industry

OSLO, Feb 5 - Norwegian StatoilHydro (STL.OL) said it had made a natural gas and condensate discovery about 10 kilometres from the Frigg field in the North Sea. The well has proven recoverable volumes in the region of 6-19 million barrels of oil equivalent. "It is gratifying that ...
BRUSSELS, Feb. 3 -- The European Parliament on Tuesday set out wide-ranging recommendations for the future European Union(EU) energy policy, including mandatory emergency action plans in case of gas supply shortages, more grid interconnections among EU member states, a specific ...
LONDON, Feb 5 - British gas producer BG Group Plc (BG.L) said net profit, excluding one-off items, beat forecasts with a 25 percent jump in the fourth quarter comparedwith the same period in 2007 and gave a buoyant outlook for growth. BG said in a statement released on Thursday ...
WASHINGTON - Reversing Bush administration policy, the U.S. Interior Department on Wednesday canceled energy leases that would have opened lands near national parks in Utah to oil and natural gas drilling. "I have directed (the department's) Bureau of Land Management not to ...
BAGHDAD, Feb. 3 -- Iraqi Oil Ministry Tuesday gave a two-week extra time for foreign oil firms to send in documentation for the second round of licensing for long-term development contracts. "Petroleum Contracts and Licensing Directorate of Oil Ministry is pleased to announce the ...
UNITED NATIONS, Feb. 3 -- The United Nation's top court has ruled that Ukrainian ownership of Serpent Island -- a rocky outcrop in the Black Sea -- does not entitle the country to exclusive rights to an undersea area, thought to be rich in hydrocarbons, it had disputed for ...
ANCHORAGE, Alaska - Alaska revenue officials said on Tuesday they have lowered their expectations for North Slope crude oil prices and are expecting a much bigger budget deficit than earlier estimated. Prices for Alaska North Slope crude are expected to average $63.28 a barrel ...
LUANDA, Feb. 5 -- The U.S. oil company Chevron is to increase its crude oil production from 520,000 barrels per day (bpd) now to 620,000 bpd at the end of this year, Angola's official news agency ANGOP reported on Thursday. Cesaltino Pedro, counselor for operation of the Blocks 0 ...
DUBAI - Oil demand growth in the Middle East will slow but stay robust in 2009 as governments in the world's top exporting region boost spending to cushion the impact of the global economic slowdown. The deteriorating world economy was expected to burn less oil for the second ...
KUALA LUMPUR, Feb 6 - Malaysia's Sime Darby, the world's largest palm producer in terms of estates owned, plans to invest upto $360 million on a groundwater project and venture into rice farming, the Star newspaper reported on Friday. With palm prices plummeting nearly 60 percent ...
WARSAW, Feb 4 - Poland's biggest refiner PKN Orlen PKNA.WA expects to post a loss for the fourth quarter and all of 2008 due to a sharp depreciation in the zloty and sees a big charge related to its oil reserves, it said late on Tuesday. The state-controlled company said the ...
PRAGUE, Feb 4 - The 2008 fourth quarter operating profit (EBIT) at Czech oil refiner Unipetrol (UNPEsp.PR) will likely be negative, the company said in a statement released late on Tuesday. Unipetrol, 63 percent-owned by Poland's PKN Orlen PKNA.WA, has suffered in past quarters ...
BEIJING, Feb 9 - China's top refiner Sinopec (0386.HK) (600028.SS) said it planned to produce 10 percent more of crude oil in its northwest oil field this year despite falling oil prices and demand. The northwest field will produce 6.59 million tonnes (131,800 barrels per day) of ...
PORT HARCOURT, Feb 7 - Nigerian militants attacked a gas plant operated by Royal Dutch Shell (RDSa.L) in the Niger Delta on Saturday and warned of more attacks to come, but the army said it had repelled the raid and killed three gunmen. The Movement for the Emancipation of the ...
ABIDJAN, Feb 5 - A plague of moth caterpillars that has devastated vegetation and infested villages in Liberia is moving north and is unlikely to attack cocoa plantations in No. 1 grower Ivory Coast, a top researcher said on Thursday. Millions of caterpillars have eaten the ...
LA PAZ, Feb. 4 -- Bolivia, Venezuela, Mexico and Ecuador will have budget difficulties this year amid the global financial crisis, the UN Economic Commission for Latin America and the Caribbean (ECLAC) forecast. Most of these nations' fiscal incomes come from the exploitation and ...
ZURICH, Feb 5 - Europe's largest independent crude oil refiner Petroplus (PPHN.VX) made a net loss of $762 million in the fourth quarter to end-December, hit by writedowns on its inventory, missing forecasts. Petroplus said on Thursday lower crude oil prices affected the value of ...
HELSINKI, Feb 5 - Finnish refiner Neste Oil (NES1V.HE) reported on Thursday a smaller-than-expected rise in core earnings due to the rapid fall in oil prices, and said the weak economy would pressure diesel margins and gasoline demand. "Demand for gasoline, together with gasoline ...
WASHINGTON - The U.S. Energy Information Agency is set to release a world fuel demand forecast on Tuesday that analysts expect will add to the dismal petroleum outlook for 2009. Last month, EIA forecast world oil demand would drop by 810,000 barrels per day in 2009 compared with ...
BEIJING, Feb 10 - China may consider raising the oil-price threshold for firms facing windfall taxes, from $40 a barrel to $60, as part of proposals to help companies in the petroleum and chemical sectors, a business paper said on Tuesday. Introduced in 2006, the windfall tax ...
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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
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IMF chief warns of risks to recovery
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DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
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Chinese investors look to overseas opportunities
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Retailer's Net Profit Falls 3%
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A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
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Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
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History-making tennis legend Li Na notched the first-ever grand slam ...