Petrochemical Deals: Arkema Acquiring Repsol’s PMMA
Arkema is acquiring Repsol’s polymethyl methacrylate (PMMA) business in Europe which will increase the company’s growth opportunity and boosting its position in Europe as major PMMA sheet supplier.
Spanish firm’s Repsol has eight polymethyl methacrylate production sites which capacity alone is 20% of PMMA global market production through its subsidiary Altuglas.
Petrochemical Deal: Lyondell & Basell $19.4 billion MergerLyondell and Basell completed a $19.4bn merger of what could potentially become a global leader in the
petrochemical industry, with exceptional capabilities in both chemicals and fuels.
The merger which new name is LyondellBasell is now the third largest independent chemical company with 60 plants in over 19 countries with annual income revenues totalling $42.8 billion.
Lanxess Acquiring 70% Stake in PetroflexLanxess admittedly will spend almost 300 million Euro for a 70% stake in Brazil’s Petroflex through stake acquisition from Braskem and Unipar. This inevitably would strengthen Lanxess market capitalization in the rubber industry since Petroflex was among the world’s large-scale producers of synthetic rubber,
The deal will ensure Lanxess to have access to over 1,300 employees for extra 400 ktpa rubber output for market export outside Brazil.
Petrochemical News: Petrobras Quits Venezuela
Petrobras, a Brazillian state-run oil and gas company, has bailed out for investment in Venezuela gas with Venezuelan state-run PDVSA. The investment in Mariscal Sucre field in Venezuela was called off by Petrobras' President, Jose Sergio Gabrielli.
The bail was due to indifferences in which Petrobras preferred to export the gas as LNG whereas PDVSA preferred to use it domestically. However, this has not ruin their other ties in refineries where Petrobras and PDVSA are also partners in a planned project to build a refinery in the state of Pernambuco, Brazil.
Petrochemical News: Dow Stops Pursuing Ethylene/ Polyethylene
Dow CEO, Andrew Liveris in a conference call with analysts and investors, announced that the chemical major is now no longer pursuing ethylene and polyethyele (PE) on its own after its joint venture of 50/50 with Kuwait Petroleum Corp (PIC). This is part of Dow's latest asset light strategy as claimed by Liveris, "We have created the global petrochemical company of note," said Liveris. "Stay tuned - Dow Chemical is not done yet."
The news come in shock for business analysts and investors in which Dow will put much of its commodity businesses in the venture, including PE, polypropylene, polycarbonate, ethylene amines and ethanolamines. Utilizing cheap feedstock from the Middle East, this deal and joint venture with PIC will bring Dow to be able to mitigate cyclicality.
There are also talks that Dow's US and European facilities will be shut down following the deal which now places all Dow's ethylene and PE under the JV. In return, Dow is expecting a whopping 40% return for the new deals on its petrochemical plants.
Arkema is acquiring Repsol’s polymethyl methacrylate (PMMA) business in Europe which will increase the company’s growth opportunity and boosting its position in Europe as major PMMA sheet supplier.
Spanish firm’s Repsol has eight polymethyl methacrylate production sites which capacity alone is 20% of PMMA global market production through its subsidiary Altuglas.
Petrochemical Deal: Lyondell & Basell $19.4 billion MergerLyondell and Basell completed a $19.4bn merger of what could potentially become a global leader in the
petrochemical industry, with exceptional capabilities in both chemicals and fuels.
The merger which new name is LyondellBasell is now the third largest independent chemical company with 60 plants in over 19 countries with annual income revenues totalling $42.8 billion.
Lanxess Acquiring 70% Stake in PetroflexLanxess admittedly will spend almost 300 million Euro for a 70% stake in Brazil’s Petroflex through stake acquisition from Braskem and Unipar. This inevitably would strengthen Lanxess market capitalization in the rubber industry since Petroflex was among the world’s large-scale producers of synthetic rubber,
The deal will ensure Lanxess to have access to over 1,300 employees for extra 400 ktpa rubber output for market export outside Brazil.
Petrochemical News: Petrobras Quits Venezuela
Petrobras, a Brazillian state-run oil and gas company, has bailed out for investment in Venezuela gas with Venezuelan state-run PDVSA. The investment in Mariscal Sucre field in Venezuela was called off by Petrobras' President, Jose Sergio Gabrielli.
The bail was due to indifferences in which Petrobras preferred to export the gas as LNG whereas PDVSA preferred to use it domestically. However, this has not ruin their other ties in refineries where Petrobras and PDVSA are also partners in a planned project to build a refinery in the state of Pernambuco, Brazil.
Petrochemical News: Dow Stops Pursuing Ethylene/ Polyethylene
Dow CEO, Andrew Liveris in a conference call with analysts and investors, announced that the chemical major is now no longer pursuing ethylene and polyethyele (PE) on its own after its joint venture of 50/50 with Kuwait Petroleum Corp (PIC). This is part of Dow's latest asset light strategy as claimed by Liveris, "We have created the global petrochemical company of note," said Liveris. "Stay tuned - Dow Chemical is not done yet."
The news come in shock for business analysts and investors in which Dow will put much of its commodity businesses in the venture, including PE, polypropylene, polycarbonate, ethylene amines and ethanolamines. Utilizing cheap feedstock from the Middle East, this deal and joint venture with PIC will bring Dow to be able to mitigate cyclicality.
There are also talks that Dow's US and European facilities will be shut down following the deal which now places all Dow's ethylene and PE under the JV. In return, Dow is expecting a whopping 40% return for the new deals on its petrochemical plants.
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