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Nigeria pipeline attack forces cut in oil output

LAGOS - Rebels from Nigeria's southern Niger Delta blew up a Royal Dutch Shell oil pipeline on Monday, forcing the firm to cut production and helping keep world oil prices near record highs. The attack was the latest in a campaign by militants that has cut oil output in the world...

Iraq replaces southern oil chiefs in major shake

BASRA, Iraq - The Iraqi government has replaced some of the top officials in state-owned oil companies in southern Iraq, tightening its grip on an industry that fuels the economy but has been outside of its direct control. The shake-up, which has largely escaped public notice, ...

Oil above $133 on Nigeria, North Sea

LONDON - Oil rose above $133 on Monday as long-term supply concerns lingered and fresh production problems appeared in Nigeria and Norway. U.S. crude rose 95 cents to $133.14 a barrel by 11:28 a.m. EDT (1528 GMT). London Brent crude rose $1.47 to $133.04. Oil prices have risen ...

Statfjord leak halts 138,000 bpd of N.Sea oil

OSLO - An oil spill at the large Statfjord oilfield in the North Sea shut about 138,000 barrels per day of production on Saturday and triggered the evacuation of workers, but the leak has been stopped, operator StatoilHydro said. "It was a serious situation, but it is now under ...

US glycerine supply segments divide

HOUSTON --Supply conditions are increasingly divergent between vegetable and tallow US refined glycerine segments, several producers and distributors said on Friday. Behind this emerging scenario is tight supply in the tallow glycerine segment, caused by a drain on the fats...

It's not too early for oil to spoil holiday retail

CHICAGO - It might only be the end of May, but soaring oil and gasoline prices mean retailers already need to be looking ahead to a less-than-cheery holiday season as they decide what to order for that key season. In a study by retail consulting firm WSL Strategic Retail, 60 ...

Statfjord oil clean-up done, StatoilHydro says

OSLO - The clean-up of an oil spill at the Statfjord field in the North Sea has been completed, all workers have returned to the platform, and preparations are under way to restart production, operator StatoilHydro said on Sunday. The leak on Saturday shut down output of about ...

Iran to boost oil production

Tehran -- Iran's deputy oil minister said that Iran will boost its oil output to 4.3 million barrels per day by the end of March 2009, local daily Kayhan International reported on Sunday. Such a rise of oil production owes to some major projects implemented by the oil ministry ...

Why oil prices hit a record high above $135

U.S. crude oil last week hit an all-time high of $135.09 a barrel. Prices have rallied from a dip below $50 at the start of 2007 and this year have risen by around 40 percent from $95.98 a barrel at the end of last year. Adjusted for inflation, oil is well above the $101.70 peak ...

Formosa Petrochemical signs naphtha supply deal with Saudi Aramco

Asia's largest ethylene producer - Taiwan's Formosa Petrochemical Corp (FPC), has signed a contract with Saudi Arabian Oil Co (Saudi Aramco) for naphtha supply in the second half of this year. As per the terms of the contract, Saudi Aramco, the world's No.1 oil producer, will ...

HPCL-Mittal Energy Ltd JV expected to launch by 2011

Guru Gobind Singh Refineries Ltd (GGSRL), the 9 mln tpa refinery being commissioned at Bathinda by a HPCL-Mittal Energy Ltd. JV is expected to launch by 2011. The Rs 18900 crore project, which will make Bathinda one of the major petrochemical hubs in Asia, is expected to be ...

Exemption from consumption tax to make naphtha used as feedtock cheaper in China

China's State Administration of Taxation has issued a regulation to exempt naphtha used as feedstock to produce ethylene and aromatic hydrocarbons, from a consumption tax. Domestic producers and importers will be exempt from the CNY0.2 per liter tax from Jan. 1, 2008 to Dec. 31, ...

British truck drivers to rally against rising fuel prices

LONDON -- Some 1,000 truck drivers across Britain are expected to drive into central London on Tuesday to participate in a rally demanding fuel duty rebates. The drivers said they do not mean to disrupt traffic in the capital city but to demand an "essential" fuel duty rebate and ...

Russia raises natural gas supply to Turkey

ANKARA -- Russia's gas giant Gazprom raised daily natural gas supply to Turkey on Tuesday, the semi-official Anatolia news agency reported. Gazprom raised the amount of natural gas transferred to Turkey to 30 million cubic meters per day, a statement by Gazprom spokesman Sergey ...

Iraq starts repairing refinery pipelines to Baghdad

BAGHDAD - Repair teams started work on major oil pipelines connecting Iraq's largest refinery to Baghdad on Sunday, in a bid to help meet a domestic supply shortfall, a British official overseeing the project said. "This group of pipelines connects north and south Iraq and will ...

New gas refinery inaugurated in Iran

Tehran -- Iran's oil minister Gholam Hossein Nozari Saturday officially inaugurated Masjed Soleiman gas refinery in southwestern province of Khuzestan, Iran Daily reported on Sunday. The refinery can produce one million cubic meters of gas per day, and has the potential to ...

US retail fuel prices reach record highs - EIA

HOUSTON --The Energy Information Administration (EIA) said in its weekly commentary on Thursday that the US average retail price for regular gasoline was up for the ninth consecutive week, hitting another all-time high. The increase in gasoline prices at the pump comes as ...

Dow Europe GmbH Announces Price Increase for Polystyrene Products

Raw material and energy costs for Dow for Polystyrene have steadily increased over the last few months and margins continue to be at unacceptable low levels, according to the company. As a result, Dow Europe GmbH is announcing a price increase across Europe, India, Middle East, ...

OPEC expert says no need for output hike this year

DUBAI - There is no need for the Organization of the Petroleum Exporting Countries (OPEC) to boost output this year, the group's head of research Hasan Qabazard said on Thursday. "I really don't see a need this year" Qabazard told reporters at an energy event in Dubai. Qabazard ...

No meeting before September: OPEC president

ALGIERS - OPEC President Chakib Khelil reiterated that OPEC would not meet to discuss the oil market until its next scheduled gathering in September, the website of the Libyan National Oil Corporation (NOC) reported on Monday. NOC quoted Khelil as saying on a visit to Tripoli on ...

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china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

company

Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

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 ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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