27-04-2025
Wanhua Chemical signs JV agreement with Petrochemical Industries Company
On April 25, Wanhua Chemical formally signed a joint venture agreement with Petrochemical Industries Company. Under the terms of the agreement, PIC invested USD 638 million to acquire a 25% equity stake in Wanhua Chemical Petrochemical Co., Ltd.
The signing ceremony was witnessed by leaders from both parties, including Zengtai Liao, Chairman of Wanhua Chemical Group, and Shaikh Nawaf Al Sabah, Deputy Chairman and CEO of Kuwait Petroleum Corporation. The agreement was formally executed by Guangwu Kou, President of Wanhua Chemical Group, and Nadia Al Hajji, CEO of Petrochemical Industries Company.
This strategic partnership represents a significant milestone in the longstanding collaboration between Wanhua Chemical and PIC, ushering in a new chapter of mutual growth and innovation. The two companies will combine their industrial strengths and resource advantages, unlocking new avenues for cooperation across a wider range of sectors and deeper levels of synergy. This collaboration is expected to elevate global petrochemical industry development while driving economic growth and setting a new benchmark for international cooperation in the sector.
News Category:
-
Maximizing Performance in Oil & Gas with Real-Time Analytics
(Webinar) - In an industry shaped by fluctuating market conditions and tight operational margins, oil & gas producers are increasingly relying on data-driven strategies ...
11-06-2025
-
Unlocking the potential of waste for advanced conversion pathways
(Webinar) - This session offers a detailed exploration of HTW® gasification technology, a proven solution for converting diverse feedstocks into clean syngas, which ...
05-06-2025
-
hte and Heraeus Precious Metals collaborate on catalytic ammonia cracking
hte and precious metals specialist Heraeus Precious Metals signed a R&D service agreement. The main focus of this collaboration is the screening of different materials ...
20-05-2025
-
EDL Anlagenbau and Nuberg EPC collaboration to drive sustainable solutions
Nuberg EPC, headquartered in Delhi NCR, India, an engineering and industrial conglomerate and EDL Anlagenbau Gesellschaft mbH, based in Leipzig, Germany, one of the leading ...
20-05-2025
-
hte strengthens cooperation with Mitsubishi Chemical
hte – the high throughput experimentation company signed a contract with Mitsubishi Chemical to provide research services for the screening of MMA oxidation catalysts. ...
16-05-2025
-
ADNOC deepens energy partnerships with US Energy companies
ADNOC today announced multiple agreements with United States energy majors during the United Arab Emirates business dialogue with US President Donald J. Trump. The agreements ...
16-05-2025
-
VTTI moves to next phase for project Amplifhy following strong market interest
VTTI, a global leader in energy storage and infrastructure, is pleased to announce that following a strong market response to its request for expressions of interest, ...
15-05-2025
-
ABB selected as main automation contractor for one of the first industrial CCS clusters in the UK
ABB has been selected by integrated global energy company Eni as the main automation contractor for HyNet, one of the UK’s first industrial decarbonisation clusters ...
14-05-2025
-
Univation Technologies announces the next-generation of the UNIPOL™ PE process platform
Univation Technologies, LLC announces the next-generation of the UNIPOL™ PE Process platform with its newest world-scale licensed capacity offering of an 800,000 tonnes ...
12-05-2025
-
thyssenkrupp Uhde successfully commissions EnviNOx® emission reduction system
thyssenkrupp Uhde is proud to announce the successful commissioning of its EnviNOx® system for Covestro Polymers (China) Co. Ltd. at their nitric acid plant in Shanghai ...
12-05-2025