Latest Oleochemical News
Chevron JVs With Bunge to Secure Renewable Fuel Feedstocks
Chevron and Bunge announced September 2 a memorandum of understanding (MOU) of a proposed 50/50 Joint Venture (JV) to help meet the demand for renewable fuels and to develop lower carbon intensity feedstocks.
Indonesia Crude Palm Oil Export Tax 13% Higher in September
Indonesia has raised the crude palm oil (CPO) export tax to $166/mt for September, up from $93/mt in August, an official document on its trade ministry website showed.
Indonesia’s Three-year Palm Plantation Ban Ends in September
Indonesia, the world’s largest palm oil producer, introduced a three-year freeze on plantation permits that expires in September 2021.
Imperial to Produce Renewable Diesel at Strathcona Refinery
Imperial Oil, a Canadian petroleum company based in Alberta, plans to construct a renewable diesel complex at its Strathcona refinery near Edmonton, Alberta, the company said on August 25.
Maersk Accelerates Switch to Carbon Neutral Operations
A.P. Moller-Maersk will introduce eight large ocean-going container vessels capable of being operated on carbon neutral methanol to accelerate the decarbonisation of its fleet and meet increased customer demand for greener transportation, the company announced August 24.
Marathon JVs With ADM to Secure SBO Supply for Renewable Diesel Production
Marathon Petroleum, an energy company headquartered in Findlay, Ohio, announced August 19 an agreement to form a joint venture (JV) with ADM to produce soybean oil (SBO) to supply rapidly growing demand for renewable diesel fuel.
Sime Darby Plantation and PTTGC Divest of Asia Pacific Emery Businesses
Sime Darby Plantation and PTTGC International have divested their 100% collective interest in the Asia Pacific business of Emery Oleochemicals and Emery Specialty Chemicals to Edenor Technology for RM38 million.
India Designates $1.48 Billion to Boost Domestic Palm Oil Production
India has allocated 110 billion rupees ($1.48 billion) to increase domestic palm oil production to 2.8 million tons by 2029-30 through the recently approved National Mission on Edible Oils – Oil Palm (NMEO-OP), Agriculture & Farmers Welfare Minister Narendra Modi said on August 18.
Malaysia Maintains 8% Crude Palm Oil Export Duty for September
Malaysia has kept its September export duty for crude palm oil (CPO) at 8%, although it rose the reference price, a circular on the Malaysian Palm Oil Board website showed on August 18.
Indorama Acquires Brazilian Oxiteno for $1.3bn
Indorama, a global petrochemicals producer based in Thailand, announced on Aug. 16 it has agreed to acquire Brazil-based Oxiteno, a subsidiary of Ultrapar Participações for $1.3bn with a deferred payment of $150 million in 2024.
China, Brazil See Mixed Pine Chemicals Price Direction at Mid-August
China and Brazil are seeing mixed prices for pine oleoresin, gum rosin and gum turpentine at mid- August as China is nearing peak harvest season and Brazil is seeing shipping slow down.
Malaysia End-July Palm Oil Stocks Fall by 7.3%
Malaysia’s end-July palm oil stocks fell for the first time in eight months lower by 7.3% from the previous month to 1.5 million tons, data from industry regulator Malaysian Palm Oil Board (MPOB) showed on August 11.
Calumet Progressing on Great Falls, Montana Renewable Diesel Project
Calumet Specialty Products Partners, an independent producer of hydrocarbon products headquartered in Indiana, is seeing “excellent progress” at its hydrocracker conversion project to produce renewable diesel in Great Falls, Montana, the company said in its second-quarter earnings call.
Paraná River Low-Water Levels Worsen
The Paraná River, one of the main commercial waterways in South America, reached -0.28 meters (11 in. below sea level) at the Port of Rosario on August 9, the lowest level recorded since 1944.
CVR Energy Delays Renewable Diesel Conversion at Oklahoma Refinery
CVR Energy, a petroleum refiner based in Sugar Land, Texas, will delay plans to complete a renewable diesel conversion project at its Wynnewood, Oklahoma, refinery amid high feedstock prices, Chief Executive, David Lamp said in a second-quarter earnings conference call on August 3.
SEA Production Disruptions Keeping Firm Pressure on CPO Prices
Crude Palm Oil (CPO) prices have soared due to concerns about production disruptions as a result of the coronavirus pandemic in the world’s two largest palm oil producing countries.
Large Explosion Reported in at Chemical Park in Leverkusen, Germany
A large explosion with at least two fatalities and multiple injured was reported on Tuesday at a chemical park in Leverkusen, Germany, according to a statement published by Currenta, the company that manages Chempark.
Malaysia Maintains 8% Crude Palm Oil Export Duty for August
Malaysia has kept its August export duty for crude palm oil (CPO) at 8%, although it lowered the reference price for the first time in 13 months, a circular on the Malaysian Palm Oil Board website showed on 23 July.