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Breaking up is hard to do, but a sure money maker

As the shipbuilding industry struggles to recover from the global recession, China's ship scrapping business has become a smorgasbord for both factories and investors. "This is really unparalleled, definitely (like striking gold)" said Hao Liang, office director of Changjiang ...

China: China produces 6.43-mil mt of gasoline in Aug, with output ratio hitting year high: NBS

p>China's output of gasoline reached 6.43-mil mt in August, with output ratio hitting 18.51%, the highest level of this year, according to data released by the National Bureau of Statistics. Two state-owned oil refiners Sinopec and PetroChina continued boosting gasoline output in ...

China's Sep LPG imports estimated to rise 33.2% on month to 337,000mt

p>China is estimated to import 337,000mt of LPG in September, up 33.2% from the previous month,a estimation showed. The rise could be mainly attributable to stock replenishments for winter and likely good import margins, according to a South China-based importer. About 88,000mt ...

China's Aug crude output rises 1.18% on month to 17.43-mil mt: NBS

p>China produced 17.43-mil mt of crude in August, slightly up 1.18% from the previous month, up 6.52% compared to a year earlier, according to data released by the National Bureau of Statistic. Daily yield was 4.1-mil bbl in the month, inching up 1% on month, the data showed. The ...

Asia: Mitsu Chemicals Restarted its Napatha Cracking Plant in Chiba, Japan on Sept 6th

p>Mitsu Chemicals napatha cracking plant in Chiba, Japan resumed production on Sept 6th and operated at full load as yet. The plant which had ethylene output of 600kt/y and propylene output of 331kt/y shut down for mechanical failure on August 26th and was planned to restart on ...

Americas: Huntsman to Issue Senior Subordinated Notes

p>Huntsman Corp. said Monday it plans a private offer of up to $350 million in senior subordinated notes due 2021 through its subsidiary, Huntsman International LLC. Huntsman plans to use the net proceeds to repurchase or redeem certain other outstanding senior subordinated notes...

Americas: Dow Automotive Systems Expands Commercial Vehicle Product Portfolio with Two Versatile Adhesive/Seam Sealers

p>In a strong signal of its ongoing commitment to the North American commercial vehicle manufacturing market, Dow Automotive Systems announced the introduction of two versatile adhesive/seam sealer products today. BETAFILL 55 adhesive/seam sealer combines the benefits of an ...

Sinopec Says Net Profit up 11.5 pct in First Nine Months

The China Petroleum & Chemical Corporation (Sinopec), the country's largest oil refiner, said Thursday its net profit hit 56.4 billion yuan (8.4 billion U.S. dollars) during the first three quarters this year, up 11.5 percent year on year. Earnings per share stood at 0.651 yuan ...

Middle East: Sabic may seek to make chemicals buyouts paper

p>SAUDI SABIC: The Saudi is company also eyeing areas like nylon, polyurethane and synthetic rubber, Handelsblatt said.(Getty Images)Saudi Basic Industries Corp is interested in partnerships and acquisitions as well as entering business areas like nylon, polyurethane and ...

Steelmakers rattled by price shift

The shifting of a 40-year-old system of setting annual iron ore prices to a short-term pricing mechanism may shake up the Chinese steel industry by creating an even playing field for all steel mills - large and small - in terms of raw material costs. BHP Billiton said on Tuesday ...

Oil edges up on economic recovery hopes

Global oil prices remained marginally up in early Asian trade Tuesday as the markets await couple of key US data s. Light sweet crude for October delivery was seen trading at $77.21 a barrel at 11.30 a.m while Brent crude for delivery in October was at $77.20 a barrel in London. ...

Rio employees receive 'tough' jail sentences

Four employees of British-Australian mining giant Rio Tinto were sentenced on Monday to jail terms ranging from seven to 14 years for taking bribes and stealing commercial secrets - a verdict the Australian government described as "very tough". The Shanghai No 1 Intermediate ...

Americas: US over-the-counter coal prices float higher in light volume

p>US over-the-counter coal prices continued to find support on Monday, mirroring gains seen in natural gas while trading in thin volumes. Continuing a price rally begun on Friday's session, Q1 2011 NYMEX look-alike traded at $62.50/st Monday, 40 cents higher than the prior Platts ...

Asia: Australia coal exporters agree to voluntary cuts at Newcastle

p>Newcastle coal exporters such as BHP Billiton, Noble, Rio Tinto unit Coal & Allied and Xstrata have agreed to voluntary cuts to their export allocations during September in an effort to alleviate vessel congestion at the eastern Australian port. The operator of two coal ...

Asia: Kazakhstan may delay start of gas line to feed Kazakh-China pipe

p>The start of construction on the Beineu-Bozoi gas pipeline, which will ultimately link up with the Kazakhstan-China pipeline to deliver gas from the Caspian region to China, could be delayed from the fourth quarter of 2010 until 2011, a spokesman from Kazakhstan's oil and gas ...

UK GAS: Uncertainty over fundamentals drives prices higher

p>Uncertainty over supply and demand fundamentals in coming weeks has continued to drive UK gas prices higher Tuesday with inconsistent system length and fluctuating Langeled flows causing system pressure, all despite demand holding 11% below the seasonal average. Day-ahead gas ...

Americas: Brazil offshore Libra find holds 8 million boe: ministry

p>Brazil's offshore Libra discovery holds about 8 billion barrels of recoverable oil equivalent, making it the largest find ever in Brazil, the energy ministry's No. 2 official said Monday. Development rights to the Santos Basin find, discovered earlier this year by Brazil's ANP ...

Sagging profits drive steel sector reforms

China's steel industry is operating on a profit margin lower than all other industries, touching 3.5 percent, pushing the industry to reform its structure, a senior official said on Sunday. "The industrial average profit ratio stood at 6 percent, while the steel industry is ...

Asia: Thailand eyes 50% cut in LPG imports with sixth gas separation plant

p>Thailand's LPG imports will be reduced by around 50% -- currently estimated at about 120,000 mt/month -- as the state owned oil and gas company PTT's sixth gas separation plant reaches peak capacity, a senior company official said Tuesday. "I reckon it should be about 50% ... ...

Europe: Lukoil sees tax benefits for its Caspian field in place from 2011

p>Russia's second largest oil producer Lukoil expects tax benefits for its new Yuri Korchagin oil field in the Caspian Sea to be in place from next year as the country sets out to encourage oil output from the infrastructure-deficient region, a company spokesman said Tuesday. "We ...

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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