Commodity Chemicals


  • The Tier 3 rules unveiled by the Environmental Protection Agency have been under development since President Barack Obama issued a memorandum instructing the agency to develop them in 2010. The rules will cut gasoline sulfur levels by more than 60 percent and should also reduce tailpipe and evaporative emissions from cars, light trucks, medium-duty passenger vehicles and some heavy-duty vehicles.

  • LONDON, Feb 26- The tremors caused by the explosion in U.S. physical aluminium premiums have reached the other side of the world. The opening producer salvoes in the quarterly negotiations are coming in at $370- 375 per tonne over LME cash. That compares with $255- 256 for the January- March 2014 period.

  • MOSCOW, Feb 19- Russian state energy company Rosneft is pushing the government for approval on a share issue for Transneft so the pipeline monopoly can finance the expansion of routes to the east, including China.

  • No oil, but a phosphate future for Saudi desert outpost Thursday, 13 Feb 2014 | 3:02 AM ET

    *Total investment to cost $9 billion. TURAIF, Saudi Arabia, Feb 13- Billboards on the highway outside Turaif, a remote desert town in the far north of Saudi Arabia, foretell a glittering future of glass offices and palm-shaded residential streets.

  • Feb 12- South Korea's refusal to revise estimates of future greenhouse gas emissions could earn it the world's highest carbon price, and have a potentially damaging impact on its export-oriented industry, according to a report released by Thomson Reuters Point Carbon.

  • SAO PAULO, Feb 3- A drop in natural gas prices caused by a shale gas boom in the United States is hurting Brazilian petrochemical company profits by reducing pricing power and making them less competitive, the head of the construction and industrial conglomerate Grupo Odebrecht SA said on Monday.

  • *BP is dismantling 20- strong Beijing- based team-sources. BEIJING, Jan 30- BP is dropping plans to invest in a refinery in China, three sources with direct knowledge said, the fourth refining project in recent months to fall foul of a slowdown in growth in the world's second-largest economy.

  • Jan 29- Dow Chemical Co hiked its dividend and tripled its share buyback program, but signaled that it was in no hurry to fall in line with activist shareholder Daniel Loeb's demands to spin off its slow-growing petrochemical businesses. Shares of Dow Chemical, the largest U.S. chemical maker by sales, rose as much as 6 percent in early trading on Wednesday.

  • MEXICO CITY, Jan 16- Mexico's Pemex will spend up to $475 million to buy and revamp a fertilizer production plant in the eastern state of Veracruz that will allow it to produce up to 990,000 tonnes of urea annually, the state oil monopoly said on Thursday.

  • SINGAPORE, Jan 8- ExxonMobil officially launched the world's first chemical unit that processes crude oil in Singapore, aiming to lower costs to better compete with rivals in a market saddled with excess capacity. But Exxon's new cracker in Singapore allows the company to bypass the refining process by processing crude directly into petrochemicals.

  • Israel's new motor fuels strategy leans on gas Tuesday, 24 Dec 2013 | 7:10 AM ET

    TEL AVIV, Dec 24- Israel plans to cut oil use in transportation by 60 percent by 2025, an aggressive target by world standards, and will tap into its newfound natural gas deposits to make it happen.

  • BEIJING, Dec 18- PetroChina's $6 billion refinery and petrochemical complex in southwest China will be ready for trial production in weeks, two company officials said, more than a year later than originally touted due to repeated delays.

  • European refiners, desperate for markets, look to Asia Wednesday, 11 Dec 2013 | 5:50 AM ET

    LONDON, Dec 11- Embattled European refiners are looking east in the scramble for customers, delivering what could be record volumes of naphtha to Asia in January and seeking Asian buyers for gasoline as their traditional U.S. market dries up.

  • *Ethylene costs $500/ T in United States, $1,200 in Europe. LONDON, Dec 5- Europe's petrochemical industry will face a competitive assault as U.S. rivals emerge with cheap feedstock from the shale gas boom. Those still in operation are struggling with losses or razor-thin margins as U.S. refiners flood Europe with cheap fuel made from low-cost shale oil and gas.

  • Dec 2- Dow Chemical Co said it would sell a bulk of its chlorine operations- its oldest business- as part of its plan to sell or spin off commodity chemicals assets worth up to $4 billion. Dow Chemical, like other U.S. chemical makers such as Dupont, is moving away from providing a wide range of products to focus on electronics, packaging and agriculture.

  • NEW DELHI, Nov 12- India's Hindustan Petroleum Corp Ltd may import about 6 million barrels of Iranian oil by March 31 if New Delhi starts a fund to back local insurers for covering plants processing oil from the sanctions-hit nation, its head of refineries said.

  • *Equatorial Guinea pushing new gas supply deals across Africa. *BG currently selling Equatorial Guinea's LNG in Asia. ABIDJAN, Nov 7- Equatorial Guinea may seek to revise some aspects of a controversial deal with BG Group as it moves to export more gas to Africa, its oil minister said.

  • BEIJING, Nov 1- Sinopec Corp won initial approval last month from China's top economic planner for a plan to build a $10- billion refinery and petrochemical complex in Shanghai, two company officials said. The new Sinopec plant, designed to process mostly imported crude oil, will be built in the Caojing industrial park, some 50 km from the centre of Shanghai.

  • As is often the case with China there are contradictory indicators that serve to muddy both the current state of its oil markets and the likely future trends. This helped to make China the world's largest net oil importer, ahead of the United States, a situation that is likely to persist, according to the U.S. Energy Information Administration.

  • China and other importers of Iranian oil have to keep reducing the shipments to win waivers to the U.S. sanctions, but China's intake of Iranian oil is running 1.4 percent higher than last year through the end of September, official customs data showed on Monday.

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