Petroleum industry
Chevron Global Marketing has introduced the sixth special edition Chevron Car, Promise, to raise awareness and funds for breast cancer research. All net proceeds from the sale of Promise will be donated to the Susan G. Komen Breast Cancer Foundation. Since 2001, Chevron has donated nearly $1.3 million to
Petroleum industry
Pertamina, Indonesia's state-owned oil and gas company, has announced a reduction in prices for non-subsidized fuel oils for industries effective October 2006. The price cuts, ranging from 4 to 15%, aim to ease the financial burden on industries amid declining international crude oil prices and a strengthening rupiah
Petroleum industry
Declines in the price of crude oil have led to lower canola crush margins, and could bring canola futures down as well, according to independent grain and oilseed analysts. Despite strong demand from buyers intending to crush canola for biodiesel, lower crude oil prices pose a risk to the canola
Petroleum industry
Shell has awarded a $1 million research project to the Chemical and Biomolecular Engineering Department of Ohio State University to develop a novel approach to membrane separation technology for producing hydrogen from fossil fuels. This research aims to separate CO2 at a lower cost, a crucial step for economical carbon
Petroleum industry
Garware Offshore Services Ltd, a leading player in the Indian offshore services sector, has taken a significant step towards expanding its fleet by ordering four new platform supply vessels (PSVs) from a Norway-based ship building yard. The vessels, worth Rs 4.30 billion (US$93.3 million), are expected to
Petroleum industry
Commercial operations for China's first direct oil import pipeline began at Alataw Pass, Northwest China's Xinjiang Uygur Autonomous Region, after crude oil from Kazakhstan flowed into a petroleum tank on July 12. The pipeline, built by China National Petroleum Corporation (CNPC) and Kazakh state energy company
Petroleum industry
Petrobras, Brazil's state-run oil firm, is poised to become a major player in the global ethanol market, with plans to export 320 million liters of the biofuel in 2006 and a staggering 3.5 billion liters by 2011. The company's ambitious export plans are driven by
Petroleum industry
With global oil prices soaring, Indonesia has joined other countries in the quest for alternative fuels, focusing on biodiesel derived from vegetable oils. The government aims to reduce reliance on fossil fuels, but faces challenges such as high production costs, market competition, and environmental concerns. Key Takeaways: * Indonesia, along with
Petroleum industry
As Hurricane Katrina barreled through the US Gulf of Mexico, the October crude oil future on the New York Mercantile Exchange (Nymex) surged to a record high of $70.80 per barrel in electronic trading, before retreating to close $1.07 higher at $67.20. While traders initially feared significant
Petroleum industry
Hurricane Katrina devastated the oil and natural gas production in the Gulf of Mexico, further tightening the strained energy markets and pushing prices to new highs. The storm, which made landfall on Monday, caused widespread damage and disruptions to oil and gas production facilities, with oil production reduced by 92%
Petroleum industry
The Hang Seng Index reached a new 4.5-year high on Friday, buoyed by a strong rally in Esprit Holdings and CNOOC. Apparel wholesaler Esprit touched an intraday high of $63 on a rising euro, with the counter ending the day 4.89% higher at a record $62.15. CNOOC
Petroleum industry
Iraq's State Oil Marketing Organization (Somo) has adjusted its pricing strategy for Basrah Light crude exports to remain competitive in the international market. In response to Saudi Arabia's recent price cuts, Somo has reduced term prices for US customers by $1 per barrel and for Asian
