Petrochemicals
Borouge achieved a 24% increase in net profit in 2024, reaching $1.24 B
Borouge achieved a 24% year-on-year increase in net profit to $1.24 billion, driven by record production and sales volumes.
Thailand to import more U.S. ethane to reduce trade surplus
Thailand will increase U.S. ethane imports by at least 1 MMt starting from the second quarter of this year to try to reduce its trade surplus with the United States.
Fire at Iran's Marun Petrochemical Refinery contained, says IRNA
A fire at the waste warehouse of the Marun Petrochemical Refinery in southwest Iran on Tuesday has been put out, IRNA news agency reported, adding that six people suffered minor injuries from the incident.
Samsung E&A awarded EPC contract for 1.8-MMtpy TA'ZIZ Methanol project in the UAE
Samsung E&A received a Letter of Award for the engineering, procurement and construction of the 1.8-MMtpy TA'ZIZ Methanol Project. The contract value is $1.7 B, with a contract duration of 44 months.
NH3 Clean Energy completes pre-FEED work for WAH2 clean ammonia project in Australia
NH3 Clean Energy announced that it completed the engineering component of its preliminary-front-end engineering and design for its WAH2 clean ammonia project in Australia.
Kurita America to merge with Avista Technologies
Kurita America, part of the Kurita Group, a leading global provider of water treatment solutions, has announced its pending merger with sister company, Avista Technologies, Inc. This merger will officially take effect on April 1, 2025.
NEXTCHEM (MAIRE) awarded process design package to upgrade urea plant in China
MAIRE has announced that NEXTCHEM, through its subsidiary Stamicarbon, the nitrogen fertilizer technology licensor, has been selected to provide the process design package to upgrade the Hulunbeier New Gold Chemical Co. Ltd.’s urea plant in Hulunbuir (China), leveraging on its proprietary NX STAMI Urea™ technology.
Syensqo and Ardent partner to accelerate point source carbon capture innovation
Syensqo and Ardent have formalized their strategic partnership, building upon more than two years of successful collaboration in advancing carbon capture and olefin-paraffin separation solutions. The partnership includes a licensing agreement and establishes Syensqo as a strategic supply chain partner to Ardent, marking a significant milestone in both companies' commitment to driving innovation in sustainable energy technologies.
IEA comes under pressure from former oil market chief to cut energy transition focus
The International Energy Agency's former oil industry and market chief criticized the agency's focus on the global energy transition in a report released on Wednesday, and said the IEA should concentrate on oil and gas supplies.
Emerson to acquire remaining outstanding shares of AspenTech
Emerson will acquire all outstanding shares of common stock of AspenTech not already owned by Emerson for $265/share pursuant to an all-cash tender offer. The transaction values the minority stake being acquired at $7.2 B, and values the total company at a fully diluted market capitalization of $17 B with an enterprise value of $16.8 B.
- KazMunayGas starts building polyethylene plant with Sinopec, SIBUR 4/1
- Blue Tide, Shell Lubricants complete re-refining facility to develop high-performance lubricants 4/1
- Lummus successfully starts up PFAS demo unit to destroy "forever chemicals" 4/1
- Solvay partners with Cavalinho to reduce emissions at Brazilian chemical plant 4/1
- Shell completes Singapore refinery sale to Chandra Asri-Glencore JV 4/1
- Japan's Maruzen Petrochemical to shut ethylene unit in Chiba 4/1
