Novatek, Russia's No.2 natural gas producer, is lobbying for a lower duty on exports of naphtha, a company spokesman said, in a move to help reduce its growing inventories at a new refining complex. Novatek and petrochemical company Sibur started operating an oil product refining and terminal complex at the Baltic port of Ust-Luga in June, with plans to initially produce 2 million tonnes of naphtha and some 800,000 tonnes of kerosene and diesel a year. In the third quarter alone, Novatek

Since the government implemented the cotton purchasing and storage system three years ago, China's cotton industry has come to a crossroads as domestic cotton prices remain much higher than those in the international market, the Beijing-based Economic Observer reports. The nation's cotton industry production costs for raw cotton materials are too high, while demand is not strong, said Cai Min, vice president of Weiqiao Textile. In Shangdong's Dezhou and Wucheng, many cotton and textile en

Polskie Górnictwo Naftowe i Gazownictwo SA has plans to increase production of crude oil in 2014 to 1.19 million tonnes, PGNiG said on October 17. According to the updated forecast for 2013, production is expected to more than double relative to 2012 - with up to 1.09 million tonnes (about 8 million barrels) extracted in 2013, compared with 492 thousand tonnes (about 3.6 million barrels) in 2012. Such growth will be attributable mainly to foreign production, which in 2013 will reach 310 thousand

On account of increase in global demand, apparel exports from country has shown a positive growth of almost 13 percent in last six months, Chairman of Apparel Export Promotion Council (AEPC), Dr. A. Sakhtivel said on Monday. "From the last six months apparel exports are recording the positive growth of almost 13 percent," Sakhtivel said a Workshop of Expert Working Group on Content Development and Training Strategy for effective implementation of DISHA AEPC-CCC at Apparel House, Gurgaon. "

The volume of Japan’s customs-cleared crude oil imports fell 19.3 percent in September from a year ago, marking the sharpest decline in 11 months, while LNG and coal imports also fell, reflecting sluggish power demand. Japan imported 3.52 million barrels per day (16.789 million kiloliters) of crude oil last month, preliminary data from the ministry showed, the Ministry of Finance said. That marks the sharpest year-on-year decline since a 24.5 percent fall recorded in October 2012, a mini

Garment industry, Cambodia's largest income earner, reported a 22-percent increase in exports in the first nine months of 2013, showed the data of the Ministry of Commerce released on Tuesday. During the January-September period this year, the country had exported garment products in equivalent to $4.2 billion, up 22 percent from the $3.44 billion over the same period last year, the data said. Cambodian apparels are mostly sold to the United States and European countries, with some to Can

Bangladesh intends to announce a new minimum wage for garment factory workers in early November. It took international pressure and a string of fatal factory accidents in recent months to get the government of Bangladesh to consider legislating a minimum wage increase for workers in the garment industry. The government is also hoping the increase will end a wave of strikes that hit nearly one-fifth of factories last month. Workers unions are seeking an increase of about 50 to 80 per cent, an

While the European Union is expected to open up its markets to duty-free imports from Pakistan next year, the country’s garment industry remains far from ready to grab the opportunity. Garment manufacturers claim the government’s restrictive import policies are blocking their access to new raw materials, which they require to diversify their product lines to take full advantage of the duty-free access under the EU’s Generalised Scheme of Preferences (GSP) Plus scheme. According to the Paki

Brazil has imported more than US$ 5 billion worth of textiles between the period of January and September, 2013, as per the estimates of Brazilian Association of Textile and Apparel (ABIT). According to a statement issued by ABIT, the sector also incurred a loss of 598,000 jobs during the first nine months of the year. As per the ‘Import?metro’, an ABIT indicator marking the value of imports of textiles entering Brazil, the country’s clothing imports grew by 4.5 percent year-on-year in val

The IX International Uzbek Cotton and Textile Fair closed in Tashkent. As a result contracts for purchase of more than 680,000 tons of Uzbek cotton fiber were signed, reported UzA national informative agency. Also contracts for supply of domestic textile products worth more than $1 billion were signed at the fair. Foreign participants of the fair, who arrived in Tashkent expressed great interest in expanding trade, economic and investment cooperation with Uzbekistan. The fair also presented mode