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Oman eyes oil output boost for 2nd year in 2009

MUSCAT, Feb 9 - Gulf Arab producer Oman aims to boost total oil output for the second consecutive year in 2009 after halting a six-year production decline from ageing fields last year, a top official said on Monday. While neighbouring members of the Organization of Petroleum ...

Oil prices face bigger hit as U.S. storage hub brim

NEW YORK - Dwindling fuel demand, with the United States mired in recession, has led to a record oil supply glut at the world's largest storage site -- a factor that could soon trigger another fall in crude prices. Inventories at the storage hub at Cushing, Oklahoma -- the ...

Japan's Cosmo Oil may restart oil units this week

TOKYO, Feb 9 - Japanese refiner Cosmo Oil Co (5007.T) may be allowed to restart secondary units at its Yokkaichi refinery as early as this week, an official with the local fire department said on Monday. The 13,500 barrels per day No.3 catalytic reformer at the western Japan...

Iraqi oil minister says OPEC likely to cut production

BAGHDAD, Feb. 7 -- OPEC members are expected to decide to cut oil production in March in an attempt to raise oil price to70 U.S. dollars a barrel, Iraqi Oil Minister said on Saturday. "OPEC members will meet in March, and there is an intention to decide further cut to raise ...

S Korean overseas energy investment marks record high in 2008

SEOUL, Feb. 9 -- The total investment South Korea made last year to develop overseas oil and gas fields amounted to a record high of 4.02 billion U.S. dollars, the Ministry of Knowledge Economy said on Monday. According to the ministry, the investment was expanded to brace for ...

Saudi pauses after cuts, keeps Asia oil supply steady

TOKYO/SEOUL - Saudi Arabia will maintain steady oil supplies to major Asian buyers in March, industry sources said on Monday, suggesting the world's top oil exporter may be pausing its production cuts to see if prices stabilize. After deepening supply curbs to Asian refiners ...

Britain's BG offers $538 million for Pure Energy

PERTH - Britain's BG Group Plc (BG.L) has offered A$796 million ($538 million) for Australia's Pure Energy Ltd (PES.AX), trumping a bid by Arrow Energy Ltd (AOE.AX), in the latest deal in Australia's coal seam gas sector as firms seek to boost their gas reserves. BG, in its third ...

Korea Gas sees LNG '09 import costs up 5 pct y/y

SEOUL, Feb 9 - State-run Korea Gas Corp (KOGAS) (036460.KS) expects import costs of liquefied natural gas (LNG) in 2009 to be 5 percent higher than 2008, company officials said on Monday. KOGAS expects to pay an average of 565.74 won per cubic metre of natural gas this year, or ...

Oil flat near $40 after drop on shares, inventories

SINGAPORE - Oil stood little changed around $40 a barrel on Thursday, after falling the previous day on lower share prices and after data showed U.S. crude inventories rose under the weight of an economic slowdown. Crude stocks in the world's top energy consumer jumped by 7.2 ...

India's IOC says may buy 30,000 bpd Cairn crude

BARMER, India, Feb 4 - State-run Indian Oil Corp (IOC.BO) may buy 1.5 million tonnes a year, or 30,000 barrels per day, of crude oil from Cairn Energy (CAIL.BO) (CNE.L) after it starts production at its Indian field this year, an IOC official said. "We can buy up to 1.5 million ...

Iraq oilfields ready for revival, await foreigners

BASRA, Iraq - Next to a pipeline snaking across a desert in Iraq's south, villas built to house an expected influx of foreign oil workers stand empty. Nearby, a faded plaque in Russian and Arabic commemorates the opening of a pumping station in 1972, a reminder of the foreign ...

Oil sands on agenda for Obama's Canada visit: Harper

TORONTO - Canada's oil sands, a vast potential oil source that critics say comes at a big environmental cost, will be on the agenda when Barack Obama visits Canada on his first foreign trip as U.S. president, Prime Minister Stephen Harper said on Tuesday. Harper told a Calgary ...

Worried EU states to fly to Moscow over gas row

MOSCOW/KIEV - Russia and Ukraine faced another day of sparring over gas supplies on Wednesday and two European Union states launched fresh diplomacy to end a dispute that is weighing heavily on their economies. Russia began pumping gas meant for Europe via Ukraine on Tuesday for ...

Oil rises 3 percent on U.S. cold snap

PERTH - Oil rose 3 percent toward $39 a barrel on Wednesday, as OPEC kept up its talk of production cuts and a cold snap in the United States boosted heating oil demand. Top exporter Saudi Arabia said on Tuesday it was prepared to go even further than cuts it had made since ...

Oil firm Repsol rises on reported Sinopec interest

MADRID - Spanish builder Sacyr Vallehermoso is in talks to sell its 20 percent stake in oil major Repsol YPF to China's Sinopec Corp, Cinco Dias reported on Wednesday. Both Sacyr and Repsol declined to comment on the report which pushed shares in Repsol higher, despite a ...

Futures point to higher open, oil eyed

LONDON - European stock index futures pointed to a higher start on Wednesday after falling for five straight sessions, with a rise in crude prices seen supporting oils shares, but worries about a tough earnings season may cap gains. At 0735 GMT, futures for the Eurostoxx 50 ...

OPEC oil prices rebound slightly

VIENNA, Jan. 12 -- The weekly average prices of the Organization of Petroleum Exporting Countries (OPEC) rebounded slightly above 40 U.S. dollars per barrel last week to 43.99 U.S. dollars, the Vienna-based cartel said on Monday. The weekly oil prices were 7.70 U.S. dollars per ...

Georgia resumes Russian gas transit to Armenia

TBILISI, Jan 13 - Russian gas supplies to Armenia through Georgia have resumed after repair work on the main pipeline, the Georgian Energy Minister said on Tuesday. Supplies were halted on Friday after high pressure damaged the pipeline at four points in southern Georgia, causing ...

Crude ends down on demand worry, shrugs cold

NEW YORK, Jan 12 - U.S. crude oil futures ended down nearly 8 percent on Monday on demand concerns, in a follow-through of Friday's sharp losses spurred by a gloomy jobs report. The dollar rose to a one-month high against the euro and Russia signaled it would restart natural gas ...

Senior Democrat reintroduces anti-OPEC bill

WASHINGTON - A senior Democratic senator reintroduced legislation on Monday that would allow the U.S. Justice Department to bring legal action against OPEC and others it believes collude to push up the price of oil. Sen. Herb Kohl's office said in a statement that the bill would ...
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finance

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Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
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trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
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Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
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