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Magazine: Sulphur

Oil assets and ‘net zero’

Mining giant BHP’s decision this August to dispose of its oil and gas assets to Woodside Petroleum (see Industry News, page 11) in a deal estimated at $29 billion is certainly eye-catching. But it is also part of a larger pattern of divestment of fossil fuel assets by oil and gas companies who have dominated the industry for decades. It follows divestment by investors, institutional and otherwise, as efforts to tackle climate change consistently point towards a future where we will be using gas, and especially oil, far less – indeed, where many are talking about achieving ‘net zero’ carbon emissions by the middle of the century or shortly thereafter.

Sulphuric Acid News Roundup

INEOS Enterprises has announced the completion of the sale of its Sulphur Chemicals business to International Chemical Investors Group, for an undisclosed sum. INEOS Sulphur Chemicals business is Spain’s largest dedicated manufacturer of sulphuric acid and oleum, serving clients in both agriculture and chemical intermediates via its 400,000 t/a plant in Bilbao. The business will become part of WeylChem’s advanced intermediates and reagents portfolio, which includes an existing sulphuric acid and oleum plant located in Lamotte, northern France. WeylChem is wholly owned by the International Chemical Investors Group (ICIG).