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

Prices trending up for some recycled resins

July 24, 2014 1:27 pm ET

Plastics News is correcting prices for recycled grades of several commodity resins on this week's resin pricing chart.    More

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Image

US Bioplastics receives funding to bring Gatoresin to the market

July 24, 2014 1:44 pm ET

Materials maker U.S. Bioplastics is hoping its Gatoresin product will take a bite out of the bioplastics market, thanks to funding from a state...    More

Image

BASF posts growth in second quarter

July 24, 2014 11:08 am ET

German chemical giant, BASF SE, has announced a 1 percent growth in sales for the second quarter of 2014 compared to the same period in...    More

Image

Bayer PC used for lightweight, durable luggage collection

July 24, 2014 10:52 am ET

Bayer MaterialScience has partnered with U.S.-based travel goods manufacturer Andiamo Luggage LLC to create a special plastic for suitcases that is sc...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

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

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

More Events