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Russia delays gas flaring target to 2014

MOSCOW - Russia has delayed its plan to reduce gas flaring to 5 percent within three years to 2014, Russia's Natural Resources Minister Yuri Trutnev said on Thursday. Flaring gas that is found when extracting oil, and is considered too hard or expensive to get to market, sends ...

India's HPCL sells oil bonds to cbank

NEW DELHI - Indian state-run refiner Hindustan Petroleum Corp (HPCL.BO: Quote, Profile, Research, Stock Buzz) sold special oil bonds worth 2.05 billion rupees ($41.2 million) to the central bank on Thursday, a company official said. The bonds were sold under the central bank's ...

Norway bumps up 2009 oil/gas investment view

RIYADH - Saudi Arabia's newly declared $75 a barrel target price for oil aims to ensure crude export revenues can fund ambitious development plans in the kingdom. Saudi King Abdullah on Saturday said that $75 was a fair price for oil, the first time in years that the world's top ...

Oil falls $3 to lowest in nearly 4 years

NEW YORK - Oil fell more than 6 percent on Thursday to its lowest level in nearly four years in response to further bleak economic data that could spell a deeper decline in global energy demand. The number of U.S. workers on jobless rolls hit a 26-year high last month, the ...

Option bulls emerge in AMR Corp as crude oil falls

CHICAGO - The drop in crude oil prices on Thursday may have spurred some investors to scoop up bullish call options in AMR Corp's American Airlines in hopes of catching extended share price gains in the next few months. In afternoon trade, about 16,000 calls and 1,644 puts traded ...

Oil drop and Schlumberger warning hits energy stocks

SAN FRANCISCO - U.S. energy stocks took another beating on Thursday as oil and natural gas prices tumbled and analysts reeled in expectations for next year after a warning from the world's largest oil services company. Analysts said any energy companies hoping to rely on ...

Australian oil, gas sector over-regulated

CANBERRA - Australia's oil and gas industry is burdened by unnecessary regulation, slowing multi-billion dollar investments, and reform is urgently needed, the government's main independent adviser said on Thursday. The booming energy sector was hampered by overlapping rules ...

Oil falls over $1 after OPEC defers cut

SINGAPORE - Oil fell more than a dollar on Monday, toward $53 a barrel, after producer cartel OPEC decided to delay a decision on a third supply cut to its next meeting later in December as economic woes cripple oil demand. Gulf producers want to see strict compliance with recent ...

Nippon Oil, Nippon Mining to merge, slash output

TOKYO - Japan's top oil refiner, Nippon Oil Corp, is merging with sixth-ranked Nippon Mining Holdings Inc, as it aims to cut capacity and better cope with falling prices and slowing demand. The new firm expected to cut crude oil refining capacity by 400,000 barrels per day by ...

OPEC needs unity quickly to stem oil's slump

LONDON - Oil's fall further below Saudi Arabia's "fair price" of $75 a barrel will increase pressure on OPEC to set aside any differences and cut supply further when it meets later this month. The market slid nearly $5 to below $50 a barrel on Monday after OPEC at the weekend ...

Public views to be sought for oil reforms

BEIJING -- The State Council said Wednesday it will seek public inputs on refined oil price reforms and the long-awaited fuel oil tax scheme. The move is seen as a vital step to boost domestic demand as the government goes ahead with its steps to bolster economic sentiment. The ...

Iraq, CNPC put final signature on oil deal

BAGHDAD - Iraq's state-owned North Oil company and representatives of the Chinese National Petroleum Corp. (CNPC) have put final signatures on a 20-year deal to pump Iraqi crude, the Iraqi Oil Ministry said on Tuesday. CNPC head Jiang Jiemin and Iraqi officials attended the ...

Multi-functional organometallic switch

St phane Rigaut, Corinne Lagrost, Karine Costuas and colleagues from CNRS-University of Rennes have prepared a photo/electrochromic multifunctional switching system, based on Irie's dithienylethene photochromic unit ([Cl(dppe)2Ru]+ where dppe = 1,2-bis(diphenylphosphino)ethane). ...

Iraq lawmaker says Shell deal lacks transparency

BAGHDAD - The head of Iraq's parliamentary Oil and Gas Committee said on Saturday he was concerned about a lack of transparency in a flare gas contract which the government has signed with oil major Royal Dutch Shell. Shell is finalizing details of the multi-billion-dollar plan, ...

Oil supply "more than comfortable"

BEIJING - Oil supplies are "more than comfortable" given a global economic environment which is hitting demand, but low prices threaten investment to secure longer-term supplies, Saudi Aramco's chief executive was quoted as saying. "Considering the present financial and economic ...

Gas prices continue to fall: survey

NEW YORK - The average retail price for a gallon of gasoline in the United States fell more than 48 cents per gallon in the past two weeks to $2.30, according the latest nationwide Lundberg survey. Though it is a smaller price drop than the prior two-week period it is still the ...

Russia producers cut Nov oil exports, cite high duty

MOSCOW - Russian oil firms are shipping only three quarters of their planned November exports as a government order to cut oil export duties failed to make exports profitable again, Russia's pipeline monopoly said on Sunday. Traders predicted in late October that Russian oil ...

OPEC to cut supply in December if market unchanged: Iran

DUBAI - OPEC will cut oil output again if the trend toward lower prices and slowing demand growth are unchanged when the group meets in December, Iran's OPEC Governor Mohammad Ali Khatibi told Reuters on Sunday. The credit crisis and economic slowdown could shave as much as 3 ...

How dangerous are gases from ship containers for consumers?

07 Nov 2008 - Ship containers are frequently treated with gas to combat pests. Dock workers who open the containers, warehouse workers who repack the goods and consumers who then purchase these goods, may be exposed to gas residues. In recent years minor health impairments linked ...

Galapagos sells San Diego chemistry facility to ChemVentures

07 Nov 2008 - Galapagos NV announced that it has completed the sale of its BioFocus DPI chemistry facility in San Diego to ChemVentures Pty Ltd, an Australian discovery research group. Financial terms were not disclosed. The San Diego facility currently employs 40 people and ...
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