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April 21, 2015
The global surplus of light naphtha could increase by as much as 14 million m.t./year over the next five years, according to a study released today, “The IHS Energy and IHS Chemical Light and Heavy Naphtha International Market Review.” Although demand for light naphtha will continue to expand, supply will grow faster, propelled by booming tight oil production in the United States, which will become the world’s largest exporter of light naphtha by 2020, says IHS....
April 21, 2015
ExxonMobil Chemical says it is considering whether to build a new polyethylene (PE) line at its Beaumont, TX, facility. The project would be additional to two 650,000-m.t./year PE lines now under construction at Mont Belvieu, TX. “We’ll conduct an extensive evaluation before making any final investment decision,” ExxonMobil says....
April 21, 2015
Air Products says that it has been awarded a contract by Saudi Aramco to build and operate the world’s largest industrial gas complex. The total investment necessary to build the facility is about $2.1 billion, Air Products says....
April 17, 2015
The US chemical industry is poised to capitalize on the increased supply of energy and feedstocks that will allow it to reestablish itself as a leading global supplier, ACC president and CEO Cal Dooley told attendees of ACC’s Responsible Care conference, held 13–16 April in Miami....
April 17, 2015
Braskem is reevaluating its planned Parkersburg, WV, cracker, a joint venture with Odebrecht, to address uncertainties generated by the steep decline in crude oil pricing. Assuming it proceeds, start-up would come after 2020, says Fernando Musa, CEO/America at Braskem....
April 17, 2015
Coatings makers PPG Industries and Sherwin-Williams (SW) report higher year-on-year (YOY) sales and earnings. PPG beat estimates on cost cutting efforts. Both companies experienced mixed volume growth, however, with some sectors and regions healthy and others sluggish....
April 15, 2015
Braskem is reevaluating its planned Parkersburg, WV cracker, a joint venture with Odebrecht, to address uncertainties generated by the steep decline in crude oil pricing. Assuming it proceeds, startup would come after 2020, says Fernando Musa, CEO of Braskem America. “This is something that we will continue to pursue, and look for the right timing and moment to invest,” he adds....
April 15, 2015
The US chemical industry is poised to capitalize on the increased supply of energy and feedstocks that will allow it to reestablish itself as a leading global supplier, ACC president...
April 15, 2015
The output of chemicals in the European Union rose by a paltry 0.2% in 2014, while sales fell 1.1% compared with the previous year because of lower prices, according to the latest...
April 10, 2015
New DuPont director and former LyondellBasell Industries CEO Jim Gallogly was approached by Trian Fund Management (New York) to join the activist hedge fund’s dissident slate for...
April 10, 2015
Total Petrochemicals & Refining USA (Houston) has filed environmental permit applications with the Texas Commission on Environmental Quality and the U.S. Army Corp. of Engineers to...
April 2, 2015
Siluria (San Francisco) has started up a plant at La Porte, TX, to demonstrate its process for the manufacture of ethylene by the oxidative coupling of methane (OCM). The development represents the world’s first large-scale production of ethylene directly from natural gas via OCM, says Siluria. The company intends to commercialize the process in 2017-18....
March 27, 2015
Demand for key basic chemicals has surged since the financial crisis of 2008-2009, but imbalances in supply and demand have emerged that will shape margins through the end of the decade, says Mark Eramo, v.p./global chemical insights at IHS Chemical. Ethylene and vinyls are set to benefit, but methanol could be challenged....
March 25, 2015
“Changing oil prices have not changed the fact that shale production technologies have unlocked an abundant long-term supply of natural gas in the region,” says Matt Aguiar, senior v.p. at ExxonMobil Chemical. “US gas production has grown by 45% over the past six years. The nation has a nearly 100-year natural gas supply, and it’s still growing.”...
March 20, 2015
DSM has agreed to sell a 65% stake in its polymer intermediates business—caprolactam and acrylonitrile—and composite resins to CVC Capital Partners (London). The enterprise...
March 20, 2015
A. Schulman has signed a definitive agreement to acquire Citadel Plastics Holdings (West Chicago, IL), a portfolio company of private equity firms HGGC (Palo Alto, CA) and Charlesbank Capital Partners (Boston), for $800 million....
March 13, 2015
Wacker Chemie has announced that it is examining options related to the ownership structure of Siltronic, the company’s wholly owned silicon wafers subsidiary that supplies the worldwide microchip industry. Wacker says it is looking at a number of options and that it has presented plans to the company’s supervisory board....
March 13, 2015
Shin-Etsu Chemical said on 12 March that it will expand silicone monomer production in Thailand and build a technical center for silicones application development in the United States...
March 13, 2015
US Senators David Vitter (R., LA) and Tom Udall (D., NM) on 10 March introduced the Frank R. Lautenberg Chemical Safety for the 21st Century Act, major bipartisan legislation aimed at updating the Toxic Substances Control Act (TSCA) of 1976....
March 13, 2015
DuPont and activist hedge fund Trian Fund Management (New York) early in March traded barbs over DuPont’s rejection of a universal proxy card for the company’s upcoming...
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