Communicator

INEOS' Project One site in Antwerp has already received its first major ‘landmark’: the ethane tank | INEOS, 5 June 2024

Antwerp, Belgium – June 10, 2025

INEOS has officially announced that its landmark €4 billion Project ONE ethane cracker in the Port of Antwerp has reached 70% completion, marking a major milestone for what is described as Europe’s largest chemical investment in a generation.

The announcement was made during a site visit by Belgian Prime Minister Bart De Wever, hosted by INEOS Chairman Sir Jim Ratcliffe. The event highlighted the scale and significance of the
project, which now employs over 2,500 workers on site as construction activity peaks.

"The visit marks a significant milestone for the project, which has now reached 70% completion and employs over 2,500 people on site. Construction is progressing at full pace, with major equipment, including giant furnaces and modular plant components, already installed. Civil works are nearing completion, and utility integration is well underway,” the official INEOS statement reads.

Commissioning and Outlook

Commissioning of Project ONE is scheduled to begin in autumn 2025, with mechanical completion anticipated by the end of 2026. Start-up of the facility is targeted for early 2027. The project is expected to create 450 high-quality permanent jobs and thousands more during the construction phase.

Sustainability and Innovation

Project ONE is designed to set new standards for sustainability in the European chemical sector. The ethane cracker will have a carbon footprint less than half that of the best-performing steam crackers in Europe, thanks to advanced technologies such as ultra-low NOx burners and the capacity to operate on low-carbon hydrogen from day one. The facility will be able to meet 60% of its heat demand with low-carbon hydrogen, with the potential to switch to 100% hydrogen as supply becomes available.

Strategic Importance

Sir Jim Ratcliffe emphasized the project’s strategic importance for Europe’s industrial future, noting that Project ONE is the first new cracker in Europe in a generation. Prime Minister Bart De
Wever praised the project’s progress and its role in reducing CO₂ emissions while supporting the region’s prosperity.

Conclusion

With 70% of construction completed and commissioning on the horizon, Project ONE is on track to transform the industrial landscape of Antwerp and set a benchmark for sustainable chemical production in Europe. The project continues to attract attention as a model for innovation, sustainability, and economic growth in the region.

#cracker  #steamcracker  #gascracker  #projectone  #ineos  #belgium  #antwerp  #technip 

The Berre petrochemical plant is one of the sites involved in exclusive sales negotiations between LyondellBasell and Aequita | PHOTO: Frédéric SPEICH, La Provence

LyondellBasell’s (LYB) agreement to divest four major European production sites to AEQUITA marks a pivotal moment not only for the company but for the continent’s entire petrochemical sector. The transaction, encompassing plants in France (Berre), Germany (Münchsmünster), the UK (Carrington), and Spain (Tarragona), is emblematic of a broader industry shift as producers grapple with persistent overcapacity, high costs, and the need for structural transformation.



LyondellBasell Transaction Footprint | Jun 5, 2025 | LyondellBasell Investors Presentation

Strategic Rationale: From Rationalization to Refocus

LYB’s decision to sell these assets is rooted in a deliberate strategy to sharpen its operational focus and enhance profitability. The divested sites, which together account for roughly 1.4 million tonnes per year of polyolefins and olefins output, have delivered only modest returns while consuming significant capital—averaging €110 million in annual capex from 2020 to 2024. By transferring these facilities to AEQUITA, LYB expects to reduce its fixed costs by approximately €400 million per year and reallocate capital toward its most competitive and sustainable European operations.

Notably, this move is not an isolated event. LYB’s review initially spanned six sites, including Brindisi (Italy)—where one polypropylene plant has already been shuttered—and Maasvlakte (Netherlands), a joint venture (with Covestro) asset not included in the AEQUITA deal. This highlights the depth of LYB’s strategic review and underscores the scale of rationalization underway across the region.

Industry Context: A Wave of Closures and Consolidation

LYB’s asset sale is part of a much larger trend. European petrochemical producers are facing unprecedented headwinds: high energy costs, aging infrastructure, tightening environmental regulations, and lackluster demand. Other industry leaders, such as ExxonMobil, Sabic, and Indorama Ventures, have also closed or downsized European operations in the past year. Ultimately, up to half of the continent’s ethylene crackers could ultimately face closure, as the economics of small, old plants become increasingly untenable.

This rationalization wave is not simply a response to cyclical weakness but a recognition of structural change. Freight disruptions and temporary supply shocks have only delayed the inevitable need for consolidation and transformation.


LyondellBasell' Assets for Sale | Jun 5, 2025 | LyondellBasell Investors Presentation

Deal Structure and Financial Terms

The transaction with AEQUITA is structured to enable a smooth transition:

• LYB will contribute €265 million (of a €275 million carve-out support fund) to facilitate the separation, with AEQUITA providing €10 million.
• LYB stands to receive up to €100 million in earnouts over three years.
• AEQUITA will assume approximately €150 million in pension and employee liabilities, as well as all environmental obligations.
• The deal is expected to close in the first half of 2026, subject to regulatory and works council approvals.

Importantly, LYB’s exit from these sites will also spare it from the need to invest hundreds of millions in decarbonization upgrades, particularly at Berre and Münchsmünster, where meeting 2030 emissions targets would have required major capital outlays.

LYB’s European Commitment: Core Sites and Circular Ambitions

Despite the high-profile asset sale, LYB has made clear that Europe remains a core region. The company’s retained portfolio includes technologically advanced and economically advantaged sites in Ferrara, Frankfurt, Ludwigshafen, and Rotterdam, as well as integrated supply hubs in Cologne and specialty operations in APS. These facilities are positioned to support LYB’s ambitions in circular and low-carbon solutions, including advanced recycling (MoReTec) and the CirculenRecover product line.

LYB’s future European footprint will be more focused, with a higher share of capacity in cost-advantaged regions (U.S. and Middle East), rising from 61% to 68% post-transaction. The company is also stepping up investment in recycling and circular economy initiatives at its core sites, aiming to deliver 2 million tonnes per year of recycled and renewable polymers by 2030.

Market Implications and Competitive Dynamics

LYB’s withdrawal from these European assets will reshape the regional supply landscape, opening opportunities for Middle Eastern and Asian exporters to increase their market share. The move also contrasts with the strategies of some competitors, such as SABIC, which is expanding its footprint in Asia. For LYB, the divestment enables a sharper focus on direct customers, brand owners, and high-growth segments, while freeing up resources for innovation and portfolio upgrades.

Berre Petrochemical Cluster Process Flow Diagram | ppPLUS Interactive Visualization Tool

Outlook: More Closures Ahead

The European petrochemical sector is entering a “new normal” characterized by ongoing rationalization. With many crackers and polymer plants facing existential threats due to age, size, and economics, further closures are likely. LYB’s asset sale could be a bellwether for additional portfolio actions across the industry.

How ppPLUS Can Help

For investors and stakeholders evaluating LyondellBasell’s divested assets, Portfolio Planning PLUS (ppPLUS) offers tailored economic modelling capabilities to assess risks, opportunities, and transaction value. ppPLUS specializes in developing site-specific models that integrate:

Asset configurations: Detailed analysis of production units, technologies (e.g., Steam Crackers at Berre and Münchmünster, Novolen Gas-Phase PP at Tarragona, Hostalen ACP HDPE at Münchsmünster, Lupotech T LDPE and Spheripol Bulk-Slurry PP at Berre), and feedstock flexibility.
Capacity utilization: Scenario-based projections accounting for market demand, regulatory constraints, and operational synergies.
 Financial and operational metrics: Capex/opex forecasting, decarbonization cost avoidance, and liability assumptions (e.g., pensions, environmental obligations).

Using ppPLUS’s interactive platform, users can:

• Generate gross margin models for individual sites or combined portfolios.
• Simulate the impact of energy price volatility, carbon pricing, and feedstock availability.
• Benchmark asset performance against industry standards and regional competitors.

ppPLUS’s tools align with global best practices in economic modelling, including compliance with frameworks like the UK’s TAG M5.3 supplementary economic modelling guidelines for rigorous validation and scenario testing.

Explore ppPLUS’s asset-specific insights:

• Berre, France
• Münchsmünster, Germany
• Carrington, UK
• Tarragona, Spain

Contact ppPLUS to leverage its expertise in petrochemical asset valuation, strategic due diligence, and regulatory risk assessment for informed decision-making in this transformative transaction.

#portfolioplanningplus  #ppplus  #transactions  #divestment  #marginanalysis  #economicmodelling  #capacityutilization  #opex  #capex  #lyondellbasell  #sabic  #indorama  #ineos  #exxonmobil  #aequita #aramco 

PE and PP Plants with their technologies and capacities have been added.


#petronas  #saudiaramco  #prefchem  #pengerang  #lyondellbasell  #ineos  #spheripol  #spherizone  #innovene  #hostalen 

Hydraeon alkaline water electrolyser for green hydrogen production has been added.

#ineos #membraneelectrolyser  #hydraeonelectrolyser  #greenhydrogen  #emethanol  #alkalinewater  #electrolysis  #hydrogenproduction  #renewableenergy 

INEOS Chlor-Alkali technology with BICHLOR™ membrane electrolyser system has been added.

#chloralkali #bichlor  #ineos  #chlorine  #causticsoda  #hydrogen  #electrolyser 

Polyolefin plants, technologies and capacities have been added.


#orlen  #unipetrol  #czechia  #unipolpe  #univation  #ineos  #innovene  

Sabic European Head Office in Sittard, The Netherlands

Sabic, the Saudi chemicals giant majority-owned by Aramco, is preparing to exit its European petrochemicals business—a move that underscores the mounting pressures facing the region’s manufacturing sector. The company’s plants and operations, spanning Germany, Spain, and the UK, are now up for sale, with investment banks Lazard and Goldman Sachs overseeing the process. These assets, which generate billions in annual sales, are among the largest of their kind in Europe.

Why Is Sabic Leaving Europe?

Sabic’s planned departure is not simply a business reshuffle but a reflection of deep-rooted challenges in Europe’s chemicals industry. Over the past several years, European producers have been squeezed by a combination of macroeconomic headwinds, persistent overcapacity, and intensifying global competition. The sector has faced years of oversupply and falling prices, with demand for petrochemicals closely tied to sluggish GDP growth. Sabic itself recently cut its 2025 GDP forecast, citing weaker prospects for the industry as a whole.

The economic backdrop is further complicated by Europe’s high energy prices and strict environmental regulations. European producers pay significantly more for natural gas than their US counterparts, and the cost of emitting carbon dioxide continues to rise under the EU’s ambitious climate policies. While American and Middle Eastern producers benefit from cheaper feedstocks and less stringent emissions rules, European plants—many of them older and reliant on naphtha—struggle to compete. The result is a cost gap of up to $300 per tonne for key products like ethylene and propylene, putting relentless pressure on margins.

Industry Consolidation and Rationalization

These structural disadvantages have triggered a wave of rationalization across the continent. Sabic is not alone: ExxonMobil, Dow, and other multinationals are also closing or idling European assets, as high costs and weak demand make it difficult to justify continued investment in aging facilities. In 2024 alone, nearly 1 million tonnes of ethylene capacity is being permanently phased out, with more closures likely as the industry adapts to the “new normal” of lower profitability and higher sustainability standards.

The European Union’s push for emissions reductions-targeting at least a 55% cut from 1990 levels by 2030-adds another layer of complexity. Modernizing old plants to meet these goals is often more expensive than closing them, and the introduction of mechanisms like the carbon border adjustment tax could further deter outside investment.

Who Might Buy Sabic’s Assets?

With Sabic’s portfolio now on the market, potential buyers are weighing both risks and opportunities. European rivals such as BASF and INEOS may see value in expanding their networks, while Middle Eastern energy firms could be interested but wary of Europe’s carbon costs. Private equity investors, particularly those focused on green technology, are also watching closely, drawn by the chance to modernize facilities and tap into EU subsidies for hydrogen and recycling projects.

Global Shifts and the Road Ahead

Sabic’s strategic pivot comes as the global chemicals market is being reshaped by geopolitics and shifting trade flows. Ongoing trade tensions between the US and China, along with the prospect of increased supply from Iran, are pushing more business toward the Middle East and Asia, further eroding Europe’s traditional advantages. Meanwhile, Sabic and Aramco are doubling down on investments in high-growth Asian markets, including a $6.4 billion petrochemical complex in China, betting on robust demand for plastics and chemicals in the region.

#sabic #aramco  #ineos #basf  #dow  #exxonmobil  #recycling  #carbontax

Grangemouth oil refinery officially closes after 100 years in operation. Photo credit: yahoo

Grangemouth Refinery Halts Operations: Transition to Import Hub, Calls for Policy Reform, and Strategic Implications for Scotland's Energy Sector.

The end of crude oil processing at Scotland’s Grangemouth refinery marks a pivotal moment for the nation’s industrial and energy landscape. Petroineos, a joint venture between INEOS and PetroChina (CNPC), confirmed in late April 2025 that the site would transition from refining to serving as an import terminal for finished fuels, following sustained financial losses and mounting competition from larger, more efficient refineries abroad. This closure brings an end to more than 70 years of refining at Grangemouth, with the loss of around 400 jobs and significant concern for the local community, which has long depended on the site for stable employment and economic security

The decision has been met with regret and frustration by many in Scotland, including the Scottish Government, which described the closure as premature and detrimental to both the economy and the country’s transition to net zero. Workers and unions have voiced deep concerns about the lack of consultation and the adequacy of transition plans, fearing a repeat of the economic decline seen in other former industrial communities. While some government support for retraining and local investment has been pledged, the loss of Grangemouth’s refining capacity is widely seen as a blow to the region’s industrial fabric and a test of policymakers’ commitment to managing the energy transition responsibly.

Against this backdrop, INEOS Chairman Sir Jim Ratcliffe has been outspoken in his criticism of the UK’s energy and environmental policies. Ratcliffe argues that high energy costs and carbon taxes-particularly those imposed under the UK Emissions Trading Scheme (ETS)-are “squeezing the life out of” British industry and making it uncompetitive globally. INEOS faces a £15 million bill for carbon emissions at Grangemouth for 2024 alone, a cost Ratcliffe says is forcing the company to pause critical investments in green projects and efficiency upgrades. He warns that such policies risk accelerating deindustrialization, citing energy bills that are 400% higher than those in the US and double the European average. “This is not just INEOS; this is a reality for British manufacturers across the nation: carbon taxes and soaring energy costs are suffocating the industry,” Ratcliffe said. He has called for a fundamental rethink of the UK’s approach, urging, “Give us competitive energy costs, give us the incentives to invest in new assets and to play our part in building a strong sustainable industrial future,” emphasizing the need for entrepreneurial freedom and lower taxes to allow the energy sector to function and invest in decarbonization.

Strategically, the closure of Grangemouth means Scotland will now import all of its motor fuels, relying entirely on international supply chains to meet domestic demand. This shift increases exposure to global market fluctuations and supply risks, reducing the country’s energy self-sufficiency. While Petroineos has emphasized that the new import terminal will safeguard fuel supply for Scotland, the loss of domestic refining capacity leaves the nation more vulnerable to external shocks and diminishes its leverage in shaping fuel standards and supply terms. In effect, Scotland’s energy security and industrial autonomy have been significantly lowered, underscoring the far-reaching consequences of the Grangemouth closure for both the local community and the wider Scottish economy.

#petroineos  #grangemouth  #refinery  #refining  #ineos  #cnpc  #petrochina  #plantclosure  #carbontax  #energytransition  #netzero  #ratcliffe 

Ineos Green Lake site has been created and acrylonitrile plant and capacity added..

#ineos #nitriles  #usa  #greenlake  #acrylonitrile  #ammoxidation  #sohio 

Ineos Lima site has been created and acrylonitrile plant and capacity added..

#ineos #nitriles  #usa  #lima  #acrylonitrile  #ammoxidation  #sohio 

The technology of the acrylonitrile plants II and III has been identified and production capacities have been added.

#ineos #nitriles  #germany  #acrylonitrile  #ammoxidation  #sohio 

The propylene ammoxidation process technology from INEOS to produce acrylonitriel, based upon the SOHIO process, has been added. 


#ineos  #ammoxidation  #propylene  #acrylonitrile  #sohio 

Shell Polymer Monace site has been modelled with its complete mass balance and identification of technologies employed with their production capacities. 


#unipolpe  #univation  #ineos  #slurryloop  #innovene  #linde  #steamcracker  #ecu  #ethane  #gascracker 

A detailed description of Project ONE is now provided, which includes details about location,  logistics and mobility. ethane cracker technology, and utilities.
 

#co2emissions #emissions  #carbonfootprint  #sustainability  #ethane  #gascracker  #technip  #ineos  #antwerp  #belgium  #pipeline 

All Polyolefin and EO/EG Technologies from Phase 1 and Phase 2 have been added as well as their production capacities.

#polyethylene  #polypropylene  #ethyleneglycol  #hpeo  #meg   #hdpe  #lldpe  #pp  #ineos  #lupotech  #spheripol  #spherizone  #univation  #unipolpe  #master  #lyondellbasell  #shell  #cnooc  #china  #cspc 

SIPC 1.2 million tonne ethylene project was completed and put into operation in Tianjin

On 13th November the new ethylene complex operated by SIPC, also known as the 'ethylene and downstream high-end new materials industry cluster project', was successfully put into operation and the whole process was completed, producing qualified products. Sinopec INEOS (Tianjin) Petrochemical Co., Ltd. (SIPC) is a joint venture between INEOS and SINOPEC. The project is built in the Nangang area of the Tianjin Economic and Technological Development Zone.

The steam cracker plant with a 1.2 million tonne per year of ethylene is designed to provide 4 million tons annually of high-end chemical products and fine chemical feedstocks to the downstream every year. There are 13 downstream projects including high-density polyethylene, linear low-density polyethylene, ultra high molecular weight polyethylene, polypropylene, acrylonitrile, and polyolefin elastomers (POE).

The new ethylene complex, partly powered by solar and designed as an energy and water efficient project, is integrated with Sinopec Tianjin's 320,000 barrels per day refinery, Sinopec commented. The company uses a combination of Sinopec's own technology and imported technology to produce high-end, differentiated new materials that replace imports and fill domestic gaps.

The project took only 21.5 months from the start of civil construction to mechanical completion, breaking many records for similar projects, including the best overall coordinated control plan, the least number of workers, the deepest degree of factory prefabrication, the largest proportion of modular installation, the highest rate of localization of large equipment, and the widest application of digital intelligence.

#sinopec  #ineos  #sipc  #petrochemical  #ethylene  #ethyleneplant  #steamcracker  #polyethylene  #polypropylene 

8/2/2023 9:45:00 AM | Hydrocarbon Processing

INEOS has completed the formation of a 50/50 joint venture with SINOPEC for the Tianjin Nangang Ethylene Project, announced in December 2022, which is currently under construction by SINOPEC and expected to be on-stream by April 2024.

The petrochemical complex includes a 1.2 mtpa cracker, a new 500ktpa High-Density Polyethylene plant to produce INEOS pipe grade under license and 11 other derivative units.

The completion of the agreement today marks the continued progression of the significant petrochemical deals announced by the parties in July and December last year, and highlights the close relationship and growing collaboration between SINOPEC and INEOS.

#ineos  #sinopec  #tianjin  #sipc  #binhai  #nangang  #hdpe  #ethylene  #steamcracker  #ethyleneplant 

Sinopec INEOS (Tianjin) Petrochemical Co., Ltd. and manufacturing site have been added.


#sinopec  #ineos  #tianjin  #petrochemical  #olefins  #steamcracking  #ethylene  #polyethylene  #polypropylene  #hdpe  #lldpe  #poe  #elastomers  #acrylonitriele  #butadiene  #pygas  #aromatics  #mtbe 

19 Sep 2024, Heavy Lifting News

deugro Delivers with Arrival of Second Shipment for INEOS Project One.

The second shipment with the last 5 massive storage bullets for the INEOS Project One has just arrived on board the MV Fairmaster for discharging in  Antwerp.

Both the first shipment with the MV Fairplayer and this voyage from Zhangjiagang,  China, were organized by deugro within a tight schedule from order to loading!

The details of the shipment are:

50,572.4m³ Total Volume
6,547.8 metric tons Total weight


24 Sept 2024, INEOS + AG&P INDUSTRIAL

AG&P Industrial (Atlantic, Gulf, & Pacific Company of Manila, Inc.) has completed the fabrication and shipment of the first batch of Outside Battery Limit (OSBL) modules with a total weight of 1,432.47MT for its first-ever  European contract with London-based INEOS, the fourth largest chemical company in the world. Fabricated in AG&P Industrial’s state-of-the art fabrication yard in Batangas,  Philippines, the modules were shipped to Port of Antwerp, Belgium, the second largest chemical site in the world.

AG&P Industrial, selected from among top 15 yards globally, to ship a total of 77 pre-assembled pipe rack modules and 58 pre-assembled support structures, weighing 10,443 MT for modules and 274 MT for support structures for INEOS Project ONE. AG&P Industrial’s last shipment is expected sail by February 2025.


5 Nov 2024, Project Cargo Journal

International transport and logistics company AsstrA recently completed the first phase of the OSBL module transportation for the Ineos Project One.
The company’s Industrial Project Logistics team moved a total of eight modules from the Philippines to Belgium via the Cape of Good Hope. Some of the modules measured 39 x 12 x 11 metres.

According to AsstrA, the delivery marks a milestone for Asstra Industrial Project Logistics as it is projected to transport almost 100 modules under this contract. It equates to more than 230,000 cubic metres of cargo.

The first batch of modules was transported by one of United Heavy Lift’s F900 heavy-lift multipurpose vessel, the UHL Flair.


Project One represents the largest investment in European chemistry in the past 25 years. The cracker, which will be the most sustainable of its kind, will be commissioned in 2026, according to Ineos. The facility will have a nameplate capacity of 1450kt of ethylene per year.

#ineos  #projectone  #cracker  #antwerp  #belgium  #steamcracker

Credit: Gunvor, Rotterdam refinery

By Jack Wittels and Alex Longley, November 22, 2024, Bloomberg

Gunvor Group is temporarily halting its Rotterdam oil refinery because it’s not making enough money, the latest sign that the continent’s plants are struggling to compete with upstarts in other parts of the world.

Effective Nov. 25, the so-called economic halt is due to a lack of prompt availability of commercially viable feedstock, the company said in a statement. Gunvor said it will “continue to monitor the situation and assess future resupply for the refinery in due course.”

With a processing capacity of 75,000 barrels a day, the plant is relatively tiny. Still, it joins a growing list of European refineries with plans to either halt or downsize, including the Wesseling and Gelsenkirchen plants in Germany and the Grangemouth facility in Scotland.

Europe’s refineries are under pressure from large, new plants, including in the Middle East and Africa, such as Nigeria’s giant new Dangote refinery. The rival fuelmakers can send what they make to Europe, and also compete for market share elsewhere in the world.

#gunvor  #refinery  #europe  #rotterdam  #wesseling  #gelsenkirchen  #grangemounth  #petroineos  #lyondellbasell  #ineos  #nigeria  #dangote  #crudeoil  #bp 

LCTN Merak plant and productions added.
 

#ineos #innovene  #gasphasepe  #polyethylene  #lctn  #lottechemical  #titan  #indonesia 

The Ineos plant in Addyston early October

INEOS Group Ltd. announced its decision to permanently close its ABS (acrylonitrile butadiene styrene) production site in Addyston, Ohio. The Company will commence a safe and responsible decommissioning process in the second quarter of 2025.

The Addyston site manufactures ABS and SAN (styrene acrylonitrile) polymers that are used in a wide variety of applications and industries, including Automotive, Household, Healthcare, and Construction. INEOS, through its Styrolution business remains dedicated to serving the North American ABS market and will continue to serve affected customers from our other production facilities in North America and within its global footprint.

Source1, Source2

#abs  #san  #ineos  #styrene

Site created.
Most production capacities have been added.
Crackers feedstock details as well as individual cracker capacity are missing.
PAO plant not yet added as the corresponding technology has not yet been added to the database.

#lao  #pao  #polypropylene  #innovene  #kbr  #steamcracker  #olefinplant  #ethylene  #propylene  #alvin  #texas  #ineos

Shareholding of INEOS Aromatics Belgium has been reassigned to Ineos Manufacturing Belgium.

#ineos  #manufacturing  #belgium  #ineos 

The Council for Permit Disputes has annulled the licence for the chemical company Ineos Aromatics to operate in Geel and Laakdal. According to the council's president, Thursday's annulment means Ineos Aromatics must cease operations until a new licence can be obtained, but Ineos denies this.

Source: belga NEWS Agency, 22^th Aug 2024. 

#ineos  #aromatics  #pet  #belgium  #geel 

LAO plant and production added.

#lao #pao  #ineos  #feluy  #belgium 

INEOS Oligomers Feluy plant has been created.

#ineos #oligomers  #feluy  #pao  #lao  #alphaolefins 

INEOS Feluy SA has been added and its shareholder identified. 

#olefins  #ineos  #feluy  #belgium  #lao  #pao  #alphaolefins  #manufacturing 

Former Ineos Limited, an intermediate holding company of the INEOS group, was renamed into Ineos 2010 Limited. 

The actual ultimate parent undertaking and subsequently created Ineos Limited company, is incorporated in the Isle of Man and for our purpose of reflecting the Corporate structure of the INEOS Group, is designed as the overarching Corporate entity.

#ineos  #limited  #corporation  #ineosgroup 

Petroineos Trading Limited has been added and parent companies identified.

#petroineos  #trading  #fuels  #ineos  #petrochina 

Petroineos Fuels Ltd. has been added and parent identified.

#petroineos #fuels  #ineos  #petrochina  #refining 

Grangemouth Energy Co. Ltd. has been added and parent identified.

#grangemouth #energy  #ineos 

Ineos Grangemouth Ltd has been added and parent company identified.

#ineos  #grangemouth  #holding 

INEOS Holdings Limited has been added and immediate parent identified.

#ineos  #holding  #investment  #oxides 

INEOS Holdings Investments Limited has been added and immediate parent identified.

#ineos #europe  #holding 

Inovyn Newco 2 Ltd has been added and parent company identified.

#ineos  #inovyn  #newco 

Inovyn Group Treasury Limited has been added and parent company identified.

#ineos  #inovyn 

INOVYN Finance Limited has been added and main parent identified.

#inovyn  #ineos 

Ineos Quattro Holdings Ltd parent company has been updated.

#ineos  #quattro  #inovyn 

INEOS Group Ltd. has been created and direct parent identified.

#ineos  #holding .

Ineos Oxide Ltd. parent company has been updated.

#ineos #oxide 

Ineos Group Holdings Ltd. added and immediate parent identified.

#ineos  #holdings 

Ineos Olefins Belgium Holdings Ltd has been added and its parent compny determined.

#ineos  #olefins  #holdings  #projectone  

INEOS European Holdings Ltd has been added and its parent determined.

#ineos  #holding  #olefins  #projectone 

INEOS Olefins Belgium NV parent company has been updated.

#ineos  #olefins  #belgium  #projectone 

INEOS Polymers Sarralbe has been added and parent company identified.

#ineos  #france  #polymers 

INEOS Europe AG shareholding has been updated.

#ineos  #europe  #switzerland 

INEOS Group AG in Switzerland has been created.

#ineos  #switzerland 

INEOS Luxembourg I S.A. has been added.

#ineos  #luxembourg  #investor 

Ownership of FICC has been added.

#formosa  #ineos  #ficc  #taiwan 

The INEOS Linear Alpha-Olefins (LAOs) Process, formerly Ethyl Process, has been created.

#lao  #linearalphaolefins  #ineos  #alphaolefins  

The INEOS Joffre LAO site in Canada has been created.

#ineos  #joffre  #lao  #canada 

INEOS Canada Partnership entity has been created.

#ineos  #canada 

Petroineos, a Joint Venture between INEOS and PetroChina, has announced its intention to cease refinery operations at Grangemouth and transition to a finished fuels import terminal and distribution hub during the second quarter of 2025, subject to consultation with employees.

Situated on the Firth of Forth on Scotland’s east coast, Grangemouth Refinery is the oldest of the six remaining refineries in the  UK and the only refinery in Scotland. Grangemouth refining capacity stands at 150,000 barrels of crude oil per day.

A spokesman for Petroineos said that in the last week, the refinery has lost around 500,000 US dollars (£381,000) per day, and absorbed total losses of 775 million US dollars (£590 million): “it is hard to conceive that any owner would be able or willing to sustain losses on this scale indefinitely and in the face of competitive pressure from newer, more modern facilities across Europe and elsewhere in the world” the spokesperson added.

Other INEOS businesses at Grangemouth, namely INEOS O&P UK and INEOS FPS (Forties Pipeline System), will continue as normal delivering high quality services and products to customers and are largely unaffected by this change, Ineos stated.

#ineos  #petroineos  #refinery  #grangemouth  #crudeoil 

Sources: INEOS announcement, 12 Sep 2024 | The Westmorland Gazette, 13 Sep 2024