Wood has announced a deal to support construction of Ineos’ £2.6billion chemicals complex in Antwerp.
Saudi Aramco has signed a £52.2billion deal to acquire a majority stake in petrochemicals firm Sabic from the country’s sovereign wealth fund.
The Deer Park petrochemical blaze prompted school closures, shelter-in-place orders, spikes in benzene levels and ship channel closures. It also cast a shadow over a petrochemical sector that has struggled to counter negative stereotypes that present the industry as dirty and dangerous.
ExxonMobil and Sabic have picked a site in Texas for a new petrochemical complex on the US Gulf Coast.
Saudi Basic Industries Corp (Sabic), one of the world's largest petrochemicals groups, said on Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of US firm Exxon Mobil (NYSE: XOM). The project will be on the US's Gulf Coast, possibly in Texas or Louisiana, and will include a production facility which will supply ethylene to other units to produce ethylene derivatives, Sabic said in the statement. The two parties will conduct studies and work with state and local officials to help identify a potential site with adequate infrastructure access before making a final investment decision, said Sabic.
Oil and gas producer MOL posted a big jump in first-quarter profit, despite a big drop in its E&P (exploration and production) business performance.
Repsol, the worst-performing major European oil stock over the past year, beat analysts’ estimates as the performance at the refining and chemicals division compensated for low oil prices.
Big Oil is suddenly Big Chemical.
Rosneft has obtained approval to dissolve the Ruhr Oel GmbH Joint Venture from the German Federal Ministry of the Economy and Energy.
South Korea's GS Engineering and Construction Corp has signed a contract to expand a Korea Petrochemical Industry Co (KPIC) naphtha cracking plant for 311 billion Korean won ($270 million), the two companies said on Wednesday. The project will help KPIC expand its ethylene production capacity to 800,000 tonnes per year (tpy) from 490,000 tpy, along with its raising benzene, toluene and xylene production capacity to 300,000 tpy from 220,000 tpy, according to the builder GS E&C in a statement.