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Oil gives back early gains, settles lower

Business | Energy
2010-9-10

OIL prices fell back yesterday, after getting an early boost from lower U.S. jobless claims and crude inventories. Benchmark oil for October delivery lost 42 cents to settle at US$74.25 a barrel on the New York...

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PetroChina starts work at Guangxi refinery

Business | Energy
2010-9-10

PETROCHINA has started an oil refinery with annual capacity of 10 million tons in southern China's Guangxi Province to supply high quality fuel to southwestern areas. Just days ago, the country's biggest oil...

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Oil higher as stocks rise, Europe worries ease

Business | Energy
2010-9-9

OIL prices followed stocks higher yesterday, as worries about European debt problems eased and buyers returned to the market. Benchmark crude for October delivery rose 58 cents to settle at US$74.67 a barrel on...

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Dana snubs KNOC US$2.6b bid

Business | Energy
2010-9-9

DANA Petroleum rejected a hostile 1.67 billion pound (US$2.57 billion) bid from Korea National Oil Corp yesterday, citing an independent valuation that said the UK explorer was worth considerably more. Dana also...

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EDF sells UK assets to HK firm

Business | Energy
2010-9-9

FRENCH major electricity producer EDF Group approved late Tuesday to sell its UK electricity distribution networks to Cheung Kong Infrastructure Holdings Ltd, saying this would help to cut 6.8 billion euros (US$8.6...

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Oil falls on Euro bank worries

Business | Energy
2010-9-8

CRUDE oil prices retreated yesterday as fears about the global economy resurfaced following reports that European banks may have more risky government debt on their books than previously thought. Benchmark crude...

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CNOOC's 4-way deal

Business | Energy
2010-9-8

CHINA National Offshore Oil Co Ltd announced yesterday that Chevron China and BP China will explore three deepwater oil and gas blocks in the South China Sea by acquiring shares from Devon Energy Corp. China National...

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Oil drops to near US$74 as traders eye US economy

Business | Energy
2010-9-7

OIL prices slipped to near US$74 a barrel yesterday as traders weighed whether growing Chinese demand can offset weak U.S. fuel consumption amid high unemployment. By early afternoon in Europe, benchmark oil for...

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Shanghai's new energy boom

Business | Energy
2010-9-6

SHANGHAI'S output of new energy cars will reach 30 billion yuan (US$4.41 billion) by 2012, authorities said yesterday. It will also build 25,000 charging stations for battery or hybrid vehicles by 2012, said Wang...

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Oil settles below US$75 after jobs report

Business | Energy
2010-9-4

OIL prices retreated yesterday after a closely watched US employment report threw cold water over future energy demand from the world's largest economy. Benchmark crude for October delivery fell 42 cents to settle...

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Sale to help burger chain fight Big Mac

Business | Energy
2010-9-4

BURGER King Holdings Inc has agreed to sell itself to investment firm 3G Capital for US$3.26 billion, giving the No. 2 United States fast-food chain breathing room to fix its business and close the gap with leader...

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PetroChina wins nod to boost capacity

Business | Energy
2010-9-4

PETROCHINA Co has won government approval to double the capacity of its Huabei oil refinery to supply high-quality fuels to northern regions of the country. The expansion will make the Hebei Province-based Huabei...

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Oil rises further on Earl threat to refineries

Business | Energy
2010-9-3

US crude oil futures rose further yesterday afternoon after a warning from the US Energy Information Administration that US East Coast oil refineries were threatened by Hurricane Earl. News that an oil and gas...

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Pipeline progress

Business | Energy
2010-9-3

THE Chinese section of the Russia-China oil pipeline is due for completion by the end of October, officials said yesterday. According to the agreement signed between China and Russia, 500,000 tons of crude would...

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Oil ends higher on upbeat US, China data

Business | Energy
2010-9-2

OIL rose yesterday, rebounding after two days of declines to finish nearly 3 percent higher as strong manufacturing data from China and the United States revived risk appetite and eased worries about flagging energy...