OMAN: Oman Oil completes acquisition of Oxea to enhance global chemical business

"With its international presence in Europe and North America, leading technology, efficient platform and long-standing experience in the oxo segment, Oxea will support our further expansion into the chemical sector," noted Nasser bin Khamis Al Jashmi, chairman of OOC. Value of the transaction was not disclosed.

Oxea has a total of 1.3-million t/y of oxo chemicals and derivatives capacity, with production facilities in Oberhausen, Germany; Amsterdam, the Netherlands, and Bay City and Bishop, Texas, USA. It also recently started construction on a plant to produce specialty esters, phthalate-free plasticizers and other oxo derivatives in Nanjing, China.

Source: Weekly "PetroChemical News", Durham, NC, USA; 16 Dec 2013

(Syed Rashid Ali, Karachi, Pakistan)