industry

DUBAI - Iraq is in advanced talks for an oil service contract with a consortium of Vitol, Anadarko (APC.N: Quote, Profile, Research) and Dome to boost output by 100,000 barrels per day at its Luhais oilfield, industry sources said on Wednesday. The contract is the sixth in a ...
MOSCOW - Russian refined products exports fell in April following an increase in export duties and due to maintenance at a number of refineries, Energy Ministry data showed. Russian oil companies exported 7,752 tonnes per day of gasoline in the first 29 days of April, down by 35...
PARIS/LONDON - French oil major Total posted higher-than-expected first quarter net profits, excluding one-offs and inventory gains, of 3.25 billion euros ($5.03 billion) as record oil prices made up for the weak dollar and a drop in refining margins. The world's fourth-largest ...
TOKYO - State-owned China National Petroleum Corp (CNPC) is looking at taking a 49 percent stake in Nippon Oil Corp's Osaka refinery, a move that would match burgeoning oil product demand in the world's second largest energy consumer with Japan's growing refining surplus. Japan's ...
Rio Tinto has dealt China's struggling steel mills another blow by giving notice that the Q3 FOB price for iron ore will rise to US$147 per ton, 19.5 percent up on Q2. According to Zhao Xiang'e, a steel analyst at Shanghai Shenyin Wanguo Research and Consulting Co., the knock-on ...
BASF announced that it has signed a definitive agreement to sell its manufacturing facility in Shreveport, Louisiana and the related contract manufacturing business for finished pharmaceuticals to Dr. Reddy's Laboratories, an international pharmaceutical company headquartered in ...
VIENNA -- The daily average oil prices of the Organization of Petroleum Exporting Countries (OPEC) jumped back to 111.6 U.S. dollars per barrel (dpb) Monday, the Vienna-based cartel said Tuesday. The prices soared 4.61 U.S. dollars from the last trading day and closed only 0.06 ...
NEW YORK - Oil jumped more than 3 percent to over $116 a barrel and U.S. stocks mostly rose on Friday as U.S. jobs data that was much better than economists' weak predictions eased fears the United States was sliding into a deep recession. The dollar jumped to two-month highs ...
Baosteel, China's biggest steel maker, has lowered its quoted steel prices for July, especially on auto sheets, according to an unreleased document that has aroused great attention within the industry on Thursday. The report shows the prices of automobile steel and high strength ...
VIENNA -- The daily average price of the Organization of Petroleum Exporting Countries (OPEC) rushed up to a new record of 127.59 U.S. dollars per barrel (dpb) on Thursday, according to the Vienna-based cartel on Friday. The price fluctuated slightly between 118.73 dpb and 119.27 ...
China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy. BYD tops Businessweek's annual Tech 100 list Information Times Chinese car and battery manufacturer BYD has surprisingly grabbed top ...
East Coast Oxygen, a 50/50 production joint venture between Linde North America and Air Products, has expanded the production capacity of its facility in Bethlehem, Pennsylvania. The new liquefaction unit, which was recently commissioned, boosts production capacity by almost 600 ...
Brazilian energy giant Petroleo Brasileiro (Petrobras) and partner Uniao das Industrias Petroquimicas (Unipar) are studying the possibility of an initial public offering (IPO) for a new southeast Brazil petrochemicals plant. The petrochem plant will be Brazil's second-largest ...
DUBAI - A steep fall in oil from a record of $135 a barrel would have a drastic impact on oil producers' spending power, but they could balance their budgets with prices far below current levels. Members of the Organization of the Petroleum Exporting Countries (OPEC) have raised ...
LONDON - Traders in oil and other booming commodities markets, whose prime focus was once short-term supply and demand, have shifted attention to fundamentals over a much longer timescale. The change has been signaled by record-high oil prices for contracts stretching out to 2016...
WASHINGTON - U.S. Energy Secretary Sam Bodman told Congress on Thursday that crude oil prices have reached record-high levels of $135 a barrel because global oil production has failed to keep up with demand. "The high-priced energy environment is being driven by the fact that ...
WASHINGTON - The U.S. Air Force operates the "world's largest airline" and every $10-per-barrel increase in crude oil boosts its annual operating costs by $610 million, Air Force Secretary Michael Wynne said on Thursday. The Air Force's bill for aviation fuel was about $6 billion ...
ABERDEEN, Scotland -- After successfully forecasting current oil prices at the first All Energy conference in 2001, John Westwood, an energy expert, said here on Wednesday that "more pain is to come" for world energy. Speaking at the opening session of the All Energy'08, the 8th ...
Dow Corning Corp. opened a Solar Solutions Application Center in Freeland, Michigan, to collaborate with customers to develop, evaluate and pilot materials solutions used to manufacture solar panels. The 27,000-square foot, state-of-the-art facility represents an investment of ...
MOSCOW - Russia's influential deputy prime minister Igor Sechin has held a second meeting in two weeks with top oil executives to discuss how to avoid a decline in oil output this year, industry sources told Reuters on Monday. "It seems that he has been given a task to prevent ...
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 ...