Chemical News
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PetroChina lines up $60b to boost overseas oil, gas output May 24,2010
BEIJING - PetroChina Co, the nation's largest oil and gas producer, will invest $60 billion to increase its overseas oil and gas output to 200 million tons every year, Chairman Jiang Jiemin said on Thursday. Jiang told reporters that the company's overseas oil and gas cooperation areas would be focused on Central Asia, the Middle East, Africa, ...>>>
Datang Int'l Power invests 576 mln USD in mainland's gas project May 31,2010
HONG KONG, May 25 (Xinhua) -- Datang International Power, the Hong Kong-listed unit of the State-owned power generator China Datang, has said it would invest 3.93 billion yuan (576 million U. S. dollars) to set up a joint venture for a coal-based gas project in North China's coal-rich Inner Mongolia. In a statement filed to the Hong Kong stock e...>>>
Datang International Power invests US$576m in mainland's gas project May 31,2010
HONG KONG - Datang International Power, the Hong Kong-listed unit of the State-owned power generator China Datang, has said it would invest 3.93 billion yuan ($576 million) to set up a joint venture for a coal-based gas project in North China's coal-rich Inner Mongolia. In a statement filed to the Hong Kong stock exchange on Monday night, Datang...>>>
Report: Trans fat limits lead to healthier foods May 31,2010
LOS ANGELES – Holy fish sticks! Scientists finally have some good news about fat in our foods. Contrary to fears, most food manufacturers and restaurants did not just swap one bad ingredient for another when they trimmed artery-clogging trans fats from products and menus, an analysis finds. Even the french fry, a longtime dietary scourge, got...>>>
Tainted milk case referred to mainland May 31,2010
HONG KONG - A Hong Kong judge on Thursday rejected a lawsuit and claims for compensation by the parents of four mainland children, who were among thousands who fell ill two years ago after consuming tainted milk powder. Hong Kong's Small Claims Tribunal adjudicator Ada Yim ruled that the case should be handled by mainland courts, since the plain...>>>
Putting sustainability at the heart of business May 31,2010
Henkel, a German adhesives, cosmetics and detergents company, is focusing on business innovation and an integrated strategy for sustainable development. "For us, innovation is the primary growth driver for Henkel China. As one of the most innovative companies in its markets, more than one third of our sales volume is generated by products that ...>>>
Farmers slowly cultivate a new image May 31,2010
BEIJING - Vehicles of all shapes and sizes jockey for position under the early morning sun, their drivers honking their presence in a cacophony of apparent chaos. Plump red tomatoes, lurid green cabbages and slender sticks of celery are just some of the produce being loaded and unloaded from the jam of carts, trailers and the backs of lorries. T...>>>
Dow Corning to Invest in Silicone Materials for Solar Energy Jun 02,2010
Dow Corning has announced that it will invest up to $13 million (USD) to expand its European capabilities to innovate with silicon-based materials and technologies. The investment in a Solar Energy Exploration / Development Center (SEED) includes two new buildings that will complement the company's Business & Technology Center in Seneffe, Belgi...>>>
Eastman Chemical, Alcoa, CalPortland, Lufkin, Raytheon Join DOE’s Save Energy Now Initiative Jun 02,2010
Eastman Chemical Company has joined the U.S. Department of Energy’s Save Energy Now initiative, pledging to reduce energy intensity 25 percent over a 10-year period. Eastman joins four other companies — Alcoa, CalPortland, Lufkin Industries and Raytheon – in pledging to improve their energy efficiency as Save Energy Now Leaders. Companies that m...>>>
PetroChina to earn $2.7b from gas price hike Jun 02,2010
PetroChina Co, the country's biggest oil and gas producer, with an 80 percent share of the domestic natural gas market, was expected to earn over 18.4 billion yuan ($2.70 billion) as the prices of natural gas climbed up 25 percent Tuesday, according to media reports. China increased the wholesale prices of natural gas by around 25 percent Tuesda...>>>
Bock Named Next Chairman of BASF Jun 02,2010
BASF has appointed Kurt Bock to succeed Jürgen Hambrecht as chief executive and chairman of the company's board of executive directors. Martin Brudermüller will become vice chairman. Both appointments take effect following BASF's annual meeting on May 6, 2011. “Kurt Bock is an entrepreneur with an extensive international experience," says Egge...>>>
China Starts Trial of New Energy Car Subsidies in 5 Cities Jun 03,2010
June 2, China will grant subsidies of up to RMB 60,000 for plug-in hybrids and pure electric cars and will run a trial scheme in five cities, the Ministry of Finance said Tuesday in a statement on its website.The trials will run in Shanghai, Changchun, Shenzhen, Hangzhou and Hefei before the subsidies are rolled out nationwide.Acco...>>>
FECC Elects Edgar E. Nordmann as New President Jun 03,2010
At their annual general assembly meeting, members of the European Association of Chemical Distributors (FECC) unanimously elected Edgar E. Nordmann, chairman of the board of Nordmann, Rassmann (NRC), as its new president.Nordmann succeeds Mauro Di Vito, managing director of Warwick Italy; Italian subsidiary of Warwick International Group,...>>>
US ethylene for May drops 7.75 cents/lb on spot pressure Jun 03,2010
HOUSTON (ICIS news)--US ethylene contracts for May settled on Wednesday at a drop of 7.75 cents/lb ($171/tonne, ?40/tonne), falling by 15% from April due to continued pressure from the spot market. The settlement put May ethylene at 44.75 cents/lb, according to ICIS pricing. The reduction stemmed from a slump in spot prices, a market particip...>>>
Sinopec Starts Expansion of Shijiazhuang Refinery Jun 03,2010
June 1, China Petroleum and Chemical Corporation (Sinopec, 600028.SH, 0386.HK, NYSE:SNP), China's largest oil refiner, said Tuesday on its website that it started work on the oil quality upgrade and expansion project at its Shijiazhuang oil refinery plant on Saturday.The company said the project involves a total investment of some RMB 6.3...>>>
PX Price In Asian Market Jun 03,2010
PX: Fell $13 Wednesday to close at $884.50/mt FOB Korea and $902.50/mt CFR Taiwan/China. There were no participants during the Platts Market on Close assessment process and activity was limited as South Korea was closed for a public holiday.Market sentiments improved slightly over the day as sellers withheld offers.A July bid was r...>>>
Asia tyre makers shun Q3 SBR contract, prefer spot buying Jun 03,2010
SINGAPORE (ICIS news)--Tyre producers in Asia will turn to more spot buying in the third quarter as they expect styrene butadiene rubber (SBR) prices to weaken on concerns over a slowing Chinese economy and falling feedstock butadiene (BD) values, market players said on Wednesday. Most small and medium-sized tyre pro...>>>
FECC Congress: Industry Recovery is Slow in Spain Jun 03,2010
Chemical production in Spain is expected to be broadly flat in 2010 compared with 2009 as the industry struggles to cope with the effects of the global economic and financial crisis and continued uncertainty and volatility in the euro zone, says Fernando Iturrieta, president of Spanish chemical industry association Feique (Madrid) and CEO of p...>>>
ChemNet grandly launch China Chemical Weekly Jun 03,2010
Recently China Chemnet grandly launched another platform–China Chemical Weekly. This weekly can help everybody enlarge the communication with the industry. The content of the weekly covers mainstream products weekly hot news, market dynamics, representative product weekly price trend chart, chosed product weekly comments and forecasts in t...>>>
Shougang Steel may ink Tonggang deal this month Jun 04,2010
BEIJING - Shougang Steel Group is likely to acquire a majority stake in Jilin-based steelmaker Tonghua Iron & Steel Group (Tonggang) this month, according to a Tonggang official. The restructuring deal will bolster cash-strapped Tonggang, the official said. "Shougang President Zhu Jinmin re...>>>
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