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Rights to largest Brazil oil deposit to be auctioned

Rights to what may be the largest Brazilian oil deposit in the country's deep waters may be auctioned off next year, an official said in Rio de Janeiro. Magda Chambriard, a director of the Brazilian National Agency of Petroleum, Natural Gas and Biofuels, said independent ...

China's Keyuan begins construction of new SBS facility in Ningbo

p>China's Keyuan Petrochemicals started construction of its first styrene-butadiene-styrene production facility in Ningbo, Zhejiang Province on September 1, the company said Wednesday. The new 70,000 mt/year SBS facility will be built adjacent to the company's integrated ...

Americas: US spot ethylene prices continue to fall on weaker fundamentals

p>US spot ethylene prices continued to slide Wednesday with sources reporting two September deals done at 33.75 cents/lb MtB Wms and Equ. Prices have fallen roughly 3.75 cents since the start of the month.Values were at their lowest point since July 27, when spot was assessed at ...

Asia-Pacific Saw an Annual Growth of 7% in Flame Retardant Consumption

p>The Asia-Pacific area saw an annual average growth of 7% in flame retardant consumption while the data was only 4% in Europe and America market. It was predicted that key consumption area would gradually transfer to Asia-Pacific area, with engineering plastic and PU plastic ...

Merquinsa to Unveil a New Wave of TPU Specialties at K2010

MONTMEL , Barcelona -- Merquinsa, the TPU Specialty Company, announced its participation at K 2010 in D sseldorf, Germany, from 27th Oct. to 3rd Nov., where it will be exhibiting for the first time in Hall 6, one of the main fair halls. Under the motto "Everything You Can Imagine...

Middle East: Oman's Octal gives 550,000 mt/yr PET plant deal to German company

p>Oman's Octal Petrochemicals said Wednesday it has awarded a contract to Germany's Uhde Inventa-Fischer to build a 550,000 mt/year polyethylene terephthalate resin plant. The plant, which will use melt-to-resin, or MTR, technology proprietary to Uhde Inventa-Fischer, will be ...

Americas: US over-the-counter coal products lower in high-volume session

p>Coal prices continued to push lower in US over-the-counter trading on Wednesday. In improved volume, front-month contracts for NYMEX look-alike,Powder River Basin and CSX rail delivered physical coal all declined. Front-month look-alike traded at $59.75/st, $1.35 below Tuesday...

Europe: Poland's Bogdanka and Kozienice to sign coal contract: report

p>Poland's Bogdanka coal mine and the country's largest hard coal-fired plant Elektrownia Kozienice are on the verge of signing a conditional forward coal supply agreement in November thought to be worth about Zloty 5.5 billion ($1.78 billion) over a 10 year period, according to ...

Asia: Global LNG market unlikely to be oversupplied in 2011

p>The global LNG market is unlikely to be oversupplied in 2011 on the back of supply chain flexibility adapting to the pace of demand increases,Barclays Capital said in a commodities research report issued late Tuesday. The company projected global LNG production to increase by 3 ...

Americas: October NYMEX gas futures contract steadies in electronic trading

p>The October NYMEX natural gas futures contract remained relatively flat in electronic trading. As of 8:28 am EDT (1228 GMT) the contract was trading at $3.845/MMBtu, down 0.7 cents from Tuesday's $3.852/MMBtu settlement. The contract has been trading overnight between $3.818...

EU may drop biofuel plan as pressure mounts

The European Union is yet to make a decision on its biofuel policy to produce 10 per cent of all transport fuels from biofuels by 2020. Many environmentalist groups have urged the EU to drop their biofuels targets or else risk plunging more Africans into hunger and raising carbon ...

China: Sinopec Zhoushan intends to occupy 2/3 of China's bonded bunker market before 2013

p>Sinopec Zhoushan intends to snatch up two thirds of China's bonded bunker market before 2013, according to a source with the company. Judged by current sales and market share, Sinopec Zhoushan is still far away from this target, the source said, adding that the company set its ...

Europe: Two more E Siberia fields to link to ESPO in Dec, flows start Jan

p>Two medium-sized fields in Russia's East Siberian Irkutsk region will be linked to the East Siberia-Pacific Ocean pipeline in December ready to begin flows in January, a subsidiary of national oil transportation monopoly Transneft said Friday. The infrastructure to connect the ...

China: PetroChina to refine 10% more crude daily in Sep with two refineries on stream

p>Refineries subsidiary to PetroChina are estimated to process a combined 357,933mt of crude a day in September, sharply up 10.02% from the previous month, a survey showed. The notable rise could be mainly attributable to official operations of PetroChina's 10-mil-mt/yr Qinzhou ...

China's Aug crude imports rise 10% on month to 20.9-mil mt: GAC

p>China imported 20.9-mil mt of crude in August, up 10% from the previous month, up 13.16% compared to the same period last year, according to data released by the General Administration of Customs. The volume was 6% higher than the average monthly imports in the first eight ...

China cuts petroleum product imports by 7.91% on month in Aug: GAC

p>China imported 2.56-mil mt of petroleum products in August, down 7.91% from July, according to the latest data from the General Administration of Customs. After international crude retreated, most market players worried about price drops in the near future and some of them ...

China: Sinopec to raise daily crude throughput by 2% in Sep

p>Refineries affiliated to Sinopec are expected to refine 16.5-17-mil mt of crude in September, with daily throughput at about 560,000mt, up 2.09% from the previous month, a survey showed. The small rise is mostly because Yangzi Petrochemical and Qingjiang Petrochemical are ...

Asia: Nautilus Hyosung to Shut down 30kt/y PTMEG Plant in Jiaxing, Zhejiang Province in Mid-Sept

p>Nautilus Hyosung s subsidiary in China planned to shut down its 30kt/y PTMEG facility in Jiaxing, Zhenjiang Province for half-month maintenance in mid-Sept as local government reinforced measures of electricity control. The facility was predicted to resume production in ...

China: Shenma Industrial Nylon 66 Salt Project Under Commissioning

p>Shenma Industrial s newly-built nylon 66 salt project is under commissioning for the moment, people from the company said these days. The project, which is due to put on stream at end of Sep or early Oct, will add capacity of the company to 300kt/y. Being the single nylon 66 ...

China: From manufacturing hub to clean-tech hub

Offshore wind power is gaining ground in China. Chinese energy companies are expected to submit bids Friday for four offshore wind power projects with a total installed capacity of 1,000 megawatts, representing a combined investment of $3.06 billion, China Daily reports. The ...
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