Items Tagged with 'petrochemicals'

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The United States is imposing sanctions on Iran's petrochemical industry in a bid to cut off funds that the Islamic republic might use for developing its nuclear program.

More than $217 billion will be invested over the next six years in downstream petrochemical production in the United States as a result of the shale gas boom that is boosting the U.S. petrochemical industry.

Most petrochemical businesses have already come to the realization that the U.S. natural gas-based feedstock is giving those who use it a great advantage in terms of costs.

Global energy giant Shell has announced plans to expand its investments in Asia by building new petrochemical units in Singapore.

Global petrochemical producers are facing fierce competition from U.S. companies that have been taking advantage of the huge amounts of natural gas available from their own oil and gas fields and used as feedstock for petrochemical production.

Chinese oil and gas company Sinopec says it is striving to lower its petrochemical production costs and optimize its product mix in order to stave off competition from the U.S.

Legal proceedings that have been going on for years between Dow Chemical Co. and Kuwaiti state-owned Petrochemical Industries Co. are finally over, after an international court awarded an extra $318 million to the American chemical corporation.

The U.S. petrochemical industry is expecting growth in the first half of 2013, compared to the previous six-month period, mostly due to the increase in use of ethane as the key ethylene feedstock.

New investment is expanding the U.S. petrochemical industry's position as a global producer, Steve Pryor, president of ExxonMobil Chemical Company, said in a speech at the IHS CERAWeek 2013 conference.

Ongoing reforms in Nigeria's gas sector will make the West African country a regional hub for petrochemical and fertilizer production by 2017, according to Nigerian National Petroleum Corp. (NNPC) Group Executive Director David Ige.