Asia/Pacific
Indian Oil to cut jet fuel prices amid weaker crude
Indian Oil Corp. on Saturday said it will trim jet fuel prices by 1.0% beginning January 1 due to a softening in international benchmark rates. State-run fuel retailers revise jet fuel prices every fortnight in line with international crude oil prices.
Tata Power to buy BP stake in India solar venture
Tata Power signed an agreement to buy partner BP Alternative Energy Holdings' 51% stake in their solar energy venture in India. Under the agreement, Tata BP Solar will have access to certain technologies of BP until 2013, Tata Power said in a regulatory filing.
ExxonMobil to consolidate businesses of fuels marketing, lubricants
The ExxonMobil board of directors will approve the consolidation of ExxonMobil Fuels Marketing Co. and ExxonMobil Lubricants & Petroleum Specialties Co. into ExxonMobil Fuels, Lubricants & Specialties Marketing Co., effective February 1, 2012.
BP shutting solar unit as industry struggles
BP will exit the solar panel business in a move that will affect about 100 employees, according to reports. BP said the solar business, which has been flooded by excess supply from China, has become commoditized.
Valspar opens coatings R&D facility in China
Paints and coatings major Valspar Corp. announced the opening of its new research and development (R&D) center in Shunde, China. Nearly half of the company's sales in the Asia-Pacific region are in China, where Valspar currently has five manufacturing facilities.
HB Fuller to acquire global industrial adhesives business from Forbo
HB Fuller Co has signed an agreement to purchase the global industrial adhesives business of Forbo Group. Forbo is known for the breadth of its product line in all of HB Fuller’s core market segments, particularly packaging and durable assembly, according to Fuller officials.
India refinery runs increase 9.2% in November
India's refinery runs in November rose a sharp 9.2% from October as Essar Oil resumed normal operations at a 14 million ton refinery after a 35-day shutdown. The refinery runs topped the government's target of 13.71 million tons, or 3.35 million bpd.
Fortune Oil, BP to expand China aviation fuels unit
Fortune Oil said Monday it and its partners in an aviation fuel supply business had agreed to double the number of airports they serve in central and southern China to 30 over the next five years.
Coca-Cola plans to have 100% plant-based bottle
Coca-Cola expects to have a plastic bottle made entirely from plant-based materials ready for commercial use in the next few years as it looks to reduce its reliance on petroleum used in traditional plastic bottles. Coca-Cola believes it can have the plant-based bottle developed by 2015 so that, by 2020, all of its plastic bottles can be using the new material.
Momentive, UPC form China phenolic resin venture
Momentive Specialty Chemicals and UPC Technology Corp. have now signed a definitive joint venture agreement creating Momentive Union Specialty Chemicals, a venture that will build manufacturing capacity in China to produce specialty phenolic resins.
- USA BioEnergy secures Johnson Matthey and Honeywell technologies for new SAF facility in Texas (U.S.) 9/10
- BASF launches the world’s first thermoplastic polyamide with high water permeability 9/9
- Worley awarded FEED contract for renewable diesel and aviation fuel project in Sweden 9/9
- U.S. tariffs worsen petrochemical sector challenges, executives warn 9/9
- Clariant to supply catalyst to SYPOX for world’s largest electric steam methane reformer 9/9
- Mitsubishi Chemical to adopt a "product traceability platform" to build a reliable chemical recycling supply chain 9/9
