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Americas: US utilities cautious on coal; stockpiles falling: consultant

p>US utilities at this time are "more hesitant than ever to burn coal," Wood Mackenzie coal consultant Ben Hewson said Wednesday at the American Coal Council's Coal Market Strategies conference in Tucson, Arizona. Following recent announcements of retirements and facility idling ...

China: PetroChina Jinxi Petchem hikes Oct crude throughput target by 122% with turnaround complete

p>PetroChina Jinxi Petrochemical arranged to refine 400,000mt of crude oil in October, soaring 122% from one month ago, a refinery source said. The refinery finished maintenances on several units end September and was expected to boost operation rate to a normal level of about 70...

Tough times ahead for China steel companies

Chinese steel mills are facing a precarious situation in the third quarter due to falling product prices and rising raw material costs, forcing many of them to scale back output or opt for maintenance shutdowns, leading industry experts said on Monday. The nation's largest ...

Oceania:Australia to develop its first commercial smart grid

Australia will develop its first commercial scale-smart grid in partnership with the energy sector and has committed $100 mn funding for the project. "The Smart Grid, Smart City demonstration project is an important step toward improving our energy efficiency and revolutionising ...

Americas: CME's physical gas futures product delayed until 2011: Pivotal

p>An executive with the company that owns the first physical location that CME Group plans to offer in a new natural gas physical futures product said that ongoing negotiations between the two parties will delay the product launch to early 2011 from the planned third quarter of ...

Europe: South Stream or Nabucco? The market will decide: South Stream CEO

p>The market will decide whether South Stream or Nabucco succeed, the chief executive officer of South Stream said Friday. "But one has to remember that the market is quite sharp and selective. We know that we have a good project, others should do what they think is right," said ...

Americas: New York Harbor gasolines mostly lower, despite bullish EIA data

p>Prices for gasolines trading in the New York Harbor market ended Thursday lower, despite a bullish stock report from the US Energy Information Administration, sources said. During the Platts Market On Close assessment process, Vitol dropped its price for a 25,000 barrel barge ...

China steel makers gain profit, but immediate outlook bleak

China's 77 large and medium-sized steel makers scored a profit of 33.9 billion yuan (US$4.97 billion) in the first four months, compared with a 4.1 billion yuan loss during the same period last year. Luo Bingsheng, vice chairman of the China Iron and Steel Association (CISA), ...

Europe: Buyers eye storage on weak North Sea differentials: traders

p>European refiners are looking at the possibility of taking advantage of weak crude differentials by buying oil to store while the whole French refinery network is shut down by strike action, sources said Friday. A wave of strikes started in France Tuesday over pension reforms. ...

China: China estimated to trim Oct fuel oil imports by 3%

p>China is estimated to import about 1.60-mil mt of fuel oil in October, down 3% or 50,000mt from the estimate for September, a shipping schedule shows. This volume will be sharply up 22% from a year earlier. Due to abundant supply of marine crude, Shandong's imports of straight...

MOFCOM denies plans to cut steel export rebates

China has no plans to reduce export tax rebates on steel products, Shanghai Securities News reported on May 26, contradicting recent reports. A source from Hebei Iron and Steel Group had claimed the Ministry of Commerce (MOFCOM) was considering canceling the 9 percent export tax ...

China: Shandong independents' oil product inventories drop over brisk sales

p>Shandong-based independent refineries' combined stockpiles of gasoil and gasoline declined modestly in the first half of October as their sales remained brisk amid tight supply. The 12 refineries surveyed held about 169,500mt of gasoil and gasoline inventories in combination on ...

China: LPG supply from major refineries in E. China up 7.5% in H1 Oct

p>Six major refineries in East China produced a combined 6,450mt per day of LPG commodity in the first half of October, up 7.5% from two weeks ago, a survey showed. In the half month, Ji'nan Refinery saw LPG commodity output increased 8.3% to 630mt per day; Yangzi Petrochemical ...

Steel firms nervous over talk of rebate cut

Chinese steel producers are worried over a possible export rebate cut by the Chinese authorities amid growing export risks imposed by trade remedy measures from the United States and the European Union. Wu Genping, the official of the General Administration of Customs, said the ...

China: PetroChina Dalian Petchem's 2010 crude oil consumption may reach 17.5-mil mt

p>PetroChina Dalian Petrochemical is expected to consume 17.5-mil mt of crude oil in the whole year of 2010, according to a source with headquarters of PetroChina. The refinery refined 13.1-mil mt of crude oil during the first nine months, accounting for 76% of the target for the ...

China studying cut in steel export tax rebates

The Ministry of Commerce is studying a cut in tax rebates for steel products in a bid to curb exports and streamline steel production, according to sources close to the issue. The changes would scrape a 9 percent tax rebate for hot rolled coils, and reduce tax rebates for cold ...

China: S. China's Oct fuel oil imports estimated to rise 30% on month to 300,000-350,000mt

p>South China is estimated to import 300,000-350,000mt of fuel oil in October, up 30% from a estimation for September imports, up 7% compared to a year earlier, it is forecast. The region again imported straight-run fuel oil after one-month halt, which explained the on-month ...

Americas: US Oct. PTA contracts up 3.15 cents/lb at 48.16 cents/lb on PX

p>The US PTA formula derived contract price for October was at 48.16 cents/lb ($1,062/mt), up 3.15 cents/lb from September, according to a PET producer. The US PTA contract is an industry secret formula with paraxylene as the main variable. As each pound of PTA requires 0.67 ...

Asia: Kuwait Paraxylene denies aromatics force majeure; says runs at 100%

p>The Kuwait Paraxylene Production Company Friday refuted talk that it has declared force majeure on its benzene and paraxylene supplies to customers on production issues. According to the company's marketing manager Qamal Berbehani, operations were normal and rates at KPPC's ...

Middle East:Iraq, Shell finalizing $12 bn natural gas deal

The Iraqi Oil Ministry says it's near to finalizing a $12 billion natural gas contract with Royal Dutch Shell as Baghdad prepares to auction three major gas fields in its accelerating drive to become one of the world's top energy producers. Oil Minister Hussein al-Shahristani ...

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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 ...

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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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