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Perenco to halt Ecuador oil output in tax fight

QUITO, July 15 - French oil company Perenco will temporarily halt operations in Ecuador from Thursday over a fight with the government concerning taxes, a top company executive told Reuters on Wednesday. Ecuador has seized the bulk of Perenco's production since March in a bid to ...

Forest Oil sees sequentially lower Q2 sales volumes

July 13 - Oil and natural gas company Forest Oil Corp (FST.N) forecast sequentially lower net sales volume for its second quarter, citing reduced rig count. The company said it expects average oil and gas net sales volume of 520 million cubic feet equivalent per day (mmcfe/d), 5 ...

Petrobras production in Brazil rises in July

SAO PAULO, Aug 18 - Brazilian oil giant Petrobras' (PETR4.SA) (PBR.N) production in Brazil rose in July, the company said in a statement on Tuesday. The company's oil production in Brazil rose to 1.938 million barrels a day in July compared to 1.927 million barrels per day in ...

Sterling Resources Q2 loss widens

Aug 18 - Canadian oil and gas company Sterling Resources Ltd (SLG.V) posted a wider quarterly loss, hurt by interest expense on secured notes and lower interest income. For the second quarter, the company reported a net loss of C$1.7 million, or 1 Canadian cent per share, ...

Oil expands losses on falling equities,strong dollar

NEW YORK, Aug. 17 - Oil prices expended its losses on Monday as global equities fell and the dollar strengthened against a basket of major currencies. Light, sweet crude for September delivery tumbled more than 3 percent during the session before rebounding to settle at 66.75 ...

Struggling SemGroup Energy Partners seeks Nasdaq relisting

NEW YORK, Aug 17 - SemGroup Energy Partners LP (SGLP.PK), a midstream oil and asphalt company, seeks to bring its SEC filings up to date and relist its shares on Nasdaq by fall, a person familiar with the company's plans told Reuters Monday. Tulsa-based SemGroup Energy, among the ...

Europe Gasoline-drops to $650 on sell-off

LONDON, Aug 17 - Gasoline prices dropped by almost 6 percent in Europe on Monday, heading below $650 for the first time since late July on a sell-off in the futures market and low exports to the United States. Tight supplies and Nigerian demand had pushed European gasoline prices ...

BP, Iraq officials meet over Rumaila oil deal

BASRA, Iraq, August 17 - A technical team from oil major BP (BP.L) has met Iraqi oil engineers as part of preparations to sign a deal to develop Iraq's giant Rumaila field, senior Iraqi oil officials said on Monday. Dhiya Jaafar, acting chief of Iraq's South Oil Co., said there ...

Exxon to extend life of Australia Bass Strait fields

PERTH, Aug 17 - ExxonMobil Corp (XOM.N) plans to extend oil and gas production from its resources in the Bass Strait off southeast Australia by at least 30 years, the company said on Monday. Exxon said it plans to bring two more fields online for the Kipper-Tuna and Turrum ...

Venezuela seeks new terms for Caribbean oil aid

CARACAS, Aug 16 - Venezuela said on Sunday it is renegotiating an oil deal which gives favorable terms to poor Caribbean and Central American countries and is an integral part of President Hugo Chavez's foreign policy. Known as Petrocaribe, the program has helped over a dozen ...

Boart Longyear to raise $635 mln to slash debt

MELBOURNE, Aug 17 - Australian drilling services company Boart Longyear Ltd (BLY.AX) plans to raise $635 million by selling new shares at a 39 percent discount to help pay off most of its debt, the company said on Monday. The U.S.-based company flagged in May it was looking for ...

Turkey emerges as world energy hub after big deals

ISTANBUL, Aug. 23 - Turkey, which is short of gas and oil, is trying to turn itself into the largest energy hub in the world through forging a series of high-profile transit agreements. First, Turkey signed with four European countries a deal on the Nabucco gas pipeline in Ankara ...

Sinopec Q2 net hits record, sees higher profits

HONG KONG, Aug 23 - Sinopec Corp (0386.HK), the world's second-largest oil refiner after Exxon Mobil (XOM.N), posted record quarterly profits that widely exceeded expectations on higher fuel prices and falling crude oil prices, underscoring the turnaround in fortunes for China's ...

Australian oil well to gush for nearly two months

SYDNEY, Aug 23 - A leaking Australian oil well is likely to pour oil into the Timor Sea for nearly two months before it can be stopped, the operator said on Sunday, as environmentalists expressed grave fears for rare wildlife. Rig operator PTTEP Australasia said it planned to ...

Wall Street rebounds on higher energy prices

NEW YORK, Aug. 19 - Wall Street rebounded on Wednesday as higher oil prices lifted energy shares. Oil prices jumped nearly 5 percent on Wednesday as government report showed U.S. crude inventories dropped sharply. The U.S. Energy Department's Energy Information Administration ...

Australia sprays oil slick amid wildlife fears

SYDNEY, Aug 23 - Aircraft sprayed chemicals to break up a large oil slick off Australia's northwestern coast on Sunday as environmentalists expressed fears for rare wildlife from oil gushing into the sea from an uncapped well. The Australian Maritime Safety Authority (AMSA) said ...

Gold gains on soaring oil, weak dollar

CHICAGO, Aug. 19 - Gold futures on the COMEX Division of the New York Mercantile Exchange ended higher on Wednesday as crude oil jumped sharply upon unexpectedly plunging oil inventory. Silver finished lower, but platinum rose. Gold price for December delivery climbed 5.60 U.S. ...

Oil soars on sharp U.S. inventory draw

NEW YORK - Oil surged more than 4 percent on Wednesday after U.S. government data showed a steep drop in crude imports and inventories in top consumer the United States. U.S. crude stockpiles plunged by 8.4 million barrels in the week to August 14 -- against analysts' forecasts ...

Imperial Oil may dust off Cold Lake expansion plan

CALGARY, Alberta, Aug 19 - Imperial Oil Ltd (IMO.TO) may dust off long-held plans for a C$1 billion ($910 million) expansion of its massive Cold Lake oil sands project in northern Alberta that would increase output by 30,000 barrels per day, a company spokesman said on Wednesday. ...

Petrobras says Brazil oil output rises in July

SAO PAULO, Aug 18 - Brazil's state-run oil company Petrobras (PETR4.SA) (PBR.N) said on Tuesday domestic oil production rose in July. The company's oil production in Brazil rose to 1.938 million barrels a day in July compared to 1.927 million barrels per day in June. Production ...

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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