Top Chemical News from ChemNet.

China: Shandong Hongye to Launch PU Resins Project in Late August Aug 12,2010

Shandong Hongye Chemical Industrial Group announced recently that its sole resin and PU resin project successfully finished commissioning in early August and was predicted to launch in the end of August. According to relevant person in the company, the project would consume 40 thousand tons adipic acid per year, almost 29% of the company’s ...>>>

China: Cangzhou Dahua Reported Sharp Growth in TDI Profit in H1, 2010 Aug 12,2010

Hebei Cangzhou Dahua Co. Ltd. reported first-half 2010 results last Thursday. Operating revenue was up by 36% year-on-year to Rmb 1191 million while net profit rose to Rmb 62.12 million, up by 16% compared with the same period last year, with earning per share of Rmb 0.24. In the first half of this year, production and sales volume of urea...>>>

Chemtura Reveals Plan to Finance Bankruptcy Exit Aug 12,2010

Chemtura Corp. plans to offer “$450 million in aggregate principal amount of unsecured senior notes due 2018,” the company said Aug. 9. The proposed offering is part of Chemtura’s exit financing package in line with its Chapter 11 plan of reorganization, if the plan is confirmed by the US bankruptcy court. A hearing is scheduled for Sept. 16....>>>

China: PetroChina Jinxi Petchem to refine 42% less crude oil in Aug Aug 12,2010

PetroChina Jinxi Petrochemical set crude oil throughput target for August at 290,000mt, slumping 42% from the previous month, a source with the refinery said. The refinery shut a 1.5-mil-mt/yr coker for 45-day maintenance on Aug 1, the source said. It plans to revamp a 3-mil-mt/yr crude distillate unit a 1-mil-mt/yr fluid catalytic cracke...>>>

China: PetroChina Daqing refinery cuts Aug crude oil throughput target by 53% on turnaround Aug 12,2010

PetroChina Daqing refinery plans to refine 290,000mt of crude oil in August, sharply down 53% from the previous month, according to a refinery source. The refinery would start overhauling all of its units from Aug 17, expected to last 45 days, the source revealed. Daqing refinery, located in Northeast China's Heilongjiang Province, has a topp...>>>

China: Guangdong minor refineries still plagued by deep refining losses Aug 12,2010

Minor refineries in South China's Guangdong Province still suffered from steeply negative refining margins on stable feedstock costs and product prices, a survey found. The margin was minus Yuan 216/mt on average in theory Wednesday, flat with one week ago, versus minus Yuan 288/mt a year earlier, it's estimated. Ex-terminal prices of hig...>>>

Australian oil industry acting on lessons of Montara spill: APPEA Aug 12,2010

Australia's oil and gas industry has undertaken comprehensive reviews of its practices and operations in response to last year's oil spill and rig fire at PTT Exploration and Production's Montara well in the Timor Sea, the head of the local upstream industry association said Wednesday. Applying the lessons learnt from the Montara incident...>>>

ExxonMobil says no plans to exit Qatar Ras Laffan petrochemical JV Aug 12,2010

ExxonMobil has denied media reports that said the major was exiting its joint venture petrochemical project with Qatar Petroleum at Ras Laffan in Qatar. "We signed a heads of agreement with Qatar Petroleum in January 2010 to progress the joint development of a world-scale petrochemical complex, and we continue to work with Qatar Petroleu...>>>

Asia PE producers sell Sep cargoes ahead of Northeast Asian holidays Aug 12,2010

Asian polyethylene producers are starting to offer cargoes earlier than usual in anticipation of a slowdown in demand end-September and early October when the Chinese market will be closed for two holidays, market sources said this week. Southeast Asian producers, in particular, have started to offer September cargoes to China. A major So...>>>

Dow Announces Polyolefin Elastomers Expansion Aug 12,2010

The Dow Chemical Company (Dow) announced today a technology breakthrough project that will increase polyolefin elastomers manufacturing capacity at its production facilities in Freeport, Texas, (U.S.A.) and Tarragona, Spain. The capacity expansions, in conjunction with SCG-Dow Group’s new world scale specialty elastomers plant in Thailand, which is...>>>

INDIA CEO SERIES: Retail gas, LNG by trucks, hydrogen figure in H-Energy's growth vision May 17,2021

　　Singapore—The S&P Global Platts India CEO Series is a compilation of exclusive interviews with the leaders of top oil and gas companies in India. Get insights on how they are planning their growth roadmap at a time when energy transition is changing the industry's landscape, how companies are finding their way through the COVID-19 pandemic, as...>>>

China solicits public opinion to protect polluted lake Jun 07,2010

BEIJING, June 3 -- A draft regulation on the protection of water resources and ecological environment of the Taihu Lake, the third largest freshwater lake in China, was made public Wednesday to solicit opinions.According to the draft posted on the website of the State Council's Legislative Affairs Office, www.chinalaw.gov.cn, local author...>>>

Chemical lab blast occurs in northeast China city Jun 10,2010

DALIAN, June 9 -- A blast occurred at a chemical lab in northeast China's Liaoning Province Wednesday, causing no casualties.The explosion happened at a laboratory warehouse of the Dalian Chemical Physics Institute under the Chinese Academy of Sciences in Dalian City at around 1:40 p.m., said a man in charge of the security of the i...>>>

Devon Promotes Richels to Chief Executive Officer Jun 10,2010

June 9 -- Devon Energy Corp., the second- largest independent U.S. oil company by market value, promoted President John Richels to chief executive officer and said co- founder J. Larry Nichols will stay on as executive chairman. Richels, 59, has been president since 2004 and has served on the company’s executive committee since 1998, Oklahoma ...>>>

U.S. to engage with China to expand economic benefits: Geithner Jun 11,2010

WASHINGTON, June 10 -- U.S. Treasury Secretary Timothy Geithner said Thursday the U.S. would continue to engage forcefully with China to expand the economic benefits of the relationship for American workers and companies. "China is fast on its way to becoming the world's second largest economy and could potentially become the largest foreign mar...>>>

Papandreou Unwinds Greek Socialist Past to Confront Corruption Jun 11,2010

June 11 -- Socialist Prime Minister George Papandreou promised to undo decades of welfare policy to win an international bailout for Greece. Keeping the lifeline will force him to reverse another legacy left by past leaders, including his father: corruption and a bloated bureaucracy. Papandreou has promised“clean hands”to win public support for...>>>

Sipchem Announces the Commercial Start-up of Carbon Monoxide and Acetic Acid Plants Jun 11,2010

The Saudi International Petrochemical Company (Sipchem) announced the commercial start-up of two its Acetyls Complex plants in Jubail Industrial city on Saturday 5 June 2010, namely, the Carbon Monoxide plant with an annual production capacity of 345,000 tons and the Acetic Acid plant with an annual production capacity of 450,000 tons. The Carbon M...>>>

Santos in Talks with Sinopec About LNG Project, Australian Says Jun 11,2010

June 11 -- Santos Ltd. is in talks with China Petroleum & Chemical Corp. about a potential A$400 million sale of a stake in its Queensland liquefied natural gas project, the Australian newspaper said. A senior team from Santos, which owns 60 percent of the Gladstone LNG joint venture with Malaysia’s Petroliam Nasional Bhd, was seen Jun...>>>

Workplace Regulator Wary of "Sloppiness" in BP Spill Cleaning Jun 11,2010

June 10 -- Workplace inspectors are monitoring BP Plc’s cleanup of oil from Gulf Coast shores for signs of“sloppiness”that would expose workers to hazards, the head of the U.S. Occupational Safety and Health Administration said. “We are prepared to issue citations if we see hazards,”OSHA chief David Michaels said yesterday in a telephone interv...>>>