BASF makes deep cost cuts in response to energy crunch
BASF unveiled fresh cuts to investment and measures to reduce operating costs as the company adjusts to more expensive energy, higher interest rates and a slump in demand.
Petrochemicals
Essar puts UK low carbon opportunity at heart of $3.6bn investment
Essar said hydrogen and biofuels are becoming globally significant fuels. “The UK is positioned strongly to spearhead the rapid growth of the European low carbon fuels market,” it said. “The UK already benefits from an advanced regulatory and policy framework to support low carbon energy production”.
Adnoc buys a quarter stake in OMV
Adnoc has struck a deal to buy a 24.9% stake in Austria’s OMV, for an undisclosed price, from Mubadala Investment.
Wood secures $100m+ contract for INEOS olefins plant
Aberdeen-headquartered Wood (LON:WG) has secured a contract from Ineos worth in excess of $100 million (£83m) to build “Europe’s most innovative” olefins complex in Belgium.
Kent wins hydrogen work at HyNet
Kent has won design work on a blue hydrogen project at HyNet. This is one of the two clusters picked by the UK government for the fast track.
Prevention of corrosion, scaling and fouling
Novel injection, dispersion & mixing technology combats refinery corrosion