Reuters Dow Inc chief executive officer said on Thursday it would probably take a couple of years for the chemical maker’s volumes and margins to rebound to pre-coronavirus levels, and laid out additional cost-cutting plans to cope with its fallout. The company posted its first quarterly loss since its separation from the erstwhile DowDuPont conglomerate and forecast third-quarter sales below
Source: Reuters LONDON (Reuters) – BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China’s Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant, BP said on Friday. The planned production site for acetic acid, which is used in chemical products such as paints and adhesives,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Pembina Pipeline Corporation will purchase Kinder Morgan Canada and U.S. portion of Cochin Pipeline for CAD $4.35 billion Pembina Pipeline Corporation (stock ticker: PBA), a midstream service provider based out of Calgary, has entered into agreements to acquire Kinder Morgan Canada Limited (stock ticker: KMLGF) and the U.S. portion of the
From Reuters Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday. Exxon’s topped analysts’ reduced estimates for the quarter but net fell 21% from a year earlier, its third quarter in a row of weaker year-over-year profit, despite a near doubling
Gulf coast plant expansion set to make new jobs at world’s largest alpha olefins plant Royal Dutch Shell’s (ticker: RDS.B) Shell Chemical LP announced today that it received a final investment decision to increase alpha olefin (AO) production at its chemical manufacturing site in Geismar, Louisiana. The expansion consists of a fourth AO unit, which will add 425,000 tons of
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