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Venezuela's oil min says prices will keep rising

EL AROMO, Ecuador - Oil prices are likely to keep rising and will never again fall below $100 per barrel, Venezuela's oil minister said on Tuesday, hours after crude dropped $9 per barrel on worries over the U.S. economy. Rafael Ramirez said there was no need for OPEC to hold an ...

A Huntsman shareholder sues Hexion Specialty Chemicals

Hexion hurt Huntsman investors when it did not publicly disclose its concerns about its proposed purchase of the chemical maker - this was the reason cited by a Huntsman Corp. shareholder who has has sued Hexion Specialty Chemicals. Share price of Huntsman soared in 2007, after ...

New material offers toughness, strength and flexibility of PP

A new material has been introduced: Durus , the newest addition to its FullCure line of photopolymer materials, simulating plastics. DurusWhite, FullCure430 expands the FullCure line of modeling materials, addresses a broad range of applications requiring polypropylene-like ...

SABIC posts record 13% H1 net profit rise

SINGAPORE--Petrochemical giant Saudi Basic Industries Corp (SABIC) has reported a 13% year-on-year rise in its first half net profit to a record Saudi riyal (SR)14.5bn ($3.87bn) on improved sales prices and a rise in the volume of production and sales, it said. "The improvement ...

Oil prices down but not out

LONDON - The old saying what goes up must come down seemed true of oil markets this week as falling demand helped to wipe more than $10 off the price, but long-term supply constraints could keep investors keen. Bullish forecasters say the record rally that took prices to more ...

Oil extends slide below $130 on demand worries

NEW YORK - Oil dropped by $5 on Thursday, extending a decline of about 12 percent from last week's record on worries over U.S. demand and easing political tensions between Iran and the West over the OPEC producer's nuclear program. Oil's slide marks the biggest three-day loss in ...

Brazil oil workers take strike national, plan more

SAO PAULO - Brazilian oil workers on Thursday expanded a strike that was limited to platforms in the Campos Basin to all production and refining units of state-run energy company Petrobras. Petrobras said on Thursday output at its platforms, refineries and distribution units was ...

China firms expect weak H1 on price controls

SINGAPORE--China s oil and petrochemical majors are expected to report weak first half earnings as they continue to reel from the country s tight rein on domestic refined petroleum products but things may improve in the second half, analysts said on Friday. Sinopec led the way by ...

An innovative breakthrough in Foam engineering unearthed

Foamex, a US based leading producer of polyurethane foam-based solutions and a manufacturer of high-performance polymers is all set to change consumers' and companies' outlook towards the use of foam. With a breakthrough in foam engineering, the newly developed Aquazone WD has ...

China oil giants post heavy refining losses in first ha

BEIJING -- PetroChina and Sinopec, the country's two largest oil companies, suffered a combined refining loss of 5.71 billion yuan (837.24 million U.S. dollars) in the first half of 2008 as soaring world crude prices added to their production costs. The loss was 47.9 percent ...

OPEC strives to maintain stability of oil markets

ALGIERS -- President of the Organization of Petroleum Exporting Countries (OPEC) said Monday that the organization is striving to maintain stability and sustainable development of international oil markets. Chakib Khelil, who is also Algeria's energy and mining minister, said ...

Oil prices rebound on Gulf storm, Iran tension

NEW YORK -- Oil prices rebounded on Monday as supply concerns brought by the tropical storm in the Gulf of Mexico and the breakdown of the latest Iranian nuclear talks weighed on the market. Light, sweet crude for August delivery rose 2.16 U.S. dollars to settle at 131.04 dollars ...

Japanese processors consent to PE price hike by petrochemical makers

Polyethylene prices is Japan have been increased by a record 17% to unprecedented levels not seen for the past 25 years. This price hike was possible in the country as Japan's film manufacturers and other processors have agreed to the price hikes sought by Mitsubishi Chemical ...

SES and Aker Solutions Announce Engineering Agreement

Synthesis Energy Systems, Inc., a global industrial gasification company and Aker Solutions US Inc., a U.S. based subsidiary of Aker Solutions ASA announced they have entered into an engineering agreement. "Aker Solutions' expertise in the gasification and chemicals industries ...

Asia BD to see limited rise on crude fall

SINGAPORE--The upside potential of the Asian butadiene (BD) spot market may be limited in view of the drop in crude and naphtha prices, traders, producers and end-users said on Tuesday. Although some traders were optimistic that BD spot prices still had the potential to rise to ...

Nigeria's oil wealth fails to benefit poor

Record high oil prices have added hundreds of millions of dollars to Nigeria's government coffers, but few in the world's eighth largest oil exporter reap the rewards. Here are some key facts about the Federal Republic of Nigeria: PEOPLE: * Nigeria is the most populous nation in ...

Reichhold Appoints Azelis Company as UK Distribution Partner

Reichhold has appointed an Azelis company, Br ste UK, as its distribution partner to serve the UK market with the exception of sales in Northern Ireland. Reichhold customers for polyester, vinyl ester, gel coat and bonding paste products come from a number of market sectors ...

Downstream plummets on Asia PX $90/t fall

SINGAPORE--A $90/tonne crash in paraxylene (PX) spot values this week has seen downstream purified terephthalic acid (PTA) and polyester prices plummet with a further drop anticipated soon, said buyers and sellers on Thursday. A sharp decline in crude oil and naphtha prices saw ...

Iran discovers oil field: minister

TEHRAN - Iran has discovered an oil field with in-place reserves of 525 million barrels, Oil Minister Gholamhossein Nozari was quoted as saying on Sunday. The discovery was made near the southern port city of Assaluyeh, state broadcaster IRIB said, without giving further details. ...

Crude falls $3 as storm concerns ease

NEW YORK -- Crude-oil futures lost 3 U.S. dollars on Tuesday to close at the lowest price in nearly seven weeks, as the dollar rallied and worries eased that Tropical Storm Dolly will hit major oil and gas facilities in the Gulf of Mexico. Crude for August delivery, scheduled to ...

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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