Chemical News
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Philippines' Roxhol delays commercial startup of ethanol plant to Aug Jul 20,2011
The Philippines' Roxhol Bioenergy is aiming to start commercial operations at its 100,000 liter/day ethanol plant in Negros Occidental province in August, delayed from its earlier target date of July 1, a company source said Thursday. Roxhol's plant, which uses molasses as a feedstock, started trial runs in late 2010 and early this year, and is ...>>>
US PET costs to head higher in August, resin hikes expected Jul 20,2011
US PET costs were expected to increase in August with PET resin prices also expected to increase, industry sources said. "We don't have a (bottle resin) increase yet but we're aware of the situation," a producer said. The situation was a potential loss of margin if no increase is announced for August. PET producers typically issue price ...>>>
Industry gets only one seat on Maryland shale drilling panel Jul 20,2011
The oil and natural gas industry will only get one seat on a 14-member commission appointed by Maryland's Democratic governor to develop recommendations on safe shale drilling in the state's western panhandle, which touches the Marcellus Shale. According to Governor Martin O'Malley's Tuesday announcement of the commission's members, the oil and ...>>>
ANALYSIS: Costs rise, new announcements stall for global energy projects Jul 20,2011
The number of new energy projects around the world announced in the second quarter of 2011 was relatively static, according to the EIC Monitor, a trade association for UK companies supplying the energy industry worldwide. The data was released late Monday. Only the power sector demonstrated growth in new project announcements, which were up 13% ...>>>
US oil companies with Libya assets to stay on sidelines: analysts Jul 20,2011
Despite developments that seem encouraging for anti-Qadhafi rebel forces in Libya, the waiting game will likely continue for US oil companies, companies and market observers said Tuesday. Asked when US companies might start returning personnel and restarting their Libya operations, Oppenheimer analyst Fadel Gheit said in an e-mail: "I would say ...>>>
Germany says second IEA oil stock release highly unlikely Jul 20,2011
The International Energy Agency is almost certain not to release more oil stocks onto the market, an official at Germany's state-owned National Petroleum Stockpiling Agency (EBV) said Tuesday. Eberhard Pott, EBV board director, said he had been told by the German government that a second release would not take place. "The word from Berlin is ...>>>
China, Iraq to boost trade ties, joint oil exploration efforts: report Jul 20,2011
China and Iraq have pledged to boost trade ties and step up cooperation in oil exploration, power generation and other fields, China state media has reported. The countries signed two agreements on economic cooperation and training during a visit to Beijing by Iraqi Prime Minister Nurial-Maliki, the first Iraqi PM to visit China in over 50 years...>>>
China's Jun fuel oil output down 4.41% on month to 1.5-mil mt: NBS Jul 20,2011
China produced 1.5-mil mt of fuel oil in June, down 4.41% from the previous month, up 5% from a year earlier, according to data released by the National Bureau of Statistics. The on-month decline could be attributable to lower crude throughput of major refineries and soft fuel oil blending market, market sources denoted. China's fuel oil yiel...>>>
Salable gasoil inventories of PetroChina, Sinopec build further on completion of summer harvesting Jul 20,2011
Gasoil inventories of sales branches under PetroChina and Sinopec totaled 2.84-mil mt in 13 major grain-producing areas as of Jul 10, sharply up 26.4% from a year earlier, according to latest data released by the National Development & Reform Commission. The inventories of both gasoil and gasoline amounted to 4.88-mil mt, swelling 20.6% year-on-...>>>
China's crude throughput drops for first time this year in Jun: NBS Jul 20,2011
China's crude throughput aggregated 35.56-mil mt in June, slightly down 0.7% from the same period last year, the first fall in 2010, data published by the National Bureau of Statistics showed. Major refineries went into maintenance peak period in June. In Northeast China, crude throughput dropped 4.57% year-on-year on the shut-down of 19-mil-mt/...>>>
Asia BD at record high; buyers to resist further price gains Jul 19,2011
SINGAPORE-Butadiene (BD) spot prices in Asia may have peaked at an all-time high of $4,300/tonne (€3,053/tonne) as downstream synthetic rubber makers vow to resist a further increase in raw material values, industry sources said on Tuesday. BD surged to $4,250-4,300/tonne CFR (cost & freight) NE (northeast) Asia on 15 July, the highest on r...>>>
Americas:George Soros: 'We are on the verge of an economic collapse' Jul 19,2011
Gold is mixed today after last week's 2.4% fall. The short term trend remains negative but medium and long fundamentals remain supportive as do the very challenging and risky macro, sovereign debt and currency environment. Physical buying remains strong at the $1500 level with premiums for Gold bullion bars higher in Singapore and Hong Kong. ...>>>
Middle East:Palm oil offers lucrative returns Jul 19,2011
The use of palm fruit to extract edible and usable oil has been practiced across continents for centuries, and it remains one of the primary export commodities for Malaysia. Malaysia has been a big part player in the palm oil industry, with an estimated 5% of global productions as of 2006. Malaysia produced 17.7 million tonnes of palm oil in 2008 a...>>>
Middle East:Palm oil offers lucrative returns Jul 19,2011
The use of palm fruit to extract edible and usable oil has been practiced across continents for centuries, and it remains one of the primary export commodities for Malaysia. Malaysia has been a big part player in the palm oil industry, with an estimated 5% of global productions as of 2006. Malaysia produced 17.7 million tonnes of palm oil in 2008 a...>>>
Americas:Barclays: Brazilian soybean exports may come down Jul 19,2011
Brazil is the world's second largest producer of soybeans after the US, and its production and exports account for close to 30% of the global market. Domestic consumption of soy products has been on a strong growth trend over the past decade sparked by rising per capita meat consumption and biodiesel production. Total meat consumption per capita (p...>>>
South Korea's June PVC exports rise 5% on month on strong India demand Jul 19,2011
South Korea's PVC exports in June rose 5.3% month on month to 49,664 mt, customs data released last Friday showed. The country's PVC exports to India were 14,007 mt in June, up 67.1% from 8,382 mt in May. India's PVC demand was strong in June in order to build inventories ahead of the monsoon season which is usually over July to September. South Ko...>>>
Asia:High food inflation costs Indian households Rs 5.88 trillion Jul 19,2011
Although India's food inflation eased to 7.78 percent for the week ended June 18, a study by leading independent researcher CRISIL said recent surges in inflation rates cost Indian households an additional Rs 5.8 trillion during 2008-09 to 2010-11. The study shows that growth of private consumption expenditure in nominal terms increased to ...>>>
Asia:Malaysia palm oil exports hit 3 yr high in June Jul 19,2011
Malaysia's palm oil exports hit a three year high in June as its inventory dropped by some 80,000 tons. According to official data, Malaysian palm oil exports to their highest since 2008 showed signs of tailing off, after preventing the second-ranked producer of the oilseed raising inventories last month as far as had been expected. M...>>>
Asia:Indian rapeseed meal exporters puzzled by malachite green contamination Jul 19,2011
Indian rapeseed meal exporters are puzzled by the presence of malachite green in the commodity exported to China. "Malachite green is a pesticide which is antifungal and usually used in aquaculture. But where rapeseed is produced in Northern India, aqua culture does not exist." said BV Mehta, Executive Director Solvent Extractor's Associatio...>>>
NWE spot naphtha premiums supported by buoyant blending demand Jul 19,2011
Spot naphtha premiums in Northwest Europe firmed more than $5/mt last week, supported by a dearth of prompt cargoes stemming from recent demand into the gasoline blending pool, sources said Monday. The premium for spot naphtha cargoes CIF NWE over front-month swaps closed last Friday at $7.75/mt, up from $2.25/mt at the start of the week, accord...>>>