Asia/Pacific
Reliance Power, Shell to build new LNG terminal on India's east coast
Royal Dutch Shell, Reliance Power and Kakinada Seaports will jointly build a terminal on India's east coast to import liquefied natural gas. The 5 million tpy terminal is expected to start operations by 2014 and its capacity may be doubled to 10 million tons later, the Indian company said in a statement.
Formosa shuts top Taiwan naphtha cracker amid weak downstream margins
Taiwan's Formosa Petrochemical, Asia's top naphtha buyer, has shut the biggest of its three naphtha crackers in Mailiao due to low petrochemical margins, a company spokesman said on Thursday.
WR Grace buys Noblestar catalysts unit in China
W. R. Grace & Co. has signed an agreement to acquire the assets of Noblestar Catalysts, a China-based manufacturer of fluid catalytic cracking (FCC) catalysts. The deal has been approved by the boards of directors of both companies, but is subject to the satisfaction of other closing conditions.
Air Products to supply gases for China LCD facility
Air Products said Tuesday that it signed a long-term contract with Xiamen Tianma Microelectronics to supply bulk gases, including ultra high-purity nitrogen and oxygen, hydrogen, argon, and helium, at a new facility in China. Financial terms of the contract were not disclosed.
UOP opens gas processing membrane production center in Malaysia
UOP has opened a manufacturing and operations center in Penang, Malaysia, to produce natural gas membrane elements to support the growing natural gas market. Removing impurities is necessary before the gas can be used as fuel, as a source for petrochemicals or distributed by pipeline.
Technip to buy Shaw energy, chemicals business
Shaw is selling the segment to Technip for $300 million in cash, adding that further collaborations between the two companies are possible for Shaw’s core business units. The companies further agreed to work toward developing future business relationships involving Shaw’s core business units.
WR Grace eyes new China refining catalysts plant
W. R. Grace has signed an agreement with the Qingdao Bureau of Commerce for an investment in China to manufacture fluid catalytic cracking (FCC) catalysts and other related products for the refining industry. Construction dates and financial terms of the investment were not disclosed.
Shell remains committed to natural gas plan - CEO
Royal Dutch Shell believes rising natural gas demand will underpin its future profits, even though oil pricing still accounts for 80% of its margins, its CEO Peter Voser said on Tuesday. Despite a recent drop in US gas prices, the long-term pricing outlook for natural gas remains strong, he noted.
PetroSA partners with China's Sinopec to build new South Africa refinery
South Africa's national oil company PetroSA will partner with China Petroleum and Chemical Corp. (Sinopec) to build a new refinery that was originally planned to produce several thousand barrels of oil a day and cost several billion dollars to build. PetroSA first announced plans for the refinery in 2008.
Phillips 66 licenses technology to Reliance for India gasification project
The planned gasification plants at the massive refining complex in Jamnagar will process petroleum coke and coal into synthesis gas for use as chemical feedstock.
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