Petrochemicals
ACC: US chemical production ended 2016 on a soft note
WASHINGTON – According to the American Chemistry Council (ACC), the US Chemical Production Regional Index (US CPRI) fell back 0.2% in December, following a 0.2% gain in November and a 0.1% decline in October, as measured on a three-month moving average (3MMA) basis. In December, chemical production was lower across all regions.
Malaysia's Petronas says RAPID project on track for 2019 start-up
KUALA LUMPUR (Reuters) -- Malaysia's state oil firm Petroliam Nasional Berhad said on Thursday its new $27 billion refining and petrochemical complex project in the southeast Asian country is on track for start-up in 2019.
Eni, SONATRACH sign agreement to study feasibility of petchem complex in Algeria
San Donato Milanese -- Versalis (Eni) and SONATRACH signed today in Algiers a Memorandum of Understanding to carry out joint feasibility studies for an integrated petrochemical complex to be built in Algeria.
Saudi Aramco shelves $27-B refining, petrochemical project JV with Petronas
KUWAIT (Reuters) -- Saudi Aramco has shelved plans for a partnership with Malaysian state-oil firm Petroliam Nasional Berhad in a $27 billion refining and petrochemical project in the southeast Asian country, industry sources familiar with the matter told Reuters on Wednesday.
ACC: US specialty chemicals markets end fourth quarter on good note
WASHINGTON – The American Chemistry Council (ACC) reported that US specialty chemicals market volumes rose 0.3% in December. This follows an upwardly revised 0.5% gain in November. Volumes have generally been moving up since May.
Naphtha surges as cold Asia weather pulls LPG to heating
SINGAPORE (Reuters) -- Asia's naphtha demand has surged since late 2016 as petrochemical makers are turning to the product after supplies of cheaper alternative LPG were consumed by heating demand amid cold regional weather.
Shell to sell stake in Sadaf Chemicals JV in Saudi Arabia to SABIC
Shell and SABIC have signed an agreement whereby SABIC will acquire Shell’s 50% share in the petrochemicals SADAF JV, located in Jubail, Kingdom of Saudi Arabia for $820 million. The SADAF joint venture encompasses six world-scale petrochemical plants with a total output of more than 4 million metric tons per year. This announcement marks an early termination of the joint venture agreement which was due to expire in 2020.
Pennsylvania town approves construction of Shell petrochem facility
(Reuters) -- The town council of Potter, Pennsylvania unanimously approved a conditional use permit late Wednesday allowing a unit of Royal Dutch Shell PLC to move forward with construction of a multibillion-dollar petrochemical complex near Pittsburgh.
Saudi petchem giant SABIC's profit jumps as industry recovers
RIYADH (Reuters) -- Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, gave further evidence of a recovery in the sector on Thursday with its first profit rise in ten quarters.
Lotte Chem looking into acquiring Singapore's Jurong Aromatics
SEOUL (Reuters) -- Lotte Chemical Corp is looking into acquiring troubled Singapore petrochemical company Jurong Aromatics Corp, as the South Korean company continues to push for growth.
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- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
