Mittal in five prong petrochem MoU with HPCL, GAIL, Oil India and Total

LN Mittal has extended his group's foray into oil exploration and refining with an entry into petrochemicals to widen his presence in the hydrocarbons value-chain. Luxembourg-based Mittal...

Thermoset Nanocomposites for Engineering Applications

Thermoset nanocomposites are complex hybrid materials, which integrate nanoparticles with polymers to produce a novel nanostructure, with extraordinary properties. Organic/inorganic hybri...

Consortium of foreign companies mull petrochemical plant in Peru

A consortium of foreign companies is mulling investment of US$1 bln to build a petrochemical plant in Peru as the government lures investment to the nascent sector. Australia's Orica Ltd....

Reliance reports 28% increase in Q2-08 profit

Reliance Industries Ltd. has reported a 28% jump in Q2-08 profit, as gains in petrochemicals offset lower refining margins caused by a weaker dollar. Profit rose to Rs 38.37 bln (US$950 ...

Sinopec to sell HK$21.63 bln stake in Tianjin project to SABIC

China Petroleum & Chemical Corp, or Sinopec, Asia´s biggest refiner, is close to an agreement to sell a stake in a 21 billion yuan ethylene plant in the northern city of Tianjin to Saudi ...

LANXESS bolsters business in Central and Eastern Europe

LANXESS (Leverkusen-based chemicals group) is strengthening its commitment in central and eastern Europe by setting up a sales company specifically for business in these growth markets. T...

GAIL plans US$4bln chemical projects to offset slowing growth due to price control

GAIL (India) Ltd., that earns half of its revenue from gas, is planning projects worth US$4 bln to expand in chemicals and offset slowing profit growth because of government controls on g...

PetroVietnam allocates US$6 bln for second refinery and petrochemical complex

The VietNam Oil and Gas Group (PetroVietnam) has allocated US$6 bln for the construction of a second refinery and petrochemical complex in Tinh Gia District of Thanh Hoa Province. PetroVi...

Rabigh refinery to shut for one month

Saudi Aramco is to shut down its 400,000 bpd Rabigh refinery from next week. This four week long shutdown will enable the plant to be linked up to Aramco's new US$10bn joint venture petro...

Robust Q2-08 results estimated for RIL due to rising petrochemical margins

At Reliance Industries Ltd.'s second quarter results due on Thursday, analysts are optimistic about the company's performance. High petrochemical margins and the merger with Indian Petroc...

Polyols for Polyurethanes based on renewable raw materials

The soaring prices of crude oil have sparked a debate about the benefits that increased use of renewable raw materials might bring to plastics production. Another aspect is the greater en...

Oil prices hover above US$87 despite dropping

Oil prices continue to hover around the US$87 a barrel mark, despite dipping in Asian trading. The drop in price was attributed to a U.S. inventory report showing larger than expected fue...

BCPL and ONGC sign Feedstock Supply Agreement for Assam Gas Cracker

Brahmaptura Cracker and Polymer Limited (BCPL) has signed the Feedstock Supply Agreement with Oil and Natural Gas Commission (ONGC) for the 2,80,000 tpa project being set up at Lepetkata,...

JG Summit acquires 17.7% stake of Marubeni Corp. in JG Summit Petrochemical Corp.

JG Summit Holdings Inc., the holding firm of the Gokongwei group, has regained 100% ownership of its subsidiary JG Summit Petrochemical Corp. This has been possible with the acquisition o...

Scheduled plant maintenance in Asia

Huntsman stockholders approve merger with Hexion

At a special meeting of Huntsman Corporation, the company's stockholders unanimously voted to approve the merger agreement with Hexion Specialty Chemicals, Inc. (Hexion). Under the ter...

Turkey's Privatisation Administration yet to arrive at a decision on Petkim sell-off

Turkey's Privatisation Administration (OIB) has made no decision on selling petrochemicals firm Petkim. The highest bidder was a Kazakhstan-based consortium, Transcentral Asia Petrochemic...

Andhra Petrochemicals Ltd plans oxo alcohols capacity expansion at Visakhapatnam

The Andhra Petrochemicals Ltd. has planned expansion of its existing oxo alcohols production facility in Visakhapatnam, India. The expansion will increase production capacity to a total...

Maintenance shut down at Thai PTT ethylene plant planned for 2008

Thailand's largest olefin manufacturer - PTT Chemical Pcl, has planned maintenance shutdowns at its ethylene plants in 2008. PTT plans to shut two of its three ethylene plants in Map Ta P...

Oil prices recoil to US$87 in Asia

Oil prices recoiled to mid 87 dollar levels in Asia from record highs amid expectations that todays' fuel report will show a rise US crude and gasoline inventories. Light, sweet crude for...