As previously announced, on July 3, 2008 USR Technology, Inc. entered into a letter of intent with the private French company Euroslot S.A.S. concerning the granting by Euroslot of a US$1,000,000 credit against the future supply of certain assets, called Snake Screen(TM), and an exclusive 20 year worldwide license, excluding France, Iran and Russia, to [...]

USR Technology, Inc., is pleased to announce that it has entered into a Letter of Intent, dated July 3, 2008, with Euroslot SA, a private French company which specializes in the production of metallic filtration separation media for the oil and gas drilling industry.
The letter of intent with Euroslot addresses two principal areas. The first [...]

Oil prices jumped past $145 a barrel for the first time, as traders added to their bets on the commodity ahead of the long holiday weekend.
There was little good news for Americans hitting the road for the July Fourth holiday, as gas prices set their own record near $4.10 a gallon.
Light, sweet crude for August [...]

OPEC President Chakib Khelil again said oil producers saw no need to raise supply and blamed record oil prices on factors outside the cartel’s control, such as U.S. pressure on Iran and the weak U.S. dollar.
Following talks with European Union nations, Khelil said oil states believe they are pumping enough oil to satisfy demand and [...]

Iraq invited bids from local and international companies for two new oil tankers and another for chemical products.
The country’s fleet of oil tankers was devastated by tit-for-tat shelling during the 1980-88 Iran-Iraq war and by attacks during the 1991 U.S.-led Gulf War.
Last year, Iraq signed a $65 million contract with China to buy three oil [...]

Iran is continuing to defy UN demands that it suspend uranium enrichment, the UN atomic watchdog said on Monday.
“Contrary to the decisions of the (UN) Security Council, Iran has not suspended its enrichment related activities,” the International Atomic Energy Agency wrote in its latest report on Tehran’s disputed nuclear drive.
In all, Iran was operating about [...]

Iran’s nuclear chief Ali Larijani has told the European Union there was no chance Tehran would suspend its programme of uranium enrichment, state television reported on Thursday.
He made the comments in a telephone conversation on Wednesday with the EU’s top diplomat, Javier Solana.
“The Islamic Republic of Iran is ready to negotiate only on non-diversion (of [...]

The Iranian Foreign Ministry has strongly denied the possible suspension of the uranium enrichment research, the Itar-Tass News Agency reported.
“The [uranium enrichment] moratorium is totally unacceptable, from our point of view,” Foreign Ministry Spokesman Mohammad Ali Hosseini said on Sunday, according to the Tass report.
“A moratorium, even the one for three months, does not meet [...]

Japanese firm Inpex will only take a 10 percent stake in a project to develop Iran’s largest onshore oil field and the main contract will go to an Iranian company, the oil minister has said.
The comments by Oil Minister Kazem Vaziri-Hameneh came after a swathe of conflicting reports over Inpex’s final stake in Azadegan oil [...]

The oil minister of Iran confirmed Sunday that Inpex Holdings had cut its stake in the Azadegan project to 10 percent from 75 percent after first saying Japan’s biggest oil explorer might be able to keep control of the field.
“The share of Inpex in the Azadegan contract has been decreased from 75 percent to 10 [...]