Market History: Top 20 Petrochemical Companies in 2012

As we are approaching the end of 2012, let's have a look at the list of top petrochemical companies. The list is for Dec 2011 year end, consolidated in 2012. BASF of Germany maintains its top position of top spot for biggest petrochemical company in the world followed by Sinopec which slightly topples Exxon Mobil for a second place.

Global Ranking	Petrochemical Company	Revenue in US$ Million for 2011
1	BASF	95,245
2	Sinopec	65,752
3	Exxon Mobil	64,731
4	Dow Chemical	59,985
5	Lyondell Basell Industries	51,035
6	SABIC	50,636
7	Shell	46,963
8	Mitsubishi Chemical	38,713
9	DuPont	37,961
10	INEOS	27,529
11	Total	26,839
12	Bayer	24,975
13	Sumitomo Chemical	23,505
14	Akzo Nobel	20,342
15	LG Chem	19,580
16	Johnson Matthey	19,252
17	Toray	19,170
18	Air Liquid	18,735
19	Evonik	18,308
20	Linde Group	17,867

Sabic Building Ultra-high Molecular-weight Polyethylene Plant

Sabic through its two affiliates are building a 35 ktpa ultra-high molecular-weight polyethylene (UHMWPE) plant in Jubail, Saudi Arabia which will be located at Kayan Petrochemical Complex. The plant is expected to be commissioned in 2014.

Mitsubishi Building A Methanol Plant in Trinidad Tobago

Mitsubishi is planning a methanol plant which will be the feedstock for its downstream petrochemical products. The plant, which will convert methanol to DME (dimethyl ether) will be built in La Brea, Trinidad and Tobago. The project is estimated to cost around USD 850 million.

BASF ink MoU with Sinopec China for INA

BASF explored new investment in China together with its local partner Sinopec. The chemical company is looking for a production of the plasticizer isononanol (INA) in Southern China. Both companies are eyeing the feasibility of a world-scale plant for production of INA in a new joint venture expected to be completed by end of 2012.

BASF has yet to announce any CAPEX figures. The company has yet to make any other investment of INA outside its INA complex in Ludwigshafen, Germany. Currently Evonik is the number two manufacturer of INA in Europe and worldwide with capacity of 340 ktpa INA in Marl. Exxon is the leading manufacturer of INA.

BASF is also in a planning for a world-scale plant in Malaysia, together with Petronas. This will leapfrog BASF against Evonik to be the number one INA supplier in the world.

Japan Turning Second as Biggest Solar Power Market

Japan is planning big on its solar projects to replace the vacuum left by its nuclear facilities for the electricity generation in the country. Softbank of Japan will be operating seven megasolar plants producing 260 MW making it the biggest Japan’s solar power firm.

Japan’s latest policy subsidizing renewable energy may see Japan to leapfrog Italy to become the number two market for solar power behind Germany. A new superscale of solar power capable of producing 200MW is also on the pipeline for Hokkaido plant.

New Cheap Solar Panels Created

Researchers from the University of Toronto and King Abdullah University of Science and Technology in Saudi Arabia had created a solar cell out of cheap, inexpensive materials for usage of solar panels with an impressive 7% efficiency.

The new solar cells use quantum dots which can harvest electricity from both the visible and invisible wavelengths of the solar spectrum. Furthermore, it can be created using similar methods used to produce paint or ink which can be fabricated on flexible substrates in the same way newspapers are rapidly printed in mass quantities.

The new way of producing the material pushed the efficiency by 37% compared to previous method using hybrid passivation method using small chlorine atoms.

Korea Gas Corp eying shale-gas assets

Korea Gas (Kogas) is to invest $3Billion in Australia LNG Projects comprising an estimated $1 billion in Royal Dutch Shell's Prelude LNG project and at least $2 billion in the Gladstone LNG project.

Each project is expected to provide the company with around 3.5 million tons of LNG annually.

Kogas is also looking at the U.S. shale gas assets. Kogas is planning a new Houston office.