Chemicals Commodity Chemicals

  • FRANKFURT/ LONDON, Sept 14- At least three leading chemical companies are set to vie for BP's stake in Chinese petrochemicals joint venture SECCO which could fetch more than $2 billion, sources close to the process said. Offers for the 50 percent stake, the British oil and gas company's largest investment in China, will be submitted in the coming days, the sources...

  • *Plans aggressive expansion of lubricants business in Europe. MILAN, Sept 6- Malaysia's state-owned oil and gas company Petronas is on track to get its $27 billion refining and petrochemical complex in the south of the country up and running in 2019, the head of the group's downstream operations told Reuters. Petronas has earmarked heavy spending cuts to...

  • BANGKOK, Aug 18- Thailand's largest energy firm PTT Pcl plans to import at least 5 million tonnes of liquefied natural gas in 2017, up from 3 million tonnes this year as local gas production fades. Thailand, which uses natural gas for nearly 70 percent of its power generation, has become increasingly reliant on LNG imports as its own domestic gas fields are slowly...

  • *Plan to locate in Texas or Louisiana. DUBAI/ KHOBAR, July 25- Saudi Basic Industries Corp, one of the world's largest petrochemicals groups, said on Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. The project will be on the United States' Gulf Coast, possibly in Texas or Louisiana, and will include a production...

  • July 21- ExxonMobil Corp said on Thursday it would buy InterOil Corp for more than $2.5 billion in stock, adding a gas field to expand exports from Papua New Guinea and better positioning it to meet Asian demand for liquified natural gas. Oil majors are targeting Papua New Guinea for growth as the quality of its gas, low costs and proximity to Asia's big LNG...

  • TOKYO, July 20- Oil futures were mixed on Wednesday with Brent posting limited gains and U.S. crude trading sideways in advance of the release of official weekly inventory figures later in the day. Brent crude was up 5 cents at $46.71 a barrel at 0652 GMT. On Tuesday, the contract settled down 30 cents, or 0.6 percent, at $46.66 barrel.

  • TOKYO, July 20- Oil futures rose in Asian trading on Wednesday but gains were limited and U.S. crude traded sideways in advance of the release of official weekly inventory figures later in the day. Brent crude was up 18 cents at $46.84 a barrel at 0349 GMT. On Tuesday, the contract settled down 30 cents, or 0.6 percent, at $46.66 barrel.

  • 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...