Petrochemicals
HP Construction: Europe
Lummus Technology, a CB&I company, has been awarded a contract by CJSC Vostochnaya Neftechimicheskaya (VNHK), a subsidiary of OJSC Rosneft, for the license and basic engineering of a naphtha steam-cra..
HP Construction: Middle East
The State of Qatar’s Minister of Energy and Industry, Dr. Mohammed bin Saleh Al-Sada, and Shell’s CEO, Peter Voser, have signed an agreement to develop a world-scale petrochemicals complex i..
HP Construction: Asia-Pacific
The Linde Group is set to build and operate a new hydrogen plant in the Jilin Chemical Industrial Park (JCIP) in northeast China. The company will be investing around €42 million in the first pha..
HP Impact: Bio-based polymers could be next big thing
Biofuels and bio-based chemicals have been promoted as a potential solution for dependence on petroleum. They also have favorable greenhouse gas emissions compared to fossil fuels and petrochemicals b..
Westlake Chemical raises bid for Georgia Gulf
Westlake Chemical has submitted a revised proposal to the board of Georgia Gulf to acquire all the outstanding shares of the company for $35.00/share in cash. The revised proposal represents a 17% increase to Westlake’s previous bid, the company said.
Yara, Apache take control of Burrup ammonia plant in Australia
Apache has acquired 49% interest in Burrup Holdings, owner of an ammonia fertilizer plant in the Burrup Peninsula region of Western Australia. Meanwhile, Yara paid $143 million to increase its ownership in the 850,000 tpy plant to 51% from 35%.
Georgia Gulf rejects revised takeover bid from Westlake Chemical
Georgia Gulf on Wednesday rejected the revised takeover bid from US-based Westlake Chemical, which bumped its offer to $35/share from an earlier $30/share. The company said the offer was far from compelling and did not represent an appropriate price to discuss the sale.
Eastman to buy US specialty chemicals firm Solutia in $4.7 billion deal
Eastman Chemical has agreed to acquire US-based specialty chemicals and performance materials firm Solutia, a global leader in performance materials and specialty chemicals, in a deal valued at about $4.7 billion (including debt). The deal is expected to close in mid-2012.
Samsung, Total plan $1.8 billon expansion on South Korea petrochemical venture
Construction at the Daesan complex will include a second aromatics1 unit and an ethylene-vinyl acetate (EVA) copolymer unit.
US business lobby likes Obama plan on China
A US business lobby group voiced support for President Barack Obama's proposal for export financing for US companies competing against Chinese rivals in third-country markets, seeking a more "level playing field" with Chinese companies.
- Azerbaijan's State Oil Company redirects supplies of jet fuel from STAR refinery to Turkish domestic market 5/8
- Hungry to sell, UAE slips hidden oil tankers through Strait of Hormuz 5/8
- Seven markets to track if peace breaks out in the Middle East 5/8
- Asia exports of refined fuels plunge amid Hormuz closure 5/8
- Libya's Zawiya oil refinery shut due to nearby clashes 5/8
- Meghna PVC partners with Jotun to manage corrosion maintenance 5/7
