As the most influential company in Brazil, which obviously the biggest in the country since it is state owed company. The company is called Petrloeo Brasileiro or well-known as Petrobras. Currently the union is to vote on Petrobras proposal. Striking platform workers will vote Friday whether to accept the latest proposal from Brazilian state-run energy [...]
Oil prices rose to an intraday trading record above $112 a barrel Tuesday after the U.S. dollar fell further and crude supplies to the U.S. and elsewhere were disrupted.
The main driver of crude’s rally was a decline in the greenback relative to the euro on Monday, analysts said. Crude oil’s recent run above $100 a [...]
The biggest German power company, EON, plans to sell its high-voltage network in anticipation of new European Union rules, press reports said on Thursday.
Plans to split off distribution networks worth more than one billion euros (1.5 billion dollars) were “well advanced” and EON chief executive Wulf Bernotat had already informed German Chancellor Angela Merkel, the [...]
Abu Dhabi National Oil Company (ADNOC), the energy giant of the United Arab Emirates (UAE), signed on Sunday a memorandum of understanding (MoU) with a Japanese bank to set up a comprehensive partnership in the oil and gas sector.
The document between ADNOC and the Japan Bank for International Cooperation (JBIC) was signed in the presence [...]
Carrying signs with slogans of “Stop the Coal Rush” and “Shame on Texas,” about 1,000 people rallied at the state Capitol to persuade lawmakers to abandon a plan to build up to 18 new coal-fired power plants.
Environmentalists fear the new plants will pump millions of tons of pollutants into the air every year.
“Coal plants seem [...]
Energy giant BP has said that net profits dipped in 2006, reflecting a decline in production and refining margins, despite record peaks for crude oil prices in the middle of the year.
Fourth-quarter profits meanwhile slid following recent oil price losses, combined with higher safety costs following the deadly Texas City refinery blast in 2005.
BP also [...]
That’s what environmental protesters dressed in business suits and stovepipe hats delivered to the Wall Street investment bank on Tuesday.
“Billionaires for Coal” and members of the nonprofit Rainforest Action Network staged the stunt to protest the bank’s role in financing Dallas-based utility company TXU’s plan to build 11 new coal power plants across Texas in [...]
State-controlled energy giants OAO Gazprom and OAO Rosneft will divide up Russia’s oil and gas-rich seabed evenly, the financial newspaper Vedomosti reported Monday, a step that would leave foreign oil companies with a minority role at most.
While the move has not been officially backed by President Vladimir Putin, the paper said, it would be in [...]
Chevron Corp. will spend $19.6 billion in 2007 drilling new oil and natural gas wells, building offshore platforms and upgrading gasoline refineries — a 22.5 percent increase over the company’s capital expenses this year.
The San Ramon energy giant reported Thursday that it will use about 75 percent of the money to boost production of oil [...]
Austria’s OMV Gas, which entered Turkey’s energy market by purchasing 34 percent of Petrol Ofisi (PO) for $1.05 billion, is also interested in the country’s natural gas import.
Werner Auli, the company’s executive board director, said they started preparations for such an investment after the market had been liberalized.
While the company remains undecided about what [...]
