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CNOOC announces new oil discovery in Bohai Bay

May 5 - China National Offshore Oil Company Limited (CNOOC Ltd.), China's largest offshore oil and gas producer, announced Monday that the company had made a new oil discovery in east China's Bohai Bay. The Penglai(PL) 9-1 well, at a depth of about 29 meters, yielded 540 barrels ...

Crude prices decline as inventories rise more than expected

NEW YORK, April 21 -- Oil prices declined on the New York market on Wednesday after the U.S. government said oil and gas supplies grew more than expected last week. U.S. crude oil inventories rose 1.9 million barrels last week, against the forecast for a slight drop, the Energy ...

Obama opens new oil drilling offshore in climate drive

Apr 01 - President Barack Obama unveiled plans on Wednesday for a limited expansion of U.S. offshore oil and gas drilling in an effort to win Republican support for new proposals to fight climate change. Opening up parts of the U.S. Atlantic coast, Alaska and possibly offshore ...

DRC aims to attract energy investment with oil code

KINSHASA, March 31 - Democratic Republic of Congo hopes to make its oil sector more attractive to foreign energy firms by offering competitive contracts and speeding the process for awarding blocks, according to energy ministry recommendations seen by Reuters. The proposals are ...

JKX Oil & Gas says to nearly double production by 2011

LONDON, March 30 - Oil and gas producer JKX (JKX.L) reported a 6 percent rise in production in 2009 and promised a year of growth as it looks to nearly double its production by 2011. JKX said it plans to invest $230 million in its Russian and Ukrainian operations in 2010, ...

Consol to buy Dominion gas assets for $3.48 bln

NEW YORK, March 15 - Consol Energy Inc (CNX.N) agreed to buy Dominion Resources Inc's (D.N) Appalachian natural gas properties for $3.48 billion in cash, giving Consol a leading position in the growing Marcellus Shale field. Consol's shares fell more than 9 percent on news it ...

Devon chief says natgas market out of balance

March 22 - Problems in the U.S. economy and a rush to boost output from new wells have caused an imbalance in the supply and demand for the fuel, the head of oil and gas company Devon Energy (DVN.N) said on Monday. Natural gas prices in the United States have tumbled by about one...

Portuguese PM in Libya for energy talks

TRIPOLI, March 21 - Portuguese Prime Minister Jose Socrates arrived on Sunday night in the Libyan capital of Tripoli, the first leg of a North African tour that aims to boost energy ties with the country's major oil suppliers. Besides Libya, Socrates, who is accompanied by a high...

Suncor sells Alberta gas properties for $235 million

March 24 - Suncor Energy Inc (SU.TO), Canada's largest oil and gas company, said on Wednesday it sold a collection of Alberta natural gas properties for C$235 million ($230 million) as it winnows out surplus assets following its C$22.7 billion acquisition of Petro-Canada last ...

Crocotta Energy swings to Q4 profit

March 25 - Canada's Crocotta Energy Inc (CTA.TO) swung to a fourth-quarter profit, as stabilizing commodity prices propped up oil and gas revenue. The oil and natural gas company posted net income of C$3.3 million, or 5 Canadian cents a share, compared with a loss of C$2.5 ...

Indian PM eyes further energy cooperation with "reliable" Saudi

RIYADH, Feb. 29 - Indian Prime Minister Manmohan Singh on Sunday said his country seeks further energy cooperation with Saudi Arabia, terming the Gulf kingdom as "reliable partner" in meeting his country's energy needs. "We believe that conditions are ripe for moving beyond a ...

Iran says can cut energy to Europe, hit enemies

TEHRAN, Feb 29 - Iran could make European countries suffer by cutting off energy supplies and can target any adversary with its missiles, a senior Iranian military official said on Sunday. Iran is locked in dispute with the United States and its allies over its nuclear energy ...

EPA asked to study gas-drilling technique

PHILADELPHIA, March 2 - Dozens of environmental groups have asked urged the U.S. Environmental Protection Agency to study the hydraulic fracturing technique of extracting natural gas, amid concern that it contaminates drinking water with toxic chemicals. The 63 groups, including ...

TG World Energy gets C$7.5 mln loan

Jan 18 - Canadian junior oil and gas company TG World Energy Corp (TGE.V) said it has secured a C$7.5 million ($7.28 million) loan from an institutional lender. The proceeds from the facility, which bears 18 percent annual interest, will be used to fund ongoing exploration ...

Nigerian militants say disabled Shell oil pipeline

LAGOS - A Nigerian militant group said on Sunday it had attacked a Royal Dutch Shell (RDSa.L) oil pipeline in the Niger Delta but the Anglo-Dutch company said it had no reports of any such sabotage. The Joint Revolutionary Council (JRC), a coalition of ex-militants and community ...

Russia, Ukraine agree oil deal to avert supply cut

KIEV/MOSCOW, Dec 29 - Ukraine and Russia have signed a deal on oil transit for 2010, allaying fears of supply cuts to Europe, in a deal Ukrainian state energy firm Naftogaz says will require Moscow to pay 30 percent more in transit fees. Russia said on Monday it had agreed terms ...

Russia resumes oil to Belarus refineries, no deal

MOSCOW/MINSK, Jan 4 - Russia said it had resumed flows of crude to refineries in Belarus but it did not clinch a deal to resolve a tense price dispute with Minsk that raised fears oil supplies to European Union countries might be blocked. Russia's foremost energy official, Igor ...

Total in $2 bln shale gas tie-up with Chesapeake

PARIS/LONDON, Jan 4 - France's Total (TOTF.PA) signed a $2.25 billion tie-up with Chesapeake Energy (CHK.N), becoming the latest international oil company to take advantage of low gas prices to snap up shale gas assets. Total said it would take a 25 percent stake in Chesapeake's ...

Russia halts oil flows to Belarus refineries

MOSCOW - Russia has halted oil supplies to Belarussian refineries after failing to agree terms for 2010, traders said on Sunday, threatening a repeat of a dispute which disrupted supplies to elsewhere in Europe three years ago. Deliveries to Belarus refineries were halted after ...

U.S. states strive to regulate shale gas industry

PHILADELPHIA, Dec 30 - As U.S. energy companies scramble to mine natural gas from shale deposits, state regulators are struggling to keep pace amid criticism that they lack the resources to enforce environmental laws. Shale gas trapped deep underground is considered one of the ...
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China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
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China's farm product pricing plan shifts to market orientation
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IMF chief warns of risks to recovery
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GM China chairman to retire
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industry

Minivans rev up sales for GM
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Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
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Chinese leader calls for more marine power
Chinese leader calls for more marine power
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sports

Lucrative golf industry lures stiff competition
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Two models stand beside golf equipment and bags at a recent golf ...
Yao's gift of sport for all
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Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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