The chemical manufacturing unit of Malaysian state energy firm Petroliam Nasional Bhd, or Petronas, plans to spend roughly $6 billion over the next 15 to 20 years to expand its specialty chemicals portfolio through acquisitions and partnerships, its chief executive said on Monday.
The budget is part of Petronas Chemicals Group Bhd’s efforts to make the high-margin specialty chemicals unit a central part of the company’s business, Chief Executive Sazali Hamzah said in an interview with Reuters at the Asia Oil & Gas Conference.
“By doing that we are going to diversify our portfolio and our dependency on crude and gas will be a lot less,” Sazali said.
By A. Ananthalakshmi and Florence Tan
Neste is announcing the conclusion of its first series of trials into processing liquefied waste plastic with chemical recycling technology at its Porvoo refinery in Finland. The oil refining company says it has processed about 800 tons of liquefied waste plastic over the last two years – roughly the same amount generated annually by a European city with 500,000 people.
Sika performed well in a challenging environment in 2021. Despite the persistent COVID-19 pandemic and bottlenecks in the procurement of raw materials, sales rose significantly to a record CHF 9.24 billion, corresponding to growth of 17.1% in local currencies.
Ineos Olefins and Polymers Europe is joining the pioneering polypropylene (PP) recycling project Nextloopp, supporting its delivery of food-grade recycled content. The chemicals company will orchestrate a pivotal two-year project that will inform the building of a demonstration plant in the UK to produce 10,000 metric tons of recycled polypropylene (rPP) annually.