Federal government on Tuesday projected regular-grade gasoline to average $2.23 a gallon during the April through September driving season.
Federal officials want to fine a western Pennsylvania chemical company $121,500 for a toxic leak that forced 2,500 residents to evacuate in October.
An explosion at the SantoLubes chemical plant in St. Charles, Mo., has left one worker burned and the plant badly damaged.
After the International Energy Agency said it expects global crude demand to drop this year, oil prices fell $3.24 to $49 a barrel Monday.
Agency lowered its estimate for global oil demand in 2009 based on an 'unusually severe recession' in rich countries, and falling demand in developing countries.
German pharmaceutical and chemical company to curb pigment production in Germany, the U.S., Japan and China, and cut hours for about 500 domestic workers.
Having completed its $16.5 billion buyout of Rohm & Haas, Dow said it will sell Morton Salt to a German fertilizer maker in a deal worth $1.675 billion.
Deal will allow Dow to expand in the high-margin specialty chemicals market and move away from the commodities chemical market.
Exports plunged 21.7 percent to $11.9 billion in February, the steepest annual fall in at least 16 years, while imports shrank 23.3 percent to $16.8 billion.
Inflation in the 16 nations that use the euro hit a record low, growing just 0.6 percent from a year ago as oil prices slumped, the EU statistics agency said.
One official received jail time and 12 others were either sacked or given administrative punishments after a chemical company heavily polluted a river with arsenic.
German chemical company said that because order levels remain weak it will further reduce production, which so far has been slashed by over 25 percent.
Despite a 5 percent overall decline, the Environmental Protection Agency says more mercury, dioxin and polychlorinated biphenyls entered the environment.
Specialty chemicals and its U.S. operations have filed voluntary petitions for Chapter 11 after a recent drop in order volumes led to a sharp decline in its liquidity and cash flow.
Outspoken comments came a day after oil ministers of OPEC’s 12-nation crude producers' club decided to maintain current production levels.
Substantial output cut could cause prices to spike and increase OPEC revenues, but it could also prolong economic woes in the U.S. and other major oil consumers.
Global demand for oil is projected at 84.4 million barrels per day in 2009, down 1.5 percent from the previous year, the International Energy Agency said Friday.
Paints and coatings maker said it will slash 2,500 jobs and close more facilities as part of a new cost-cutting effort designed to save an additional $140 million a year.
German chemicals giant is selling off several units to win European Union antitrust approval to buy Swiss rival Ciba Holding, the European Commission said Thursday.
Senior Kuwaiti official says OPEC decision to cutback production 'is expected to be endorsed unanimously due to what is happening with prices.'
Chemical giant has agreed to complete its disputed $15 billion buyout of Rohm & Haas, but the combined company will shed thousands of additional jobs and freeze salaries this year.
Chemical manufacturer said plans to reduce labor and payroll costs include cutting between 200 and 300 employees and reducing base pay for U.S. employees by 5 percent.
Iraq's oil minister says crude oil prices are not 'profitable and fair' for oil producing countries and should be increased.
Whether Rohm & Haas is worth its price tag is up for debate, but few question that it has built itself into an elite company in an industry dominated by chemical giants.