Asia/Pacific
Petronas, Evonik form venture to build Malaysian specialty chemical plants
The plants are expected to produce up to 250,000 tons of hydrogen peroxide, 220,000 tons of isononanol and 110,000 tons of 1-butene annually, according to a joint statement. The chemicals are used in the production of plastics, films, wallpapers, floorings and cables, among others.
Sinopec, BASF form venture to build world-scale isononanol plant in China
The full integration of the new INA plant into the existing petrochemical site of MPCC in Maoming will allow for a comprehensive system for managing energy as well as minimizing water use, emissions, and waste. The approval process has begun for the environmental impact assessment.
BASF, Petronas scrap Malaysia chemicals proposal
The proposed partnership was terminated because both parties couldn't agree on the "terms and conditions" for the project in the southern state of Johor, the companies said in a joint statement released Monday.
Osaka Gas believes US will soon approve Freeport LNG exports to Japan
Osaka Gas and Chubu Electric Power Co. recently signed a 20-year contract with Freeport LNG Development to import up to 2.2 million tpy each of LNG from Freeport's facility on the US Gulf Coast. The facility is slated to start operations in 2017. The Freeport contract will be effective once the US grants a license.
Praxair starts up new air separation plant in India
The new plant utilizes Praxair’s energy-efficient technology and has a production capacity of approximately 130 tpd of gaseous oxygen and 65 tpd of gaseous nitrogen. Praxair has supported Usha Martin’s Jamshedpur steel mill since 2000, where the company has operated two oxygen plants.
IEA raises forecast for global oil demand in 2013, citing strength in China
In China, which alone accounted for two-thirds of total oil demand growth in the four years to 2011, infrastructure spending, stronger electricity use and increased rail usage could underpin an increase in demand, the IEA said. In Europe, however, the picture still remains bleak.
Hyundai Cosmo opens new Korea paraxylene plant
With the plant's annual output of 800,000 metric tons of paraxylene and 120,000 tons of benzene, the two companies aim to grab a sizeable chunk of Asia's growing petrochemical market. Hyundai Cosmo Petrochemical (HCP) is a 50-50 venture between Japan’s Cosmo Oil and South Korea’s Hyundai Oilbank.
PTT aims to join Pertamina Indonesia refinery study
After Pertamina chooses its partner, the study will be conducted to determine production capacity, investment details, and a timeframe, said Pailin Chuchottaworn, chief executive of PTT. PTT sees investment opportunities in Indonesia's energy sector given its huge population and potential demand.
BP outlook shows North America shale oil boom putting pressure on OPEC
BP's forecasts illustrate the extent to which the North American boom, first in shale gas production and now in shale oil, has redrawn the global energy map. However, the company doesn't expect the shale revolution to spread by 2030 on any great scale to Asia or Europe.
Idemitsu, partners approve $9bn Vietnam refinery
The joint venture partners on Tuesday signed a preliminary agreement with an international consortium to build the $9 billion Nghi Son refinery after securing part of around $5 billion in bank loans and agreeing to final terms with the Vietnamese government, an Idemitsu official said.
- Malaysia plans to produce sustainable jet fuel in 2027 11/27
- ADNOC launches $80-B low-carbon energy and chemicals investment company 11/27
- Chevron sees California's fuel inventory law raising prices for customers 11/27
- Clariant’s MegaMax™ catalysts to power China’s first biomass-to-green methanol project 11/27
- easyJet, Renavia and WFS sign MoU for long-term supply of SAF 11/27
- Cyclyx to invest in second Cyclyx Circularity Center 11/27
