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Chemicals and Petroleum
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Daily news and top headlines for manufacturing professionals

New York Chemical Maker Cuts Payroll

December 4, 2008 5:37 am | News | Comments

Albany-area chemical manufacturer cutting the pay of 400 workers by 25 percent and temporarily laying off 225 of them for periods ranging from two days to two weeks.

Thousands To Lose Jobs As DuPont Restructures

December 4, 2008 4:50 am | by Randall Chase, AP Business Writer | News | Comments

Chemical giant will cut 2,500 jobs and said it will not turn a profit in the fourth quarter as a severe slowdown in the automotive and construction markets eats away at chemical sales.

OPEC Looks To Broaden Oil Cartel

December 2, 2008 4:12 am | News | Comments

Head of OPEC says he hopes oil producing nations like Russia will join the organization, or at least agree to output cuts to help spark a rally in prices.

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Start-Up Making Motor Oil From Animal Fat

December 1, 2008 10:00 am | by Ernest Scheyder, AP | News | Comments

Connecticut startup said it expects to deliver a car engine oil this month that is made from animal fat, a slaughterhouse byproduct this is typically discarded.

Oil Falls Below $50

December 1, 2008 9:50 am | by Mark Williams, AP Energy Writer | News | Comments

Price drop comes two days after OPEC said it would not cut production of crude before its regularly scheduled meeting in three weeks.

Rohm And Haas Cuts Ties With ChemPoint

December 1, 2008 5:00 am | News | Comments

Specialty materials company said its powder coatings business will discontinue its distribution relationship with ChemPoint in order to provide directly to customers.

K-Dow Petrochemicals Gets Set To Launch

December 1, 2008 4:49 am | News | Comments

Officials say a joint petrochemicals venture between Dow Chemical Co. and a Kuwaiti company will begin operations by Jan. 1.

Report: OPEC To Cut Output In December

December 1, 2008 4:12 am | News | Comments

Iranian state TV reports that OPEC's Secretary-General says a daily oil production cut of between 1 million and 1.5 million barrels is likely in December.

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Report: Russia Working With OPEC To Slash Output

November 26, 2008 3:54 am | News | Comments

Russia's energy minister said the country may coordinate oil production cuts with OPEC to help stem the slide in crude oil prices, according to media reports.

FDA: Melamine Found In U.S. Baby Formula

November 26, 2008 3:44 am | by Martha Mendoza and Justin Pritchard, Associated Press Writers | News | Comments

Traces of the industrial chemical melamine have been detected in samples of top-selling U.S. infant formula, but federal regulators insist the products are safe.

Delfin To Expand S.C. Plant, Add 160 Jobs

November 25, 2008 3:45 am | News | Comments

Petroleum product manufacturer says it will expand its North Charleston plant, adding 160 jobs over the next several years.

Researcher Gets Prison For Selling Trade Secrets

November 21, 2008 7:17 am | News | Comments

Former researcher for Lubrizol has been sentenced in Cleveland to 19 months in prison for selling the chemical company's trade secrets to a competitor in South Korea.

Consumer Prices Could Drop As Chem Costs Fall

November 21, 2008 5:20 am | by Ernest Scheyder, AP Energy Writer | News | Comments

Chemicals makers, corralled by fierce competition in the retail market and oil costs, may be forced to drop their prices amid the economic slowdown in order to stay competitive.

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BASF Cutting Production, Not Jobs In Louisiana

November 19, 2008 8:18 am | News | Comments

Chemical company BASF SE is cutting production at its complex in southeastern Louisiana, but the move will not cost any employees their jobs, a plant spokesman said.

BASF To Temporarily Close 80 Plants

November 19, 2008 3:55 am | by Matt Moore, AP Business Writer | News | Comments

Chemical company to temporarily close 80 plants worldwide due to slumping demand and cut production at 100 more, a move that will affect 20,000 workers.

Chinese Exec: Oil Should Rebound To $70-$80

November 18, 2008 4:40 am | by Paul Haven, Associated Press Writer | News | Comments

Head of China's biggest offshore energy producer said he thinks oil prices are likely to return to the $70-$80 barrel range, though low prices could continue for some time.

OPEC To Meet About Falling Crude Prices

November 14, 2008 5:02 am | by George Jahn, Associated Press Writer | News | Comments

Oil prices held steady Friday after OPEC announced it would meet this month to address crude prices that have fallen 60 percent in just four months.

Ashland Completes Hercules Acquisition

November 14, 2008 4:25 am | News | Comments

Chemicals maker Ashland Inc. has completed its $2.6 billion buyout of paint thickener and paper chemicals manufacturer Hercules Inc.

Dow Chemical Creates New Rohm And Haas Division

November 13, 2008 9:23 am | News | Comments

Company announced management team and structure for new division that will be formed after its $15.3 billion acquisition of Rohm and Haas closes.

Romanian Companies Cut 800 Jobs

November 13, 2008 5:19 am | News | Comments

Companies in the chemical and fertilizer industry said Thursday they will lay off some 800 workers as their businesses feel the effects of the global economic crisis.

DuPont Sues Invista Over Resins

November 13, 2008 5:15 am | News | Comments

Chemical maker DuPont Co. says it has filed a lawsuit against Invista, claiming patent infringement and the misappropriation of trade secrets.

IEA: Development Delays Could Mean $200 Oil Prices

November 13, 2008 4:30 am | News | Comments

Delays in the development of new oil fields may spark a supply crunch and drive up oil prices above $200 per barrel, International Energy Agency's Executive Director warned.

Huntsman Gets Ready To Sue Banks

November 12, 2008 6:22 am | News | Comments

Company said Wednesday it has begun forming its case against Deutsche Bank and Credit Suisse after the banks declined to fund its sale to Hexion Specialty Chemicals.

Oil Dips Below $59 A Barrel

November 11, 2008 9:25 am | by John Porretto, AP Energy Writer | News | Comments

Oil prices hit a 20-month low Tuesday as Wall Street offered yet more evidence that consumers have gone into hiding.

Mitsubishi Rayon Buys Lucite For $1.6 Billion

November 11, 2008 5:25 am | News | Comments

British chemicals producer agreed to a $1.6 billion cash takeover by Mitsubishi Rayon Co. Ltd., which would gain ownership of the Lucite and Perspex acrylic plastic brands.

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