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China: Sinopec Yangzi Petchem shuts 4.5-mil-mt/yr CDU for maintenance due to glitch

Sinopec Yangzi Petrochemical put its 4.5-mil-mt/yr crude distillate unit into maintenance on Nov 7 owing to temporary glitch, expected to last 1-2 weeks, according to a refinery source. The refinery's crude throughput would thus drop to about 600,000mt in November, 9% less than ...

China: Fuel oil supply from S. China refineries estimated to rise 21% to 209,500mt in Nov: on month

Refineries in South China are estimated to supply a combined 209,500mt of fuel oil in November, sharply up 21% from the previous month, a survey found. The commodity output comprises of 49,500mt of slurry, 52,000mt of bituminous feedstock, which was residue sold under the name of ...

China: Shandong Hi-tech Chemical to start coker maintenance on Nov 6

Shandong Hi-tech Chemical Group set to close its 400,000mt/yr delayed coker on Nov 6 over unit glitch for 10-15-day maintenance, said a source from the company. All its inventories had been booked by now, leaving no cargoes for the spot market, he said. Normal daily petcoke ...

Americas:'Crude Oil may trade in $70-$90 range next year'

Raymond James Oil and Gas Analyst Luc Mageau believes that with relative near-term stability in oil and gas prices, making money in the exploration and production (E&P) space is all about picking the right companies. He covers mostly small players north of the border, especially ...

China: Sinopec Luoyang Petchem imports petcoke as CFB fuel in Oct

Sinopec's Luoyang Petrochemical began to replace self-made mid-sulfur petcoke with imported high-sulfur cargoes to fuel its circulating fluidized-bed (CFB) boiler in October, a source with the oil major said. The refinery sold to the spot market 4,000mt of petcoke with 2.5-2.9% ...

China: Shandong Jincheng Petchem restarts 800,000mt/yr coker on Nov 1

Shandong Jincheng Petrochemical Co Ltd in East China's Shandong Province resumed operation of its 800,000mt/yr coker on Nov 1, revealed a company source. Together with another 600,000mt/yr coker, the refinery currently yielded 800-900mt of petcoke per day, he added. As reported ...

China:Tough talk on safety issues of Shale Gas exploration

Hydraulic fracturing, also commonly called hydrofracking or fracking, is the process of drilling into shale and then turning the drill horizontally to tap pockets of natural gas. The Post-Standard says Ron Bishop, a chemistry professor at the State University College at Oneonta, ...

Americas:Trade Tech's uranium spot prices rise 11% in Oct

TradeTech s uranium spot price climbed during the month of October amid renewed buying interest from a variety of market participants and ended the month at US$52 per pound uranium oxide (U3O8) an increase of more than 11 percent compared to the September 30 TradeTech Exchange ...

Europe:Britain reversing trend in renewable energy

The renewable energy sector in Great Britain is behind its European counterparts but the trend may be reversing, analysts said at a Scottish energy summit. Keith Anderson, the director of renewable energy for energy company ScottishPower, said during an energy conference in ...

Asia: S Korea's SK Energy to restart long-idled No. 1 steam cracker

p>South Korea's SK Energy plans to restart its long-idled No. 1 naphtha-fed steam cracker at Ulsan on November 20, a company source said Monday. The steam cracker is able to produce 200,000 mt/year of ethylene and 140,000 mt/year of propylene. The cracker has been shut since ...

Americas: US steam cracker margins from light feeds gain on higher ethylene

p>US steam cracker margins surged this week tracing ethylene, which saw notable gains on the back of production outages. Despite strong ethane values, spot ethylene prices hit a 6-month high this week, heard traded as high as 51 cents/lb MtB Wms and 52.50 cents/lb MtB Equ. Spot ...

Europe: Spot NWe benzene prices rise by $18/mt on bullish global view

p>Spot Northwest European benzene traded $18/mt higher Monday morning following rises in the US Gulf Coast and the FOB Korea market, sources said. After closing at an assessed level of $974.50/mt for 1,000 metric tonne CIF ARA barges November 5, bid levels of $985/mt for November ...

Americas: US coal miner Massey's shares soar on report of Alpha offer

p>Massey Energy stock soared in late-day trading Friday, following a news report that its board is considering a buyout offer from Alpha Natural Resources to take over the embattled Richmond, Virginia coal producer. Massey shares closed up 11% at $46.94/share in heavy afternoon ...

Americas: Apache plans to drill South America's first shale natural gas well

p>US producer Apache Corp plans to drill its first natural gas well into a shale formation in Latin America before the end of the year, a company source said Friday. The company is conducting preliminary studies at its La Calera field in Argentina, according to the source, who is ...

Asia: INTERVIEW: Oil hedging could be more costly with new regulations

p>The trading of commodity derivatives, including oil, might be more costly with new regulatory developments changing the landscape on how these products are dealt with, said Olivier Godin, managing director of the Commodities Group in Societe Generale Singapore in an interview ...

EURO GAS: Continental prompt trades flat, spreads close in

p>The prompt contracts for Continental European gas traded pretty much unchanged midday Monday from Friday's closing price. These contracts also closed in on each other after the previous week's milder weather caused them to diverge. The German GASPOOL and PEG Nord day-ahead ...

Americas: US Atlantic Coast utility-grade fuel oil breaches two-year highs

p>Utility-grade low sulfur residual fuel oil prices continued to hit record-high levels on seasonal demand and tight supply Friday. Platts assessed the 0.3% sulfur high pour physical market at $86.45/b, up $1.35/b from Thursday, the highest level for this product since October 2, ...

Africa: Sudan has large potential to raise crude output using IOR: study

p>A joint study between Sudan and Norway has identified "large potential" for Sudan to increase its oil output using improved oil recovery, the Norwegian Embassy in Khartoum said Sunday. "Based on available data from fields in GNPOC blocks 1, 2 and 4, our screening assessment ...

Middle East:Azerbaijan has positive outlook on Nabucco

The economic potential to build the Nabucco pipeline for Europe exists, though it hasn't been a proven viability, an official from gas-rich Azerbaijan said. Europe aims to break the Russian grip on the regional gas sector through the Nabucco gas pipeline that could transport ...

Americas: US crude, gasoline, distillate stocks tumble: API

p>US petroleum stocks tumbled last week, with large draws seen in crude, gasoline and distillate inventories, data released by the American Petroleum Institute showed Tuesday. US crude stocks fell 4.137 million barrels to 367.592 million barrels, with the largest decline seen in ...
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