Petronas and BASF terminate joint venture

By Gurdip Singh
Correspondent

Published: January 21, 2013 1:54 pm ET
Updated: January 21, 2013 1:56 pm ET

Related to this story

Topics Materials Suppliers
Companies & Associations BASF SE

KUALA LUMPUR, MALAYSIA -- Malaysian national oil corporation Petronas, said it has mutually agreed to terminate an agreement with BASF SE to form a specialty chemicals venture.

"Both parties were unable to come to an agreement on the terms and conditions for the implementation of the proposed venture," Petronas said in a Jan. 21 statement.

The companies had signed a deal on March 5 to develop, construct and operate production facilities for a host of specialty chemical products in Petronas' integrated product, dubbed RAPID, in Pengerang.

Petronas and BASF remain committed to continuing their existing long-term partnership at BASF Petronas Chemicals in Gebeng Industrial Zone in Kuantan.

The multi-billion dollar RAPID project, comprising an ambitious refining and downstream product processing, is still in the early stages of development.


Comments

Petronas and BASF terminate joint venture

By Gurdip Singh
Correspondent

Published: January 21, 2013 1:54 pm ET
Updated: January 21, 2013 1:56 pm ET

Post Your Comments


Back to story


More stories

Image

Design, materials, engineering finding a faster way forward

August 27, 2014 1:50 pm ET

Engineering and design specialists at Altair Thinklabs and Eastman Chemical Co. have developed prototypes that would not just help Paralympics...    More

Image

Higher profits and rising blood pressure

August 27, 2014 12:19 pm ET

Company CEOs are typically big supporters of capitalism and the free market, and they should be. It's a great system for raising the standard of...    More

Image

How's the media treating plastics these days?

August 27, 2014 10:49 am ET

In my daily searches for breaking news, I tend to come across a lot of interesting stories about plastics that don't really fit anywhere specifically,...    More

Image

Sony entering recycled PC market

August 27, 2014 11:08 am ET

Consumer electronics giant Sony Corp. is getting into a sideline of selling recycled resins.    More

Image

Nova expanding PE research center

August 26, 2014 1:36 pm ET

Nova Chemicals Corp. has broken ground on an expansion of its polyethylene research center in Calgary, Alberta.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events