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COMPANIES

Shell to curtail spending by $15 billion over next three years, chemical earnings slide on Moerdijk shutdowns

6:39 AM MST | January 29, 2015 | Francinia Protti-Alvarez

Royal Dutch Shell says that it is curtailing its group-wide investment by $15 billion over the next three years because of falling oil prices. Organic investment is expected to be lower in 2015 than last year, the company announced today with the release of...


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SGL Carbon expects "substantial net loss" of about $284 million for full-year 2014

SGL Carbon (Wiesbaden) has announced preliminary results for fiscal year 2014, describing the year as “challenging.” Group Ebit “declined substantially” year-on-year, but the company says that preliminary results indicate that it will...

Albemarle earnings fall short of estimates on lower sales

Albemarle today reported a fourth-quarter net loss of $18.5 million, or 24 cts/share, compared with a profit of $155.9 million in the year-ago quarter. Net sales declined 6.4% year-on-year (YOY), to $598.6 million. Earnings in both periods were significantly...

Reports: Cepsa considers selling some PTA and other assets

Cepsa Química (Madrid), a Cepsa subsidiary,  is mulling the sale of two of its petrochemical facilities, according to local press reports. One plant is near Cádiz, Spain; and the other is at Montreal, the reports say. The assets produce...

Report: Germany has become less attractive as location for SMEs

The attractiveness of Germany as a location for small- and medium-sized enterprises (SME) in the chemical industry has deteriorated during the last five years, according to the results of a study. A lack of appropriate political-industrial measures has...

Cytec beats estimates, but earnings hit by accounting adjustment

Cytec today reported a fourth-quarter net loss of $29.3 million, or 41 cts/share, compared with a profit of $59.4 million in the year-ago quarter. Sales from continuing operations rose 1% year-on-year (YOY), to $485 million. Earnings were hit by several...

Matrica signs agroindustrial supply chain agreement

Matrica (Novara, Italy), a 50-50 joint venture between Novamont (Novara) and Versalis (Milan), has signed an agreement with  Coldiretti (Roma) and Consorzi Agrari d’Italia, for the creation of innovative agroindustrial chains to create short-chain...

Ashland earnings fall on elastomers sale charge, but beat estimates

Ashland today reported fiscal first-quarter net income from continuing operations down 55% year-on-year (YOY), to $40 million, or 57 cts/share, on sales that were roughly flat at $1.4 billion. Earnings were hit by a one-time charge for a loss on the sale of...

Moody's: Removal of cap on Swiss franc will hurt Switzerland-based chemical firms' earnings

The Swiss National Bank’s (Bern) recent decision to remove the peg between the Swiss franc and the euro—resulting in a rapid strengthening in the Swiss currency’s value—will put downward pressure on Switzerland-based companies'...

Report: Orpic starts 29-day turnaround at Sohar refinery

Oman Oil Refineries and Petroleum Industries Co. (Orpic; Muscat) began a planned 29-day maintenance turnaround at the company's Sohar, Oman, refinery late yesterday, according to a report from Reuters quoting the company's CEO. The turnaround is not expected...

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