Petroleum industry
Sinopec's acquisition of a minority stake in the Syncrude oil-sands plant is sparking concerns in Canada, particularly regarding the export of raw resources for processing. The deal allows Sinopec, Asia's biggest refiner, to gain control over key decisions, including whether to upgrade more oil in Alberta
Petroleum industry
The United States' trade deficit, largely fueled by a significant oil deficit, is a pressing economic concern. As highlighted in the Zacks Equity Research blog, a shift towards natural gas as a primary energy source could be a viable solution to alleviate this issue. The post discusses the benefits
Petroleum industry
Virent Energy Systems, Inc., and Shell announced the successful start of production at the world's first demonstration plant converting plant sugars into gasoline and gasoline blend components. Located at Virent's facilities in Madison, Wisconsin, the plant has a capacity to produce up to 38,000 litres
Petroleum industry
South Korea's Korea Export Insurance Corp. (KEIC) has announced its plans to provide financial support in the form of buyer credits to a Saudi Arabian oil refinery project being developed by local companies and French oil company Total. The Jubail refinery project, valued at $12.8 billion, aims
Petroleum industry
A report commissioned by the UK Government has concluded that biofuels played a relatively small role in the 2008 food crisis, while oil prices and speculative activities had a significant impact. The report found that countries imposing export restrictions on grains exacerbated the situation, and that oil prices accounted for
Petroleum industry
China North East Petroleum Holdings Ltd. (NYSE Amex: NEP) announced preliminary fourth quarter and full year oil production results, with crude oil production for 2009 totaling 908,126 barrels, a 41% increase from 645,856 barrels in 2008. The company's oil production in the fourth quarter of 2009
Petroleum industry
The China refined oil product industry is a highly competitive and rapidly evolving sector, driven by the country's increasing demand for energy. A recent report by Research and Markets provides a comprehensive analysis of the industry, covering its definition, development overview, macroscopic environment, and international market analysis. The
Petroleum industry
China is boosting its domestic needs, leading the way in the global economy, and creating opportunities for investors, corporations, and entrepreneurs. The "China crude oil processing and oil products manufacturing industry, 2010" report, announced by Research and Markets, provides in-depth analysis and detailed insight into the crude oil
Petroleum industry
The Indian oil industry is complying with US sanctions on Iran, according to Minister of State for Petroleum and Natural Gas Jitin Prasada. He stated in Parliament that no Indian oil firm, including Reliance Industries, has exported gasoline to Iran this fiscal year. The only instance of gasoline being supplied
Petroleum industry
China North East Petroleum Holdings Ltd., a leading independent oil producing and oilfield services company in Northern China, announced that it will restate its financial statements for 2008 and 2009 due to certain non-cash accounting errors. The errors include the incorrect classification of warrants as equity instruments, improper interest expense
Petroleum industry
Oil players in the Philippines, including major firms like Shell, Petron, and Chevron, as well as small firms like Phoenix Petroleum, Seaoil Philippines, and Flying V, have increased prices of their petroleum products following adjustments in international prices. The price hikes range from P1 (US$0.02) per liter for
Petroleum industry
Crude oil prices took a downturn on Thursday, settling 66 cents lower at $80.21 a barrel on the New York Mercantile Exchange, as concerns over high U.S. unemployment and a strengthening dollar weighed on the market. The rally in oil prices, which had risen nearly 15% in the
