Sadara, Gulf Interchem to build by-product recycling unit in Jubail
Sadara Chemical Company (Sadara) has signed a memorandum of understanding (MoU) with Gulf Interchem, a Bahrain-based technology company to focus on innovating in the field of low-value chemical by-product recycling, for a by-products upgrade project based in PlasChem Park, Jubail. Under the terms of the non-binding agreement, Gulf Interchem will build an integrated treatment plant to recover valuable molecules from Sadara by-products and convert them into fine chemicals that can be used in the production of speciality chemicals. Read More
ExxonMobil Corporation (XOM) has started production at its Hebron project ahead of schedule. At its peak, the project will produce up to 150,000 barrels of oil per day.Discovered in 1980, the Hebron field is estimated to contain more than 700 million barrels of recoverable resources. The Hebron platform consists of a stand-alone gravity-based structure, which supports an integrated topsides deck that includes living quarters and drilling and production facilities. The platform has a storage capacity of 1.2 million barrels of oil. Read More
Gazprom has signed a five-year €1 billion credit facility agreement with Japan’s Mizuho Bank Ltd (Mizuho), Sumitomo Mitsui Banking Corporation (SMBC) and US-based JP Morgan Chase Bank NA (JP Morgan). The document was signed by Andrey Kruglov, deputy chairman of the Gazprom management committee; Nobuhide Hayashi, chairman of Mizuho; Yasuhiko Hashimoto, joint head of Europe, Middle East and Africa, Mizuho; Yasuyuki Kawasaki, deputy president, head of international banking unit, SMBC; Kenichi Hosomi, managing executive officer, deputy head of international business unit, SMBC; and Yan Tavrovsky, president of CB JP Morgan Bank International (LLC). Read More
Most of the 150 million tons of plastics produced around the world every year end up in landfills, the oceans and elsewhere. Less than 9 percent of plastics are recycled in the United States, rising to about 30 percent in Europe. But new approaches can increase the amount of plastic waste that can be successfully recycled, researchers from the University of Houston and IBM reported a perspective published in the journal Science. 
Be it medicine, agriculture or addressing environmental issues, the chemical industry is constantly trying to find a better combination of formulae to bring in a significant change to the society. Laboratory chemicals is becoming more and more important to the industry with rejuvenated boost for research. The future of the world’s dynamics heavily depends on innovation. Every country, every company and every scientist today, is aiming to develop path-breaking technologies, medicines and innovative researchers that will change the course of science and unveil new solutions. 
India boasts of being the third largest pharmaceutical industry in the world exporting pharma products to over 200 countries and aiming to become a $55 billion industry by 2020. The galore of opportunity that is currently unfolding can take Indian pharmaceutical industry to new heights. There are several drugs that are going off patent by 2020 and if Indian companies innovate and develop new drugs, they can capture a huge chunk of the global industry. However, one of the biggest hurdles faced by the Indian pharmaceutical industry today is to comply with various foreign regulations 
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