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Asia: China wellhead gas prices seen rising 10%/year next 5 years:analyst

China's domestic natural gas prices will continue to rise 10% a year at the wellhead over the next five years, driven up by expensive imports and further reform of wellhead prices in the country as the government seeks to encourage local gas development over imports, according to ...

Middle East:Iran for more of Turkmenistan gas

Iran aims to receive more natural gas from Turkmenistan through a pipeline straddling their shared border, Iranian export officials said. Iran and Turkmenistan inaugurated the 75-mile second phase of a natural gas pipeline between the countries. The pipeline expands gas imports ...

Asia: Thailand's IRPC plans new 160,000 mt/year propylene unit by 2014

Thailand's IRPC plans to build a 160,000 mt/year propylene plant by 2014 to enable the company to increase its production of higher-value specialty products, CEO Pailin Chuchottaworn said Wednesday, adding it was subject to board approval. The location and the value of the ...

Europe: Rhodia details plan to achieve EBITDA of Eur1 bil in 3-5 years

French specialty chemicals company Rhodia has mapped out a detailed plan to support its ambition to achieve over Eur1 billion ($1.3 billion) in annual EBITDA, excluding carbon credits, within the next three to five years, according to a company statement Thursday. The target, ...

Americas: Over-the-counter coal prices maintain upward push into December

Over-the-counter coal prices rose across product class and geography on Wednesday, led by sizeable gains in the NYMEX look-alike market. Look-alike prices have pushed upwards throughout the week, trading as high as $72.25/st for front-month January contract Wednesday, $4.35/st ...

Americas: With North American shale discoveries ending, JVs could dry up: execs

The era of natural gas discoveries in North American shale formations has ended and the industry also is seeing the end of new unconventional oil plays, resulting in rapidly closing window of opportunity for potential joint ventures, company executives said Wednesday. "All the ...

Asia: China top 5 power firms book 50% losses on high coal prices: report

China's top five electricity generation companies have booked losses of up to 50% by end-October due to recent steep price hikes in thermal coal, local reports quoted an official from the China Electricity Council as saying Thursday. "The power companies are suffering heavy ...

Europe: EU liberalization policy endangers gas supply security: Yousfi

The European Union has opted for a policy of energy liberalization while leaving market forces to solve the problem of long-term supply security, Algerian Oil Minister Youcef Yousfi told a meeting of the Gas Exporting Countries Forum Thursday. Setting the agenda for the 11th ...

Asia: Malaysia's Petronas inks HOA with subsidiary for LNG terminal

Malaysia's state oil company Petronas has signed a heads of agreement with its subsidiary, Petronas Gas, to develop the LNG terminal on the west coast and provide regasification services, Petronas Gas said in a filing to the local stock exchange, Bursa Malaysia, on Wednesday. ...

Americas: Looming US ethanol tax credit expiry prompts competing Senate efforts

Ethanol advocates Wednesday pleaded their case for an extension of the US blender tax credit and import tariff, a day after another group of legislators called an extension "fiscally indefensible." The 45 cent/gal ethanol blender tax credit, which effects demand for that product, ...

China: Thinsoft (Holdings) to take over Foshan Ruifeng Petchem Fuel in Jan'11

Thinsoft (Holdings) is expected to officially take over Foshan Ruifeng Petrochemical Fuel in January 2011, with handover still underway now, according to a refinery source. The main management of Foshan Ruifeng Petrochemical would be retained and its business would be unchanged ...

Asia: Australia competition body eyes ExxonMobil-Caltex terminal deal

The Australian Competition and Consumer Commission on Thursday raised concerns about the proposed acquisition of an ExxonMobil fuel terminal at the Queensland port of Gladstone by its terminal neighbor Caltex, a year after opposing ExxonMobil's A$$300 million ($288 million) sale ...

China: PetroChina Lanzhou Petchem raises Dec crude throughput target by 18% to 930,000mt

PetroChina Lanzhou Petrochemical is slated to refine 930,000mt of crude in December, sharply up about 18% from the previous month, according to a refinery source. The refinery boosted crude consumption to fulfill year's target, the source explained. It set crude throughput target ...

China: PetroChina Liaoyang Petchem defers start of 4.5-mil-mt/yr CDU to Jan'11

PetroChina Liaoyang Petrochemical delayed to bring on stream a 4.5-mil-mt/yr crude distillate unit in January 2011, about one month later than scheduled, a refinery source said. The refinery would start operations of some supportive units of the CDU in mid-December, mainly ...

China: Sinopec ZRCC to increase daily LPG supply by 18.5% on ethylene unit maintenance

Sinopec Zhenhai Refining & Chemical Co is scheduled to have 1-2-week maintenance on its ethylene unit from Dec 8-10, and its daily LPG supply might rise by 500mt to 3,200mt during the maintenance period, a refinery source said. In face of increasing sales pressure, the refinery ...

Asia: Thailand's IRPC Pcl Plans Expansion of Propylene Capacity by 58% by 2014

Thailand's IRPC Pcl (IRPC) plans to expand propylene capacity by 58% by 2014, as per Reuters. IRPC, 37% owned by Thailand's top energy firm PTT Pcl plans to seek approval this month to go ahead with plans to expand annual capacity of propylene by 160,000 tons. Construction of a ...

China: Shandong independent refineries run at 46.1% Thu, up 2.3 percentage points on week

Operation rates of independent refineries in Shandong Province averaged 46.1% Thursday, up 2.3 percentage points from one week ago, up 15.1 percentage points compared with a year earlier, a survey showed. Two refineries restarted crude distillate units in the past week, with ...

Ammonia production cut in Trinidad on natural gas woes

HOUSTON-Shortages of natural gas in Trinidad are causing cutbacks in ammonia production that could result in higher prices in January, sources said on Thursday. The National Gas Co of Trinidad and Tobago (NGC) on 30 November started an 11-day shutdown for maintenance on natural ...

China: Gasoline export revenue much lower than domestic sales on price drops in Singapore

Gasoline export revenues for Chinese exporters became much lower than revenues reaped in domestic sales as Singapore gasoline prices edged down a survey found. In Singapore market, FOB price of 92-Ron gasoline, which has similar specifications with 93-Ron gasoline in China, was ...

China: China's fuel oil apparent consumption in Jan-Oct drops 3% yoy to 28.77-mil mt: NBS

p>China's apparent consumption of fuel oil in the first ten months of 2010 added up to 28.77-mil mt, down 3% from a year earlier, according to data released by the National Bureau of Statistics. The decline could be mainly attributable to sharp decrease in imports as minor ...
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