The NYMEX June natural gas futures contract settled 4.6 cents higher at $4.405/MMBtu on Friday as the market consolidated ahead of the holiday weekend and eyed forecasts for hotter than normal weather into June. "Despite the short-term ...
Tags: Natural Gas, oil prices
Russia does not plan to reduce export volumes of its crude and gas in the next 10-20 years, but expects to increase exports of high quality oil products as major modernization of its refineries is in the final stages, Lukoil CEO Vagit ...
Tags: Crude Exports, Gas Exports
BASF increased spending on research and development to €1.8 billion (2012: €1.7 billion) in 2013. "In absolute terms, we lead the field in the chemical industry with our research and development expenditures," said Dr. Andreas ...
Tags: Construction, Decoration, Basf, Coating
Baker Hughes reported that for the week ending May 23 the US rig count decreased by four to 1,857, following a six-rig increase the week before. The rig count is still up by 95 from 1,762 rigs during the same week a year ago. The oil rig ...
Tags: Baker Hughes, oil rig
Sweden-based special steel producer Ovako has announced that the commercial court of Nanterre in France has made a decision regarding the bid concerning the assets of French engineering steel producer Ascometal in favor of the French ...
Tags: Bankrupt Ascometal
Loadings of Doba, Chad's only export grade crude oil, will be set at 3.8 million barrels in July, up 33.33% from June, according to a copy of the country's loading schedule seen Thursday by Platts. Four cargoes of 950,000 barrels each ...
The fuel oil hi-lo spread -- the premium of 1% FOB NWE cargo swaps over 3.5% FOB Rotterdam barges -- has moved above $60/mt for the first time since April 1 on supply worries, sources said Thursday. The physical hi-lo was assessed at ...
Tags: Fuel Oil, physical hi-lo
Automotive supplier Continental has increased production of the transmission control units (TCU) at its Tianjin Plant in China. Launched in Changchun in 1998, TCU production expanded significantly in 2008 with the opening of a new plant ...
Tags: Continental, Auto Parts Production
Swedish high-technology engineering and steelmaking group Sandvik has announced that it has completed the acquisition of Varel International Energy Services Inc., a manufacturer of drill bits. The parties had reached an agreement for the ...
Taiwan's state-owned CPC will suspend supply of 380 CST grade bunker fuel at Taichung port, on Taiwan's west coast, from May 21 for two and a half months as one of its barges will undergo maintenance, a company source said Monday. The ...
Tags: Bunker Fuel, CPC
Indications or offer levels for Angolan crude oil cargoes loading in July show a mixed picture compared with June, traders said Tuesday. Most offer or indications levels for Angolan crudes loading in July were either stable or higher ...
UK-listed independent producer Afren Tuesday said it planned to begin further development drilling at its Nigerian offshore Ebok, Okwok and Okoro oil fields in the third quarter in a bid to bolster oil reserves and production. ...
Tags: oil production
The US shale gas and oil boom of recent years is "very profound, but sometimes taken out of proportion," International Energy Agency chief economist Fatih Birol said at the Flame conference in Amsterdam Tuesday. Birol said that of the ...
Hess Corp. and North Dakota officials gathered Monday to mark the recent completion of an expansion of the company's natural gas processing plant that will help cut the amount of gas production wasted through flaring and boost NGL ...
Tags: natural gas, pipeline
Beijing bureaucrats are all exhausted just by chasing a sputtering economy and trying to keep it moving. Some fine-tuning here, a bit of state spending there – all with the aim of meeting a GDP growth target. But if they want to stop ...
Tags: Economy Reform, China Economy