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Hi there guys!
I'm going to try a different format of newsletter; I'll be sending more e-mails per month, but with shorter content.
The idea is that you have a shorter time reading it. Make no worries, the content will be the same:
Monthly Newsletter Content (divided in 2-3 e-mails)
- Chemical Industry News
- Chemical Industry Stocks & Markets
- Industry/Company/Equipment Insight
POLL About Images in e-mail:
Do you prefer "flat" e-mails, without images? (click only one link)
Chemical Industry News
The News
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LyondellBasell buys into Saudi polypropylene plant
- LyondellBasell Industries is acquiring a 35% stake in Natpet (National Petrochemical Industrial Company) for $500 million from Saudi conglomerate Alujain.
- Natpet, based in Yanbu, Saudi Arabia, runs a polypropylene plant with a capacity of 400,000 metric tons per year.
- LyondellBasell and partners are exploring the potential construction of an integrated propane dehydrogenation and polypropylene complex at the Natpet site. (read more)
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Chevron Lummus Global and Hongrun Petrochemical commission world’s largest all-hydroprocessing white oil unit
- Chevron Lummus Global LLC (CLG) has successfully commissioned the world’s largest white oil hydroprocessing unit for Hongrun Petrochemical in Weifang, Shandong Province, China.
- The new plant, utilizing CLG’s ISODEWAXING and ISOFINISHING technologies, includes a 500,000 MTPA API Group III lubricating base oil unit and a 200,000 MTPA food-grade white oil unit.
- The project positions Hongrun as a leading manufacturer of premium white oil and food-grade white oil products in China.
- White oil, a highly refined mineral oil, has diverse applications in pharmaceuticals, cosmetics, food processing, and industrial lubricants.
- CLG's hydroprocessing expertise and commitment to innovation played a crucial role in helping Hongrun achieve its production objectives, demonstrating the effectiveness of CLG’s all-hydroprocessing technology route for base oil production. (read more).
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Dow Earns ISCC PLUS Certification
- Dow has achieved International Sustainability and Carbon Certification (ISCC) PLUS certification at its propylene oxide/propylene glycol and polyols manufacturing site in Freeport, Texas.
- The certification recognizes Dow's commitment to sustainability by using waste-sourced feedstock and implementing a circular approach, verified through an independent audit.
- ISCC is an international certification standard for traceable and sustainable supply chains, aligning with Dow's goal to manufacture products with circular and bio-circular feedstocks.
- The ISCC PLUS certification validates Dow's efforts to reduce its carbon footprint and supports the production of polyurethane products for various markets, including automotive, construction, consumer, food, fragrances, pharmaceutical, and industrial sectors. (read more)
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ADNOC Increases Bid to €11.3 Billion for Covestro
- ADNOC plans to increase its bid for Covestro, a German chemical company, to diversify beyond oil and gas.
- Talks with Covestro began in June, signaling a shift from ADNOC's traditional focus in the energy sector.
- The current bid is around €60 per share, valuing Covestro at approximately €11.3 billion ($12.4 billion).
- This move aligns with ADNOC's global expansion strategy, as evidenced by its recent bid for OCI's Fertiglobe stake.
- ADNOC is willing to invest about €7.97 billion ($8.72 billion) post-acquisition, showcasing commitment to the new direction.
- Negotiations are ongoing, and the updated bid submission might be delayed until 2024. (read more)
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Lanxess to develop iron oxides for lithium iron phosphate
- Lanxess, a German chemical maker, collaborates with battery materials firm IBU-tec to develop iron oxides for lithium iron phosphate (LFP) production.
- LFP is a cost-effective cathode material, often produced by Chinese firms using iron sulfate from the titanium dioxide industry.
- Lanxess, known for iron oxides in various applications like pigments, aims to create a stable European supply chain for LFP as demand rises.
- The focus is on developing battery-grade iron oxides to support the growing demand for LFP in the European market. (read more)
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Lilly Completes $1.4 Billion Acquisition of Point Biopharma
- Eli Lilly has completed its $1.4 billion acquisition of Point Biopharma, focusing on next-gen radioligand therapies for cancer.
- The tender offer of $12.50 per share in cash concluded on Dec. 22, 2023, with no extension.
- Jacob Van Naarden, EVP and President of Loxo (Lilly's oncology unit), is eager to collaborate and develop new therapies.
- The acquisition enables Lilly to work on advancing radioligand therapies for improved cancer outcomes. (read more)
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Linde starts up supply of clean hydrogen and captured carbon dioxide to Celanese
- Linde is expanding its long-term agreement with Celanese, supplying additional carbon dioxide for chemical production.
- Celanese aims to lower the carbon footprint by utilizing emitted carbon dioxide in the production of methanol.
- The expansion supports Celanese's efforts to reduce the carbon intensity of its products.
- Linde, a leading industrial gases company, invests in its Clear Lake facility to facilitate cleaner chemical production, aligning with its commitment to decarbonization. (read more)
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Solvay and Huatai Expand Hydrogen Peroxide Capacity in China
- Solvay is expanding hydrogen peroxide capacity at its Shandong Huatai Interox Chemical site in China to meet growing demand from the photovoltaic industry.
- The joint venture with Huatai Chemical aims to produce 48 kt of photovoltaic-grade hydrogen peroxide annually by 2025.
- The expansion aligns with China's carbon neutrality targets, contributing to Solvay's role as a key player in the high-purity hydrogen peroxide market.
- The collaboration emphasizes innovation, sustainability, and support for China's carbon neutrality goals, strengthening the position of both Solvay and Huatai Chemical in the renewable energy sector. (read more)
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SABIC to Invest $6.4 Billion in Joint-Venture Chemical Plant
- SABIC has finalized its investment plans for a joint-venture petrochemical complex in China's Fujian province.
- The investment of approximately RMB 44.8 billion ($6.4 billion) in SABIC Fujian Petrochemicals Co. is a 51:49 joint venture with Fujian Fuhua Gulei Petrochemical Co.
- Considered a centerpiece of SABIC's investment in China, the complex includes a mixed feed steam cracker and downstream facilities, with expected completion by 2026.
- The project is regarded as the largest foreign investment in Fujian and signifies a key milestone for SABIC's joint ventures, following the successful operation of a new polycarbonate plant in the SINOPEC SABIC Tianjin Petrochemical Co. joint venture in 2023. (read more)
Short News:
- Linde to invest $60M in new ASU for Indian steelmaker
- Ascend Elements targets 90% carbon footprint reduction by 2030
- Ganfeng Lithium to supply battery materials to Hyundai Motor
- Coolbrook ticks off successful pilot e-cracker test using naphtha
- BASF enters license agreement with Lubrizol for selected industrial lubricants
- Laxmi Organics registers slight drop in profit
- Synthomer expects 2023 revenue to decline on lower volumes, challenging economic conditions
- Advanced Petrochemical to shut propylene, PP plants at Jubail for maintenance
- Elkem achieves high CO2 capture rates at pilot CCS in smelter
- Formosa wins appeal, removing one hurdle to $9.4B project in Louisiana
- Earnings rise at Ineos olefins, polymers business despite weak Q4 demand, margins
- Chemtrade expects adjusted EBITDA to dip in 2024
- South Korea’s toluene exports rise in 2023
- Aramco injects additional $4B into global venture capital program
- Loop in $66M funding, JV deal for plastics recycling tech roll out in Europe
Final thoughts
The trends in the chemical industry news indicate a dynamic landscape marked by strategic investments, technological advancements, and a strong focus on sustainability.
LyondellBasell's acquisition of a stake in Natpet reflects a strategic move for global expansion, potentially involving an integrated propane dehydrogenation and polypropylene complex.
Chevron Lummus Global's commissioning of the world's largest all-hydroprocessing white oil unit for Hongrun Petrochemical signifies a commitment to innovation and the production of premium white oil products.
Dow's ISCC PLUS certification underscores the industry's increasing emphasis on sustainability and circular feedstocks.
ADNOC's increased bid for Covestro showcases a strategic realignment beyond oil and gas. Collaborations between companies like Lanxess and IBU-tec for lithium iron phosphate and Solvay's expansion in China highlight the industry's dedication to supporting renewable energy and electric vehicles.
SABIC's investment in China's Fujian province marks a significant milestone, signifying the largest foreign investment in the region and emphasizing the importance of international collaborations.
Overall, these trends depict a resilient and forward-looking industry that embraces innovation, sustainability, and strategic partnerships to navigate the evolving global landscape.
See you next month!
Is there anything in especial that you liked the most? Just reply to this e-mail and let me know!
My best wishes!
Emmanuel Ortega
a.k.a. Chemical Engineering Guy
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