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Americas: Chevron says to soon seek new deepwater US Gulf drilling permit

p>Chevron is poised to submit an application for a permit to drill again in the deepwater Gulf of Mexico "in the next several days," a spokesman said Thursday. The drilling could rank as the first attempt for a deepwater drilling permit since the US government lifted its ...

OPEC Ups Global Oil Demand Forecast

Related: Crude Prices Plunge on Demand Concerns The Organization of Petroleum Exporting Countries (OPEC) on Friday raised its forecast for global oil-demand growth for both 2010 and 2011, driven by bullish sentiment about the global economic outlook. World oil demand growth in ...

Asia: PetroVietnam claims pre-emptive rights on BP's Vietnam assets

p>Vietnam's state-owned oil and gas company PetroVietnam may contest part of the sale of oil major BP's Vietnam assets to Anglo-Russian oil venture TNK-BP, it said early this week, claiming that its partnership in two of the projects give it pre-emptive rights on portions of the ...

Europe: Statoil to launch new Barents Sea drilling after spill tests

p>Norway's Statoil is ready to launch a new round of exploration drilling in the environmentally sensitive Barents Sea after successfully testing its oil spill response plans, the company said Friday. Statoil said it recently completed extensive oil spill response drills on ...

China finds more gold reserves in Inner Mongolia

China Gold International Resources Corp Ltd (CGIR), a subsidiary of China National Gold Group Corp, the country's biggest gold producer by output, said on Thursday it has discovered an ore sample indicating vast gold reverses at its mine in the Inner Mongolia autonomous region. ...

China: Negative fuel oil import margins in S. China lessen tad on stronger local prices

p>Negative import margins of fuel oil for South China-based importers lessened slightly as increase in local spot fuel oil prices overtook Singapore, a survey found. The margin was minus Yuan 473/mt on average on paper Friday, versus minus Yuan 527/mt two weeks ago, it is ...

China: S. China suspends bunker refueling due to typhoon

Due to typhoon Megi that is forecast to make a landfall between Guangdong and Fujian on Oct 23, ports in South China all suspended bunker refueling on Oct 22 and ships were taking shelter in ports, learned from bunker suppliers. Bunker trading has plunged in South China in the ...

Steel mills to be closed

China plans to lower the number of steel plants from 800 to 200, through mergers and acquisitions as well as shutting down of some substandard mills, an official from the Ministry of Industry and Information Technology (MIIT) said Tuesday. The move aims to promote restructuring, ...

China: Huabei Petchem slashes LPG output by 27% due to unit glitch

p>Due to glitch with a 1.5-mil-mt/yr catalytic unit, PetroChina Huabei Petrochemical slashed its daily LPG output to about 800mt on Oct 22, down 27% from roughly 1,100mt on the previous day, according to market sources. The refinery had started maintenance and it was likely to ...

Chinese PMI at three-month low

The Chinese purchasing managers' index (PMI), which tracks manufacturing growth, fell in December to the weakest level in three months. The decline came after the central government decided to stabilize commodity prices and tighten monetary policy. PMI decreased to 54.4 from 55.3 ...

China: China's daily crude throughput in Sep rebounds 3.6% to second high of 2010: NBS

p>China refined 34.91-mil mt of crude in September, with daily throughput up 3.6% from August, hitting the second high of this year, according to data released by the National Bureau of Statistics. The September consumption was up 180,000mt or 0.52% on month, up 6.65% from the ...

Phones leaking personal details

Beware smartphone fans. Each time you turn on your favorite phone applications to play games or deal with business, a "Big Brother" is probably watching, learning about your buying habits or lifestyle so the information can be sold to marketing companies. An investigation by the ...

China: Shandong Haihua Group resumes 500,000-mt/yr coker operation on Oct 15

Shandong Haihua Group Co Ltd brought its 500,000-mt/yr coker on line on Oct 15, revealed a company source, saying that petcoke output could be expected at the beginning of next week at the latest. According to the previous schedule, the refinery had planned to restart the coker ...

China: Shandong independents cut petcoke production due to power rationing

As most regional governments rationed power supplies to electricity over-consuming industries to meet their energy-conservation goals set in the Eleventh Five-Year Plan (2006-2010), some Shandong independent refineries were forced to shut delayed cokers, the energy-intensive ...

SOEs asked to pay more for social net

Central government-administered enterprises have to pay more in dividends from 2011 as the government boosts funding of social services, the Ministry of Finance said yesterday. State-owned tobacco, petroleum, petrochemical, power, telecommunications and coal companies will have ...

Middle East:Microbes consuming oil spill more than estimated

Microbes in the Gulf of Mexico may be consuming more of the gases spewed from the Deepwater Horizon oil spill than previously thought, researchers say. Research carried out before the oil rig exploded and gushed more than 200 million gallons of crude into the gulf measured the ...

Americas:USA plans to promote renewable jet fuel

The Obama administration is supporting projects that would promote renewable jet fuels that in turn will reduce US import of crude oil and also help combat global warming. Now the US Department of Agriculture (USDA) and the Federal Aviation Administration (FAA) have agreed to ...

Severe overcapacity in stainless steel industry

China's stainless steel industry is facing severe overcapacity due to sluggish demand and lack of high-end product manufacturers, the China Business Daily reported Monday. China's stainless steel industry boasts an annual capacity of 15 million tons, but the actual output is less ...

China non-ferrous metals trade up 46.5 percent in first 11 months

China's non-ferrous metals imports and exports rose 46.5 percent year on year to 108.48 billion U.S. dollars in the first 11 months of the year, the Ministry of Industry and Information Technology (MIIT) said Thursday. Imports grew 40.6 percent year on year to 83.15 billion U.S. ...

Chinese company gets permission to build cement factory in Suva

Fiji's Minister for Lands and Mineral Resources Netani Sukanaivalu on Thursday formalized a 99- year lease agreement for a Chinese cement factory to be set up in Veisari Lami outside Suva. Sukanaivalu told local media that the Tengy Cement Company Limited was given consent by the ...

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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