Sunoco to sell Ohio phenol plant

(Plastemart) -- Sunoco, Inc. has reached a definitive agreement to sell its phenol manufacturing facility in Haverhill, Ohio, to Haverhill Chemicals LLC, an affiliate of Goradia Capital LLC. The transaction is subject to regulatory approval and customary closing conditions and is expected to be completed by the end of 2011.

Sunoco will sell the facility and the estimated value of the product inventory attributable to the facility for a combined purchase price of approximately USD 106.5 mln. The purchase price is subject to adjustment based upon the product inventory on hand at the closing. Sunoco incurred a pretax non-cash charge of USD 169 mln related to the write-down of Haverhill assets in the Q2 of 2011.

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(Reuters) - South Korea's Daelim Industrial is the front runner for deals to build parts of a giant petrochemical complex owned by state oil giant Saudi Aramco and U.S. Dow Chemical , industry sources said.

Daelim submitted the lowest bid for the construction projects, which include production for toluene di-isocyanate (TDI), methylene di-para phenylene isocyanate (MDI), dinitrotoluene (DNT), mononitrobenzene (MNB), analine, formaline, sources said.

Aramco and Dow are spending USD 20 billion on the venture - Sadara Chemical Co - to build one of the world's largest petrochemical facilities in Jubail, on the Gulf coast.

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(Fluor) -- Fluor Corporation has been awarded an engineering, procurement and construction (EPC) contract by SAPCo, a joint venture company being formulated between Saudi Acrylic Acid Company and Evonik Industries, for its Super Absorbent Polymer Project (SAP) in Jubail, Saudi Arabia. Fluor booked the undisclosed contract value in the second quarter of 2011.

The SAP project work is under way and is expected to be completed and commissioned by the fourth quarter of 2013. The end product, super absorbent polymer, is used in the manufacture of disposable diapers. This SAP project is part of a larger program being developed by Saudi Acrylic Acid Company, for which Fluor has been engaged since the early developments of the project.

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(Arabian Oil and Gas) -- The Qatargas-operated Laffan Refinery Company has awarded a lump sum Front End Engineering Design (FEED) Contract for the Refinery's Phase 2 expansion to Technip. Phase 2 will increase the current refinery capacity to enable Qatar to meet all of its Naphtha, Diesel, LPG and Kerojet requirements.

The FEED study is scheduled to be completed by the first quarter of 2012 and will be executed by Technip engineering center in Paris, France. The Engineering, Procurement and Construction (EPC) contract is expected to be awarded by the third quarter of 2012.

Laffan Refinery venture manager Salman Ashkanani, said: ⌠The new expansion project will double the existing capacity of the Laffan Refinery to 292,000 BPSD (barrels per stream day) and the facility will be fully operational by the first Quarter of 2016, playing a central role in Qatar's new energy mix and its 2030 vision.

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(PRNewswire) -- LyondellBasell today announced that its Management Board has declared a dividend of USD 0.20 per share payable on Sept. 7, 2011 to shareholders of record on Aug. 17, 2011. The dividend is double the amount of the company's initial dividend paid in May 2011. The company's Supervisory Board authorized the Management Board to declare a dividend on Aug. 3.

LyondellBasell is one of the world's largest plastics, chemical and refining companies. The company manufactures products at 58 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.

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