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Middle East:Oil company hails Iraqi political deal

Developments in breaking an eight-month impasse in Baghdad could open to door to oil exports from the northern Kurdish region, a Norwegian oil company said. Iraqi political leaders reached a power-sharing agreement late Wednesday that gives incumbent Prime Minister Nouri al...

UK GAS:Prompt stronger on demand rise ahead of storage injections

p>UK prompt gas prices were stronger on the back of a demand rise with injections into Rough storage Friday despite warmer weather, while supply took a hit on low LNG flows, traders said. Within-day gas gained 0.95 pence a therm from Thursday's close at 1200 London time at 47.05 ...

China: PetroChina's daily crude throughput to hit historical high in Nov

Refineries affiliated to PetroChina are estimated to refine 12.01-mil mt of crude in November, with daily throughput hitting record-high 400,333mt, up 2.1% on month, a survey found. Qinzhou refinery and Qingyang Petrochemical would continue to increase crude throughput in the ...

China:Gold and Crude to be up and running again

The financial markets continue to climb the wall of worry on the back of more Fed Quantitative Easing. Those trying to pick a top in this choppy bull market may prove to be correct for a couple hours but over time the shorts continue to get clobbered. Quantitative easing was ...

Asia: Styron Assumes Dow's 50% Interest In Polycarbonate JV with Sumitomo

Tokyo - Styron has acquired Dow Chemical Co.'s 50% holding in the Sumitomo Dow Ltd. Asian polycarbonate joint venture with Sumitomo Chemical. Styron noted that the acquisition, for which financial terms were not disclosed, is consistent with Dow s divestiture of Styron to Bain ...

China: Mitsui and Sinopec Plan Venture To Build Shanghai EPT Facility

Shanghai - Mitsui Chemicals Inc. (MCI) and China Petroleum & Chemical Corp. (Sinopec) have entered into a formal agreement to establish a new joint venture to build an ethylene-propylene-diene terpolymer (EPT) plant in Shanghai, China. The equally owned venture, tentatively named ...

Americas:BP has problems in Alaska, report finds

BP has an aggressive pipeline inspection system in Alaska, an official said after internal reports revealed parts of the network are close to failure. ProPublica, a non-profit news agency, said it obtained a copy of BP's internal maintenance reports that found 148 pipelines in ...

Middle East:Iran targets 55 Ml gasoline from refineries by year end

55 million liters of gasoline per day is the target of Iran from its refineries by the end of current Iranian calendar year (March 20, 2011), according to the managing director of the National Iranian Oil Products Refining and Distribution Company The Islamic Republic of Iran ...

Asia: Increases on PET prices maintain their pace in global markets

In China, domestic PET producers revised up their November benchmark prices by CNY100-200/ton ($15-30/ton) on ex-warehouse/FD China basis, in line with the rising crude oil prices, which gained over $5/bbl since the end of last week. Meanwhile, the export market also moved up as ...

Asia:Gazprom announces first Africa gas discovery

Russia s largest gas company, Gazprom announced its first African gas discovery in Algeria. According to Gazprom EP International, company's global exploration and production unit, the RSH2 well in Algeria produced at 2.7 million standard cubic feet, or 75,000 cubic meters, of ...

Asia: Australia's Arrow finds traces of benzene in coalseam gas wells

p>Arrow Energy has become the second Australian coalseam gas producer in recent weeks to find traces of carcinogenic benzene in fluid samples from wells in the eastern state of Queensland. The company advised Queensland state government authorities and landholders Monday that its ...

Americas:Statoil wants more acreage in NCS

Access to new natural resource reserves in the Norwegian and Barents seas are vital for long-term development success, executives at Statoil declared. Norwegian energy company Statoil said it planned to expand its portfolio in the Norwegian continental shelf next year. Tom Dreyer...

Asia: Australian AWE finds potentially commercial shale gas in Perth Basin

p>Australian oil and gas producer AWE said Tuesday it had found a potentially commercial shale gas resource in the Perth Basin in the state of Western Australia. "In AWE's view, the strong commercial drivers apparent in the Perth Basin could allow this shale gas opportunity to ...

Americas: US Gulf Coast jet fuel outright price reaches two-year high

p>The outright price for US Gulf Coast jet fuel Monday touched its highest mark since after Hurricane Ike in late 2008, climbing to $2.3696/gal on the back of a resurgent NYMEX heating oil contract and on a pipeline scheduling deadline. Platts assessed jet fuel down 75 points to ...

Asia: Unipec mulls import of high sulfur gasoil into China: source

p>Unipec, the trading arm of China's Sinopec, is mulling the import of high sulfur gasoil following a dramatic shortage of diesel in the country, which is an exporter of gasoil, a source familiar with the matter said Tuesday. "It's still under consideration ... Not sure when, but ...

Europe: Med LSFO traders see winter price rise starting as utilities buy

p>Demand from utilities could mark the start of a seasonal rise in low sulfur fuel oil prices in the Mediterranean, market sources said Tuesday. Cepsa was seeking 10,000 mt LSFO into Spain, and Greek State owned utility Public Power Corporation has an outstanding tender seeking ...

China: Sinopec to produce 143,000mt more gasoil in S. China in Nov to ease supply tension

Refineries subsidiary to Sinopec in South China are expected to raise gasoil output by 143,000mt in total in November to mitigate supply tightness, according to refinery sources. The increment accounted for 9% of the normal monthly gasoil yield of the refineries. Having been ...

China: Maoming Petchem to start construction of 12-mil-mt/yr CDU late Nov

Sinopec Maoming Petrochemical will begin construction of a 12-mil-mt/yr crude distillate unit at the end of November, according to a source with the refinery. This project has passed the environmental evaluation by the Ministry of Environmental Protection of the PRC, the source ...

China: Sinopec Yangzi Petchem reduces gasoil supply on emergent CDU maintenance

Sinopec Yangzi Petrochemical had to decrease gasoil supply after a 4.5-mil-mt/yr crude distillate unit conked down on Nov 7, a source with Sinopec Jiangsu said. The refinery's crude throughput would decline to about 600,000mt in November, 9% less than scheduled, according to a ...

China: Sinopec Yanshan Petchem restarts long-idled 2.5-mil-mt/yr CDU to boost gasoil output

In order to raise gasoil production, Sinopec Yanshan Petrochemical in North China has lately restarted a long-idled 2.5-mil-mt/yr crude distillate unit (CDU), according to a source with the refinery. With this unit back on stream, Yanshan Petrochemical is estimated to hike ...
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