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S Korean company seeks investment in mineral exploration in Myanmar

YANGON, Feb. 1 -- A South Korean leading private company is seeking investment in mineral exploration in a major mine in Myanmar's northern Shan state, the local weekly Yangon Times reported in this week's issue. Confirmed by the South Korean Embassy here, the Korean HC Company ...

Main Mexican oil ports closed due bad weather

MEXICO CITY - Mexico's top three crude oil exporting ports, Coatzacoalcos, Dos Bocas and Cayo Arcas -- were closed on Saturday due to bad weather, the government said. Dos Bocas had been closed since Friday as fog, high waves and strong winds approached the Gulf of Mexico coast. ...

Refinery talks extended, strike delayed

HOUSTON - The United Steelworkers Union said on Saturday it would extend by 24 hours talks for a new labor contract for U.S. refinery workers, delaying a possible strike that could affect over half of U.S. refining capacity. "Sufficient progress has been made in our deliberations ...

OPEC will cut supply further if needed: Sec Gen

DAVOS, Switzerland - OPEC will cut oil output further at its meeting in March if needed to balance the market, the group's secretary-general told Reuters at the World Economic Forum on Friday. The comments are a strong indication the Organization of the Petroleum Exporting ...

Oil up as OPEC cuts counter sliding demand

NEW YORK - Oil futures rose on Friday after OPEC signaled it may deepen its record output cuts, countering a U.S. report showing energy demand shrinking more quickly than previously thought. U.S. crude rose 24 cents to settle at $41.68 a barrel after climbing as high as $43.44. ...

Nigeria's Oando relaxed about oil price, finance

DAVOS, Switzerland - Nigeria's top fuel retailer and gas distributor Oando Plc (UNIP.LG) is confident it will secure financing for ambitious expansion plans and says the projects are profitable at current oil price levels. As projects elsewhere are scrapped or delayed because of ...

Two major oilfields in NW China aims output growth

Developers of two key oilfields in Xinjiang Uygur Autonomous Region have pledged to further tap oil and gas reserves and boost their production capacity in the coming years. Karamay Oilfield is expected to realize an annual crude oil output of 16 million tonnes and 10 billion ...

Israeli gas find raises hopes in Cyprus

NICOSIA, Jan 22 - Israel's discovery of large natural gas deposits off its Mediterranean coast is an encouraging indication that similar finds are possible off nearby Cyprus, a senior Cyprus energy official said on Thursday. A U.S.-Israeli exploration group led by Noble Energy ...

CISA moves to trim ore imports

China's iron ore imports this year will not exceed last year's, with domestic ore production touching 1.1 billion tons, the China Iron and Steel Association (CISA) said. Shan Shanghua, secretary- general of CISA, said China would recycle more steel scrap to reduce iron ore ...

China Sinopec says 2008 oil output up 1.8 pct

HONG KONG, Jan 22 - Top Asian refiner Sinopec Corp (0386.HK) said on Thursday it pumped 1.8 percent more oil in 2008 and refined 4.5 percent more crude, despite an expected loss at its refining arm in the second half of 2008. That lagged its own target of 2.2 percent growth in ...

San Miguel eyes Philippine diesel power plant

MANILA, Jan 20 - Phillippine food and beverage group San Miguel Corp (SMCB.PS) said on Tuesday it was interested in buying the government's 620-megawatt diesel power plant in northwestern Bataan province in line with its move into heavy industry. San Miguel told the stock ...

China's energy sector rises to global economic challenge

BEIJING, Feb. 16 -- The deepening financial crisis has put China's energy industry in a tougher situation: energy demand is dwindling, production is sagging, stockpiles are rising, and energy companies are competing to cut prices. Meanwhile, the nation's giant oil and electricity ...

OPEC weekly oil price keeps fluctuating

The weekly average prices of the Organization of Petroleum Exporting Countries (OPEC) declined slightly to 74.86 U.S. dollars per barrel last week, in a continual fluctuation within narrow range, the Vienna-based cartel said Monday. In the five trading days of last week, OPEC oil ...

Chinese rare earth industry defends export cap

China's rare earth industry is defending China's recent decision to cut its rare earth exports, with industry leaders saying the move was out of concern for the environment and will not have much effect on foreign access to its supply. China is the world's largest producer of ...

Venezuela says would back OPEC cut if needed

CARACAS - Venezuela would support a production cut at OPEC's meeting in March if needed and does not see a need for an extraordinary meeting by the group, Oil Minister Rafael Ramirez told reporters on Sunday. The Organization of the Petroleum Exporting Countries, or OPEC, has ...

Dana Petroleum to buy Bow Valley for $177 mln

LONDON, Feb 16 - Dana Petroleum (DNX.L) has agreed to buy Canada-based Bow Valley Energy (BVX.TO) for $177 million, adding to a trend of financially strong North Sea players acquiring rivals hit by low oil prices and financing problems. Dana Chief Executive Tom Cross said in a ...

S.Korea refiners to export more jet fuel in Feb

SEOUL, Feb 16 - South Korean refiners will raise exports of jet fuel in February by around 20 percent from last month, in line with less demand for heating oil from local utilities, a Reuters survey showed on Monday. The country's four refiners -- SK Energy (096770.KS), GS Caltex ...

StatoilHydro says Heimdal back up after repairs

OSLO, Feb 16 - Norwegian oil and gas producer StatoilHydro (STL.OL) said on Monday that its Heimdal field in the North Sea was in operation again after repairs, with both gas production and exports back to normal levels. "We started production and gas export on Saturday evening," ...

PRESS DIGEST-Indonesian Newspapers - Feb 16

JAKARTA POST - GOVERNMENT TO INTENSIFY CONSUMPTION OF LOCAL PRODUCTS The government is intensifying efforts to bolster the domestic market by finalising a regulation to mandate the consumption of local products, for example by civil servants, to help local industries weather the ...

Circle Oil makes third Moroccan gas disocvery

LONDON, Feb 15 - AIM-listed oil and gas exploration company Circle Oil (COPU.L) has made its third successful gas discovery in Morocco, the company said on Sunday. The KSR-8 well at its Sebou permit in the Rharb Basin is being completed as a potential producer, Circle said. "This ...

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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