Saudi-based Methanol Chemicals Co., known as Chemanol, has unveiled its strategic plan to diversify its product portfolio by acquiring controlling stakes in two chemical firms. In a recent disclosure to the Saudi Stock Exchange (Tadawul), Chemanol announced the signing of a binding offer to acquire 80 percent of Global Co. for Chemical Industries Ltd. Additionally, … Read more
Yara and Cepsa have agreed on a strategic partnership to set up the first clean hydrogen maritime corridor between the ports of Algeciras and Rotterdam for the decarbonization of European industry and maritime transport. The partnership envisages Yara Clean Ammonia (YCA) supplying Cepsa with clean ammonia volumes, which will allow the energy company to get … Read more
PETRONAS Chemicals Group Berhad (PCG) has reached the final investment decision (FID) to fully acquire the 113 kilo-tonnes per annum (ktpa) Maleic Anhydride (MAn) plant located in Gebeng, Kuantan from BASF PETRONAS Chemicals Sdn. Bhd. (BPC). The plant will broaden PCG’s product portfolio and its derivatives to further strengthen PCG’s derivatives product offerings. The FID … Read more
In a recent development in the Brazilian chemical industry, Unipar Carbocloro, a major player in the chlor-alkali and PVC manufacturing sector, has put forward a non-binding proposal to acquire control of Braskem, the leading producer of polyolefins in Brazil. This move holds significant implications for both companies, as well as for the overall market dynamics … Read more
Sumitomo has completed the acquisition of Saconix LLC. from a U.S. private equity fund to make Saconix a wholly-owned subsidiary of the Sumitomo Corporation Group. Saconix is engaged in the distribution and transportation service of sulfuric acid in the US West and Gulf. Sulfuric acid is one of the world’s most used chemicals in a … Read more
Johnson Matthey, a global leader in sustainable technologies, is set to supply Fujian Zhongjing Petrochemical Group with the latest butanediol (BDO) technology. This technology is essential for the production of bio-degradable plastics (PBAT), as China intensifies its efforts to eliminate single-use plastics and combat pollution. The construction of three BDO plants will take place in … Read more
Oil Natural Gas Commission (ONGC) will become Net-Zero by 2038 and invest Rs 1 trillion ($12.1 billion) by 2030 on energy transition projects to reduce carbon emissions, Arun Kumar Singh, Chairman & CEO, ONGC announced during an interaction with the journalists in Mumbai on 29 May 2023. By doing so, the Energy Maharatna will prepare … Read more
Shell has recently come under scrutiny for breaching emissions limits at its Monaca polyethylene complex in Beaver County, Pennsylvania. The violations have raised concerns among residents and environmentalists due to the potential health risks associated with increased air pollution. Shell has acknowledged exceeding the total emission limitations for air contaminants at its Pennsylvania plant, primarily … Read more
China Petroleum & Chemical Corporation has signed a key terms agreement with KazMunayGaz, the national operator of the oil and gas industry of Kazakhstan, for developing a polyethylene project in the Atyrau Region on May 18 in Xi’an, China. The agreement, signed during Kazakh President Kassym-Jomart Tokayev’s visit to China, marks that Sinopec will participate … Read more
Dow, a global chemical company, has entered into a significant long-term supply agreement with New Energy Blue in North America. The partnership aims to produce bio-based ethylene from renewable agricultural residues, specifically corn stover (stalks and leaves). This collaboration marks Dow’s commitment to reducing carbon emissions in plastic production and utilizing sustainable feedstocks for recyclable … Read more
Thyssenkrupp nucera AG & Co. KGaA is partnering with OxyChem to install the latest generation eBiTAC v7 electrolyzers to support the conversion of its Battleground plant in LaPorte, Texas, from the diaphragm to membrane chlor-alkali technology. “The fact that OxyChem has contracted us for the important retrofit of its large chloralkali plant makes us very … Read more
McDermott, a global leader in engineering and construction services, has been awarded a significant project management consultancy (PMC) contract by India Oil Corporation Limited (IOCL). The contract entails the development of the Maleic Anhydride (MAH) unit at the Panipat Refinery and Petrochemical Complex, situated approximately 62 miles (100 kilometers) from New Delhi, India. Scope of … Read more
GHCL Ltd, one of the largest soda ash and industrial salt manufacturers in India, is planning to invest Rs. 65 billion to establish a one-million-tonne soda ash plant in Kutch, Gujarat, over a period of six years. With this investment, the company aims to nearly double its production capacity, targeting a 30% market share in … Read more
TANFAC Industries Limited has obtained the necessary approval from the Tamil Nadu Pollution Control Board to proceed with the proposed expansion of their Hydrofluoric Acid Plant in Cuddalore. The expansion will increase the plant’s capacity by 14,850 MT, with an estimated project cost of Rs 1 billion. This will help the Company to complete the … Read more
Petrofac, a leading international service provider to the oil and gas industry, has been granted a conditional award by STEP Polymers SPA, a wholly-owned subsidiary of Sonatrach, to undertake a significant petrochemical project in Algeria. The project, valued at approximately $1.5 billion, will contribute to the Arzew Industrial Zone’s development, located west of Algiers. This … Read more
Bharat Petroleum Corporation (BPCL) has recently obtained approval from its board of directors for a significant undertaking known as the Ethylene Cracker Project. Ethylene Cracker Project at Bina Refinery This ambitious project encompasses the establishment of downstream petrochemical plants and the expansion of the Bina Refinery in Madhya Pradesh State. With a projected capital expenditure … Read more
Royal Vopak, a leading global provider of storage and handling solutions for liquid chemicals, gases, and oil products, has announced a binding agreement to sell its terminal in Savannah, USA to BWC Terminals, a US-based bulk liquids storage company. This divestment aligns with Vopak’s strategic goals to enhance its financial performance, expand its presence in … Read more
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced Alujain National Industrial Co. has selected its C3 CATOFIN® propane dehydrogenation (PDH) technology for their new propylene plant in Yanbu, Kingdom of Saudi Arabia (KSA). This is the first time Alujain will license Lummus’ PDH technology at its Yanbu complex. “We are … Read more
Braskem, the Brazilian petrochemical company, has received a joint non-binding offer from Apollo Global Management and Abu Dhabi National Oil Company (ADNOC). However, the terms of the offer have divided opinion in the market, with creditor banks not unanimous on the figures, and doubts remain as to whether Petrobras will agree to sell its stake … Read more
UPL Ltd., a leading agrochemical company, has recently reported its financial results for Q4 FY23 and the full fiscal year. The company’s PAT (Profit After Tax) for the quarter was INR 7.92 billion, a significant decline of 43% compared to the corresponding period last year when it was INR 13.79 billion. However, the company’s revenue … Read more