DL Chemical plans to shut down Yeochun NCC No. 1 plant under restructuring
DL Chemical, a South Korean petrochemical firm, announced on?Monday the closure of?Yeochun NCC Co.'s No. According to an emailed announcement, the No. 1 plant with a capacity of 900,000.000 metric tonnes should be closed as part of a restructuring plan.
VCI Germany expects the chemical industry to stagnate by 2026
VCI, the German chemicals lobby group, expects sales and orders to stagnate in 2019. This is due to high regulatory uncertainty, uncompetitive manufacturing costs and a long approval process. The ?association, which represents around 2…
Germany's VCI predicts a "difficult road" and a stagnant chemical industry in 2026
VCI, the German chemicals lobby, expects that orders and sales will stagnate by 2026 due to high regulatory uncertainty, uncompetitive?production costs, and slow approval process. The ?association, which represents around 1…
Industry group: China's coal demand will fall for the first time in 8 years.
An industry group said that China's coal usage is expected to decline for the first time since 2017, as the power sector reduces its use. However, consumption could grow modestly next year. The China Coal Transportation…
Sources say Exxon will permanently close one steam cracker plant in Singapore by March.
Four sources familiar with the situation said that ExxonMobil will cease operations in March at the older steam cracker on Singapore's Jurong Island. This is part of the global trend of the petrochemicals industry to reduce capacity due to losses.
Exxon freezes plans for major hydrogen plant amid weak customer demand
Exxon Mobil has halted plans to build one of the largest hydrogen production plants in the world due to low customer demand, CEO Darren Woods said in an interview with Business Insider on Friday. The project's suspension…
China's first coal-to-chemicals project with green hydrogen begins commercial operations
According to a report by state-run CCTV, China's first project for coal-to chemicals that integrates green hydrogen began commercial operations on Friday. Cao Guoan, station manager at CCTV, said that the project, operated…
VCI, the German chemicals lobby, says that despite a weak third quarter, there is no sign of a turnaround for the sector.
VCI, the industry lobby, said that Germany's chemical sector saw a drop in production, sales, and prices during the third quarter. The industry is still under pressure due to overcapacity and high operating costs, as well as a challenging economic climate.
Analysis finds that China's CO2 emission hasn't increased in 18 months.
Carbon Brief's analysis found that China's carbon dioxide emission was flat on an annual basis in the third quarter. This extends a streak of 18 months with flat or declining emissions. Lauri Myllyvirta, of the Centre for Research on Energy and Clean Air in Helsinki…
PetroChina will phase out 19 old chemical and refining units to reduce sector glut
Analysts say that PetroChina, a state-owned company, plans to permanently close 19 aging refining and chemicals units in order to reduce overcapacity. This is part of Beijing’s campaign to boost profitability and curb the country’s overcapacity.
Singapore allocates more land to green energy and data centre park
Singapore has allocated more land to its manufacturing hub Jurong Island for renewable energy and data centres, according to a statement released by the Singapore Economic Development Board (SEDB) and JTC Corporation on Monday.
Singapore allocates more land to green energy and data centre park
Singapore has allocated more land to its manufacturing hub Jurong Island for renewable energy and data centres, according to a statement released by the Singapore Economic Development Board (SEDB) and JTC Corporation on Monday.
Brookfield invests $5 billion in Bloom Energy to support fuel cells for AI data centers
Brookfield Asset Management announced on Monday that it would invest up to five billion dollars in Bloom Energy fuel cell technology for data centers. Companies are looking to cleaner energy sources to meet the demands of artificial intelligence.
The United States has experienced a number of deadly industrial accidents this century
Officials said that multiple people died in an explosion at a military explosives facility in Tennessee on Friday. They also reported the absence of 19 other people. Here are some of the most notable industrial explosions…
US Imposes Sanctions on Oil Refineries and Purchases
The U.S. imposed sanctions on about 100 individuals, entities and vessels, including a Chinese independent refinery and terminal, that helped Iran's oil and petrochemicals trade, the administration of President Donald…
Eni wants to build a biorefinery and recycling plant in Sicily
Eni, an Italian energy company, announced on Thursday that it has begun the environmental approval process for the transformation of its industrial site at Priolo in Sicily into a biorefinery, and a chemical recycler plant for plastics.
Shell to suffer a $600m loss due to Rotterdam Biofuels Project Cancellation
Shell said Tuesday that it expects to take a $600-million hit from the abandonment of its Rotterdam biofuels project. However, it also noted higher production of liquefied gas and improved gas trading results. Shell approved the development of an 820…
Japan's conventional solar stock tumbles after Takaichi victory
After a party vote that positioned Sanae Takaichi as the next Prime Minister, shares of the Japanese renewable energy company Renova fell more than 11% Monday. The sudden drop was a result of speculation that the Liberal Democratic Party's (LDP) new leader…
Occidental reduces debt by selling Berkshire's chemicals unit for $9.7 billion
Occidental Petroleum announced on Thursday that it will sell OxyChem, its chemicals division, to Warren Buffett’s Berkshire Hathaway, for $9.7 Billion. This is the largest divestment to date to reduce debt following years of expensive acquisitions.
Occidental CEO: Chemical divestiture to improve core oil and gas business
CEO Vicki Hollub said in an interview with the Associated Press on Thursday that Occidental Petroleum would be better positioned to invest in the core oil and natural gas business following the divestiture of a chemical unit.