Petrochemicals
Global petrochemical firms shape up in oversupply crisis
Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for three consecutive years, forcing firms to consolidate.
Aramco to buy stake in JV Petro Rabigh from Sumitomo Chem
Saudi Aramco will buy from Japan's Sumitomo Chemical a 22.5% stake in their petrochemical JV Petro Rabigh for $702 MM, as part of a turnaround plan for the loss-making venture. Under the deal, Aramco and Sumitomo Chemical will each provide $702 MM in funding to Petro Rabigh and waive loans worth a total $1.5 B.
BASF switches their portfolio to bio-based ethyl acrylate
BASF announced the biotransformation of their (Meth)acrylate portfolio, switching the production to bio-based ethyl acrylate starting Q4 2024.
Digital Feature: Minimizing the cost of corrosion: Budgeting for industrial asset preservation
Advanced budgeting for corrosion protection is critical to industrial facility management. Since the urgency of the matter is often not realized until a failure or accident occurs, the article provides several tips to help maintenance, purchasing or corporate teams start budgeting for preservation before an emergency happens.
Clariant’s EnviCat Green series catalyst chosen for major green ammonia project in China
The catalyst will be used to remove trace oxygen from green hydrogen produced at the facility, before conversion into green ammonia.
U.S. DOE awards $41 MM for renewables-to-liquids/chemicals projects
The U.S. Department of Energy announced $41 MM for 14 projects to develop technologies, renewables-to-liquids, for harnessing renewable energy to produce liquids for sustainable fuels or chemicals.
Mitsubishi Heavy Industries, Taiwan Fertilizer sign MoU to study a fuel ammonia value chain in Taiwan
Mitsubishi Heavy Industries, Ltd. has entered into a Memorandum of Understanding with Taiwan Fertilizer Co., Ltd. to conduct a joint pre-feasibility study that will explore the establishment of an ammonia value chain in Taiwan, in support of Taiwan's "2050 Net-Zero Emissions" goal.
Aggreko invests in European cooling fleet to support petrochemical industry amid summer heat
Energy solutions specialist Aggreko has significantly invested in its European fleet of cooling solutions to bring reliable, clean and efficient cooling to the market.
OCI Global to sell its clean ammonia project in Texas (U.S.) to Woodside Energy for $2.35 B
OCI Global has entered into a binding equity purchase agreement for the sale of 100% of its equity interests in OCI’s 1.1-MMtpy clean ammonia project under construction in Beaumont, Texas to Woodside Energy Group Ltd for $2.35 B.
Nippon Shokubai announces Indonesian subsidiary's plan to expand its superabsorbent polymer (SAP) plant
Nippon Shokubai Co., headquartered in Osaka, Japan, has announced that the company decided, at its board meeting held on July 30, 2024, to give approval to an investment plan at PT. NIPPON SHOKUBAI INDONESIA (NSI).
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
