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Daily news and top headlines for manufacturing professionals

Bush Lifts Ban On Offshore Drilling

July 14, 2008 7:41 am | by Ben Feller, Associated Press Writer | News | Comments

In another push to deal with soaring gas prices, President Bush will lift an executive ban on offshore drilling that has stood since his father was president.

Oil Prices Hit New High Above $147

July 11, 2008 7:45 am | by Madlen Read, AP Business Writer | News | Comments

Rising hostilities between the West and Iran and the potential for attacks on Nigerian oil facilities gave investors reason to rush back into the energy markets.

Ashland, Hercules To Merge

July 11, 2008 6:35 am | News | Comments

Manufacturer says it will acquire Hercules in a $3.3 billion merger that would create a global specialty chemicals company.

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Oil Rebounds On Iran Tensions

July 10, 2008 11:12 am | by Madlen Read, AP Business Writer | News | Comments

Prices rebounded sharply from their recent tumble of nearly $10 a barrel, amid worries among traders that escalating political tensions in the Middle East could cut off supplies from the region.

Clariant Acquires Rite Systems, Ricon Colors

July 10, 2008 6:10 am | by Edited by Manufacturing.net Staff | News | Comments

Switzerland-based specialty chemicals maker acquired two U.S. manufacturers of liquid and solid masterbatches technology.

Indonesia To Force Manufacturers To Use Biofuel

July 10, 2008 5:59 am | News | Comments

World's largest producer of palm oil plans to force manufacturers to use biofuels for some of their energy needs to reduce dependence on imported oil amid soaring global prices.

Dow Chemical Buying Rohm And Haas For $15 Billion

July 10, 2008 5:18 am | by David Runk, Associated Press Writer | News | Comments

Company will buy rival chemicals maker Rohm and Haas for more than $15 billion in a deal the chemical giant said was a lynchpin for growth.

Oil Drops $8 In Two Days

July 8, 2008 1:34 pm | by George Jahn, Associated Press Writer | News | Comments

Price for a barrel of oil fell nearly $5 Tuesday, a two-day swing of more than $8 as traders took profits and fears of a supply disruption eased.

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Pickens Wants More Focus On Alternative Energy

July 8, 2008 10:55 am | News | Comments

Texas oilman T. Boone Pickens opened an advertising campaign Tuesday in an attempt to bring more emphasis to solving the nation's energy crisis.

BASF Lowers Growth Outlook

July 8, 2008 5:48 am | News | Comments

Germany's BASF revised its growth outlook for chemicals to 2.4 percent from 2.8 percent blaming the strong euro and rising oil costs.

OPEC Chief Says Demand Will Keep Oil Prices High

July 7, 2008 5:45 am | News | Comments

Chakib Khelil says the world's surging oil prices are not likely to fall and blames the rise on the weak U.S. dollar, the currency that oil is sold in.

Chemtura To Raise Nonylphenol Prices

July 7, 2008 5:05 am | News | Comments

Company said Monday it is raising prices of nonylphenol, a chemical used in cleaning products, by 14 cents per pound.

Oil Prices Near $146 A Barrel

July 3, 2008 5:30 am | by Pablo Gorondi, Associated Press Writer | News | Comments

Expectations that the European Central Bank will raise interest rates later Thursday could further weaken the U.S. dollar and drive oil prices even higher.

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W.Va. Gov. Seeks Review Of DuPont Zinc Plant Case

July 2, 2008 11:33 am | by Lawrence Messina, Associated Press Writer | News | Comments

Gov. Joe Manchin has urged the West Virginia Supreme Court to clarify whether DuPont has a right to have an appeal heard on $196.2 million in punitive damages.

Oil Prices Rise Near $144

July 2, 2008 11:25 am | by Adam Schreck, AP Business Writer | News | Comments

Crude oil prices headed for a record close as news of a bigger-than-expected drop in U.S. crude stockpiles and the threat of conflict with Iran weighed on traders' minds.

3M Buys Chemical Manufacturer K & H

July 2, 2008 6:33 am | News | Comments

Conglomerate said Wednesday it bought Australian chemical maker K&H Surface Technologies for an undisclosed sum.

Huntsman Extends Buyout Term, Countersues Hexion

July 2, 2008 5:55 am | News | Comments

Chemical producer said Wednesday it has extended the term of its deal to be acquired by Hexion Specialty Chemicals and has filed counterclaims against the company.

Europe Approves Huntsman Acquisition

July 1, 2008 6:45 am | News | Comments

Chemical producer Huntsman said Tuesday the European Commission approved its purchase by Hexion Specialty Chemicals, an affiliate of Apollo Management LP.

Oil Rises To $143 A Barrel Before Falling

June 30, 2008 11:10 am | by J.W. Elphinstone, AP Business Writer | News | Comments

Supply concerns, a weak dollar and a fragile global economy continue to drive the price of oil to new highs, as well as continued tensions in the Middle East.

Poll: Majority Struggling With Rising Gas Prices

June 30, 2008 6:33 am | by Alan Fram, Associated Press Writer | News | Comments

Like a plague that does not discriminate by economic class, race or age, soaring fuel prices are inflicting pain throughout the U.S., with nine in 10 expecting ballooning costs to squeeze them financially.

Solutia May Sell Nylon Business

June 30, 2008 6:28 am | News | Comments

Chemical maker said Monday it hired HSBC Securities to explore strategic alternatives for its nylon business, including a possible sale.

OPEC Ministers Meet To Discuss Market Challenges

June 30, 2008 5:44 am | by George Jahn, Associated Press Writer | News | Comments

World interest will be focused on what the more than 20 energy ministers from OPEC and elsewhere will have to say about how to quench raging market volatility.

OPEC: Oil Could Hit $170 Soon

June 26, 2008 1:55 pm | News | Comments

Crude oil prices will likely rise to between $150 and $170 a barrel this summer, but probably not reach $200 a barrel, OPEC President Chakib Khelil was quoted as saying.

Oil Tops $140

June 26, 2008 10:40 am | News | Comments

Prices are soaring further into record territory, breaking past $140 a barrel after OPEC's president said prices could rise well above $150.

Chemtura Decides Not To Sell

June 26, 2008 5:20 am | News | Comments

Chemical maker has decided to remain as a stand-alone company after failing to attract a strong enough bid during a six-month review of strategic alternatives.

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