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Oil prices fall further on economic gloom

NEW YORK- Oil prices fell nearly 1 percent to below $35 a barrel on Wednesday as dealers bet that slumping fuel demand in top consumer the United States has forced crude inventories to an 11-year high. U.S. crude for March delivery slipped 31 cents to settle at $34.62 a barrel, ...

Canadian protesters urge Obama to shun oil sands

OTTAWA - Greenpeace activists scaled a bridge in the Canadian capital on Wednesday and unfurled two large banners urging U.S. President Barack Obama to take a tough stand on Canada's huge oil sands when he visits on Thursday. "Climate Leaders Don't Buy Tar Sands" read one of the ...

Sakhalin Energy to export about 50 LNG lots in '09

SAKHALIN ISLAND, Russia, Feb 18 - Sakhalin Energy will export about 50 cargoes of liquefied natural gas (LNG) this year, with the majority going to resource-hungry Japan, the head of the company said. Russian gas export monopoly Gazprom (GAZP.MM) controls the Sakhalin-2 project, ...

Iraq faces severe risk due to oil dependence: minister

BAGHDAD - Iraq must curb its dependence on oil revenue and promote investment in agriculture and industry or it will face a severe economic crisis if oil prices remain low, the planning minister said on Sunday. Private investment, both from Iraqis at home or abroad and from ...

Nigeria troops repel attack on Agip oil terminal

YENEGOA, Nigeria, Feb 22- Nigerian security forces repelled an attack by gunmen on an oil terminal operated by Italy's Agip in the Niger Delta late on Saturday, a military spokesman said. Gunmen in two speedboats attacked Nigerian troops guarding the Twon Brass oil terminal in ...

Nippon Oil to delay setup of venture with CNPC

TOKYO, Feb 20 - Japan's top refiner Nippon Oil Corp said on Friday it would delay the establishment of an oil refining joint venture with state-owned China National Petroleum Corp (CNPC). A company senior executive will brief on the delay in Tokyo from 4:30 p.m. (0730 GMT), the ...

U.S. stance on OPEC oil cut unclear: Energy Sec. Chu

WASHINGTON - U.S. Energy Secretary Steven Chu on Thursday could not say whether the Obama administration was against another oil output cut by OPEC when the producer group meets on March 15, and that he would have to find out the administration's position. "I would have to look ...

Alberta regulator halts hearing on sour gas wells

CALGARY, Alberta, Feb 19- Alberta regulators suspended a hearing on Thursday on a controversial plan by Petro-Canada (PCA.TO) to drill sour gas wells in southern Alberta after one of its workers began a personal relationship with one of the oil company's employees. The Energy ...

Nighthawk Energy makes gas discovery at Devon oilfield

Feb 19 - U.S.-focused energy company Nighthawk Energy Plc said on Thursday it made a significant gas discovery at its Devon Oilfield waterflood project in Kansas, sending its shares up 12 percent in morning trade. The company said the well resulted in a stabilised open flow test ...

Alaska sees $1.25 billion budget gap on oil price drop

ANCHORAGE, Alaska - Sliding oil prices and production have prompted Alaska officials to forecast a state budget shortfall of $1.25 billion in the next fiscal year instead of the surplus they predicted just two months ago. The dramatic change in state fortunes poses a stiff ...

Oil jumps 14 percent on U.S. inventory drop

NEW YORK - Oil prices jumped 14 percent to top $39 a barrel on Thursday after U.S. government data showed an unexpected fall in crude inventories last week due to lower imports and higher demand. The draw snapped a seven-week streak of crude builds in the world's top consumer, ...

BP leaks shuts 1,300 bpd of Alaska oil output

ANCHORAGE, Alaska, Feb 19-BP Exploration Alaska Inc has shut down a flow line and temporarily stopped 1,300 barrels per day of output from 11 wells at its Prudhoe Bay oil field after a leak was discovered, company and state officials said Thursday. The leak was found Wednesday ...

Brazil sells oil to China, expects $10 bln loan

BRASILIA, Feb 19- Brazil signed an agreement on Thursday to supply China with 100,000 to 160,000 barrels of oil per day at market prices and expects to obtain billions of dollars in Chinese investment to develop its huge oil reserves. The agreement, which will take effect ...

Gas Natural says government backs Fenosa merger

MADRID, Feb 17 - Gas Natural (GAS.MC) said on Tuesday the Economy Ministry had backed a 16.7 billion euro ($21.12 billion) merger with utility Union Fenosa (UNF.MC). The Ministry said it will not raise last week's competition watchdog approval at a Cabinet meeting, thus clearing ...

Big oil encouraged on Iraq deals but doubts remain

ISTANBUL, Feb 15 - Sweetened terms for Iraqi oil deals have encouraged international oil firms competing to work on the country's most prized fields, but executives remain concerned about taking on huge risk for little reward. Iraq has offered to rework contracts on offer for six ...

Sinopec says net profit up 11.5% in first nine months

The China Petroleum & Chemical Corporation (Sinopec), the country's largest oil refiner, said Thursday its net profit hit 56.4 billion yuan (8.4 billion U.S. dollars) during the first three quarters this year, up 11.5 percent year on year. Earnings per share stood at 0.651 yuan ...

North Sea oil minnows at risk of being swallowed

LONDON - Tighter global credit has forced independent oil companies to sell their North Sea assets cheaply and the trend is set to last until oil prices rally. Even oil companies with valuable assets have been hit hard by a plunge in oil prices from a record high of more than ...

Venezuela says sees oil price steady this year

CARACAS, March 8 - World oil prices will likely remain steady this year despite being below their "fair" value, Venezuela's finance minister, who is an ex-president of OPEC, said on Sunday. Venezuela, one of the largest oil exporters to the United States, is a price hawk in OPEC ...

Qatar, Iran see good compliance with OPEC cuts

DOHA - OPEC members have complied well with sharp production cuts agreed since September to shore up falling oil prices, top officials from Qatar and Iran said on Sunday. The Organization of Petroleum Exporting Countries agreed to cut oil supply by 4.2 million barrels per day ...

Ukraine pays gas bill to avoid fresh gas crisis

MOSCOW, Mar. 5 -- Ukraine's energy giant Naftogaz paid its February debt for Russian gas in full on Thursday following Russian Prime Minister Vladimir Putin's threat to cut off gas deliveries to Ukraine and possibly European countries if Kiev failed to pay the bill by Saturday. ...

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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