Petrochemicals

Saudi petchem giant SABIC's profit jumps as industry recovers

RIYADH (Reuters) -- Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, gave further evidence of a recovery in the sector on Thursday with its first profit rise in ten quarters.

Lotte Chem looking into acquiring Singapore's Jurong Aromatics

SEOUL (Reuters) -- Lotte Chemical Corp is looking into acquiring troubled Singapore petrochemical company Jurong Aromatics Corp, as the South Korean company continues to push for growth.

RPM acquires manufacturer of specialty chemicals for infrastructure industry

MEDINA, Ohio -- RPM International Inc. announced that it has acquired Prime Resins to be part of its USL Group. Prime Resins is a manufacturer of specialty chemicals and equipment for infrastructure construction and repair.

Arkema upgrades its Texas acrylics facility

Arkema is investing $90 million on its Clear Lake, Texas site to replace existing acrylic acid production units with modern facilities using available technologies.

Linde to supply methane, hydrogen to Evonik's methionine complex in Singapore

SINGAPORE -- Linde Gas Singapore, a member of technology company The Linde Group, announced that it has signed a long-term contract to supply methane and hydrogen to Evonik Methionine SEA's second world-scale methionine complex in Singapore (Me6). Linde is already supplying a range of gases to Evonik's first methionine complex in Singapore (Me5) through its on-site gases facility, which began operations in 2014.

Advent-led GTM buys Brazil chemical firm quantiQ for $172 MM

SAO PAULO (Reuters) -- GTM Holdings SA, Latin America's No. 1 independent distributor of chemical products, has agreed to pay $172 million for Brazilian peer quantiQ Distribuidora Ltda, in an effort to gain more foothold in the region's biggest country.

Axens takeover bid on Heurtey Petrochem successful

Axens announces the successful outcome of its tender offer on the Heurtey Petrochem shares. The results of this offer were published by the Autorité des marchés financiers (the AMF, the French capital market regulator).

Iran seeks investors for 25 petrochemical projects

DUBAI (Reuters) -- Iran is seeking investment to build 25 petrochemical projects, an official at the state-run National Petrochemical Company (NPC) was quoted on Saturday as saying.

EIA: US set to become energy exporter by 2026

NEW YORK (Reuters) -- The United States is projected to become a net energy exporter over the next decade due to rising natural gas exports and falling petroleum product imports, the US Energy Information Administration said on Thursday.

Marathon Petroleum explores spin-off for retail business Speedway

(Reuters) -- Marathon Petroleum Corp announced a series of steps to increase its stock price, including the possible separation of its Speedway retail business, amid pressure from hedge fund Elliott Management.