Latest Oleochemical News
Malaysia’s end-April palm oil hit five-month high on output rise, up by 7.07% from the previous month to 1.55 million tons, data from industry regulator Malaysian Palm Oil Board (MPOB) showed.
UPM reported a fire at its 130,000 ton/year UPM Lappeenranta Biorefinery in Finland in the early morning hours on Monday, the company said in a press release.
Azelis, a speciality chemicals and food ingredients distributor based in Luxembourg, signed an agreement to acquire 100% of the outstanding shares of Vigon International, a US specialty distributor and manufacturer of ingredients for the flavors, fragrances, and cosmetics market segments based in Pennsylvania.
Hexion Completes Sale of Phenolic Specialty Resins, Hexamine and European Forest Products Businesses to Black Diamond and Investindustrial
Hexion, a thermoset resins company based in Ohio, announced last week that it has completed the sale of its Phenolic Specialty Resin, Hexamine and European-based Forest Products Resins businesses to the alternative investment firm Black Diamond and Investindustrial, a European group of independently managed investment, holding and advisory companies.
Repsol, an energy company headquartered in Spain, has announced that it will join the Ecoplanta Molecular Recycling Solutions (Ecoplanta) project, together with Canadian gasification technology developer Enerkem and Sociedad General de Aguas de Barcelona (Agbar), a global expert in water and waste management, to build a waste-to-chemicals (WtC) plant in Tarragona, Spain.
Neste, Finland-based renewable transportation fuels and products producer, will modify its existing renewables production capacity at its biorefinery in Rotterdam, the Netherlands, to enable the production of sustainable aviation fuel (SAF) from waste and residue raw materials.
Brazil’s 79th biodiesel auctioned 1.05bn liters to meet the B10 biodiesel blend planned for May and June, the National Petroleum, Natural Gas and Biofuels agency (ANP) said.
Malaysia has kept its May export duty for crude palm oil at 8%, though it raised the reference price, a circular on the Malaysian Palm Oil Board website showed earlier this month.
Louisiana Green Fuels, a subsidiary of Strategic Biofuels, announced on Friday plans to build a $700m renewable diesel plant that could produce up to 32m gallons/year of renewable fuel using wood waste as the feedstock.
Phillips 66, headquartered in Houston, has secured feedstock for the company’s renewable fuels projects by investing in a new soybean-processing plant in Iowa.
Soybean futures neared a seven-year high as surging demand supported cash markets and attracted speculative buying, analysts said.
Samat Nordic Oy, the Finnish subsidiary of the French Groupe Samat, has announced their €15M investment in Finland’s Hamina port.
Malaysia’s palm oil exports to India have increased compared to the previous year, leaving Indonesia as the second largest palm oil exporter to the country.
Malaysia palm oil production for the marketing year September 2020 to August 2021 was lowered as weather and labour issues slowed output, according to a recent key oilseeds outlook report.
Malaysia’s end-March palm oil stocks rose more than expected, up by 10.7% from the previous month to 1.45 million tons, data from industry regulator Malaysian Palm Oil Board (MPOB) showed on Monday.
Global demand and export for palm oil products will see a strong recovery during the next three months as China and India will need to restock amid depleted inventories.
A La Nina weather event has turned inactive, Australia’s weather bureau said last week, ending a six-month spell of greater rainfall and cooler than average temperatures across South East Asia.
Sri Lanka banned imports of palm oil and new palm plantations with immediate effect on Monday and told producers to remove existing plantations in a phased manner, replacing them with environmentally friendly crops.