Petrochemicals

ADNOC to buy German chemicals firm Covestro for $16 bn

02 Oct 2024

Abu Dhabi National Oil Company (ADNOC) has agreed to acquire German chemicals company Covestro in a deal valued at 14.7 billion euros ($16.3 billion)

GAIL to invest Rs60,000 cr for setting up a 1,500-KTA ethane cracker in MP

17 Jun 2024

GAIL (India) Limited plans to invest around Rs60,000 crore to set up a 1,500 KTA ethane cracker, perhaps the largest in India, at Ashta in Sehore district of Madhya Pradesh.

LyondellBasell weighs divestment of European business

10 May 2024

Petrochemicals giant LyondellBasell is moving ahead with plans to divest its vast petrochemicals business in Europe, as part of the company’s plan to divest non-core assets.

India’s core sector output expands by 6.7% in February

01 Apr 2024

Core sector industrial production in India expanded by 6.7 per cent in February 2024, on the back of increased production of coal, natural gas, cement, steel, crude oil, electricity and petroleum refinery products, provisional figures released on Thursday showed.

Russian crude ships change course amid concerns over oil payments

02 Jan 2024

Several vessels transporting crude oil from Russia, previously idling off the coast of India, are now changing their course eastward, raising concerns about oil payments to Moscow and resulting in a decline in arrivals.

ExxonMobil hands over operations of Iraqi oil field to PetroChina

02 Jan 2024

US oil giant ExxonMobil has exited the West Qurna 1 oilfield in southern Iraq and handed over its operations to PetroChina as the principal contractor, reports citing an Iraqi deputy oil minister said on Monday.

Brazil's Petrobras brings a third floating platform into production

02 Jan 2024

Brazil’s state-owned oil and gas giant Petrobras on Sunday announced the start of commercial production from the giant Sepetiba floating production, storage, and offloading (FPSO) vessel at its Mero oil field in the pre-salt area of the Santos Basin offshore.