Industry: Specialty chemicals

BP’s petrochemical subsidiary Innovene files for $1 billion IPO The petrochemical subsidiary of BP Plc, Innovene Inc., has registered for an initial public offering (IPO) on the New York Stock Exchange to raise $1 billion. In 2004, BP decided that it would either sell or float the business. According to the company’s IPO document – […]

Total Petrochemicals to invest in polyolefin– increase in PP capacity Total Petrochemicals announced its plans to increase its polypropylene (PP) capacity significantly. Total will build a PP line at its La Porte, TX site or at another, undisclosed location, with a minimum capacity of 300 KT by 2008 or 2009. The company is planning to […]

Lukoil-Neftekhim to construct polypropylene plant in Russia based on UNIPOL® process from Dow The Dow Chemical Company and LUKOIL-Neftekhim announced that LUKOIL and Dow’s subsidiary, Union Carbide Chemicals & Plastics Technology Corporate, have signed a license agreement for Stavrolen to use UNIPOL™ PP process technology from Dow for a new polypropylene plant at Budennovsk, Russia. […]

The Chatterjee Group to Pull out of Basell Deal The Chatterjee Group has pulled out of the Basell acquisition. Access Industries will buy Basell through its Nell acquisition unit for $5.2 billion, including debt. BASF and Shell said that they agreed to sell Basell to a group led by Access, which included the Chatterjee group. […]

Private equity firms Access Industries and The Chatterjee Group to acquire Basell The long protracted and much-speculated sale of Basell was finalized. The investment group led by New York-based The Chatterjee Group, along with the New York-based Access Industries acquired the assets and operations of Basell for approximately $5.7 billion US Dollars. It is expected […]

Qatar Petrochemical to Increase LDPE Production Qatar Petrochemical Company (QAPCO) plans to boost the production of low-density polyethylene and ethylene by initiating a major de-bottlenecking. Currently, QAPCO is the largest producer of low-density Polyethylene (LDPE) in the Middle East with an annual capacity of 360,000MT. The company is also stepping up its annual ethylene production […]

Chemical Market Resources Inc. moves to a new home Chemical Market Resources Inc., moved to a new home on March 25, 2005. The premium market research firm and the publisher of this news analysis moved its offices from Nasa Parkway to Blossom Street. The new address and phone number for Chemical Market Resources Inc. are […]

Basell to acquire Repsol YPF’s position in Argentine PP joint venture Petroken Basell announced its plans to assume ownership of the 50% portion of Argentina’s Petroken Petroquimica Ensenada that is currently held by its partner in the joint venture, Repsol YPF. Petroken operates a 180 KT per year polypropylene plant, a 20 KT per year […]

Chemicals & polyolefins producers and other companies report positive fourth-quarter earnings Dow Chemical Dow Chemical announced its fourth-quarter earnings. The company had a total sales for the fourth quarter of 2004 of $10.9 billion, up 31% compared to 4Q 2003. Overall 2004 sales increased to $40.2 billion, 23% higher than in 2003 and a new […]

Dow Chemical to exercise option related to DuPont Dow Elastomers joint venture DuPont and The Dow Chemical Company (Dow) announced that Dow has elected to exercise its option to acquire certain assets relating to ethylene and chlorinated elastomers, including assets of the Engage®, Nordel®, and Tyrin® businesses, from DuPont Dow Elastomers LLC (DDE), a 50/50 […]

Sinopec selects Basell’s Lupotech® technology for the LDPE plant in China Basell announced that China Petroleum & Chemical Corporation (Sinopec) has selected Basell’s Lupotech T technology for a new 250 KT per year LDPE plant to be built at Maoming in Guangdong province, PRC. UHDE GmbH of Dortmund, Germany will be the engineering contractor for […]

Polyolefin producers report third-quarter earnings Dow Chemical Company Dow Chemical announced third-quarter sales of more than $10 billion. The sales for the quarter were the highest for the first time in Dow’s history, up 26% from the same period last year, reflecting a 19 percent increase in price and a 7% increase in volume. Net […]