Sonatrach's exports provide Algeria with 98 percent of its hard currency and the aging fields have seen declining production. Sahnoun also announced that the Algeria should begin commercial exploitation of its shale gas by 2022 with an expected production of 20 billion cubic meters. After China and Argentina, Algeria has the largest reserves of shale gas...» Read More
LONDON, Nov 19- The splintering of the global aluminium price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its...
LONDON, Nov 19- The splintering of the global aluminum price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange and the "all-in" price paid by manufacturers. The LME is racing to catch up with its U.S....
DUBAI, Nov 16- Kuwait plans to offer to the public the shares in Kuwaiti joint ventures which U.S. petrochemicals giant Dow Chemical Co plans to sell off, state news agency KUNA quoted a senior Kuwaiti executive as saying. Dow Chemical announced last week that as part of a $7- $8.5 billion divestiture plan, it would reduce its equity positions in all of its Kuwaiti...
DuPont reported a 52 percent jump in profit as operating margins rose in five of its seven businesses.
KHOBAR, Saudi Arabia, Oct 23- Saudi Basic Industries Corp and Royal Dutch Shell have shelved plans to expand an existing petrochemical joint venture in Saudi Arabia as the results of feasibility studies were not encouraging. The two partners in the joint project, known as SADAF joint venture in Jubail, on the Gulf coast of Saudi Arabia, first announced plans to...
*Jan-Sept crude imports from Iran at 570,350 bpd, up 33 pct on yr. BEIJING, Oct 22- China's September crude oil imports from Iran rose 5.8 percent from a year earlier to 503,261 barrels per day, in an expected rebound after a fall in the previous month, customs data showed on Wednesday. China's September imports from Iran rebounded from August's 311,653 bpd, the lowest...
MUMBAI/ LONDON, Oct 15- India's Tata Steel Ltd is in talks to sell loss-making European operations including mills in northern England and Scotland to Geneva- based Klesch Group, as it battles weak prices and tentative economic recovery. Tata, Europe's second-largest steel producer, said in a statement it had agreed to negotiate with Klesch over its Long...
BUDAPEST, Sept 29- Hungarian oil group MOL is reasonably confident that its crude supplies from Russia will not be disrupted by the Ukraine conflict because its Russian partners are reputable companies, the head of its downstream business said.
CAIRO, Sept 28- Egypt plans to invest $14.5 billion in developing its refining and petrochemicals sectors over the next five years, its oil minister said, as part of efforts to overcome an energy crisis that has led to near-daily power cuts and hit company profits.
VIENNA, Sept 1- Austria's Borealis has bought out partner DuPont's majority stake in a polymers joint venture in the Netherlands, Borealis said on Monday. It gave no financial terms for the transaction, in which Borealis will buy DuPont's 67 percent stake in Speciality Polymers Antwerp N.V..
SINGAPORE, Aug 22- Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material.
BEIJING, Aug 19- Guangdong, the biggest of China's seven pilot carbon trading markets, will this year hand out around 6 percent more emission permits to companies than in 2013, potentially aggravating oversupply that sent prices tumbling earlier this year.
HONG KONG/ LONDON, July 24- China has bought almost 3,000 tonnes of molybdenum oxide, used to strengthen steel, for the first time in 20 years, helping to support struggling domestic producers squeezed by tight credit conditions, industry sources in Europe and Asia said.
DUBAI, July 20- Saudi Basic Industries Corp, one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 7 percent increase in second-quarter net income on Sunday, matching analysts' forecasts.
WASHINGTON, July 18- North Dakota's Bakken oil patch has thrived thanks in large part to the once-niche business of hauling fuel on U.S. rail tracks.
LONDON, July 16- As U.S. and EU policymakers have imposed targeted sanctions on Russian individuals and firms in response to the crisis in Ukraine, Western companies have sought to insulate their own projects from the political imbroglio and continue developing the country's vast oil and gas resources.
*Shipping sector under pressure to use fuels with lower emissions. SINGAPORE, July 7- Methanol, a fuel used to power light aircraft and racing cars, is being tried out as alternative for ships, highlighting its potential in an industry under pressure to cut emissions.
BEIJING, July 3- Chinese petrochemical imports have become the latest commodity financing tool to come under investigation for possible fraud, highlighting the risks from the widespread use of raw materials as collateral to raise loans and skirt credit restrictions.
Cramer said some companies are working despite their exposure overseas. Here's one.
Food prices and security, threatened by weather-caused production declines and relentless rising demand, will be a key issue at the conference of world business, political and social leaders.