Petrochemicals

Braskem has announced a project to evaluate an investment in producing carbon-negative, bio-based polypropylene in the US.

weavix™ has announced a US$10 million Series A funding round from Koch Disruptive Technologies, the growth and venture arm of Koch Industries.

BASF has broken ground on the third and final phase of the methylene diphenyl diisocyanate (MDI) expansion project at its Verbund site in Geismar, Louisiana, US.

Asia is set to lead the global ethylene industry capacity additions with a share of 60% by 2030, as it gains capacities from new-build and expansion projects between 2022 and 2030, says GlobalData.

The EPC contract relates to a polyethylene plant and associated facilities, as part of the new polymers complex to be built in Ras Laffan Industrial City, in Qatar.

QatarEnergy and Chevron Phillips Chemical Company have announced that they will proceed with the construction of a US$6 billion integrated polymers complex in Ras Laffan Industrial City, Qatar.

SABIC, OQ and KPI have signed a Project Development Agreement for a jointly owned petrochemical complex in the Special Economic Zone in Duqm, Oman.

INEOS and SINOPEC have announced that they have completed two of four significant petrochemical deals announced in 2022.

Maire Tecnimont's subsidiary, Tecnimont S.p.A., has been awarded an EPC contract relating to the implementation of a petrochemical project.

ADNOC and Mubadala have announced a transaction involving OMV, a global energy and chemicals group. Under the agreement, ADNOC will acquire a 24.9% shareholding in OMV from Mubadala.

Lummus Technology has been awarded a contract by Zhangzhou CHIMEI Chemical Co. Ltd. for digitalisation services at the company's petrochemical facility in Gulei, Fujian Province, China.

The companies are exploring collaboration across refining and petrochemical projects in China and Saudi Arabia.

The rating puts INEOS into the top 8% of companies in the sector demonstrating an advanced management system in terms of environment issues, ethics, labour and human rights, and sustainable procurement.

Asia is set to lead the global acrylonitrile industry capacity additions with a share of 99.6% by 2026 from new-build projects between 2022 – 2026, forecasts GlobalData.

Shandong Yulong Petrochemical Co. Ltd has selected EST, which Chevron Lummus Global licenses, for a slurry residue hydrocracking unit in Shandong Province, China.