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Commodity Chemicals

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  • 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.

  • COLUMN-The Big One: Russia's Bazhenov shale: Kemp Wednesday, 16 Jul 2014 | 7:02 AM ET

    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.

  • *CCI hires Singapore- based trader for naphtha- mkt sources. *Firm currently trades fuel oil, petchem from Singapore. SINGAPORE, June 17- U.S. company Castleton Commodities International LLC is expanding its oil product trading in Asia to include naphtha, market sources said.

  • BEIJING, June 13- China's implied oil demand fell 3.1 percent in May from the previous month to its lowest since August as refineries scaled back production for maintenance and continued to export surplus fuel to trim inventories as the nation's economy slowed.

  • BEIJING, June 12- Chinese state-run oil trader Zhuhai Zhenrong Corp has entered a one-year supply agreement to buy Iranian South Pars condensate, in its first term contract for the light crude oil with the Middle East supplier, according to industry officials.

  • LONDON, June 5- Another quarter and another record premium level for Japanese aluminum buyers. The premium over the London Metal Exchange cash price for third-quarter shipments to Asia's largest importer seems to be settling around the $400 per tonne level, up from $365- 370 in the current quarter.

  • LONDON, June 5- Another quarter and another record premium level for Japanese aluminium buyers. The premium over the London Metal Exchange cash price for third-quarter shipments to Asia's largest importer seems to be settling around the $400 per tonne level, up from $365- 370 in the current quarter.

  • BURGHAUSEN, Germany/ GEISMAR, Louisiana, June 2- Nestled in the green hills of southern Germany, chemical giant Wacker Chemie churns out a wide range of products, from an ingredient for chewing gum to the polysilicon crystals in solar cells.

  • *To pay minority shareholders $14 in cash for each PetroLogistics unit. May 28- A Koch Industries Inc unit will take PetroLogistics LP private in a deal worth $2.1 billion, including debt, gaining control of a plant that can convert cheap U.S. shale gas into propylene, a key petrochemical used to make plastics.

  • KHOBAR, Saudi Arabia, May 13- Saudi Basic Industries Corp expects its planned oil-to-chemicals plant to start operations by the end of 2020, it said on Tuesday.

  • *Japan to shut three naphtha crackers from 2014 to 2016. SINGAPORE/ TOKYO, May 9- A series of Japanese petrochemical plant closures starting this month will crimp demand for naphtha in the world's No.3 economy, dragging on regional markets for the plastic-making ingredient just as supplies are increasing.

  • *Considers spending more than 1 bln eur on U.S. plant. FRANKFURT, May 2- BASF, the world's No.1 chemicals company by sales, said it could spend more than 1 billion euros to build a petrochemical plant in the United States, joining global peers attracted by cheap shale gas there.

  • LAUNCESTON, Australia, April 30- First it was oil refining and now it's petrochemicals getting a reality check in China. In recent months China has seen a slew of delays and cancellations to oil refinery and petrochemical projects, as the full impact of slower economic growth, pollution concerns and foreign competition hits home.

  • KUALA LUMPUR/ VANCOUVER, April 30- A plan by Malaysian state-owned oil firm Petronas to build an $11 billion liquefied natural gas export terminal on Canada's Pacific Coast gained momentum on Tuesday with China's Sinopec Group and a Chinese state utility joining the project.

  • BEIJING, April 28- China's top refiner Sinopec Corp is scaling back billions of dollars in petrochemical investments in the face of growing U.S. competition in the sector and rising local opposition to oil and gas plants over environmental concerns.

  • BEIJING, April 28- Sinopec Corp has held up a $3.1 billion ethylene plant in east China's Qingdao, after a fatal pipeline blast last year threw into question whether the city is environmentally viable for the petrochemical complex, a company source said on Monday.

  • BEIJING, April 18- China has launched an intense media campaign to defend the safety of producing a chemical used to make polyester fibre, as public opposition to new petrochemical plants threatens to disrupt expansion plans by state energy giants such as Sinopec Corp..