Industry: Refining & fuels

AMERICAS LyondellBasell Updates LyondellBasell prices USD 2.75 billion senior notes LyondellBasell Industries (LBI) has priced a senior note offering at USD 2.75 billion to support the chemical company’s emergence from Chapter 11 bankruptcy protection. The notes will be issued by LBI Escrow Corp., which will merge into subsidiary Lyondell Chemical Co., as part of Lyondell […]

AMERICAS LyondellBasell Updates LyondellBasell could emerge from Chapter 11 LyondellBasell Industries (LBI) has reached an agreement that could help it emerge from Chapter 11. LBI’s unsecured creditors swapped sides after being offered an extra USD150 million worth of shares. Unsecured creditors, including bondholders, are estimated to hold around USD 3 billion of debt and had […]

AMERICAS LyondellBasell Updates China Petroleum & Chemical and TPG may acquire LyondellBasell China Petroleum & Chemical Corporation (Sinopec) and TPG Capital, L.P. (formerly Texas Pacific Group) are planning a joint bid to acquire LyondellBasell Industries AF S.C.A. Reliance Industries Limited have previously submitted a preliminary non-binding offer to acquire a controlling interest in LyondellBasell in […]

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 […]