industry

28 March 2008 - Russia s Sibur group has chosen the Ineos Innovene PP process for a new 200,000tpa polypropylene plant to be built at Tomsk, in south west Siberia. The unit is expected to start up in 2012 and the sale of the licence, by Ineos Technologies, represents the 19th ...
Japan's domestic oil demand is on a steady decline, leading Japanese majors to explore pportunities overseas. In a first of its kind move, a Japanese refiner will build a plant in Asia outside Japan. Idemitsu Kosan Co. and Mitsui Chemicals Inc. have 39.8% acquired stake in a US$5...
China's ethylene output by the year 2010 will be expanded to 17.5 mln tpa. This denotes a capacity addition of almost 8 mln ton by the end of the decade. However, with demand estimated to rise to 26.4 mln tons the capacity increase will not be enough to meet domestic demand for ...
NEW YORK, March 26 -- Crude futures surged more than 4 U.S. dollars a barrel Wednesday on the weak dollar and U.S. inventories report. The Euro reached 1.57 dollars on Wednesday after a buoyant reading on business sentiment in Germany. Meanwhile, the Energy Department said the ...
28 Mar 2008 - The Dow Chemical Company will conduct a scheduled turnaround at its propylene oxide (PO) production plant in Freeport, Texas, for routine maintenance. The 2-3 week turnaround is scheduled to begin on March 27, 2008, and will involve equipment inspections and, if ...
Oil prices have slipped by over one dollar on concerns that a flaying US economy will cause oil demand to soften. Light, sweet crude for May delivery fell to US$100.03 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore. Beginning last ...
NEW YORK - Oil rose on Monday, bolstered by the weaker dollar and supply disruptions ahead of the U.S. summer gasoline season. The U.S. greenback slipped on worries about the gloomy economic outlook for the world's top consumer, boosting oil and other dollar-denominated ...
WASHINGTON - The average price U.S. drivers paid for gasoline climbed to a new high of $3.39 a gallon after rising 5.7 cents over the last week, the federal Energy Information Administration said on Monday. The national average price for regular, self-service gasoline is up 51.3 ...
NEW YORK -- Crude oil jumped more than 1 dollar to close above 111 dollars a barrel on Monday, boosted by weakening dollar and stronger-than-expected retail data. Crude oil for May delivery rose 1.62 dollars, or 1.5 percent, to close at 111.76 dollars a barrel on the New York ...
The U.S. government said Thursday that as much as 4.3 billion barrels of oil can be taken from the Bakken shale formation in North Dakota and Montana using current technology. The U.S. Geological Survey called it the largest continuous oil accumulation it has ever assessed. The ...
South Korea's SK Energy plans to shortly ramp up operations at its 210000 tpa No.1 naphtha cracker, due to improving ethylene margins. SK's No.1 naphtha cracker has been running at 80% operating rates since early-March due to poor margins. This situation has changes as ethylene ...
The European Commission has set May 20 as the deadline for its inquiry into pharmaceutical groups Solvay SA. and BASF AG.'s SolVin proposed joint venture with Russian gas giant Gazprom's petrochemical unit Sibur. The venture, RusVinyl, will see the construction of a E650 mln PVC ...
14 Apr 2008 - Eastman Chemical Company announced it will be closing its manufacturing site located in Wales, U.K., and is ceasing production of EASTMAN Vitamin E TPGS ("TPGS"), which is currently manufactured at the site. The closure decision is the result of the site no longer ...
14 Apr 2008 - Merck KGaA announced that Walter Zywottek (60), General Partner and Member of the Executive Board with responsibility for the Chemicals business sector, will retire on July 1, 2008. Dr. Bernd Reckmann (53) has been appointed to succeed him in this function. Dr. ...
WASHINGTON --Latin American nations have not been as seriously affected by US economic woes as in earlier downturns, but growth in the region will slow this year and next, the International Monetary Fund (IMF) said on Friday. In its latest regional economic outlook for Latin ...
HOUSTON --A bankruptcy court began a hearing on Tuesday to decide whether $2m (?.3m) in pay bonuses should be awarded to the senior managers at Wellman, a bankrupt US producer of polyethylene terephthalate (PET). Wellman proposed the bonuses, saying they would discourage its ...
ExxonMobil Corp. has planned a maintenance shutdown at Campana Refinery (Buenos Aires, Argentina). The maintenance shutdown of its catalytic reformer is planned to commence on April 10, 2008. A maintenance shutdown is also scheduled for the middle distillation treatment, aromatic ...
NEW YORK (Reuters) - Oil prices jumped to a new peak over $114 a barrel on Tuesday amid lingering supply worries and weakness in the U.S. dollar, deepening concern in world consumer nations that a spike in energy costs could cause severe economic damage. Britain's prime minister, ...
LONDON - Britain and the United States blame OPEC for record high oil prices that have exacerbated a global economic slowdown, but some analysts believe the cause for oil's run-up may lie closer to home. British Prime Minister Gordon Brown and U.S. President George W. Bush, both ...
CARACAS - Venezuela's parliament passed a law obliging oil companies to give windfall earnings to the leftist government when world prices are above $70 a barrel, a legislator said on Tuesday. Oil Minister Rafael Ramirez said the new law would bring in an estimated $9 billion ...
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 ...
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 ...
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 ...
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 ...