Friday News Round Up

Today's round-up of news and updates on previous stories

• Total has today pleaded guilty to charges relating to the explosion at the Buncefield oil depot in Hertfordshire in 2005. A subtantial fine is likely but this will not be set until trials have been held for the other companies charged in relation to the incident. Earlier this year, the court ruled that Total should pay the property damage bills of individual and business claimants, amounting to £750m - an appeal against this decision wil be held next year.

• NOVA Chemicals annouced details of its new board of directors. As expected, the new board will have significantly increased involvement by both the group's owner IPIC and Borealis

• Dow Chemical has said that it plans to sell more assets in 2010 as it continues to work toward paying off debt from its $16.5 billion acquisition of Rohm and Haas in April. The sale will include the Styron business - the deal is expected to close in early 2010 - together with a number of smaller businesses.

• In an interview with ICIS, Peter Young of the US Investment Bank Young and Partners expressed his view that M&A activity in the chemical industry would increase meaningfully in 2010.

• SABIC came at the top of a list the largest 100 publicly traded GCC companies in terms of market value at $ 64 billion