BEIJING:
A $1 trillion oil-fired trade windfall couldn’t be better timed to help Chinese companies climb the value chain and rebalance the economy of the world’s biggest exporter. 

HOUSTON:
Chesapeake Energy’s largest shareholder urged the natural gas company to remain open to acquisition, despite the weakness of its share price. 

Once fully operational, the plant is expected to produce approximately 500,000 tonnes of polypropylene per year. At current rates, this will replace approximately 30 per cent of polypropylene imports into the country

NEW YORK:
Billionaire investor Carl Icahn won control of oil refiner CVR Energy after shareholders flocked to accept a takeover offer valuing the company at about $2.6 billion, ending a three-month-long war of words with the company’s board. 

BUENOS AIRES:
Argentina’s Congress nationalised the country’s biggest oil company, YPF, by an overwhelming lower house vote that underscored broad popular support for a measure that threatens to scare off foreign investment. 

ROTORK Process Controls has launched a new range of compact, robust and reliable electric actuators for control valves, regulators and other continuous modulating applications. The CMA (Compact Modulating Actuator) extends the scope of Rotork’s proven technologies and the benefits inherent in the innovative Rotork CVA electric control valve actuator range.The CMA range increases the areas of flow control that can take advantage of these advanced features.

PARIS:
The Organization of the Petroleum Exporting Countries (Opec) is working hard to bring down oil prices that jumped towards $130 a barrel earlier this year, its secretary general said, and is pumping much more than its official target even as exports from group-member Iran dwindle. 

Victaulic appoints new  manager for EMEA-I

TOKYO:
Top oil exporter Saudi Arabia is pumping at around 10 million barrels per day (mbpd), and is storing 80 million barrels to meet any sudden disruption in supplies, Oil Minister Ali Al Naimi said.