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Kuwait wants oil price above $60

KUWAIT - Kuwait wants to see the price of oil stay above $60 a barrel, the OPEC member's oil minister said on Sunday. "We will be watching the market very closely," Kuwait's Oil Minister Sheikh Ahmad al-Abdullah al-Sabah told reporters at parliament. "We would not like to see the ...

Argentine oil tycoon targets Sterling Energy-paper

LONDON, July 5 - Argentine oil tycoon Carlos Bulgheroni is behind a bid for London-listed oil company Sterling Energy (SEY.L), The Sunday Times reported. Bulgheroni, who is understood to have made an offer in the last few weeks, wants to take over the company in order to get a ...

Canadian police probe sixth gas pipeline bombing

VANCOUVER, British Columbia, July 4 - An explosion damaged a natural gas pipeline in northeast British Columbia on Saturday, the sixth attack on an energy facility in that area of the Canadian province in recent months. The explosion about 8 km south of the community of Dawson ...

Iraq expects more from second energy auction

BAGHDAD, July 4 - The Iraqi government is hoping that a second major auction of oil and gas fields later this year will help revive a struggling oil industry where a first auction this week fell short, a government spokesman said. "We think that the first (bidding) round didn't ...

Oil drops nearly 4% on unexpected U.S. job losses

NEW YORK, July 2 - Oil prices dropped nearly 4 percent on Thursday as the United States lost more jobs in June than expected. Light, sweet crude for August delivery fell 2.58 U.S. dollars, or 3.7 percent, to settle at 66.73 dollars a barrel on the New York Mercantile Exchange, ...

TSX slides on weak oil, US jobs data

TORONTO, July 2 - Toronto's main stock index finished lower on Thursday as oil prices slid and a gloomy U.S. jobs report dimmed hopes for a quick economic recovery. U.S. employers cut more jobs than expected in June and the unemployment rate rose to 9.5 percent, the highest level ...

Judge orders Chevron to halt California project

HOUSTON, July 2 - A California state judge ordered Chevron Corp (CVX.N) to halt a $1 billion project aimed at expanding the types of crude oils its Richmond, California, refinery can process, a lawyer opposing the project said on Thursday. Judge Barbara Zuniga said the environmen...

U.S. natgas rig count edges up 1 to 688 for week

NEW YORK, July 2 - The number of rigs drilling for natural gas in the United States unexpectedly rose again, the second gain in seven months, according to a report on Thursday by oil services firm Baker Hughes in Houston. The report showed U.S. gas drilling rigs edged up 1 to 688 ...

Oil steady above $69 after fall on gasoline build

PERTH - Oil prices were little changed just above $69 a barrel on Thursday, after falling in the previous session on data showing a larger-than-expected increase in U.S. gasoline stocks, which dented hopes of a demand recovery. The next major clue on the economy of the world's ...

Dry hole in offshore play shows Brazil oil risks

RIO DE JANEIRO, July 8 - A consortium of companies failed to find oil in deep waters off Brazil's coast, officials said on Wednesday, a sign the South American nation's push to become an energy exporter is still fraught with risks. The news came a day after state-run Petrobras ...

Cavaou LNG terminal delayed to end-2009

PARIS, July 8 - France's GDF Suez (GSZ.PA) liquefied natural gas (LNG) terminal in southern France will start operating at the end of 2009, two and a half years after the scheduled start date, the regulator CRE said on Wednesday. "It is delayed to the end of the second half of ...

Hess Corp files no oil discovery for Brazil well

RIO DE JANEIRO, July 8 - Hess Corp did not file a discovery of oil after drilling a well in Brazil's offshore Santos Basin BM-S-22 bloc, the company said in a statement on its website. Neither Hess (HES.N) nor Exxon Mobil (XOM.N), a partner in the project and operator of the ...

EIA raises 2009 world oil demand forecast

WASHINGTON - The U.S. Energy Information Administration on Tuesday once again raised its world oil demand forecast for this year as the global economy gradually improves. In its monthly energy outlook, the EIA increased its 2009 global oil demand projection to 83.85 million ...

Europe Gasoline-Firm below $590; West Africa supports

LONDON, July 7 - European gasoline prices held firm just below $590 a tonne on Tuesday, supported by exports to West Africa and steady U.S. futures. Brokers said lower demand out of the Middle East was pressuring prices alongside lower crude oil costs, but the large sell-off ...

Petronas, Noble sign Cameroon energy exploration deal

YAOUNDE, July 7 - Malaysia's Petronas (PETR.KL) and U.S. company Noble Energy (NBL.N) have signed a $119 million oil and gas exploration deal with Cameroon's state oil firm, the Cameroonian company said on Tuesday. The seven-year contract covers an area off the West African ...

McMoRan sees positive results at gas well

July 6 - McMoRan Exploration Co (MMR.N) said a deep gas exploratory well in Louisiana showed positive results, sending its shares up 5 percent in trading after the bell. McMoRan owns a 42.9 percent working interest and a 29.7 percent net revenue interest in the Blueberry Hill ...

Russia bank may help Ukraine with $4 bln gas loan

KIEV, July 6 - Ukraine's state firm Naftogaz could secure up to $4 billion in financing with the help of Russian investment bank Troika to ensure payment for gas imports from Moscow, the Internet site Ukrainska Pravda reported Monday. A banking source later told Reuters that ...

Europe Gasoline-Falls below $600 on low export hopes

LONDON, July 6 - European gasoline prices fell below $600 a tonne on Monday, pressured by lower exports to the United States and the Middle East and a drop in crude futures. Prices were down about 2.5 percent to around $585 a tonne, with news Saudia Arabia's imports, most of ...

SK Energy cuts Aug spot diesel exports by a third

SEOUL, July 13 - South Korea's SK Energy (096770.KS) will slash spot diesel exports to 600,000 barrels in August from 900,000 barrels in July on low refining runs, a company source said on Monday. "We decided to lower the exports due to poor margins and low refinery run rates," ...

Nigerian Chevron Oil Q1 turnover rose 62 percent

LAGOS, July 13 - First-quarter turnover at the Nigerian unit of Chevron (CHEV.LG) rose 62 percent to 13.89 billion naira ($95 million), the Nigerian Stock Exchange (NSE) said on Monday. The company said it made a 162.4 million naira net profit, compared to a 190.6 million naira ...
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