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UK's EnCore seeks Esmond offshore gas storage project investment

UK independent EnCore Oil is hoping to find investors for its UK North Sea Esmond gas storage project, the company said Tuesday. It has engaged investment bank Jefferies to market the project, and the work is "ongoing," EnCore said in a financial results statement. "The marketing ...

China: Hebei group hikes August reference met coke prices by Yuan 50/mt

Hebei Coking Industry Association has raised its reference metallurgical coke prices by Yuan 50/mt ($7.40/mt) for August deliveries compared with July's levels for July, it said in a statement Tuesday. The statement did not give specific prices for August deliveries. But an HBCIA ...

China: N. China's Tianjin port ships out 175,000mt of oil products in Jul, down 6% on month

A combined 175,000mt of gasoline and gasoil were transported southwards from Tianjin port in North China in July, down 6% from the previous month, according to a port source. The volume of gasoline was 76,000mt, slightly down 1% on month, and gasoil declined 10% to 99,000mt, the ...

US oil and gas M&A activity highest in Q2 2010 since Q3 2008: PwC

Merger and acquisition activity in the US oil and gas sector reached its highest level in more than a year and a half during the second quarter, according to a report issued Wednesday by PricewaterhouseCoopers. With improved credit markets and buyer-seller expectations finally ...

Australia's NWS LNG tenders to sell mid Sept cargo, bids due Tues

Australia's North West Shelf LNG Wednesday launched a tender to sell a mid-September loading cargo, several market sources said. Bids are due by the following Tuesday, they added. The project's last tender was launched mid-June, for a July 19 loading cargo. At that time, market ...

America: No US Senate oil spill vote before recess, Reid says

US Senate Majority Leader Harry Reid said Tuesday he would not hold votes before the chamber's August recess on dueling energy proposals to address offshore drilling. The Nevada Democrat had planned to hold test votes Wednesday on a bill of his own and a Republican alternative -- ...

Philippine refiner Petron wins court battle with government over tax

The Philippines government has lost its decade-long battle over tax dues with Petron Corp., the country's largest refiner, local media reported Wednesday. At stake was some Pesos 580 million ($12.75 million) in excise tax that the government claimed Petron owed. But the Supreme ...

DME sets new record high for physical Oman crude delivery in July

The Dubai Mercantile Exchange said Wednesday it set a new record last month for the physical delivery of Oman crude cargoes in September at 15.1million barrels, surpassing the previous high of 14.1 million barrels in June. This would equate to 30 cargoes of 500,000 barrels each. ...

China's electricity rationing curbs petchem operations, demand

Ongoing electricity rationing in East and mid-China's provinces, on the back of record high consumption levels, have resulted in operation cutbacks at downstream factories and reduced demand for petrochemicals, industry sources said this week. According to a statement released by ...

Former Joliet chemical workers still waiting to be paid after exposure to high levels of radiation

Four years ago, then-U.S. Sen. Barack Obama called them "veterans of the Cold War" and pledged to help them receive compensation. But today, many former workers at Blockson Chemical Co. in Joliet and their survivors still have not been paid from a fund created in 2000 to make ...

BayOne Urethane Systems Develops Renewable Resource HR Flexible Foam for Molding Applications

Recognizing market interest in products containing renewable resource content, BayOne Urethane Systems LLC, a joint venture between Bayer MaterialScience LLC and PolyOne, has followed up on its successful Bayfit 500 flexible foam with the introduction of Bayfit natural oil polyol ...

iChemLabs and RSC ChemSpider Announce Partnership

iChemLabs, the developer of the popular ChemDoodle chemical drawing program, and Royal Society of Chemistry's ChemSpider, a leading provider of chemical services and data on the internet, are excited to announce a software agreement that will provide significant benefits to ...

August US propylene contracts appear set to climb 2 cents/lb

August US propylene contracts appeared set to rise as sources this week reported a possible settlement of plus 2 cents/lb. One seller reported initial settlements with two buyers at plus two cents while another buyer concurred that a two cents increase was likely. If sellers are ...

China: Factors Impacted on PP Market Prices

Followed by several month of fall, China polypropylene (PP) market rebounded over CNY10,500/tonne since in July. Distributors regained confidence, and expected an upturn market. However, the fast climbing prices were caused by re-sellers speculation, instead of stronger demand ...

China: Yunnan Yunwei's DMF Facility to Start Commissioning in end-August

According to relevant people from Yunnan Yunwei Co., Ltd., the company s 100kt/y DMF facility would carry out commissioning and test run at the end of August. The company is specialized in a variety of chemical products with annual capacities of 85,000 tons for Calcium Carbide, ...

China: S. China commercial fuel oil inventory stable at 1.65-mil mt

Commercial fuel oil inventories of major oil terminals in South China totaled 1.64-1.66-mil mt up till Aug 4, flat with week ago, while 59% higher than the same period last year, a survey found. The volume accounted for 63% of the total storage capacity of the terminals. About 30...

China: Shandong independents' gasoil inventories drop notably over better sales

Shandong-based independent refineries' gasoil stockpiles declined obviously in the second half of July as their sales improved, C1 found. The 12 refineries surveyed by C1 held about 206,000mt of gasoil inventories on Jul 30, notably down 29,000mt or 12.34% from the middle of July...

China: PetroChina raises gasoil inner settlement prices

PetroChina elevated Wednesday inner settlement prices of gasoil between regional marketing companies and provincial sales branches, by Yuan 100/mt for the sales branches in outside provinces and Yuan 50/mt for those inside, according to a company source. The increases would ...

China: Gasoil wholesale prices climb over rising international crude, tight supply

Domestic gasoil wholesale prices have been rising this week due to continuous rises in international crude prices, also thanks to tight supply and slightly stronger demand. As Brent crude gained from US$78.68/bbl on Jul 30 to US$83.84/bbl on Aug 3, the average gasoil wholesale ...

China: PetroChina Kunlun Gas buys LPG distributors in Beijing: informed source

PetroChina's LPG wholesale company Kunlun Gas has recently purchased a few LPG distributors in Beijing, an informed source said without giving more details. The move may mark the company has formally stepped into LPG retail market in North China, market sources reckoned. It would ...
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