industry

Crude futures traded around intra-day highs in morning European trading, maintining end of year momentum that saw prices hit 27 month highs, although volumes still remain thin as market participants return following the holiday season. At 10:05 GMT, February NYMEX WTI traded 47 ...
China set fuel oil import quota under non-state-operated category at 16.20-mil mt for 2011, up 15% from 2010, according to a notice from the Ministry of Commerce (MOFCOM) of the PRC. Of the total, 10.35-mil mt of quota has been granted to 119 enterprises, four more than in 2010, ...
The modified version of fuel oil futures specification of the Shanghai Futures Exchange has been approved by the government. The China Securities Regulatory Commission agreed the implementation of Fuel Oil Specification Contact of Shanghai Futures Exchange, according to an ...
PetroChina Dushanzi Petrochemical plans to refine 840,000mt of crude in January, 17% higher than the previous month, a refinery source told C1. The refinery would operate at full capacity during 2011 except July and August, because it would go into 45-day maintenance from July, ...
A new 625 mile long China-Russia pipeline began full operation during the weekend, shipping oil from Russia's Far East to energy hungry China. Current plans call for the pipeline to transport 15 million tonnes, or about 106 million barrels, of Russian crude annually to north...
China's crude apparent consumption in the first eleven months of 2010 amounted to 401.21-mil mt, up 14.08% from a year earlier, according to data released by the National Bureau of Statistics. The nation accumulatively import 218.45-mil mt of crude in the period, sharply up 19.68...
The Sino-Kazakhstan oil pipeline has delivered 10 million tons of crude oil last year, marking the first time to meet its designated capacity since it put into operation. According to China National Petroleum Corp, China's largest oil and gas producer and supplier, the capacity ...
Southeast Asia's leading bio fuel producer and user, Thailand said alternative fuel development is gathering pace in the country as global oil prices are still rising and the country is committed to energy saving and fossil fuel consumption reduction. According to director...
The startup of ExxonMobil's second petrochemical project on Singapore's Jurong Island could be delayed to 2012, a source familiar with the matter said Tuesday. ExxonMobil began the project on November 6, 2007 and expected to start it up in 2011. The company was experiencing ...
South Korea has decided to invest 8 trillion won in natural gas production plants and supply lines by 2024. South Korean ministry of Knowledge Economy said that total natural gas consumption is estimated to grow 1.8 per cent per year on average until 2024 to 34 million tonnes. ...
US monthly production of fuel ethanol reached an all-time high in October, figures released Thursday by the US Energy Information Administration show. In October, US producers manufactureed 27,410,000 barrels of fuel ethanol, up from 26,061,000 in September. The previous record ...
Oil prices may have started knocking on the $100 a barrel mark since the first trading day of this year but its highly unlikely that it will hit heights achieved three years ago, according to analysts. Even the most bullish analysts are quick to recite a litany of reasons why oil ...
The 2010 Northwest European paraxylene market ended the year balanced as spot market activity virtually ground to a halt, traders and producers said. "There hasn't been any product, there's no spot, which is different to years gone by," one source said. A second trader agreed ...
Australian coalseam and shale gas explorer Icon Energy has unveiled a restructuring of its Chinese joint venture partner in its ambitious plan to begin supplying 2 million mt/year of LNG to the energy-hungry Asian economy. Icon took the Australian market by surprise in April 2010 ...
ONGC and GAIL on January 1st reached a landmark understanding for mutual business growth covering natural gas as well as petro-chemicals. This over-arching understanding was documented in the form of various agreements and exchange of letters, which were initialled in the office ...
In the Continental European gas markets, the weather continued to be the main driver of prompt prices over Tuesday morning, traders said. Revised temperature forecasts caused prices on prompt contracts to drop from the stronger levels heard on Friday to trade significantly lower ...
Central Appalachian coal prices surged higher Monday, with traders buying CAPP barge (OTC) and CAPP rail (CSX) 2011 products, reflecting economic enthusiasm seen across the commodities complex, and the potential for further global supply disruption in key exporting regions. US ...
The third Shaanxi-Beijing gas pipeline in northern China started work on Friday to increase supply to to northern China by 20 million cubic meters/day of gas, the pipeline's owner and operator, China's largest oil and gas supplier China National Petroleum Corp. said on Tuesday. ...
The National Petrochemical & Refiners Association said Monday it has launched a legal challenge to the US Environmental Protection Agency's decision to allow higher levels of ethanol in conventional vehicles. The move is the third such legal challenge in the past few months. NPRA...
UK-listed Desire Petroleum saw its shares drop by over 25% in value early Tuesday after the Falklands explorer announced it failed to find oil with its latest exploration well off the South Atlantic islands. In a statement, Desire said well 25/5-1 on the Dawn/Jacinta prospect ...
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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 ...
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
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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 ...
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
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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 ...