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Iraq spared worst of credit crisis, exposed to oil drop

BAGHDAD - By any measure, Iraq has had a terrible time since 2003. Yet when it comes to the global financial crisis, Iraq may for once be in a privileged position. Tens of thousands of Iraqis have died in five years of rampant bloodshed. Much of the country's public works and ...

AkzoNobel Strengthens Protective Coatings Portfolio

AkzoNobel has strengthened its world-leading Marine & Protective Coatings portfolio following the acquisition of the Enviroline business from Floridabased Industrial Environmental Coatings Corporation. Enviroline is a specialist supplier of high performance, corrosion-resistant ...

India oil min to visit Russia, seek energy assets

NEW DELHI - India's oil minister Murli Deora will visit Russia early next month and seek Moscow's help in securing stakes in energy assets there, Indian government officials said on Monday. India, Asia's third-largest oil consumer, and its larger rival China have both been ...

Financial crisis hits global oil investment

Nov 13 - The growing financial crisis and plunging energy prices have forced oil companies to scale back spending and delay projects, with expensive ventures in the Canadian oil sands hardest hit. Below is a list of projects that have been delayed or scaled back in recent months, ...

Chevron starts Blind Faith oil production

NEW YORK - Chevron Corp's (CVX.N: Quote, Profile, Research, Stock Buzz) Blind Faith project in the deepwater Gulf of Mexico began operations on Wednesday, Chief Executive David O'Reilly said. Initial production from Blind Faith, which was delayed earlier this year because of ...

Strong storm to hit Vietnam's south, casualties feared

HANOI - A strong tropical storm is expected to slam into Vietnam's southern coast late on Monday, the government said, warning of risks to lives and property. Storm Noul was moving fast and its damage could be substantial, especially as it would land in Vietnam's Mekong Delta, ...

Palin, Alaska grapple with lower crude prices

ANCHORAGE, Alaska - Falling oil prices will take a bite out of Alaska's state budget and put a damper on oil-field investment, Gov. Sarah Palin told a conference of major North Slope oil operators on Wednesday. Palin, the Republican party's vice-presidential nominee for the ...

StatoilHydro CEO says oil industry risks rising

OSLO - Norwegian oil major StatoilHydro (STL.OL: Quote, Profile, Research, Stock Buzz) said on Tuesday the oil and gas industry was facing its gloomiest outlook in years and blasted oil services companies for charging top dollar for often sub-quality work. Chief Executive Helge ...

Gazprom sees oil decline, eyes Siberia gas with BASF

NOVY URENGOI, Russia - The world will face oil supply shortages sooner than expected as producers scale back investment due to the financial crisis, the head of Russian energy giant Gazprom (GAZP.MM: Quote, Profile, Research, Stock Buzz) said on Wednesday. Gazprom Chief Executive ...

Exploration costs rise in still-busy oil industry

SAN FRANCISCO - Oil and gas companies hammered by plunging energy prices have seen no relief from exploration and production costs, which rose 5 percent in just six months this year, according to a leading consultancy. Delays and cancellations of extraction projects have made ...

Obama's energy secy to push renewables, less oil

WASHINGTON - The change promised by U.S. President-elect Barack Obama will extend to the Energy Department, where the next energy secretary is likely to focus more than ever on renewable and alternative energy sources and less on traditional fossil fuels like crude oil. Steven ...

Canadian oil firms wait on job cuts

CALGARY, Alberta - Global economic turmoil and skidding oil prices have yet to cause Canadian oil companies to resort to large-scale job cuts but harder measures will be coming if the industry's prospects don't improve. They are struggling with low oil and natural gas prices and ...

Canadian oil firms make cautious spending cuts

CALGARY, Alberta - EnCana Corp and Petro-Canada moved to cut 2009 capital spending on Thursday to cope with falling commodity prices and market turmoil, but they left themselves enough room to change plans quickly in case the economy swings to the better, or worse. After years of ...

"Reasonably priced" oil gone in 25 years

HOUSTON - A majority of oil and natural gas industry executives said the United States will run out of "reasonably priced" oil in the next 25 years, according to a survey released Wednesday by professional services firm Deloitte LLP. Fifty-three percent of 52 director-level or ...

Chief to go as CNOOC posts results

China's top offshore oil and gas producer CNOOC Ltd said its long-time chief executive is to be replaced by its president, as it posted its second-best interim profit, fueled by higher crude oil prices and a rise in production. Fu Chengyu would relinquish his chief executive ...

Crude imports to pour in through Dalian

The country's largest crude oil wharf has been put into operation in Dalian Port, Northeast China's Liaoning Province, the official China News Service reported Wednesday. The crude oil wharf is jointly invested by Dalian Port and China National Petroleum Corporation (CNPC), Asia...

CNOOC and BP in talks on sharing production

CNOOC Ltd and BP Plc are in talks on a production-sharing agreement in the South China Sea, the chief executive officer of China's biggest offshore energy explorer said. "We are talking about it," Yang Hua said after a media briefing in Hong Kong on Wednesday, without giving ...

Sinopec adds 104 mln T oil reserves in Shengli field

BEIJING, Dec 31 - State-owned Sinopec Group said it has added 104.08 million tonnes, or 760 million barrels of proven geological oil reserves to its largest Shengli oilfield. That is the 26th consecutive year that annual new discoveries in the field surpassed 100 million tonnes. ...

Shale gas lures oil majors

China's top three oil majors have tapped into the shale oil and gas area as part of their moves to develop green energy. CNOOC Ltd said on Tuesday it had completed a deal with Chesapeake Energy Corp to buy a stake in a shale oil and gas project in the United States. The deal, ...

Eagle Ford deal to ease China demand for natural gas

Cnooc Ltd's just concluded acquisition of a one-third stake in Chesapeake Energy Corp's Eagle Ford shale project spells a win-win for both parties, according to industry watchers. The move demonstrates China's interest in investing in clean energy as a way of meeting its carbon ...
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China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
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Bill Gates talks nuclear
Bill Gates talks nuclear
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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
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

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China's farm product pricing plan shifts to market orientation
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
GM China chairman to retire
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Minivans rev up sales for GM
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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Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Fourteen countries expected to compete in Cuba's wrestling tourney
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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