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4:59 AM, 28th November 2015

Pertamina, Saudi Aramco to jointly upgrade Indonesian refinery

JAKARTA, INDONESIA: PT Pertamina said that it has joined hands with state-owned oil company of Saudi Arabia, Saudi Aramco, in a $5.5 billion deal for joint ownership, operation and upgrade of the Cilacap refinery in Central Java as a part of Pertamina’s refinery development master plan (RDMP). The completion of the refinery upgrade is scheduled for 2021 with the basic engineering design study for the upgrade expected to commence soon and be completed in 2016. The front-end engineering de ...



10:13 AM, 30th October 2015

Samsung sells chemical businesses to Lotte for $2.6 billion

SEOUL, SOUTH KOREA: Samsung Group sells its chemical business units to Lotte Group for about $2.6 billion, as part of its plans to consolidate businesses. Inking deals with hometown rival business tycoons has been an occasional choice for Samsung, which has managed to sell off its less important assets at reasonable prices. Under the deal, Lotte Chemical Corp a petrochemical company controlled by Korean-Japanese conglomerate Lotte, will acquire a 90 percent stake in Samsung SDI Co’s chem ...

6:30 AM, 28th October 2015

New strategy helps to practically use solid oxide fuel cells

SENDAI, JAPAN: Solid oxide fuel cells (SOFC), recently used as a power source for households in Japan, have several drawbacks such as high-cost, material degradation and long start-up time derived from high operating temperatures up to 750°C. Lowering the operating temperature to an "intermediate" range of 300-500°C would, in effect, enable the use of low-cost materials and allow for a quicker start-up which, in turn, could lead to wider commercial use and application to a mobile power ...

4:28 AM, 28th October 2015

Shin-Etsu invests ¥20 billion to expand silicones business in Japan

TOKYO, JAPAN: Shin-Etsu Chemical Co said it plans to proactively expand its silicones business, one of its main businesses, by implementing facility investments in Japan totalling ¥20 billion. Each new facility is scheduled to be completed by March of 2017. At its Gunma complex, its largest production base in Japan, it will invest ¥5 billion to construct a new research building adjoining its existing Silicone-Electronics Materials Research Centre, aiming to start operations in the sprin ...

4:48 AM, 27th October 2015

Encanto signs MOU with India’s Metals and Minerals Trading Corp

VANCOUVER, CANADA: Encanto Potash Corp said it has entered into a memorandum of understanding (MOU) with Metals and Minerals Trading Corporation of India (MMTC). The MOU is to define the framework for a long term supply arrangement for Muriate of Potash. The Indian government has taken over the overall negotiations and decided that MMTC, with a market capital nearly double that of Rashtriya Fertilizer Corp (RCF), would be a more suitable entity for these negotiation. MMTC Ltd of India, a publi ...

4:40 AM, 27th October 2015

China’s Sinopec to buy $3 billion chemical plant

BEIJING, CHINA: Chinese state energy giant Sinopec Corp is to buy Dragon Aromatics, a petrochemical firm which is one of the country’s biggest chemical plants. The discussions come after the independent petrochemical firm suffered a second major fire in less than two years at the $3 billion plant in Fujian and sources said local authorities want Sinopec to participate before allowing the plant to reopen. The tough line shows how Beijing is putting pressure on provinces to ensure better in ...

10:41 AM, 26th October 2015

South Korea's S-Oil sees higher demand for oil products

SEOUL, SOUTH KOREA: South Korea's S-Oil Corp said that it expected global demand for refined oil products to continue to grow in the fourth quarter and next year. S-Oil, whose main shareholder is Saudi Aramco, reported a 12.4 billion won ($10.97 million) operating income in the third quarter, compared with 606.2 billion won in the second quarter, due to lower refining margins and inventory related losses. But operating income rebounded from a 38.3 billion won loss a year ago. "The fourth-quar ...

10:02 AM, 26th October 2015

DuPont establishes new innovation hub in Singapore

SINGAPORE: DuPont said it will establish a new innovation and business headquarters in Singapore. The 11,000-square-metre facility will open in 2016 and house nearly 200 scientists, engineers and business leaders. DuPont Singapore ASEAN headquarters will focus on delivering new innovations tailored to meet the unique needs of the ASEAN marketplace. “DuPont’s powerful innovation pipeline is driven by our unique combination of science and engineering, strong execution and global reac ...

9:50 AM, 26th October 2015

Ayurvedic, homeopathic medicines' clinical trials begin

NEW DELH, INDIA: In a bid to lend authenticity to traditional medicines, the government has started clinical testing of various ayurvedic and homeopathy medicines on patients suffering from different tropical diseases such as dengue, malaria and some of the viruses causing seasonal influenza. These clinical trials are being conducted in some government as well as private hospitals, a senior official in the ministry of ayurveda, unani, siddha and homeopathy (AYUSH) said. He added, presently the ...

8:47 AM, 17th October 2015

“India has not leveraged Ayurveda treasure trove”

BENGALURU, INDIA: India has not leveraged the treasure trove of ayurveda in a scientific way, Biocon chief Kiran Mazumdar-Shaw said. “One of the big problems is that the outside world views us in a much better way than we view ourselves,” she said. “This year’s Nobel Prize, for instance, went to number of scientists in medicine for malaria, river blindness, and one of them was none other than a Professor Youyou Tu who was really not a medical or PhD or any one of those p ...

6:22 AM, 17th October 2015

IISc professor Nagaraja takes charge as JNCASR president

BENGALURU, INDIA: Professor Valakunja Nagaraja from the department of micro and cell biology of the Indian Institute of Science (IISc), took charge as the president of interdisciplinary research institute Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR). Nagaraja, whose appointment has been cleared by the appointments committee of the cabinet, government of India, took over from prof K S Narayan, who was holding interim charge at the institution. Narayan was the first facult ...

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