IHS Chemical Week

Iran outlines huge investment opportunities at K 2016

October 20, 2016 | Natasha Alperowicz in Düsseldorf

The K plastics and rubber show currently under way in Dusseldorf, saw the return of Iranian companies in a major way. A large delegation from Iran, headed by deputy oil minister and head of National Petrochemical Co. (NPC; Tehran), Marziyeh Shahdaei, held a three-hour seminar today....

Exclusive: Feedstock diversification a major pillar in SABIC's 2025 growth strategy

October 19, 2016 | Natasha Alperowicz in Düsseldorf

The dwindling availability of advantaged ethane gas in Saudi Arabia has prompted SABIC, the largest petrochemicals producer in the Middle East, to diversify its feedstock sources....

SABIC reports lower sales and earnings

October 19, 2016 | Natasha Alperowicz

SABIC on Wednesday reported third-quarter net profit decreased 7%, to 5.2 billion Saudi riyals ($1.4 billion), on 11% lower revenues, SR37.4 billion. Net profit in the first nine months of this year was down 15%, to SR13.4 billion, while sales in the dropped...

Tasnee swings to profit, reports higher sales

October 18, 2016 | Natasha Alperowicz

Tasnee (Riyadh, Saudi Arabia) on Tuesday reported a return to profits and higher revenues....

Kuwait's TKSC declares force majeure on styrene

October 14, 2016 | Caroline Fitzgerald

The Kuwait Styrene Co. (TKSC), Kuwait’s only styrene producer, has idled its ethylbenzene-styrene complex at Shuaiba, Kuwait. IHS Chemical understands that TKSC's 520,000-metric tons/year styrene plant had encountered technical difficulties and, as a...

YanSab's profits double, Saudi Kayan swings to profit

October 14, 2016 | Natasha Alperowicz

Yanbu National Petrochemical Co. (YanSab) and Saudi Kayan, both affiliates of SABIC, have announced much improved third-quarter results. YanSab reported a more than doubling in net profit to 607.6 million Saudi riyals ($162 million). This compares with a net...

Axalta opens office in Dubai; to build refinish training center

October 13, 2016 | Deepti Ramesh

Axalta Coating Systems, a supplier of liquid and powder coatings, says that it has opened a regional office in the Jebel Ali Free Zone Authority (JAFZA) at Dubai, United Arab Emirates (UAE). With this investment, Axalta aims to expand its regional sales and...

Sipchem CEO: Higher oil price, consolidation needed to stabilize Middle East petchem industry

October 13, 2016 | Sok Peng Chua

Crude oil prices need to hit $60-70/bbl so that petrochemical producers in the Middle East can have some “breathing room,” says Saudi International Petrochemical Co. (Sipchem) CEO Ahmad al-Ohali. He also advocates industry consolidation to reduce...

Aramco IPO likely in 2018, fossil fuels will continue to dominate energy mix

October 11, 2016 | Natasha Alperowicz

Saudi Aramco expects its previously announced IPO to take place in 2018 since it expects oil prices and market conditions to improve in the next two years, CEO Amin Nasser said Tuesday....

Kuwait approves new KPC subsidiary to run Al-Zour refining, petchem project

October 11, 2016 | Sok Peng Chua

Kuwait’s ministry of commerce and industry has approved a request from Kuwait Petroleum Corp. (KPC) to establish a subsidiary to run the company's refining and petrochemical projects. The subsidiary, Kuwait Integrated Petrochemical Industries Co...

Shell signs letter of intent to study petchem projects in Iran

October 10, 2016 | Natasha Alperowicz

In a move that could signal Shell's return to the petrochemical scene in Iran, the company signed a letter of intent on 9 October with National Petrochemical Co. covering cooperation in the energy sector, including petrochemicals....

Saudi Aramco's IPO to encompass upstream and downstream operations

October 7, 2016 | Sok Peng Chua

State-owned Saudi Aramco’s (Riyadh, Saudi Arabia) previously announced IPO will include the company's entire business operations, CEO Amin Nasser said in an interview in Bahrain. The company will soon release the list of banks and consultants advising...

ICL terminates potash project in Ethiopia

October 7, 2016 | Deepti Ramesh

Israel Chemicals Ltd. (ICL; Tel Aviv) says its board of directors, in a meeting on 5 October, instructed the company’s management to take all necessary actions toward terminating ICL's potash investment project in Ethiopia. ICL, in 2015, completed the...

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