gas

Jul 12th, 2010

Oil Falls Below $76 in Europe as Traders Look to US Company Earnings for Clues on Economy

Oil prices dropped below US$76 a barrel Monday as the dollar strengthened and investors awaited second-quarter company earnings reports for clues about the strength of the U.S. economy. By early afternoon in Europe, benchmark crude for August delivery was down 46 cents to $75.63 a barrel in electronic trading on the New York Mercantile Exchange. The...

Apr 15th, 2010

Europe Products-Gasoline, Diesel Up on Tighter Stocks

LONDON - Gasoline and diesel rose in Europe on Thursday, supported by gains in Brent and tightening stocks of the motor fuels. But ICE gas oil futures came under pressure, with a strong rally in Brent and limited demand as Europe emerges from winter pushing its crack lower for the seventh straight day. GASOLINE AND...

Mar 24th, 2010

Europe Agrees to Funding for Motor Biofuel

BRUSSELS, (UPI) — The European Commission announced Wednesday in Brussels that it approved French contributions totaling $25.5 million to fund the development of motor biofuels. The commission said it supported an effort by French energy giant GDF Suez to develop technology needed for second-generation biofuels. Second-generation biofuels are expected to produce more energy with less impact on...

Jan 25th, 2010

Gas Prices Retreat in Philadelphia Area

Gas prices retreated a bit over the weekend, but are still almost a buck a gallon more than we were paying a year ago, according to AAA Mid-Atlantic. The average for a gallon of regular no-lead was down 1 cent from Friday in the five-county Philadelphia area, to $2.81, and down 2 cents, to $2.59, in...

Jul 16th, 2009

China Assoc Wants Government To Limit Shell Coal Tech Buys

SHANGHAI -(Dow Jones)- The China Petroleum and Chemical Industry Association has asked the central government to limit the purchases of Royal Dutch Shell PLC’s (RDSA) “still immature” coal gasification technology, the CPCIA-run National Petroleum and Chemical Net said on its Web site Wednesday. Of the 23 units in China using Shell’s coal gasification, only half are...

Jul 15th, 2009

Korea Becoming More Energy-Efficient

Korea’s economic growth is outpacing the increase in energy consumption. The Korea Energy Economics Institute on Tuesday said energy consumption increased 2.7 percent a year on average from 2005 to 2007 while GDP grew 4.8 percent, indicating that Korea is gradually reducing power use. According to a 2005 report, energy consumption rose 3.4 percent. By...

Jul 10th, 2009

Cinpres Gas Injection Extends Network in Asia

Cinpres Gas Injection (CGI), developer of various assisted injection moulding (AIM) processes, has extended its growing network in Asia. The Company has appointed Plastic Solution Co Ltd as its agent in Thailand. The Bangkok-based company has strong technical support capability and a background in selling injection molding and ancillary equipment from ‘high end’ manufacturers. The...

Jul 9th, 2009

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL Bleak unemployment figures from USA and Europe have sunk oil prices to US$66/barrel. Weak jobs figures suggest tepid consumption that will dampen crude demand. A Labor Department report indicated 467,000 jobs were lost in June - a larger than expected drop that has pushed up unemployment rate to 9.5% at 26 year highs. Unemployment...

Jun 29th, 2009

China’s Monthly Toluene Imports in H1 2009 Up on Gasoline Demand

Toluene imports into China in the first half of the year tripled to 60,000-70,000 mt/month compared with average 2008 monthly imports, on higher demand for gasoline blending, industry participants, at the 2009 China Aromatics Market Conference, said last week. Imports also surged on falling local Chinese production. Toluene output fell 45,000 mt/month in H1 2009 compared...

Jun 25th, 2009

South Korea to Double LNG, LPG Import Tariffs to 2% in July

South Korea’s finance ministry said Tuesday it would double tariffs on LNG and LPG imports from July as part of efforts to boost tax revenues for expanded fiscal spending to bolster the slumping economy. Tariffs imposed on LNG will increase to 2% from the current 1%, beginning July 1, the Ministry of Strategy and Finance said....

Jun 24th, 2009

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL Crude oil prices dipped by over a dollar to US$71 per barrel in the week of June 22, 2009. Weak fuel demand despite data indicating a recovery in the global economy has kept crude oil pegged at US$71 per barrel. This marks a stop to four consecutive weeks of oil price hike. The weakening...

Jun 24th, 2009

Japan’s JGC Awarded Contract for Feasibility Study for Petro Rabigh Complex

Japan’s JGC Corporation has been awarded a project to conduct a feasibility study for expansion of the refinery and chemicals complex in Rabigh by Saudi Aramco and Sumitomo Chemicals. The study for expansion of the US$10 bln (SAR 37.5 mln) Rabigh Refining and Petrochemical Company (Petro Rabigh) is to be concluded by Q3-2010. Investment outlay...

Jun 23rd, 2009

China Extends Gas Safety Campaign to Big Coal Mines

China has extended a safety campaign to address the hidden dangers of coalbed methane from small mines to medium- and large-sized coal mines, the country’s top economic planner said on Tuesday. The fatal gas explosions in Shanxi’s Tunlan mine in February and Chongqing’s Tonghua mine just last month exposed weaknesses in gas treatment and loopholes in...

Jun 22nd, 2009

India Slaps Anti-dump Tax on Polypropylene Sales

India’s commerce ministry are to initiate anti-dumping taxes on polypropylene imports from Saudi Arabia, Oman and Singapore, claiming that they are selling the product at prices lower than production costs in the sub-continent. Indian Reliance Industries and Haldia Petrochemicals filed an application before the Indian commerce and industry ministry for initiation of anti-dumping duty in February....

Jun 4th, 2009

NWE Benzene Prices Threatened by Imminent US and Asian Imports

The Northwest European spot benzene market looked set to weaken through June and July as a combination of US and Asian imports and a relaxation of prompt supply shortages has created a steep June to July backwardation of $30/mt. According to market sources Tuesday morning, bids for June were seen potentially as high as $760/mt for...

Jun 1st, 2009

Asian Toluene Fueled by Strong Energy Complex, Nearing $700/mt

Asian toluene - already at a seven-month high — was near $700/mt Friday as bids kept climbing. July bids rose $5/mt to $675/mt, while August saw a whopping $17 increase from Thursday with bids at $680/mt. Due to strong prices seen in crude oil, gasoline and toluene overnight in the US and Europe, industry sources were...

May 29th, 2009

BPCL Awards Contracts to CB&I for New Ethylene and Polypropylene Plants

Brahmaputra Cracker and Polymer Limited (BPCL) has awarded contracts for the license and basic engineering of two new chemical plants to Lummus Technology, a part of global EPC firm CB&I. BCPL is a joint venture company of GAIL India Ltd., OIL India Ltd., Numaligarh Refinery Ltd. and the Government of Assam. BCPL’s ethylene plant, which...

May 28th, 2009

S Koreans Ready to Forego Propylene Contracts Over Discount Feud

A number of South Korean propylene producers have said they were prepared to continue selling increased quantities of the gas independently in the open market instead of term contract sales, if they cannot agree on a price formula with trading companies. South Korean producers typically base their term contract price formulae on published spot...

May 27th, 2009

South Koreans Ready to Forego Propylene Contracts Over Discount Feud

A number of South Korean propylene producers have said they were prepared to continue selling increased quantities of the gas independently in the open market instead of term contract sales, if they cannot agree on a price formula with trading companies. South Korean producers typically base their term contract price formulae on published spot prices...

May 26th, 2009

New Coke-oven Gas to Methanol Production Line Runs in Shanxi

China’s first set of devices that can produce 300,000 tons of methanol with coke-oven gas annually just completed construction and started operation on May 25, 2009 in Changzhi City, Shanxi Province, the largest coke production base in China. Tianji Coal Chemical Industry Group Co., Ltd., formerly known as Shanxi Chemical Fertilizer Plant, and Shanxi Lu’an Environmental...