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North American petrochemical majors that strive to pace investments efficiently, in line with market trends, will boost their competitiveness and seize further opportunities for growth over the long-term, says GlobalData.
Specialty Welding and Turnarounds is a provider of specialty welding and other highly technical services to the oil and gas refinery, biodiesel, petrochemical, and industrial markets.
SIBUR and Sinopec will hold interests in the JV in the amount of 60% and 40%, respectively.
The acquisition consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 joint ventures.
Lotte Chemical, LG Chem and YNCC are set to restart their naphtha crackers in December and January.
The process technology will be used for a 400 000 tpy polypropylene unit to be built in Svobodny, Amur region, Russia.
Neste has said that it has successfully processed 400 t of liquefied plastic waste at its refinery in Finland this autumn.
As part of the transaction, Petroleum Service Corp. will absorb Fryoux's tankerman operations along the US Gulf Coast.
The company's Refining capital budget includes US$521 million of sustaining capital for reliability, safety and environmental projects.
NuStar Energy LP has announced that it has closed on the sale of its terminals in Texas City, Texas, US, to BWC Terminals for US$106 million.
With the US$69 billion acquisition of SABIC in June and investments in oil-to-chemicals technology, Aramco has positioned itself for downstream growth.
Kaijin Blue Sky Energy is building a facility in Wenzhou, Zhejiang Province, China, using LyondellBasell's polypropylene technology.