Braskem, a major Brazilian petrochemicals company, may be forced to sell some assets to deleverage if economic conditions worsen in coming months, says US credit rating agency S&P.
Braskem has completed the expansion of production capacity for its biobased ethylene plant in the petrochemical complex of Triunfo, Rio Grande do Sul, Brazil.
Braskem and its controlling shareholder Novonor (formerly known as Odebrecht) have now confirmed a takeover offer from private equity investors Apollo and Abu Dhabi National Oil Company (ADNOC) for Novonor’s shares in the Brazilian petrochemicals and plastics producer.
Following discussions that started last November, Brazilian polyolefins producer Braskem and Finnish technology and engineering company Coolbrook have now signed an agreement to collaborate on cracker electrification.
Brazilian chemicals and plastics giant Braskem, the largest polyolefins producer in the Americas, has sealed a licensing deal with process engineering firm Lummus Technology covering worldwide production of green ethylene.
Lummus Technology has signed a Memorandum of Understanding (MoU) with Braskem Netherlands, part of Brazilian petrochemical group Braskem, to license the latter’s green ethylene technology. The technology will be deployed in two ethanol-to-ethylene conversion projects that are being developed in North America and Asia. No further details on the projects were disclosed.
Brazilian petrochemical producer Braskem has sought to play down reports that its shareholders are close to selling it. The Bloomberg news agency said last week that the company’s two major shareholders, Novonor (formerly known as Odebrecht), and Petrobras are both actively planning to divest their stakes.
Former Braskem CEO José Carlos Grubisich has pleaded guilty in a US court to conspiring to violate the anti-bribery provisions of the US Foreign Corrupt Practices Act (FCPA) as well as provisions of that act by failing to accurately certify the Brazilian chemical producer’s financial reports.
The European Chemical Industry has set out on an ambitious path to become carbon neutral. Germany, as one of the major chemical manufacturing nations, has committed to achieve this goal by 2050.
The European Chemical Industry has set out on an ambitious path to become carbon neutral.
Brazilian petchems and plastic group Braskem is spending $61 million to expand its production capacity for green ethylene, the sugarcane ethanol-derived main feedstock for renewable polyethylene, at its plant in Triunfo, Rio Grande do Sul, Brazil. With the expansion, expected to be completed in Q4 2022, capacity will rise from 200,000 t/y currently to 260,000 t/y.
US chemical recycling technology specialist Agilyx and Brazilian polyolefins producer Braskem have started a feasibility study to explore the development and construction of a plastics recycling project in North America.
Brazilian petrochemical giant Braskem and Danish catalysis and technology company Haldor Topsoe have announced they have achieved their first-ever production of bio-based MEG at demonstration scale.
Brazilian petrochemical group Braskem has started up a 450,000 t/y PP plant in LaPorte, Texas, USA. The facility, named Delta, produces a variety of grades, including homopolymers, impact copolymers and random copolymers.
Green chemistry company Chemetry is collaborating with Brazilian petrochemicals producer Braskem to build and operate a plant demonstrating Chemetry’s eShuttle ethylene dichloride (EDC) technology. The facility will be installed at Braskem’s chlor-alkali site in Maceio, Alagoas, Brazil. The companies did not reveal when the plant would go into operation.
Brazilian conglomerate Odebrecht has begun the initial process to sell up to its full shareholding in polyolefins producer Braskem. Odebrecht is selling its stake in order to fulfil commitments it made to creditors, both before and during its bankruptcy, Braskem said.
Brazilian national oil group Petroleo Brasileiro (Petrobras) is reportedly within six months of reaching a consensus with construction group Odebrecht on a new shareholder agreement for petrochemicals producer Braskem.
The chemical industry is on the threshold of a new era – the age of circularity. We asked industry experts to share their opinions on this transformational topic.
