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Highpine Oil & Gas posts Q1 loss

Cuts 2009 production forecast May 5 - Highpine Oil & Gas Limited (HPX.TO) reported a quarterly loss, hit by lower oil prices, and cut its 2009 production forecast. The Calgary-based oil and natural gas company posted a net loss of C$35.2 million ($29.93 million), or 53 Canadian ...

MMS cuts U.S. Gulf oil 2018 output forecast

HOUSTON, May 4 - The U.S Minerals Management Service has cut its forecast for Gulf of Mexico oil output over the next 10 years by 300,000 barrels per day (bpd) to between 1.6 million and 1.9 million bpd, the agency that regulates offshore oil development said on Monday. In an ...

Motiva's Texas refinery expansion

A huge expansion at Motiva's 285,000-barrel per day Port Arthur, Texas, refinery is going forward, although it will be completed two years later than originally planned, Shell Oil Co (RDSa.L) President Marvin Odum said Monday. Motiva, a joint venture between Saudi Aramco and ...

Quarterly ore pricing talks to stay

The quarterly negotiated pricing system for iron ore is workable and is expected to remain in place, Baosteel Group Corp Chairman Xu Lejiang said yesterday. Global miners, including Vale, Rio Tinto and BHP Billiton, this year abandoned a 40-year practice of selling ore to major ...

Comstock Resources posts wider-than-expected Q1 loss

May 4 - Energy company Comstock Resources Inc (CRK.N) reported wider-than-expected first quarter loss, hurt by decline in oil and natural gas prices. For the quarter ended March 31, the company's net loss was $5.7 million, or 12 cents a share, compared with net income from ...

GDF Suez, Total to share French EPR stake

PARIS, May 4 - GDF Suez (GSZ.PA) and Total SA (TOTF.PA) have agreed to split a stake in a company formed to build and operate France's second new-generation EPR nuclear power plant at Penly, the companies said on Monday. French Prime Minister Francois Fillon had granted GDF Suez ...

China to have 100 GW wind power energy capacity by 2020

BEIJING, May 4 - China plans to finish 100 gigawatts of wind power capacity by 2020 and expand its renewable energy consumption to 40 percent of the energy market by 2050. The goal for wind power capacity was more than three times of the 30 gigawatts target that the government ...

Oil tops $53 on upbeat manufacturing data

NEW YORK, May 3 - Crude oil settled above 53 U.S. dollars on Friday as a report showing signs of improvement in manufacturing offset lackluster economic reports. Light, sweet crude for June delivery rose 2.08 dollars to close at 53.20 dollars a barrel on the New York Mercantile ...

Dana Gas production in Egypt up 20 pct from 2008 avg

DUBAI, May 11 - Abu Dhabi-listed Dana Gas's DANA.AD production levels in Egypt has risen 20 percent over the annual average achieved last year, the company said in a statement on Sunday. Total gas production in Egypt was currently at 35,000 barrels of oil equivalent per day ...

Chavez says Venezuela to take over oil services

CARACAS, May 7 - The government will quickly take control of hundreds of small boats and other assets belonging to oil service companies operating in Venezuela, President Hugo Chavez said on Thursday, tightening his grip on the industry. Earlier in the day, Venezuela's legislatur...

China-Russia oil pipeline serves strategic goals of both sides

MOSCOW, May 10 - The construction of the China-Russia oil pipeline conforms with the strategic goals of China and Russia to diversify the former's energy imports and latter's energy exports, Chinese Ambassador to Russia Liu Guchang has said. The move reflects the two countries' ...

SandRidge Q1 net loss widens

May 7 - Oil and gas company SandRidge Energy Inc (SD.N) posted a wider first-quarter loss, hurt by a $1.3 billion ceiling impairment charge from the decline in oil and gas prices. In the latest quarter, the company posted a net loss of $1.2 billion, or $7.07 a share, compared ...

Bonavista Energy Trust Q1 profit falls

May 7 - Bonavista Energy Trust (BNP_u.TO) posted a 54 percent fall in its first-quarter profit, hurt by a drop in commodity prices and production volumes. The company reported net income of C$33 million ($28.28 million), or 28 Canadian cents per unit, down from C$72.3 million, or ...

Market challenging for rest of '09

NEW YORK, May 7 - U.S. Northeast refiner Sunoco Inc (SUN.N) said on Thursday that it sees a challenging market environment for the rest of 2009 due to a weaker economy. Chairman and Chief Executive Lynn Elsenhans also said in a conference call to discuss quarterly earnings that ...

Fla, Ind natgas line ruptures no impact to shippers

NEW YORK, May 6 - Two natural gas pipeline ruptures on separate systems in Florida and Indiana this week were not impacting shippers, according to a spokesman for both pipeline companies on Wednesday. A portion of the 5,000-mile (8,050-km) Florida Gas Transmission interstate ...

China top refiners cut May crude runs for repairs

BEIJING, May 7 - China's top refineries will trim their crude oil processing in May by about 6 percent from April due to major planned maintenance, the first cut this year after plants stepped up crude runs earlier this year in anticipation of a recovery in demand. The reduction, ...

ADB helps expand natural gas distribution in China

The Asian Development Bank (ADB) is extending a loan worth US$200 million to China to develop the country's natural gas distribution infrastructure and promote renewable energy use. The ADB said in a statement issued on Wednesday that the loan, which will be coursed through the ...

Husky Energy sells $1.5 bln notes in 2 parts

NEW YORK, May 6 - Husky Energy Inc (HSE.TO) on Wednesday sold $1.5 billion notes in a two-part sale, said IFR, a Thomson Reuters service. The offering included $750 million in five-year notes priced to yield 387.5 basis points over U.S. Treasuries and $750 million in 10-year ...

Alpha Natural Q1 profit tops Street view; shares gain

BANGALORE, May 6 - Coal miner Alpha Natural Resources Inc (ANR.N) reported a 61 percent rise in first-quarter profit, beating market estimates, as higher coal prices and lower costs offset sagging demand, sending shares of the company as high as 22 percent. Though the management ...

Schlumberger shares have more room to rise

NEW YORK, May 3 - Shares in oil services company Schlumberger (SLB.N) may rise as much as 25 percent in the next two years if the global economy begins to recover in 2010 or in 2011, according to a report in Barron's. The story in the May 4 edition said that in the case of a ...

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china

Bill Gates talks nuclear
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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

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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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