PolyOne Corp. (Cleveland, Ohio; www.polyone.com) announced it has entered into a definitive agreement to sell its Performance Products and Solutions (PP&S) business to SK Capital Partners for $775 million in cash. PolyOne expects to record a pre-tax gain of approximately…
Motiva Enterprises, LLC (Houston; www.motiva.com) and an affiliate of Flint Hills Resources (Wichita, Kan.; www.fhr.com) announced that they have signed an agreement for Motiva to acquire a 100% ownership interest in Flint Hills Resources Port Arthur, LLC. The potential acquisition…
Cemvita Factory Inc. (Houston; www.cemvitafactory.com) and Oxy Low Carbon Ventures, LLC (OLCV), a subsidiary of Occidental Petroleum Corp. (Houston; www.oxy.com), announced that they have reached an investment agreement. OLCV’s investment will advance the development of new bio-engineered pathways that use…
Sumitomo Chemical Co. (Tokyo, Japan; www.sumitomo-chem.co.jp) has signed an agreement with Bharat Petroleum Corporation Limited (BPCL; Mumbai, Maharashtra, India) for licensing its propylene oxide (PO) production technology in connection with the petrochemical project which BPCL is conducting. BPCL is one…
Chevron Lummus Global LLC (CLG), a joint venture between Chevron U.S.A. Inc. (Richmond, Calif.; www.chevron.com) and McDermott, Inc. (Houston; www.mcdermott.com) announced its selection by Compañía Española de Petróleos (CEPSA) to provide licensed technology for its Algeciras Refinery in Spain. CLG…
Sibur's (Moscow; www.sibur.com) Blagoveshchensk site has held a ceremony to celebrate the completed reconstruction of the terephthalic acid production facility, the only one currently in Russia. The attendees included Pavel Sorokin, Deputy Minister of Energy, Radiy Khabirov, Acting Head of the…
Wison Engineering Services Co. Ltd. announced that on August 11, Nanjing Chengzhi Yongqing Energy Technology Co., Ltd.'s new butene-to-butadiene plant, built by Wison Engineering, started up successfully and produced on-spec butadiene. The plant was deployed with Oxidative Dehydrogenation of Butene-to-Butadiene…
Dow (Midland, Mich.; www.dow.com) announced that it has reached an agreement for the divestiture of its Acetone Derivatives business to Altivia Ketones & Additives, LLC, an affiliate of Altivia, a privately held producer of chemicals headquartered in Houston, Texas. “This…
Saudi Aramco (Dhahran; www.saudiaramco.com) and Reliance Industries Limited (RIL; Mumbai; www.ril.com) have agreed to a non-binding Letter of Intent (LOI) regarding a proposed investment in the Oil-to-Chemicals (O2C) division comprising the Refining, Petrochemicals and fuels marketing businesses of RIL. Saudi…
Lanxess AG (Cologne, Germany; www.lanxess.com) is selling its chrome chemicals business to Brother Enterprises, a Chinese leather chemicals producer. Both companies on August 12, 2019 signed a respective agreement. The transaction is still subject to approval by the relevant antitrust…