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Russia, China suspend $25 billion oil loan talks: MOSCOW - Russia and China have suspended talks over $25 billion in loans to Russian oil companies due to disagreements over interest rates and state guarantees, two Russian sources close to the talks told Reuters on Wednesday. China was discussing lending Russian state oil major ...

Credit crisis adds to risk of oil supply crunch: LONDON - The credit crisis increases the risk the world's oil reserves will not be drilled fast enough to meet global demand growth, the International Energy Agency said on Wednesday. The agency's World Energy Outlook for 2008 stopped short of sounding the alarm oil supplies ...

China Oct crude imports grow fastest since July'07: BEIJING - China's October crude oil imports rose 28.2 percent from a year ago, their fastest since July last year and the third-highest daily rate on record, amid a slump in oil prices. Customs data showed on Tuesday that the world's second largest oil user shipped in 16.16 ...

Heat oil demand seen well above normal: NEW YORK - Cold Northeastern weather remains supportive of New York Harbor heating oil but distillates in general are under a pall near-term with ample supply coming from the Gulf Coast and across the pond, traders said Monday. "There's plenty of supply ... The pipe has plenty," ...

IEA says likely to cut oil demand growth forecast: LONDON - A slowing world economy may force the International Energy Agency to make a further cut in its oil demand growth forecast when it releases its latest monthly report on Thursday, the head of the IEA told Reuters. "We are likely to cut demand ... because the IMF changed ...

Oil could rebound to $100 a barrel in a year: NEW YORK - Oil tycoon T. Boone Pickens said on Wednesday that oil prices may be near bottom and could bounce back to near $100 a barrel a year from now. "You've got to be close to bottom because OPEC is going to cut supply and support the prices," Pickens told CNBC television in ...

U.S. 2008 oil demand to drop most since 1980: EIA: WASHINGTON - The weak U.S. economy will slash America's oil demand this year by 1.1 million barrels per day, or 5.4 percent, the first time annual oil consumption will fall by more than 1 million bpd since 1980, the federal Energy information Administration said on Wednesday. For ...

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of November 10, 2008: CRUDE OIL Oil prices ended the week of November 10, 2008 on a slightly improved note, despite a volatile week. Light sweet crude for December delivery rose to US$62.9 on the NYMEX, after plunging marginally below US$60. Concerns of global economic recession has intensified as the ...

Russia prepares to revise oil export duty monthly: MOSCOW - Russia will revise oil export duties monthly, rather than every two months, and may replace a mineral extraction tax with a levy on excess profits to shield the country's producers from sharp losses as oil prices fall. Prime Minister Vladimir Putin said the current ...

Canadian Natural expects acquisitions in 2009: CALGARY, Alberta - The energy-industry downturn could last another year, providing Canadian Natural Resources Ltd with acquisition opportunities, Murray Edwards, the company's vice-chairman, said on Tuesday. Canadian Natural, the country's second-largest independent oil company, ...

Chavez to fight for reforms despite opposition gains: CARACAS - Venezuelan President Hugo Chavez will plow on with socialist reforms and try to extend his rule even after losing local elections in power centers including dense city slums that once symbolized his support. Chavez's party held on to 17 of 22 states up for grabs in ...

Oil leaps 9 percent as OPEC, equities support: NEW YORK - Oil surged 9 percent to over $54 a barrel on Monday on expectations that OPEC will cut output again and as stock markets rallied off the U.S. government's plan to rescue U.S. bank Citigroup. U.S. crude rose $4.57 to settle at $54.50, while Brent crude settled up $4.74 ...

Oil slips to $54 after near 10 percent two-day gain: SINGAPORE - Oil slipped back to $54 a barrel on Tuesday, chipping away at a near 10 percent rally after a rebound in equity markets and expectations of another OPEC cut helped the market to its biggest two-day gain in two months. Oil prices leapt by 9.1 percent on Monday after ...

Iraq minister meets Kurds over oil deal disputes: BAGHDAD - Iraq's oil minister flew to the largely autonomous Kurdistan region on Monday for talks over disputed contracts the Kurds signed with oil companies but which the central government says are illegal, the government said. Deals the Kurdistan Regional Government (KRG) ...

OPEC weekly oil prices drop below 50 dollars: VIENNA -- The weekly average price of oil produced by the Organization of Petroleum Exporting Countries (OPEC) has dropped to a three-and-a-half-year low of 45.40 U.S. dollars per barrel (dpb), the cartel said Monday. OPEC's weekly average price fell to 45.20 dpb during the third ...

Price drop has yet to cut Canadian oil output: CALGARY, Alberta - Canadian energy companies have yet to start shutting down large volumes of oil production due to low prices, but the market meltdown has started to fuel some nervousness about the prospect. So far, a 66 percent drop in crude prices since July, coupled with the ...

OPEC should cut further 1 mln bpd: CARACAS - Venezuelan oil minister Rafael Ramirez urged OPEC on Sunday to agree to reduce supply by 1 million barrels per day at an emergency meeting in Cairo Nov. 29 and make the cut take effect before the end of the year. The cut would be aimed at shoring up prices by creating a ...

Nanotechnology in the focus of consumer health protection: In which foods and products are nanoparticles used? In what ways do consumers come into contact with nanoparticles? Does this lead to health risks? How can they be assessed? What information do consumers need about nanotechnologies? At the sixth BfR Consumer Protection Forum at ...

Strong waves cause oil spill at new Vietnam refinery: HANOI - A damaged offshore cargo hose at Vietnam's first refinery, scheduled to come onstream in February next year, has caused an oil spill off the country's central coast, provincial officials said on Wednesday. "We are working with the refinery operators to clean the spill," ...

Merrill cuts 2009 oil price forecast to $50/bbl: LONDON - U.S. bank Merrill Lynch cut its oil price forecast for 2009 to $50 a barrel from $90 on Wednesday, citing weaker prospects for global economic growth and a contraction in world oil demand. Merrill Lynch economists have lowered the growth of worldwide gross domestic ...

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sports

Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

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Li Na wins French Open women's singles title: History-making tennis legend Li Na notched the first-ever grand slam ...

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