Ameron Reports Solid Earnings Despite Difficult Market Conditions

Ameron International Corporation reported net income of $15.0 million, or $1.63 per diluted share, in the third quarter ended August 31, 2008, compared to $21.1 million, or $2.32 per diluted share, in the third quarter ended August 26, 2007. Sales in the third quarter of 2008 totaled $170.1 million, compared to sales of $165.0 million in the third quarter of 2007. Net income in the third quarter of... 

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Nexant Expands Global Gas Sector Services

Nexant announced today that three gas industry experts—Mike Fulwood, Brian Little, and John Conway—have joined the company’s global gas practice. The three are former principals and founders of Energy Markets Partners LLP, a U.K.-based energy consultancy specializing in natural gas markets. Additionally, Nexant has also acquired a unique proprietary natural gas model that was developed by Energy... 

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Energy Dept. and IEA Lower Oil Demand Outlook

The Energy Department and the Paris-based International Energy Agency both lowered their global oil consumption forecasts for this year amid surging prices, but said demand for oil and petroleum products is accelerating in parts of the developing world. In its monthly short-term Energy outlook, the Energy Department’s Energy Information Administration said oil consumption is falling more than... 

Uranium exploration firms flock to Niger desert

Niger has granted a wave of permits to British, Canadian and Indian mining firms allowing them to explore for uranium in its desert north, the West African country’s government said on Saturday. A total of 23 permits were granted to three Canadian firms, three British firms and an Indian company, enabling them to explore in the former French colony’s Arlit and Tchirozerine regions, vast... 

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Coal Surge Seen by Mobius as China’s Imports

Coal is poised to rebound from a two-year slump as China buys more than it exports for the first time in history. Power use in China, the world’s biggest coal producer, is rising 13 percent annually, and utilities are building plants at a record pace. The nation gets 78 percent of its electricity from coal, spurring imports from Australia, Indonesia and Vietnam. “The coal sector in China... 

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Crude oil prices drop below $58 a barrel

Crude oil prices dipped Friday on forecasts for warmer weather in the U.S. northeast, the world’s largest heating oil market. The market also appeared to be reacting to news that OPEC output had dropped but was still above agreed cutbacks. Light, sweet crude for March delivery dropped 19 cents to $57.80 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange. The... 

FTSE nudges down as mining stocks weigh

The FTSE 100 index edged lower by mid-session on Friday after hitting a new six-year closing high in the previous session, as mining and oil stocks were weighed down by weaker commodity prices. Oil stocks led the FTSE 100 losing sector with crude prices easing below $58 a barrel as some investors focussed on forecasts for milder weather in the world’s top energy consumer, the United States,... 

GE paying $1.9 billion for a drilling supplier

General Electric agreed Monday to buy a drilling equipment maker, Vetco Gray, for $1.9 billion as dwindling oil and gas reserves prompt energy companies to increase their investment in opening new fields. GE will gain 5,000 employees in more than 30 countries by acquiring Vetco from 3i Group, JPMorgan Partners and Candover Investments. The acquisition will also increase sales at the GE oil and gas... 

Oil prices fall to $55 a barrel

Light, sweet crude for February delivery dropped 77 cents to $55.32 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. February Brent crude at London’s ICE Futures exchange fell 67 cents to $54.95 a barrel. The Nymex contract had fallen 22 cents to settle at $56.09 a barrel Monday on record high January winter temperatures in the U.S. Northeast. The volatile... 

Gold May Rise as Investors Seek Alternative to Dollar

Gold may climb for the second-straight week as investors avoid dollar-denominated assets and purchase the precious metal. Thirteen of 34 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on Dec. 21 and Dec. 22 advised buying gold, which rose 0.5 percent last week in New York to $622.30 an ounce, the first gain in three weeks. Nine respondents said to sell the metal, and 12...