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Bohai Bay oil spill

Business | Energy
2011-9-17

ABOUT 6.56 liters of oil leaked into north China's Bohai Bay from ConocoPhillips' platform C in the Penglai 19-3 oilfield on Thursday, an increase from 1.66 liters on Wednesday, the State Oceanic Administration said...

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Oil rises as concerns ease for eurozone

Business | Energy
2011-9-16

OIL climbed near US$90 per barrel yesterday on some potentially positive developments in Europe that could help stabilize a fragile economic situation. The European Central Bank said it will provide banks with...

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Oil drops on decline in retail spending

Business | Energy
2011-9-15

OIL prices dropped below US$89 per barrel again yesterday as the latest government data showed Americans holding tighter to their wallets. Americans spent less on autos, clothing and furniture last month, according...

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Oil rises on expected drop in supplies

Business | Energy
2011-9-14

OIL prices rose yesterday on the anticipation that a recent tropical storm caused a major disruption in supplies. The government will report petroleum supply levels today. According to a poll by Platts, the energy...

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International oil prices fall as demand eases

Business | Energy
2011-9-13

DRIVERS and businesses will use a little less fuel than previously thought this year, and that hurt international crude prices yesterday. Brent crude, which is used to price many international oil varieties, fell...

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Oil down more than 3% on Europe debt concerns

Business | Energy
2011-9-10

OIL dropped yesterday on growing concerns about Europe's economy. At the gas pump the national average for a gallon of regular hit US$3.659 yesterday - a record for this time of year. A gallon of gas is nearly...

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Oil around US$89 ahead of Obama speech on jobs

Business | Energy
2011-9-9

OIL stayed around US$89 a barrel yesterday ahead of President Barack Obama's speech on jobs and the economy. Investors hope to get a clearer picture of where the economy is headed when Obama speaks about jobs...

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CNPC To Sell Bonds

Business | Energy
2011-9-9

CHINA National Petroleum Corp plans to sell 20 billion yuan (US$3.1 billion) of 10-year bonds, according to three people familiar with the matter. Sixteen billion yuan will be used to fund the second West-East...

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Accord to lift gas supply sealed

Business | Energy
2011-9-9

CHINA has signed an accord with Kazakhstan to expand the capacity of a pipeline network delivering natural gas from central Asia by more than 80 percent. The two governments agreed to build the Kazakh section of...

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Oil rising as storms cut production

Business | Energy
2011-9-8

OIL surged nearly 4 percent yesterday on the expectation that tropical storms will further hamper oil production in the Gulf of Mexico and squeeze supplies. Benchmark US crude on yesterday jumped US$3.32, or 3.9...

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Cut in energy use

Business | Energy
2011-9-8

CHINA yesterday said it plans to cut energy consumption per 10,000 yuan (US$1,563) of gross domestic product by 16 percent in 2015 from the level of last year. Energy use per 10,000 yuan of GDP will drop to 0.869...

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ConocoPhillips to set up oil spill clean-up fund

Business | Energy
2011-9-7

CONOCOPHILLIPS today said it would establish a fund to deal with costs related to an oil spill in China's Bohai Bay which has drawn strong criticism from the Chinese government. This fund will be designed to address...

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Oil tumbles on fears of economic slump

Business | Energy
2011-9-7

OIL dropped more than 2 percent yesterday on fears that the US and Europe are headed for a prolonged economic slump. Benchmark West Texas Intermediate crude lost US$2.01 to US$84.44 per barrel in New York. The...

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Oil falls to under US$85 after weak US jobs report

Business | Energy
2011-9-6

OIL prices extended losses and fell below US$85 a barrel yesterday as a dismal US jobs report suggested demand for crude in the world's largest economy will drop. By early afternoon in Europe, benchmark oil for...

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CNPC wins Afghan oilfield bid

Business | Energy
2011-9-6

CHINA National Petroleum Corp, the nation's biggest oil and gas company, has won a bid to develop an oilfield auctioned in north Afghanistan, beating rivals from Australia, Britain, the United States and Pakistan. ...