Asia/Pacific
Eastman to buy US specialty chemicals firm Solutia in $4.7 billion deal
Eastman Chemical has agreed to acquire US-based specialty chemicals and performance materials firm Solutia, a global leader in performance materials and specialty chemicals, in a deal valued at about $4.7 billion (including debt). The deal is expected to close in mid-2012.
Samsung, Total plan $1.8 billon expansion on South Korea petrochemical venture
Construction at the Daesan complex will include a second aromatics1 unit and an ethylene-vinyl acetate (EVA) copolymer unit.
UOP technology chosen for diesel, lube production at Pakistan refinery expansion
Honeywell’s UOP says that its new process technology designed to help refiners get more product from each crude barrel has been selected by National Refinery Limited (NRL) to maximize diesel and lubricant production in Pakistan. The facility will produce 40,000 bpd of diesel fuel and 4,500 bpd of lube base oils.
US business lobby likes Obama plan on China
A US business lobby group voiced support for President Barack Obama's proposal for export financing for US companies competing against Chinese rivals in third-country markets, seeking a more "level playing field" with Chinese companies.
Sinopec boosts Queensland LNG stake in Australia
Australia Pacific LNG and Sinopec amended their existing LNG sales agreement for the supply of an additional 3.3 million tpy of LNG through to 2035 from Australia Pacific LNG’s world-class coal seam gas resources and LNG facility on Curtis Island, Gladstone in Queensland. Sinopec’s ownership interest will rise to 25% from 15%.
Toyo lands engineering, construction deal on China caprolactam venture
Toyo Engineering Corp. has been awarded a contract for a caprolactam plant for DSM Nanjing Chemical (DNCC), a joint venture company between Royal DSM and Sinopec. After the completion of the new project, DNCC will become the largest caprolactam producer in the world with 400,000 tpy of capacity.
Global oil, gas leaders see higher 2012 spending as industry confidence rises - poll
Oil and gas industry leaders have forecast improved performance and higher levels of capital expenditure in 2012 despite concerns over global economic instability, according to a new report on the future of the sector. North America is emerging as the area with the greatest opportunities in 2012, the poll shows.
Foster Wheeler to design new India LNG terminal
Foster Wheeler has been awarded a contract for a new LNG receiving terminal to be built in Ennore, in the state of Tamil Nadu, India. The LNG terminal facilities are planned for completion by 2015-16.
CNPC inks deal with Shell, Qatar for China refinery, petrochemical project
China National Petroleum Corp. (CNPC) said Thursday that it signed a deal with Qatar Petroleum and Shell to build a refining complex in the eastern Chinese city of Taizhou. The project will import condensate and raw materials to produce ethylene and other petrochemical products.
Samsung, Total tap UOP technology on South Korea petrochemical, fuels venture
Honeywell’s UOP has been selected by the Samsung Total Petrochemicals Co. joint venture to provide technologies for the production of key petrochemicals and high-quality diesel and jet fuel at its complex in Daesan, South Korea. The units are expected to start up in 2014.
- XRG to expand its global chemicals reach with takeover of Covestro 11/21
- U.S. FERC explores blanket authorizations for LNG projects 11/21
- thyssenkrupp Uhde selected by Dangote Fertilizer Ltd. to license four urea granulation units in Nigeria 11/21
- Indian and Chinese refineries are moving to comply with U.S. sanctions on Russia 11/21
- Dynamis Power Solutions awards Baker Hughes with significant order for gas turbine technology to support mobile power for oil and gas applications 11/21
- China's first coal-to-chemicals project with green hydrogen starts commercial operations 11/20
