Petrochemicals
European petrochem industry missing out on shale gas benefits – Sabic CEO
Mohamed al-Mady, the Sabic CEO, said the US production boom has driven down gas prices, making electricity cheaper for the energy-intensive industry. The shale gas also often contains ethane, which can be converted into the ethylene that is used in many of the petrochemical industry's products, he said.
Qatar sets up new company to market domestic petrochemical products
The Qatar Chemical and Petrochemical Marketing and Distribution Co., or Muntajat, would have "exclusive rights to purchase, market, distribute and sell Qatar's production of chemical and petrochemical regulated products to the global market". The new entity is expected to start operations in Q1 2013.
Mitsubishi to build US resin processing plant next to new Dow Chemical cracker
The Japanese company plans to set up an acrylic resin-processing plant next to one of the world's largest ethylene plants the US company is set to build in Texas. The two companies aim to use the cheaper, new natural gas to mass-produce value-added chemical products.
Chemical executives cite fiscal cliff, economy as biggest concerns
The new KPMG poll finds 41% of US chemical business executives believe in the current macro-economic environment, the top concern is the ongoing fiscal cliff crisis.
PolyOne buys US composites company Glasforms
The purchase marks PolyOne's entry into advanced composite technology, an adjacency consistent with the company's strategy of providing specialty solutions that deliver customer value. With a purchase price of $34 million, PolyOne said it expects the deal to be accretive to earnings in 2013.
BASF taps Technip, Asahi Kasei for expansion work on German chlorine plant
The work will include a membrane chlorine plant expansion as well as the integration and implementation of existing equipment and facilities. Technip will be responsible for the complete EPC execution of the project, using Asahi Kasei Chemicals' technology and proprietary equipment.
PPG acquires US industrial coatings firm Spraylat
The acquisition furthers the capabilities of PPG’s industrial coatings business for both liquid and powder coatings. Spraylat coatings products are used in industrial markets such as automotive parts, architectural powder coatings, transportation,and general industrial niches.
Akzo Nobel sells North American paints unit to PPG
U.S. Deco, as the Akzo Nobel unit is known, was hit hard by the slump in the US construction and housing market, struggling to compete with bigger US rivals, such as PPG and Cleveland-based Sherwin-Williams. Akzo Nobel originally acquired the business as part of its 2008 acquisition of UK chemicals group ICI.
KBR licenses ammonia technology to Indorama for grassroots Nigeria project
KBR will license its ammonia technology to Indorama to operate a 2,300 tpd ammonia plant. Indorama’s selection of KBR's technology was based on several factors, including the highest demonstrated plant run lengths and the lowest energy consumption, according to project officials.
US shale gas to sustain chemical industry despite slow manufacturing – ACC
Though rising uncertainty over the fiscal cliff, debt ceiling and tax reform have hindered business confidence, the most important domestic energy development in the last 50 years is poised to reshape American manufacturing, with access to vast shale supplies creating a competitive advantage.
- OXEA confirms final investment decision for major capacity expansion at plant 7/10
- TotalEnergies ships to Asia the first cargo produced by the ECA LNG plant 7/10
- ADNOC L&S expands LNG fleet with order for four new carriers 7/10
- India's ONGC plans to build 13-MMbbl national strategic oil reserve 7/10
- Russian refineries, oil terminal, tankers hit, Ukraine says 7/10
- Tajikistan says it has 60 days' fuel in reserve amid Russian supply crunch 7/10
