INEOS taking over TotalEnergies’ 50% share of Naphtachimie, Appryl, Gexaro, and 3TC, which are currently joint ventures between the two companies. These businesses, located at the Lavera … Read more
Syclus intends to build and operate a plant for the production of renewable ethylene from sustainable ethanol in Chemelot Industrial Park, Geleen, Netherlands. With an annual production capacity in the range of 100,000 tonnes, this renewable ethanol-to-ethylene production plant would be a first in Europe, paving the way for a more sustainable way of producing … Read more
OSLO, NO – WATERLOO, BE – BASF, and Yara Clean Ammonia are collaborating on a joint study to develop and construct a world-scale low-carbon blue ammonia production facility with carbon capture in the U.S. Gulf Coast region. The companies are looking into the feasibility of a plant with a total capacity of 1.2 to 1.4 … Read more
Maire Tecnimont S.p.A. announces that its Integrated E&C Solutions subsidiaries Tecnimont and Tecnimont Arabia Limited have been awarded two lump-sum turn-key EPC contracts related to a petrochemical expansion at the SATORP Refinery, in Jubail, Kingdom of Saudi Arabia. The petrochemical facility will enable the conversion of internally produced refinery off-gases and naphtha, as well as … Read more
Aramco and TotalEnergies awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, a future world-scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia. A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco President and CEO, and Patrick Pouyanné, TotalEnergies Chairman and CEO. … Read more
Honeywell International Inc. (Charlotte, N.C.) announced that SASA Polyester Sanayi A.Ş. will build the world’s largest Propane Dehydrogenation (PDH) unit in Yumurtalık, Türkiye using the latest generation of Honeywell Oleflex technology. The facility will have the capacity to produce 1 million tons of propylene per year. The Honeywell UOP Oleflex process is used to produce … Read more
India’s two leading state-owned oil and gas companies, Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC), have entered into a memorandum of understanding (MoU) to jointly explore downstream opportunities in the petrochemical sector. The collaboration aims to leverage the strengths of both companies, including their subsidiaries, through greenfield projects, acquisitions, and global … Read more