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To better serve its customers, Deepak Fertilisers has decided to split its mining chemicals and fertiliser operations.
Deepak Fertilisers and Petrochemicals Corporation (DFPCL), a producer of industrial chemicals and fertilisers, stated on Thursday that it will demerge its mining chemicals and fertilisers businesses as part of a corporate restructuring plan. According to a statement released by the firm, the boar...
Borouge Reports a Net Profit of 490 Million Dollars for the Second Quarter
Borouge is a petrochemical company based in the state of Abu. It is a joint venture between Borealis AG and Abu Dhabi National Oil Co Dhabi and is designed to produce specialty plastics for consumers and manufacturing goods.
Investors looked in awe as Borouge shared that its net profit ...
Avantium Awarded a €3 million EU grant
Avantium NV, a Dutch chemicals business, will receive €3 million in EU financing for a feasibility study on CO2 electrochemical conversion to consumer products.
According to the company, the Horizon Europe money will be used to support its participation in the WaterProof 4-year res...
The petrochemical sector requires a "fair transition" to the green economy, according to the Workers' Party
Given Singapore's extensive ties to the "brown" economy, managing the country's green transition, particularly in the petrochemicals industry, would be critical, said Workers' Party MP Dennis Tan on March 1, the second day of Parliament's Budget discussion.
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Ineos announces over 2 Billion Euros investment in Europe in green hydrogen
Jim Ratcliffe, chairman of Ineos, is planning to invest a large amount of money in Europe in the field of green hydrogen.
Highlights
• Ineos announced its plan to invest in green hydrogen production in Europe
...
SK INNOVATION SEES NET LOSS OF $325.3 MILLION IN Q1 2021
Highlights –
- SK Innovation sees net loss of $325.3 million in Q1 2021.
- The company’s operating profit was recorded 502.6 billion won.
- The company’s sales fell 16.4 percent on-year to 9.2 trillion won.
- On the Seo...
LARSEN & TOUBRO HEAVY ENGINEERING UNIT GETS BIG CONTRACTS IN Q4FY21
HIGHLIGHTS
- The Heavy Engineering Unit of Larsen & Toubro has bagged major contracts in Q4FY21.
- L&T Heavy Engineering also earned contract to develop a Critical Reactor system.
- The contract has been given by IOCL's Petrochemical ...
COVID RESTRICTIONS SLOW DOWN PETROCHEMICAL TRADE IN INDIA
HIGHLIGHTS
- Fresh restrictions imposed to prevent the spread of COVID-19 are slowing down the petrochemical trade in India.
- Indian rupee is becoming weak in the international market.
Petrochemical trades in India are slowing down due ...
CHRYSCAPITAL INVESTS USD 50 MILLION IN SAFEX CHEMICALS
HIGHLIGHTS
- ChrysCapital is investing US $ 50 million in Safex Chemicals.
- The revenue of Safex has increased at a CAGR of 26% over the last four years.
- With its pan-India presence, Safex Chemicals has a network spanning more than 10,000 dist...
DECLARING VIRUS VICTORY NOT A SMART MOVE SAYS US PRESIDENT BIDEN
Highlights
• President Biden and the CDC head also appealed for mask requirements and other restrictions are required to be maintained or restored to keep the fourth surge of coronavirus at bay
• Walensky said that the virus cases are up nearly 10 percent over the pe...
IDCO SIGN MOU FOR PARADIP PLASTIC PARK
HIGHLIGHTS
- IDCO and IOCL have signed MoU to develop Paradip Plastic Park in Odisha.
- Till MAR 2030, an incentive of Rs 2000/MT shall be offered to the manufacturing units on Polypropylene granules from Paradip Refinery.
- Shipment from Refiner...
HALDIA PETROCHEMICALS WANTS 50 PERCENT CAPACITY HIKE
HIGHLIGHTS
- Haldia Petrochemicals wants to increase its capacity hike by 50%.
- Haldia Petrochemicals is starting a project in order to produce 345,000 tonnes per annum of additional polymer.
- To facilitate new ventures, Haldia Petrochemicals h...
S. KOREA’S EXPORTS RISE IN FEBRUARY BY 9.5 PERCENT
Highlights –
- S. Korea’s exports rise in February by 9.5 percent.
- The country’s exports came to $44.8 billion last month.
- The imports rose by 13.9 percent to $42.1 billion.
- Outbound shipments of chips expanded 13...
INDIA INAUGURATES BPCL’S 1.1 BILLION DOLLARS PETROCHEMICAL COMPLEX IN KOCHI
HIGHLIGHTS
- BPCL has started a petrochemical complex in Kochi.
- US $ 1.11 Billion have been invested in this complex.
Recently, Indian Prime Minister (PM) Narendra Modi inaugurated Rs 60 billion (equal to US $ 1.1 billion) petrochemica...
YARA PLANNING TO PRODUCE GREEN AMMONIA IN NORWAY
Highlights:
- The company ‘Yara’ is planning to produce green ammonia in Norway
- The fertilizer giant of Norway said that, the primary use of the green ammonia is going to be fuel instead of fertilizer
The company Yara, whic...
ROCHELLE WALENSKY TO HEAD THE CENTERS FOR DISEASE CONTROL AND PREVENTION (CDC)
Highlights
• The United States President-elect Joe Biden has finalized the name of Rochelle Walensky to head the Centers for Disease Control and Prevention (CDC)
• Walensky, who is also a professor of medicine at Harvard Medical School, will take the charge from Robe...
RIICO SOUGHT UAE INVESTORS TO ENTER IN PETROCHEMICAL BUSINESS
HIGHLIGHTS
- RIICO has contacted the financial speculators in UAE to look for interests in its Petroleum, Chemicals, and Petrochemicals Investment Region (PCPIR) in Barmer
PCPIR is coming up in Pachpadra where HRRL, the joint endeavor organizatio...
EUROPE: THE PRODUCERS OF PETROCHEMICALS ARE ANTICIPATING ON A BETTER OPERATING ENVIRONMENT
Highlights:
- The Petrochemical producers in Europe are anticipating for a better operating environment
- More fundamental shifts in the patterns of the demand will be becoming apparent over the time
The virtual European Petrochemical As...
SHELL STARTS FRAM GAS AND CONDENSATE FIELD AS STRATEGY UNDER REVIEW IN UNITED KINGDOM
Highlights:
- The company Shell has started the production of the Fram gas and the gas condensate field in North Sea in the United Kingdom
- Shell said in a statement that the Fram had came on stream on 16th June 2020 and it is expected to produce 12,400 ...
DANIEL PRUDE'S DEATH SPARKS PROTESTS IN ROCHESTER, 11 ARRESTED
According to Rochester, N.Y., authorities, total 11 protestors have been arrested overnight after protests sparked over the death of Daniel Prude in a police encounter. The protests turned violent and ended injuring three officers. Daniel Prude, 41, lost his life on March 30, a week after h...