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Asia:India sees 40% increase in oil demand by 2020

Asia s third largest economy, India s oil demand is likely to grow by 40 percent in the next decade, said country s Prime Minister. Inaugurating Petrotech-2010 oil and gas conference here, Dr Manmohan Singh stressed on securing energy supplies at affordable prices to meet ...

China: PetroChina Daqing Petchem to keep daily crude throughput stable at 18,000mt in Nov

PetroChina Daqing Petrochemical is slated to refine 530,000mt of crude in November, with daily throughput flat at 18,000mt compared with the previous month, a refinery source said. With no turnaround plan in the fourth quarter, the refinery's crude throughput is estimated at 530...

Americas: Eastman to Sell Performance Polymers PET Business

KINGSPORT, Tenn., Oct. 25, 2010-Eastman Chemical Company (NYSE:EMN) today announced it has entered into a definitive agreement with DAK Americas, LLC, to sell the PET business and related assets and technology of its Performance Polymers segment. The transaction is expected to ...

Middle East: SABIC Valox ENH Resins Launched for Green FR PBT Materials

SABIC Innovative Plastics launched three new sustainable additions to its Valox* ENH resin series that deliver advanced flame retardance (FR) with desirable mechanical and electrical performance. These innovative materials help customers comply with global environmental ...

Europe:Italy's import of Iran oil up despite sanctions

Italian imports of oil from Iran are up dramatically for 2010 despite pressure from economic sanctions, the Iranian oil ministry said.The Iranian Oil Ministry's Petroenergy Information Network said reports from Italian industrial group Unione Petrolifera showed Italian imports of ...

Americas:25 mn gallon Ethanol Plant up for auction in USA

Tri State Financial, an energy firm has annoucned the auction of its North Country Ethanol Plant in Rosholt. SD. Thomas Stalnaker, Trustee of Tri State Financial, LLC, said the Sealed Bid Auction will be opened at 5:00 pm February 1, 2011. In 2008, the ethanol industry saw ...

Asia:India, Japan speed up civil nuclear deal talks

India and Japan announced Monday the two countries would speed up negotiations on a civil nuclear deal. Indian Prime Minister Manmohan Singh arrived in Tokyo Sunday for extensive bilateral talks with his Japanese counterpart Naoto Kan, noting in advance of the two-day visit that ...

China:Oil slips toward $82 as dollar strengthens

World oil prices eased near $82 a barrel in Asian trade Wednesday mainly after reports of increase in US crude supplies. Light sweet crude for December delivery was seen trading at $82.09 a barrel at 12.30 p.m Singapore time while Brent crude was at $83.34 a barrel in London. In ...

Asia: SK Energy, Posco launch study on producing chemicals from byproducts

p>SK Energy, South Korea's top oil refiner and chemicals producer, said Tuesday it has signed a preliminary accord with the country's top steelmaker Posco to produce chemical products, like plastics, using byproducts from the petrochemical and steelmaking businesses. Under the ...

Europe:Eni declares more Oil finds in Angola

Oil flowed at a rate of nearly 7,000 barrels per day from a test well off the coast of Angola, Italian energy company Eni announced. Eni and its partners at Angola's oil and natural gas company Sonangol said they tested a major oil discovery off the coast of the country. The ...

Americas: Atlantic Coast 1%S resid at highest premium to 3%S since August 20

p>US Atlantic Coast physical 1%S residual fuel oil prices ended Tuesday at the highest premium over 3%S since August 20, as demand for the latter continued to lag behind, sources said. During the Platts Market on Close process there was an offer for a 120,000-barrel cargo of 3%S ...

Middle East: Iraq-Shell gas joint venture approval expected by year-end

p>An agreement with Anglo-Dutch Shell and Japan's Mitsubishi on a joint venture to capture, treat and utilize flared associated gas in southern Iraq will be approved by the Council of Ministers by the end of the year, the top Iraqi adviser on the project said Wednesday. The joint ...

Europe: Coaster butane prices in NWE rise sharply on thin availability

p>Spot FOB prices for coaster butane cargoes in Northwest Europe have increased sharply on thin availability, according to industry sources. Based on Platts data, FOB prices have climbed by $150/mt since the beginning of October, moving up from the high $670s to a last published ...

Asia: Brazil's Petrobras rethinking $1 bil refinery upgrade

p>Brazil's state-led Petrobras has entered into talks with an unidentified Chinese company to take an equity stake and also as a potential buyer of its ethanol, a senior company official told Platts late Tuesday. Following a memorandum of understanding this year, Petrobras ...

Europe: UK awards 144 exploration licences in latest offshore round

p>The UK has awarded 144 exploration licenses 83 companies in its 26th offshore licensing round, the UK's Department of Energy and Climate Change said Wednesday. The number of licenses awarded, which cover 268 blocks, is down from 192 in the previous 2008 round when 100 companies ...

China: Guangdong minor refineries see better refining margins on rising substandard gasoil prices

Minor refineries in South China's Guangdong Province could reap more refining margins as prices of substandard gasoil kept rising, a survey found. The margin was Yuan 72/mt on average in theory Wednesday, up Yuan 48/mt from one week ago, versus minus Yuan 305/mt a year earlier, ...

China: Titan Petchem likely to start operation of 203,000-cu-m oil product tank farm in Guangzhou at yearend

With the construction of a 203,000-cu-m oil product tank farm to be complete soon in Nansha District of Guangzhou City, Titan Petrochemical is expected to bring it on stream at the end of the year, according to a source with the company. The tank farm, which came under constructi...

China: Bad weather disrupts LPG barge sales of Sinopec Qingdao Refining & Chemical

Sinopec Qingdao Refining & Chemical had recorded no LPG barge sales since Oct 21 due to extreme weather, a refinery source said. The refinery had to halt LPG barge loading at Huangdao port in recent two days as "Chaba" and cold air jointly caused surging waves at sea, said the ...

Asia: Russia's Angarsk Refinery to export 10,000mt of base oils to China in Nov

Russia's Angarsk Refinery planned to export 10,000mt of base oils to China in November, including equal volumes of 2,500mt for 150N, 250N, 450N and 650N specs respectively, revealed an international trader. Export prices would be finalized after the bidding closed next week, he ...

China: Sinopec, PetroChina to boost base oil prices in Nov after distillates markup: company sources

Sinopec and PetroChina would further lift their base oil ex-refinery prices in November to match the markups in domestic gasoline and gasoil prices, sources with the two oil giants said. The National Development & Reform Commission, China's energy watchdog, lifted retail ceiling ...
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