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  • LyondellBasell files for bankruptcy

    LyondellBasell has become the largest-ever chemical company bankruptcy , just 12 months after its formation. Its US operations, and Basell Germany Holdings GmbH, filed for Chapter 11 protection in New York tonight. The company expects its other non-US operating entities to continue to function independently...
    Posted to ICIS Blogs (Weblog) by Anonymous on 01-06-2009

  • The CEO's survival guide

    The past few weeks have not been good for the chemical industry, with 4 major companies suffering significant problems: BASF warned that "customer demand in key markets has declined significantly" since October, and have temporarily shutdown 80 plants worldwide, whilst reducing production at...
    Posted to ICIS Blogs (Weblog) by Anonymous on 01-06-2009

  • A "V-", "U-", "W-" or "L-shaped" recession?

    There is now general agreement that we are in a global recession. The World Bank's new 'Global Economic Prospects' report forecasts global GDP growth of 2.5% in 2008, and just 0.9% next year. This is well below the 3% level that signals recession. And the Bank also forecasts that world trade...
    Posted to ICIS Blogs (Weblog) by Anonymous on 12-14-2008

  • BASF sees "massive decline"

    6 weeks ago , I warned that "the scariest moment of my 30 year chemical career" was about to be repeated. This had been in 1980, when "for some weeks it seemed that demand for many petchem products had simply stopped". Three weeks later, the blog confirmed that "the moment it...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-19-2008

  • Dow buys Rohm & Haas

    Dow's potential interest in Rohm & Haas had been much rumoured since December , when it announced the petchem/polymer JV with Kuwait's PIC. That deal has yet to close, but further evidence of the growing link with Kuwait comes with the news that the Kuwait Investment Authority will invest...
    Posted to ICIS Blogs (Weblog) by Anonymous on 07-11-2008

  • BASF – the oil and gas company

    BASF Chairman Jürgen Hambrecht sounded confident last week, following their annual results . 2007 sales were €58bn (up 10% on 2006), and income from operations was €7.3bn (up 8%). However, Q4 saw sales up just 1.6% at €14.7bn, and income actually down 3.4% at €1.6bn. The main culprit in Q4 was chemicals...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-24-2008
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