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UBS cuts 2009 U.S. oil price on slowing demand

NEW YORK - UBS cut its forecast for 2009 U.S. oil prices by $15 to $105 a barrel due to weaker fundamentals and financial outflows, UBS economist Jan Stuart said in a note released on Monday. "A sharp turn in fundamentals this summer, combined with several waves of financial ...

Oil rebounds above $90, focus on possible rate cuts

SINGAPORE - Oil rebounded more than $2 a barrel on Tuesday, recouping some of the previous session's $6 loss, after Australia's interest rate cut sparked guarded optimism global central banks may act to stem the credit crisis and its fallout on oil demand. Australia's central ...

OPEC members worried by oil price fall

BAGHDAD - OPEC members are worried by the drop in the price of oil to around $90 a barrel, Iraq's oil minister told Reuters in an interview on Monday. Hussain al-Shahristani said that the drop in oil prices to an eight-month low was due to the global economic crisis and not a ...

Kuwait's KPC plans $75 billion oil investments

KUWAIT - Kuwait Petroleum Corp (KPC), the Gulf Arab state's top state oil company, plans investments and projects worth 20 billion dinars ($74.85 billion) in the next five years, an official said in remarks published on Sunday. The investment figure is higher than an earlier ...

Attacks in Nigeria's oil delta

The Movement for the Emancipation of the Niger Delta (MEND) said on Sunday it had released around 19 Nigerian oil workers kidnapped last month but was still holding two Britons and a Ukrainian. More than 200 foreigners have been kidnapped since early 2006. Below is a chronology ...

Aegean says oil to hurt 2008 results

ATHENS- High fuel prices and a world credit crisis will affect Greek carrier Aegean Airlines's full-year results, its vice-president told a newspaper on Sunday. "The rise in oil prices will affect our profitability for the full year but will not affect our cash flows, so that we ...

Oil falls for fourth day on fears of deeper decline in oil demand

Falling for the fourth consecutive day, oil prices have dropped to US$91 a barrel, on concerns that efforts to restrain the spreading financial crisis will not be successful in avoiding a further decline in oil demand. US light crude for November delivery dipped to US$91.91 a ...

Informex Adds Process Engineering Component to Educational Program

Informex announced that Scientific Update, LLP, a provider of educational meetings to the organic chemical processing industry, will host the Networking Roundtables at InformexUSA inSan Francisco, California. Discussions will focus on the challenges of manufacturing organic ...

Spectral imager for detecting bruised fruit

The apricots on display in the supermarket look fresh when they have just arrived, but some will have developed bruises by the next day. Hyperspectral imaging allows these fruit to be identified in advance, but is expensive. Now there is a cheaper version of the technique. ...

Asian ethylene may break $1,000/tonne

SINGAPORE--Asian ethylene spot prices could break the psychological $1,000/tonne (cost and freight) CFR northeast (NE) Asia level not seen since June 2007 on the back of worsening demand conditions, traders and buyers said on Monday. The prospects of a market rebound after the ...

Chavez says U.S. can't fix financial crisis

PARIS - Venezuelan President Hugo Chavez took a fresh swipe at his arch foe the United States on Friday, saying Washington was unable to handle the financial crisis and wanted to use a worthless dollar to own the world. The leader of South America's biggest oil exporting country ...

Probe into oil spike unlikely to weigh on price

NEW YORK - A U.S. investigation into this week's record one-day spike in crude oil futures is unlikely to intimidate energy traders or weigh on prices in the long term. The U.S. Commodity Futures Trading Commission launched a probe into a $25 surge in front-month U.S. crude ...

Oil eases as bailout worries weigh

LONDON - Oil eased on Tuesday, after a record one-day rise in the previous session, depressed by doubts over a U.S. plan to rescue the financial sector. U.S. crude for November was 85 cents down at $108.52 a barrel by 1354 GMT (9:54 a.m. EDT), after rising nearly $7 on Monday. ...

Iran backs oil cut by at least 2 million bpd

TEHRAN -- Iranian Oil Minister Gholamhossein Nozari on Tuesday voiced the country's support for an oil production cut of the Organization of Petroleum Exporting Countries (OPEC) by at least 2 million barrels a day (bpd). Given 8 to 10 percent decrease in demand and the oil ...

Wacker to further Expand Polysilicon Production Capacity

Wacker Chemie AG plans to construct a new polysilicon production plant at its N nchritz site (Saxony, Germany) with a nominal annual capacity of 10,000 metric tons. The Munich-based chemical company announced this decision. The first batch of polysilicon from this "capacity ...

Q3 recession to hit US chem earnings

HOUSTON--The US economy fell into a recession during the third quarter, and the nation's chemical companies will likely report weaker earnings as a result, analysts said on Monday. "We believe hefty earnings cuts are required, consistent with synchronous global recessions," ...

Saudi Arabia Petrochemicals to witness massive increase in capacity in H2 2008

The Saudi petrochemical sector will witness a massive increase in capacity in H2 2008, securing the country's position as a global petrochemicals supplier, according to BMI's latest Saudi Arabia Petrochemicals Report. Jubail and Yanbu will be the focus of petrochemicals ...

Crisis to overshadow Canada oil company earnings

CALGARY, Alberta - The financial crisis and falling oil prices are likely to overshadow higher earnings for Canada's big oil companies, which are set to begin reporting their third-quarter results on Tuesday. The third quarter again featured stellar commodity prices, with oil and ...

Crude oil up on possible OPEC production cut

NEW YORK -- Crude oil went up on Monday as investors predicted that the OPEC will almost certainly decide to cut crude output at an emergent meeting later this week. Light, sweet crude for November delivery rose 2.40 U.S. dollars to settle at 74.25 dollars a barrel on the New ...

OPEC to cut production after weekly prices dip to record low

VIENNA -- After dropping for four straight weeks, the OPEC (Organization of Petroleum Exporting Countries) weekly average prices hit a historic low of 68.24 U.S. dollars per barrel (dpb) last week, the Vienna-based cartel said Monday. OPEC weekly average oil prices have seen ...

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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