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

China's Zhongtai Chemical calls off large-scale PVC project

September 12, 2014 2:16 pm ET

Accepting the gloomy reality of the PVC market, Xinjiang Zhongtai Chemical Co. Ltd. has officially canceled a 800,000-ton PVC resin project and...    More

Image

Parx launches production of Saniconcentrates antibacterial polymers

September 12, 2014 11:11 am ET

Parx Plastics has achieved commercial production of its Saniconcentrates-brand line of antibacterial polymers.    More

Image

Germany's Lehmann & Voss buys U.S.-based Performance Compounding

September 12, 2014 11:36 am ET

German compounding firm Lehmann & Voss & Co. KG has acquired Performance Compounding LLC for an undisclosed price.    More

Image

PolyOne says its TPE won't irritate skin in wearable electronics

September 12, 2014 10:58 am ET

PolyOne Corp.'s GLS thermoplastic elastomers unit says its Versaflex CE 3620 compounds have met all ISO 10993-10:2010 testing requirements with no...    More

Image

PET bottle resin price climbs 2 cents

September 11, 2014 3:31 pm ET

North American PET bottle resin prices increased by an average of 2 cents per pound in August, due in part to a shortage of purified terephthalic acid...    More

Market Reports

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

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

Upcoming Plastics News Events

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

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

More Events