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Americas: Development stalls on Canada's Old Harry oil, gas prospect: analyst

A quarter-mile beneath the Gulf of St. Lawrence in the waters between Quebec and Newfoundland lies the Old Harry formation, an uncharted prospect that could hold some 5 Tcf of natural gas or 2 billion barrels of oil, the largest offshore reserves in eastern Canada. But, despite ...

Americas: Macquarie, Freeport LNG plan to export natural gas from US

Macquarie Group and Freeport LNG said Monday they have agreed to jointly develop and market liquefaction capacity that will allow the export about 1.4 Bcf/d from the existing LNG import terminal in Freeport, Texas. The companies' proposal to export US natural gas is the second ...

Asia: PetroChina looking to sell stake in Beijing gas pipeline unit

Hong Kong and New York-listed PetroChina has put its 60% stake in Beijing Natural Gas Pipeline Co. up for sale for Yuan 18.87 billion ($2.83 billion), according to a notice published on the China Beijing Equity Exchange Monday. PetroChina is looking to sell its stake to a Chinese ...

CNPC, Saudi Aramco sign MOU

China National Petroleum Corporation, parent of Asia's largest oil and gas producer PetroChina, has signed an agreement with Saudi Aramco for further cooperation, the China Petroleum Daily said Wednesday. The memorandum of understanding (MOU) was signed during a visit by the ...

Asia: Japan Itochu takes part in Vietnam ethanol project with PetroVietnam

Japan's Itochu said Monday it will participate in a bio-ethanol fuel production business with PetroVietnam Oil, a subsidiary of state-run oil and gas company PetroVietnam, in Binh Phuoc Province of Southern Vietnam. This follows its participation in similar projects in Brazil and ...

Asia:Indonesia offers 3 more oil, gas block to investors

In a bid to stem the steady decline in production Indonesia has awarded three oil and gas blocks to several local and foreign firms, the energy and mineral resources ministry said on Monday. Investors are to spend a total of $27.7 million for exploration which includes a 3.5 ...

Americas: Canadian government plans drilling ban in part of Eastern Arctic

Oil and natural gas activity in all or parts of Lancaster Sound in the Eastern Arctic will be prohibited if the Canadian government succeeds in designating the waterway as a marine conservation area. "This ... is basically the elimination of any exploration or resource extraction...

Europe:Energy markets to witness extreme volatility

Ok ladies and gentlemen, I'd like to welcome you to today's broadcast. I've got Rick Rule here and we're going to spend a little bit of time talking about energy. First off, uranium uranium prices had a tremendous move a few years ago, going up from, what? $8 a pound to well over ...

Asia: Indonesia to review tax, other incentives for refinery projects

Indonesia is reopening discussions this week on the tax, financial and other incentives it will give investors and oil producers ready to help the country build additional refineries so that it can become self-sufficient and less reliant on oil product imports. "We will meet with ...

Middle East:Qatar celebrates as it becomes largest LNG producer

Qatar celebrated as it became the world's largest producer of natural gas marking the production capacity milestone of 77 million tones per annum (MTA). The event was celebrated in Ras Laffan Industrial City at a ceremony under the patronage and in the presence of His Highness ...

Great Wall Motor sales up 77pct in 2010

Chinese private-run automaker Great Wall Motor Co on Thursday said it posted strong annual sales growth of 77 percent, as it manufactured 397,300 vehicles last year. Its growth pace far exceeded that of the entire industry, it said in a statement. Vehicle sales in the world's ...

Volvo Cars Reverses Sales Slump in 2010

Volvo Cars saw plus figures in sales in 2010 after two years of decline, reported the Swedish Industry Daily on Friday. The Gothenburg-based company sold 373,525 cars last year, 11.2 percent more than that of 2009. But the figure is still not at the same level as in 2008 before ...

Volkswagen 2010 Sales in China Up 37%

Europe's largest carmaker, Volkswagen AG, said Friday that it had sold 37 percent more vehicles on the Chinese mainland and Hong Kong in 2010, compared to sales in 2009. With 1.92 million vehicles delivered to its customers last year, Volkswagen had performed beyond expectation ...

AgBank, Minsheng Plan Fund Raising

Agricultural Bank of China and China Minsheng Banking are planning to raise funds through selling shares. It comes as China's banking sector prepares to meet stricter capital rules amid mounting concerns about bad loans. Agriculture Bank says it is seeking approval from ...

China Sees Explosive Growth in Micro-Credit Companies

China saw explosive growth in micro-credit companies in recent years, according to a blue paper issued Thursday. The number of micro-credit companies increased by 4.7 fold to 2,348 by the end of October 2010, from less than 500 in 2008, the China Micro-Credit Institution Joint ...

SG Automotive, CSR Sign Agreement to Develop New Energy Vehicles

Liaoning SG Automotive Group (SG), China's largest bus manufacturer, signed an agreement with CSR Zhuzhou Institute Co. Thursday to jointly develop new energy vehicles. The move was the latest instance of a "combination of giants" and is part of China's efforts to boost the ...

Ping An: No Fundraising Plan after Shares Slump 4%

Related: Chinese Shares Drop for 2nd Day on Ping An Fundraising Rumor A spokesman for the Ping An Insurance (Group) Co., China's second largest insurer, said he did not know about any plan for the company to raise funds, after a rumor caused a 4.14 percent slump in the insurer's ...

FedEx Express Opens New Route between China and India

United States-based express transportation operator FedEx Express Wednesday announced the opening of a new line from South China's Guangzhou to India's New Delhi and Mumbai to further reinforce the connections between the two emerging countries. The new line will enable direct ...

Tianjin Port's Annual Throughput Hits 400m tonnes

North China's Tianjin Port had its annual throughput exceeded 400 million tonnes in 2010, becoming the first port in northern China to do so, Tianjin Port Group said Wednesday. Tianjin Port now has trade relationship with more than 500 ports in 180-plus countries and regions.

Dell to Buy Information Security Firm SecureWorks

Dell Inc. on Tuesday announced that it has agreed to buy SecureWorks, a provider of information security services. SecureWorks, headquartered in Atlanta in the U.S. state of Georgia, delivers security services to clients over the Internet. Founded in 1999, the company now has ...
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