Industry: Oil & Gas

Nova Chemicals announces profitable third quarter results NOVA Chemicals Corporation announced net income of $56 million ($0.60 per share diluted) for the third quarter of 2004. This compares to net income to common shareholders of $27 million ($0.30 per share diluted) in the second quarter of 2004. In the third quarter of 2003, NOVA Chemicals […]

ExxonMobil to acquire 50% share in CIPEN ExxonMobil Chemical announced its plans to acquire Basell’s 50 percent share in the Compagnie Industrielle des Polyéthylènes de Normandie (CIPEN) plant in Notre Dame de Gravenchon, France, giving it 100 percent ownership of the facility. The plant manufactures linear low-density polyethylene (LLDPE) resins. The acquisition is effective as […]

ExxonMobil & Fujian Petrochemical to construct chemical complex Fujian Petrochemical Company Limited (a company owned 50 percent by China Petroleum & Chemical Corporation (Sinopec) and 50 percent by Fujian Government) (FPCL), ExxonMobil China Petroleum and Petrochemical Company Limited (ExxonMobil), and Aramco Overseas Company B.V. (Saudi Aramco) reached agreement to jointly fund the front end loading […]

ExxonMobil & Fujian Petrochemical to construct chemical complex Fujian Petrochemical Company Limited (a company owned 50 percent by China Petroleum & Chemical Corporation (Sinopec) and 50 percent by Fujian Government) (FPCL), ExxonMobil China Petroleum and Petrochemical Company Limited (ExxonMobil), and Aramco Overseas Company B.V. (Saudi Aramco) reached an agreement to jointly fund the front end […]

Russian polyolefins producer Lukoil is rumored to be the potential suitor for Basell Polyolefins Russian polyolefins producer Lukoil could bid for Basell. Shell and BASF announced their plans to review strategic options regarding their 50-50 joint venture, Basell. Rumors are that Lukoil was understood to have expressed an interest in Basell. It was also reported […]

BASF and Shell review strategic options regarding their joint venture Basell BASF and Shell announced their plans to review strategic alternatives regarding their joint venture Basell, in which they both hold a 50 percent equity interest. The options being reviewed by the shareholders include the sale of their stakes and an equity market transaction. During […]

Dow introduces a new line of Affinity GA polyolefin plastomers for hot melt adhesives and polymer modification Dow Chemical Company announced the commercial launch of AFFINITY® GA Polyolefin Plastomers (POPs), a new line of highly versatile polyolefin polymers. Developed using Dow’s proprietary INSITE® Technology and Solution Process, AFFINITY GA POPs are the first products of […]

BP to sell over 50% of petrochemicals business and prepares for IPO BP announced that it plans to consolidate the Olefins and Derivatives (O&D) division of its petrochemicals business into a stand-alone entity able to operate separately from the BP Group. The new O&D business will incorporate more than half of the $13 billion of […]

ExxonMobil develops new PP resin grades in Europe ExxonMobil Chemical announced the availability of an advanced polypropylene resin grade – ExxonMobil PP5122E1-designed to provide the high transparency and stiffness required for demanding sheet and thermoforming applications. ExxonMobil PP5122E1, available only in Europe, is a clarified polypropylene using proprietary ExxonMobil Chemical formulation processes. ExxonMobil PP5122E1 resin […]

NOVA and BP in agreement with Grace Davison to supply new NOVACAT™T Ziegler-Natta polyethylene catalyst NOVA Chemicals and BP Petrochemicals announced that they have entered into a long-term supply arrangement with the polyolefin catalyst business of Grace Davison for the manufacture of NOVACAT T advanced Ziegler-Natta catalysts. These catalysts, which are designed for gas-phase polyethylene […]

Basell’s PE process technology licensing activity on the rise Basell announced that Salavatnefteorgsintez, a Russian petrochemical company controlled by Gazprom, has signed a licensing agreement to use Basell’s Hostalen technology for a new 120,000 MT/year high-density polyethylene plant at Salavat, Republic of Bashkortostan, Russia. The plant is scheduled to be completed in 2006. In a […]

BP licenses Innovene technology for Sasol Polymers polypropylene expansion BP and Sasol Polymers announced the signing of an agreement to license BP’s Innovene polypropylene process technology for the expansion of Sasol’s polypropylene facilities located in Secunda, Republic of South Africa. The new plant will have an annual capacity of 300,000 MT/year, produce homopolymers, random copolymers, […]