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BASF further expands its position for engineering plastics in Europe

BASF has signed an agreement with SABIC Innovative Plastics on the acquisition of SABIC Innovative Plastics shares in the PBT joint venture, BASF GE Schwarzheide GmbH & Co. KG. PBT (polybutylene terephthalate) is an engineering plastic. The shares will be transferred on December ...

Italian PM: Oil price driven up by speculation

ROME, Nov. 11 (Xinhua) -- The price of crude oil is being driven higher by speculation in financial markets, Italian Prime Minister Romano Prodi said Sunday. Addressing the opening of the 20th World Energy Congress, Prodi said "the speculation must be contained in the future." ...

China plans to build new oil reserve base in southwest

CHENGDU, Nov. 29 (Xinhua) -- China will build a new strategic petroleum reserve in Wanzhou, a district in Chongqing Municipality in the southwest, once final approval is obtained from the central government. Wanzhou District Government and the Sichuan Bureau of Material Reserve ...

Vietnam to stop subsidizing oil price in 2008

HANOI, Nov. 29 (Xinhua) -- Vietnam will stop subsidizing the prices of oil and petroleum products and some other industrial items such as coal and cement starting from next year, local newspaper Pioneer reported Thursday. Vietnam has annually compensated some 10 trillion ...

Crude prices rise slightly after Enbridge pipeline reopens

NEW YORK, Nov. 29 (Xinhua) -- Crude prices ended slightly higher Thursday after rebounding as high as 95.17 U.S. dollars a barrel as a fire at a pipeline serving the Midwest raised new supply concerns. The fire late Wednesday along the Enbridge Energy Partners LP Lakehead ...

Global Styrene market in the midst of change

The imminent start up of the first of a series of new cost advantaged Middle Eastern styrene units is expected to change the status quo in the styrene market, as per a report by Chemical Market Associates, Inc. (CMAI). The Middle East's first unit has yet to start up, others are ...

Surging naphtha prices affect bottom line of ethylene makers

Surging naphtha prices have affected the bottom line of ethylene makers. Producer margins, that have entered negative territory, have affected cracking rates at plants across Asia. Very high prices of liquefied petroleum gas (LPG) - the alternative feedstock in ethylene cracking, ...

US weekly chemical railcar traffic rises 7.2%

TORONTO (ICIS news)--US chemical railcar traffic for the week ended 24 November rose 7.2% from the same week last year, the Association of American Railroads (AAR) said on Thursday. Chemical railcar loadings for the week totalled 26,156, compared with 24,402 for the same week in ...

World Cumene/Phenol and Polycarbonate Analysis

Chemical Market Associates, Inc. (CMAI) has completed a study on world Cumene/Phenol & Polycarbonate Analysis. The analysis comprises eleven years of study: five years of history, the current year, and five years of forecast. Some key issues examined in this analysis include ...

Columbia to set up integrated petrochemical and plastic cluster by 2010

Ten Colombian and overseas companies will be part of an integrated petrochemical and plastic cluster at an investment outlay of $150000 mln. The initial investment of US$150 mln will be spent on construction of infrastructure. By 2010, an additional US$50 mln investment will be ...

US probes dumping of, subsidy on, Chinese, German sodium nitrate

The US is investigating dumping of sodium nitrate from China and Germany, and an unfair subsidy on sodium nitrate produced in China, after a petition by local producer General Chemical LLC, of New Jersey, the Department of Commerce said Thursday. The probes will focus on sodium ...

Ineos Nova to shutter polystyrene plant

In a move that is intended to remove high-cost capacity, Ineos Nova has decided to shutdown its polystyrene facility located at Belpre, Ohio by early next year; and take a US$65-million charge. The shutdown, set for before January 31, 2008, will reduce the company's North ...

China uncovers 6 price manipulation cases amid oil shortages

BEIJING, Nov. 28 (Xinhua) -- China's top economic planning agency said on Wednesday that it has uncovered six diesel price manipulation cases in a nationwide inspection. A total of six petrol filling stations sold diesel at prices up to 42 percent higher than the government ...

Mitsubishi Chemical to invest 1.6 bln yen in Thailand, India

Japan Polychem Corp., a subsidiary of Mitsubishi Chemical Corp., plans to invest a total of 1.6 billion yen, on one plant each in Thailand and India to make polypropylene-based resin. The Thai plant, to be constructed in Chonburi Province, will have the capacity to produce 10,000 ...

Basell acquires PP compound maker Solvay Engineered Polymers

Solvay has signed a stock purchase agreement with Basell to sell its subsidiary Solvay Engineered Polymers (SEP), a leading supplier of polypropylene compounds. This transaction will be subject to relevant regulatory approval, and is estimated to be completed early in 2008. SEP, ...

Neste Oil to build world's largest bio-diesel plant in S'pore

HELSINKI, Dec. 1 (Xinhua) -- The Finnish company Neste Oil planned to build the world's largest bio-diesel plant in Singapore, Finnish media reported Saturday The new plant, with an annual capacity of 800,000 tons, is expected to be completed in late 2010. It will use the company...

BASF to raise plasticizer capacity at Ludwigshafen

Strong customer demand from all over Europe has prompted BASF to plan an increase in production capacity of oxo alcohols and plasticizers at Ludwigshafen. Plasticizer capacity will be hiked by 40,000 to 300,000 tpa, by Q2-08. Capacity of oxo alcohols will be increased by 80,000 ...

Chinese chemical giant tenders winning bid for Saudi phosphorus project

GUIYANG, Nov. 30 (Xinhua) -- Guizhou Hongfu Industry and Commerce Co., Ltd. has won the bid for a Saudi Arabia beneficiation project, the company announced on Thursday. The Chinese phosphorus chemical giant successfully tendered to construct a concentrator capable of processing ...

Crude prices fall below $89

NEW YORK, Nov. 30 (Xinhua) -- Crude prices fell below 89 U.S. dollars a barrel Friday on concerns of weakening demand and expectations that the Organization Petroleum Exporting Countries (OPEC) would raise output next week. Light, sweet crude for January delivery fell 2.30 ...

BASF raises prices for polyalcohols

BASF is to increase its prices in Europe for neopentylglycol, trimethylolpropane and hydroxypivalic acid neopentylglycolester with immediate effect or as allowed by contract: Neopentylglycol (NPG) / + euros 0.15/kg Trimethylolpropane (TMP) / + euros 0.19/kg Hydroxypivalic acid ...

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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