Petrochemicals
ExxonMobil to permanently shut one steam cracker in Singapore from March
The imminent shutdown of the U.S. major's first cracker in the Asian oil trading hub comes as chemical producers grapple with losses from overcapacity led by China, the world's largest consumer of petrochemicals used to make products ranging from plastics and clothes to shoes and cars.
Insight: How sanctions made a showpiece Chinese refinery's Western partners run for the exits
Yulong's ambition to rub shoulders with global heavyweights, backed by Beijing's push to modernize its refiners, was upended on October 15, when the UK sanctioned it for dealing in Russian oil.
South Korea's Lotte Chemical, HD Hyundai to merge naphtha operations under petrochem plan
Lotte will merge its 1.1-MM tonne (t) naphtha cracking facilities and jointly operate HD Hyundai's plant with an output of 850,000 t under a plan to set up a joint venture.
Tecnimont attends ground-breaking ceremony of Tengiz Gas separation Complex in Kazakhstan
The facility is designed to recover at least 98% of ethane from dry gas, and its output will feed the second phase of the Silleno petrochemical complex, focused on polyethylene production—another major project being executed by Tecnimont.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
- U.S. liquid fuels groups announce progress on E15, small refinery exemption reform 12/5
- Million Air and Avfuel bring SAF to Austin, Texas (U.S.) 12/5
- Chinese refiners buy oil from storage, raise output with fresh import quota 12/5
