Chemical News
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NYMEX January gas settles 15.3 cents lower at $3.648/MMBtu on storage build Nov 30,2012
The NYMEX January natural gas futures contract settled 15.3 cents lower at $3.648/MMBtu Thursday, after weekly figures from the US Energy Information Administration showed an unexpected storage injection. "Two things have pushed the price lower -- moderate weather forecasts for the first half of December and surprise storage build" that reminds ...>>>
Macquarie gas unit floats plan to help Hawaii say 'aloha' to costly oil Nov 30,2012
A small Hawaiian subsidiary of Australian energy and infrastructure company Macquarie said Thursday it wants to use natural gas to slow the stream of oil imported by the US' only island state. Hawaii already has a statewide plan to reduce oil use on the island 70% by 2030. Most of what is currently used is low sulfur residual fuel oil No. 6, con...>>>
China 100 Spot Commodities Price Chart - 28/11/2012 Nov 29,2012
It was assessed by SunSirs that in the tracked 100 spot commodities,17 commodities increased in prices, 26 fell and 57 remained unchanged on 28/11/2012.The largest rises were Soybean meal (1.29%),Nickel (0.90%),Benzene (0.40%),while the largest falls w...>>>
SAC Capital says it could be charged by SEC Nov 29,2012
Cohen and a top SAC executive told investors on a 20-minute conference call on Wednesday that the Securities and Exchange Commission recently had issued a formal warning called a Wells notice to the firm indicating charges are likely, according to two sources, who listened to the call. The move by the SEC comes a week after federal prosecutors a...>>>
China's Indonesia-led bauxite supply fears ease as cargoes return: sources Nov 29,2012
Chinese bauxite supply concerns have eased recently on an ongoing rebound in shipments after having plunged in the summer on the back of export rule changes from major global bauxite producer Indonesia, importing refiners said Wednesday. "Our shipments from Indonesia are returning to normal, about the same as earlier in the year before the new e...>>>
GPCA: Uncertainty prevails on tapping Saudi shale gas reserves for petchems Nov 29,2012
Saudi Aramco is "diligently" exploring shale gas reserves in Saudi Arabia, however uncertainty reigns over whether such reserves could be tapped by petrochemical companies, top officials from the country's petrochemicals industry said Wednesday at Seventh Annual Gulf Petrochemicals and Chemicals Association forum in Dubai. "We know that shale ga...>>>
Oman's Octal halts European PET sales until January: market sources Nov 29,2012
Oman's Octal Petrochemicals has stopped offering polyethylene terephthalate to European consumers for December, market sources said. A PET converter said the producer had contacted buyers to tell them it was postponing availability of PET until January. The producer could not be reached for confirmation. One European PET producer said Octa...>>>
US Senate agrees to reverse ban on military's biofuel buys Nov 29,2012
The US Senate on Wednesday agreed to remove a provision from a defense bill that would have barred the US military from purchasing large amounts of biofuels. The provision, passed by a vote of 62-37, removes an amendment included in the National Defense Authorization Act by the Senate Armed Services Committee in May. That amendment blocked the P...>>>
Australia's FIRB approves Chinese coal producer's plan to invest in CoAL Nov 29,2012
Australia's Foreign Investment Review Board has approved Chinese coal producer Haohua Energy International's plan for a $100 million share placement with ASX-listed Coal of Africa, CoAL said Wednesday. In October, CoAL said it had agreed to the investment by HEI, a subsidiary of China's Beijing Haohua Energy Resources, after South Africa's Exxar...>>>
Argentina more than doubles price of gas produced by YPF at new wells Nov 29,2012
Argentina will allow the price of natural gas produced by state-run YPF at new wells to more than double and will do so for other suppliers as it seeks to revive production. The government has signed "a contract with YPF for which we are going to pay $7.50 for all the new gas" produced by the company, Argentine President Cristina Fernandez de K...>>>
CNOOC, Nexen withdraw, resubmit deal approval application to US government Nov 29,2012
China National Offshore Oil Corp. and Nexen have withdrawn and resubmitted their application for US approval on their $15.1 billion proposed deal, Nexen said late Tuesday. "By mutual agreement with the Committee on Foreign Investment in the United States (CFIUS), CNOOC Limited and Nexen Inc. withdrew and resubmitted a Joint Voluntary Notice with...>>>
ConocoPhillips posts most high bids at US Gulf of Mexico lease sale: BOEM Nov 29,2012
ConocoPhillips captured the highest total number of apparent high bids during Wednesday's US Gulf of Mexico lease sale, but Chevron pledged the most money for blocks, according to statistics supplied by the federal sale sponsor. The bids were submitted during the lease sale in New Orleans and are subject to review by the lease sale sponsor, the ...>>>
Russia's Sistema acquires LPG transporter SG-Trans in $730 mil deal Nov 28,2012
Russian conglomerate Sistema has signed a deal to acquire SG-Trans, the country's biggest independent operator of railcars for transportation of LPG, the company said Tuesday. Sistema will pay a total cash consideration of Rb22.77 billion ($730 million) for 100% of SG-Trans, in a deal which the company hopes to close by the end of this week, it ...>>>
Turkey's Petkim posts second consecutive rise in polymer list prices Nov 28,2012
Turkish petrochemical producer Petkim posted Tuesday a second consecutive increase in its list prices, industry sources said. It followed a similar announcement last week. Low density polyethylene and high density PE film prices were reported at $1,725-1,750/mt FCA Aliaga and $1,720/mt, an increase of $20/mt for both grades. Polyvinyl Chlor...>>>
Russia's river navigation season to end in south in early December Nov 28,2012
The Russian river navigation season is expected to come to an end in the country's southern regions in early December, after an unusually mild spell of weather prolonged transportation there, sources said Tuesday. "It is coming to a close at the beginning of December, pending actual weather conditions," said one source. River navigation was o...>>>
Ineos plans further acrylonitrile output cut in Europe: source Nov 28,2012
Ineos is considering a further cut in production run rates at its acrylonitrile plants in Europe due to declining demand, a company source said Tuesday. Ineos operates a 300,000 mt/year plant in Cologne, Germany and a 280,000 mt/year plant in Seal Sands, northeastern England. The plants are running at only 70% of capacity on average in November,...>>>
Production cuts lead to higher offers in the Northwest European LDPE spot market Nov 28,2012
Spot prices for European low density polyethylene firmed this week, driven by dialed-down operating rates, sources said. "The only firm offer we got so far this week was from Turkey at Eur1,300/mt ($1,682/mt) FCA Aliaga," a trader said. "We were trying to source material at Eur1,255-1,270/mt FD NWE, but most of the producers have declared an ...>>>
IEA chief says oil markets well-supplied, emergency stocks ample Nov 28,2012
Global oil markets are sufficiently supplied, with increased production from North Dakota and Saudi Arabia making up for depressed Iranian exports, Maria van der Hoeven, executive director of the International Energy Agency said Tuesday. Declining global demand is also contributing to the supply situation, she added, speaking at the Carnegie End...>>>
Syria launches air strikes as combat rages in Damascus Nov 28,2012
The latest fighting follows recent battlefield gains by the rebels in their struggle to topple President Bashar al-Assad, but it is far from clear if a strategic breakthrough is likely. More than 90 people were killed on Tuesday, according to the Syrian Observatory for Human Rights, a Britain-based group. Rebels trying to make inroads into th...>>>
Six US senators ask for Justice Department probe into gasoline prices Nov 28,2012
Six US senators Tuesday asked the Justice Department's Oil and Gas Price Fraud Working Group to conduct a "refinery by refinery probe" into spikes in West Coast gasoline prices in May and October. The request, from Democratic senators from California, Washington and Oregon, asks the Justice Department to investigate whether "market manipulation ...>>>