Petrochemicals
Axens to supply technology on China’s first plant for crude-to-paraxylene
The complex includes a final-conversion refinery oriented towards the production of naphtha and an aromatic complex to maximize high-purity paraxylene production.
Kuwait’s KPC to sell struggling assets to cut costs
Nizar al-Adsani, chief executive of KPC, was quoted as saying the company had started efforts to sell its Europoort refinery in the Netherlands and had decided to shut a fertilizer plant.
LyondellBasell contracts Fluor for FEED on new Texas chemicals unit
The propylene oxide and tertiary butyl alcohol plant will be the world’s largest of its type and will be located at LyondellBasell’s existing Channelview and Bayport Choate complexes in Texas.
Mitsubishi Rayon, Arzeda to collaborate on new chemical processes
This collaboration will leverage each company's unique technologies, with work occurring at Arzeda's laboratories in Seattle, as well as at laboratories of Mitsubishi Rayon in Japan.
China launches discipline investigation into top Sinochem executive
Cai, a 30-year oil industry veteran, was named to lead Sinochem in 2014, after a long career at China Petroleum and Chemical Corp. (Sinopec).
SOCAR awards work to Tecnimont for Azerbaijan polyethylene project
The project’s scope of work envisages the provision of complete engineering services, equipment and material supply, construction activities up to start up and guarantee test run.
LyondellBasell sells Argentine PP group Petroken
Petroken operates a 180,000-tpy plant in Ensenada and is a leading polypropylene (PP) producer in Argentina. The sale price is estimated at $184 million.
Topsoe wins work on new Iran methanol project, opens Tehran office
Topsoe signed a contract with Badr-e-Shargh Petrochemical Complex for licenses, engineering, proprietary equipment, materials and catalyst for their new plant in Chabahar, Iran.
Dow Chemical posts better-than-expected profit as lower costs lift margins
The cost-cuts helped Dow's operating margin increase by 406 basis points to 20.9% in the three months ended Dec. 31. Cost of sales fell 24% to $8.81 billion.
Dow unveils new job cuts, planned CEO retirement as DuPont merger nears
DuPont CEO Edward Breen is set to head the combined company after the merger, while Liveris will be the executive chairman after the deal closes in the second half of 2016.
- Brazil to phase out subsidy for diesel more slowly than for gasoline, minister says 7/3
- Chinese independent refiners snap up discounted Mideast oil as supplies rise 7/3
- India refiner Nayara's gasoline sold to Russia via traders 7/3
- India seeks to quell public backlash on ethanol-mixed fuel after 'experiment' remark 7/3
- Venezuela's largest refinery in service after power outage following earthquake 7/3
- U.S.-Iran war still trails the 1979 oil shock by total losses 7/3
