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  • RIYADH, Jan 18- Saudi Basic Industries Corp can adapt to any new petrochemicals supply entering the market from outside the kingdom, its acting chief executive said on Monday, as Iran's release from sanctions promises increased global oil supply. Yousef Abdullah al-Benyan told a news conference in Riyadh that he wasn't sure about the state of Iran's...

  • MOSCOW, Dec 30- The son-in-law of Vladimir Putin stands to benefit from $1.75 billion in cheap finance from the Russian state, a Reuters examination of public documents shows. The money will help fund a petrochemical project at a company in which Kirill Shamalov, husband of Katerina Tikhonova, the Russian president's younger daughter, has a significant...

  • SANTOS, Brazil, Dec 20- The humble jute bag, long the distinctive packing for Brazil's coffee exports, is rapidly being edged out as traders and cooperatives face rising wage bills and borrowing costs, weak global prices and a deepening economic crisis at home. Next year will see Brazil export more than half its green coffee in 1- tonne polypropylene' super sacks' or...

  • *China pushing to create modern-day Silk Road. BEIJING, Dec 15- Private Chinese firm CEFC Energy has agreed to take control of a unit of Kazakhstan's state oil and gas company which mainly owns assets in Europe, as China boosts business with its resource-rich but cash-strapped neighbour. That comes as China pushes to create a modern-day Silk Road under its "One...

  • SINGAPORE, Dec 11- A potential merger between Dow Chemicals and DuPont could unleash a new force in Asia's growing petrochemical sector with combined regional sales of nearly $17 billion to compete in an industry dominated by Middle East and East Asian firms. Whether as a newly created company or a subsidiary of a huge parent, it could create a petrochemical...

  • Dow Chemical and DuPont in mega-merger talks: Sources Wednesday, 9 Dec 2015 | 2:45 PM ET
    The production plant for high density polyethylene of Dow Chemical in Tessenderlo.

    Dow Chemical and DuPont are expected to announce a merger of equals by Thursday, sources told CNBC.

  • BEIJING, Dec 9- China will cut export taxes on steel billet and pig iron from the start of 2016, the finance ministry said on Wednesday, the latest move by the world's top steel producer to erode a domestic glut and offer a lifeline to the stricken industry. "This kind of strategy is aimed at redirecting this oversupply in China to other countries," said Helen Lau,...

  • The venture plans to build a medium-sized pilot plant and to have a full-blown 1- billion-euro chemical reactor running by 2030.. This will generate a carbon footprint that is 14 percent smaller than via the conventional method, according to a study by Aachen University. The 5,000 tonnes-per-year production line near Cologne, 5 to 10 percent the size of a...

  • SINGAPORE, Nov 18- Asia will receive around 2 million tonnes of naphtha in December from the West, including Europe and the Mediterranean, traders said on Wednesday, in what would be the largest such monthly imports since September 2014. So the amount of cargoes coming in is just right to cater to demand, "said a Singapore- based trader. "But I do not expect the...

  • Nov 17- BP Plc said on Tuesday it was exploring the sale of a petrochemical plant in Decatur, Alabama as part of a restructuring of its petrochemicals business. BP said it was spending $200 million to cut costs at PTA-producing plants in Cooper River, South Carolina and Geel, Belgium. BP's shares were up 2.6 percent at 378.1 pence on the London Stock Exchange at 1510...

  • SAO PAULO, Nov 7- Brazil's state-run oil company Petroleo Brasileiro SA said on Friday two amendments to its contract to supply naphtha to Braskem SA, Latin America's largest petrochemical company are worth 950 million reais. The contract amendments extend the terms of an agreement for Petrobras, as the oil company is known, to supply Braskem with naphtha, a...

  • SAO PAULO, Nov 7- Brazil's state-run oil company Petroleo Brasileiro SA said on Friday two amendments to its contract to supply naphtha to Braskem SA, Latin America's largest petrochemical company are worth 950 million reais. The contract amendments extend the terms of an agreement for Petrobras, as the oil company is known, to supply Braskem with naphtha, a...

  • *Margins expected to be buoyed by China, India gasoline demand. Margins are likely to be buoyed as gasoline remains a bright spot in otherwise oversupplied markets for oil products, with double-digit growth in demand for the fuel from Asia's largest consumers, China and India, analysts said. Energy consultancy FGE sees Singapore hydrocracking margins or...

  • *Russia exports to China last surpassed Saudi Arabia in May. *China Sept crude imports from Iran down 17 pct on year. BEIJING/ SINGAPORE, Oct 21- Russia supplied a record amount of crude oil to China in September, surpassing Saudi Arabia for the second time as the top seller to the Asian giant, customs data showed, boosted by demand from independent refiners.

  • SINGAPORE, Oct 20- Asia's biggest jet fuel buyer, China Aviation Oil, aims to expand its operations overseas to provide fuel to meet a boom in the number of Chinese flying overseas, the firm's chief executive said. That number is expected to rise 10 percent this year as countries including the United States, France and Australia relax visa policies.

  • BEIJING, Oct 20- Chinese state energy giant Sinopec Corp is in advanced talks on taking a controlling stake in petrochemical firm Dragon Aromatics, which operates one of the country's biggest chemical plants, three sources with knowledge of the matter said. The discussions come after the independent petrochemical firm suffered a second major fire in less...

  • China's "teapot" refinery champion bows out on a high Wednesday, 14 Oct 2015 | 5:00 PM ET

    *China on track to become the world's top crude importer. SINGAPORE, Oct 15- China is on course to become the world's biggest crude oil importer and a determined 70- year-old woman from the country's oil-rich hinterland who battled to save small "teapot" oil refineries can take some of the credit. "One of the major problems we faced was the government's policy that...

  • *Biggest growth seen in India. SINGAPORE/ DUJANA, India, Oct 9- Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue, has become a rare bright spot amid a broad commodities rout, riding on the wave of strong economic growth in India and parts of Southeast Asia. The biggest growth market is India, with its 1.3 billion people and 8...

  • *Biggest growth seen in India. SINGAPORE/ DUJANA, India, Oct 9- Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue, has become a rare bright spot amid a broad commodities rout, riding on the wave of strong economic growth in India and parts of Southeast Asia. The biggest growth market is India, with its 1.3 billion people and 8...

  • *Appetite for plastic wrapping, packaging remains strong. SINGAPORE, Oct 9- Asian demand for plastic is set to defy economic slowdown in top consumer China and other nations, growing as plunging oil prices make it cheaper to churn out and as fast-expanding online markets boost appetite for items like packaging and wrapping. Prices in China for polyethylene, the...