Petrochemicals
Eastman to buy US specialty chemicals firm Solutia in $4.7 billion deal
Eastman Chemical has agreed to acquire US-based specialty chemicals and performance materials firm Solutia, a global leader in performance materials and specialty chemicals, in a deal valued at about $4.7 billion (including debt). The deal is expected to close in mid-2012.
Samsung, Total plan $1.8 billon expansion on South Korea petrochemical venture
Construction at the Daesan complex will include a second aromatics1 unit and an ethylene-vinyl acetate (EVA) copolymer unit.
US business lobby likes Obama plan on China
A US business lobby group voiced support for President Barack Obama's proposal for export financing for US companies competing against Chinese rivals in third-country markets, seeking a more "level playing field" with Chinese companies.
NPRA finalizes name change, becomes American Fuel & Petrochemical Manufacturers
The long-standing US refining and petrochemical trade group National Petrochemical & Refiners Association (NPRA) on Wednesday officially changed its name to the American Fuel & Petrochemical Manufacturers (AFPM). The name change is the fourth in its history.
Albemarle expands US polyolefin catalysts capacity
Albemarle says it successfully completed the latest expansion of its process development center (PDC) in Baton Rouge, Louisiana, by installing a new production train for finished polyolefin catalysts and a number of supporting auxiliaries. The company did not disclose specific capacity figures on the expansion.
Toyo lands engineering, construction deal on China caprolactam venture
Toyo Engineering Corp. has been awarded a contract for a caprolactam plant for DSM Nanjing Chemical (DNCC), a joint venture company between Royal DSM and Sinopec. After the completion of the new project, DNCC will become the largest caprolactam producer in the world with 400,000 tpy of capacity.
Global oil, gas leaders see higher 2012 spending as industry confidence rises - poll
Oil and gas industry leaders have forecast improved performance and higher levels of capital expenditure in 2012 despite concerns over global economic instability, according to a new report on the future of the sector. North America is emerging as the area with the greatest opportunities in 2012, the poll shows.
Keyera acquires Canadian iso-octane plant from Neste Oil, ChevronTexaco
Competition authorities in the US and Canada have approved the sale of Neste Oil's 50% holding in an iso-octane production plant in Edmonton, Canada, to Canadian-based Keyera. The announcement was first made on December 8, 2011.
Novamont, Genomatica sign Europe JV for bio-BDO
Novamont and Genomatica have signed a definitive agreement establishing a joint venture (JV) for the first industrial plant in Europe producing butanediol (BDO) directly from renewable feedstocks. Initial production is expected in 2013. Novamont will have a majority of the equity in the JV, and Genomatica a minority interest.
Albemarle launches electronic materials business
US specialty chemicals producer Albemarle has officially announced the formation of its Electronic Materials business unit. The business has already begun selling commercial quantities of ultra high purity trimethyl gallium (TMG) and triethylgallium (TEG) under its new PureGrowth brand name.
- BASF supports European 1,4‑butanediol supply security through increased production in Ludwigshafen 2/16
- Vitol backs proposed $3-billion LNG power plant for South Africa's Durban port 2/16
- HAMR Energy receives additional funding for low-carbon liquid fuels projects 2/16
- NASCAR names POET official bioethanol partner: Becomes first major motorsports series to utilize zero-carbon bioethanol 2/16
- ExxonMobil starts third advanced plastics recycling unit at Baytown complex 2/16
- Geoinform, subsidiary of the MOL Group, signs strategic cooperation agreement with Baker Hughes 2/16
