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China's leading oil producer to triple natural gas production

HARBIN, Sept. 13 - Daqing Oilfield, China's No.1 terrestrial oil producer, is expected to triple its natural gas production while stabilizing crude output in the years to come. Wang Yongchun, general manager of Daqing Oilfield Co. Ltd., confirmed Sunday his company would be ...

Consol might rally on higher coal demand

NEW YORK, Sept 13 - Shares of CONSOL Energy (CNX.N), the largest producer of Eastern coal, might rise more than they already have this year on signs of improving global coal demand, Barron's reported on Sunday. CONSOL shares have risen 55 percent to about $42 since Barron's wrote ...

Natural Resource to acquire coal reserves for $255 mln

Sept 10 - Natural Resource Partners LP (NRP.N), which leases coal reserves to miners, said it will acquire about 200 million tons of coal reserves in Illinois for $255 million in eight separate transactions through 2012. The company sees revenue of about $12 million in 2010 from ...

Russian, Turkmen leaders fail to reach new gas deal

TURKMENBASHI, Sept 13 - Russian and Turkmen leaders failed on Sunday to set a timeframe to restore Turkmen gas flows to Russia, halted since April after a pipeline blast which left the Central Asian nation short of revenues. The meeting between Russian President Dmitry Medvedev ...

U.S. strongly opposed to tariffs against Chinese pipe imports

WASHINGTON, Sept. 10 - The U.S. industries Thursday expressed strong dissatisfaction with a U.S. decision to impose preliminary duties on imports of China-made steel pipes, saying such a protectionist move would hurt U.S. companies. The trade restrictions would "hurt U.S. using ...

Oil windfall at heart of tight Norway election

OSLO - Norway's ruling center-left is within reach of becoming the first government to win re-election since 1996 when the North Sea state began investing its oil windfall in an offshore fund. The oil fund has ballooned to $80,000 per citizen, and Norwegians' expectations for ...

IEA sees higher global oil use as economy recovers

LONDON - Global oil demand will be almost 0.5 million barrels per day (bpd) higher than previously forecast this year and next on stronger-than-expected U.S. and Chinese fuel consumption, the International Energy Agency said. The IEA, adviser to 28 industrialized economies, said ...

World oil demand to resume growth in 2010: report

HOUSTON, Sept. 9 - World oil demand will grow next year for the first time since 2007 and return to pre-recession levels by 2012, according to a newly released report. World oil demand is expected to grow by 900,000 barrels to 84.6million barrels per day (mbd) in 2010, and return ...

US WCoast Prods-Gasoline falls on refinery restarts

HOUSTON, Sept 15 - Gasoline fell 24 cents per gallon in West Coast markets on Tuesday following restarts of refineries in California, traders said. Unleaded ethanol-blend CARBOB gasoline for September deilvery finished at 23 cents per gallon over the NYMEX October RBOB RBV9 ...

Apollo Global to buy Parallel Petroleum for $483 mln

BANGALORE, Sept 15 - Apollo Global Management LLC said it will buy independent oil and gas company Parallel Petroleum Corp (PLLL.O) in a cash deal worth about $483 million, including debt. The alternative asset manager, which is run by investor Leon Black, offered $3.15 in cash ...

Iraq might ask back aggressive oil round bidders

VIENNA, Sept 9 - Iraq is considering inviting the most aggressive bidders to rebid for some of its giant oilfields after it failed to award deals at an auction in June, the country's oil minister said on Wednesday. "The two or three companies who made the best offers will be ...

BP Carson upset has no impact on output -source

HOUSTON, Sept 16 - An equipment breakdown at BP Plc's (BP.L)(BP.N) 265,000 barrel-per-day Los Angeles-area refinery in Carson, California was having "no significant impact" on production Wednesday morning, according to a source familiar with refinery operations. A notice filed ...

Capital plan may give Petrobras $25 bln oil rights

RIO DE JANEIRO, Sept 15 - Brazil's plan to capitalize state-run oil company Petrobras with 5 billion barrels of crude reserves in exchange for new shares may yield $15 billion to $25 billion in oil rights for the company, analysts said on Tuesday. President Luiz Inacio Lula da ...

TSX hits 2009 high as oil boosts energy plays

TORONTO, Sept 15 - Toronto's main stock index rose more than 1 percent on Tuesday to its highest closing level of 2009, as a commodity price rally and firm U.S. data spurred gains in heavily weighted materials, energy and financial shares. The S&P/TSX composite index .GSPTSE rose ...

Oil prices climb slightly last week: OPEC

VIENNA, Sept. 14 - The weekly average OPEC oil prices appeared rebound again last week, but in a very small range. It increased by 0.53 U.S. dollars compared to the previous week to 68.09 dollars per barrel, the Vienna-based cartel said Monday. In the first four trading days of ...

US WCoast Prods-Gasoline gains on refinery upsets

Gasoline gained 6 cents on Monday in West Coast refined products markets after two Los Angeles refineries sustained malfunctions. September unleaded ethanol-bled CARBOB gasoline was priced between 42 cents and 47 cents per gallon over the NYMEX RBOB gasoline contract for October, ...

Petrobras sees new oil law by next spring

NEW YORK, Sept 14 - Petrobras CEO Jose Sergio Gabrielli said on Monday he expects Brazil's Congress to approve the country's oil reform proposal as early as February or March next year. "In an optimistic view, we can't see having these bills approved until February or March," he ...

Iraqi Kurdistan suspends DNO's oil operations

SULAIMANIYA, Iraq, Sept 21 - The authorities of Iraqi Kurdistan said on Monday they were suspending for six weeks the oilfield operations of Norwegian oil exploration firm DNO International (DNO.OL). The Kurdistan Regional Government said in a statement on its website that ...

Petrobras oil reserves to hit 30-35 billion by 2012

NEW YORK, Sept 14 - Petrobras CEO Jose Sergio Gabrielli said on Monday that the company's recoverable oil reserves will hit 30 billion to 35 billion barrels within three years, thanks to huge finds off the coast of Brazil. "We're talking about a portfolio of 30 to 35 billion," he ...

Cequence to shut in natural gas production at Gunnell

BANGALORE, Sept 21 - Canadian energy explorer Cequence Energy Ltd (CQE.TO) said it plans to shut in natural gas production from its wells in the Gunnell area of northeastern British Columbia, citing weak natural gas prices, sending its shares down 10 percent. Cequence, which ...
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