Chemical News
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Sinopec Engineering sees profits rise sharply Aug 22,2013
Sinopec Engineering Group Co Ltd saw annual profit growth of 10.8 percent during the first half of the year to 2.21 billion yuan ($361 million), a statement from the company said. The group saw revenue of 19.65 billion yuan from January to June, up 16.3 percent year-on-year. The value of new contracts came to 45 billion yuan in the first hal...>>>
CNOOC net profit rises 7.9% in first half Aug 22,2013
BEIJING, Aug. 20 (Xinhua) -- Net profit at China National Offshore Oil Corp. (CNOOC) rose 7.9 percent in the first half of 2013, the company said Tuesday. Net profit hit 34.4 billion yuan (5.6 billion U.S. dollars) in the first half and sales revenue grew 15.8 percent to 110.8 billion yuan, the country's largest offshore oil producer said in a s...>>>
British oil & gas industry to see record investment in 2013 on output falls, report Aug 22,2013
LONDON, Aug. 21 (Xinhua) -- Total investment in Britain's' oil and gas industry is expected to reach 13.5 billion pounds (about 21 billion US dollars) this year, hitting an all-time high, said the industry group Oil & Gas UK in its annual economic report issued on Wednesday. The group, representing the offshore operators in British waters, descr...>>>
UK oil, gas production slump set to continue as outages weigh Aug 22,2013
The UK's oil producers group Oil & Gas UK cut Wednesday its forecasts for oil and gas production this year amid signs that declining output from mature fields and outages in the North Sea continue to outpace the impact of new projects and rising investment. The UK's oil and gas production is expected to contract by up to 22% this year to between...>>>
Green growth Aug 22,2013
President Xi Jinping's visit to a recycling company Monday drew renewed attention to environmentally friendly industries. Xi said recycling is a sunrise industry and that garbage is a misplaced resource, during his visit Monday to a branch of recycling company Shenzhen GEM High-Tech Co in Wuhan, Central China's Hubei Province. The stock pri...>>>
Falling Japanese naphtha premium to NWE closes arbitrage: traders Aug 21,2013
The premium of front-month naphtha CFR Japan cargo to CIF Northwest Europe cargoes -- the east/west -- has fallen to $11/mt down $13/mt over the last six weeks, putting pressure on the arbitrage from Europe to Asia, market sources said Tuesday. "You would imagine that the arbitrage is completely shut," a European naphtha trader said. The fron...>>>
August US paraxylene CP settles 2.5 cents higher at 73.5 cents/lb: market sources Aug 21,2013
The August US paraxylene contract price settled at 73.5 cents/lb ($1,620.38/mt), an increase of 2.5 cents from July's contract price, sources said Tuesday. The settlement is in line with most market expectations for an increase, because of an upward trend in US PX spot pricing, which in turn is driven by higher Asian PX prices, sources said. ...>>>
China's domestic thermal coal prices are bottoming: UOBKayHian Aug 21,2013
China's domestic thermal prices are bottoming due to increased coal demand and transactions, while local producers like China Coal and Shenhua are not expected to cut production, an analysts' report from UOBKayHian said Tuesday. The report also said that in January-July, China's total coal production fell 3.5% year on year to 2.1 billion mt. Chi...>>>
Uranium spot price falters after rumored deal falls through: sources Aug 21,2013
An early-August rally in the uranium spot price ended after the market learned that a potential deal with an investment fund for up to 1 million pounds of U308 will not close anytime soon, if at all, price publishers and market sources said. Since the, the price has steadily weakened. Price publishers TradeTech and Ux Consulting both lowered the...>>>
Fukushima plant leaks 300 tons of radioactive water Aug 21,2013
An estimated 300 metric tons of highly radioactive water is believed to have leaked from one of the hundreds of storage tanks at Japan's tsunami-crippled nuclear power plant, the operator said on Tuesday as it battled the latest toxic water threat. Tokyo Electric Power Company said the leak was believed to be continuing on Tuesday at Fukushima. ...>>>
U.S. energy plan not to dent Gulf oil production: report Aug 21,2013
DUBAI, Aug. 19 (Xinhua) -- The Unites States' plan to cut reliance on oil imports will not affect the oil production in the Gulf countries as Asia's demand for Middle East oil is rising, said a report released Monday by research firm Orient Planet. Recent major developments in the global oil space, particularly in the Americas, "will not signifi...>>>
Merger hiccup, refinery issues help boost US Gulf Coast jet fuel Aug 21,2013
US Gulf Coast jet fuel reached its highest level since April 2 on Tuesday, continuing a run-up on factors including reaction to a federal lawsuit seeking to block a merger of American Airlines and US Airways. Platts assessed Gulf Coast jet fuel pipeline at NYMEX September ULSD futures minus 6.15 cents/gal, a rise of 20 points compared with Monda...>>>
100 Spot Commodities Price Chart - 20/08/2013 Aug 21,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,15 commodities increased in prices, 29 fell and 56 remained unchanged on 20/08/2013.The largest rises were Dysprosium oxide (8.70%),Sulfur (3.58%),Soybean meal (1.81%),while the larges...>>>
Opposing trends in China, US crude imports to impact cost, trade flows: WoodMac Aug 21,2013
China is expected to surpass the US as the world's largest oil importer by 2017, and the opposing trend of growing crude oil imports by China and falling imports by the US will affect inter-regional trade flows and the cost to both countries, consultants Wood Mackenzie said Tuesday. According to WoodMac's estimates, China will need to spend $500...>>>
Woodside to recommend Shell's floating LNG to Browse JV partners Aug 20,2013
Woodside Petroleum will recommend Shell's floating LNG technology to its joint venture partners as the best option to develop the Browse project off Western Australia, the company said in a statement Tuesday. "The selection of FLNG as the development concept requires the approval of the Browse joint venture participants before progressing throug...>>>
Oil prices retreat on profit-taking Aug 20,2013
NEW YORK, Aug. 19 (Xinhua) -- Oil prices dropped on profit- taking Monday after gains for six trading days on concerns that the unrest in Egypt could disrupt oil supplies. Although Egypt is not a major oil producer, it controls the Suez Canal and the Suez-Mediterranean Pipeline, through which a large amount of crude and refined products were shi...>>>
China Geological Exploration to list mining assets on SGX via RTO Aug 20,2013
SINGAPORE, Aug. 19 (Xinhua) -- China Geological Exploration Holdings (CGE) is planning to list some of its mining assets via a reverse take-over (RTO) of Singapore Exchange (SGX)-listed China Mining International (China Mining), the CGE said on Monday. The CGE is a company ultimately owned by the Geo-exploration and Mineral Development Bureau of...>>>
US EPA to issue new toxic emissions standards for oil refineries Aug 20,2013
The US Environmental Protection Agency will update its almost two-decades-old toxic emissions standards for oil refineries and finalize new regulations by December 19, 2014, to settle a lawsuit brought by environmental and public health groups. The EPA would propose new standards by February 14, before finalizing them 10 months later, in s...>>>
China's coal output, sales decline Aug 20,2013
BEIJING, Aug. 19 (Xinhua) -- China's coal output and sales both declined in the first seven months of 2013, statistics from the China National Coal Association (CNCA) showed on Monday. The country's coal output in the Jan.-July period stood at 2.13 billion tonnes, down 3.5 percent from the same period last year, while sales decreased 3.9 percen...>>>
Iran vows to restore its share in oil market: minister Aug 20,2013
TEHRAN, Aug. 19 (Xinhua) -- One of the priorities of Iran's Oil Ministry is to restore the country's "lost" share in oil market, local media quoted Iranian Oil Minister Bijan Namdar-Zanganeh as saying on Monday. Namdar-Zanganeh, who was endorsed as new oil minister by the parliament on Thursday, said his short-term plan included the return of Ir...>>>