crude oil
Jan 25th, 2011
Biofuels
Overview
From the earliest days of internal-combustion engines, technological visionaries dreamed that engines would run on fuel made from plants. Experiments conducted in the 19th century showed that it was possible, and both Henry Ford and Rudolf Diesel supported the notion. Interest has waxed and waned for decades. These days, it is running high once again,...
Jan 17th, 2011
Crude Oil Falls to $91
The price of crude oil falls today to $ 91 a barrel, as the movements of the Chinese government against the overheating of the economy supply estimates for a reduction in crude demand. In February’s delivery contracts, the price fell to 48 cents to $ 91.06. During the last year, it writes profits of 17%....
Nov 9th, 2010
United States Gas Prices are Flat Now but Increases Are on the Way
United State gas prices have been flat now for over two weeks. This has given some people a lot of hope that maybe gas prices would stay this way for awhile. However, it now seems that rising crude oil prices are likely to result in an increase in fuel costs soon, according to a new...
Nov 8th, 2010
OIL FUTURES: Crude Hits 25-Month High Despite Dollar Strength
SYDNEY (MarketWatch) — Crude-oil futures hit a 25-month high in Asian trading Monday despite the U.S. dollar strengthening against the euro, though it pared those gains after the greenback’s rise became significant.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at $86.96 a barrel at 0609 GMT, up 11...
Jul 13th, 2010
BP Oil Spill: New Cap ‘Successfully Installed’ on Leaking Well
BP to begin tests to close valves on new containment cap in Gulf of Mexico and hopes to temporarily stop oil gushing from wellhead
BP has fitted a larger, tighter-fitting containment cap on the ruptured Gulf of Mexico wellhead that has been gushing with oil since the Deepwater Horizon explosion on 20 April.Crude oil continues to...
Feb 19th, 2010
Oil falls to near $78 on US dollar rally
Oil falls to near $78 in Europe as Fed emergency loans rate hike triggers dollar rally
Pablo Gorondi, Associated Press Writer, On Friday February 19, 2010, 6:56 am EST
Oil prices fell to near $78 a barrel Friday after the U.S. Federal Reserve’s unexpected hike to interest rates for emergency loans to banks boosted the dollar,...
Feb 12th, 2010
Crude oil, gold stay down after U.S. retail sales
NEW YORK — Crude oil and gold futures stayed lower early Friday, after the government reported U.S. retail sales rose a bigger than expected 0.5% in January. Crude oil for March delivery was down $1.26, or 1.7%, at $74.02 a barrel. Gold for April delivery fell 7 cents, or 0.6%, at $1,087.90 an ounce.
Source:...
Jan 25th, 2010
Crude Oil Dips to US$75 Levels
A Wall Street dropped for a third consecutive session, oil prices have fallen to US$74.5 on the Nymex, and to US$72.83 on the ICE Futures exchange in London. Oil prices are weakening amid ongoing concerns about weak energy demand and a third day of selloff in US stock markets.
Thursday’s report by the Energy Information...
Dec 23rd, 2009
Crude Oil Prices Swing Higher
Crude oil prices jumped above $75 per barrel on the New York Mercantile Exchange Wednesday in advance of a weekly U.S. inventory report.
The Organization of Petroleum Exporting Countries meeting in Luanda, Angola, Tuesday left production quotas unchanged, a decision that effects roughly 40 percent of the world’s oil production. Oil ministers at the meeting expressed...
Dec 16th, 2008
Price trends of oil, polymer feedstock and commodity polymers in Asia for t…
CRUDE OIL
Oil prices, that started the week at US$40, spiked as high as US$50 towards end of week. After briefly topping US$50 a barrel, oil prices dipped by almost five dollars on December 15, 2008, despite threats of production cuts from OPEC. After postponing a decision to reduce output earlier this month, OPEC members...
Nov 28th, 2008
Despite hydrocarbon reserves, Central Asian countries have underdeveloped p…
Despite hosting considerable hydrocarbon reserves, many Central Asian countries have relatively underdeveloped petrochemicals industries as per BMI’s latest report. Kazakhstan and Uzbekistan are the two exceptions. Kazakhstan is one of the largest crude oil producers in the world but lacks adequate refining and processing facilities. However, with a number of projects lined up, the future...
Nov 26th, 2008
2009 World Light Olefins Analysis
The massive buildup of ethylene capacity in the Middle East and Asia is progressing at a rapid pace and is sending the industry into another down cycle. From 1995 to 2008, ethylene capacity increased by more than 22 mln metric tons in Asia/Pacific, and by more than 13 mln tons in the Middle East. By...
Nov 26th, 2008
Japanese chemicals and petrochemicals industry currently in a restructuring…
The Japanese chemicals and petrochemicals industry is currently in a restructuring phase as per a report by companiesandmarkets.com. Japanese companies benefit from the proximity of a large market in China. Major chemical companies are now stepping up efforts to reduce their reliance on naphtha as higher crude oil prices have increased the price of this...
Nov 26th, 2008
Price trends of oil, polymer feedstock and commodity polymers in Asia for t…
CRUDE OIL
Crude oil prices dropped below US$50 a markets remained bearish on worries that a recession in the U.S., Europe and Japan will severely reduce global energy consumption. Oil prices ended the week a notch above US$50 triggered by a rally in equity markets in Europe and Asia on news that China may cut...
Nov 25th, 2008
CB&I to market breakthrough methanol-to-olefins technology
Lummus Technology, a CB&I company, and Shaanxi Xin Xing Coal Chemical Science & Technology Development Co., Ltd. (SYN) have signed a cooperative marketing agreement to globally license DMTO methanol-to-olefins technology. This breakthrough technology enables new licensees to produce olefins from methanol, an economical alternative to crude oil-derived feedstocks. It also produces enhanced yields that will...
Nov 18th, 2008
Avantium Introduces Novel Corrosion Assessment Technology
Avantium has introduced a novel technology to measure corrosion. The technology has broad potential in the oil and chemical industry, where corrosive effects of crude oil, oil fractions and chemicals can have devastating effects on pipelines, refineries and chemical plants. Avantium’s novel technology is used to assess the corrosive properties of fluids on metal and...
Nov 10th, 2008
Iran Says OPEC May Meet Before December If Oil Keeps Declining
The Organization of Petroleum Exporting Countries may decide to meet again before its scheduled Dec. 17 gathering in Oran, Algeria, should prices keep sliding, Iran’s oil minister said.
“If this trend continues it is possible for a meeting to take place before December,” Iran’s Gholamhossein Nozari told reporters at a conference in Tehran today.
OPEC...
Oct 20th, 2008
Crude Oil Rises a Second Day as OPEC Prepares to Cut Production
Crude oil rose for a second day on speculation OPEC will cut production to halt a 50 percent slide in prices from July’s record.
OPEC, supplier of about 40 percent of the world’s oil, may pare output by 1 to 2 million barrels a day in stages to stabilize prices, said Chakib Khelil, the group’s...
Oct 14th, 2008
Merquinsa Announces New Bio TPU grades at Fakuma 2008
BARCELONA, Spain — Merquinsa is pleased to announce the launch of new Bio TPU grades at FAKUMA 2008 (International trade fair for plastics processing, on 14-18 October at Friedrichshafen, Germany). The new Pearlthane® ECO thermoplastic polyurethane grades of 85A, 90A, 95A, 98 shore A, and 60 shore D hardness complete the range of Bio TPU...
Oct 7th, 2008
Oil Rises as Traders Buy Crude Amid Speculation of OPEC Cut
Crude oil rose as traders took advantage of the cheapest prices in eight months to buy oil, amid speculation OPEC will cut output.
Oil increased as Libya’s top oil official called for a production cut, and Qatar’s oil minister said the country is cutting output in line with quotas. OPEC President Chakib Khelil said the...