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China to continue oil product pricing reform

BEIJING, Dec. 23 - China announced Wednesday that it will continue to reform its oil product pricing mechanism based on changes in the domestic and international markets. "The reform of refined oil pricing and affiliated fuel tax incentives has produced prominent results in the ...

Kuwait discovers new light crude, gas field

KUWAIT CITY, Dec. 22 - Oil-rich Kuwait said Tuesday it has discovered a light crude and gas field in the northwest, as the country moves toward a target of four million barrels per day of crude by 2020. The field is located in the area of Mutreba and its primary production is ...

Iraq, Shell-Petronas ink initial deal on Majnoon oil field

BAGHDAD, Dec. 20 - Iraq signed a preliminary deal with an oil consortium led by European energy giant Royal Dutch Shell PLC and Malaysia's state-run Petronas on Sunday to develop one of its most prized oil fields. The contract on the Majnoon oil field located in the south was ...

Iberdrola CEO says energy prices must rise: report

LONDON - Energy prices will have to rise if companies are to make the investments needed to cut carbon dioxide emissions, the head of Spain's biggest power group Iberdrola told Britain's Financial Times newspaper. In an interview published in Wednesday's paper, the company's ...

Algeria struggles to wean economy off oil and gas

TOLGA, Algeria - Algerian farmer Gholam Attia plucks an almost translucent deglet nour, or "finger of light," date from one of the palm trees growing in his plantation, and voices his anger. "My dates are delicious, they taste like caramel. I want to export but the bureaucracy is ...

NRG Energy to replace Sun Microsystems in S&P 500

NEW YORK, Jan 21 - Standard & Poor's said on Thursday NRG Energy Inc (NRG.N) will replace Sun Microsystems Inc (JAVA.O) in the benchmark S&P 500 index .SPX. The change will be made after the close of trading on a date to be announced, S&P said. Sun Microsystems, a computer maker, ...

Shell offshore oil drill plan in Alaska challenged

ANCHORAGE, Alaska, Jan 20 - Environmental and Alaska Native groups have filed a legal challenge seeking to overturn U.S. approval of Royal Dutch Shell Plc's (RDSa.L) plans to drill up to three wells this year off the shore of Alaska, representatives said on Wednesday. Late on ...

Seoul shares seen lower;eyes on banks, SK Energy

SEOUL, Jan 22 - Seoul shares are set to open lower on Friday after losses on Wall Street, with banking issues such as KB Financial Group (105560.KS) likely to fall under pressure after their U.S. peers declined on restriction concerns. "Shares will likely start off in negative ...

Valero reshuffles, cuts back oil products staff

TORONTO, Jan 20 - Valero Energy Corp (VLO.N) said on Wednesday it was reshuffling and cutting back on staff in its oil products marketing division. "We have said we were looking to streamline our operations," said Bill Day, a spokesman for the company. "Some changes within the ...

Valero reshuffles, cuts back oil products staff

TORONTO, Jan 20 - Valero Energy Corp (VLO.N) said on Wednesday it was reshuffling and cutting back on staff in its oil products marketing division. "We have said we were looking to streamline our operations," said Bill Day, a spokesman for the company. "Some changes within the ...

U.S. lawmakers have worries with Exxon-XTO merger

WASHINGTON, Jan 20 - U.S. Democratic lawmakers on Wednesday expressed concern that the merger of Exxon Mobil and XTO Energy would reduce competition in the oil and gas markets and increase the use of a controversial drilling technique. Exxon Mobil (XOM.N) said last month it ...

US sets $1 bln export aid to Colombia oil company

WASHINGTON, Jan 19 - The U.S. Export-Import said on Tuesday it has made a preliminary $1 billion commitment to help finance exports of U.S. and goods services to Colombia's national oil company, Ecopetrol SA ECO.CN. "This preliminary commitment will help Ecopetrol expand its ...

Progress Energy sees 2010 adj profit below Street view

Jan 19 - Power producer Progress Energy Inc (PGN.N) on Tuesday forecast 2010 ongoing earnings below analyst estimates, citing a challenging economy and an unfavourable decision in its Florida rate case. "Given the disappointing regulatory decision in Florida and the lingering ...

McMoRan posts narrower-than-expected Q4 loss

BANGALORE, Jan 19 - Oil and gas explorer McMoRan Exploration Co (MMR.N) posted a narrower-than-expected quarterly loss, helped by higher production and lower costs, sending its shares up as much as 4 percent. The company said it expects capital expenditures to be about $240 ...

Chevron has natural gas find off Australia

HOUSTON, Jan 26 - Chevron Corp (CVX.N), the second-largest U.S. oil company, on Tuesday reported another natural gas find in the Carnarvon Basin off Western Australia. The Yellowglen-1 discovery well, located about 150 miles (250 kilometers) northwest of Onslow, was drilled to a ...

Oil rebounds above 75 USD along with equities

NEW YORK, Jan. 25 - Oil prices rose above 75 U.S. dollars a barrel on Monday as equity market recovered from the worst week since the March lows in 2009. Oil prices finished last week at 74.54 dollars a barrel as the energy futures were pressured from weak demand and a plunging ...

Stratic Energy agrees to defer debt repayment

LONDON, Aug 4 - Stratic Energy (SE.L) (SE.V) has reached an agreement with its banking syndicate for an amendment on its loan facility and an additional line of credit, the Toronto and AIM-listed oil and gas explorer said on Monday. The banking syndicate agreed to defer debt ...

Half of Texas oil spill contained, waterway closed

PORT ARTHUR, Texas, Jan 25 - About half of the crude oil spilled in a ship collision on Saturday on the Sabine-Neches Waterway was contained on Monday, and the key shipping waterway will likely reopen on Thursday, the U.S. Coast Guard said. Texas officials said about 11,000 ...

KazMunaiGas ups cost estimate for major gas project

ALMATY, Jan 25 - Partners in the Karachaganak gas project in Kazakhstan will need to invest $14.5 billion to bring its third phase into production, an 80 percent cost hike on the previous estimate, state oil and gas firm KazMunaiGas said. KazMunaiGas [KMG.UL] issued the revised ...

Ugandan President meets Tullow CEO over oil deal

KAMPALA, Jan. 24 - Ugandan President Yoweri Museveni has met and held discussions over oil deal with Aiden Heavey, the chief executive officer (CEO) of Tullow Oil, the Irish company currently exploring oil in western Uganda. According to a State House news release received on ...

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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