Lakeside Steel reaches tentative agreement with Canadian Auto Workers

Lakeside Steel Inc. announced that it reached a tentative agreement with the Canadian Auto Workers, Local 523 (“CAW Local Union”) representing about 400 employees of Lakeside Steel Corporation (“Lakeside”), the wholly-owned subsidiary of Lakeside Steel, for a three year term ending October 31, 2011. The agreement is subject to approval by members of the CAW Local Union on November... 

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Chief Oil & Gas Welcomes Delivery of New Drilling Rig

Chief Oil & Gas and Union Drilling, Inc. unveiled the new AC QuickSilver drilling system in Lycoming County, Pennsylvania, the first-of-its-kind rig designed for horizontal natural gas drilling in the Marcellus Shale. “This is an exciting time for Chief Oil & Gas and the Commonwealth of Pennsylvania,” said William Buckler, Senior Vice President of Operations for Chief Oil &... 

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Arctic Oil & Gas Corp.: Government Officials Should Vote for Energy Prosperity, Not Energy Poverty

Arctic Oil & Gas Corp. (351 million shares issued), a petroleum exploration company, is pleased to announce that the Company and partners have proposed $2.50 gasoline, 30% discounted natural gas and hundreds of millions of dollars in royalties to Santa Barbara County from a proposed, (40% AOAG equity) Santa Barbara OCS-State petroleum lease development project, on known oil accumulations containing... 

Petrostar’s DHT2 to Be Tested by an Oil Sands Company

Petrostar Petroleum Corporation announce that it has entered into a short-term rental agreement with an oil sands company to test Petrostar’s Down Hole Tool (DHT2). The Down Hole Tool (DHT) is a system and method for generating underground heat, steam and pressure. Specifically, the present invention relates to an electrical steam generation system that enables efficient production of downhole... 

Acergy S.A. Announces Contract Award in the Norwegian Sea

Acergy S.A. announced today the award of a contract valued at approximately $60 million from BP Norge AS on behalf of the Skarv licensees. The contract is for the installation of ten dynamic flexible risers systems, two dynamic umbilicals and a Direct Electrical Heating dynamic cable. Installation is due to commence in the second half of 2010, using the newest addition to Acergy’s fleet, Skandi... 

Washington and National Oil Marketers Associations Decry Energy Speculators Pushing Oil Prices Up 5.4 Percent in a Day to $121.18 a Barrel

“Today’s 5.4 percent crude oil price increase to $121.18 a barrel despite decreased demand and increased supply is a clear sign that speculators continue to dominate the commodities markets hurting our national economy,” said Lea Wilson, executive director of the Washington Oil Marketers Association (WOMA). “There is absolutely no economic reason for prices to increase the way they did today,”... 

Oil sinks on stronger dollar to $115 a barrel

Oil prices dove to $115 a barrel on Friday, driven lower by a huge jump in the U.S. dollar, signs of moderating demand around the world and the burgeoning belief that commodities may have peaked. Shrugging off concerns about a sabotaged oil pipeline in Turkey, investors pulled their money out of commodities and put it back into stocks, giving crude oil a weekly loss of nearly $10 a barrel, and driving... 

Graham Corporation Appoints Alan Fortier to Board of Directors

Graham Corporation announced that the Board of Directors has appointed Alan Fortier, President of Fortier & Associates, Inc., as a Director for a term expiring at the 2009 Annual Meeting of Stockholders. Mr. Fortier founded Fortier & Associates, a strategy and profit improvement consulting firm, in 1988. His firm serves Fortune 100 multi-national companies and other global clients. Prior... 

Zenergy Power Completes Successful Operation of World’s First Commercial High-Temperature Superconductive (HTS) Induction Heater

Zenergy Power Inc., developer of commercial products based on high temperature superconductor (HTS) technology, announced the successful installation and implementation of the world’s first commercial full scale HTS induction heater for Weseralu GmbH & Co. KG (Weseralu), an aluminum profile extrusion company, at its manufacturing facility in Minden, Germany. The HTS induction heater is based... 

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Oil Price recorded biggest drop in a period of 17 years

Ben Bernake, Federal Reserve Chairman, stated that the U.S. economy is facing “significant” risks to growth, while the Organization of Petroleum Exporting Countries lowered its forecast for world oil-demand growth for 2008 and 2009. in apart chances John Kilduff, an analyst at futures brokerage MF Global, said “Signs of economic contraction and financial-market malaise are becoming...