Petrochemical

Assam Petrochemicals Limited has entered into a partnership with Gurgaon-based FC TecNrgy, a leading producer of fuel cells and alternate energy solutions, to produce high-grade methanol tailored for India's fuel cell market. The memorandum of understanding (MoU) was signed by Col Karandeep Singh (Retd), MD & CEO of FC TecNrgy Pvt Ltd, and Rajnesh Gogoi, Managing Director of Assam Petrochemicals Limited, during the International Methanol Seminar hosted by Niti Aayog this week, the firm said in a statement. The ceremony was presided over by Niti Aayog vice chairman Suman Bery. "Under the MoU, Assam Petrochemicals and FC TecNrgy will collaborate on a project to refine methanol produced by Assam Petrochemicals to achieve 99.95 per cent purity -- suitable for the rapidly growing fuel cell market -- which will further reduce the consumption of fossil fuels in India," it said. Together, the companies aim to achieve target production levels of high-grade methanol, with an estimated ...

Union Minister Anupriya Patel on Friday said Odisha is ready to become a leader in the petrochemical sector which is projected to be a USD 1 trillion industry by 2047. Addressing a conference "Advanced India: Indian Chemicals and Petrochemicals Paving the Future" here, she said the eastern state with its skilled manpower and strategic coastal location is poised to become a major hub in the sector. She also said the India Chem 2024 summit, scheduled to take place in Mumbai from October 17-19 after a two-year hiatus, is expected to attract significant global participation. Odisha, with its skilled manpower and strategic coastal location, is poised to become a major hub for chemicals and petrochemicals, and will offer vast opportunities for manufacturing, employment and exports, Patel, the minister of state for chemicals and fertilizers, said. The sector, currently valued at USD 220 billion, is projected to surpass USD 1 trillion by 2047, she said, adding that the government's focus o

State-owned Bharat Petroleum Corporation Ltd (BPCL) is exploring setting up an oil refining and petrochemical complex over the next 5-7 years as it steps up capacity to meet India's rising energy demand, chairman G Krishnakumar told shareholders on Friday. BPCL, which lost one of its four oil refineries to Oil India Ltd in the aborted privatisation plan, has lined up Rs 1.7 lakh crore of investment for expanding its core oil refining and fuel retailing business as well as in new energy ventures. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi (refineries), we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," he said. BPCL had to give up its Numaligarh refinery in Assam to OIL when the government was attempting to privatise the company. The transfer was to keep the Numaligarh unit within public sector to honour Assam accord. But BPCL privatisation was aborted due to la

The new ethane cracking unit aims to meet the domestic demand for petrochemicals, which is projected to nearly triple to $1 trillion by 2040

SPIC is earmarking Rs 970 crore to revamp the existing urea plant, augment capacity, and establish a 150 MTPD (metric tones per day) green ammonia plant

State-owned gas utility GAIL (India) Ltd has signed a Rs 63,000-crore deal to source feedstock for its upcoming petrochemical plant at Usar in Maharashtra from Bharat Petroleum Corporation Ltd for 15 years, the two companies said. "The 15-year supply contract, estimated at a value of over Rs 63,000 crore, will see GAIL procuring 600,000 tonnes per annum of propane from BPCL's LPG import facility at Uran, which is presently capable of handling 1 million tonnes per annum of LPG imports and is undergoing expansion to accommodate 3 million tonnes a year of propane and butane imports," GAIL said in a statement. GAIL is constructing India's first propane dehydrogenation (PDH) plant at Usar in Maharashtra with a nameplate capacity of 500,000 tonnes per annum. The facility, which is likely to commence operations in 2025, will have a propylene production seamlessly integrated into a polypropylene (PP) plant of equal capacity. "This pioneering venture aligns perfectly with the surging demand

However, other states have gone ahead with their plans, including Andhra Pradesh in 2021 in the Vizag-Kakinada region

Union Chemicals and Fertilisers Minister Mansukh Mandaviya on Friday asked foreign companies to invest in India's petrochemical industry that presents huge business opportunities. Addressing 'Asia Petrochemical Industry Conference 2023', Mandaviya asserted that the Modi government is pro-farmer, pro-poor and is also industry-friendly. He said the government is making long-term policies for chemicals and petrochemicals sector to attract investments from domestic and foreign companies. The minister asked industry to follow the path of reclaim, reuse and recycle for sustainable development. "India is poised to be the new destination of petrochemicals, globally. Due to our business-friendly policies, the world views India as a trusted partner and priority destination for investment," Mandaviya said. He said the Indian chemical manufacturing industry has truly been one of the emerging global manufacturing hub for petrochemicals. "Today, India is promoting ease of doing business as th

Indian Start up Develops Specialised Robots to Clean Petrochemical Tanks

Asia's richest man Gautam Adani's group is eyeing petrochemical and mining projects in Azerbaijan as the ports-to-energy conglomerate looks to expand the business beyond Indian shores. Adani met Azerbaijan President Ilham Aliyev in Davos last week, according to a statement from the office of the President of Azerbaijan. "During the conversation, the parties discussed Azerbaijan's attractiveness for foreign direct investments, the development of the country's economy, and the prospects for cooperation with the Adani Group in petrochemical, mining and metallurgical industries, as well as other areas of mutual interest," it said. Adani, in recent years, is on a rapid diversification spree, expanding an empire centred on ports and coal mining to include airports, data centres and cement as well as green energy. A first-generation entrepreneur, Adani, 60, founded the Adani Group in 1988 as a trading company, and its interests now span real estate, ports, airports, power generation, green

Penn Globe is a market leader in foam control agents and chemical products

RIL is a key beneficiary of energy inflation, with every $1 per barrel improvement in annualised refining margins adding an estimated $400-450 million to RIL's consolidated Ebitda, Jefferies said

Ties up Rs 4,016 crore term loan from SBI-led consortium

Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities

A DTA setup enables a company to set up manufacturing units that cater to the domestic market, while an SEZ unit is meant only for exports

---Pointer table is not needed---State-run Oil and Natural Gas Corporation (ONGC) is likely to revise the terms of the much-hyped production enhancement plan for 64 oil and gas fields, after concerns raised by prospective bidders over the operating cost and other bidding criteria.According to multiple sources, at least 14 of the 23 companies that participated in the pre-bid meeting on September 17 had asked for "compensation covering the operating cost to be borne by the contractor related to the baseline production". Following this, the Directorate General of Hydrocarbons (DGH) and ONGC have decided to revise the contract terms. It was in February this year that the Union Cabinet had cleared the handing over of 66 discovered marginal oil and gas fields by ONGC and Oil India (OIL) to private players. Industry sources said the revised terms might have to be again cleared by the Cabinet. A government official, however, said, "The process does not need any Cabinet clearance, as the ...

Despite near-tripling in plastic waste collection by 2050, the limited availability of cost-effective substitutes for oil feedstock means that oil demand for petrochemicals remains resilient

In addition, IOCL, BPCL and HPCL signed a pact to carry out pre-project activities for setting up refinery-cum-petrochemical complex with 60 MMTPA capacity in Maharashtra

The contract, worth CZK 700 million (about $ 29 million), is part of new polyethylene unit project (PE3), the biggest investment in the history of the Czech petrochemical industry