Jurong Aromatics, whose shareholders include South Korea’s SK International and Glencore, hasn’t been able to service interest payments amid a plunge in oil prices, and operations have been stalled since December.
Even after the recent downturn in oil and natural gas pricing, our analysis shows why downstream E&C companies can depend on a strong backlog to last through the decade.
Raw materials costs continue to stay low in the US thanks to the shale boom, but the global decline in oil markets has eroded selling prices for many of the nation’s domestic chemicals and plastics producers.
GTC executive Joseph Gentry explained that the latest GT-G2A technology is a novel means to convert natural gas to liquids using a methane coupling method of synthesis.
The global survey of chemical executives and members of the M&A community showed that 60% of these chemicals executives see increased mergers and acquisitions in 2015, driven by portfolio restructuring and an overall focus on companies’ core businesses.
The technology will address large-scale units and produce purified aromatics streams suitable for modern derivative production processes at a very competitive price.
KBR has formed an alliance to sell the exclusive license for JNC Corp.’s PVC process technology, which it inherited from CHISSO Corp.’s business, a pioneer in the Japanese chemical industry.
The latest resurgence of the US petrochemical industry is reflected in the planned construction of new ethylene and methanol (MeOH) capacities throughout the country.
Borealis Polymers executed an online optimization project at its phenol and aromatics plants in Porvoo. The plantwide application increased the output rate by 9% and greatly improved the stability of operations.
Coal-to-chemicals routes are now an important and viable option for producers in China and beyond. Those that look upon them as atavistic dinosaurs do so at their peril.
A searchable database of project activity in the global hydrocarbon processing industry
Engineers and designers are highly skilled individuals. Forcing them to enter design changes using tables, forms and spreadsheets is unproductive and uneconomical, and it increases the likelihood of human error—this is the way that most instrumentation software systems currently work. For too long, software vendors have denied engineers and designers the simple practicality of a graphical visual engineering interface with “drag and drop” capability and inbuilt intelligence, ensuring changes are automatically replicated into all the associated data and databases.
D. GIBSON, AVEVA
As low oil prices make naphtha cracking margins in Europe and Asia more competitive, are investments in new, ethane-based petrochemicals capacity in the US and Middle East becoming less attractive?
Yes, ethane cracking is less economical
No, ethane cracking is still the future
Too early to tell