Downstream petrochemical news

At the Invest Zambia International Conference, the Industrial Development Corp. (IDC) has signed two memoranda of understandings (MoUs) worth over US$2 billion, securing major investments in Zambia’s energy sector.

Licella has announced strategic funding from Diamond Edge Ventures (DEV), the corporate venture capital arm of Mitsubishi Chemical Group (MCG), a Japanese chemical company, under a Business and Capital Alliance Agreement.

INEOS has completed a major £30 million investment at its Hull manufacturing site, UK, which has resulted in a 75% cut in carbon emissions.

CF Industries Holdings, Inc. has announced the start up of the carbon dioxide (CO2) dehydration and compression facility at its Donaldsonville Complex in Louisiana, US.

INEOS Styrolution, a provider of styrenics, has commercialised its 100% bio-attributed polystyrene, Styrolution® PS 158K BC100.

Singapore-based petrochemicals, green energy, and natural resources conglomerate, ChemOne Group, has announced a significant milestone in the financing of the Pengerang Energy Complex (PEC) in Malaysia.

bp has reached an agreement to sell its mobility and convenience and bp pulse businesses in the Netherlands to Catom, part of bp’s previously announced divestment programme.

The European Commission has presented an Action Plan for the chemicals industry to strengthen the competitiveness and modernisation of the EU chemical sector.

Braskem has completed the sale of circular polyethylene (PE), produced through chemical recycling, to the Copobras Group.

Petrobras has announced that investments totalling approximately R$33 billion are planned for refining and petrochemical projects in Rio de Janeiro, Brazil.