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...But leading oil producers including Saudi Arabia are betting that petrochemical demand will continue to rise even if demand for petrol-driven vehicles falters, and it is investing in Chinese petrochemical...
...Last week, it announced a partnership with petrochemicals group Idemitsu Kosan to jointly develop and produce a sulphide electrolyte, which it said would be key to commercialisation within five years....
...But Oxy is now generating more free cash flow than ever. Analysts expect it to pay its once-crippling debt load down to pre-deal levels by next year....
...“Buffett’s Oxy investment has been a home run so far,” said Andrew Gillick, strategist at consultancy Enverus....
.... ©2022 Nikkei Inc. All rights reserved....
...Ineos, owned by Jim Ratcliffe, has a sprawling business spanning petrochemicals, refineries and oil and gas production....
...Apple is battling with the same problem that has shaken global industries from petrochemicals suppliers to consumer brands....
...The company meanwhile spent $69bn buying 70 per cent of Sabic, the kingdom’s petrochemical business. It plans to shell out a further $170bn in capital spending. Investors have qualms....
...A version of this article was first published by Nikkei Asia on December 8 2021. ©2021 Nikkei Inc....
...A version of this article was first published by Nikkei Asia on May 12. ©2022 Nikkei Inc. All rights reserved....
...Prices have also surged because of the DIY boom during lockdowns and scarcity of supplies after extreme weather events in Texas and Louisiana took out production at petrochemical plants that produce the...
...A version of this article was first published by Nikkei Asia on September 29 2021. ©2021 Nikkei Inc. All rights reserved....
...A version of this article was first published by Nikkei Asia on June 13, 2021. ©2021 Nikkei Inc. All rights reserved....
...But the demands also largely mirrored those made by international investors for years as they have struggled to unshackle Korea Inc from opaque corporate governance structures common among the chaebol....
...Reliance Industries, historically a petrochemicals and oil refinery business, which is India’s biggest bricks-and-mortar retailer, has shaken up India’s telecoms market after launching 4G services that were...
...In transforming Reliance from a conglomerate built on yesterday’s “black gold” of petrochemicals to one geared towards future riches derived from data and connectivity, Mr Ambani has made the group the only...
...Over the past decade companies such as Dow and LyondellBasell pledged more than $200bn to construct vast petrochemicals complexes that transform ethane into the basic building blocks for materials like plastics...
...Abu Dhabi is also eyeing investment of $45bn with international partners to develop refining and petrochemicals, including building the world’s largest integrated production facility in the town of Ruwais...
...As well as raising its “upstream” exploration and production capacity, the company is investing $45bn in petrochemicals and refinery expansion to reorient the economy and create thousands of jobs....
...(FT) News round-up BP agrees $5bn sale of petrochemicals business to Ineos (FT) Bharti Enterprises emerges as key investor in UK’s OneWeb bid (FT) Shale pioneer Chesapeake Energy files for bankruptcy...
...If it succeeds in strengthening the group, it will help Japan Inc find its way back into the global race to deploy 5G networks and future mobile technologies....
...Set up in 1971 to finance domestic projects and act as “custodian” of government stakes in companies, including Sabic, the petrochemicals group, and Saudi Telecom, it had about 40 staff and was largely dormant...
...Oxy’s stock was down 6 per cent....
...Taufan left his petrochemical job in Abu Dhabi just over a year ago to answer what he felt was his true calling....
...Mr Mike said they will offer services to the 120 Japanese companies operating in Saudi Arabia in sectors such as petrochemicals....
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