Get a snapshot of the top industry news from the Asia Pacific by email every two weeks. Subscriptions available here.
Source: Reuters, 27 October 2011
Shell's largest refinery will return to normal in November-December, the company said at a briefing in London, adding that the fire and resulting shutdown cost it about $150 million in the fourth quarter.
With the restart, the plant's three crude units will be operating at a combined capacity of about 259,000 bpd, or 52 percent of capacity. "That's about as far as the plant can go, for the near term at least, and any further ramp-up will be very gradual from here until major repairs to the fire-damaged areas are completed," a refining source said.
Source: CommodityOnline, 28 October 2011
BASF and Ji’Ning Hock Mining & Engineering Equipment Company Limited have received approval from all relevant antitrust authorities in China for the formation of BASF Hock Mining Chemical (China) Company Limited.
BASF, the world’s leading chemical company, takes a 75% majority stake in the new venture. The company will continue Hock’s existing business activities in the field of chemical injection and cavity filling products for Coal mining and other underground applications. “With this investment BASF demonstrates its long term commitment to the underground construction and coal mining industry on a global basis. We will bring our best technologies to the industry in China and around the world,” said Dr. Tilman Krauch, President Construction Chemicals at BASF.
Source: The Wall Street Journal, 31 October 2011
DuPont Co. is looking to sell its performance coatings unit as part of the diversified manufacturing company's shift away from its roots as a producer of commodity chemicals.
The company has hired Credit Suisse Group AG to seek potential buyers for the division, according to a person familiar with the matter. The division produces paints for the auto and truck sectors, where sluggish demand and soaring raw material prices have left margins running at half the level of the company's five other core divisions.
Visit our Chemicals practice