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Chavez: Venezuela will support any additional output cut by OPEC

QUITO -- Venezuela will support any additional OPEC production cut to stabilize crude oil prices, visiting Venezuelan President Hugo Chavez said here Tuesday. Chavez made the remarks following a meeting with Ecuadoran President Rafael Correa. "We would agree with new production ...

Researchers find new chemical key that could unlock hundreds of new antibiotics

Chemistry researchers at The University of Warwick and the John Innes Centre, have found a novel signalling molecule that could be a key that will open up hundreds of new antibiotics unlocking them from the DNA of the Streptomyces family of bacteria. With bacterial resistance ...

Exxon, Shell profits soar, but oil dip hits shares

NEW YORK - Exxon Mobil Corp topped its own record for the biggest U.S. quarterly operating profit and Royal Dutch Shell Plc earnings beat market forecasts on Thursday, helped by high oil prices and fatter refinery margins. But both Exxon and Shell said their quarterly oil output ...

Asian crackers struggle with oversupply

SINGAPORE--Asian cracker operators are reeling from the shockwaves of oversupply and plunging spot prices as petrochemical trade slows to a complete standstill in the region, market sources said on Friday. In the space of three months from August to October, spot ethylene and ...

U.S. oil firms say cheaper crude may delay projects

WASHINGTON - The current credit crisis, along with falling crude prices and lower petroleum demand, will result in a review on whether to go forward with some oil projects, executives with two large U.S. oil companies said on Thursday. "We are looking at our plans," said Ryan ...

IOC's three naphtha cargoes go for discounts of US$30/ton and above

Owing to the glut of naphtha in the Asian region, India's state-owned Indian Oil Corp (IOC) has sold three cargoes of 30,000 tons each to Itochu for a heavy discount for November loading. IOC sold one 30,000 ton cargo for Nov. 12-15 loading from Kandla at a discount of US$40, ...

Iraq to pump more oil next year

AMMAN -- Iraq plans to pump more oil next year, an Iraqi official said here Thursday in Jordan's capital of Amman. Iraq is expected to increase its daily oil output by some 200,000 barrels next year as new oil wells will be put into operation, Iraqi Oil Minister Hussain al...

Evonik Initiating Million-Euro Investments in Brazil

Evonik Industries plans to build a new facility for producing the environmentally friendly bleaching and oxidation agent hydrogen peroxide (H 2O 2), which is used primarily in the production of cellulose and paper, at the Triunfo petrochemical complex near Porto Alegre, in ...

Sinopec Q3 net profits plunge 39%

SINGAPORE--State-owned refinery and petrochemical giant, Sinopec, has reported a 39% plunge in its net profit for the third quarter ended 30 September due to rapidly falling chemical prices and squeezed refinery margins, the company said on Thursday. China s largest petrochemical ...

Russian October oil output highest in year

MOSCOW - Russian oil production in October rose to its highest in 2008, to 9.86 million barrels per day (bpd), data supplied by Russia's Energy Ministry showed on Monday. Oil exports from Russia via pipeline monopoly Transneft TRNF_p.RTS stood at 4.21 million bpd, slightly up ...

Crude prices retreat on weak U.S. economic data

NEW YORK -- Crude futures retreated Monday on weak U.S. economic data despite OPEC planned to cut output. The U.S. Institute for Supply Management reported that the manufacturing sector further contracted in October. The manufacturing index came to 38.9 in October, its lowest ...

Marathon says fire out at Texas City refinery

HOUSTON - Marathon Oil Corp said a small pump fire at its 76,000 barrel per day (bpd) Texas City, Texas, refinery was quickly extinguished on Monday night. Marathon spokeswoman Angela Graves said she did not know to which unit the pump was attached or if refinery production would ...

Oil drops near 6 percent on slumping demand

NEW YORK - Oil fell nearly 6 percent on Monday as further indicators of falling demand linked to a potential recession offset OPEC plans to reign in output. U.S. crude settled down $3.90 at $63.91 a barrel, after October saw the steepest monthly price decline ever for oil as ...

UAE keeps OPEC pledge to cut oil supply

ABU DHABI - The United Arab Emirates has kept its pledge to cut oil supplies in line with its OPEC commitments, Oil Minister Mohammed al-Hamli said on Monday. He said that while the global financial crisis had a big impact on the oil industry it was important for the Middle East ...

Searching for primordial antimatter

03 Nov 2008 - Scientists are on the hunt for evidence of antimatter - matter's arch nemesis left over from the very early Universe. New results using data from NASA's Chandra X-ray Observatory and Compton Gamma Ray Observatory suggest the search may have just become even more ...

SQM Initiates Bond Registration Process

Sociedad Quimica y Minera de Chile S.A. (SQM) announced that its Board of Directors, at its meeting held October 28, 2008, approved the registration of a bond program. The Board approved a maximum issuance amount under the program of UF 5 million (1) (approximately US $160 ...

South Korea's commodity buyers facing treble whammy

SEOUL - South Korea's grain, metal and oil importers are struggling to keep commodities flowing into Asia's fourth-largest economy as they face a constricted global credit market, a domestic dollar squeeze and tumbling won revenues. Reeling from that potent treble whammy, raw ...

Oil prices slide on mounting economic woes

BEIJING -- Oil prices tumbled below 66 U.S. dollars a barrel Wednesday as investors shifted their concern again to a gloomy global economic outlook and its potential impact on energy demand. On the New York Mercantile Exchange, light sweet crude for December delivery dropped 5.23 ...

Will oil prices sink to US$50 a barrel as global recession sets in next year?

Weakening demand and continuous build up of oil stocks has undone most of the previous price predictions. Merrill Lynch has revised its earlier forecast of US$107/barrel of oil in Q4, to US$78/barrel, adding that a global recession next year could plummet oil prices to US$50 a ...

IEA sees oil above $100, recognizes supply limit

LONDON - The world will have to live with the risk of an energy supply crunch and an oil price well above $100 a barrel in the years to come, the International Energy Agency (IEA) said on Thursday. Massive investment of more than $26 trillion will be needed in the next 20 years ...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

company

Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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