Petroleum industry
Lukoil President Vagit Alekperov recently expressed support for a proposal from the Federal Antimonopoly Service to increase the gasoline excise tax at the level of inflation. Alekperov emphasized the importance of balancing tax increases with price adjustments, stating that raising the excise tax by 1% would lead to a 10%
Petroleum industry
China's economic growth shows no signs of slowing, with key regions exhibiting strong performances in various sectors. South China's Guangdong Province, a major driver of the country's economic growth, saw a significant rise in commercial housing sales, while Central China's Hunan Province
Petroleum industry
SYSmark 2012, the latest version of the premier performance metric, has been released by the Business Application Performance Corporation (BAPCo), a non-profit consortium of leading PC hardware manufacturers and semiconductor manufacturers. This new release extends the SYSmark family, which includes MobileMark and EEcoMark, and has been widely accepted by IT
Petroleum industry
Market sentiment was weighed down by the Federal Reserve's cautious remarks and the joint plan by the Obama administration and the International Energy Agency (IEA) to release 60 million barrels of oil from emergency reserves. This led to a decline in crude prices and a downturn in the
Petroleum industry
Petrobras, a Brazilian oil and gas giant, has recently announced new oil discoveries in the Cretaceo reservoirs of the Espirito Santo Basin and four adjacent blocks in the Gulf of Mexico, in partnership with US ExxonMobil. Despite the positive news, Bradesco's analysts remain cautious, reiterating a "market
Petroleum industry
Scientists at the 2011 Institute of Food Technologists (IFT) Annual Meeting and Food Expo reassured the public that Gulf of Mexico seafood is safe to eat, despite lingering concerns about the BP oil spill. The BP oil spill led to extensive testing by the Food and Drug Administration (FDA) and
Petroleum industry
SYSmark 2012, the latest version of the premier performance metric, has been released by the Business Application Performance Corporation (BAPCo). This new release extends the SYSmark family, which has been widely accepted by IT managers, PC OEMs, press, and analysts worldwide. SYSmark 2012 incorporates numerous new features and enhancements, including
Petroleum industry
Violence has marred Iraq's efforts to build up its oil infrastructure as the last US troops prepare to withdraw by the end of the year. A bomb attack on a southern oil storage depot set a tank ablaze, but did not affect crude exports. The incident underscored the
Petroleum industry
State-owned oil companies in India are likely to raise petrol prices, just two weeks after a price hike of up to Rs 5 per liter was implemented to offset losses from selling fuel below cost. The move comes despite the recent increase, with oil ministry officials indicating that the government
Petroleum industry
Stocks closed higher Wednesday for the first time this week, as rising oil prices helped offset concerns about the global economic recovery. The rally came despite worries over Europe's debt crisis and a report that Japan's exports fell by 12.5 percent in April. Higher prices
Petroleum industry
As the G20 Agriculture Ministers meet for the first time in Paris, the Global Renewable Fuels Alliance (GRFA) emphasizes the need to focus on the root cause of rising food costs: the high price of crude oil. The GRFA, a non-profit organization promoting biofuel-friendly policies, highlights the direct link between
Petroleum industry
As the country grapples with soaring gas prices, the US Senate is set to take up a bill that would repeal about $2 billion a year in tax breaks for the five biggest oil companies. The evening vote is expected to fail, but Democrats hope to build their case to
