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Acetic Acid Agreement

“Eastman has found that BP has the capabilities to reliably and effectively bring Eastman`s non-specialized acetic acid to market,” the statement said. “This is a strategic business decision, and the terms of the contract have not yet been announced.” With increasing demand and the exploitation of its market presence and experience, three years ago GNFC submitted an ambitious plan to create a new facility in the green grasslands to produce 6 tonnes of additional acetic acid lakh in the state, and of course expected BP to also renew the license of the new facility. “We started negotiations with BP three years ago to extend the licence for the new plant, but they never agreed,” said a senior official at GNFC. Instead, he continued and joined the IOC to build a world-class acetic acid plant in Gujarat, as bp CEO Bob Dudley recently announced during his recent visit to India. Li Shuirong, President of ZPCC, said: “ZPCC is pleased to sign this agreement with BP to explore this possibility for acetic acid production. I am confident that this collaboration will help ZPCC optimize its implementation structure and improve competitiveness, and together we will promote the high-quality development of Indine`s petrochemical industry. BP`s CATIVA® XL proprietary technology requires significantly lower capital investments and delivers superior operating performance than other acetic acid technologies. CATIVA® XL technology is also more energy efficient to support BP`s commitment to a low-carbon future and has a high production reliability record, which also helps reduce the carbon footprint. The proposed acetic acid plant would use BP`s latest Cativa XL technology, while gasification facilities would use raw petroleum coke materials from Indian oil. In fact, the sources said bp had opened negotiations with Indian Oil at the same time to launch a huge acetic acid production project in Gujarat, which would give it a stronger base in the country, a cheaper mode of production of acetic acid because of Indian oil`s access to methanol and possibly also an IOC takeover agreement, he said. BP is one of the few companies in the world to produce acetic acid from methanol, due to the textile industry`s extensive use for processing, printing, painting, glue and as an important preservative in the food industry. Other major players with similar technology are Celanese of Dallas, Hunstman International of Salt Lake Lake and Chiyoda of Japan. In the picture, there is acetic acid.

(Photo by REX/Shutterstock) The proposed facility – in Zhoushan, Zhejiang Province – would use BP`s CATIVA® XL technology to produce acetic acid, a versatile chemical that is used in a variety of products such as paints, glues and solvents.

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