Petrochemicals
Formosa shuts top Taiwan naphtha cracker amid weak downstream margins
Taiwan's Formosa Petrochemical, Asia's top naphtha buyer, has shut the biggest of its three naphtha crackers in Mailiao due to low petrochemical margins, a company spokesman said on Thursday.
WR Grace buys Noblestar catalysts unit in China
W. R. Grace & Co. has signed an agreement to acquire the assets of Noblestar Catalysts, a China-based manufacturer of fluid catalytic cracking (FCC) catalysts. The deal has been approved by the boards of directors of both companies, but is subject to the satisfaction of other closing conditions.
Momentive hikes global urethane additives capacity
Momentive Performance Materials said it recently completed a series of capacity expansions on urethane additives in China, India, Brazil and Belgium. In China, the company said it completed an expansion that enables increased urethane additive finished goods capacity at its Nantong plant facility.
T. Boone Pickens finds flaws in US energy plans of Obama, Romney
The energy titan didn't endorse either presidential candidate, saying Obama's "all of the above" energy plan needed to be more specific and Romney's plan is "not total".
US plastic resin production, sales down from 2011
US production of major plastic resins totaled 6.1 billion pounds during April 2012, a decrease of 3.2% compared to the same month in 2011, according to new statistics released by the American Chemistry Council (ACC) trade group. Sales and captive use were down 8.8% from April 2011.
Jacobs to study Saudi Ma'aden phosphate project
Jacobs was awarded a contract by Saudi Arabian Mining Company to provide a bankable feasibility study and front-end engineering design (FEED) for its Umm Wu'al phosphate project in the Sirhan-Turaif region of Saudi Arabia. The project will add 1.5 million tpy to Ma'aden's planned phosphate capacity.
Eastman Chemical wins EU approval for Solutia buy
The European Commission has cleared the proposed acquisition of Solutia by Eastman Chemical, the competition watchdog group said. The merger is not expected to result in any substantial change in the markets concerned since Solutia is not a customer of Eastman in the EEA.
Aramco, Sumitomo approve second phase of Saudi petrochemicals expansion
Sumitomo Chemical and Saudi Aramco are moving ahead with phase two of their Petro Rabigh integrated refinery and petrochemicals expansion in Rabigh, Saudi Arabia. Each new plant will be brought on stream as it becomes available for operation, beginning the first half of 2016, the companies said.
Dow wins $2bn in damages from failed Kuwait JV
The International Court of Arbitration awarded damages to Dow of $2.16 billion, not including interest and costs. Kuwait ruled in December 2008, at the peak of the global recession, that the Petrochemical Industries Company of Kuwait (PIC) should withdraw from the planned olefins and polyethylene venture.
US chemical production continues monthly decline
The US Chemical Production Regional Index (CPRI) slipped by 0.3% in April following a downwardly-revised 0.4% decline in March. Output slipped in several key segments including pharmaceuticals, organic chemicals, plastic resins and synthetic rubber. Production fell across all US regions
- BASF’s Intermediates division produces entire portfolio of acid chlorides and chloroformates at its Ludwigshafen site using renewable electricity credits 3/23
- LG Chem shuts down 800,000-tpy Yeosu naphtha cracker 3/23
- French Energy Ministry considers increasing oil refining capacity 3/23
- Schneider Electric global study shows energy industry ramping up investment in autonomous operations by 2030 as AI reshapes performance 3/23
- Middle East shock gives Dangote refinery leverage as cheap imports dry up 3/23
- HWI officially opens state-of-the-art Fulton (U.S.) lightweight monolithics facility 3/23
