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Evonik Examining Construction of a Methyl Mercaptan Plant in the USA

Evonik Industries AG is proceeding on schedule with its preparations for closely examining the construction of a methyl mercaptan plant at its site in Theodore, Alabama, USA. The results of the basic engineering and feasibility studies will be available in the coming months, and ...

Indonesia expects to raise oil production

JAKARTA -- Indonesia is expected to increase its oil production to more than one million barrel per day in the next three years as some companies will start production by the end of this year, chairman of the upstream oil and gas regulator BP Migas Raden Priyono said here ...

Crude prices surge on U.S. inventories data

NEW YORK -- Crude futures surged Wednesday as a report showed the U.S. crude inventory declined more than previously forecasted. Light, sweet crude for July delivery rose 5.11 U.S. dollars to settle at 136.42 dollars a barrel on the New York Mercantile Exchange after earlier ...

Oil falls $3 on demand worries, dollar rebound

NEW YORK - Oil fell sharply on Tuesday after the U.S. Federal Reserve signaled it was taking aim at inflation, triggering a rebound in the U.S. dollar and a sell-off across commodities markets. Further pressure on prices came after two of the world's biggest energy forecasters ...

OPEC chief appeals for calm over oil

LONDON - OPEC's Secretary General on Tuesday appealed for calm, saying the record-high crude oil price was unbearable and did not reflect any shortage of supply in the market. Abdullah al-Badri also called for measures to curb market speculation, a factor OPEC says is sending ...

Dow to boost polyurethane prices further

US-based Dow Chemical is raising prices in its polyurethane business 8-24% globally in June and July, and additional increases are likely to follow, the president of Dow Polyurethanes said on Tuesday. We are under siege with this step-change in energy and feedstock price ...

Russia's Gazprom predicts $250 oil by 2009

DEAUVILLE - Russia's Gazprom, the supplier of a quarter of Europe's natural gas, expects the price of crude oil to almost double as the decade draws to a close, taking gas prices with it. "We think it will reach $250/bbl in the foreseeable future," Chief Executive Alexei Miller ...

Oil falls on U.S. fuel stock build, demand worries

NEW YORK - Oil fell more than $2 on Wednesday after government data showed a sharp rise in U.S. gasoline inventories and more Asian countries cut fuel subsidies, adding to global demand concerns. U.S. crude settled down $2.01 at $122.30 a barrel, the lowest settlement since May 6...

New forces fraying U.S.-Saudi oil ties

LOS ANGELES -- Surging prices, along with a weak dollar and an oil-thirsty Asia, have blunted America's leverage with Saudi Arabia, a key oil producer and helped sour the two nations' relationship, the Los Angeles Times said on Sunday. Gone were the days when Saudi Arabia worked ...

No need for OPEC to act on prices: Qatar min

WASHINGTON - Global oil markets are well supplied and there is no need for OPEC to boost output to tame near record oil prices, Qatar's oil minister said on Tuesday. "The supply is very efficient and very balanced and we don't think this is a product of supply," Abdullah al...

India allows oil refiners to hedge imports offshore

MUMBAI - India's central bank said on Tuesday refiners would be able to hedge imports of crude oil on overseas exchanges, the latest move to ease pressure on state-run firms which have to sell fuel at below-market state-set prices. Government-run refiners such as Indian Oil Corp, ...

OECD experts conclude that DMSO is safe for human health and the environment

On behalf of the DMSO (dimethyl sulfoxide) World Producers Association, Arkema has collated the physical-chemical, toxicological and ecotoxicological data available on this substance, and submitted a SIDS (Screening Information DataSet) to OECD experts committee as part of the ...

Thermo Fisher Scientific Names Marc N. Casper as Chief Operating Officer

Thermo Fisher Scientific Inc. announced that Marc N. Casper has been named to the newly created position of chief operating officer, effective immediately, reporting to Marijn E. Dekkers, president and chief executive officer of the company. Casper previously served as president ...

Current oil production meets demand-Saudi Arabia

RIYADH - The current level of oil production is fulfilling market demand, Saudi Arabia's Oil Minister Ali al-Naimi said in remarks carried by state news agency SPA on Monday. "(Saudi Arabia) is permanently seeking to take into consideration the interest of consumers and producers ...

Oil steadies as OPEC says no need for hike

NEW YORK - Oil steadied on Monday after profit-taking offset comments from OPEC's president that the producer group would not increase output at its next meeting in September. The U.S. light crude contract for June delivery, which expires on Tuesday, fell 3 cents to $126.26 a ...

U.S. refiners turn attention to diesel amid boom

NEW YORK - After focusing heavily on gasoline for decades, U.S. oil refiners are starting to redirect their attention to hiking diesel production capacity to cash in on a global boom in demand for the fuel. The work may be slow to come online, however, as U.S. refiners finish up ...

Oil steadies as OPEC says no need for hike

NEW YORK - Oil steadied on Monday after profit-taking offset comments from OPEC's president that the producer group would not increase output at its next meeting in September. The U.S. light crude contract for June delivery, which expires on Tuesday, fell 3 cents to $126.26 a ...

Retail gasoline price at record $3.79/gln: EIA

WASHINGTON - U.S. drivers are facing more sticker shock at the pump as the average price for gasoline soared 6.9 cents over the last week to a new record of $3.79 a gallon, the federal Energy Information Administration said on Monday. The national price for regular, self-service ...

Vietnam speeds up work on country's first petrochemical plant

Chairman of the Quang Ngai People's Committee has asked relevant authorities to speed up the construction of Vietnam's first petrochemical plant, hampered by local residents demanding more land compensation. The compensation and land allocation for families affected by the ...

AkzoNobel to Integrate Specialty Polymers Group into Existing Businesses

AkzoNobel will integrate the former ICI's Specialty Polymers Group into other Specialty Chemicals business units. As a result, Elotex will become part of AkzoNobel Functional Chemicals, while Alco and Personal Care will join AkzoNobel Surfactants, which will be renamed AkzoNobel ...

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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