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Speciality Polymers Antwerp site in Zwijndrecht, Belgium

Borealis does deal for Belgian firm

Polyolefins producer Borealis has signed an agreement with DuPont Holding Netherlands to purchase the company's 67 per cent shareholding in Belgium firm Speciality Polymers Antwerp.

INEOS to own Styrolution outright

Petrochemical producer INEOS has agreed to acquire BASF's 50 per cent share in Styrolution, a styrenics joint venture between the companies, for €1.1 billion (US$1.5bn).

Corn oil expansion in Saudi

Saudi Arabian corn oil brand Mazola is expanding plant capacity by 400 per cent, according to national reports.

Mohamed Al-Mady, SABIC chief executive (right), and Ja-Young Koo, SK Innovation chief executive, sign the joint venture agreement

Advanced packaging JV signed

SABIC and the Korean petrochemical company, SK Global Chemical, have signed a 50-50 joint venture agreement in Seoul, South Korea - for a total investment of US$595 million - to manufacture a range of high-performance polyethylene products using SK’s Nexlene solution technology.

Polium joint venture established in Omsk

Gazprom Neft, SIBUR and Titan Group have signed an agreement to establish a joint venture based on Omsk Polypropylene Plant (Polium). As part of the deal, Sibgazpolimer, a joint venture of SIBUR and Gazprom Neft (each having a 50 per cent stake), acquired a 50 per cent stake in Poliom from Titan Group.

Hedge fund urges Dow to spin-off petrochemicals business

US-based hedge fund, Third Point LLC, has paid upwards of $1.3 billion for a significant stake in Dow Chemical Company and wants the company to spin-off its petrochemical division.

Repsol restarts enhanced cracker

Chemical firm Repsol has restarted its cracker in Tarragona, Spain, having shut it down in October in order to invest €95 million (US$129m) in maintenance and technical improvements.

Ineos petrochemical plant saved

The Unite union has confirmed that a survival plan has been agreed for the Ineos Grangemouth petrochemical plant, saving 800 jobs at the Scottish plant.

Ineos closure would not reverse trend, says Moody’s

The closure of the Grangemouth petrochemical site in Scotland would not reverse the negative utilisation trend in Europe's ethylene sector, claimed Moody's in a statement released yesterday.

Braskem's booth at K'2013

Mexican debut for US shale gas

Brazilian petrochemical firm, Braskem, is building a complex in Veracruz, Mexico, which it claims will be the first petrochemical project to benefit from shale gas from the US.

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