"In light of high crude oil prices and stagnant selling prices for downstream oil products, the company expects to record a net loss for [Q1] as a result of significant losses from the company's refinery businesses." Hong Kong listed Sinpopec and Shanghai Petrochemical said in reference to the surge in oil prices and their impact on margins.
"We are poised to be distributing ethanol in the US at a rate in excess of 200 million gallons per year as early as January 2007." Noble group said after signining a $2 million stake in a Kansas Ethanol plant.
"The combination of Chevron and Unocal assets makes us the largest holder of oil and gas resources in Asia among our peer group. And, we have plans to build a significant LNG business." Vice Chairman of Chevron, Peter Robertson said in reference to its plans for multi billion dollars of growth in its Asia operations.