Hexion Chemicals to Back out of Huntsman acquisition deal Hexion Specialty Chemicals Inc. is seeking to cancel an agreed $10.6 billion purchase of the U.S.-based chemicals producer Huntsman Corporation. According to Huntsman, the actions “are inconsistent with the terms of the merger agreement and the obligations to Huntsman and its shareholders,” and “appear to…
Chemical companies announce price increases to combat energy costs Several companies such as Dow Chemical, Rohm & Haas, and Huntsman, announced their plans to increase prices for all their products. Dow Chemical Company announced that on June 1 it will raise the price of all of its products by up to 20 percent –…
Total and Saudi Aramco consider the construction of a petrochemicals complex in Saudi Arabia Saudi Aramco and Total are planning to proceed with a previously announced refining and petrochemical project at Al Jubail, Saudi Arabia. The decision follows a comprehensive, joint front-end engineering and design study launched two years ago. The refinery will have…
LyondellBasell to stop PP production at its Morris, Illinois plant LyondellBasell Industries announced that it will stop producing polypropylene at its Morris, Ill. plant in the fourth quarter of 2008. Production will be shifted to other sites. Polyethylene production at the site will not be affected. LyondellBasell currently operates three polypropylene lines in Pasadena,…
Dow Chemical commercializes developmental olefin block copolymers for several applications Dow Chemical announced the widespread availability of nine developmental olefin block copolymers (OBCs), which will be marketed as INFUSE™ OBCs upon commercialization. Customers around the world can purchase large-volume quantities of these developmental OBCs without the requirement for confidentiality agreements. INFUSE OBCs feature unique…
Sahara Petrochemicals Al Jubail and Rohm & Haas to Develop Acrylates Complex in Al Jubail – Chemical Market Resources Inc. – Accomplishment in 18 months – from Concept to Execution Chemical Market Resources Inc is proud to announce the joint venture announcement between Sahara Petrochemicals – Al Jubail and Rohm & Haas to develop…
Rumor mill – “Daulat” – the new name for Dow Chemical JV with Kuwait Petroleum??? There are rumors about the new name for a joint venture between Dow Chemical and Kuwait Petroleum. The new JV Company is rumored to be called Daulat. The word Daulat means wealth and prosperity in Arabic. The joint venture…
Keltic Petrochemicals receives approval to construct a petrochemical complex in Nova Scotia Keltic Petrochemicals Inc. announced its plans to develop, construct, and operate a world-scale petrochemical plant in Goldboro, Nova Scotia. When completed, the facility will consist of ethylene, polyethylene, propylene, and polypropylene plants as well as a supporting cogeneration plant and a receiving…
Dow to strategically evaluate its business portfolio Dow Chemical announced its decision to realign a number of businesses to a newly created business group, Dow Portfolio Optimization. Each of the businesses within the new group has been earmarked for strategic evaluation, with the goal of defining how best to maximize its long-term value to…
My Turn – Dr. Balaji B. Singh – The year for Specialty Polyolefins SPO-FlexPO2008, June 25-27, 2008 Houston/Galveston, TX Comments: The start of New Year heralds a new race for Specialty and value added polyolefins. Chemical Market Resources focused on technology and value added polyolefins since 1990 and has conducted over 40 multiclient studies…