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Building a methanol unit at the plant in Bishop near Corpus Christi would be the latest move by the Dallas-based chemical company to capitalize on an abundance of cheap U.S. shale gas.
Craft laborers require years of training, but the industry has failed to consistently invest in developing that workforce, leading to a worker shortage plaguing the petrochemical building spree.
Dow has been under pressure from the hedge fund Third Point LLC to split its specialty chemical and petrochemical businesses.
North American chemical companies have seen their revenues slip with the plunging crude price, but they aren’t expected to abandon the billions worth of expansions they announced when profits were higher, a new report finds.
LyondellBasell’s chemical expansion announcement comes as the international chemical and refining company continues to square off with the United Steelworkers employees over premium pay issues.
Saudi Arabia, the world’s largest crude exporter, started the petrochemical project in 2011 when oil averaged $111 a barrel.
Lyondell did not mention an industry-wide labor strike by United Steelworkers that sent union members picketing the company’s U.S. headquarters in downtown Houston.
Nine environmental groups sued to force the EPA to make a decision on a petition asking the agency to require oil and gas producers to disclose toxic chemical emissions.
Chemical company LyondellBasell Industries tapped Bhavesh V. “Bob” Patel, an executive vice president with the company, to serve as its new executive officer, the company announced Thursday morning.
The industry grew by 2 percent this year and is expected to swell further next year as advances in drilling and completion technologies unlock vast new supplies of hydrocarbons that chemical companies rely on to make products and fuel their plants.