POSCO, the world’s third largest steel maker, said yesterday it has developed a new non-nickel stainless steel product, which is 50% cheaper than the popular stainless steel with nickel.
Facing record high nickel prices, POSCO has been considering trimming nickel consumption and switching to metal with zero-nickel content. Global nickel prices have soared 50% so [...]
Australian miner Consolidated Minerals Limited downgraded its full year nickel forecast but said manganese and chromite production was in line with full year guidance.
The company said it has revised its full year nickel production target down to 4,000 tonnes from a previously reported 4,600-5,000 tonnes as a result of variable ore grades and a delay [...]
Posco, the world’s fourth-largest steel maker, will raise output of a nickel-free stainless steel fivefold next year as the price of nickel has hit a record.
Posco plans to sell 10,000 tonnes a month of the steel, which it introduced this month, from 2,000 this year, the Pohang-based firm said yesterday. The steel, which uses chromium [...]
Looking to focus on its oil and gas operations, Rolland Energy Inc. is to sell its Technology Division Assets for $1.4 million cash to a private Canadian corporation (the “Purchaser”). In addition, the Purchaser is to assume and takeover all the existing client, supplier and employment contracts of the Technology Division, including any obligations associated [...]
British Gas lowered its residential electricity and gas prices on Thursday in the latest salvo of a price war.
British Gas parent, utility Centrica, said the business was cutting electricity prices by 6 percent and gas prices by 3 percent. Coupled with cuts earlier this year this would reduce the average annual dual fuel bill by [...]
Energy industry executive Paul Prager and Natural Gas Partners (”NGP”), the leading investment franchise in the energy industry, today announced that they have entered into an agreement to acquire the domestic independent power production and power development business units of MDU Resources Group, Inc. in a transaction valued at $636 million. The business being [...]
The production of oil, gas and coal increased in the first quarter in Russia, whilst electricity production fell back, the ministry for energy and natural resources said.
The production of oil and distilled gas increased by 4.2 pct to 121.14 mln tonnes in the first quarter.
The main producers are Lukoil, Rosneft, TNK-BP, Surgutneftegas and Gazprom Neft, [...]
Bataan Petroleum Terminal Inc., a petroleum storage joint venture of Mawab Resources Inc. and Andan Enterprises Inc., said it had received tax incentives from the Board of Investments that would help bring down its costs in importing petroleum products.
The incentives include a five-year income tax holiday and duty-free importation of capital goods.
The company’s terminal in [...]
Petroleum Geo-Services ASA will as previously announced release its 2007 first quarter financial results on Thursday, May 10, 2007 at approximately 8:00 am Central European Time (CET).
A presentation has been scheduled the same day at 9:00 am (CET) at PGS’ Headquarters at Lysaker, Norway. A webcast and conference call have been scheduled the [...]
RAK Petroleum PCL, the oil & gas company registered in the Ras Al Khaimah Free Trade Zone today outlined the major steps the company has taken to become a global Oil & Gas player at the Ordinary General Meeting (OGM) that took place in the presence of the company’s Vice Chairman, Board of Directors, senior [...]
