Yuhuang Chemical Inc. (YCI) completed its purchase of about 1,300 acres in St. James, La., where it will build a $1.85 billion methanol manufacturing complex, the company said Aug. 18. The purchase was closed July 23.
A multiphase strategy will be used to build the plant, which will handle 1.7 million tonnes per year. The first phase is scheduled to be operational by first-quarter 2018.
YCI said Aug. 10 that long-term firm natural gas transportation capacity on Transcontinental Gas Pipe Line, or Transco, was secured. Under a 20-year agreement there will be transportation from points in Transco’s Zone 3 to a new delivery interconnection within the proposed site.
YCI is the North American subsidiary of China’s Shandong Yuhuang Chemical Co. Ltd., which produces and markets propylene, isobutene, butadiene, isoprene, Styrene, Toluene, and other chemicals.
Recommended Reading
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-21 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
2024-02-11 - Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.