Industry: Refining & fuels

AMERICAS LyondellBasell Updates RIL raises an additional US$763 million to fund Lyondell’s buy Reliance Industries Ltd has raised US$763 million (Rs 3,465 crore), its third big equity fundraising in under four months. With this, the company has raised over Rs 9,000 crore (US$2 billion) by selling treasury stocks in three tranches. Reliance sold 33 million […]

AMERICAS LyondellBasell Updates Access Industries terms US$12 billion offer by RIL too low for LyondellBasell Access Industries claimed that the US$12 billion which RIL has valued LyondellBasell was too low, and lacked merit. Access Industries claimed that since creditors like Apollo would make losses if the deal were to go through at RIL’s initial offer, […]

European refinery divestments, driven by declining fuel demand, overcapacity, biofuel growth, and carbon emission costs, attract bids primarily from emerging economies anticipating increased transportation fuel demand.

My Turn – Dr. Balaji B. Singh – Have a Merry Christmas Comments: Hope everyone will have a happy and peaceful Christmas. Reductions In Force have of late become a necessary evil. No organization ever plans for it …. Just like no employee ever comes to work for an organization with a pre-determined idea of […]

Dow to acquire Rohm and Haas for $18.8 Billion Dow and Rohm and Haas announced a definitive agreement, under which Dow will acquire all outstanding shares of Rohm and Haas common stock for $78 per share in cash. The acquisition of Rohm and Haas will make Dow the world’s leading specialty chemicals and advanced materials […]

Hexion Chemicals to Back out of Huntsman acquisition deal Hexion Specialty Chemicals Inc. is seeking to cancel an agreed $10.6 billion purchase of the U.S.-based chemicals producer Huntsman Corporation. According to Huntsman, the actions “are inconsistent with the terms of the merger agreement and the obligations to Huntsman and its shareholders,” and “appear to be […]

Chemical companies announce price increases to combat energy costs Several companies such as Dow Chemical, Rohm & Haas, and Huntsman, announced their plans to increase prices for all their products. Dow Chemical Company announced that on June 1 it will raise the price of all of its products by up to 20 percent – depending […]

Total and Saudi Aramco consider the construction of a petrochemicals complex in Saudi Arabia Saudi Aramco and Total are planning to proceed with a previously announced refining and petrochemical project at Al Jubail, Saudi Arabia. The decision follows a comprehensive, joint front-end engineering and design study launched two years ago. The refinery will have a […]

Dow Chemical commercializes developmental olefin block copolymers for several applications Dow Chemical announced the widespread availability of nine developmental olefin block copolymers (OBCs), which will be marketed as INFUSE™ OBCs upon commercialization. Customers around the world can purchase large-volume quantities of these developmental OBCs without the requirement for confidentiality agreements. INFUSE OBCs feature unique block […]

Sahara Petrochemicals Al Jubail and Rohm & Haas to develop acrylates complex in Al Jubail – Chemical Market Resources Inc. – Accomplishment in 18 months – from concept to execution Chemical Market Resources Inc is proud to announce the joint venture announcement between Sahara Petrochemicals – Al Jubail and Rohm & Haas to develop an […]

Keltic Petrochemicals receives approval to construct a petrochemical complex in Nova Scotia Keltic Petrochemicals Inc. announced its plans to develop, construct, and operate a world-scale petrochemical plant in Goldboro, Nova Scotia. When completed, the facility will consist of ethylene, polyethylene, propylene, and polypropylene plants as well as a supporting cogeneration plant and a receiving terminal […]

Dow to strategically evaluate its business portfolio Dow Chemical announced its decision to realign a number of businesses to a newly created business group, Dow Portfolio Optimization. Each of the businesses within the new group has been earmarked for strategic evaluation, with the goal of defining how best to maximize its long-term value to the […]