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Sinopec Shanghai Petrochemical declares H1 loss

High crude oil prices and government caps on refined oil product prices have taken their toll on performance of Chinese oil and petrochem majors. Sinopec Shanghai Petrochemical Co. Ltd. has booked a net loss of US$54.56 mln in H1 under Chinese accounting standards. Price of major ...

Oil falls towards $107 on dollar, economic fears

SINGAPORE - Oil prices dipped towards $107 on Friday, extending a near 8 percent fall this week, as traders shed commodities positions to join a dollar rally and on signs that $100-plus prices were crippling demand. Concerns about the health of the U.S. economy overshadowed an ...

Asia toluene weak on poor fundamentals

SINGAPORE--Weak demand and high regional inventory, together with the recent fall in crude values, are expected to limit any near-term price recovery in Asian toluene prices, traders and producers said on Friday. Prices have declined by a sharp $245-250/tonne from the $1,270...

Westlake Chemical To Construct Chlor Alkali Plant at Geismar, Louisiana

Westlake Chemical Corporation announced recently it will construct a new chlor alkali plant to be located at its vinyls manufacturing complex in Geismar, Louisiana. The new chlor alkali unit is estimated to produce 250,000 electro chemical units (ECU's,) annually, bringing the ...

ExxonMobil in specialty compounding agreement for Asia Pacific region

ExxonMobil Chemical will improve the supply of its specialty compounds in Asia Pacific following the establishment of a compounding agreement with Resin & Pigment Technologies Pte. Ltd. (R&P), a subsidiary of EnGro Corporation Limited. Under the agreement, R&P will manufacture a ...

Dow Epoxy gets approval of EIA to construct LER and GTE plant at Shanghai

Dow Epoxy, a business unit of The Dow Chemical Company, has received approval of environmental impact assessments (EIA) by China's Ministry of Environmental Protection to build a 100,000 tpa liquid epoxy resin (LER) plant and a 150,000 tpa glycerine-to-epichlorohydrin (GTE) plant ...

U.S. oil refining capacity shut at 2.484 million bpd: DOE

WASHINGTON - Thirteen oil refineries along the U.S. Gulf Coast with a combined refining capacity of 2.484 million barrels of oil per day remained shut because of the lingering effects of Hurricane Gustav, the Energy Department said on Wednesday. That is down from the peak 2.716 ...

Oil under $100? Lower, but not low enough

CHICAGO - Oil still costs too darn much. Crude has fallen more than 25 percent to below $110 per barrel from its all-time highs, and some economists even predict it could dip to $80 within months. But if $110 oil provides some relief for U.S. consumers at the pump -- and $80 ...

Weak shoe demand halts pricey Asia EVA

SINGAPORE--Asian ethylene vinyl acetate (EVA) with 18% VA content prices have fallen 8.5-14% from July highs due to resistance from China and India s downstream footwear industries amid slowing global economies, producers and end-users said on Thursday. The product hit record ...

Oil holds at $109 on demand concerns, storm threats

SINGAPORE - Oil prices were little changed near $109 a barrel on Thursday as traders weighed concerns over slowing demand from major consumer countries against further hurricane threats to the U.S. oil sector. Prices have tumbled by more than $6 since Friday after Hurricane ...

Clarity breakthrough in metallocene-based polyolefin copolymer

LyondellBasell's new RM2073 specialty grade resin (metallocene-based polyolefin copolymer) produced using the company's proprietary single-site catalyst technology, has been developed to provide extremely high clarity. RM2073 will stand as a cost-effective alternative to ...

Asia PX lowest in 6 months, yet to bottom

SINGAPORE--Paraxylene (PX) spot prices in Asia ebbed to their lowest point in six months late last week, with further weakness possible due to poor demand and excess supply, buyers and sellers said on Monday. PX tumbled $100/tonne week-on-week to close at $1,250-1,260/tonne CFR ...

Iran sees possible oil over-supply in 2009: report

TEHRAN - Continued OPEC production at current levels would lead to over-supply of its crude in the first half of 2009, causing prices to drop, Iran's OPEC governor was quoted as saying on Sunday. Mohammad Ali Khatibi, speaking two days before OPEC ministers meet in Vienna, also ...

Unexpected barriers

The rise of China as a major source of foreign direct investment, a natural result of the gradual appreciation of the country's currency and its accumulation of huge foreign exchange reserves, should be a boon to a lasting global recovery. However, the unjustified hostility that ...

Iraq says China firm must start oil work in 2 months

BAGHDAD - A Chinese state oil firm must start work developing Iraq's Ahdab oil field within the next two months or risk losing the $3 billion service contract, Iraq's oil minister said. The Iraqi government said last week it had approved the contract between Iraq's North Oil ...

Oil production capacity in Gulf region to increase by 10 mln bpd by 2015

ABU DHABI -- The combined oil production capacity in the oil-rich Gulf region is expected to increase by about 10 million barrels per day (bpd) by 2015 as a result of a huge amount of investment poured into the region's oil industry, local newspaper Gulf News reported on Monday. ...

New HDPE resins offer improved resistance to bio-diesel fuels

LyondellBasell Industries has commercialized a family of newly patented Lupolen high density polyethylene (HDPE) resins that offer improved resistance to bio-diesel and may therefore be of interest to manufacturers of automotive plastic fuel tanks. The new resin, addressed to the ...

Innovations and new applications are key to growth in global plastic market

Global plastics market will continue to be stimulated based on the availability of improved materials and increasing demand from existing and niche market applications spanning automotive to pharmaceuticals, computers to packaging, and construction to consumer electronics, as per ...

Kazakh Kashagan might start oil production in 2014

ASTANA - Commercial production at Kazakhstan's giant Kashagan oil field is expected to start later than the agreed 2013 launch date, a Kazakh oil industry official said on Thursday. Tumir Kulibayev, head of the influential KazEnergy association whose members include major Kazakh ...

Oil to weaken until OPEC gives policy signal: Barclays

LONDON - Oil prices are likely to remain under pressure until OPEC gives a clear signal on pricing/production policy, Barclays Capital (BARC.L: Quote, Profile, Research, Stock Buzz) said on Thursday. "We suspect that prices will continue to test the downside until key oil ...

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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