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Europe:OPEC keeps oil output quota

As expected, the OPEC decided to leave production quotas unchanged stressing looming risks to the fragile global economic recovery. In a statement issued here after the summit, the 12-nation Organization of the Petroleum Exporting Countries said that the economic growth that had ...

Asia:Oil recovers as cold snap hits US, Europe

Global oil prices rebounded above $88 a barrel in Asian trade Monday mainly on speculation that energy demand may climb as cold wave hits Europe and US Midwest. Light sweet crude for January delivery was seen trading at $88.10 a barrel at 12.00 noon siangapore time while Brent ...

BASF completes 3.1bn acquisition of Cognis

LONDON-BASF has successfully completed its 3.1bn ( 4.1bn) acquisition of specialty chemicals producer Cognis, the German chemicals major said on Friday. The equity purchase price was 700m, including net financial debt and pension obligations. BASF said it intended to fully ...

Asia: Sumitomo Planning Solution-SBR Plant To Meet Asia's Rapid Growth Demand

Sumitomo Chemical said it has decided to construct a new 40,000-t/y solution styrene butadiene rubber (S-SBR) facility at Jurong Island, Singapore. The project, being built to meet the "rapid demand growth" in Asia, is expected to start commercial operations in the fourth quarter ...

Asia: Will China's PVC market turn downwards in January?

Following six consecutive months of increasing prices, players in China's PVC market report that the outlook for January is looking weak in spite of the recent upsurge in upstream costs. With players in China predicting another interest rate increase from the Central Bank as well ...

Americas: BASF, Stepan, Koppers to expand US PA margins 3 cts/lb in January

BASF issued a 3-cent/lb phthalic anhydride price increase for January 1, while Stepan and Koppers announced the same increase for January 15 implementation or as contracts allow, sources from the respective companies said Thursday. "PA plants are maintenance intensive," the BASF ...

Europe: High gas prices in Europe stalls ethylene capacity growth in Russia

The high prices that Europe is willing to pay for Russian gas has impeded the development of gas-based ethylene crackers in Russia, the President of Siberian Ural Petrochemical Company (Sibur) -- Russia's state-run petrochemicals company -- Dmitry Konov, told Platts Thursday. "In ...

Europe: Germany's BASF completes acquisition of Cognis Holdings

Germany chemical giant BASF said Friday it had completed the acquisition of German specialty chemicals company Cognis for an enterprise value of Eur3.1 billion ($4.1 billion). It said in a statement it would fully integrate Cognis by the end of next year. "Cognis will make an ...

Europe: Current oil prices not hurting world economy: OPEC's Badri

Current oil prices are not hurting the world economy, and are not as high as they seem for most countries because of the weakness of the US dollar, OPEC secretary-general Abdalla el-Badri said Saturday. "This price we see at this time does not damage world growth," Badri told a ...

China: Yingkou Jiafu Petchem may sell refining and storage facilities

Yingkou Jiafu Petrochemical Co Ltd, an independent refinery based in Northeast China's Liaoning Province, was in talking with potential buyers for selling its oil refining facilities and oil tanks, a refinery source revealed, without elaborating further. This selling might ...

China: Sichuan Shengma Chemical to start constructing 1.2-mil-mt/yr coker in 2011

Sichuan Shengma Chemical Co Ltd planned to kick off construction of a 1.2-mil-mt/yr coker in 2011, a company source said. The project was expected to complete in 2012, or in the end of 2011 at the earliest, he said. Then the company would weed out an old 300,000mt/yr coker which ...

China: Sinopec Shandong to sell 900,000mt of oil products in Dec, flat on month

Sinopec Shandong is scheduled to sell a combined 900,000mt of oil products in December, unchanged with the previous month, a company source said. Gasoline sales target is 305,000mt, up 3.39% on month; that of gasoil is 595,000mt, down 1.65%, the source revealed. About 72.22% of ...

China: CNOOC Yingkou refinery in Liaoning postpones plan to start operation

CNOOC Yingkou refinery in Northeast China's Liaoning Province has postponed its previous plan to kick off operation on Nov 25, and the refinery has not fixed any specific date to come on line, according to a source with CNOOC. "The postponement was mainly because of some issues ...

Asia: Solutia Continues to Grow Solar Presence in China

Solutia Inc. (NYSE: SOA) today announced plans to expand current operations to include additional production lines supporting Vistasolar ethylene vinyl acetate (EVA) encapsulant at its Suzhou, China facility by late 2011. This capacity expansion follows an earlier announcement by ...

Middle East:Iraq eyes 10.5mn bpd by 2017

Iraq is concentrating its drive to quadruple its oil output on its six "super fields," which analysts say have the potential to produce in excess of 10.5 million barrels a day by 2017. That's just short of the Oil Ministry's declared target of up to 12 million bpd in the next six ...

Europe:Gazprom to help Belgium with nat gas storage

Russia is reaching out to partners in Belgium to help usher in a new era in bilateral gas relations, a top official at energy monopoly Gazprom said in Brussels. Alexander Medvedev, Gazprom's chief executive officer, signed a memorandum of understanding for underground natural gas ...

Europe:WB plans $165 mln for Russia renewable energy sector

As part of its renewabl energy boosting plan, the World Bank announced the start of $165 million greenfield program of consulting and investment in Russian renewable energy sector. The Russian Renewable Energy Program, an experimental program by the World Bank's International ...

Austria's Lenzing builds fibre plant as part of 285m expansion

SINGAPORE-Lenzing is building a 60,000 tonne/year high-grade specialty fibre plant in Austria as part of a 285m ($375m) expansion programme to boost its overall production capacity to 1m tonnes by 2014, the Austria-based firm said on Monday. The 130m plant, which will produce the ...

Asia: JAPAN'S KEIYO ETHYLENE SHUTS CHIBA STEAM CRACKER MONDAY ON GLITCH

Japan's Keiyo Ethylene shut its naphtha-fed steam cracker at Chiba in the east on Monday due to an unidentified mechanical problem, a company source said. It is unclear when the company will be able to restart the steam cracker. "We are now investigating the cause of the problem,...

Europe: N Sea butane stem sold to petchems on weak gasoline sector demand

A delivered cargo of North Sea mixed butane has been sold into a petrochemical outlet due to weak demand from the gasoline sector, according to industry sources. Norwegian major Statoil confirmed concluding the deal at the very end of last week for a 10,000 mt cargo for delivery ...

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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