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SABIC signs MOU with OSOS Petrochemicals

Saudi Basic Industries Corporation (SABIC) has inked a Memorandum of Understanding (MOU) with OSOS Petrochemicals (currently under formation), to partner OSOS Petrochemicals project at Yanbu industrial city. SABIC will hold 35% stake in the joint venture valued at US$1 billion. ...

Crude prices fall on demand worries

NEW YORK, Jan. 17 (Xinhua) -- Crude futures fell Thursday as Federal Reserve Chairman Ben Bernanke said he expects slower U.S. economic growth in 2008. Bernanke, testifying before Congress, confirmed the slow economic growth, saying the housing sector will be a drag on the ...

Singapore's non-oil export drops 4.5% in December

SINGAPORE, Jan. 17 (Xinhua) -- Singapore's mainstay export, the non-oil domestic export (NODX), declined by 4.5 percent year-on-year in December last year, following November's 3.4 percent contraction, due to a drop in electronic export, the government said on Thursday. Domestic ...

US acetone reacts to worsening economy

HOUSTON (ICIS news)--New ways of managing margins are beginning to appear in acetone markets amid rising feedstock costs and talk of an economic recession, industry sources said on Thursday. During the fourth quarter, US large-buyer acetone barge contracts settled up 3 cents/lb (...

PetroChina to enhance ethylene output to 1.2 mln tons at Daqing

PetroChina Co.- China's largest oil producer and second largest refiner, has embarked upon expansion of an ethylene plant in northeastern China's Daqing city. The total investment outlay is estimated at RMB 14 bln (US$1.9 bln), and will be utilized towards doubling of current ...

Butadiene demand growth rate forecast at under 3.5% pa until 2012

Chemical Market Associates, Inc. (CMAI) has completed its 2008 World Butadiene Analysis, an annual market study that provides clients with an outlook for the butadiene and derivatives industries for the period 2002-2012. CMAI experts forecast the 2008 through 2012 period will ...

OPEC chief: Current oil prices not reflection of market fundamentals

NICOSIA, Jan. 16 (Xinhua) -- Current oil prices are not a reflection of market fundamentals but a result of speculation and other factors, chief of the Organization of the Petroleum Exporting Countries (OPEC) said here Wednesday. Oil prices have been disconnected from market ...

Russia to raise oil export duties to record high

MOSCOW, Jan. 16 (Xinhua) -- Russia will raise oil export duties by 58.4 U.S. dollars to 333.8 dollars per ton from Feb. 1, the RIA news agency reported Wednesday. Export duties on light petroleum products will increase from 197.8 dollars to 237.2 dollars per ton and duties on ...

ExxonMobil commences production at high-performance polymer compound facility

ExxonMobil Chemical has completed start-up of a new 40,000 tons compounding facility located at its integrated Baton Rouge complex. The facility, built at an investment outlay of US$20 mln was designed for flexible and efficient production of high quality high-performance ...

Crude prices fall on unexpected inventories jump

NEW YORK, Jan. 16 (Xinhua) -- Crude futures fell Wednesday after the U.S. government said oil stocks jumped unexpectedly last week. In its weekly inventory report, the Energy Department's Energy Information Administration said crude oil stockpiles rose by 4.3 million barrels last ...

British Gas raises prices by 15%

LONDON, Jan. 18 (Xinhua) -- British Gas, the biggest power provider of Britain, announced on Friday to raise gas and electricity charges by 15 percent. British Gas, owned by Windsor-based Centrica, said in a statement that it would make a loss this year without the price rise. ...

CNPC looks to large refineries for growth

BEIJING, Jan. 19 (Xinhua) -- The expected operation of four refineries each with a processing capacity of 10 million tons or more will greatly boost the growth of China National Petroleum Corporation (CNPC) in 2008, said a senior official of the country's largest oil producer on ...

BlueStar plans new methionine plant in China

BEIJING, Jan. 18 (Xinhua) -- China National BlueStar (Group) Corp. and its France-based subsidiary, Adisseo Group, are planning to set up a new methionine plant in China to meet growing demand in the global market. BlueStar said on Friday it would establish the new plant in the ...

Crude prices rise on Bush's stimulus plan

NEW YORK, Jan. 18 (Xinhua) -- Crude prices rose slightly Friday on U.S. President George W. Bush's stimulus plan. Bush called Friday for Congress to act quickly on a stimulus plan worth around 140 billion U.S. dollars to revive the U.S. economy. Light, sweet crude for February ...

Gasoline prices tumble

LOS ANGELES, Jan. 18 (Xinhua) -- The average price of regular unleaded gasoline prices tumbled in California after two consecutive weekly increases, where the prices are the highest in the United States, an auto club said on Friday Prices dropped 6.7 cents in Los Angeles County ...

Dow Oxygenated Solvents to Raise Price on Isopropanol

Midland, MI - January 18, 2008 The Dow Chemical Company announced today that it will raise the off-list price for Isopropanol by $0.03 per pound in North America effective February 1, 2008, or as contracts allow.

Shaw Group awarded engineering contract for two ABS plants in Tiajin

Shaw Group Inc. has been awarded a contract to provide proprietary technology, engineering and procurement services for two 200,000 tpa acrylonitrile butadiene styrene (ABS) plants for Tianjin Dagu Chemical Industry Co., Ltd. The value of the contract has not been disclosed. The ...

North Asia could see landing of rare naphtha shipment from USA

As markets of Asia, particularly the northern region, firm up on account of dwindling supplies of the benchmark grade because of recent ethylene plant outages in Northeast Asia, shipments from other continents are ready to land on the shores of North Asia. Of these, the atypical ...

China Minmetals profits reportedly double in 2007

BEIJING, Jan. 22 (Xinhua) -- Chinese state-owned metal trader China Minmetals Corp. on Tuesday posted profits of 6.8 billion yuan (932 million U.S. dollars) in 2007, believed to be about double those of the previous year. The company posted no profit figures for 2006, but a ...

Crude-oil futures close below $90

NEW YORK, Jan. 22 (Xinhua) -- Crude-oil futures closed below 90 dollars a barrel on Tuesday as an emergency rate cut by the Federal Reserve failed to assuage market fears of an economic recession in the Unite States. Crude oil for March delivery ended down 71 cents, or 0.8 ...

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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