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Americas: US lifts deepwater drilling moratorium, sets new rules

p>The US deepwater drilling moratorium, which was originally set to expire November 30, will be lifted immediately, Interior Secretary Ken Salazar said Tuesday. "We are open for business," Salazar said during a conference call with reporters. But Salazar and Michael Bromwich, ...

China: Run rate of major Chinese refineries inches up to 86.73%

Operating rates of major Chinese refineries averaged 86.73% on Oct 14, slightly up 0.91 percentage points from two weeks ago, 2.24 percentage points higher compared to the same period last year, a survey found. Daqing Refining & Chemical and Jinxi Petrochemical both wrapped up ...

China: CNOOC starts to reconstruct heavy oil research center in Shandong's Qingdao city

p>CNOOC has recently shut its heavy oil processing technology research center for reconstruction in Qingdao City of Shandong Province, expected to be complete around the Spring Festival (early February), according to a source with the center. "We plan to refine foreign crude in ...

Asia: Japan's Idemitsu Kosan to suspend base oil spot supplies in Oct

Japan's Idemitsu Kosan Co Ltd would halt its base oil supplies to China in October, said a source with the company. The company had been holding low stockpiles since mid August, when its base oil production was suspended for two weeks due to unit glitch, introduced the source. ...

China: Shandong independent refineries run at 47.6% Thu, down 2 percentage points from two weeks ago

Operation rate of independent refineries in Shandong Province averaged 47.6% Thursday, down 2 percentage points from two weeks ago, sharply up 21.6 percentage points from a year earlier, a survey showed. Shandong Shenchi Chemical halted production from Oct 10 due to outage, the ...

China: Base oil prices further mount up after National Day Holiday

p>Prices of base oils, including standard and off-spec grades, went up by Yuan 50-200/mt after the National Day Holiday (Oct 1-7) amid soaring crude benchmarks. Offers for Group II 150N recorded sharpest increase, inching up by Yuan 100-200/mt to Yuan 9,400-9,500/mt, also found ...

Middle East: Kuwait's KPC cancels sell tender for refrigerated LPG

Kuwait Petroleum Corp canceled its latest sell tender for refrigerated LPG late Wednesday probably due to facility problem, according to market sources. KPC issued the tender Tuesday to offer 40,000mt of refrigerated LPG at a 75:25 ratio for Nov 1-2 loading. China ChemNet will ...

China: Funshun Petrochemical FRCC Unit to Adopt Boosting Propylene Technical Process

p>Fushun Petrochemical Co. Second Plant planned to alter its FRCC unit by adopting the MIP maximizing olefin and boosting propylene technical process to reduce energy consumption. The facility s capacity was planned to be expanded to 1.7mt/y. After the alteration, energy ...

Asia: China's BDO Market Probably to Witness Superfluous Capacities in 2015

p>According to China s National Development and Reform Commission Industry Coordination Division, domestic BDO capacity is expected to exceed 1000kt/y in 2015. As a result, materials may probably be superfluous by that time. However, in 2015, global consumption is predicted to ...

Americas: Buckley Named General Manager of Dow Performance Materials

p>Buckley Named General Manager of Dow Performance Materials and Elected President and CEO of ANGUS Chemical Company Buffalo Grove, IL - October 5, 2010 - John Buckley has been named global general manager of Performance Materials, a business unit of The Dow Chemical Company (Dow...

Americas: Dow Corning Solar Names Allison Ashbrook as Global Distribution Manager

p>Midland, Mich. Dow Corning has named Allison Ashbrook as global distribution manager for its solar business, which provides silicon-based solutions throughout the entire photovoltaic value chain. Based at Dow Corning facilities in Newark, Calif., Ashbrook will be responsible ...

Americas: PG and E electrical work caused valve failure prior to pipe blast: US NTSB

p>In a preliminary report on its investigation into the fatal explosion of a Pacific Gas and Electric natural gas transmission pipeline, the US National Transportation Safety Board confirmed Wednesday that work the utility was conducting at a terminal upstream of the blast caused ...

Asia: Japan's Marubeni to buy stake in 8 LNG carriers from BW Gas

p>Japan's Marubeni has agreed to acquire a 49% interest in eight LNG carriers from Bermuda-incorporated BW Gas for a cost of "about" $700 million, the Japanese trading company said Thursday. The eight ships are currently under long-term charter to Nigeria LNG and have been ...

Americas: US mixed xylenes leaps 6.50 cents/gal on Asia's bull run

p>USG mixed xylenes were up 6.50 cents/gal ($20/mt) Wednesday, following Asia's $33/mt (11 cents/gal) surge for H1 December on an FOB Korea basis. MX was bid at 310 cents/gal in early US trading against an offer at 320 cents/gal. The H1 December FOB Korea assessment closed at $1...

Asia: Indonesia Pertamina stops propylene supply to Polytama on unpaid dues

p>Indonesia's Pertamina has stopped supplying propylene feedstock to Polytama Propindo since early September because of non-payment of dues, sources close to both companies said Thursday. Polytama operates a 230,000 mt/year polypropylene plant at Balongan, West Java, and ...

Europe; French Arkema declares force majeure on oxo alcohols from Lavera

p>French petrochemical producer Arkema has declared force majeure at its oxo alcohol production unit at Lavera, France due to strike action at the port, a company spokesman said. The production of 2-ethylhexanol (2-eh) and butanol from the plant was halted due to a lack of ...

Americas: Strong pricing leads CSX to record Q3 earnings

p>CSX Corp may be operating more trains as the US economy improves, but higher pricing -- not locomotives -- pulled the railroad to record profits during the third quarter. The Jacksonville, Florida, company reported third-quarter income of $414 million, a 43% jump good for $1.08 ...

Americas: EPA approval will not unleash sales of E15

p>The US Environmental Protection Agency said October 13 it has approved the use of up to 15% ethanol (E15) in gasoline for conventional vehicles of model year 2007 and younger, but the fuel will not hit the market anytime soon. EPA also said it is testing higher ethanol blends ...

Asia: China to boost Coal Bed Methane (CBM) extraction to improve Coal Mine Safety

p>China is working on ways to encourage large-scale coal bed methane extraction in efforts to improve coal mine safety, a Chinese official said Thursday. Zhang Guobao, deputy chairman of the National Development and Reform Commission, said the measures would include higher ...

Asia: Indonesia Pertamina to import up to 4 mil barrels term gasoil in Nov

p>Indonesian state-owned oil and gas company Pertamina is expected to import up to 4 million barrels of gasoil in November, less than the estimated 5 million barrels for October, a source familiar with the matter said Thursday. The company's November volumes are expected to be ...
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IMF chief warns of risks to recovery
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China's farm product pricing plan shifts to market orientation
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Chinese investors look to overseas opportunities
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Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
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Lucrative golf industry lures stiff competition
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