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Offshore oilfield service company posts 63 percent growth in first-half profits

BEIJING, Aug. 29 (Xinhua) -- China Oilfield Services Limited (COSL), a listing arm of the country's largest offshore oil producer, CNOOC, recorded 1.1 billion yuan (145.2 million U.S. dollars) in net profits for the first half, a growth of 63.4 percent over the same period last ...

Oil prices dip to US$81.34 a barrel on dispersion of tropical depression in the Gulf of Mexico

Oil prices fell Monday after a tropical depression in the Gulf of Mexico dispersed without causing damage to key oil and gas infrastructure. The tropical depression was feared to develop into a storm capable of damaging oil and gas installations in the Gulf of Mexico, but ...

A new engineering plastic reduces electronic component malfunction due to moisture/oil contact

A new engineering plastic that markedly reduces the risk that electronic components will malfunction due to contact with moisture or oil has been introduced by BASF. The electrical conductive paths of these components can easily be overmolded with the plastic to form a tight seal...

Indonesia to raise fuel prices for industry

JAKARTA, Sept. 26 (Xinhua) -- Indonesia's state-run oil and gas firm Pertamina has decided to increase fuel prices for industrial uses by up to 6 percent beginning Oct. 1 as global oil prices have made new records over the last few months. "We also will raise the price of ...

QPI signs MOU with MOL to develop projects world wide

Qatar Petroleum's international arm Qatar Petroleum International (QPI), has signed an MoU with Hungarian oil and gas major MOL to jointly develop upstream and downstream hydrocarbon and petrochemical projects worldwide. The two companies plan to jointly explore business ...

Indian oil firm urges shifting Palk Bay exploration project

NEW DELHI, Oct. 13 (Xinhua) -- India's oil and natural gas corporation (ONGC) has called for shifting its shallow-water oil exploration project in the Palk Bay, saying the present site falls under marine biosphere, the Press Trust of India (PTI) reported Saturday. "We have only ...

Sinopec starts 20 bln yuan bond issue for pipeline construction

BEIJING, Nov. 13 (Xinhua) -- China Petroleum and Chemical Corp.(Sinopec) on Tuesday started issuing bonds worth 20 billion yuan (2.67 billion U.S. dollars) to finance the construction of a 2,800 kilometer natural gas pipeline from southwestern Sichuan province to Shanghai. All ...

Exxon to put chemical production plants in Mideast, Asia

BEIJING, Nov. 14 -- Exxon Mobil Corp plans to focus its chemical investments in the Middle East and Asia, where production costs are lower and developing economies are expanding more than three times faster than the United States. The company is spending "multi-billions" to ...

Fuel industry warns Congress against energy bill

WASHINGTON (ICIS news)--Energy industry officials charged on Wednesday that a Democrat-sponsored energy bill now nearing a vote in Congress will likely lead to less energy production and could push the US fuels supply system to breaking point. The American Petroleum Institute ...

Petrobras blames U.S., EU barriers for ethanol export fall

RIO DE JANEIRO, Dec. 19 (Xinhua) -- Brazilian state-owned oil and gas giant Petrobras Wednesday blamed the protectionist tariffs charged by the U.S. and EU markets for the fall in the company's ethanol exports. Petrobras Executive Manager of Energy Development Mozart Schmitt ...

US business leaders urge offshore energy action

WASHINGTON (ICIS news)--Congress must find an environmentally friendly way to develop abundant US oil and gas resources in order to ensure energy supply security that is essential to the country's economy, a top business leader said on Tuesday. Thomas Donohue, president of the US ...

Qatar's petrochem output estimated to reach 18 mln tons in 2012

EP2 which would increase Qatar Petrochemical Company (Qapco)'s annual ethylene production capacity to 720,000 tons from existing 525,000 tons expansion plan has been inaugurated in Qatar. With this additional output, Qatar is set to become one of the world's largest producers of ...

China Oilfield Services forecasts 95% net profit rise in 2007

BEIJING, Jan. 29 (Xinhua) -- China Oilfield Services Limited (COSL) said Tuesday its unauditted net profit was forecast to grow about 95 percent year-on-year last year. COSL, a listing arm of the country's largest offshore oil producer, China National Offshore Oil Corp. (CNOOC), ...

Pan American announces new oil reserve in Argentina

BUENOS AIRES, Jan. 29 (Xinhua) -- Pan American Energy, an Argentine-British joint venture, Tuesday gave more information about the finding of new oil and gas reserves in Argentina's southern province of Chubut. Chubut province's Coordination Minister Norberto Yahuar said Tuesday ...

Data about newly-discovered Brazilian natural gas reserve stolen

RIO DE JANEIRO-- Computer equipment stolen early this month from Brazil's state-owned energy giant Petrobras bore information about a newly discovered natural gas reserve, the local press reported Wednesday. The stolen computer contains information about the drill NS-21 used ...

Libya signs deal with Gazprom on oil and gas production

MOSCOW, February 22 -- Libya's National Oil Corporation (NOC) signed on Friday an exploration and production sharing agreement on an oil and gas field with Russian energy giant Gasprom, the Libyan company said. The deposit is located in the Ghadames Basin, near the North African ...

China power sector to boom as oil sector goes slower

BEIJING - China unveiled a raft of targets for its energy and power sectors on Thursday, revealing a plan for a rapid increase in power generation but a much slower rise in the country's oil refining capacity over the next five years. China faces the challenge of keeping its ...

China's stocks end 2.88% higher Monday

Chinese stocks rose 2.88 percent Monday with the benchmark Shanghai Composite Index ending at 2,922.95 after economic data released Saturday suggested stable economic growth. The Shenzhen Component Index gained 3.57 percent, or 444.56 points, to end at 12,905.02. Three major ...

Karpatneftekhim builds PVC plant

The Ukrainian petrochemicals company Karpatneftekhim, part of Russia's Lukoil Group chemicals division Lukor-Neftekhim, has begun construction of a new PVC plant in Kulush, Ukraine. Run by Lukoil's Ukrainian Zao Lukor subsidiary, the Kulush-based firm is investing the equivalent ...

Sinopec keen on Syrian oil field

China's business press carried the following stories on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy. Sinopec keen on Syrian oil field 21st Century Business Herald Chinese oil and gas producer Sinopec Group is considering bidding for ...
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