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Oil tumbles $4 to one-year low, crisis unrelenting

SINGAPORE - Oil tumbled more than $4 to a one-year low on Friday as growing fears that financial market turmoil will squash demand for fuel outweighed the possibility of an OPEC production cut at an emergency meeting in November. Commodities have been punished along with stock ...

Kazakhstan confident in oil sector despite crisis

ALMATY - Kazakhstan's oil sector is facing limited access to borrowing due to a global credit crisis but the overall sentiment is good and foreign interest remains strong, the energy minister said on Tuesday. The liquidity squeeze has hit Central Asia's biggest oil producer hard ...

Honeywell Sells Novel Low-Global-Warming Blowing Agent to European Customers

Honeywell announced it has begun selling its low- global-warming blowing agent for one-component foam and aerosol applications in Europe. Honeywell launched the product and received clearance from the European Union to import limited commercial quantities last year. The new ...

An Analysis of the Ethylene Global Market Outlook for 2008

Research and Markets has announced the addition of the "Ethylene Market Outlook 2008" report to their offering. The report analyzes worldwide markets for Ethylene, including Europe, Asia, North America, Latin America, Middle East and Africa, Oceania. It provides the most complete ...

India's ONGC confirms interest in Kazakh oil asset

ALMATY - Leading Indian explorer Oil and Natural Gas Corp (ONGC) confirmed its interest in buying a stake in MangistauMunaiGas (MMG), a Kazakhstan-based oil producer. A government source said earlier this week ONGC had approached the Kazakh side over MMG, which has total oil ...

Idemitsu starts selling spot gas oil to Mexico

TOKYO - Idemitsu Kosan Co, Japan's No. 3 oil refiner, has started exporting gas oil to Mexico on a spot basis, in addition to longer contracts, as demand for oil products in the Central American nation grows. Company officials declined to disclose the volume and timing of the ...

OPEC floats oil supply cut, weighs early meeting

LAGOS/DUBAI - OPEC may need to cut oil output to bolster prices, oil ministers said Wednesday as the exporter group discussed holding an emergency meeting to discuss the impact of the financial crisis. The group plans to meet on November 18 in Vienna, Algerian state news agency ...

Asia benzene hits 21-month low

SINGAPORE--Asia s benzene prices fell to a 21-month low and are poised to drop below the $900/tonne FOB Korea level if crude values continue to fall and weak demand persists from key derivative segments, said Asian traders and a Korean producer on Wednesday. Prices fell to $900...

Two Russian companies ink an important petrochemical joint venture

Russia's Salavatnefteorgsintez and SIBUR Holding had recently signed a Memorandum of Understanding (MoU) to create a joint venture under the name Salavat Petrochemicals Complex LLC (SPCC). SPCC is expected to become a major industrial complex, including large-volume production of ...

Asia isomer grade xylene hits 13-month low

SINGAPORE--Asia s isomer grade xylene values plunged to their lowest level in 13 months at around $840/tonne FOB (free on board) Korea, triggered by sliding crude oil prices and persistent weak demand from the downstream paraxylene (PX) segment, said traders and producers on ...

Oil up on U.S. rescue plans, slow Ike recovery

NEW YORK - Oil prices rose on Thursday amid optimism over wide-ranging efforts to solve the U.S. financial crisis and amid mounting concern over the impact of back-to-back hurricanes on U.S. energy inventories. U.S. crude rose 72 cents to settle at $97.88 a barrel, adding to a $6...

Oil output cuts could hurt global economy: IEA

LONDON - Any move to limit oil production could hurt the struggling global economy, the International Energy Agency said on Wednesday after OPEC agreed to cut output. "First of all, $100 per barrel remains very high in anyone's terms," said David Fyfe, an analyst with the IEA's ...

Cheaper oil could lead to commodity price reform

BEIJING -- Cheaper international crude oil would be a good opportunity for China to reform its commodity prices, said an expert with the National Development and Reform Commission (NDRC). Chen Dongqi, vice president of the NDRC's Academy of Macroeconomic Research estimated crude ...

OPEC output level contributes to "fairly well-balanced" market

VIENNA -- Saudi Oil Minister Ai al-Nuaimi said here Tuesday that the international crude oil market is "fairly well-balanced" and that the current OPEC crude oil output is appropriate. Ai al-Nuaimi said that OPEC had made great efforts to fulfill its objectives and stabilize the ...

Dilemma prompts OPEC to cut oil output

VIENNA -- The Organization of Petroleum Exporting Countries (OPEC) faces a dilemma over oil output, prompting member countries to strictly comply with the limitation of a daily production ceiling of 28.8 million barrels of crude oil. This means an average daily output cut of 520...

IEA cuts oil demand growth forecasts

LONDON - World oil demand will grow by less than expected this year and next due to high prices and weaker economic conditions, the International Energy Agency said on Wednesday. In its September Oil Market Report, the agency lowered its 2008 world oil demand growth forecast by ...

Polyurethane Transfer Molding for Composites

In place of polyester, vinylester and epoxy used in resin transfer molding (RTM), the use of polyurethane resin is being introduced. RTM technology process has been a preferred method for manufacturing composite parts. Bayer MaterialScience LLC is pioneering the use of polyuretha...

Oil rebounds from 5-month low as OPEC cut surprises

SEOUL - Oil jumped more than $1 to near $105 a barrel on Wednesday, rebounding from a five-month low after OPEC agreed a small but unexpected production cut that some analysts said showed their resolve to keep prices above $100. The Organization of the Petroleum Exporting ...

OPEC agrees to surprise output cut, oil price rises

VIENNA - After hours of wrangling, OPEC on Wednesday agreed to revise its complex output targets and said the move would effectively cut supplies by half a million barrels per day (bpd). Ministers of the Organization of the Petroleum Exporting Countries (OPEC) had been widely ...

U.S. 2009 oil demand seen lowest since 2002

WASHINGTON - The drop in U.S. oil demand is expected to continue through next year with annual consumption in 2009 falling below 20 million barrels per day for the first time in seven years, the government's top energy forecasting agency said on Tuesday. A weak U.S. economy and ...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

company

Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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