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Sinopec to sell HK$21.63 bln stake in Tianjin project to SABIC

China Petroleum & Chemical Corp, or Sinopec, Asia s biggest refiner, is close to an agreement to sell a stake in a 21 billion yuan ethylene plant in the northern city of Tianjin to Saudi Basic Industries Corp. This agreement, if signed, will support Sabic's plans to expand in ...

OPEC accepts Ecuador as active member

QUITO, Oct. 23 (Xinhua) -- Ecuador has been accepted as an active member of the Organization of Petroleum Exporting Countries(OPEC) after 15 years of absence, Mines and Energy Minister Galo Chiriboga said on Tuesday. OPEC sent a letter, dated Tuesday, two weeks after Ecuador ...

UK oil giant BP quarterly profits slide by 45%

LONDON, Oct. 23 (Xinhua) -- Britain's oil giant BP on Tuesday reported a 45 percent plunge in its third quarter profits, hit by a slowdown in production and problems in its refinery business. Underlying profits in the three months to Sept. 30 were 3.87 billion U.S. dollars, ...

Indonesia's oil company eyes Iranian oil block

JAKARTA, Oct. 23 (Xinhua) -- After winning an oil and gas tender in Qatar recently, Indonesia's state oil and gas company PTPertamina is now setting its sights on an exploration right in Iran. "We are biding for the Laleh block," Pertamina upstream director Sukusen Soemarinda was ...

US senators back chemical firms on rail issue

WASHINGTON (ICIS news)--Chemical producers along with other manufacturing, utility and agricultural representatives urged the US Senate on Tuesday to provide legislative relief for what they and some senators termed monopolistic rail freight rates. David McGregor, senior vice ...

Formosa resumes buying in spot market after three months

Taiwans's Formosa Petrochemical Corp has returned to the spot market after a three-month absence due to maintenance shutdowns. Formosa's return is marked with the purchase of 75,000 tons of naphtha for H2-December, sourced from an undisclosed seller at a discount of around US$5 a ...

Improved PVC alloys for dark-colored profiles in a wide range of climates

A new line of improved PVC alloys which deliver exceptional high-heat performance and enhanced weathering for dark-colored profiles in a wide range of climates has been introduced by PolyOne Corporation. The range, Geon(TM) HTX Ultra, is consistent with PolyOne's commitment to ...

Qapco's first ethylene cargo supply to India's Finolex

Qatar Petrochemical Co (Qapco) has commenced its first ethylene cargo to Finolex Industries of India from its Ethylene Expansion project (EP2). Supplies are to commence from now until December 31, 2009. The cargo is a result of a contract signed between Qapco and Finolex for ...

Glencore, SK Energy join several players as partners in Singapore petchem plant

Swiss-based commodity trader Glencore, South Korean refiner SK Energy, Kuwaiti investment firm Noor Financial and Chinese polyester producer Jiangsu Sanfangxiang Industrial Group will team up to take a combined 40% stake in a US$2 bln petrochemical plant in Singapore. This ...

Thai PTT to acquire 15% stake in Egyptian-Israeli energy firm

Thai energy giant PTT is in advanced stages of negotiation for purchase of a 15% stake in the Egyptian-Israeli energy firm - EMG (Easter Mediterranean Gas), for US$350 mln. If completed, the deal will likely be carried out through PTT's globally active natural gas subsidiary, ...

Kuwait's UIC plans to invest US$300 mln in PTA plant

Kuwait's United Industries Co (UIC) plans to build a purified terephthalic acid (PTA) plant at an investment outlay of US$300 mln in Kuwait. The plant will have a capacity to produce 400,000 tpa, and will be a joint venture with Industrial Bank of Kuwait (IBK). UIC is a unit of ...

SABIC pauses talks on US$5.2 bln petrochemical project in Dalian

After three years of negotiations, SABIC has stalled talks with its Chinese counterparts for a US$5.2 bln petrochemical project in Dalian area. No advance shave been made by SABIC in its talks with private firm Shide to build a complex, comprising an oil refinery and an ethylene ...

Sumitomo to expand liquid crystal polymer capacity

To meet the growing demand for lighter weight components and miniaturization, liquid crystal polymer (LCP) is increasingly replacing conventional plastics. To meet the growing demand fro LCPs, Sumitomo Chemical Co. Ltd. has planned capacity expansion. Sumitomo plans to expand ...

China objects to US anti-dumping investigation into China's magnetic rubber

BEIJING, octal. 24 (Xinhua) -- China "resolutely opposes" the anti-dumping investigation by the U.S. Department of Commerce into Chinese magnetic rubber, a spokesman of the Ministry of Commerce said on Wednesday. The spokesman said it was the sixth anti-dumping probe by the U.S. ...

Algeria, Venezuela discussing oil, other energy projects

Algeria and Venezuela are discussing oil, energy and other new cooperation projects, Venezuelan government officials said Tuesday. Venezuela's Energy and Oil Ministry said state oil company PDVSA President Rafael Ramirez and his Algerian counterpart, Chakib Khelil, will announce ...

Reliance to invest in Peru

In continuance of a cooperation pact signed earlier, Reliance Industries Ltd. is expected to sign contracts soon for stakes in two oil blocks in Peru. The pact involved cooperation in exploration and production and forming joint ventures for setting up petrochemicals plants.

Polystyrene Market Update, October 22, 2007

Volume: Average Price: Higher The Polystyrene market remains firm, and spot prices continue to move higher, reflecting producers' effort to secure at least a $.02/lb increase for October resin contracts. Should energy and feedstocks continue to move to the upside, producers are ...

Polypropylene Market Update, October 22, 2007

Volume: Good Price: Higher The Polypropylene market is strong; spot prices have advanced about $.03/lb so far this month, reflecting the successful implementation of the October price increases. Since Propylene monomer contracts were also up $.03/lb on average, resin producers ...

New Metallocene PE introduced by ExxonMobil

New Metallocene PE introduced by ExxonMobil, provides new opportunities to increase value through combining high throughput capability, outstanding optical properties and toughness. ExxonMobil Chemical Company will introduce the latest innovation in applying metallocene ...

BPCL sells 30,000 ton November naphtha at premium to European trader

Bharat Petroleum Co Ltd (BPCL) has sold a 30,000-tonne November naphtha cargo at a premium compared to a discount in its previous sale, as per sources. BPCL sold the cargo to European trader Vitol at a single-digit premium to Middle East spot quotes on a free-on-board (FOB) basis...

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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