Collaborating Towards Net-Zero
Europe’s petrochemical sector plays a vital role in achieving climate neutrality.
Petrochemicals
BP Wants to Sell German Refinery in Gelsenkirchen
Oil giant BP announced plans to sell its refinery in Gelsenkirchen, Germany, operating under the name Ruhr Oel. The assets to be divested include the refinery in Gelsenkirchen and DHC Solvent Chemie in Mülheim an der Ruhr, Germany.
LyondellBasell Completes Acquisition of 35% Stake in Natpet from Alujain
LyondellBasell (LYB) has completed the acquisition of a 35% interest in Saudi Arabia-based National Petrochemical Industrial Company (Natpet) from Alujain. The transaction was announced in January of this year.
KBR Wins Contract from SABIC Fujian Petrochemicals
US-based multinational contractor KBR has been awarded a contract by SABIC Fujian Petrochemicals to license its phenol technology in China.
Ineos Completes Acquisition of TotalEnergies’ Petrochemical Assets at Lavera
Ineos has completed the acquisition of Naphtachimie, Gexaro and Appryl, which were 50:50 Joint Ventures between Ineos and TotalEnergies at Lavera in Southern France.
Murray Auchincloss Appointed as Permanent CEO of BP
BP has appointed Murray Auchincloss as its permanent CEO, effective immediately. He has been interim CEO since September 2023 after the sudden resignation of his predecessor Bernard Looney.
LyondellBasell to Acquire 35% of Saudi Arabia-based Natpet
LyondellBasell (LYB) has agreed to acquire a 35% stake in Saudi Arabia-based National Petrochemical Industrial Company (Natpet) from Alujain for approximately $500 million. Closing of the transaction is subject to regulatory and other customary closing conditions.
Shell to Sell Nigeria Onshore Subsidiary for $1.3 Billion
Following its long-term goal of extracting itself from a challenging operating environment in the Niger Delta, Shell agreed to sell its Nigerian onshore subsidiary Shell Petroleum Development Company of Nigeria (SPDC) to Renaissance, a consortium of five companies comprising four exploration and production companies based in Nigeria and an international energy group, for $1.3 billion.
Ineos Acquires the Eastman Texas City Site
Petrochemicals giant Ineos has agreed to buy compatriot Eastman’s Texas City site, including the 600 kt acetic acid plant and all associated third party activities on the site, for about $500 million.
DuPont to Pay $19 Million for 2014 Plant Explosion
Du Pont has been found guilty of criminal negligence and fined $12 million in connection with a November 2014 explosion that killed four employees of its methyl mercaptan plant in LaPorte, Texas, and caused extensive environmental damage.
Saudi Arabia Gives Sovereign Wealth Fund fresh Cash
Saudi Arabia is transferring another 4% chunk of state-owned oil giant Saudi Aramco, parent company of petrochemicals and plastics producer SABIC, to Sanabil Investments, a vehicle wholly owned by the Kingdom’s Public Investment Fund (PIF).
Saudi Aramco in China Refinery Project
Saudi Arabia is on a path toward establishing a major presence in the Chinese market. Saudi Aramco, the world’s biggest oil producer, said it plans to start construction on a large refinery and petrochemicals complex in northeastern China sometime in April.
Aramco and Sinopec Plan Projects in China, Saudi Arabia
Aramco and Sinopec have signed two separate agreements to develop petrochemical complexes in their home countries of Saudi Arabia and China.
Plastics Industry Slams new US Legislative Proposal
US chemicals and plastics producers have expectedly slammed a new legislative initiative called Protecting Communities from Plastics Act (PCPA) introduced by Democratic Party senators and representatives in both houses of Congress at the beginning of December.
SABIC, Aramco Invest in PKN Orlen
SABIC, Saudi Aramco and PKN Orlen have signed a joint development agreement to assess the technical and economic feasibility of a petrochemical project in the Polish city of Gdansk. The project would include a steam cracker and downstream plants.
Bloomberg Funds Program to Block US Petchem Projects
Michael Bloomberg, the founder of US-based financial, software, data and media group Bloomberg LP and a United Nations special envoy on climate ambition and solutions, has launched a campaign to stop the expansion of petrochemicals and plastics production in the US.
Vietnam Expands in Petchems and Plastics
Vietnam is on its way to becoming a major Asian player in petrochemicals and plastics. Up to now, the country has lagged regional peers such as China or Malaysia in bringing new production facilities on stream, but this is slowly changing.
Lummus Launches Net-Zero Ethane Cracker
Lummus Technology has launched what it terms “a major enhancement” to its technology that allows ethane-based steam crackers to achieve zero CO2 emissions.
Petrobras Closes Deten Sale to CEPSA
Brazilian oil group Petrobras has finalized the sale of its entire 27.88% stake in linear alkyl benzene (LAB) producer Deten Quimica to Spanish energy and petrochemicals group CEPSA Quimica for 514 million Brazilian reais.
Sibur and TAIF Finalize Petchems Merger
Sibur and TAIF have finalized the terms of their petrochemical merger. The move follows an announcement on Apr. 23 that the firms had initiated steps to create a combined company that will be Russia’s largest petrochemical producer and one of the top five global polyolefin and rubber producers.
Honeywell Wins Egyptian Petchems Contract
Honeywell Process Solutions (HPS) has won a contract to upgrade Sidi Kerir Petrochemicals Company’s (Sidpec) production capabilities at its flagship complex in Alexandria, Egypt.
KNM Forms JV for Malay Petchem Projects
KNM Process Systems (KNMPS), a wholly owned subsidiary of Malaysia’s KNM Group, has entered into a heads of agreement to form a joint venture with ADAP Capital to participate in oil, gas and petrochemicals projects in Sarawak, Malaysia.
Shell International Ltd.
Camelot Management Consultants AG
LyondellBasell
DistriConsult GmbH
Haltermann Ltd.
EPCA
Stratley AG
Oxea
SOCMA Society of Chemical
Wacker Chemie
Roland Berger GmbH
KPMG AG Wirtschaftsprüfungsges.
Bilfinger SE
American Chemistry Council
Edelman Southside
Antwerp Port Authority
Chemical Market Reporter
Ontario Int. Marketing Ct.
BCG The Boston Consulting Group GmbH
Frost & Sullivan
Ineos
Lummus Technology
SK Energy