Petrochemical | 01 August 2020
Asian completes first phase of Cambay 2D work for Vedanta
The company is also in the process of submitting bids for Oil India and ONGC tenders.
The company is also in the process of submitting bids for Oil India and ONGC tenders.
Decline due to lower price realizations with disruptions in local and regional markets amid Covid-19 outbreak.
Lower crude oil price and lower throughput key reasons for revenue decline.
The decline in revenue was primarily due to fall in O2C revenues, led by sharp decline of 57.6% in average Brent crude price.
The collaboration will jointly address technologies to propagate use of biofuels in variety of applications including usage in internal combustion engines (ICE) in the transportation sector.
The company said it intended to issue the new bond within the next 12 months.
Sales stood at Rs 1,179 crore versus Rs. 2,016 previous year
The new milestone was achieved as a result of successful waste reduction projects undertaken by chemical companies in the region in line with their commitment to sustainability and the circular economy.
The sale should be finalised by the end of the year, once the conditions of the sale have been satisfied.
The JV will set up manufacturing units across the country with cost-effective logistics solutions, keeping innovation, safety and sustainability at the helm of its operations.
Hengli can now produce high-quality alkylate product from 100% isobutylene feed.
Sales decline 62.08% to Rs 292.27 crore
The UOP Chlorsorb technology achieves up to 99% chloride removal efficiency, eliminates the need for caustic scrubbing, and reduces operating cost of a CCR Platforming unit.
The $250 million storage facility will be developed in two phases by creating multiple caverns in the existing underground salt formation.
The 5 barrel per day (bbl/d), first-of-its-kind demonstration unit, employs the Biofuels ISOCONVERSION technology, jointly developed by CLG and ARA, to produce renewable jet fuel and renewable diesel out of an algae oil blend and waste vegetable oil.
The plant will be designed to produce 450,000 metric tons per year (m.t./yr) of polypropylene.
The company’s downstream operating model will include four commercial business units: Fuels (includes Refining, Trading, Retail and Lubes); Chemicals; Power; and Pipelines, Distribution & Terminals.
The venture will be using polymers products as raw materials promoting sustainability and downstream initiatives.
Company is planning to shut down one of the crude distillation units at its refinery at Jamnagar for planned routine maintenance and inspection activities, for about 3 to 4 weeks starting in the 4th week of July, 2020.
The company said its third quarter aggregate sales volumes are anticipated to be down 8% to 15%, differing by business and region.
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