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Oil price near US$100 on global security concerns 

Business | Energy
2011-12-24

OIL prices rose above US$100 a barrel Friday as worries over global security issues outweighed weak economic data in the US Benchmark crude ended the day at US$99.68 per barrel in New York, up 15 US cents. It rose...

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Three Gorges wins bid for EDP stake 

Business | Energy
2011-12-24

CHINA Three Gorges Corp has won a bid to buy a 21 percent stake in Portuguese utility EDP for 2.69 billion euros (US$3.5 billion), beating rivals from Germany and Brazil, as the south European nation sells state assets...

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Three Gorges wins bidding war for Portugal EDP stake 

Business | Energy
2011-12-23

CHINA Three Gorges Corp has won a bid to buy a 21 percent stake in Portuguese utility EDP for 2.69 billion euros (US$3.5 billion), beating rivals from Germany and Brazil, as the southern European nation sells state...

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Oil rises for 4th day, touches US$100 a barrel 

Business | Energy
2011-12-23

OIL prices rose for the fourth day in a row yesterday amid signs of an improving US economy and concerns about global supplies. The price of benchmark crude rose 86 cents to finish at US$99.53 per barrel in New...

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Yanzhou gains 4 coal assets with purchase of Gloucester 

Business | Energy
2011-12-23

YANZHOU Coal Mining Co has agreed to buy Gloucester Coal Ltd for about A$700 million (US$709 million) and a 23 percent stake in its Australian unit, gaining mines and port capacity in the largest coal-exporting nation. ...

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Oil prices rise on lower inventories 

Business | Energy
2011-12-22

OIL prices rose yesterday after a government report showed a dramatic drop in US crude supplies. Benchmark crude rose US$1.43 to finish at US$98.67 a barrel in New York. Brent crude was up 98 cents, ending at US$107.71...

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ConocoPhillips vows oil spill damages 

Business | Energy
2011-12-22

UNITED States energy firm ConocoPhillips yesterday again promised to offer compensation for damages caused by oil spills at its two platforms off China's northeast coast, but the company refrained from offering more...

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Shell Shuts Down Leaking Nigeria Oilfield 

Business | Energy
2011-12-22

ROYAL Dutch Shell is shutting down its 200,000 barrels per day Bonga oilfield off the Nigerian coast after a leak occurred while loading a tanker on Tuesday, the firm said in a statement yesterday. Shell said...

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Hoku Starts First Project Since Takeover 

Business | Energy
2011-12-22

HOKU Corp, a solar energy product company based in Hawaii in the United States, has started production of polysilicon as the first project after a majority of the company was purchased by a Chinese company. The...

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US solar firms against China duties 

Business | Energy
2011-12-22

A COALITION that says it represents 97 percent of the United States solar industry has urged solar panel maker SolarWorld to withdraw a petition asking US President Barack Obama's administration to slap punitive duties...

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Whiff of gas sector consolidation in the air as Sinopec looks to expand 

Business | Energy
2011-12-22

SINOPEC Corp's joint bid to buy China Gas Holdings Ltd last week signals that a new wave of consolidation may be brewing in China's gas distribution sector, putting Sinopec in more direct competition with rival PetroChina...

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Oil giant subsidiary 'refusing to pay sewage bill' 

Business | Energy
2011-12-22

A subsidiary of China's leading oil refiner Sinopec in Nanjing, capital of the eastern province of Jiangsu, has been accused of refusing to pay more than 80 million yuan (US$12.62 million) in sewage treatment charges. ...

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Oil price jumps more than 3% 

Business | Energy
2011-12-21

OIL prices soared on promising economic news out of Europe and the US. Benchmark crude yesterday rose US$3.34, or 3.6 percent, to end the day at US$97.22 per barrel in New York. Brent crude, which is used to price...

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Shengli Oilfield Aims To Boost Crude Output 

Business | Energy
2011-12-21

CHINA'S second largest oil field, Shengli Oilfield, aims to boost its crude oil output to 27.5 million tons in 2012, up 160,000 tons from the target this year. As the flagship oil producing unit of China's state-owned...

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CNOOC shuts down platforms after subsea pipeline leak 

Business | Energy
2011-12-20

CNOOC Ltd, China's dominant offshore energy producer, has reported another leak in a subsea gas pipeline that forced it to close production at two fields in the South China Sea. The leakage was found in the pipeline...