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Iran says OPEC could accept Russia as member: report

TEHRAN - Iran's oil minister suggested OPEC would accept Russia as a member if Moscow wanted to join the 12-member oil producers' group, the semi-official Fars News Agency reported. Gholamhossein Nozari, speaking a few days before the cartel is due to meet in Vienna on March 15, ...

Toxic jatropha shrub fuels Mexico's biodiesel push

ROSARIO IZAPA, Mexico - All his life elderly Mexican farmer Gonzalo Cardenas has planted a stalky weed that grows wild in southern Mexico to form a sturdy live fence around his tropical fruit trees. Now it turns out the weed, jatropha, could be used to fuel jet planes and the ...

Smaller rigs could trim cost of Brazil subsalt oil

RIO DE JANEIRO, March 10 - Use of smaller platforms to pump subsalt oil from deep under the ocean bed would make it cheaper to extract and profitable at an oil price of $40 per barrel, state controlled energy firm Petrobras said on Monday. Petrobras discovered in late 2007, the ...

U.S. government cuts global oil demand forecast again

WASHINGTON - With the global economy getting stuck deeper in the mud, the U.S. Energy Department's forecasting arm on Tuesday again cut its estimate for global oil demand this year. The Energy Information Administration said it expected world oil consumption to average 84.27 ...

OPEC 2009 oil export revenue under $400 billion: EIA

WASHINGTON - Falling global oil demand and lower crude prices are expected to drop OPEC's oil export revenues below $400 billion for 2009, the U.S. government's top energy forecasting agency said on Tuesday. The U.S. Energy Information Administration lowered its estimate for OPEC...

Oil falls nearly 3 percent on lower demand outlook

NEW YORK - Oil fell nearly 3 percent a barrel on Tuesday as the U.S. government revised down its forecast for world oil demand in 2009. The U.S. Energy Information Administration lowered its world oil demand forecast for 2009 to 84.27 million barrels per day, down 430,000 bpd ...

Japan's TEPCO burns less oil, LNG in February

TOKYO, March 11 - Japan's top utility, Tokyo Electric Power Co (TEPCO) said its oil and gas consumption fell sharply in February from a year earlier, as higher nuclear plant usage and weakening demand dented thermal power generation. Fuel oil consumption slid 34.8 percent and LNG ...

Malaysia, Brunei to sign deal on sea-border

KUALA LUMPUR, March 13 - Malaysia and Brunei will sign an agreement this weekend to resolve a maritime border dispute that has halted oil exploration off Borneo island for six years, Malaysia's Foreign Minister said in a statement. Both countries have agreed to collaborate in the ...

PetroChina eyes refinery venture with Venezuela in '09

BEIJING, March 13 - China's largest oil and gas company, PetroChina will set up a joint venture refinery with Venezuela in 2009, Chairman Jiang Jiemi told reporters on Friday. In May, the Venezuelan state oil company PDVSA and PetroChina agreed to build a refinery in China's far ...

Spectra gets nod for gas lines in B.C.'s Horn River

CALGARY, Alberta, March 12 - Spectra Energy Corp said on Thursday that producers support plans for an expansion of its pipeline system serving the burgeoning Horn River shale gas region of northeastern British Columbia. The company said seven producers in the gas-rich region near ...

Corporate oil booms in low-tax Switzerland

ZUG, Switzerland - The tidy towns and mountain vistas of Switzerland are an unlikely setting for an oil boom. Yet a wave of energy companies has in the last few months announced plans to move to Switzerland -- mainly for its appeal as a low-tax corporate domicile that looks ...

Iraq Kurd leader eyes 1 mln bpd oil in 3 yrs

LONDON, March 12 - The leader of Iraq's autonomous Kurdish region said the area has the capacity to produce one million barrels per day of crude in three years and criticised Baghdad's policies on oil as "failed". "Today, the region is able to export 100,000 barrels per day and ...

Inpex, Apache acquire Australia oil stakes from BHP

TOKYO, March 12 - Japan's top oil explorer Inpex Corp said on Thursday it and U.S. energy firm Apache had agreed to acquire BHP Billiton's stakes in two undeveloped offshore Australia blocks. Inpex said it would boost its stake in the WA-35-L block, excluding the Van Gogh ...

Major oil slick off Australia coats beaches, birds

SYDNEY - A major oil clean-up was underway off Australia's northeast coast Thursday to limit the damage to beaches and marine life after a ship lost 30 tons of fuel when its hull was pierced by a container washed overboard. Marine experts are still searching for 31 containers of ...

Termite-killer is powerful greenhouse gas: study

SINGAPORE - A compound used to kill termites and other pests has turned out to be a potent greenhouse gas that stays in the atmosphere much longer than previously thought, an international team of scientists has found. Sulfuryl fluroide is nearly 5,000 times more effective at ...

Poland agrees to talks on Russia gas deal

WARSAW, March 11 - Poland gave up ground in talks to resume normal gas supplies from Russia, agreeing on Wednesday to renegotiate terms of a 1993 agreement governing gas transit terms between the two neighbours. Poland, which has seen its imported gas levels remain below the ...

Iraq inaugurates oil deal with China's CNPC

WASIT, Iraq, March 11 - Iraq inaugurated a $3 billion oil project on Wednesday with the Chinese National Petroleum Company (CNPC), activating the country's first major oil deal with a foreign firm since the fall of Saddam Hussein. Oil Minister Hussain al-Shahristani joined ...

Penn West to buy small oil firm Reece for C$51 mln

CALGARY, Alberta, March 10 - Penn West Energy Trust Canada's biggest conventional energy income fund, said on Tuesday it will buy Reece Energy Exploration Corp for C$51 million ($40 million) to bolster its position in a Saskatchewan oil play with the industry in a downturn. Under ...

Gas Natural says Gazprom eyeing assets - paper

MADRID, March 8 - Russian Gazprom is among 10 groups interested in assets Gas Natural has to sell as part of its takeover of Union Fenosa, the Spanish utility's chairman said in a newspaper interview on Sunday. Salvador Gabarro told El Pais the sale of 2,000 megawatts of ...

Australia NSW state: testing market for power sale

PERTH, March 5 - The government of Australia's New South Wales state is sounding out private sector interest in its revised power privatisation plans, which it plans to complete by the end of the year, it said on Thursday. The government in November revised its power privatisatio...

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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