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Oil prices hit record high of $127 on Goldman forecast

NEW YORK -- Crude futures soared above 127 U.S. dollars a barrel for the first time on Friday after investment bank Goldman Sachs raised its oil price forecast. Light, sweet crude futures for June delivery rose 2.17 dollars to close at 126.29 dollars a barrel on the New York ...

Oil extends gains on dlr weakness, diesel concerns

PERTH - Oil rose on Monday, extending last week's climb that saw prices jump to a record high near $128 a barrel, driven by concerns over tight fuel supplies. U.S. light crude for June delivery rose 31 cents to $126.60 a barrel by 2355 GMT. It closed up $2.17 at $126.29 a barrel ...

Merck Cooperates With the University of Applied Science in Muenster

16 May 2008 - The newly established Merck Lab at the University of Applied Science in Muenster is now fully operational. Under the leadership of Professor Thomas Juestel, five experts from the university are developing novel light sources that are not only as long-lasting and ...

Total, Saudi Aramco announce plans for 400,000 bpd refinery project

French oil group Total and the Saudi Arabian Oil Company (Saudi Aramco) have announced plans for a 400,000 bpd refinery in the city of Jubail on the Gulf coast. The facility would process Arabian Heavy crude oil, with operations expected to begin at the end of 2012. A joint ...

BASF Antwerp: New nitric acid plant comes on stream

16 May 2008 - BASF has started operating a new plant for the production of nitric acid at Antwerp Verbund site. The plant's output will be used mainly to manufacture polyurethane. The facility has a production capacity of 500,000 metric tons per year and is one of the world's ...

Oil: knows of no reason for share price surge

SYDNEY - Australian oil producer AED Ltd (AED.AX: Quote, Profile, Research), a takeover target of China's Sinopec Group, said on Thursday it was not aware of any reason for a surge in its share price in the past two days. It made the comments in response to a query by the ...

Bush to press Saudi king on oil prices, Iran

JERUSALEM - U.S. President George W. Bush heads for Saudi Arabia on Friday to renew his appeal to help tame record oil prices and try to shore up Arab support for containing Iran's growing regional clout. After a three-day trip to Israel, Bush will fly to Riyadh to see King ...

OPEC trims 2008 global oil demand forecast

LONDON - OPEC on Thursday trimmed its forecast for global growth in oil demand in 2008, the latest sign that record-high oil prices are putting the brakes on consumption. World oil demand will rise by 1.16 million barrels per day (bpd) this year led by Asia, the Middle East and ...

IEA cuts world oil demand forecast, may trim more

LONDON - World oil demand will rise less than expected in 2008 because of record prices and slower growth in the United States and elsewhere, the International Energy Agency said on Tuesday. Consumption will rise by 1.03 million barrels per day (bpd), 230,000 bpd less than the ...

BASF to build new engineering plastics compounding plant at existing site in India

With a view to expand its offerings and investments in plants and technology for the Indian automotive, electrical and electronics industries, BASF plans to build a new engineering plastics compounding plant at its existing site in Thane. The plant is expected to come on stream ...

Oil rallies to record $124 on strong diesel demand

NEW YORK - Oil rallied back from early losses on Thursday to strike a fresh record above $124 a barrel as strong diesel demand outweighed signs of rising OPEC supplies. U.S. crude CLc1 traded up to an all-peak of $124.61 a barrel in late activity, after settling up 16 cents at ...

Why oil prices are at a record high

U.S. crude oil hit an all-time high of $119.90 a barrel late on Tuesday. Robust demand for crude and a weak dollar have fuelled the rally from a dip below $50 at the start of 2007. Adjusted for inflation, oil is now above the $101.70 peak hit in April 1980, according to the ...

CORRECTION: Far from Middle East, U.S. farmland yields oil

NEVADA, Missouri - George Stapleton has been in the oil business for 30 years, helping plumb sands and shale across the Middle East, Asia and Europe. Now the chief executive of MegaWest Energy Corp is drilling deep into Missouri farmland. In a non-descript pasture bordered by a ...

McCain Says Oil Prices Too High to Buy for SPR

Sen. John McCain is calling for the U.S. to stop adding oil to the Strategic Petroleum Reserve, making him the highest profile Republican to break with the Bush administration on its policy of expanding the emergency stockpile. In an economic speech this afternoon, the Republican ...

House speaker asks Bush to stop stockpiling oil

WASHINGTON - The Speaker of the House of Representatives on Thursday called on the White House to temporarily stop sending crude oil into the nation's emergency stockpile. House Speaker Nancy Pelosi told reporters she was calling on President George W. Bush to work with Democrats ...

Formosa Petrochemical restarts processing unit

After a scheduled maintenance turnaround, Taiwan's Formosa Petrochemical Corp has restarted its No. 1 crude distillation unit on April 20. The three units were shut on March 10. Formosa plans to resume production at a 80,000 bpd residual desulphurization unit this week and a 84...

US senator to propose ban on bisphenol A

HOUSTON --US Senator Chuck Schumer (Democrat-New York) will propose legislation banning the sale of children s products and food containers containing bisphenol A (BPA), possibly before the end of the week, the legislator s office said on Wednesday. As justification for the ban, ...

RPL plans polypropylene unit in Kuwait

In line with its plans to set up greenfield projects outside India, Reliance plans to set up polypropylene unit in Kuwait. Reliance Petroleum Ltd (RPL) has embarked upon the ground work, and is in the process of completing necessary surveys for the project. If RPL is successful ...

Top Asian oil refiner Sinopec Q1 net down 69 percent

HONG KONG - Top Asian oil refiner Sinopec Corp posted a 69 percent fall in first-quarter net profit, lagging forecasts as soaring crude oil prices pushed its refining business into a deep loss. In a statement on Sunday Sinopec said it had made a net profit of 6.06 billion yuan (...

Ashland Distribution will now represent Teknor Apex PVC compounds in China

24 Apr 2008 - Ashland Distribution, a division of Ashland Inc., has announced an agreement with Teknor Apex to distribute their PVC compounds in China, with an emphasis on the medical market. Ashland Distribution operates warehouses in key manufacturing areas throughout China 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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