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No big energy deals in the offing: oil & gas execs

NEW ORLEANS - Investment bankers may dream of tie-ups between large independent oil and gas companies, but executives who could possibly do such a deal say they are not in the market. On Monday, Canadian companies Suncor Energy Inc and Petro-Canada announced a $15 billion stock ...

Indian Oil says govt approves merger with BRPL

MUMBAI, March 25 - State-run Indian Oil Corp said on Wednesday the government had approved a proposal to absorb its subsidiary Bongaigaon Refinery & Petrochemicals. Indian Oil will issue four shares for every 37 shares in BRPL, it said in a statement.

Twenty years after Valdez spill, Exxon grows in Alaska

ANCHORAGE, Alaska - Twenty years ago, when crude oil was gushing out of the wrecked Exxon Valdez supertanker and Prince William Sound was being blackened by what would become the nation's worst tanker spill, oil giant Exxon Corp was vilified in Alaska. Bumper stickers said the ...

STX Shipbuilding wins $325 mln oil facility order

SEOUL, March 25 - South Korea's STX Shipbuilding said on Wednesday it had won a 450.6 billion won ($324.9 million) order to build a floating storage unit for Samsung C&T which will be delivered to the Middle East. STX Shipbuilding said in a filing with the Korea Exchange the ...

Japan Energy to refine 7 pct less crude in Apr-Jun

TOKYO, March 25 - Japan Energy Corp, the nation's sixth-biggest oil refiner, said on Wednesday it plans to cut its crude oil processing volumes for April-June by 7 percent from the same period a year earlier as the recession erodes oil demand. Japan Energy, the refining unit of ...

Gazprom to exercise ENI buyback option in early April

MOSCOW, March 25 - Russia's Gazprom plans to exercise an option to buy back 20 percent of its oil arm Gazprom Neft and Russian gas assets from Italy's ENI in early April, industry sources told Reuters on Wednesday. "It's going to be part of (Italian Prime Minister Silvio) ...

Tokyo Gas to buy 12.333 bcm of LNG in 2009/10

TOKYO, March 25 - Tokyo Gas Co, Japan's biggest city gas supplier, said on Wednesday it planned to buy 12.333 billion cubic metres of liquefied natural gas (LNG) in the year from April 1, compared with an estimated 13.109 billion cubic metres in the year ending this month. The ...

Obama says need cap and trade for clean energy

WASHINGTON - President Barack Obama said on Tuesday that a cap and trade system limiting greenhouse gases is the best way for the country to move to cleaner energy sources. Obama said in a news conference that Congress must adopt A "serious" energy plan.

Russia raps EU over Ukraine gas talks

MOSCOW, March 26 - Russia sees a pledge by the European Union to help modernise Ukraine's gas infrastructure as "an unfriendly act" against Moscow, the Russian foreign ministry said on Thursday. Brussels signed a cooperation agreement with Ukraine on modernising the system this ...

Venice seaport eyes algae to fuel energy needs

ROME - Venice's seaport plans to become self-sufficient in its energy needs by building a power plant fueled by algae, in what would be the first facility of its kind in Italy, the port authority said. The plant will be operative in two years and produce 40 megawatts of ...

Financier sees oil shock from credit crunch

LONDON - The global financial crisis and collapse in the oil market have stalled vital investment in oil exploration and production and are likely soon to lead to a sharp spike in prices, an energy consultant and financier says. Matt Simmons, founder of Houston-based investment ...

OPEC could cut oil output at next meet: Venezuela

CARACAS, March 26 - OPEC could agree on a new oil production cut at the next meeting in May if it is warranted by market circumstances, such as high global crude stocks, Venezuelan Oil Minister Rafael Ramirez said on Thursday. OPEC decided to leave production flat at its last ...

India's Feb oil product sales up 0.1 pct y/y-govt

NEW DELHI, March 26 - India's domestic oil product sales in February rose 0.1 from a year earlier, reflecting sluggish demand in a slowing economy, official data showed on Thursday. Domestic diesel sales grew 4.5 percent, the data showed. Asia's third-largest oil consumer ...

After scrapping refinery at home, Kuwait awaits China nod

BEIJING, March 26 - Kuwait faces a possible second setback on a major oil refining project before the end of this month with a Chinese joint venture worth up to $9 billion facing high environmental hurdles and a wary central government. A key environmental impact assessment (EIA) ...

Cosmo sees Apr-Jun crude runs down 9.3 pct yr/yr

TOKYO, March 26 - Cosmo Oil Co Japan's fourth-largest refiner, said on Thursday it plans to cut its crude oil processing volumes for April-June by 9.3 percent year-on-year, citing declining domestic demand. The company said it plans to reduce refining by 640,000 kl for the ...

Canadian oil exports to U.S. drop, traders say

HOUSTON - Canadian crude oil exports to the United States have declined due to lower world oil prices, a severe winter and synthetic crude processor maintenance, industry sources said on Wednesday. One trader said crude oil exports could drop as much as 300,000 barrels per day by ...

China oil exec sheds light on fuel pricing rules

BEIJING, March 26 - China will adjust domestic fuel prices when international oil prices rise or fall more than 4 percent within 22 straight working days, an oil executive was quoted as saying, in the first glimpse of the government's opaque pricing scheme introduced in December. ...

As oil implied volumes hit 5-month low, a $50 equilibrium?

SINGAPORE - A drop in U.S. crude oil implied volatility to its lowest since the financial crisis reached fever pitch last October may suggest that oil traders are beginning to see $50 as a possible point of equilibrium. And while historical volatility has also fallen from its ...

Europe's oil refining set to shrink

LONDON - Vanishing gasoline demand from the United States and a long-term fall in local oil use mean Europe's refiners are shutting down capacity -- for good. Already Total Europe's largest refiner, has said it will shut a quarter of its Gonfreville plant, the biggest in France. ...

OPEC president eyes $75 oil this year

LUANDA - Oil prices could reach $75 per barrel in 2009 despite a the economic crisis, OPEC president Angola said on Monday, adding that compliance by the 12-member group with the agreed cuts remained at around 80 percent. Jose Botelho de Vasconcelos, who is also Angolan oil ...

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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