China’s second-biggest coal group by revenue, China Coal Energy Co., is set to raise up to US$1.7 billion (HK$13.3 billion) in a Hong Kong IPO after setting an indicative price range of HK$3.20 to HK$4.05 a share, a person familiar with the deal said on Wednesday.
China Coal, which kicked off its formal IPO marketing [...]

Global Carriers Bhd has purchased two new 7,000 deadweight tonnage (DWT) double hull clean petroleum product (CPP) tanker vessels from China’s Ningbo Dongfang Shipyard.
Chairman Datuk Azlan Hashim said the vessels, priced at US$9.98mil each, were expected to be delivered in May and August 2008 respectively.
“The new double hull CPP tankers will be [...]

Over the past 18 months, Triangle Petroleum Corporation has progressed from a raw startup company to a thriving exploration company that has drilling programs planned in four core project areas. Two of these projects are in shale gas areas (Barnett in Texas and Fayetteville in Arkansas) which we believe will provide us with a [...]

Qatar Petroleum (QP) today announced the signing of an amended and restated Joint Venture Agreement (JVA) which will add four new shareholders to the Laffan Refinery Company Limited.
The new shareholders are Idemitsu Kosan Co., Ltd (’Idemitsu’), Cosmo Oil Co., Ltd (’Cosmo’), Mitsui & Co., Ltd (’Mitsui’) and Marubeni Corporation (’Marubeni’), all of Japan. Japan is [...]

Addax Petroleum Corporation announces that it has completed the commissioning of a new production and export system from its Maghena property onshore Gabon. This commissioning of the new system provides the capacity to alleviate the constraints which had been restricting the export capacity from the Corporation’s Tsiengui and Obangue fields to just over 5,000 barrels [...]

Royal Petroleum Corp. announced that the company has completed a transaction acquiring oil leases in Hildago County, New Mexico. Currently there have been 28 petroleum-exploration wells drilled, including a 14,585 foot Humble Oil test along the Alamo-Hueco anticline.
The acquisition is in close proximity to one of the only major pipelines in the area making [...]

Texalta Petroleum reports that Exploration Permits No’s 103 and 104 covering 5.5 million acres in the Georgina Basin, Northern Territory, Australia, have been granted effective November 21, 2006 to Texalta 50% and its Australian partners 50%. Both permits are for a period of 5 years from date of grant and entail a work program comprising [...]

The Ministry of Mines and Energy said it is exerting various efforts to solve rising living cost caused due to petroleum price hike through developing national energy resources.
The ministry said agreements are expected to be reached with Petronas International Company for the development of the Hilala and Kalub natural gas fields in Somali State.
During a [...]

The government will not allocate any funding in the 2007 national budget for the Sidoarjo mud-volcano catastrophe in East Java, despite it having being declared a national disaster, a senior official from the Finance Ministry said Friday in Jakarta.
Referring to a presidential decree issued in connection with the disaster, the ministry’s secretary-general, Mulia P. Nasution, [...]

Rescuers continued to search for up to a dozen missing people at the Sidoarjo mudflow disaster Thursday, a day after a gas pipeline exploded, killing at least seven people and shooting flames hundreds of meters into the air.
The powerful blast occurred at 8:30 p.m. Wednesday after an embankment built to contain the hot mud [...]