Petrochemicals
Lukoil to restart Stavrolen ethylene unit by April
Russian oil producer OAO Lukoil Holdings will resume production at the ethylene unit of its Stavrolen plant by April 1, following a fire at the petrochemical plant earlier this month. The damage is estimated at $25 million, Lukoil said.
US energy R&D spending forecast up 23% for 2012
Energy-related research and development (R&D) sponsored by US manufacturers and technology firms will reach nearly $6.7 billion in 2012, up 23.1% from 2011, according to a forecast from research group Battelle. Overall, global spending by energy-related companies is expected to grow by 7.8% to reach $17.9 billion.
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.
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.
US coal industry sees limited 2012 upside - report
Softer export markets and natural gas displacement will outweigh benefits of lower stocks and consolidation for US coal producers in 2012, according to a new report. Domestic steam coal demand is in slow decline, and Fitch Ratings says it expects supply to remain disciplined.
Westlake boosts planned capacity by 40% for Louisiana chlor-alkali project
Westlake Chemical is increasing the capacity of the previously-announced chlor-alkali plant to be located at its vinyls manufacturing complex in Geismar, Louisiana. Site work is currently underway for this new facility and the project is targeted for start-up in the second half of 2013.
Total buys ExxonMobil stake in Antwerp olefins unit
Total affiliate PetroFina S.A. on Wednesday signed an agreement with ExxonMobil under which ExxonMobil is to transfer to Total its 35% shareholder interest in Fina Antwerp Olefins. This plant is the second largest in Europe for the production of base chemicals products, including ethylene, propylene and benzene.
Dow, Aksa form carbon fiber venture in Turkey
Dow Chemical and Turkey-based Aksa on Tuesday formed a joint venture to manufacture and commercialize carbon fiber and derivatives. Total investment in the project, including third-party investments, is expected to reach $1 billion in five years and create up to 1,000 employment opportunities, the companies said.
North America energy infrastructure outlook holds stable for 2012 - report
The stable outlook is supported by largely contracted revenue streams mitigating price and volume risk, including continuing strong support for renewable power projects through renewable portfolio standards.
- 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
