Canadian company Pembina Pipeline Corp. says it is going ahead with a $4.5-billion joint venture with Kuwait's Petrochemical Industries Co. to build an integrated propane dehydrogenation plant and polypropylene upgrading facility northeast of Edmonton.
The project to turn propane into plastic will help deliver world prices to land-locked western Canadian oil and gas producers, CBC reported.
The plants' plastic pellets will be sent by rail and shipping containers to manufacturers around the world to be turned into recyclable products used in automobiles, medical devices, food packaging and home electronic appliances.
"Sanctioning of the PDH/PP facility is the largest step taken to date by Pembina in executing its strategy to secure global market prices for customers' hydrocarbons produced in Western Canada, and provides another exciting platform for future growth," said Pembina CEO Mick Dilger in a news release.
Petrochemical Industries CEO Mohammed Abdullatif Al-Farhoud added in the same release that the facility is "ideally aligned with PIC's continued pursuit of sustainable and globally diversified growth."
Noori Petrochemical Plant, whose stocks were quoted in the Iranian stock market in its initial public offering (IPO), broke a new record as over 560,00 traders were involved in trading its shares on Saturday.
Continued strong global demand for steelmaking coal, especially in China and India, may be behind two new coal mine proposals in Canada’s British Columbia province.
An Iranian vessel used in oil and gas industry which had been seized by Kuwait Coast Guard, was released on Sunday after 10 months.
Two of South Korea's biggest conglomerates are joining forces to build new C4 fractionation and bisphenol A (BPA) chain plants on the country's southern coast.
Quartz tourmaline breccia has been identified as indicative of porphyry systems at Jaxon Mining’s (TSXV: JAX) Red Springs project in western Canada.
While the prices for key battery minerals such as lithium, cobalt, nickel, rare earth elements, graphite and copper have so far been subdued in 2019, the general excitement about the future wide adoption of electric vehicles continues to fuel activity amongst Canada’s battery mineral juniors. Here is a look at eight such companies: