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Brave faces, deep fears at Asia oil trader soirees

SINGAPORE - For the past five years, the annual get-together of Asia's oil trading professionals has been a celebratory affair, marked by steadily rising oil prices, expanding trading volumes and swelling bonuses. This year, any merry-making will mask gloom for an industry ...

Duke innovations improve accuracy of MRI as internal 'thermometer'

Duke University chemists say they have developed a new way to measure temperature changes inside the body with unprecedented precision by correcting a subtle error in the original theory underlying Magnetic Resonance Imaging (MRI). "We can get five to 10 times better accuracy in ...

Iraq spared worst of credit crisis, exposed to oil drop

BAGHDAD - By any measure, Iraq has had a terrible time since 2003. Yet when it comes to the global financial crisis, Iraq may for once be in a privileged position. Tens of thousands of Iraqis have died in five years of rampant bloodshed. Much of the country's public works and ...

Asian PU raw materials fall $600/t on market woes

p> SINGAPORE--Polyurethane (PU) raw materials such as toluene di-isocyanate (TDI), methyl di-phenyl isocyanate (MDI) and polyether polyols crashed by up to $600/tonne due to suppliers' attempts to liquidate mounting stock levels, buyers and sellers said on Thursday. The market ...

Nigeria says would be comfortable with oil at $80

ABUJA - Nigerian Oil Minister Odein Ajumogobia said on Wednesday the country, an OPEC member, would be comfortable with oil at $80 a barrel but that it did not want to cut its own production to defend that price level. The Organization of the Petroleum Exporting Countries has ...

Oil rises above $67 after sharp fall; eyes on OPEC

PERTH - Oil bounced back on Thursday to hover above $67 a barrel, recouping some of the previous session's 7.5 percent loss, as investors shifted their focus to a likely OPEC agreement on Friday to cut output. Iranian Oil Minister Gholamhossein Nozari said on Thursday that OPEC ...

Oil companies take steady, careful approach to '09

SAN FRANCISCO - Energy companies put on a brave face in response to rapidly deteriorating pricing on Wednesday, keeping 2009 spending plans largely steady, even as crude oil prices tumbled to a 16-month low. Executives plan to wait for cues from clients before altering capital ...

Phenomenex Recognized by The Wall Street Journal as Exceptional Workplace

The Wall Street Journal announced this week that Phenomenex Inc. is among the 15 best small workplaces in the U.S. Phenomenex was selected from among 782 nominees by a national panel of small business experts chosen by The Wall Street Journal and the nonprofit Winning Workplaces. ...

Mexico's state-owned co. sees YOY petrochemical output rise for Sep

Mexico's state-owned petroleum company, Pemex's September production of petrochemicals touched 1.014 mln metric tons of petrochemicals witnessing an YOY increase of 8.1%. Amongst the petrochemicals which saw a YOY increase include ethylene, ethylene-oxide, propylene, toluene and ...

Mitsui Oil Asia staff charged in Singapore

SINGAPORE- Three former employees of Mitsui & Co's now-shut Singapore oil trading arm were charged in Singapore on Tuesday, their lawyers said. Mitsui & Co, Japan's second-biggest trading house, shut Mitsui Oil Asia (MOA) after the Singapore office raked up $81 million in naphtha ...

OPEC says action needed to avoid huge oil glut

MOSCOW - The world faces a huge oversupply of oil next year should production continue at current rates, OPEC's secretary general said on Tuesday, as his organization prepares for an emergency meeting to discuss output cuts. Abdullah al-Badri, arriving on a two-day visit to ...

Oil falls below $64 as economy outweighs OPEC

PERTH - Oil fell to a 17-month low on Monday, extending the previous session's $4 loss, as an emergency production cut by OPEC was shrugged off by traders anxious about the onset of a deep global recession. On Friday, OPEC reached swift agreement to chop production by 1.5 million ...

Iraqi parliament committee fails to back oil law

BAGHDAD - Iraq's long-awaited hydrocarbons law failed to win the backing of parliament's Oil and Gas Committee on Sunday, with Kurdish members insisting the bill has not been properly approved by the cabinet, lawmakers said. The hydrocarbons law would create a framework for ...

Canada oil sands plans get revamped as oil falls

CALGARY, Alberta - Companies developing Canada's oil sands, one of the world's largest deposits of crude oil, said on Thursday they aim to cut spending on multibillion-dollar projects in response to tumbling oil prices and the financial meltdown. Petro-Canada, operator of the ...

The Linde Group expands gases supply in Ningbo (China)

The Linde Group has entered into two new contracts for the on-site supply of gases to the companies Ningbo Iron & Steel Co. Ltd and Hanwha Chemical Corporation (HCC) in Ningbo in eastern China. Under the agreements, Linde will build an additional air separation plant at the ...

Russia says swing oil producer plan is long-term

MOSCOW - Russia should play a bigger role in influencing global oil prices but it will take some time before the country can become a swing producer, Russian Energy Minister Sergei Shmatko said on Thursday. Shmatko was speaking a day after OPEC called on Russia and other non...

Electric vehicles may not drive clean energy

Not long ago, the 25th World Electric Vehicle Symposium and Exposition was held in Shenzhen. This event has sparked renewed interest in China in clean energy vehicles. It is good that the industry is extremely enthusiastic about electric vehicles, but a series of recent phenomena ...

OPEC members divided over oil output cut

VIENNA -- Members of the Organization of the Petroleum Exporting Countries (OPEC) were divided over oil output cut on Thursday, one day ahead of an OPEC "extraordinary meeting," to be held in Vienna to address oil price on Friday. Iran, Libya and Venezuela urged the 13-member ...

Iran calls for drastic cut in OPEC daily output

VIENNA -- The Organization of Petroleum Exporting Countries (OPEC) should slash daily production by 2 million barrels due to the continuing decline in oil prices, Iranian Oil Minister Gholam Hossein Nozari said here Thursday. A cut of "2 million (barrels per day) will stabilize" ...

Oil sheds gains, below $67 on recession fears

PERTH - Oil shed early gains on Friday and fell nearly $1 to below $67 a barrel, near the previous day's 16-month low, as investors shrugged off a likely OPEC production cut to focus on signs of a prolonged global recession. Asian stocks fell on Friday, led by around 10 percent ...

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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