industry

KUWAIT - Oil prices are expected to rise in coming days as OPEC's output cuts kick in and demand rises because of cold weather, a Kuwaiti oil official said in remarks published on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) agreed last month to its ...
MOSCOW/KIEV - The European Union sought to finalize details on Friday of a gas monitoring deal to allow the resumption of gas supplies to Europe via Ukraine, which have been cut off for days over a pricing row. But Ukraine made clear the continued political rancor underlying the ...
DUBAI - Qatar is able to withstand a fall of oil prices to less than $30 per barrel because of expanding gas production in the world's top exporter of liquefied natural gas (LNG), Oil Minister Abdullah al-Attiyah said on Sunday. "We adjust with the changes," Attiyah said, quoted ...
BEIJING - Top Chinese oil firm CNPC said it aims to raise oil and gas production by 5 percent annually and maintain an increase in its total investment despite the global financial turmoil, as it hopes to keep its edge in the world's second-largest oil market. In addition to ...
TEHRAN - Iran has submitted a $1.7 billion proposal for developing a part of the second phase of neighboring Azerbaijan's enormous Shakh-Deniz offshore gas deposit, a semi-official news agency reported on Saturday. "We are interested in having at least a 10 percent share of the ...
NEW YORK - Oil prices fell 2 percent on Friday after data showing a big rise in U.S. unemployment deepened the gloomy outlook for the world's biggest oil consumer. U.S. crude for February delivery settled down 87 cents at $40.83, with late short-covering pulling prices above ...
CALGARY, Alberta, Jan 9 - Shares of Canadian oil producers, hard hit by crashing commodity prices and the credit crunch, have staged a quiet comeback since bottoming out in November and observers say the takeover chatter that roiled the market late last year may return as ...
MOSCOW/KIEV, Jan 9 - Europe sought a swift restoration of gas supplies on Friday after striking a deal with Moscow on monitoring gas shipments via Ukraine that have been halted by a pricing dispute with Kiev. A spokesman for Prime Minister Vladimir Putin confirmed on Friday that ...
LONDON - Russia and Ukraine on Tuesday accused each other of blocking gas exports to European neighbors as their clash over pricing intensified. Russian gas supplies via Ukraine stopped to a series of countries from Turkey to France on Tuesday as sub-zero temperatures increased ...
MOSCOW - Slashing Russia's oil export duty to zero would be premature since the plan, sought by the oil industry, does not take into account a weakening rouble, Finance Minister Alexei Kudrin said on Saturday. Russia, the world's second-largest oil exporter, is likely to slash 38 ...
MOSCOW - Russia threatened Ukraine with sanctions over its gas debt on Wednesday but its gas monopoly Gazprom floated a compromise that could keep gas flowing to Kiev and ensure smooth transit to Europe after a January 1 deadline. Russia and Ukraine are locked in a gas dispute, ...
ORAN, Algeria -- OPEC on Wednesday agreed on a deepest-ever net cut of 2.2 million barrels per day (bpd) as of Jan. 1, bringing the total output cut in 2008 to 4.2 million bpd, in another attempt to bolster sagging oil prices under the global economic slowdown. Yet analysts say ...
NEW YORK -- Crude oil tumbled to its lowest level in nearly four and a half years on Wednesday as an OPEC production cut failed to boost the bearish market sentiment over slumping demand. Light, sweet crude for January delivery slid 3.54 U.S. dollars to settle at 40.06 dollars a ...
NEW YORK - The oil resource nationalism trend seen over the past six years may be scaled back or reversed as producer countries are forced to seek greater foreign investment to counter lower crude prices and shrinking budgets. Big oil producing nations from Russia to Venezuela, ...
ORAN/MOSCOW - Azerbaijan, facing oil production problems, on Wednesday became the only non-OPEC nation to offer output cuts, while Russia refrained from making firm pledges despite previous declarations that it could. Russia, the world's No.2 oil exporter, had been expected to ...
NEW YORK - Oil fell 2 percent on Tuesday as worries about shrinking global energy demand countered a U.S. Federal Reserve interest rate cut and expectations OPEC will reduce supplies further. Oil ministers from the Organization of the Petroleum Exporting Countries were near a ...
NEW YORK -- Crude oil tumbled Tuesday as the U.S. Federal Reserve interest rate cut revived investors' concern about slumping demand during the economic recession. Light, sweet crude for January delivery fell 91 cents to settle at 43.60 U.S. dollars a barrel on the New York ...
DOHA - U.S. firm Occidental (OXY.N) is the front runner to win a contract to overhaul Bahrain's Awali onshore oilfield, the Gulf Arab state's top energy official said on Sunday. "We have ranked them (bidders) and Occidental is number one," Abdul-Hussein Mirza told reporters. ...
LONDON - Oil's collapse by more than $100 a barrel has made July's all-time high above $147 seem a distant memory but many analysts now expect a rebound and say crude's bear market may prove to have been exceptionally brief. Oil prices could already have hit rock-bottom for 2008 ...
BAGHDAD - The Iraqi cabinet has again agreed to rein in its spending plans for 2009 due to falling oil prices, the government said on Tuesday. Government spokesman Ali al-Dabbagh said in a statement that the cabinet had agreed to accept recommendations made by the cabinet's ...
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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
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
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Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...
Retailer's Net Profit Falls 3%
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Gaming Firms Find Going Tough
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Boeing Wins Biggest Order of US$26b
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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 ...