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Shell says still happy to invest in oil at $50 per barrel

ISTANBUL - Royal Dutch Shell Chief Executive Jeroen van der Veer said on Thursday investing in oil projects could still be attractive with the price of $50 a barrel if taxes and royalties on oil production are not too high. Executives and officials of oil producing countries have ...

OPEC president: further oil output cut likely

ALGIERS -- The Organization of Petroleum Exporting Countries (OPEC) Thursday said it will announce further oil output cut at the end of this month if global oil prices continue falling down, Algerian news agency APS reported. Algerian Minister of Energy and Mines Chakib Khelil, ...

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 ...

Oil rebounds to near $56

SINGAPORE - Oil rose near $56 a barrel on Tuesday, rebounding from a near 22-month low on stronger U.S. industrial output data, but fears that the global economic slump was further trimming fuel demand kept a lid on gains. U.S. industrial output rebounded by a stronger-than...

Interior Dept sets rules for oil shale program

WASHINGTON - The U.S. Interior Department on Monday released the final regulations creating a commercial oil shale program that could produce up to 800 billion barrels of recoverable oil the western United States. The department proposed rules for the oil shale program in July, ...

Global ethylene & propylene markets from 2003 to 2013

Chemical Market Associates, Inc. (CMAI) has announced the completion of the 2009 World Light Olefins Analysis, an annual global study that covers the future outlook for supply, demand, production, capacity, trade, pricing and profitability of the global ethylene & propylene ...

Oil pipeline fire kills six Nigerian workers-Shell

ABUJA - Royal Dutch Shell said on Monday six Nigerian contract workers died last week after an oil pipeline fire in the Niger Delta. The accident occurred on Thursday while the workers were repairing the Shell-operated Amukpe pipeline in Delta state in southern Nigeria. "The fire ...

Hebei Iron inks alliance with 12 steelmakers in 50 days

Hebei Iron & Steel Group, one of China's largest steelmakers, has signed alliance agreements with 12 private iron and steelmakers in the past 50 days, Beijing Business Today reported Tuesday. After forming an alliance with the first five private steelmakers last November, Hebei ...

OPEC further cuts world oil demand forecast

LONDON - OPEC on Monday cut its forecast for world demand for its crude oil next year due to the slowing global economy, building a case for further oil supply cuts to prop up prices. In a monthly report, OPEC said it expected 2009 demand for its oil to average 30.92 million ...

Sumitomo Rubber plans tyres free of oil by 2013

TOKYO - Sumitomo Rubber Industries Ltd, Japan's second-biggest tyre maker, plans to start selling in Japan tyres that include no petrochemical materials by 2013, a company spokesman said on Tuesday. The company has set a medium-term strategy to fight climate change by introducing ...

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, ...

U.S. coal boom slows in 2008, '09 a question

NORFOLK, Virginia - After struggling to keep up with soaring coal exports through the first 10 months of this year, U.S. coal shippers now face the prospect of a serious slowdown due to the worldwide economic slowdown. "We're seeing a little bit of a dip," Jeff Yates said in his ...

Arkema's subsidiary to divest Sanitary & Heating Pipes business

Alphacan, a subsidiary of the Arkema Group, has recently proposed to divest its Sanitary and Heating Pipes business to the French company COMAP, a subsidiary of the Dutch group Aalberts Industries NV, according to a release. Alphacan's Sanitary and Heating Pipes business is ...

Aramco waiting to hear from oil tanker pirates

DUBAI - Saudi Aramco hopes to hear from pirates who hijacked a supertanker with an oil cargo worth $100 million later on Wednesday, a spokesman for the company's shipping arm said. "We are still waiting for contact," the spokesman for Aramco's Dubai-based unit Vela International ...

Oil falls to 22-month low on demand, stock build

NEW YORK - Oil prices dropped to 22-month lows on Wednesday as U.S. inventories rose and demand weakened due to the global economic slowdown. U.S. crude settled down 77 cents at $53.62 a barrel, the lowest settle since January 22, 2007. Earlier, prices had risen slightly on ...

Oil could fall to $40/bbl in 2009

NEW YORK - Oil prices could fall to as low as $40 a barrel next year as more efficient refining capacity comes online and production costs for some regions fall, Deutsche Bank said in a Wednesday research note. "The most underappreciated issue is the combination of poor demand ...

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 ...

New enzyme could assist production of PMMA from sugars

Scientists at Germany's University of Duisburg-Essen and the Helmholtz Centre for Environmental Research (UFZ) have found an enzyme which could be used for the biotechnological production of a precursor of MMA. This development could, in future, assist the manufacture of ...

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 ...

Top oil exporters' ship plans unchanged after hijack

DUBAI - Three of the Middle East's top oil exporting nations, Saudi Arabia, Iran and Kuwait, have no immediate plans to alter their crude oil shipping operations despite an increased threat from pirates off East Africa. Somali pirates over the weekend hijacked a Saudi supertanker ...

Latest World News

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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