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Chemicals

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  • *To invest $5 bln in refining, petrochemicals by March. MUMBAI, July 24- India's Reliance Industries Ltd said on Friday it will invest $5 billion across its refining and petrochemicals business by next March, after strong refining margins boosted its quarterly profit. Controlled by India's richest man Mukesh Ambani, Reliance is India's second-largest company...

  • LONDON, July 24- European shares edged lower on Friday, led down by satellite operator SES and chemicals firm BASF after poorly received corporate updates. The pan-European FTSEurofirst 300 was down 0.3 percent at 1,574.44 at 0706 GMT, hitting a one-week low. German firm BASF, the world's largest chemicals company by sales, fell 4.1 percent after earnings missed...

  • LONGVIEW, Texas— The biggest shipment ever received at the Port of Caddo- Bossier in Louisiana has reached its destination— a chemical plant in East Texas. An official with Eastman Chemical Company says the 303- ton piece of equipment arrived Thursday afternoon in Longview. The unit was made in Asia and hauled by barge from the Port of New Orleans to Shreveport, via...

  • *China remains a mixed bag, CEO says. *CEO implying Dow won't sustain Q2 China growth: analyst. July 23- Dow Chemical Co warned of soft demand in China, raising concerns that the largest U.S. chemical maker by revenue would not be able to maintain its growth rate in the key market.

  • Dow Chemical beats 2Q profit forecasts Thursday, 23 Jul 2015 | 8:00 AM ET

    NEW YORK— Specialty chemicals maker Dow Chemical Co. reported better-than-expected second-quarter profit, but revenue fell short on the impact from a stronger U.S. dollar and lower oil prices. The Midland, Michigan- based company reported second-quarter profit of $1.22 billion, or 97 cents per share, marking a 26 percent boost from $967 million, or 73 cents per...

  • *Syngenta CEO says sees no need for deal. ZURICH, July 23- Syngenta and unwanted suitor Monsanto squabbled over an earnings report from the Swiss pesticides maker on Thursday, with both sides claiming it strengthened their case in a $45 billion takeover battle. Monsanto wants to combine its world-leading seeds business with Syngenta's own seeds and pesticides.

  • BAKU, July 22- Azeri state energy company SOCAR plans to sell part of its stake in Turkish petrochemicals company Petkim to cash in on a rise in its share price, SOCAR's president was quoted as saying by Azeri news agency APA-Economics on Wednesday. SOCAR- Turkey has built a 65 percent holding in Petkim since 2007, most recently adding a 10 percent stake bought from...

  • UPDATE 2-BASF to split off struggling pigments businesses Wednesday, 22 Jul 2015 | 10:24 AM ET

    *BASF says looking into all options for pigments units. FRANKFURT, July 22- German chemicals company BASF will set up separate legal entities for its pigments businesses and look into all options, which could include sales, for operations that have been suffering from industry overcapacity. A spokeswoman said BASF would assess all options and no decision had...

  • BAKU, July 22- Azeri state energy firm SOCAR plans to sell part of its shares in Turkish petrochemical company Petkim, SOCAR's president was quoted as saying on Wednesday. "Petkim's share price rose to 4.35 Turkish lira per share from 1.8 Turkish lira in the last two years and that's why we would like to sell part of our shares." SOCAR- Turkey bought 10.32 percent stake...

  • Plant 'milkers' seek molecules for medicines and make-up Wednesday, 22 Jul 2015 | 8:43 AM ET

    *Companies including BASF and Chanel have teamed up with PAT. LARONXE, France, July 22- A quiet village in eastern France is home to an unusual greenhouse. Several major companies, including German chemicals group BASF and French cosmetics maker Chanel, have teamed up with Plant Advanced Technologies in the hope of securing privileged access to the so-called...

  • BEIJING, July 21- China's crude oil imports from Iran rose in June to a two-month high, customs data showed on Tuesday, just as the Islamic nation begins to look ahead to ramping up its exports in the wake of last week's nuclear deal. Thomson Reuters Oil Research& Forecasts had estimated China's June imports from Iran at 507,300 bpd, and has said it expects the volumes...

  • DENVER— Microscopic bugs and mildew can destroy a marijuana operation faster than any police raid. And because the crop has been illegal for so long, neither growers nor scientists have any reliable research to help fight the infestations. There's nothing, "said Frank Conrad, lab director for Colorado Green Lab, a pot-testing lab in Denver.

  • European shares hit fresh six week highs, OCI surges Monday, 20 Jul 2015 | 4:32 AM ET

    *Julius Baer slides after tax-dodging charge. Top riser was OCI, up 11 percent after the Amsterdam- listed chemical company confirmed it is in advanced merger talks with U.S. fertilizer maker CF Industries Holdings Inc.. Yara sold a 50 percent stake in its British fertilizer manufacturer to CF Industries, its joint venture partner, three weeks ago and traders...

  • Fire, propane explosion damage Washington business Friday, 17 Jul 2015 | 2:27 PM ET

    MOSES LAKE, Wash.— A dramatic fire and explosion that sent a propane tank flying 1,000 feet burned five buildings Friday at a company that makes plastic tarps to cover haystacks and set fire to 11,000 tons of hay in central Washington state. The blaze closed Interstate 90, the state's main east-to-west freeway, in both directions for about two hours.

  • July 17- U.S. fertilizer maker CF Industries Holdings Inc is in advanced merger talks with Amsterdam- listed chemical company OCI NV, the Wall Street Journal reported. Shares of CF Industries, which has a market value of about $14.8 billion, were up 7.4 percent at $67.22 after the report. Both CF Industries and OCI were not immediately available to comment on the...

  • CF Industries in merger talks with OCI - WSJ Friday, 17 Jul 2015 | 1:32 PM ET

    July 17- U.S. fertilizer maker CF Industries Holdings Inc is in advanced merger talks with the Netherlands- based chemical company OCI NV, the Wall Street Journal reported. Both CF Industries and OCI were not immediately available to comment on the report. CF Industries and OCI are in discussions about a tie-up that could be reached as early as this month, the...

  • SEOUL/ SINGAPORE, July 16- Asian petrochemical makers are earning near record margins for turning naphtha into ethylene this year as low oil prices cut feedstock costs at the same time that delayed or canceled projects keep the market undersupplied. Asian naphtha crackers- once considered uncompetitive against U.S. and Middle East rivals using natural gas-...

  • French minister says double plant blast was criminal act Wednesday, 15 Jul 2015 | 12:41 PM ET

    PARIS— France's interior minister says a double blast in two huge fuel tanks at a petrochemical plant in southern France is of criminal origin. Bernard Cazeneuve told lawmakers on Wednesday that "the motive has not been established" to explain the explosions Tuesday at the plant near the Marseille Provence Airport. The blasts at the site operated by...

  • *Greece to vote on bailout deal. *Syngenta top riser after hedge fund takes a stake. LONDON, July 15- European shares steadied at three-week highs on Wednesday, led by pesticide maker Syngenta, with investors focused on a crucial vote in Greece on a proposed bailout package to save the country from bankruptcy.

  • Paulson's hedge fund takes stake in Syngenta -sources Tuesday, 14 Jul 2015 | 6:15 PM ET

    July 14- Hedge fund Paulson& Co has taken a stake in Syngenta AG,, and could push for the board of directors of the Swiss pesticide maker to accept a takeover offer from U.S. seed company Monsanto Co, people familiar with the matter said on Tuesday. Monsanto, the world's largest seed company, made a $45 billion bid for Syngenta that the Swiss company rejected.