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Crude backs off after hitting $90 for first time

NEW YORK, Oct. 19 (Xinhua) -- Crude-oil futures retreated Friday after hitting 90 U.S. dollars a barrel for the first time. The November light-crude contract peaked at 90.02 dollars a barrel before slipping back to end down 87 cents at 88.60 dollars on the New York Mercantile ...

BASF increases prices for Ethylene carbonate and propylene carbonate

With immediate effect or as contracts allow, BASF is increasing the sales prices for ethylene carbonate and propylene carbonate worldwide by Euro120 per metric ton in Europe and US$170 per metric ton in NAFTA and Asia. These price adjustments are necessary to support BASF's ...

Argentina jacks up tax rates on oil and gas concessions

Argentina has hiked the tax rates on its oil and natural gas concessions, a planning ministry spokeswoman said Thursday, with the rate for production rising 720%. Argentina's President Nestor Kichner issued a decree on Wednesday authorizing an increase of 720% in the concession ...

US propylene stocks drop 797,000 bbls over five weeks: EIA

US propylene stocks for non-fuel use dropped 57,000 barrels in the week ending October 12, according to the Energy Information Administration Thursday. Stock levels were at 1.907 million barrels, down from 1.964 million barrels the previous week, which still puts them at the ...

BCPL and ONGC sign Feedstock Supply Agreement for Assam Gas Cracker

Brahmaptura Cracker and Polymer Limited (BCPL) has signed the Feedstock Supply Agreement with Oil and Natural Gas Commission (ONGC) for the 2,80,000 tpa project being set up at Lepetkata, Assam. With the signing of Feedstock Agreement with ONGC, BCPL has now signed Feedstock ...

JG Summit acquires 17.7% stake of Marubeni Corp. in JG Summit Petrochemical Corp.

JG Summit Holdings Inc., the holding firm of the Gokongwei group, has regained 100% ownership of its subsidiary JG Summit Petrochemical Corp. This has been possible with the acquisition of 17.7% stake held by Japanese conglomerate Marubeni Corp. in JG Summit Petrochemical Corp. ...

Andhra Petrochemicals Ltd plans oxo alcohols capacity expansion at Visakhapatnam

The Andhra Petrochemicals Ltd. has planned expansion of its existing oxo alcohols production facility in Visakhapatnam, India. The expansion will increase production capacity to a total of 73,000 metric tpa of 2-ethylhexanol, normal butanol and iso-butanol from the current ...

Maintenance shut down at Thai PTT ethylene plant planned for 2008

Thailand's largest olefin manufacturer - PTT Chemical Pcl, has planned maintenance shutdowns at its ethylene plants in 2008. PTT plans to shut two of its three ethylene plants in Map Ta Phut, in Rayong province, for maintenance. The first plant, with 461,000 tpa output, ...

Oil jumps above $88 despite big supply rise

NEW YORK, Oct. 17 (Xinhua) -- Oil marched to a new all-time high near 89 dollars a barrel on Wednesday as investors fretted over possible military action in northern Iraq and a potential supply crunch this winter. Turkey's parliament granted its troops permission on Wednesday to ...

Qatar Holding to develop world-scale petrochemical complex at Mesaieed

Qatar Holding, wholly-owned by Qatar Petroleum and South Korea's Honam Petrochemical Corporation, has inked a heads of agreement (HoA) to develop a multi-billion dollar world-scale petrochemical complex at Mesaieed, with a capacity to produce 1.7 mln tpa of propylene, polypropyle...

GCC oil refining capacity projected to reach 6.3 mln bpd by 2010

ABU DHABI, Oct. 8 (Xinhua) -- The total oil refining capacity of the six members of the Gulf Cooperation Council (GCC) is projected to reach 6.3 million barrels per day (bpd) by 2010, local newspaper Gulf News reported on Monday. According to a report released by the Abu Dhabi...

Sinopec to finance projects with issue of 30 bln yuan worth 6-yr bonds

In a move to fund its projects, Asia's largest refiner - China Petroleum & Chemical Corp (Sinopec) plans to issue 6-year bonds with warrants to the tune of 30 bln yuan. Proceeds from the bond issue will be invested in two ethylene plants in Tianjin in northern China and in ...

Sasol expands its chemical business in China

28 Sep 2007 - Sasol announced the opening of an office in Shanghai to market its diverse range of chemical solvents in China. Sasol Chemicals Shanghai Co Ltd (SCS) will initially market products from the global Sasol Solvents business. Sasol Solvents operates plants in South ...

NYMEX crude opens 42 cents higher on Brent rally

November crude futures on NYMEX opened 42 cents higher at $83.30/barrel Friday, pulled up by a rally in front-month ICE Brent. Brent continued its bull run and hit an all-time high of $81.05/b Friday morning, after settling at a record level Thursday. WTI has strengthened since ...

US' Eastman Chemical to purchase Terra's Beaumont assets

Eastman Chemical Company has exercised its option to purchase Terra Industries, Beaumont, Texas assets, Eastman announced via press release Friday. The sale, which includes methanol and ammonia facilities, is expected to close on or before January 1, 2009. Further details were ...

World's first in TPUs to be launched at K 2007

Merquinsa, leader in specialty TPUs for adhesives & elastomers, will confirm its commitment to innovation with the announcement of a unique TPU technology breathrough intended to be commercialized within the next months. A new family of transparent TPUs will also be introduced ...

DuPont and Plantic's starch-based bio materials JV to focus on food and other packaging

DuPont and Plantic Technologies Limited, an Australian company specializing in starch-based biopolymers, plan to collaborate in the development and sale of renewably sourced polymers made from Plantic technology. Plans include the collaborative development of new, renewably ...

New fast cycling Santoprene TPVs that reduce processing time

ExxonMobil Chemical Company has introduced a new family of fast cycling Santoprene thermoplastic vulcanizate (TPV) grades which can be used to replace thermoset rubber and thermoplastic elastomers (TPEs) in "thick, chunky" applications. The new grades can reduce processing time ...

RIL and Gail join forces to explore petrochemical plants in Russia

Reliance Industries (RIL) and state-owned Gail India are jointly scrutinizing the feasibility of setting up petrochemical plants in Russia. Both companies had earlier signed an MoU to collaborate in downstream projects overseas. Though both the companies have not spelt out the ...

China's gasoline imports up almost 8,000% August

BEIJING, Sept. 28 (Xinhua) -- China's imports of gasoline hit a 10-year high in August after the country's economic planner ordered state-owned oil firms to make up shortfalls in supply. Imports reached 45,000 tons last month, up 7,896 percent from August last year. Meanwhile, ...

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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