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Oil tumbles below $109 as Gustav concerns recede

SINGAPORE - Oil plunged almost $3 a barrel on Tuesday to its lowest since mid-April, extending the previous day's rout on initial signs that a weakened Hurricane Gustav spared major Gulf oil facilities. Early checks by some U.S. refiners reported no damage from Gustav, which ...

Fingerprint breakthrough hope in US double murder probe

A double murder investigation that has remained unsolved for almost a decade could be provided new impetus following a forensic breakthrough at the University of Leicester. A detective from America is visiting forensic scientists at the University of Leicester and Northamptonshir...

Petrochem companies to be subject to 20% on profits in Egypt as per new legislation

The change in legislation of Egypt's energy sector strategy has perplexed the major international oil companies. Among other sector companies, petrochemical companies will be subject to a 20% tax on profits as per the change in legislation in Egypt. Moreover, these companies will ...

India's Uflex selects Mexico for its US$108 mln polyester film project

Uflex, India's packaging producer has selected Mexico for installation of its US$108 mln polyester film project. The company said that the 125,000 tpa flexible plastics film plant will be erected in Altamira, located in northeastern Mexico's Tamaulipas state. The polyesters film ...

China power hikes could derail recovery

SINGAPORE--An expected hike for power prices in China could take its toll on the country s petrochemicals industry and set back its recovery after the Olympics, sellers and buyers said on Monday. Electricity tariffs were raised by yuan (CNY) 0.05 ($0.01) per kilowatt hour (kWh), ...

Iranian official considers $100 per barrel as lowest suitable price for oil

TEHRAN -- Iranian Oil Minister Gholam-Hossein Nozari said Sunday that 100 U.S. dollars per barrel is the lowest suitable price for oil, the English-language Press TV satellite channel reported. "This (crude at 100 USD a barrel) is the minimum price for oil," Nozari was quoted as ...

DSM Engg Plastics reaches agreement on acquisition of polymerization assets of Diolen Industrial Fibers BV

DSM Engineering Plastics announced that it has reached an agreement on the acquisition of the polymerization assets of Diolen Industrial Fibers BV. These include the facilities for polyester polymer production in Emmen (Netherlands), which will now be integrated with DSM's ...

Gustav cuts U.S. oil, gas, threatens commods

Gustav is first big threat to U.S. Gulf of Mexico energy and port infrastructure since Katrina and Rita in 2005. The Gulf is the source of 25 percent of domestic oil and 15 percent of the natural gas. More than a third of U.S. refining capacity is on the U.S. Gulf Coast. Near ...

Putin reminds EU of Russia's Pacific oil pipeline

MOSCOW - Prime Minister Vladimir Putin said on Sunday that Russia's first oil pipeline to Asia must be completed without delay, underlining Russia's energy clout just hours before European Union leaders meet to discuss Georgia. Russian state-owned news agency RIA said Putin had ...

Indian shares seesaw early as oil climbs

MUMBAI - Indian shares opened higher but quickly turned negative before pulling up on Wednesday as higher oil prices rekindled inflation expectations and the possibility of higher interest rates. At 9:57 a.m. (0427 GMT), the 30-share BSE index was up 0.01 percent, or 1.01 points, ...

Praxair to Seek DOE Funding for Oxy-Coal Project

In response to a Funding Opportunity recently issued by the U.S. Department of Energy s Clean Coal Power Initiative, Praxair, Inc. will submit a proposal, working with the Jamestown Oxy-Coal Alliance and others, to demonstrate technology designed to capture carbon dioxide ...

Dow and Davy form PTA Technology Marketing and Sales Agreement

Dow Technology Licensing and Davy Process Technology Limited have reached a cooperation agreement for the engineering, R&D, marketing and sales of Dow's PTA Process Technology. PTA production is integral to the manufacture of PET (polyethylene terephthalate), a performance ...

Brenntag acquires Dipol Chemical International, Inc.

Brenntag announced the acquisition of Dipol Chemical International, Inc. The company is focused on the distribution of chemicals in Ukraine, Russia and the Baltic States and also provides its services in Belorussia and Moldova. Founded in 1994, Dipol is now a distributor of ...

Dollar's depreciation, tax regulations and high lending rates to pose turmoil for Brazil's plastics industry

Looking at the trade scenario of Brazil's plastics industry particularly imports, the industry claimed to be a third generation industry will subside owing to the mounting trade deficit, a senior official of Abiplast (Plastic product producers) expressed. Brazilian imports for H1 ...

Shell's new process for FCC to augment PP production by two times

The Middle Distillates and Lower Olefins Selective process (Milos), a new process started by Shell Global Solutions introduces an additional riser to the Fluid Catalytic Cracker (FCC) column to maximise the yield of the diesel and propylene fractions. Given the option to add to ...

Crude values spike by one dollar as tensions between Georgia and Russia intensify

Possible supply disruptions anticipated to be caused by escalating tensions between Georgia and Russia has spiked world oil prices by over a dollar in Asian trade. As exports have been halted via two Georgian ports due to the fighting, New York's light sweet crude for September ...

Supply crunch may bring $200 oil in 5-10 yrs: study

LONDON - The world faces a serious oil supply crunch within five to 10 years that may drive prices up to more than $200 a barrel, a British think tank said on Friday. The Chatham House report says $200 oil is possible, barring a collapse in demand, because of inadequate ...

Obama oil plan may weaken emergency stockpile

WASHINGTON - Democratic presidential candidate Barack Obama's plan to release oil from the U.S. Strategic Petroleum Reserve may lower crude and gasoline prices in the short term, but it could also leave the United States more vulnerable in a supply emergency. Obama called this ...

Wall Street gains on technology shares, falling oil

NEW YORK -- U.S. stocks extended gains on Wednesday as the rally of technology shares and continued drop in oil prices offset the housing concerns. The Nasdaq rose more than 1.2 percent. Cisco, the biggest maker of networking equipment, spurred a rally in technology shares after ...

Ecuador says Petrobras agrees new oil pact

QUITO - Brazilian oil giant Petrobras on Thursday agreed to switch to a new contract with Ecuador to make it only a contractor, marking a win for President Rafael Correa in his drive to boost his control over the key sector. The new service deal means the company will be paid a ...

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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