Petrochemical | 04 May 2020
Neste closes acquisition of Mahoney Environmental
The acquisition has been approved by regulatory authorities, and the deal has been closed.
The acquisition has been approved by regulatory authorities, and the deal has been closed.
The product is being manufactured at the company’s existing plant at Ankleshwar, Gujarat, after obtaining all the necessary statutory approvals and permissions.
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.
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 COVID-19 pandemic impact has devastated crude oil demand as the majority of the end user industries are witnessing a slowdown amid lockdowns.
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 operations have commenced basis importance of lubricants to help major manufacturing plants to run smoothly.
Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited (RIL) has increased its stake in SkyTran from 17.37% to 26.31% on a fully diluted basis.
The company has started manufacturing operations of both its plants situated at Nagothane, Amdoshi, Raigad-Maharashtra and Manali, Chennai-Tamilnadu.
Wood will provide integrated services to Sasol from feasibility studies and front end engineering design, through to engineering, procurement and construction
The company announced that it will invest about 65 billion KRW ($54 million) by Q1 of next year to expand production of carbon nanotubes (CNT) by 1,200 tons at the company’s Yeosu plant.
Company's Jiading plant in Shanghai scales up production of waterborne coatings to meet customer demand for environmentally responsible products across southern and eastern China.
The order has a value of approximately SEK 95 million. It is booked in the Welded Heat Exchangers unit and the Gasketed Plate Heat Exchangers unit of the Energy Division, with delivery scheduled for 2021.
Lenzing AG and Palmers Textil AG have founded a new joint entity for producing and selling protective masks for the domestic and European markets beginning in May 2020
The company is taking up production as per requirements primarily to supply customers in the essential categories. This permission is valid till national lockdown date of 3rd May, 2020.
The four-year contract covers new gas turbine parts, component repair, maintenance and field services for a Frame 6B Gas Turbine.
Reflecting recent significant market volatility and oil price falls, BP and Hilcorp have successfully renegotiated the financial terms of the deal to respond to the current environment.
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