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M'Bishi Gas Chem Saudi JV Becomes World's Top Methanol Producer

Mitsubishi Gas Chemical Co. said Tuesday a new large-scale methanol plant at its Saudi Arabian joint venture has started operations.

Oil prices boost Shell's results

Royal Dutch Shell has reported another increase in three-month profits thanks to rising oil prices.

OMV says refining margins widen to $6.76/barrel

Austrian oil and gas group OMV said on Friday its reference refining margin widened to $6.76 per barrel in the second quarter from $4.24 in the last quarter, due to higher spreads in Western refineries.

Oil refining key to Turkmenistan development

A sophisticated refining and petrochemicals industry is key to plans for Turkmenistan's economic development, and the country plans to boost refining to 30 million tonnes per year by 2030.

No plans for new ethanol contract: ICE chairman

Uncertainty about U.S. energy policy makes a potential corn-based ethanol futures contract unlikely for now, the top executive of InterContinentalExchange.

Yemen may offer new oil, gas blocks later this year

Yemen may offer new oil and gas exploration blocks in a fifth bidding round for international firms by the last quarter of 2008.

Oil surges back over $100, closes at record

Oil futures surged to close at a new record Tuesday as traders focused on supply concerns and a bullish stock market rather than renewed signs of a shaky U.S. economy.

Viva Methanol, Firm Partner to Convert Methanol to Olefin

First commercial-scale plant to use UOP technology to produce olefins from methanol derived from natural gas UOP LLC, a Honeywell company, announced yeterday that Viva Methanol Limited has selected the UOP/Hydro MTO process technology and the Total Petrochemicals/UOP Olefin Cracking process technology to produce light olefin

Cost of oil passes $100, sets a new record

Oil futures shot higher Tuesday, closing above $100 for the first time as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand. At the pump, gas prices rose further above $3 a gallon.

Peru asks Pluspetrol to up gas for petrochemicals

Peru hopes Argentine company Pluspetrol will promise to supply more of its natural gas reserves in Peru to develop the petrochemicals industry.