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Gasoline price at new record, diesel falls: EIA

WASHINGTON - The U.S. average retail price for gasoline rose a penny over the last week to a new high of $3.61 a gallon, while the price of diesel fuel fell, the federal Energy Information Administration said on Monday. The national price for regular, self-service gasoline is up ...

Why oil prices are at a record high

U.S. crude oil hit an all-time high of $120.21 a barrel on Monday. Robust demand for crude and a weak dollar have fuelled the rally from a dip below $50 at the start of 2007. Adjusted for inflation, oil is now above the $101.70 peak hit in April 1980, according to the Internation...

Record oil not producers' fault: Angola oil min

HOUSTON - Angola's minister of petroleum on Monday said producing nations are not responsible for record-high crude oil prices and they are not profiting from them. "OPEC's interest is for a dialogue," Desiderio Costa, Angola's minister of petroleum, told reporters after speaking ...

Rhodia to award first Rhodia Pierre-Gilles de Gennes Prize for Science & Industry

Rhodia will award the first Rhodia Pierre-Gilles de Gennes Prize for Science & Industry on May 15, one year after the death of Professor Pierre-Gilles de Gennes, winner of the Nobel Prize for Physics in 1991. French Minister for Higher Education and Research, Val rie P cresse, ...

Dow Europe GmbH Announces Price Increases for Polystyrene Products

Raw material and energy costs for Dow remain high with respect to polystyrene production, and margins continue to be at unacceptably low levels. As a result, Dow Europe GmbH is announcing a price increase across the Indian, Middle Eastern, European and African regions for all ...

Oil companies settle groundwater contamination suit

NEW YORK - A dozen oil companies agreed to pay $423 million in cash plus clean-up costs to settle litigation over groundwater contamination from the gasoline additive, MTBE, lawyers representing public water utilities and public agencies in 17 states, told Reuters. The settlement...

Phenomenex Publishes Biofuels Analysis Guide

Phenomenex Inc. announced the availability of a new publication, "The Essential Guide for Biofuel Analysis." Designed to meet the needs of the growing biofuels industry, the new guide provides technology information and troubleshooting tips for biofuel production monitoring and ...

Consolidation may boost PS in Americas

HOUSTON (ICIS news)--The polystyrene (PS) market in the Americas may start recovering margins as producers continue to consolidate, a consultant said on Monday. "Right now the industry is at a crossroads," said Robert Bauman, vice-president of polymers for Nexant, a consultant. ...

Eastman completes specialty copolyester expansion

Eastman Chemical Company has completed expansion of specialty copolyester capacity at its manufacturing site in Columbia, S.C. The additional copolyester production is expected to come on-line June 2008. This expansion is in line with its plans to increase global copolyester ...

Oil prices spike past US$120 on renewed supply concerns and weaker dollar

Renewed supply threats and a weaker dollar have spiked oil prices beyond US$120 per barrel. Light, sweet crude for June delivery touched a new trading record of US$120.36 a barrel on the New York Mercantile Exchange before retreating to US$119.97. Supply outages/threats emerged ...

"Super-spike" could lift oil to $200: Goldman

LONDON - Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs said in a research note. "We believe the current energy crisis may be coming to a head, as a lack of adequate supply ...

Oil rockets to record $122 on supply worry

NEW YORK - Oil shot to a record above $122 a barrel on Tuesday on supply worries and the weak dollar, extending a rally that has doubled prices over the past year and has some experts forecasting a potential spike to $200. U.S. crude settled up $1.87 at $121.84 a barrel after ...

Kuwait aims to sign Exxon oil deal by July

KUWAIT - OPEC-member Kuwait has yet to conclude a deal with U.S. major Exxon Mobil Corp to boost output of heavy crude, but still aims to sign the contract by July, a top Kuwaiti oil official said on Tuesday. Raising heavy crude capacity is part of Kuwait's plan to increase its ...

Dollar falls on Fannie Mae results, oil price

New York -- The dollar fell against major currencies on Tuesday as Fannie Mae, the largest provider of U.S. home financing, reported weaker-than-expected results and oil prices hit new record. Fannie Mae reported losses of 2.2 billion dollars in the first quarter, or 2.57 dollars ...

Oil bears hard to find after market's record run

LONDON - Bears are a rare breed, but not yet extinct in an oil market where prices have doubled in the past 12 months and risen by a quarter this year. History shows price booms do not usually run on uninterrupted. But for oil, which has been rising since 2002, many of the ...

OPEC head says no shortage in oil market

VIENNA -- General Secretary of the Organization of the Petroleum Exporting Countries (OPEC) Abdullah Salem El-Badri said here on Thursday although the oil prices rose sharply in recent months, there was clearly no oil shortage in the market. He said in a statement that the ...

U.S. Oil companies to pay $423 mln for water contamination

LOS ANGELES -- Several oil companies have agreed to pay 423 million U.S. dollars to settle more than 500 lawsuits brought by water suppliers and users in California and 19other states over groundwater contaminated with the gasoline additive MTBE, it was reported Thursday. The ...

Oil prices break 124 dollars

NEW YORK -- Crude oil topped 124 U.S. dollars a barrel Thursday afternoon after European Central Bank decided to leave interest rates unchanged. Light, sweet crude for June delivery surged to 124.61 dollars a barrel in the after-market electronic trading on the New York ...

BASF to strengthen its automotive business in India

08 May 2008 - BASF announced its plans to expand its offerings for the automotive industry in India with investments in plants and technology. The company will build a new engineering plastics compounding plant at its existing site in Thane, which is expected to come on stream by ...

Another blackout strikes Yeosu National Industrial Complex in South Korea

After a major power failure that occurred on Saturday, another blackout struck Yeosu National Industrial Complex in South Korea. It is suspected that the accident occurred at the Yeochun NCC 3 factory due to a malfunctioning transformer. The transformer was installed when 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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