The product is being manufactured at the company’s existing plant at Ankleshwar, Gujarat, after obtaining all the necessary statutory approvals and permissions.
The operations will resume from 4th May, 2020 in accordance with the formal permissions from concerned government authorities.
After the approval, the oil-to-chemical (O2C) business will become a separate vertical with independent balance sheet just like the conglomerate’s digital arm, Jio Platforms.
The company said that it is donating $1.5 million in monetary and in-kind product donations in the Americas region to assist those most impacted during the COVID-19 pandemic.
FY20 revenue from the Refining & Marketing segment declined by 1.6% to Rs. 387,522 crore; revenue from the Petrochemicals segment decreased by 15.6% to Rs. 145,264 crore whereas revenue for the Oil & Gas segment decreased by 35.8% to Rs. 3,211 crore.
Revenues for the Refining and Petrochemicals business declined in line with fall in average oil and product prices for the year. Average Brent oil price declined 13% Y-o-Y, while realisations for key petrochemical products declined by 15%-32% Y-o-Y.
This effort from the company will help support frontline health care providers in the fight against COVID-19
The proposed Rights Issuance will be the first by RIL in three decades. The issue will be structured as partly paid shares and will enable shareholders to phase out the outlay on their investment over a period of time.
The study concluded that high performance multigrade hydraulic oil (HVLP) has a lower environmental impact and lower overall cost than monograde hydraulic oil (HLP).
The company announced that it has successfully adapted its facilities in the U.S. to manufacture hand sanitizers to help protect people from Covid-19 infection.
The COVID-19 pandemic impact has devastated crude oil demand as the majority of the end user industries are witnessing a slowdown amid lockdowns.
The company today announced it has completed the divestment of selected non-core assets in Northern Europe to Gasum, a Nordic gas sector and energy market expert.
LANXESS today said that it has completed the sale of its 40 percent stake in chemical park operator Currenta to Macquarie Infrastructure and Real Assets (MIRA).
With this expansion, Seqens' global annual production capacity of IPA will increase by more than 70%
HOEC has announced the successful drilling, completion and testing of its second sub-sea well through a jack-up rig, named well D-1 located in Mumbai Offshore.
The company has mobilized its production facilities to manufacture medical materials and components and products that can be used to build makeshift hospitals.
The company’s sites in Muskegon, Michigan, and Seelze, Germany, will produce hand sanitizer over the next two months for government agencies, which will then distribute the product to institutions in need. Both sites are part of Honeywell’s Performance Materials and Technologies (PMT) business group.
The vaccine will be based on recombinant avian paramyxovirus based vector platform. The recombinant avian paramyxovirus-1 will be used to express the immunogenic protein of SARS-CoV-2.
The operations have commenced basis importance of lubricants to help major manufacturing plants to run smoothly.
The minister called upon the exporters to identify their strengths, potentials and competitive advantages in specific sectors and focus on harnessing them in the world markets.
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