Materials Chemicals

  • LONDON, April 17- Global commodities house Trafigura Group said on Wednesday it is entering petrochemicals trading by teaming up with Houston- based Altis Group International to take advantage of an expanding sector. Geneva- based Trafigura estimates the value of the global petrochemical market at $729 billion and growing. The joint venture will have two...

  • BEIJING/ SINGAPORE, April 17- China National Petroleum Corp has started building a 9.05 billion yuan project to make ethylene from ethane in the gas-rich northwestern region of Xinjiang, the state-run Economic Information Daily reported on Wednesday. The project is slated for completion by June 2021. China is the world's largest petrochemicals consumer and...

  • DUBAI, April 17- State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake in the refining and petrochemicals businesses of India's Reliance Industries, two sources familiar with the matter told Reuters on Wednesday. The Times of India reported earlier that Aramco was in talks to buy up to a 25 percent stake, which could be worth...

  • SHANGHAI, April 17- China has asked French utility Suez SA to help the country's efforts to tackle underlying safety issues in its massive chemical sector after a deadly explosion in the eastern coastal city of Yancheng last month, a company executive said. Authorities were in touch with Suez in the aftermath of the blast to discuss contamination risks at the...

  • Recent chemical fires spur safety concerns

    CNBC's Brian Sullivan reports from Crosby, Texas, on recent major chemical fires and the growing concern over safety following deregulation.

  • Old, Fatigued and Dangerous: The Current State of the Multi-Billion Dollar Chemical Industry

    In light of recent chemical accidents in Texas, CNBC's Brian Sullivan takes a look at why these events keep happening in the multi-billion dollar chemical industry.

  • SEOUL, April 15- The biggest shareholder in South Korean oil refiner Hyundai Oilbank said on Monday that state-owned Saudi Aramco had agreed to buy a 17 percent stake in its oil processing operations for 1.4 trillion won. The agreement, reached with an Aramco subsidiary, Aramco Overseas Co B.V, will support the mother company's crude oil placement strategy by...

  • *No fatalities in fire at RAPID refinery, Petronas says. KUALA LUMPUR, April 12- A fire was brought under control early on Friday after an explosion at a Malaysian oil refinery being developed by state oil firm Petronas, which was testing its facilities ahead of planned commercial operations later this year. RAPID, or Refinery and Petrochemical Integrated...

  • *No fatalities in fire at RAPID refinery, Petronas says. KUALA LUMPUR, April 12- A fire was brought under control early on Friday after an explosion at a Malaysian oil refinery being developed by state oil firm Petronas, which was testing its facilities ahead of planned commercial operations later this year. RAPID, or Refinery and Petrochemical Integrated...

  • KUALA LUMPUR, April 12- A fire was brought under control early on Friday after an explosion at a Malaysian oil refinery being developed by national oil firm Petronas, which was testing its facilities ahead of planned commercial operations later this year. RAPID, or Refinery and Petrochemical Integrated Development, will anchor the Pengerang Integrated...

  • Secretary of Agriculture Sonny Perdue on Thursday criticized Vietnam's move to ban imports of glyphosate-based herbicides, saying the decision would have "devastating impacts on global agricultural production." Vietnam's government said in a statement that the toxic level of herbicides containing glyphosate had long been of concern, in the latest...

  • CHICAGO/ HANOI, April 11- U.S. Secretary of Agriculture Sonny Perdue on Thursday criticized Vietnam's move to ban imports of glyphosate herbicide, saying the decision would have "devastating impacts on global agricultural production." Vietnam's government said in a statement that the toxic level of herbicides containing glyphosate had long been of concern,...

  • HOUSTON, April 10- A Texas grand jury on Wednesday indicted chemicals manufacturer Arkema North America and one of its executives on assault charges, alleging they underplayed the dangers of a fire that injured two emergency workers called to the site during a fire. The U.S. arm of the French chemicals firm and its vice president of logistics, Michael Keough, were...

  • COPENHAGEN, April 5- Novozymes has signed up two new partners for its biological agriculture business, adding to its previously exclusive partnership with German chemicals giant Bayer in a drive to boost growth. Novozymes said it had been happy with its collaboration since 2014 with Monsanto and then Bayer, which bought Monsanto last year for $63 billion.

  • April 1- DowDuPont Inc said on Monday it had completed the spin-off of its materials science division as part of a plan to split the chemical producer into three separate units. Shares of the new division, Dow, will begin trading on the New York Stock Exchange on Tuesday. Dow and Dupont completed a $130 billion merger in 2017 to form DowDuPont and had outlined a plan...

  • DUBAI, April 1- Saudi Aramco, the world's top oil producer, has been rated A+ by Fitch and A1 by Moody's in its first-ever credit ratings, ahead of the state oil giant's first global bond sale and following 2018 earnings that dwarfed those of international oil majors. Given Aramco is fully state owned, its ratings are in line with the credit rating of Saudi Arabia.

  • HOUSTON, March 29- Two companies filled lawsuits this week in federal courts in Texas alleging that ships they operated in 2018 were damaged by contaminated bunker fuel sold by a Valero Energy Co subsidiary Valero Marketing and Supply Co, according to court documents. The National Shipping Co of Saudi Arabia said it paid out more than $1.1 million for repairs...

  • LONDON/ NEW YORK, March 29- Global mergers and acquisitions sank 17 percent in the first quarter of 2019, as concerns about an economic slowdown and fears of a no-deal Brexit in Europe spooked chief executives and corporate boardrooms from pursuing big tie-ups. Activity in Europe plunged 67 percent, according to Refinitiv data, and dragged down global M&A...

  • March 28- DowDuPont Inc cut its forecast for first-quarter sales on Thursday, citing the impact of U.S. Record floods have devastated a wide swath of the Farm Belt across Iowa, Nebraska, South Dakota and several other states, idling ethanol plants, slowing rail shipments of agricultural products and swamping storage bins holding grain from previous harvests.

  • Sanjeev Gandhi, a BASF board member, says he expects the U.S. and China to find a solution to the trade conflict "soon." He also says that he hopes a resolution will bring things back to "business as usual" in BASF.