Sterlite Industries (India) Limited (“Sterlite”), a subsidiary of Vedanta Resources plc, the London-based FTSE 100 metal and mining group, and ASARCO LLC (“Asarco”), a Tucson based mining, smelting and refining company, announced today that they have signed a definitive agreement for the sale to Sterlite of substantially all the operating assets of Asarco for $2.6 [...]
Oil prices fell sharply, even though the Energy Department reported unexpected declines in crude oil supplies last week. A stronger dollar and concerns about gas demand also weighed on prices.
Light, sweet crude for July delivery fell $4.41 to settle at $126.62 a barrel on the New York Mercantile Exchange, its lowest settlement in two weeks [...]
Russia’s OAO Gazprom and OAO Lukoil say they discovered a sizable oil and gas field in the Caspian Sea — but just how big, they are not sure.
Dow Jones Newswires quotes an official as saying it could hold up to 730 million barrels of oil.
Gazprom and Lukoil signed a deal in 2003 to develop a [...]
Crude oil pipeline operator Enbridge Inc. plans to sell its minority stake in a Spanish petroleum products pipeline company for about $1.37 billion in cash.
The buyers of the 25 percent stake in Cia. Logistica de Hidrocarburos SA are subsidiaries of Deutsche Bank AG, the Public Sector Pension Investment Board, Stichting Pensioenfonds Zorg en Welzijn and [...]
Federal regulators are six months into a wide-ranging investigation of U.S. oil markets, with a focus on possible price manipulation.
The Commodity Futures Trading Commission said Thursday it started the probe in December and took the unusual step of publicizing it “because of today’s unprecedented market conditions.”
The commission said details of the investigation remain confidential, but [...]
Shares of oil refiners fell, as concern grew among analysts and investors that high gasoline pump prices are putting a big crimp in fuel demand.
In a note to investors, Lehman Brothers analyst Paul Cheng cited fresh data from the Department of Energy and the Federal Highway Administration as further evidence to support his bearish view [...]
Crude-oil inventories fell unexpectedly last week for the second straight period. But government data suggests it is probably not because demand has risen, and that helped push crude prices down.
For the week ended May 23, crude-oil inventories shrank by 8.8 million barrels, down 2.7 percent from the previous week, to 311.6 million barrels, the Energy [...]
Cadillac Mining Corporation announces that it has entered into an option agreement with the Estate of Frank Onucki to acquire 567 hectares of mineral claims comprising the Herd Dome copper property. Located in the Omineca Mining Division of west central British Columbia, the prospect is situated 70 kilometers southwest of Houston, BC in a region [...]
Indonesian state coal miner PT Bukit Asam Tbk expects its coal export prices to rise by at least 45 percent this year, in line with rising global prices and strong demand, a company official said on Thursday.
Bukit Asam — the smallest of Indonesia’s three listed coal miners — sold coal in the overseas market at [...]
Majescor Resources Inc. is pleased to provide supplementary data on its significant uranium drill intersection at its 100%-owned Lac Mantouchiche uranium prospect located on the Mistassini property, in the Otish Mountains of Quebec (uranium rights under option to Strateco Resources Inc.; 721 claims, 384 km2). Based on recently received additional core assays, the Lac Mantouchiche [...]
