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Oil falls further in Asian trade

World oil prices dropped further in Asian trade Wednesday mainly on weak regional stocks while a strong dollar also dent the black gold. Light sweet crude for October delivery was seen trading at $73.71 a barrel at 12.00 noon Singapore time while Brent crude was at $77.31 a ...

3 vessels working on same pipeline at Nord Stream

The simultaneous work of three vessels on the same leg of the Nord Stream pipeline in the Baltic Sea is rare for the industry, the project consortium said. Russian gas company Gazprom leads an international consortium building the dual Nord Stream natural gas pipeline through the ...

Asia: China's Sinopec cancels Sep turnaround plans for solvents plants

p>China's Sinopec has indefinitely canceled turnaround plans for its solvents plants at Yanshan and Tianjin in September due to strong local demand and prices, industry sources said Tuesday. Sinopec Beijing Yanshan had planned to shut the smaller of its two solvents production ...

Europe: Spot ARA propane prices rise on tight availability

p>Spot prices for propane in the Amsterdam-Rotterdam-Antwerp area have increased markedly due to limited availability, according to industry sources. The price for FCA propane, which is loaded on trucks and railcars, was assessed to be in the low $590's/mt at the beginning of the ...

Oil Rises on US Inventories, Q3 GDP

Crude prices on Wednesday rose for the fourth straight day and hit its 26-month high as U.S. weekly crude oil inventories dropped by 5.3 million barrels last week and GDP growth for the third quarter was revised higher to 2.6 percent. Light, sweet crude for February delivery rose ...

Americas: Peru hikes Camisea gas reserves for third time in 15 months

p>recoverable natural gas reserves from the blocks 88 and 56 in the giant Camisea field stand at 13.8 Tcf -- higher than two previous estimates released by the government in the last 15 months. In May, Peru's Ministry of Mines and Energy said the reserves in the two blocks were ...

Europe: BP says multiple companies to blame for Macondo spill

p>BP Wednesday blamed a "sequence of failures" by more than one company for the Macondo blowout in the Gulf of Mexico, but said rig-owner Transocean was to blame for a number of key failures which contributed to the disaster in which 11 workers died. In an internal accident ...

Asia: India's BPCL tenders to seek four 9,000-12,000-mt refrigerated LPG cargoes

India's state-run Bharat Petroleum issued a tender Wednesday to purchase four 9,000-12,000mt cargoes of refrigerated LPG for delivery to Vizag in Oct 1-6 and Oct 21-28 for the first two cargoes and to Mangalore in Oct 7-13 and Oct 14-20 for the latter two, traders said. Tender ...

China: Guangdong minor refineries plagued by worse refining losses

p>Refining margins for minor refineries in South China's Guangdong Province dropped in negative territory due to declines in high-sulfur fuel oil prices, a survey found. The margin was minus Yuan 152/mt on average in theory Wednesday, versus minus Yuan 128/mt one week ago and ...

China: PetroChina Qinzhou refinery puts off LPG shipment by barge

p>PetroChina Qinzhou refinery had to defer sale of the first LPG cargo by barge, a refinery source said. The refinery has not yet reached normal LPG production and it consumed most of its LPG not long after coming on stream, the source explained. It may not take a long time for ...

China: Sinopec Tianjin Petchem to keep crude oil throughput stable at 32,000mt/d in Sep

p>Sinopec Tianjin Petrochemical is scheduled to process 970,000mt of crude oil in September, with daily throughput flat with the previous month, a source with the refinery said. Tianjin Petrochemical stepped up crude runs after expanding annual topping capacity to 13-mil mt end ...

China: Chinese traders halt base oils importing on closed arbitrage window in Sep

p>Most domestic importers were faced with closed arbitrage window and halted base oils importing as international base oils prices kept going up. As most international refineries hiked base oils ex-refinery prices in September, import margins were squeezed to almost zero. Take ...

China: Base oils market not to recover until early-mid Oct

p>Domestic base oil market did not show strong rebounds in the traditional midseason. Expecting no bounce before early October, most market sources held bearish outlook of the September market and kept sidelined at present. Most importers withdrew from the market, waiting for the ...

Europe: PCC SE acquires Prodex System, a polyurethanes system house in Poland

p>With the acquisition of Prodex System Sp. z o.o. in Warsaw, PCC SE reinforces its activities in Central and Eastern Europe in countries such as Poland, the Czech Republic, the Ukraine, the Baltic states and the CIS countries. The business activities of Prodex System Sp. z o.o., ...

Americas: Stepan Announces Price Increases for October 1

p>Stepan Announces October 1, 2010 Flexible Polyol Price Increase for North America Northfield, IL, August 31, 2010 - Effective October 1, 2010, Stepan will increase prices for STEPANPOL Polyester Polyols for the Flexible Foam Industry in North America by $0.07 per pound. The ...

China: Sinopec cuts benzene prices in East, North China by 3-4% Wednesday

p>Sinopec has cut its domestic benzene prices in East and North China by 3-4% effective Wednesday, local industry sources said. In the eastern provinces, Sinopec Shanghai, Sinopec Zhenhai Refining & chemical, Sinopec Yangzi Petrochemical and Sinopec Jiujiang were offering ex...

Chevron gets oil drilling approval in China

Chevron Corporation has acquired rights to explore for oil on 8,100 square miles in the South China Sea's Pearl River mouth basin, the oil company said on September 7. Chevron won final approval to explore three blocks, acquiring 100 percent interest in two of them and just over ...

EU may drop biofuel plan as pressure mounts

The European Union is yet to make a decision on its biofuel policy to produce 10 per cent of all transport fuels from biofuels by 2020. Many environmentalist groups have urged the EU to drop their biofuels targets or else risk plunging more Africans into hunger and raising carbon ...

Americas: Brazilian PP and PE offers to Mercosur to go up $50/mt in H2 Sep

p>Brazilian polyethylene and polypropylene offers to Mercosur will likely increase $50/mt for H2 September, a source at Braskem said Tuesday. In the beginning of the month resin offers to the area went up $100-150/mt following the international market and firm demand. "The only ...

Europe: Russia's Sibur, Moscow Oil Refinery establish PP joint venture

p>Russia's largest petrochemicals producer, Sibur and the Moscow Oil Refinery have established a joint venture for the manufacture of polypropylene through the former's acquisition of a 50% share in NPP Neftekhimiya, a statement on the Sibur website said Wednesday. NPP Neftekhimi...

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china

Bill Gates talks nuclear
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China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
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Merck to put $1.5b in R&D
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IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
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China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
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Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

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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 ...

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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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