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.
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.
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.
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.
Chemicals maker Ashland Inc. has completed its $2.6 billion buyout of paint thickener and paper chemicals manufacturer Hercules Inc.
Company announced management team and structure for new division that will be formed after its $15.3 billion acquisition of Rohm and Haas closes.
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.
Chemical maker DuPont Co. says it has filed a lawsuit against Invista, claiming patent infringement and the misappropriation of trade secrets.
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.
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 prices hit a 20-month low Tuesday as Wall Street offered yet more evidence that consumers have gone into hiding.
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.
Prime Minister Vladimir Putin called for Russia, world's second largest oil exporter, to assume greater role in influencing oil prices, Russian news agencies reported.
Organization of Petroleum Exporting Countries could further reduce oil output if moves last month to slash production do not bolster plummeting prices, says OPEC president.
Crude oil prices neared $60 a barrel Thursday, the lowest point in about a year and a half, as a growing number of economic reports point to a long and painful recession.
International Energy Agency nearly doubled its forecast for the price of oil over the next twenty years, citing rising demand in the developing world as well as surging costs of production.
Shareholders in specialty chemicals maker Hercules Inc. voted to approve its $2.6 billion takeover by rival Ashland Inc.
Oil executives and political leaders said Monday that the era of cheap energy is over, and warned of another price spike if investment in oil production is curtailed.
Nation's second largest ethanol producer said it is seeking bankruptcy protection after skyrocketing corn costs and a deterioration in capital markets left the company short on cash.
Chemical manufacturer is temporarily shutting down the olefin unit in La Porte, Texas, starting Friday as a result of declining demand for products that use plastic.
Country's oil minister said Iran will cut its crude oil production by 199,000 barrels a day from November 1, in line with an OPEC decision last week to cut production.
Gas prices are likely to stabilize around $3 per gallon, the head of the nation's third largest oil company predicted, after rising too much too fast over the summer.
Shareholders of specialty chemicals maker Rohm & Haas Co. approved a $15.3 billion buyout by Dow Chemical Co. on Wednesday.
CEOs of oil majors Total SA and TNK-BP warned oil prices could spike dramatically if companies let the financial crisis curb longer-term investment in production.
Assurances that a controversial chemical, bisphenol A, is safe for use in food containers are badly flawed, an independent panel of scientific advisers concluded in a report Tuesday.