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  • July 17- A failed Turkish military coup attempt briefly closed the Bosphorus Strait to shipping traffic on Saturday, reminding the world of Turkey's huge and growing importance as a transit route for commodities between Russia, Central Asia and Europe. Over 3 percent of global supply or 3 million barrels per day, mainly from Russia and the Caspian Sea, passes...

  • July 17- A failed Turkish military coup attempt briefly closed the Bosphorus Strait to shipping traffic on Saturday, reminding the world of Turkey's huge and growing importance as a transit route for commodities between Russia, Central Asia and Europe. Over 3 percent of global supply or 3 million barrels per day, mainly from Russia and the Caspian Sea, passes...

  • LAGOS, July 11- The private sector arm of the World Bank said it has granted a $73.5 million loan to support development of a terminal to export fertilizers at Port Harcourt in Nigeria's Niger Delta, which will help increase the country's non-oil exports. The new terminal, a joint venture between Indorama Eleme Petrochemicals Limited and Oil and Industrial...

  • BEIJING, June 25- Russia and China sealed a raft of energy deals during President Vladimir Putin's visit to Beijing on Saturday, strengthening economic ties while pledging to preserve the strategic balance of power among nations. Rosneft, Russia's top oil producer, agreed with China National Chemical Corporation that ChemChina would take a 40 percent stake...

  • BEIJING, June 25- Russia and China sealed a raft of energy deals during President Vladimir Putin's visit to Beijing on Saturday, strengthening economic ties while pledging to preserve the strategic balance of power among nations. Rosneft, Russia's top oil producer, agreed with China National Chemical Corporation that ChemChina would take a 40 percent stake...

  • *Zhejiang, Jiangsu province set to issue similar orders. BEIJING, June 17- China ordered at least 255 Shanghai-based industrial facilities, including part of a major oil refinery operated by Sinopec Corp, to shut for 14 days to reduce pollution ahead of the G20 summit, according to an official document reviewed by Reuters. Authorities in neighbouring Zhejiang...

  • BEIJING/ SINGAPORE, June 10- Chinese independent oil companies are luring traders, marketers and risk managers away from dominant state behemoths, offering better pay and perks in a hiring spree triggered by the freeing up of China's crude import trade. China's independent "teapot" refiners, so called due to their small size, could be processing by the end of this...

  • BEIJING/ SINGAPORE, June 10- Chinese independent oil companies are luring traders, marketers and risk managers away from dominant state behemoths, offering better pay and perks in a hiring spree triggered by the freeing up of China's crude import trade. China's independent "teapot" refiners, so called due to their small size, could be processing by the end of this...

  • *Asia naphtha margin down almost two-thirds this year. SINGAPORE, June 7- A stubborn supply glut and tepid demand from gasoline producers have cut the profit from making naphtha in Asia by almost two-thirds this year, with faltering appetite from China keeping the outlook dim for the next few months, analysts said. "Given the... expected weaker gasoline market, and...

  • DUBAI, May 30- Saudi Basic Industries Corp, one of the world's largest petrochemicals groups, said on Monday it had signed an agreement with Shenhua Ningxia Coal Industry Group to build a petrochemical complex in China. SABIC said in a statement the joint project would be a "greenfield petrochemical complex" located in the Ningxia Hui Region of China and would...

  • German drug and chemicals giant Bayer has made an unsolicited takeover offer for Monsanto, the world's biggest seed company.

  • *Dalian iron ore falls 6 pct, Shanghai rebar down nearly 4 pct. *China has moved this week to crack down on price surge. China's top commodity exchanges in Dalian, Shanghai and Zhengzhou increased trading margins and fees in response to last week's spike in prices and volumes, which some analysts said were not matched by fundamentals for the underlying commodities.

  • LONDON, April 26- Nearly 240 million tonnes of steel rebar traded on the Shanghai Futures Exchange last Thursday. That was equivalent to around a third of China's steel production last year, not just of construction-destined rebar but of every imaginable type of steel product. And if that sounds like a lot of steel, consider the fact that on March 10 this year...

  • MEXICO CITY, April 21- A leak caused a deadly petrochemical plant blast that has killed at least 13 people and the toll could rise, Mexican oil company Pemex said on Thursday, the latest in a series of fatal accidents to batter the company. Pemex CEO Jose Antonio Gonzalez Anaya, who traveled to the site of Wednesday's blast near the port of Coatzacoalcos, one of...

  • MEXICO CITY, April 21- An accidental leak caused a deadly petrochemical plant blast that has killed at least 13 people and the toll could rise, Mexican oil company Pemex said on Thursday, the latest in a series of fatal accidents to batter the company. Pemex CEO Jose Antonio Gonzalez Anaya, who traveled to the site of Wednesday's blast near the port of Coatzacoalcos,...

  • HOUSTON, March 9- Lyondell Basell Industries Chief Executive Bob Patel said on Wednesday the chemical company may at some stage sell its 263,776 barrel per day Houston refinery. For decades Lyondell management has described the Houston refinery as a primary source of feedstocks for the company's petrochemical plants, three of which are in industrial...

  • HOUSTON, March 9- Lyondell Basell Industries Chief Executive Bob Patel said on Wednesday that the chemical company may sell off its 263,776 barrel per day Houston refinery in "the longer term." For decades Lyondell management has described the Houston refinery as a primary source of feedstocks for the company's petrochemical plants, three of which are in...

  • Oil downturn pressures Solvay earnings

    Karim Hajjar, CFO of Solvay, says oil and gas prices have impacted profits after reporting a slower rate of growth.

  • BAKU, Feb 18- Azerbaijan's state oil company SOCAR has put on hold an ambitious petrochemical project due to a plunge in oil prices, but will invest $1.3 billion to upgrade its existing refinery and chemical facilities, a senior SOCAR executive said. Investments in the project, which drew interest from several foreign companies including Japan's Mitsui, were...

  • Ren Jianxin

    ChemChina is nearing a deal to take over Syngenta for around $42 billion, two people familiar with the matter told Reuters.