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

Indian compounder Welset expands in PVC, masterbatches

March 26, 2015 6:00 am ET

Indian compounder Welset Plast Extrusions Ltd. (Booth S20059) is spending 60 crore rupees ($975,000) to expand capacity in PVC materials for the...    More

Image

RheTech adding extrusion line

March 26, 2015 9:16 am ET

John Levinson, President of RheTech Inc., which was recently acquired by Swedish rubber compounder Hexpol AB, was positive about the...    More

Image

Sabic adding more Ultem capacity

March 26, 2015 1:24 pm ET

Sabic Innovative Plastics will add more than 700 million pounds of material production capacity in the next five years — including a 30 percent ...    More

Image

DuPont exec: Still lots of lightweighting needed in the auto industry

March 23, 2015 6:00 am ET

In that role, Jeffrey Sternberg is responsible for bringing the breadth of DuPont advanced materials — as well as renewably sourced materials...    More

Image

Survey: New resins required to meet evolving industry needs

March 23, 2015 9:14 am ET

The work of materials firms is far from over, according to the results of a recent survey conducted by DuPont Co. and Plastics News.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events