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Nuke power firm chalks up mega investment plan

China National Nuclear Corp (CNNC), the country's largest nuclear power company, plans to invest 800 billion yuan (US$117.6 billion) into nuclear projects by 2020, in line with the country's move to accelerate the development of the industry. Total investment in nuclear power ...

Rig slowdown may not avert U.S. gas glut

HOUSTON - U.S. energy companies have slashed natural gas drilling activity in the face of plummeting prices, but that may not be enough to avoid a looming supply glut caused by anemic industrial demand and swelling imports. As with everything, the U.S. natural gas supply and ...

World oil production potential weakening: Total

LONDON - The oil price collapse has weakened the industry's capacity to increase output and future production may top out at a lower level than earlier expected, the chief executive of major oil company Total (TOTF.PA) said. Christophe de Margerie said that world oil output may ...

Oil industry locked in boom and bust

LONDON - After oil prices crashed to $10 a barrel in 1998, they more than tripled two years later as lower investment and higher demand strained supply. The signs are the industry, now reeling from a $100 crash, is still locked in a cycle of boom and bust. A difference this time ...

OPEC should cut oil supply if demand slow: Iraq

DOHA - OPEC should look to reduce oil supply further if demand is insufficient to absorb supplies, Iraq's oil minister said on Tuesday. "If there is not sufficient demand for OPEC crude we will have to consider a reduction," Oil Minister Hussain al-Shahristani told reporters on ...

British oil firm eyes oil potential in Uganda

LONDON, Feb 17 - Uganda, expected to become an oil producer next year, could be a significant supplier in future, an official from a company working in the African nation said on Tuesday. British oil companies Heritage Oil (HOIL.L) and Tullow oil (TLW.L) work in exploration ...

China to enhance natural gas imports from Central Asia

Next year, China will import 17 billion cubic meters of natural gas from Central Asian countries through a pipeline project designed to link up Caspian Sea gas reserves with energy-hungry China, the China Petroleum Daily said Friday. The China-Central Asia gas pipeline is China's ...

China energy expo attracts worldwide attention

Over the last three days, companies and government officials from China and abroad have converged in Taiyuan, the capitial of coal-rich Shanxi Province, to share ideas and expand business in the country's new energy sector amid energy and environmental concerns. The three-day ...

China lends Russia $25 billion to get 20 years of oil

MOSCOW - China has agreed to lend Russian oil companies $25 billion in return for supplies from huge new East Siberian oilfields that will power its economy for the next two decades. Russia's state oil champion Rosneft (ROSN.MM) and pipeline monopoly Transneft (TRNF_p.RTS) on ...

Exxon Mobil reserves increases 0.4% in 2008

HOUSTON, Feb. 16 -- Exxon Mobil Corp., the world's largest oil company, announced on Monday that its proved reserves base in 2008 increased 0.4 percent to the equivalent of 22.8 billion barrels of oil, enough to sustain current production levels for 15.3 years. "Exxon Mobil ...

Use of forex reserves for energy fund studied

BEIJING, Feb. 17 -- China is considering using part of its huge foreign exchange reserves to set up a fund for overseas energy exploration and acquisitions as part of a state plan to encourage offshore expansion, the nation's top oil producer said Feb.16,2009. China will also ...

Exxon talking to Gazprom on Sakhalin gas exports

LONDON, Feb 16 - U.S. oil major Exxon Mobil (XOM.N) remains in talks with Russian gas export monopoly Gazprom (GAZP.MM) about the possible export of gas from Exxon's Sakhalin-1 oil and gas project in east Russia, a senior executive said on Monday. "We continue to talk to them ...

Trade and energy top Obama agenda in first Canada trip

Trade, energy and the global economic crisis will top the agenda of U.S. President Barack Obama's visit to Canada on Thursday, his first foreign trip since taking over the White House last month. Concerns about U.S. trade protectionism and plans to fight climate change will also ...

Galp oil product sales up 13 percent in Q4

LISBON, Feb 16 - Portuguese oil firm Galp said on Monday sales of refined products rose nearly 13 percent in the fourth quarter from a year earlier to 4.3 million tonnes, after the incorporation of Agip's fuel distribution network. Sales were also up 12.4 percent when compared ...

Clean Air Power wins Australian natural gas bus deal

LONDON, Feb 18 - Clean Air Power (CAP) (CAPC.L) said its U.S. components business had won the first part of a deal worth about $480,000 to supply gas injectors to an Australian manufacturer of parts for natural gas-powered buses. AIM-listed CAP, which develops technology allowing ...

E.ON Ruhrgas to explore more offshore Egypt gas

FRANKFURT, Feb 18 - German gas market leader E.ON Ruhrgas (EONGn.DE) has bought a 29 percent stake in the NW Demiatta offshore exploration licence from Shell Egypt N.V. (RDSa.L) in the Nile Delta, it said on Wednesday. The licence is operated by Shell Egypt N.V. (61 percent), E...

RPT-PKN, PGNiG may jointly buy an oil company-paper

WARSAW, Feb 19 - Poland's largest oil refiner, PKN (PKNA.WA), and the country's dominant gas group, PGNiG (PGNI.WA), plan to jointly buy a foreign company with access to oil, the PGNiG chief executive said in the daily Rzeczpospolita on Thursday, . "Earlier announcements and ...

Oil price to limit output rise in the Americas

CALGARY, Alberta- Oil production in the Americas is expected to climb only slightly this year with previous outlooks for Canada and Brazil looking too rosy after a collapse in crude prices turned an industry boom to bust. Production in the Americas looks set to rise in 2009 by a ...

Libyans gather to decide on Gaddafi's oil plan

TRIPOLI- Hundreds of thousands of Libyans gathered on Wednesday to discuss the proposal by their leader Muammar Gaddafi to disband the government and allow the country's oil wealth to flow straight to the people. "Libyans, this is your historic opportunity to take over your oil ...

OPEC should seek stable oil prices: U.S. energy secretary

WASHINGTON - U.S. Energy Secretary Steven Chu said on Wednesday he will encourage OPEC to promote stable crude oil prices, as the producer group prepares for its March 15 meeting. "Price stability for oil prices is good around the world. Every country would want price stability," ...

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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