Oil and gas price rises have raised costs for the petrochemical and chemical industries, thanks to background inflation aggravated by the war in Ukraine.
Sulzer acquires GTC Technology US, LLC, a technology company offering proprietary processes and systems for the production of aromatics and other petrochemicals.
Honeywell (HON) announced that Zhejiang Petrochemical Co. Ltd. (ZPC) will use a range of process technology from Honeywell UOP, the leading licensor of refining and petrochemical process technology, for the second phase of an integrated refining and petrochemical complex in Zhoushan, Zhejiang Province.
Bashneft has announced plans to invest 35 billion rubles over five years in oil refining and petrochemicals. Bashneft plans to invest about 19 billion rubles in raising product yield from crude and production of light oil products; 9.
Saudi Aramco and Japan’s Sumitomo Chemical Co. officially signed an agreement to set up an equally-owned joint venture for an integrated refinery and petrochemicals project in Rabigh, Saudi Arabia, but they now see total investment costs doubling to USD 8.5 billion, Sumitomo has said.
Foster Wheeler Ltd has been awarded a contract to upgrade a condensate refinery in Dubai, UAE.