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Sinopec processes 6.3% more crude oil

BEIJING, Jan. 22 -- Sinopec Corp, Asia's largest refiner, processed 6.3 percent more crude oil last year, after the government called for local plants to boost production. The Beijing-based company processed 155.6 million tons of crude in 2007, about 3.13 million barrels a day, ...

GAIL to invest in Chinese natural gas sector

GAIL India is all set to mark its foray into the Chinese market with several investments in the natural gas sector, including : * A coal-based petrochemical plant in Yulin * A compressed natural gas (CNG) project in Beijing * A coal-bed methane (CBM) project in Mongolia. GAIL is ...

ExxonMobil to shutter naphtha unit at French refinery

Production is to be restricted at Exxon Mobil Corp.'s naphtha processing unit in France in October. The steam cracker in Gravenchon, Normandy, will be idled for 4-5 weeks of routine maintenance. Another shutdown has been planned at the 233,000 bpd refinery in February and March ...

OPEC weekly oil price drops for second consecutive week

VIENNA, Jan. 21 (Xinhua) -- The weekly average oil price of the Organization of Petroleum Exporting Countries (OPEC) dropped to 87.18 U.S. dollars per barrel last week, sharply down by 3.65 dollars from the previous week, the Vienna-based cartel said Monday. OPEC's daily average ...

Thai RSS3 rubber price

BANGKOK, Jan. 21 (Xinhua) -- The following are the price of Ribbed Smoked Sheets Grade 3 (RSS3) at the Hat Yai central rubber market in Songkhla Province of southern Thailand and the Bangkok FOB price on Monday, in baht per kilogram (about 33 baht to one U.S. dollar): Monday ...

UAE: World oil demand to reach 118 mln bpd by 2030

ABU DHABI, Jan. 21 (Xinhua) -- A senior energy official of the United Arab Emirates (UAE) said on Monday that the world's oil demand will reach 118 million barrels per day (bpd) by 2030, the official Emirates News Agency reported. The forecast was made by the UAE Energy Minister ...

Indonesian coal producers eye market-based pricing system

JAKARTA, Jan. 21 (Xinhua) -- To prevent illegal coal trading due to the introduction of the proposed domestic market obligation (DMO) policy, producers in Indonesia urged the government to introduce a market-based pricing system, local press reported Monday. The Indonesian Mining ...

EU rejects UK call for moratorium on biofuels

PARIS (ICIS news)--EU Energy Commissioner Andris Piebalgs on Monday strongly criticised British calls for a moratorium on the development of biofuels because of their uncertain environmental impact. The commissioner was responding to a just released report by the environmental ...

Total combines PE and PP business units wef January 1, 2008

In a move that will facilitate greater flexibility in meeting the market needs, Total Petrochemicals USA, Incorporated (TPI) has combined its Polyethylene and Polypropylene business units into a new Polyolefins Business Unit, with effect from January 1, 2008. Combining the ...

Illegal pricing clampdown brings down liquefied gas prices

BEIJING, Jan. 15 (Xinhua) -- The clampdown on illegal pricing has helped to bring down liquefied gas retail prices by up to 19 percent in major Chinese cities, the nation's top economic planning agency said on Tuesday. The government has taken a series of measures, including a ...

U.S. crude oil inventories rebound sharply last week

WASHINGTON, Jan. 16 (Xinhua) -- U.S. commercial crude oil inventories posted a big gain unexpectedly last week, rebounding from consecutive eight weeks of declines, the Energy Department reported Wednesday. In the week ended Jan. 11, the nation's commercial crude oil inventories ...

Nova Chemicals fined over US$550,000 for discharging benzene

Nova Chemicals (Canada) Ltd. has been fined US$550,000, along with a victim fine surcharge, after pleading guilty to discharging benzene to the air from its facility at Sarnia, Ontario that caused an adverse effect. On September 7, 2005, the company emergency personnel were ...

LUKOIL Chemical Group's new strategy that has enabled a turnaround

LUKOIL Chemical Group's activities include conversion of hydrocarbons produced by Russian company LUKOIL, as well as production of a wide range of petrochemicals to meet demand from domestic Russian as well as overseas markets. The company's overall development strategy until ...

Gas pipeline gets 16 bln yuan boost

BEIJING, Dec. 29 -- PetroChina Co Ltd, the listed arm of China National Petroleum Corp (CNPC), and another CNPC subsidiary will invest a combined 16 billion yuan to build a gas pipeline from China to Turkmenistan. "PetroChina and China National Oil and Gas Exploration and ...

Russia to raise oil export duties to record $333.8 per ton

MOSCOW, Dec. 29 (Xinhua) -- Russia will raise oil export duties by 58.4 U.S. dollars to 333.8 U.S. dollars per ton from Feb. 1 in line with global market trends, RIA news agency reported on Saturday citing a senior Finance Ministry official. "We are reaching an all time record ...

Crude prices fall on concerns of U.S. economic growth

NEW YORK, Dec. 31 (Xinhua) -- Crude prices fell slightly Monday on concerns about U.S. economic growth. The U.S. National Association of Realtors reported Monday that sales of existing homes in the United States edged up 0.4 percent in November to a pace of 5 million. The sales ...

Indonesia's oil production below target

JAKARTA, Dec. 31 (Xinhua) -- Indonesia's oil production averages 899,000 barrels per day (bpd) until December 2007, much below the target of 950,000 bpd in the state budget, according to local media on Monday. Falling oil production has caused revenues in the oil and gas sector ...

Iran petrochemical projects to have 300% growth in next 10 years

Iran's petrochemical projects will witness a 300% growth in 10 years, with domestic petrochemical output soaring to 98 million tons at the end of 10-year plan, 2014, fetching the country US$20 bln pa. Of the 12 petrochemical complexes scheduled to come into operation in the ...

Grenland Group to modify Noretyl AS ethylene cracker in Norway

Noretyl AS owns and operates an Ethylene cracker at Rafnes in Norway, for which it has signed a modification contract with Grenland Group. The contract includes procurement of material and prefabrication of steel and pipe systems together with installation of process equipment ...

Brazilian bank finances major gas pipeline project

RIO DE JANEIRO, Dec. 27 (Xinhua) -- Brazil's National Economic and Social Development Bank agreed on Thursday to lend 4.5 billion reais (2.5 billion U.S. dollars) to a major gas pipeline project linking the gas-producing southeast to the northeastern region of the country. The ...

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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