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Nippon Oil sees low crude runs; gasoline sales firm

TOKYO, March 30 - Nippon Oil Corp., Japan's top oil refiner, said on Monday it is likely to keep low crude runs from May despite some recovery in gasoline sales helped by highway toll discounts that started over the weekend. Gasoline sales over the weekend were up 19 percent from ...

Iraq issues tender for 45 oil wells in South Rumaila

BAGHDAD, March 30 - Iraq's South Oil Company on Monday issued a tender for the drilling of 45 new oil wells in its super giant South Rumaila oilfield. The 30 producer wells and 15 injection wells, tendered on a turnkey rate basis, should be completed within 25 months, according ...

Oil spill spotted in Finnish Baltic

HELSINKI - A slick of light fuel oil dozens of miles (kms) long has been found in the Baltic archipelago in southwestern Finland, officials said on Monday. Reijo Salminen, division head of the Finnish Rescue Services, said ship traffic was the likely source given the slick's ...

Reliance's KG gas output to begin in 2 days-report

MUMBAI, March 30 - India's Reliance Industries Ltd is set to begin gas production from its deep-sea field off the country's east coast in the next 24 to 48 hours, the Economic Times reported on Monday, without citing a source. A company spokesman reached by Reuters declined to ...

Dana Petroleum makes gas find off Morocco, profit up

LONDON, March 30 - Dana Petroleum said it had made a significant gas find off the north African coast as it posted a 34 percent rise in annual pretax profit to 191.4 million pounds on Monday. Dana said it estimated that reserves in a well at Anchois in the Tanger-Larache licence, ...

Kuwait comfortable with $50 barrel oil: minister

KUWAIT- Kuwaiti oil minister Sheikh Ahmad al-Abdullah al-Sabah said on Sunday the OPEC member was comfortable with the current level of oil prices, given the state of the global economy. Asked if he was comfortable with oil prices around $50 a barrel, Sheikh Ahmad said: "Yes, of ...

Sinopec says Q1 net profit to rise by more than 50 pct

HONG KONG, March 29 - Top Asian oil refiner Sinopec Corp said on Sunday its net profit for the first quarter would rise by more than 50 percent compared to the same period a year ago, boosted by improved refining economics because of the sharp fall in crude oil prices. "During ...

Gas, condensate discovery made in the North Sea

OSLO, April 1 - The Norwegian Oil Directorate said: Exxon Mobil Det Norske Oljeselskap and StatoilHydro makes gas and condensate discovery in the North Sea. The purpose of the well had been to find oil. The reservoir quality was poor, and the companies will now evaluate the ...

Norway oil industry checks impact of pipes defect

OSLO, March 31 - Companies operating oil and gas fields offshore Norway are checking the scope and impact of sub-quality metal components found in pipe fittings, the Norwegian oil industry association (OLF) said on Tuesday. "The involved operating companies are already working to ...

Russian gas transit to Balkans via Moldova halted-Tass

MOSCOW, April 1 - Russian gas supplies to the Balkans via Moldova were suspended on Wednesday after a blast on a major pipeline, Itar-Tass news agency reported citing unnamed Moldovan officials. Russia's gas export monopoly Gazprom could not be immediately reached for comment.

Venezuela's Chavez says $80/bbl fair oil price

CARACAS - Venezuelan President Hugo Chavez sees $80 per barrel as a "fair" price for oil, according to a government statement sent out late Monday. Energy Minister Rafael Ramirez in recent weeks said he expected oil prices to stabilize at $70 a barrel, describing that price as ...

Oil explorer Maurel unveils discovery, eyes M&A

PARIS, March 31 - France's Maurel & Prom announced a fresh oil discovery in Gabon as it posted surging 2008 profits and reaffirmed plans to acquire assets made cheaper by a sharp drop in oil prices. The independent oil company, which recently agreed to sell production assets in ...

Gazprom sees 2009 gas exports, price falling

ST PETERSBURG, Russia - Russia's gas export monopoly Gazprom said on Tuesday its European gas exports are likely to fall more than it had previously expected as the global financial crisis hit demand Gazprom's deputy chairman Alexander Medvedev said that exports were expected to ...

India's curbs on Reliance gas irk investors-Cairn

NEW DELHI, March 31 - India's next exploration licencing round, expected in April, may get a poor response as government controls on sales of natural gas may put off potential investors, the head of Cairn India said on Tuesday. The government has mandated how much gas should be ...

UAE renews gas concession with Shell, Total, Partex

ABU DHABI, March 31 - Abu Dhabi has renewed its onshore gas concession with Royal Dutch Shell Total and Partex, United Arab Emirates state news agency WAM reported on Tuesday. Government-run Abu Dhabi National Oil Company (ADNOC) and the companies have signed a new 20-year deal ...

China Lanzhou-Zhengzhou oil pipeline in operation

BEIJING, March 31 - China oil giant PetroChina Co Ltd has started to operate a major pipeline to help transport fuel from the northwest to the energy-thirsty central regions, a company-run newspaper said on Tuesday. The 1,188-kilometre-long pipeline running from Lanzhou in ...

Australia opens bidding for undersea carbon plan

PERTH - Australia opened the bidding on Friday for ten offshore areas that will be used to store carbon dioxide, bringing its pioneering plan to reduce emissions by pumping the greenhouse gas beneath the ocean floor a step closer to reality. Energy Minister Martin Ferguson said ...

Cairn Energy on track for first Rajasthan oil in H2

LONDON, March 31 - Oil explorer Cairn Energy said on Tuesday it remained on track to produce the first oil from its Rajasthan development in India in the second half of this year and forecast growth across its business. Cairn said the planned ultimate production capacity in ...

U.S. to consider raising oil, gas royalty rates

WASHINGTON - The Obama administration will decide later this year whether to raise the royalty rates energy companies would pay on the oil and natural gas produced on federal leases, U.S. Interior Secretary Ken Salazar said on Tuesday. Companies now pay a royalty rate ranging ...

Venezuela delays oil bid by three weeks: source

CARACAS - Venezuela has delayed by at least three weeks a bidding round fields in the vast Orinoco heavy crude belt, a source involved in the bid told Reuters. Oil companies have expressed interest in the three massive projects that could pump 1.2 million barrels per day, but the ...

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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