industry

Gold and oil prices ended the week on record gains in New York mainly on weak dollar and disappointed US employment data. Light sweet crude for January delivery was seen trading at $89.19 a barrel at close Friday on Nymex while Brent crude ended at $91.42 a dollar in London. Spot ...
Commodities across the board hit multi-week and multiyear highs, spurred by reports of positive manufacturing data from across China, the US and Europe and on hopes of an increase in demand as economic recovery gains traction. The Thomson Reuters/Jefferies CRB Index of 19 ...
In a video clip(http://www.cnbc.com/id/15840232?play=1&video=1648701720) dated Nov. 17, CNBC's Sharon Epperson quoted an analyst's note from HSBC pointing out that California currently consumes more crude oil than China. As I do not have a copy of the HSBC report, and therefore ...
The implementation of a plan to integrate Baltic energy markets is a long-term objective, four governments declared after meeting with EU officials. Representatives from Estonia, Latvia, Lithuania and Poland said after meeting with delegates from the European Union that the ...
The Scottish government is leading in the effort to connect its offshore energy grid to the European electricity network, its energy minister said. "Scotland is playing a key role in the development and deployment of an interconnected offshore grid in the North Sea, recently ...
Saudi Aramco has concluded naphtha term talks with its customers for the January-June 2011 supply cycle, with most -- if not all -- renewing their term contracts for the new cycle, market sources said Friday. The Middle Eastern oil giant fixed its offer for treated naphtha from ...
The spread between December Northwest European naphtha and benzene has dropped to $150/mt as length in benzene has meant that strong crude-inspired gains in naphtha have not been passed through to benzene prices. Platts data shows that the assessed naphtha-benzene spread December ...
US December propylene contracts have begun settling up 3 cents/lb, two producers confirmed late Thursday and early Friday. The new polymer grade propylene CP was set to be 60.50 cents/lb while chemical grade contracts were headed to 59 cents/lb. Initial December nominations were ...
The US styrene price was heard traded this week at 57.25 cents/lb, with sources saying 2,000 tons of material would be shipped to India. Earlier in the week, sources talked the spot price for styrene between 54 and 55 cents/lb, which would have been too low to motivate sellers, a ...
A combined 93,700mt of gasoline and gasoil were transported southwards from Tianjin port in North China in November, up 30% from the previous month, according to a port source. The volume of gasoline was 41,500mt, down 11% on month, while gasoil swelled 105% to 52,200mt, the ...
Angola's oil accounts for 2008 shows discrepancies amounting to billions of dollars and millions of barrels, according to a London-based anti-corruption watchdog. There is an $8.55 billion discrepancy between data published by the state-owned Sonangol and the ministries of ...
Sinopec is expected to transmit a combined 736,000mt of gasoil and gasoline to Southwest China's Guangxi, Guizhou and Yunnan via its Southwest Oil Product Pipeline in December, up 4.4% from the previous month, revealed a source with pipeline department of the oil giant. Gasoil ...
Sinopec Shanghai Petrochemical is slated to refine 920,000mt of crude in December, with daily consumption flat with the previous month, according to a refinery source. The refinery shut a 1-mil-mt/yr fluid catalytic cracker for 10-day maintenance on Dec 3, imposing few impacts on ...
Venezuela seeks China's aid to achieve its target of achieving 7 million barrels per day oil output by 2021. Venezuela's Energy Minister Rafael Ramirez said invest more than $40 billion in country s oil- and gas-rich eastern Orinoco belt by 2016. Ramirez said China Petroleum and ...
Fujian Refining & Petrochemical plans to refine 900,000mt of crude in December, stable from one month earlier, said a refinery source. The refinery arranges to have one-month maintenance on its old 4-mil-mt/yr crude distillate unit in 2011, but the exact date was unfixed yet, the ...
Theoretical coking margins in Shandong independent refineries plunged to the negative territory this week, a survey found. Coking loss reached Yuan 85/mt, as prices of coking products recorded greater declines than feedstock price. Gasoil price slid Yuan 125/mt to Yuan 7,725/mt ...
The euro rallied versus the dollar after the U.S. government said nonfarm payrolls increased much less than expected and the unemployment rate rose to a seven-month peak. Plunging temperatures in Europe and colder weather in parts of the United States prompted a surge in demand ...
Shandong independent refineries cut coker run rate by 2.4 percentage points to 60.2% this week, a survey found. Most local refineries kept cokers in normal operation this week, except for Shandong Huifeng Petroleum & Chemical Co Ltd. The refinery recorded unsteady output owing to ...
J.W Jones Pre-Market trading on Friday morning was wild as the S&P 500 did not react well to the latest jobs report. Sellers stepped in and pushed down the e-mini contract by over 10 points in less than 15 minutes which is a pretty drastic move. It is critical to note that before ...
CNOOC Taizhou refinery shut down production for 15-day turnaround as from Dec 1, according to a source with the refinery. Taizhou refinery is one of East China's major producers of residue, which the refinery usually sells under the name of 200# bitumen or bituminous feedstock. ...
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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
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 ...
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 ...
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 ...