Americas top stories: weekly summary

Source: ICIS News

2018/05/28

HOUSTON (ICIS)--Here are the top stories from ICIS News from the week ended 25 May:

Chinese regulators give LyondellBasell clearance for A Schulman acquisition
LyondellBasell has received approval from the Chinese State Administration of Market Regulation (SAMR) for its proposed $2.25bn purchase of plastic compounder A Schulman, the polyolefins major said on Tuesday.

Total, Borealis, NOVA close joint venture for Texas project
Total, Borealis and NOVA Chemicals have received all regulatory approvals and have closed on their joint venture, which plans to build a petrochemical project on the US Gulf Coast, the companies announced on Wednesday.

Initial US May propylene contracts settle at 5 cent/lb increase
Initial US May propylene contract price settlements are at an increase of 5 cents/lb from the prior month, although the settlement is not yet marketwide, market sources said on Thursday.

Braskem's US shares jump on news of LyondellBasell bid
The US-listed shares of Braskem closed sharply higher on Thursday following news that LyondellBasell had proposed to acquire the Brazilian polyolefins producer.

Thai Indorama completes acquisition of Brazil PET plant
Indorama Ventures Public Co Limited (IVL) has completed the acquisition of Mossi & Ghisolfi's (M&G) polyethylene terephthalate (PET) plant in Brazil, the company said on Friday.

Brazil loosens biofuel laws as trucker strike paralyses country
Brazil has loosened its biodiesel and ethanol blending requirements after a trucker strike has paralysed the country, making it increasingly difficult for distributors to receive the biofuels they need to comply with the mandate.