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Europe:Greenpeace sues U.K. over ocean drilling

Greenpeace says it is suing the United Kingdom in an effort to stop any new deepwater oil drilling of the country's coast. The environmental group said it filed a suit in the Royal Courts of Justice seeking a ban on all new activity until the causes of BP's Deepwater Horizon ...

Asia:Oil climbs above $85 in Asian trade

World oil prices climbed past the $85 a barrel mark in Asian trade Monday on signs of increase in energy demand. Light sweet crude for December delivery was seen trading at $ 85.25 a barrel at 12.00 noon Singapore time while Brent crude was at $86.54 a barrel in London. Analysts ...

Middle East:Iraq claims third spot in crude oil reserves

After re-estimating its explored oil reserves with the help of global oil companies, Iraq said it now holds third place behind Saudi Arabia and Venezuela in crude oil reserves. Iraq s oil ministry put country s estimated oil reserves at 143 billion barrels rather than 115 billion ...

Europe:Model to accurately predict latent hydrocarbons

Scientists from Royal Holloway, University of London and The Spanish Research Council have revealed a new model that explains what happens as the continents thin as well as helping to more accurately predict the location of hydrocarbons such as oil and gas. The scientists offer a ...

Americas: US toluene, MX comes to a halt on Asia's collapse, energy drop

p>US toluene and mixed xylenes interest came to a halt Friday following an overnight collapse in Asian aromatics and a drop in energy. Paraxylene on an FOB Korea basis tumbled $121/mt to $1,209/mt for H1 January. The fall was on the back of cotton futures, which had been ...

Americas: PDVSA gives contract for Mariscal Sucre platform to Technip

p>Venezuelan state oil company PDVSA said Friday it awarded French oil technology company Technip a contract to build Venezuela's first offshore natural gas production platform. The platform will be used for the Mariscal Sucre exploration and production project. PDVSA, in a ...

Asia: Australia's Apollo plans to search for coalseam gas under Sydney

p>Australia's Apollo Gas confirmed Monday it was planning to search for coalseam gas under the country's most populous city of Sydney but moved to ally residents' fears of "gas wells popping up around them." The company was responding to local media reports after details of its ...

China: Sinopec plans to import 100,000-200,000mt more gasoil to ensure supply

Sinopec has recently issued an internal notice saying it would import 100,000-200,000mt more gasoil after it planned 80,000mt of imports earlier, an insider said. The oil major would suspend gasoil exports in November and December, except those for supplying Hong Kong, Macao and ...

Europe: Russia, Bulgaria create JV to build South Stream gas pipeline

p>Russia and Bulgaria signed a deal Saturday to set up a joint venture to build and operate the Bulgarian stretch of the planned South Stream gas pipeline in a ceremony attended by both countries' prime ministers. "South Stream is important across Europe. Italy and France have ...

Asia: US, Europe consortium give Pakistan Nov 30 deadline for LNG deal

p>A consortium of US and European companies has told Pakistan to finalize a deal to import 3.5 million mt/year of LNG by November 30 or they will abandon it, a petroleum ministry official said Monday. The consortium 4Gas said this a letter to the government and the ministry of ...

China's Oct gasoline output sets new high of 6.6-mil mt: NBS

China's gasoline output hit historical-high 6.6-mil mt in October, up 5.08% from the previous month, up 6.01% compared with the same period last year, according to data released by the National Bureau of Statistics. Market sources ascribed the on-month rise to higher crude ...

China's Oct gasoil output rises 3.79% on month to 13.61-mil mt: NBS

China produced 13.61-mil mt of gasoil in October, up 3.79% from the previous month, up 8.2% compared to a year earlier, according to data released by the National Bureau of Statistics. The output rise was lower than that in demand as major refineries showed low interest in gasoil ...

China: MOFCOM grants 74 companies licenses for 2011 oil product imports under non-state-owned category

Seventy-four enterprises, including eight independent refineries in Shandong, have been granted the license for oil product (fuel oil) imports under non-state-owned category in 2011 by the Ministry of Commerce of PRC (MOFCOM), according to a notice that MOFCOM released on its ...

China's Oct LPG output hits year's second high: NBS

p>China recorded around 1.89-mil mt of LPG output in October, hitting the second highest level of this year, according to data from the National Bureau of Statistics. The output was up 10.46% on month, higher than 6.1% of increase in crude throughput, mainly due to higher LPG ...

China: Sinopec Maoming Petchem to step up LPG output with maintenance complete

Sinopec Maoming Petrochemical is expected to lift LPG output gradually after it wrapped up unit maintenance Tuesday, a refinery source said. The refinery's LPG supply was bout 1,100mt Tuesday, increasing not much from the previous day, according to the source. Maoming Petrochemic...

Asia: Iran's Pars to ship 17,000 mt of SM to China by Nov 21

p>Iran's Pars Petrochemical Company, is expected to ship between 15,000-17,000 mt of styrene monomer to China by the end of the week, a company source said Monday. Pars, which restarted its 600,000 mt/year SM plant at Assaluyeh October 30 after shutting on August 22 due to a ...

China: Shanxi Antai Group Delayed Construction of Coke Oven Gas-to-methanol Project

Shanxi Antai Group Holding Co., Ltd. determined to put off the construction of its 200kt/y coke oven gas-to-methanol project. According to the company, most methanol and dimethyl ether manufacturers witnessed losses as prices were lower than cost prices. By the end of 2010, China ...

Europe: Braskem & INEOS Technologies Enter Strategic Partnership for Polyethylene (PE) Technologies

p>Braskem and INEOS Technologies have entered into a strategic partnership for PE technologies, under which Braskem is able to acquire licenses for Innovene S slurry and Innovene G gas-phase technologies to produce high density PE and linear low density PE, in future petrochemica...

Europe:Belarus to lessen natgas import from Russia in 2011

Belarus said it would cut the amount of oil it gets from Russian in 2011 by 50 percent as it looks to other suppliers, the country's president said. Belarusian President Alexander Lukashenko said Friday that a deal with Venezuela means his country can pull back on the amount of ...

Americas: US Cobalt negotiates standby rate for new Gulf of Mexico rig, seeks sublease

p>While waiting for regulatory uncertainty to clear, US independent Cobalt International Energy has negotiated a $200,000/day standby rate for a new deepwater drilling rig scheduled for delivery soon to the Gulf of Mexico, Cobalt CEO Joseph Bryant said Friday. Meeting with ...
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