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January 16, 2014
Saudi Aramco will spend $2 billion to acquire Hanjin Energy’s stake in S-Oil (Seoul), Korea’s third-largest oil refiner and a major producer of para -xylene ( p -xylene), according to Saudi Gazette. Earlier this month, Maeil Business reported that Aramco would buy Hanjin’s entire stake, citing S-Oil CEO Nasser Al Mahasher. Aramco already owns 35% in S-Oil, and the acquisition of Hanjin’s stake would raise its shareholding to 63.4%....
January 10, 2014
ExxonMobil Chemical says its recently started ethylene plant in Singapore can crack crude oil as feedstock, eliminating the refining steps needed to produce naphtha. ExxonMobil officially opened its expanded Singapore chemical complex on 8 January....
January 9, 2014
Production of chemicals in the European Union increased by 1.8% in October 2013, compared with a year ago, according to the latest Cefic chemicals trends report. Cefic says that the...
January 8, 2014
AkzoNobel says that its full-year 2013 operating income before incidental items is unlikely to exceed the €908 million ($1.2 billion) reported in 2012. This has been AkzoNobel's...
December 19, 2013
Solvay has announced an agreement to sell its 70.59% stake in Solvay Indupa (Buenos Aires) to Braskem for $290 million. The deal, subject to antitrust approval, will give Braskem a...
December 19, 2013
According to a new forecast from the US Energy Information Administration (EIA; Washington), domestic production of both crude oil and natural gas will continue to grow, with oil...
December 12, 2013
German chemical trade association VCI (Frankfurt) says it is “cautiously optimistic” about 2014 prospects, forecasting a 2% chemical production increase in the coming year...
December 12, 2013
US chemical makers are firmly “back in the game” thanks to the cost advantage enabled by low-cost shale feedstocks, according to ACC’s year-end review and outlook. US chemical production was up 1.6% in 2013 and is expected to rise 2.5% in 2014 and 3.5% in 2015, says Kevin Swift, ACC chief economist and managing director....
December 12, 2013
German chemical trade association VCI (Frankfurt) says it is "cautiously optimistic" for the start of 2014, and expects an increase in chemical production of 2% in the coming...
December 5, 2013
Dow Chemical is carving out a $5-billion/year chunk of its chlorine value chain for disposal as part of the company’s long-term shift to higher-margin, noncyclical activities, the company announced on 2 December....
December 5, 2013
Rockwood Holdings has entered into a joint venture with Chengdu Tianqi Industry Group (Tianqi; Chengdu), China’s leading lithium company, giving Tianqi a 51% stake and Rockwood a...
November 29, 2013
German trade union IG BCE (Hanover), representing workers in the chemical, mining, and energy sectors, has called for a pay rise of 5.5% ahead of the forthcoming round of pay...
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