Published on May 6, 2017
India’s leading petrochemical refinery Reliance Industries Ltd has been one of the leading manufacturers of Para Xylene in the world. With starting of new addition capacity of plant in December, TIL has become the second largest producer of Para Xylene in the world. Starting of 2.2mln mt/year unit in Jamnagar has escalated the total capacity to 4.2 mln mt/year. Company is noe planning to enter in the ACP of chemical. It is in discussion with Hanwha Total of South Korea for Asian Contract P ..
Published on May 5, 2017
PTTGlobal has announced its schedule to shut its unit no.1 cracker unit for maintenance. The olefin unit no1 is likely to undergo maintenance in May end and is expected to remain off-stream for around 40 days. It also operates another olefin at the same location. The unit no1 is likely to undergo maintenance in the May end and will remain off-stream for around two weeks. Unit is located at Map Ta Phut in Thailand. Unit no1 has the production capacity of ethylene around 5,15,000 mt/year &a ..
Published on May 5, 2017
An incident of gas leakage was witnessed on Tuesdat at Grangemouth site in Scotland. The situation is under control and leakage has been isolated with staff being released from the site. "The incident was caused by a leak on a pipe carrying ethylene gas which has been identified and is being isolated," Ineos said in an emailed statement on Tuesday. Earlier, the company said it had detected the leak on a pipeline inside its Kinneil Gas manufacturing plant at noon, prompting it to close a number ..
Published on May 4, 2017
The four largest petrochemical companies in South Korea are planning to make an investment of around10 trillion in total this year. Specifically, LG Chem’s capital expenditure for this year is estimated at 2.7 trillion. Lotte Chemical in the first quarter of this year, is expected to amount to 2 trillion This year. 120 billion is slated to go to its special synthetic rubber manufacturing facilities about to be completed in Yeosu, South Korea and 300 billion is to be invested in its ethyle ..
Published on May 2, 2017
In a major announcement, RIL said that it has commissioned ethane project including start-up of Ethane receiving and handling facilities at its manufacturing facility in Dahej in Gujarat. The project includes securing ethane refrigeration capacity in the gulf coast, delivery and transport of ethane from US gulf coast to west coast of India laying the pipelines and upgrading crackers to receive ethane at the Dahej, Hazira and Nagothane manufacturing plants. In October 2016, RIL signed agreements ..
Published on May 1, 2017
Indian Oil Corporation is planning to invest Rs 10,000 crore in upcoming 4 years to make Bharat Stage VI or Euro-6 standard fuel in its Haldia refinery. As per source, Supreme Court has directed the use of Bharat stage VI grade fuel in all the vehicles by 2021. So, Indian Oil will have to upgrade it quality of production. The investment process has already started and will employ entire budgeted capital by 2021, said by report. While the entire investment would be divided into phases, th ..
Published on April 29, 2017
The central government decided to set up petroleum, chemicals and petrochemical investment region (PCPIR) at Paradip covering an area of 284.15 square km in Jagatsinghpur and Kendrapada districts, Odisha has emerged as a hot destination for petrochemical industries. Experts attending a two-day seminar organised by the Indian Institute of Chemical Engineers (IIChE) said this here on Thursday. Further Odisha has become an investment paradise in the mineral sector. It has a lot of potential in the ..
Published on April 29, 2017
BP has decided to sell its 50 percent stake in the Shanghai SECCO Petrochemical Company to a subsidiary of its joint venture partner Sinopec for $1.68 billion. The sale represents BP's first major divestment of a year in which it expects to sell assets worth between $4.5 billion and $5.5 billion this year. It said it decided to sell out of the business because it wants to focus on areas where BP has proprietary technologies that give them a competitive advantage. "China is a key region for ou ..
Published on April 27, 2017
Exxon Mobil and SABIC has selected San Patricio county, north of Corpus Christi for 9.3 billion dollar petrochemical plant. , The site was one of four Gulf Coast sites under consideration for the plant, including one in Victoria and two in Louisiana. The plant is part of ExxonMobil’s $20 billion “Growing the Gulf” initiative as announced last month. There has been strong opposition from local residents of nearby Portland who point out that the site is very close to nearby schoo ..
Published on April 26, 2017
Iran has been quite open and flexible to the other nations and has been inviting them to invest more and more in its petrochemical industry. The country has been seeking more and more foreign investment in order to expand its foothold in the global petrochemical market. "Almost $40 billion worth of petrochemical projects are to be developed by the end of the sixth five-year economic development plan (2017-22). Unquestionably, we need foreign finance to attract this amount of capital and cannot s ..
