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Helix Energy to shed entire oil and gas business

March 8 - Helix Energy Solutions Group Inc (HLX.N), an operator of offshore oil and gas facilities, said it is looking to divest its entire oil and gas business. Helix intends to become a contracting services company focused on deepwater well intervention and subsea construction, ...

China's thirst for energy fuels westward expansion

March 11 - China's insatiable demand for energy to power its economy has made it a serious contender in the fight for control over vast energy resources in its thinly populated and impoverished western backyard. Lying on some of the world's biggest oil and gas reserves, ...

Alberta backtracks on oil and gas royalties

March 11 - The government of Alberta said on Thursday it will cut oil and gas royalties in an about-face after nearly three years of bitter complaints from the energy sector and sinking political fortunes for the ruling party. The government of Premier Ed Stelmach said the ...

GE orders for Australian gas project top $1 bln

BOSTON, March 3 - General Electric Co (GE.N) said Chevron Corp (CVX.N) chose it to supply power-generation and undersea equipment to a huge natural gas development planned off the coast of Australia, pushing the U.S. conglomerate's forecast equipment revenue from the project to ...

Mobil Oil companies to pay 32.2 mln USD to resolve royalties in U.S.

WASHINGTON, April 5 - Mobil Natural Gas Inc., Mobil Exploration & Producing U.S. Inc. and their affiliates have agreed to pay the U.S. government 32.2 million U.S. dollars to allegations of underpayment of royalties owed on natural gas produced from federal and American Indian ...

Natural gas output overestimated, shale blamed

April 6 - The U.S. Energy Information Administration is revamping the way it calculates domestic natural gas production after it overestimated output from key producer states Texas and Louisiana, an agency official said on Monday. Rapid changes to U.S. natural gas output ...

Peru seen with $1 billion in green energy investments

April 6 - Peru should get about $1 billion in investments after signing 26 green energy contracts, companies involved said on Monday. The contracts last for 20 years and will generate about 9 percent of current power demand in the Andean country, the government said. The deals, ...

China faces energy challenges in switch to low-carbon economy

BEIJING, April 12 -- China has made significant efforts to pursue energy and resource efficiencies to achieve sustainable development, while the nation still faces challenges in the transition to a low-carbon economy and needs integrated solution systems. "China is already a ...

Arctic oil drilling threatens Norway government

OSLO,Apr 13 - A classic battle pitting the oil industry against environmentalists and fishermen in Norway's Arctic seas is set to intensify on Thursday when the most thorough environmental study of the project to date is released. Extracting oil from the chilly waters off the ...

Nigerian military issues alert on plans to attack Shell facilities

LAGOS, April 12 - Nigerian military operating in the oil rich Niger Delta region has issued an alert on a plot to attack a facility of Shell Petroleum Development Company (SPDC) in the region. The military spokesman in the region Timothy Antigha disclosed this in a statement ...

Russian president calls for deepening energy ties with Norway

OSLO, April 26 - Russian President Medvedev Monday called for deepening relations with Norway through energy cooperation. Addressing a group of business people in Oslo, Medvedev said that his country will count on the further deepening of what he called a strategic partnership in ...

PetroChina's Q1 profit surges 71.2% on oil price spike

SHANGHAI April 28-Major oil and gas producer PetroChina posted a 71.2% year-on-year surge in its first-quarter net profit to yuan (CNY) 32.5bn ($4.76bn), largely due to spikes in crude prices and better demand for petroleum and petrochemical products. In a filing to the Shanghai ...

PetroChina's net profit up 71.2% in Q1 2010

BEIJING, April 27 - PetroChina Company Limited (PetroChina), China's largest oil and gas producer, said Tuesday its net profit for the first quarter rose 71.2 percent year on year due to soaring crude oil prices and rising domestic demand. Net profit totaled 32.492 billion yuan ...

Sinopec to buy LNG from ExxonMobil

May 13 -China's second largest oil company, Sinopec Corp, yesterday signed its first purchase deal for liquefied natural gas (LNG) with US oil major ExxonMobil, in a move to expand its share in the rapidly growing domestic gas market. The two companies entered into a preliminary ...

White House says BP's new operation to start soon

May 30-President Barack Obama was briefed by administration officials and discussed BP's efforts to put machines into place that will be used to cut the well's riser pipe so a containment device can be used to try to siphon off most of the leaking oil and gas up to a tanker ship ...

Oil firms have lessons to learn from Gulf of Mexico spill

p>The Gulf of Mexico oil spill will be an important lesson for the domestic oil industry and environmental protection experts, who are now calling for stronger offshore drilling regulations to prevent future disasters. Chinese experts have been closely monitoring the recent ...

China expects refined oil output to hit 310 mln tonnes by 2015

China expects its annual refined oil output to reach 310 million tonnes by 2015, Zhang Guobao, head of the State Energy Administration, said Thursday in Beijing. China will add about 100 million tonnes to its oil refining capacity during the 12th Five-Year Program which runs from ...

China joins elite offshore energy club

China has joined the world's elite club of offshore oil producers after China National Offshore Oil Corp (CNOOC) announced that its oil and natural gas output surpassed 60 million metric tons in 2010. The country's largest offshore oil explorer's oil and gas production last year ...

Myanmar, Iran to promote economic cooperation

Myanmar and Iran will work to promote economic cooperation through the establishment of bilateral consultations between the foreign ministries of the two countries, said the official newspaper New Light of Myanmar Friday. The memorandum of understanding on the establishment was ...

Changqing oilfield crude oil daily output exceeds 50,000 tons

June 30, PetroChina Changqing Oilfield Company announced its Changqing Oilfield has reached a daily crude oil output of 50,000 tons, a major lift from the previous production capacity. Changqing Oilfield, China's second largest oilfield after Daqing Oilfield, is expected to ...
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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
China's farm product pricing plan shifts to market orientation
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GM China chairman to retire
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Minivans rev up sales for GM
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Chinese leader calls for more marine power
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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
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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