Dow considers exit from $20 billion Aramco chemicals venture - Bloomberg

Dow Inc. is reviewing options for its 35% stake in a $20B chemicals venture with Saudi Aramco, including a potential exit, according to Bloomberg. The move is part of Dow's portfolio restructuring amid a downturn in the chemicals industry. Saudi Aramco could acquire Dow's stake, or other investors may bid, but no final decision has been made.

X-energy said the U.S. Department of Energy told it it will receive $1 billion in additional public funding for a nuclear power project in Seadrift, Texas, with Dow Inc. Total DOE funding since 2021 could reach $2.15 billion. The award follows a 50/50 cost share. Dow and X-energy filed a NRC construction permit application, targeting early 2030s operations.

Dow Chemical Co. and Huntsman agreed to settle a price-fixing lawsuit alleging they, with other companies, manipulated prices of chemicals used to make polyurethane. According to the settlement terms, the two firms will pay a combined $20 million. The deal ends the claims in the suit.

Iran conflict and Strait of Hormuz disruption have tightened petrochemical supply, enabling major chemical makers to raise prices. LyondellBasell reported Q2 adjusted earnings of $1.4B, up nearly 600% YoY. Dow sales rose 19.7% and swung to profit. BASF profits rose 167% with 16% higher sales. Executives warn the boost may be temporary.

The Delaware Supreme Court overturned a lower court ruling that would have allowed asbestos litigation to proceed against settlement trusts planning to delete claims data older than a year. The decision affects Johnson & Johnson and Dow Chemical, which use the data to argue for lower payouts by showing some claimants had other sources of recovery.

The Department of War (DOW) signed two seven-year framework agreements with L3Harris, coordinated with Lockheed Martin, to expand propulsion production for PAC-3 MSE and THAAD. L3Harris’ PAC-3 propulsion output is expected to nearly triple, and THAAD propulsion to quadruple. Contracts are expected to be definitized later in 2026/2026.