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Petrobank sells part of Petrominerales stake

CALGARY, Alberta, April 27 - Petrobank Energy and Resources Ltd (PBG.TO) said on Monday it is selling part of its stake in Petrominerales Ltd (PMG.TO) for C$101 million ($83 million) to cut debt and help fund its development of a promising Western Canadian oil play. Petrobank ...

Conoco's Billings CDU unit back up, coker out

NEW YORK, April 23 - ConocoPhillips (COP.N) finished planned work on the crude distillation unit and the vacuum unit at its 58,000-barrel-per-day refinery in Billings, Montana, and returned them to service, according to the state regulator. Work continues on the coker and the gas ...

Canada export agency sees $70 oil as unsustainable

CALGARY, Alberta, June 9 - Canada's export agency has raised its 2009 oil price forecast, based on recent gains, but its chief economist said on Tuesday he does not believe the fundamentals support current levels just shy of $70 a barrel. Export Development Canada, a federal ...

Mexico's Pemex to develop new 13,700 bpd oil field

MEXICO CITY, June 9 - Mexico's state oil company Pemex said Tuesday it was seeking bids to build a production platform at an small offshore field discovered last year. Pemex [PEMX.UL] said it expected the Kambesah field to produce approximately 13,700 barrels of oil and 9.3 ...

KKR invests in U.S. natural gas company

NEW YORK, June 9 - U.S. private equity firm Kohlberg Kravis Roberts & Co [KKR.UL] has made a significant investment in East Resources Inc, the privately held natural gas company said on Tuesday. The size of the investment was about $350 million, according to a source familiar ...

Petrobras cuts diesel, gasoline prices at refinery

SAO PAULO, June 8 - Brazilian state-controlled energy firm Petrobras (PETR4.SA)(PBR.N) will cut refinery prices for gasoline and diesel, the company said on Monday, but a rise in taxes on gasoline will keep rates the same at the pump. The firm would reduce gasoline prices from ...

Shell says more global refining capacity than needed

KUALA LUMPUR, June 8 - Royal Dutch Shell (RDSa.L) CEO Jeroen van der Veer said on Monday looking at current poor margins, the world has more oil refining capacity than needed. "It's a real cyclical industry. If you look at margins there's more refining capacity than one needs," ...

Alon reports Big Spring hydrotreater upset -filing

HOUSTON, June 8 - Alon (ALJ.N) reported flaring on Monday at its 70,000-barrel per day (bpd) Big Spring, Texas, refinery after a diesel hydrotreater and an LDH unit overpressured, according to a notice filed with Texas pollution regulators. Operators adjusted refinery operations ...

SAP denies wrongdoing

MEXICO CITY, June 8 - German software group SAP (SAPG.DE) denied on Monday any wrongdoing in the wake of last week's resignation of a senior Mexican oil executive who been accused by a newspaper of accepting a trip from the company. Manuel Reynauld, Pemex's [PEMX.UL] deputy ...

Tesoro Alaska refinery process unit shut

HOUSTON, June 7 - Tesoro Corp (TSO.N) shut a process unit at its 72,000 barrel per day (bpd) Kenai, Alaska, refinery last week due to an electrical equipment problem, the Peninsula Clarion newspaper reported on its website Sunday. A Tesoro representative was not immediately ...

Argentina's YPF to spend $348 mln on refineries

BUENOS AIRES, June 7 - The Argentine unit of Spain's Repsol YPF (REP.MC) plans to invest $348 million to expand its refineries, local newspaper Clarin said on Sunday. Work on the expansions will start immediately, last 34 months, and enable the company to increase gasoline output ...

Alon Paramount refinery hit by power outage -filing

HOUSTON, June 14 - Alon USA Energy Inc's (ALJ.N) 54,000 barrel per day (bpd) Paramount, California, refinery was hit by a power outage on Saturday, according to a notice filed with California pollution regulators. The power outage triggered the refinery's safety flare system. The ...

Range Resources shares poised to take off-Barron's

NEW YORK, June 14 - An expected rise in natural gas prices and a large purchase of land that could yield vast amounts of it has energy company Range Resources Corp (RRC.N) well placed to see its beaten down shares soar, according to a report in the latest edition of Barron's. The ...

TSX closes near 8-month high on energy rally

TORONTO, June 11 - Toronto's main stock index ended higher on Thursday as its weighty energy sector drew support from another rise in oil prices, helping the TSX reach its highest level in nearly eight months. Shares of energy companies did much of the session's heavy lifting as ...

Valero plans to shut Aruba refinery up to 3 months

HOUSTON, June 11 - Valero Energy Corp (VLO.N) confirmed on Thursday it planned to shut its 235,000-barrel-per-day refinery in Aruba for two to three months due to poor margins. The shutdown was scheduled to begin in late June and the refinery would be completely offline by early ...

Europe Gasoline-Tops eight-month high of $730

LONDON, June 11 - European gasoline prices topped $730 a tonne on Thursday, for the first time since October, due to low stocks in Europe and the United States and an expected rise in demand. Traders said supplies in Europe were tight due to recent exports to West Africa and ...

ONGC fears $632 mln loss on gas sales in 2008-09

NEW DELHI, June 11 - Oil and Natural Gas Corp (ONGC.BO) may have suffered a 30 billion rupee ($632 million) loss of revenue for selling gas at government-fixed prices in the fiscal year 2008-09, its chairman said on Thursday. ONGC mainly sells gas to power and fertilser companies ...

Viterra profit drops but tops estimates

WINNIPEG, Manitoba, June 10 - Viterra (VT.TO), a leading Canadian farm supplier and grain handler, said quarterly profit fell on a writedown but brisk spending on fertilizer and seed helped the results top expectations. Shares of the Regina, Saskatchewan-based company rose after ...

Shell Canada gas station sells wheat-straw biofuel

VANCOUVER, British Columbia, JuA Royal Dutch Shell Plc (RDSa.L) gas station in Canada became the first in the world on Wednesday to fill tanks with gasoline containing biofuel made from wheat straw, Shell said. For a trial period, regular gasoline bought at a Shell service ...

Oil price drives TSX rise but trade cautious

TORONTO, June 10 - Toronto's main stock index closed higher on Wednesday as firmer oil prices boosted energy shares, but the rise was limited by caution about the prospects for the North American economy. The energy sector ended up 1.4 percent and was the key driver behind the ...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
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China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
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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 ...

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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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