Asia/Pacific
Sinopec sees unprofitable downstream operations amid rising oil prices
Sinopec said its refining operations posted losses in January and February and that it expects the downstream operations to remain unprofitable if oil prices keep going up. Chairman Fu Chengyu told reporters the firm would accelerate the development of its natural gas business.
Formosa, Kraton venture eyes styrene copolymer plant in Taiwan
Kraton Performance Polymers is forming a 50-50 joint venture with Formosa Petrochemical to build and operate a 30,000 tpy hydrogenated styrenic block copolymer (HSBC) plant in Mailiao, Taiwan. Plant operation is expected in the first half of 2014, according to project officials.
Celanese wins government approval for industrial ethanol plant in China
Celanese says it has received key government approvals necessary to proceed with plans to modify its existing integrated acetyl facility at the Nanjing Chemical Industrial Park to produce ethanol for industrial uses. The unit, expected to increase profits, is expected to start up in mid-2013.
India in talks to smoothen Iran crude oil supplies
India has shown no signs of giving in to US pressure to reduce its business dealings with Iran, with the government and a top trade body moving in quite the opposite direction. New Delhi is in talks with Iran to ensure uninterrupted crude oil supplies, as well as to smoothen settlement of payments.
Global refining catalyst market driven by growth in hydroprocessing
The market improvement is led by demand for cleaner fuels, increasing use of heavier and dirtier feedstocks and additions to refining capacity, a new study says.
Dow opens electronic materials R&D hub in Korea
Dow Chemical has inaugurated its Dow Seoul Technology Center, a global research and development (R&D) center with focus on technological advances in display technologies and semiconductor-related applications. Dow has invested more than $400 million in Korea over the last decade.
Refining deals up sharply in 2011 amid shedding of global assets
Refiners realigned their corporate strategies in 2011, with many shedding refining assets and others choosing to exit the sector altogether, according to a new report.
Shell, CNPC to collaborate on shale gas in China
Shell has signed the first-ever production-sharing contract to explore, develop and produce shale gas in China, a move that fits in with China's overall strategy to bring technical and operational know-how to the development of its untapped reserves of the unconventional fuel.
Air Products signs R&D pact with China university for 'green' water treatment
Air Products signed a joint R&D agreement with South China University of Technology (SCUT) on water purification technology to accelerate the development of sustainable and efficient water treatment solutions. Air Products also has established a scholarship program at SCUT, it said.
US to exempt EU, Japan on Iran oil sanctions
The US has decided to grant exemptions to Japan and 10 European Union (EU) countries under a new set of Iran oil sanctions, a key lawmaker said. Aimed at shutting down Iran's nuclear program, the sanctions target financial institutions that do business with Iran's Central Bank, a main conduit for Iran's oil sales.
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
