industry

p>Japan's base oil FOB prices were likely to rally on declining supplies due to base oil unit maintenance in Shell's refinery, one key base oil supplier in the country, a survey found. The refinery, with 300,000-mt/yr of capacity for Group I 150SN, 500SN and BS150 base oils ...
p>Dow Europe is set to target a Eur70/mt ($97/mt) increase for its November polyethylene prices, the company said in a statement. The increase will affect all of its low-density polyethylene, linear low-density polyethylene and high-density polyethylene resin, effective November ...
p>Sinopec Luoyang Petrochemical officially brought on stream its newly-installed 2.6-mil-mt/yr gasoil hydrotreating unit on Oct 16, a refinery source said, adding the refinery had reaped qualified GB III gasoil. With this unit in service, Luoyang Petrochemical saw its annual ...
Saudi Basic Industries Corp., the world s biggest petrochemicals maker, said third-quarter profit jumped 46 percent on higher prices, increased demand for its products and income from units. Net income advanced to 5.33 billion riyals ($1.42 billion) from 3.65 billion riyals a ...
p>Saudi Aramco promulgated its LPG loading plan for November late Monday, with butane supply 20% less than demand from regular customers, according to a Japanese importer. Less butane supply would impose limited impacts on the market, the importer believed, adding Saudi Aramco's ...
Dow Chemical announced in Polyurethanes 2010 Technical Conference that the company planned to establish a new TDI facility in Latin America. This February, it also announced to permanently shut down its TDI facility in Texas since second quarter. As a major TDI manufacturer ...
Oil prices have continued to soften at $82.51 a barrel for November delivery on the NYMEX Friday after a Federal Reserve Chairman Ben Bernanke s speech sparked some uncertainty as to how far the central bank will support the economy. Crude was also weighed down by the weekly ...
Continuing with its criticisms on the US, China on Monday criticized a US probe on Beijing s support to renewable energy producers in the country. According to China s National Energy Bureau, country s subsidies to clean energy companies are very small compared to those the US ...
In a significant agreement, Venezuela and Belarus agreed on a mega oil deal worth $19.4 billion. Visiting Venezuelan president Hugo Chavez and his Belarusian counterpart Alexander Lukashenko signed a deal enabling the former soviet state with 30 million metric tons of oil over ...
Tiny Persian Gulf nation Kuwait said it has increased oil production capacity to around 3.3 million barrels per day as it strives to achieve its target of four million bpd by 2020. According to country s energy ministry, three million bpd are produced by the state-run Kuwait Oil ...
p>The Colorado Mining Association is asking two of three state utility regulators to withdraw from considering Xcel Energy's $1.3 billion plan to retire early several coal-fired power plants and replace them with natural gas-burning plants. CMA contends Public Utilities ...
India announced plans to auction for exploring shale gas in the country. According to country s Petroleum Secretary S. Sundareshan the auctions will be held before 2012. Technology to extract gas from shale involves drilling multiple horizontal wells and using hydraulic ...
p>Shares of Texas shale natural gas producer Quicksilver Resources jumped 15% in Monday morning trading on news that its controlling family of stakeholders may take it private or enter into negotiations with a San Francisco hedge fund that is another major stakeholder. Shares in ...
p>European gas prices will remain linked to oil prices in the future through long-term gas sales contracts indexed to the oil market, the chairman of the board of directors of German company Wingas said. Gerhard Konig, speaking in an interview in Gazprom Export's newsletter sent ...
p>US Atlantic Coast ultra-low-sulfur diesel price differentials shed 50 points/gal Monday as the impact from the ongoing French strikes, which have curtailed most products production there, failed to entice prices higher on the US regional market. Platts assessed ULSD for barge ...
p>Sri Lanka's Ceylon Petroleum Corporation, or Ceypetco, is likely to cancel its term gasoil contract with UAE-based Al-Ain International Petroleum Derivatives, a source close to the matter said late Monday. "Nothing official has been announced," said the source, but added that ...
p>Operations at French refineries and ports continue to be disrupted by strike action Tuesday as workers joined a new wave of protests against government plans to overhaul pensions and trade unions said the movement was "getting stronger." The main trade union CGT said the ...
p>PetroChina Qinzhou refinery is expected to build a total of six units to improve its capability to process sour crude in 2012, an informed source said. The units comprise 4-mil-mt/yr residue hydrogenation-desulfuration unit, 2-mil-mt/yr gasoil hydro-upgrading unit and 700,000...
p>The window for upward adjustments in domestic oil product prices may open Wednesday, when the 22-working-day moving average price of reference crude price is more likely to rise above 4%, a estimation showed. Most market players expected the National Development & Reform ...
Russia's LukOil would not enter Chinese market in October as most Chinese importers' buying appetite was dispelled by hefty offers, revealed a domestic importer. In view of smooth sales in Europe, the giant hiked its base oil prices, offering US$900/mt and US$940/mt for its low ...
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Bill Gates talks nuclear
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