World Chemical News, June 2020, by chemwinfo
29 June 2020
bp agrees to sell its petrochemicals business to INEOS
• $5 billion deal for bp’s global aromatics, acetyls
and related businesses
• Next strategic step in focusing portfolio
as part of reinventing bp
• Further strengthens bp’s finances,
delivers $15 billion divestment target a year early
bp’s aromatics business is a global leader
in the production of purified terephthalic acid (PTA),
a key feedstock for the manufacture of polyester plastics,
and its precursor paraxylene (PX).
The business’s largest manufacturing plants are
in China, the US and Belgium
and it licenses its leading PTA production technology
to producers around the world.
The acetyls business produces
acetic acid and derivatives
such as acetic anhydride,
which have uses in a wide range of sectors.
It has a diverse base with manufacturing plants
in the US, the UK, China, Korea, Taiwan and Malaysia.
The sale will also include related interests such as
the chemical recycling technology bp Infinia
and bp’s interest in acetylated wood developer Tricoya.
19 June 2020
Solvay starts up new Hydrogen Peroxide
dilution and packing plant in Vietnam.
Solvay Peroxides Vietnam started production
to reach 24k ton capacity per year
for international standard quality Hydrogen Peroxide
for the textile industry and other applications.
Being the first industrial facility based in Vietnam
of the Solvay group, this plant was built
and made operational in full alignment
Health Safety & environmental standards.
High quality Hydrogen Peroxides are supplied by
our world largest plant in Thailand
to customer requirements locally..
19 June 2020
Altura Mining Limited (ASX: AJM) (“Altura”)
is pleased to advise that it has secured
a multi-year Binding Offtake Agreement (BOA) with
Hunan Yongshan Lithium Co., Ltd,
a subsidiary of Ningbo Shanshan Co., Ltd
(“Shanshan”), a global leader in the production
and sales of anode and cathode material
to the lithium battery market..
Key Offtake Terms
Separate contract for 2020 to provide 44,000 dmt
of 6% grade spodumene concentrate (SC6)
product in line with market price.
5-year offtake agreement (from 2021 to 2025)
with take or pay provisions
commencing from January 2022.
Contract years 2 – 5 (2022 to 2025)
have a confirmed minimum
annual quantity of 60,000 dmt.
Pricing under BOA is on a US$CIF basis
linked to Altura production costs
via a pricing formula which is also adjusted
for spodumene concentrate quality,
with additional product supplied
to be sold at a market price
agreed between parties.
BOA includes an option for the sale of
any other Stage 1 production
that becomes available for a maximum
of 30,000 dmt in 2021 and 60,000 dmt per annum
between 2022 and 2025.
BOA includes a further option
for the supply of any product outside
the Stage 1 production of up to 30,000 dmt
per annum (and subject to a maximum
total of 100,000 dmt over the term of the BOA).
18 June 2020
Evonik wants to make green hydrogen more affordable
• Innovative membranes for water electrolysis
• Polymer chemistry is the key
cost-efficient hydrogen production
18 June 2020
new chairman of the Supervisory Board of BASF SE
Successor to Jürgen Hambrecht,
who is leaving the Supervisory Board as planned
Congratulations to Mr. Kurt Bock for being elected
as new Chairman of the Supervisory Board of BASF SE
17 June 2020
Dow sets targets to reduce GHG emissions,
and drive toward a circular economy
One million metric tons of plastic
to be collected, reused or recycled by 2030
100% of Dow products sold into
to be reusable or recyclable by 2035