China’s newest oil refiners are thriving by aligning themselves with President Xi Jinping’s vision, expanding even as their older rivals and several other private businesses have been reined in by Beijing.
A subsidiary of chemicals giant Ineos has snapped up North America’s top producer of sulphur dioxide and other chemicals used for treating wastewater for an undisclosed fee.
Ineos Enterprises, part of the Swiss-based company owned by billionaire industrialist Jim Ratcliffe, bought Calabrian Corporation from New York private-equity firm SK Capital Partners late last month.
SK recapitalised Calabrian in 2011 alongside the Cogliandro family, which founded the company.
Saudi Arabian Oil Co. and Saudi Basic Industries Corp. are one step closer to building their first plant to process crude directly into chemicals, cutting out a link in the production chain from hydrocarbons to the finished products that go into plastics and other consumer goods.
North-east offshore chemical engineering firm Aubin Group was yesterday presented with a Queen’s Award in recognition of its overseas sales growth.
About 140 awards were announced this year for outstanding business achievement, with Aubin honoured for international trade.
The Ellon-based company has beefed up its income from exports by more than 100% in the past three years and has expanded its client base to span 16 countries.
A plant in southeast China that produces a toxic chemical was rocked by its second explosion in 20 months, prompting a rescue operation by the nation’s army and reviving concerns about the safety of industrial projects.
The army deployed 118 soldiers and 25 specialized vehicles after the blast at the paraxylene-making Dragon Aromatics facility in Zhangzhou, People’s Liberation Daily reported on Weibo, a microblogging service.
Local residents have been transferred to four sites that are 18 kilometers (11 miles) away from the plant, the Beijing Times newspaper said.
Six people were hospitalized, and another 13 were treated for minor injuries, according to the official Xinhua news agency.