By Malini Hariharan Honam Petrochemical’s plans for Indonesia appear to be progressing. Company sources told ICIS news yesterday that a feasibility study is underway for a $4-5bn petrochemical complex in Southeast Asia with Indonesia the most likely location. The study is likely to be completed by early 2013. Meanwhile, Indonesia media quoted senior managing director […]
Asian Chemical Connections
Weak margins hit earnings
By Malini Hariharan It is the results season and numbers posted so far confirm that the last quarter has been rough with depressed demand, weak product prices and firm feedstock costs affecting earnings. Siam Cement Group’s EBITDA for the chemicals division dropped 25% in Q4 from the previous quarter, while sales revenue declined by 5%. […]
Q2 setback for Korea
By Malini Hariharan The margin pain experienced in Asia in the last quarter is clearly evident in the recently released results by South Korean majors Honam Petrochemical and LG Chem. Honam’s operating profit for Q2 declined 36.8% from the previous quarter to Won36.1bn. LG Chem’s operating profit was down 7.2% at Won775.4bn while its petrochemical […]
Honam plans Titan expansion
By Malini Hariharan News is trickling in on Honam Petrochemical‘s plans for Titan Chemicals once it completes the acquisition at the end of the year. A source close to the company said that revamping of Titan’s two crackers have been evaluated including expansion of derivatives and building new downstream units at Titan’s Pasir Gudang complex […]
Qatar says there will be one more cracker
By Malini Hariharan Qatar has reconfirmed its commitment to build more petrochemical plants including a new worldscale cracker. At a ceremony to mark the start of construction of Qapco’s new ldPE project, the deputy premier and minister of energy and industry said Qatar was launching an aggressive plan to achieve optimal utilization of the country’s […]
Shell would like to build two MEG plants in Qatar
By John Richardson An ethane shortage is slowing Shell Chemicals’ ambitions for building at least one cracker complex in Qatar, Ben van Beurden, executive vice-president of the company said last week. “Ideally, we’d like to build two crackers and two OMEGA process plants on the scale of this one here in Singapore, but at […]
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