Chinese oil refineries are gearing up to receive more Russian oil transported through an expanded Siberian pipeline network from January, likely cementing Russia’s position as China’s largest oil supplier in a close race with Saudi Arabia.
The planned ramp-up in pipeline supplies agreed in contracts signed in 2013 comes amid a pledge by producers to cut output to tighten globalRead more
Saudi Arabia's National Industrialization Co. (Tasnee) expects further job cuts to come but is seeing the benefits of a restructuring effort which has already resulted in the firm shedding more than 25 percent of its global work force.
The remarks by Chief Executive Mutlaq Al-Morished came after the maker of plastics, chemicals and titanium dioxide halted a run of fiveRead more
A major Iranian petrochemical company is in talks with some Japanese and Korean investors for financing Iran's petrochemical projects, Iran's Petro-Energy Information Network (SHANA) reported on Sunday.
The negotiations between Iran's Petrochemical Commercial Company International (PCCI) and some Japanese and Korean investors are aimed to attract an investment of 520 million euros (586 million U.S. dollars) in petrochemical projects inRead more
Royal Dutch Shell NA’s decision to build a major chemical plant in Pennsylvania boils down to a bet that North American shale gas in the next decade will remain cheaper than oil, the main petrochemical feedstock used in other regions. It’s a risk no one else has dared to take.
A barrel of Brent crude now costs about 20 timesRead more