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5 year investment program planned by Cepsa to expand petrochem capacity

As part of a ?.5 bln global investment plan, Spanish oil and chemicals major Compa a Espa ola de Petr leos, (CEPSA) plans to expand its petrochemicals capacity. Current production includes purified terephthalic acid (PTA), additives dimethyl terephthalate (DMT) and purified ...

BP says BTC oil pipeline in brief shutdown

LONDON - The BP Plc-led Baku-Tbilisi-Ceyhan (BTC) oil pipeline has shut down for a short period of maintenance, BP said on Tuesday as indications emerged of delays to October exports. BP said the work was unrelated to a gas leak at a Caspian Sea oilfield that as of Monday had cut ...

China CNOOC delays refinery startup to 2009

TIANJIN, China - China National Offshore Oil Corporation (CNOOC), parent of CNOOC Ltd (0883.HK: Quote, Profile, Research, Stock Buzz), has delayed the start-up of its first major refinery to 2009, General Manager Fu Chengyu said on Saturday. "We will complete infrastructure ...

Petrobras announces discovering new oil field in Brazil

RIO DE JANEIRO -- Brazil's state-owned oil and gas giant Petrobras announced on Friday the discovery of a light oil field in Santos Basin in southeast Brazil. According to the company, the oil field is located in sandy reservoirs above the salt layer, and confirms that the good ...

Researcher working on destruction of chemical weapons

- America's war on terror includes fighting the dark side of deadly chemical agents, and Texas A&M University chemist Dr. Frank Raushel is helping with the fight by developing an enzyme that might neutralize one such chemical agent, the organophosphates. Synthetic organophosphate...

New research shows why metal alloys degrade

Metal alloys can fail unexpectedly in a wide range of applications - from jet engines to satellites to cell phones - and new research from the University of Michigan helps to explain why. Metal alloys are solids made from at least two different metallic elements. The elements are ...

China PE, PP see biggest fall in 10 years

SINGAPORE--The China polyolefins market has seen the steepest week-on-week price fall in a decade, as some Asian and Middle East producers, succumbing to mounting inventory pressure, slashed prices by more than $150/tonne, traders and producers said on Friday. Key benchmark ...

Caixa offers Mexico's Slim 10 pct of Repsol-paper

MADRID - Repsol YPF (REP.MC: Quote, Profile, Research, Stock Buzz) core shareholders La Caixa and Sacyr Vallehermoso (SVO.MC: Quote, Profile, Research, Stock Buzz) are offering Mexican telecoms magnate Carlos Slim a 10 percent stake in the oil company, daily El Pais reported ...

TPAO, Exxon near Black Sea oil search deal-sources

ANKARA - Turkish state oil company TPAO and U.S. company Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz) are close to a deal on exploring for oil in the Black Sea, state energy sources said on Thursday. Major oil importer Turkey has stepped up efforts in recent years to ...

Russia wants to influence global oil price

PETROPAVLOVSK-KAMCHATSKY, Russia - Russia wants to influence global oil prices by publishing output forecasts and delaying the development of oilfields, Energy Minister Sergei Shmatko said on Thursday. Shmatko said Moscow's policy would not involve coordinated action with OPEC ...

Full oil output at Indonesia's Cepu may be delayed

JAKARTA - Full-scale production at Indonesia's biggest oil find in a decade, the Cepu block, could be delayed by a year if Jakarta and ExxonMobil fail to resolve differences over storage facilities, an official of the oil major said on Friday. The giant Cepu oil block, jointly ...

Insecurity biggest threat to Iraq's power plans

DUBAI - Insecurity, a lack of fuel and runaway demand are the biggest challenges to Iraq's plan to end chronic power shortages by 2012, the electricity minister said. More than five years after U.S. forces invaded to topple Saddam Hussein and with violence at a four-year low, ...

Kuwait's KIA invests $1.1 billion in local bourse

KUWAIT - The Kuwait Investment Authority, the Gulf Arab state's sovereign wealth fund, has invested up to 300 million dinars ($1.12 billion) in local stock market funds after the recent slide, newspapers said on Sunday. Daily al-Qabas said in an unsourced report KIA, which ...

New catalyst for Fischer-Tropsch synthesis to aid gas-to-olefin production

Experts from BASF's Catalysis Research in Ludwigshafen have now developed a new catalyst for Fischer-Tropsch process that allows the dedicated production of olefins for the company's production Verbund. The Fischer-Tropsch synthesis is used for industrial-scale conversion of ...

Oil project cost rises may hurt world output-Iran

TEHRAN - Rising costs for oil projects may threaten new investment in producing countries, Iran's oil minister said in remarks published on Saturday. Gholamhossein Nozari also said volatility in oil prices, which have swung above and below $100 a barrel this month, was partly due ...

Canada PM oil sands plan puzzles industry, greens

CALGARY, Alberta - A campaign promise to ban exports of tar-like bitumen from Alberta's oil sands to countries that do not match Canadian efforts to cut greenhouse gas emissions could affect shipments to Asia, Prime Minister Stephen Harper said on Friday. Enbridge Inc, which ...

EPCA '08: Unsettled outlook for Europe aromatics

LONDON--Falling downstream demand coupled with illiquid and volatile spot markets are expected to be the main topics of conversation for players in co-related benzene and styrene heading to the annual European Petrochemical Association (EPCA) meeting in Monaco this weekend. ...

Oct lifting naphtha witnesses heavy discounts in Asia

Owing to the Asian naphtha glut and a sluggish demand, the naphtha market witnessed heavy discounts for October lifting cargoes. After a heavy discount by Lotte Daesan on its purchase of 50,000 tons of H1 November arrival naphtha, Kuwait's KPC sold 50,000-75,000 tons of naphtha ...

Full oil output at Indonesia's Cepu may be delayed

JAKARTA - Full-scale production at Indonesia's biggest oil find in a decade, the Cepu block, could be delayed by a year if Jakarta and ExxonMobil fail to resolve differences over storage facilities, an official of the oil major said on Friday. The giant Cepu oil block, jointly ...

Weaker crude favors oil majors over E&P, services

LONDON - As crude prices weaken, big integrated oil companies like Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz) look better equipped to deliver for investors than recent star performers in the exploration and drilling services sectors. The drop in oil prices from ...

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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