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OPEC oil prices edge slightly higher

VIENNA, Sept. 21 - The weekly average price of the Organization of Petroleum Exporting Countries (OPEC) rose only one cent to 68.1 U.S. dollars per barrel last week, said the Vienna-based cartel Monday. On the first trading day of last week, OPEC oil prices dropped 1.74 dollars ...

Optimism prevails in Sudan following rise in world oilprices

KHARTOUM, Sept. 24 - Optimism has prevailed the economic circles in Sudan following a significant rise in the international oil prices, and the possibility that this rise would positively reflect on the revenues of the country's general budget for 2010. "The rise in the oil ...

Zambia says eight firms bid for oil exploration

LUSAKA, Nov 8 - Eight foreign and local firms have submitted bids to explore for oil in three provinces in Zambia, Godwin Beene, permanent secretary for the ministry of mines and minerals development said on Sunday. Zambia, Africa's top copper producer, invited bids from foreign ...

U.S. Exxon Mobil wins deal of giant oilfield in southern Iraq

BAGHDAD, Nov. 5 - The Iraqi Oil Ministry said Thursday it has awarded a consortium led by Exxon Mobil Corp. and Royal Dutch Shell PLC a license to develop its West Qurna phase 1 oilfield. Iraqi Oil Minister Hussein al-Shahristani told a press conference that the agreement was ...

Sunoco's NJ refinery stopped production

Nov 5 - Oil and gas company Rex Energy Corp (REXX.O) posted a wider-than-expected quarterly loss, hurt in part by a fall in oil and gas sales. The exploration and production company posted net loss of $1.2 million, or 3 cents a share, net earnings of $36.8 million, or $1.00 a ...

Oil & gas profits slide, cost cuts help outperform

BANGALORE, Nov 5 - Independent oil and gas firms EOG Resources (EOG.N), Petrohawk Energy (HK.N), Plains Exploration (PXP.N) and Continental Resources (CLR.N) all reported sharply lower quarterly profits due to a slump in prices. The global economic slowdown has reduced demand for ...

Sunoco's NJ refinery stopped production

NEW YORK, Nov 5 - Sunoco Inc (SUN.N) said on Thursday it is pressing on with idling its 145,000-barrel-per-day Eagle Point refinery in Westville, New Jersey, where all processing units have ceased production this week. Sunoco's third-quarter crude oil utilization rate was 74 ...

Oil rises for 3rd day on inventory drop, Fed

NEW YORK - Oil prices rose by 1 percent on Wednesday after government data showed an unexpected decline in U.S. crude inventories, and the U.S. Federal Reserve said it planned to keep interest rates low. U.S. crude for December delivery rose 80 cents to settle at $80.40 a barrel, ...

Murphy Oil 3rd-qtr profit drops

SAN FRANCISCO, Nov 4 - Murphy Oil Corp (MUR.N) said on Wednesday quarterly profit fell 68 percent as crude oil prices dropped sharply from a year ago and weak fuel demand in the global economic slowdown hurt its refining business. Net profit in the third quarter was $188.9 ...

Plains All American Q3 results beat estimates

Nov 4 - Plains All American Pipeline LP (PAA.N) posted third-quarter earnings that beat analysts estimates, helped by lower costs. In the latest quarter, the oil and gas pipeline operator posted a net income of $122 million, or 65 cents a unit, compared with $206 million, or $1...

Angolan oil output to surge over next 5 years

LONDON - Angola's oil industry is booming as money pours in after the end of three decades of civil war, and officials say output could increase by as much as two-thirds over the next five years. Buoyed by a scramble for energy and raw materials by China and other emerging ...

Exco Resources Q3 adj profit misses estimates

Nov 3 - Oil and gas explorer Exco Resources Inc's (XCO.N) adjusted quarterly profit fell short of Wall Street expectations, hurt by lower production and a drop in average realized prices. For the latest third quarter, the company earned $433.3 million, or $2.05 a share, compared ...

Apache says some Gulf oil, gas output shut by storm

HOUSTON, Nov 9 - U.S. independent oil and gas producer Apache Corp (APA.N) shut and evacuated 23 company-operated fields in the Gulf of Mexico, a spokesman said on Monday. The company curtailed output of 23,800 barrels (bpd) of oil and 124 million cubic feet (mmcf) of natural gas ...

Baytex Energy profit falls 70 pct on weak oil prices

Nov 10 - Baytex Energy Trust's (BTE_u.TO) quarterly profit dropped 70 percent as weaker oil prices continued to hurt the Canadian oil explorer. Baytex, a major producer of heavy oil, however, said it was bullish over the near-term outlook for heavy oil, backed by rising ...

Conoco, Mubadala Kazakh JV sees 1.5-3 bln crude reserves

ABU DHABI, Nov 10 - Abu Dhabi investment vehicle Mubadala and ConocoPhillips' (COP.N) offshore oilfield in Kazakhstan may hold as much as 3 billion barrels of crude in reserves, a company spokesman said on Tuesday. "Mubadala Oil and Gas and its partners (KazMunayGas and ...

Canada's Flint Energy Services Q3 profit tops market

Nov 9 - Canada's Flint Energy Services Ltd (FES.TO) reported a better-than-expected quarterly profit as the oilfield services company was able to put a lid on expenses. For the third quarter, the company posted a net income of C$9.7 million, 21 Canadian cents a share, compared ...

Tesoro restarting HCU at Wilmington refinery

HOUSTON, Nov 9 - Tesoro Corp (TSO.N) said a hydrocracking unit was restarting on Monday at its 100,000 barrel per day (bpd) Los Angeles-area refinery in Wilmington, California, after a planned overhaul. "The hydrocracker is restarting but will take several days to reach planned ...

NuStar Energy to offer 5 mln units, shares dip

Nov 9 - NuStar Energy LP (NS.N), which operates oil pipelines, storage facilities and asphalt refineries, said it will offer 5 million units and use the net proceeds to fund potential acquisitions and capital expenditures, and repay debt. Shares of the company dropped 5 percent ...

Total eyes oil production rise in Congo by year-end

BRAZZAVILLE, Nov. 8 - French company Total, the top oil operator in the Republic of Congo, plans to increase its production by at least 20 percent by the year-end, the state radio reported on Friday. "The prospects in matters of petroleum production are good. At the end of the ...

Wall St at 13-month highs as dollar slips

NEW YORK, Nov 16 - U.S. stocks rose on Monday to 13-month highs led by energy and materials shares even as Federal Reserve Chairman Ben Bernanke said the economic expansion probably will not be as robust as hoped. Commodity-related companies led the broad advance as oil and ...

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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