Market News McMoRan sees positive results at gas well July 7, 2009 by plasticsinfomart McMoRan Exploration Co (MMR.N) said a deep gas exploratory well in Louisiana showed positive results, sending its shares up 5 percent in trading after the bell. McMoRan owns a 42.9 percent working interest and a 29.7 percent net revenue interest in the Blueberry Hill well. Plains Exploration and Production Co (PXP.N) holds a 47.9 percent […] Read more »
Market News Oil falls 4 percent on economic recovery concerns July 7, 2009 by plasticsinfomart Oil settled 4 percent lower on Monday as doubts over a potential rebound in the global economy spurred investor risk aversion. U.S. crude settled at $64.05 a barrel, down $2.68 or 4.02 percent from Thursday’s close, after touching a five-week low of $63.40. U.S. markets were closed on Friday for the Independence Day holiday weekend. […] Read more »
Market News Natural rubber export declines to just 16 tonnes July 7, 2009 by plasticsinfomart India’s natural rubber export has slumped to an unprecedented level at just 16 tonnes in June against 9,451 tonnes in the same month last year, as prices in the domestic market far exceeded global rates, according to state-run Rubber Board. The overseas shipment of natural rubber has also shrunk and the country could export only […] Read more »
Category Menu Product News Cargill once again owns all of NatureWorks July 7, 2009 by plasticsinfomart Ownership of the NatureWorks 50-50 biopolymers joint venture between agriculture and food company Cargill of the USA and Teijin of Japan has been transferred to Cargill, with Teijin withdrawing from the business as part of its restructuring moves in response to the global economic downturn. The joint venture was set up in 2007 when […] Read more »
Category Menu Product News Gerresheimer technical moulding business is sold July 7, 2009 by plasticsinfomart Gerresheimer of Germany, whose core business is in pharmaceutical and life science glass and plastic products, has sold its non-core technical plastics business. The business, which was put up for sale last year, was part of the Wilden company bought by Gerresheimer at the beginning of 2007. It has been bought by FBH Group of […] Read more »
Category Menu Product News Biesterfeld takes on distribution of Ineos Nova PS July 7, 2009 by plasticsinfomart The distribution of Ineos Nova’s Empera polystyrene, handled by Biesterfeld Plastics in other parts of Europe, has been extended to Biesterfeld Petroplas in Britain and Ireland. Existing non-exclusive distribution agreements between Ineos Nova and other companies are unaffected. Biesterfeld Plastic has a long association with the Ineos Nova PS business through its predecessors Huntsman […] Read more »
Market News Kuwait wants oil price above $60 July 6, 2009 by plasticsinfomart Kuwait wants to see the price of oil stay above $60 a barrel, the OPEC member’s oil minister said on Sunday. “We will be watching the market very closely,” Kuwait’s Oil Minister Sheikh Ahmad al-Abdullah al-Sabah told reporters at parliament. “We would not like to see the price go below a certain level so it […] Read more »
Market News Crude price best at $68 to 71 per barrel July 6, 2009 by plasticsinfomart Angolan Oil Minister and Organization of Petroleum Exporting Countries (OPEC) president Jose Maria Botelho de Vasconcelos said Friday a crude oil price of68 to 71 U.S. dollars a barrel was the best for a stable industry. Vasconcelos told the Global Think Tank Summit in Beijing that the crude price last year reached both its highest […] Read more »