Sinopec, a subsidiary of the China Petroleum and Chemical Company yesterday blazed the trail in the Nigerian solid minerals sector when it emerged winner of the nation’s Bitumen Block2, unarguably the first bitumen deposit to be formally exploited in Nigeria many years after the mineral was discovered in the country. The Chinese mining firm offered […]
The U.S. dollar fell against other major currencies in European trading Thursday morning. Gold rose.
The euro was quoted at $1.2852, up from $1.2829 late Wednesday in New York.
Other dollar rates:
-117.06 Japanese yen, down from 117.13
-1.2253 Swiss francs, down from 1.2284
-1.1064 Canadian dollars, down from 1.1095
The British pound was quoted at $1.9074, up from $1.9035.
Unicorp Inc. has begun operations in preparation for the drilling of a prospect located in Greene County, Miss.
Drilling is expected to start within the next two weeks, and the well will be drilled to a depth of around 6,800 feet to test the Upper Tuscaloosa formation. Unicorp will be the designated operator of the project […]
Canadian gold miner Goldcorp Inc. has agreed to buy Reno, Nevada-based rival Glamis Gold Ltd. for about $8.6 billion in stock in a deal that will create one of the world’s largest gold producers.
The new company will have proven and probable reserves of about 41.1 million ounces of gold with focused operations in the Americas […]
Big Sky Energy Corporation announced that its subsidiary KoZhaN LLP has commenced drilling Well DLT-33 in its Dauletaly Block, located on the north shore of the Caspian Sea in western Kazakhstan.
The well will be drilled to an approximate depth of 800m to test the Upper Jurassic sand formation in the Dauletaly Block. This new structure […]
Interior Secretary Dirk Kempthorne received his first look Wednesday at BP Alaska’s pipeline corrosion that shut down some North Slope oil production, but said the problems should not prevent new drilling in some environmentally sensitive areas.
Kempthorne, on a three-day visit to Alaska’s oil fields, toured an oil processing facility operated by ConocoPhillips 60 miles west […]
A strike paralysed Bangladesh as a police officer was killed amid new violent protests over the shooting deaths of five demonstrators against a British firm’s plan to construct a coal mine.
Shops, schools and businesses in all major towns and cities were closed for the strike called by the main opposition to protest the Asia Energy […]
Now that both houses of Congress have passed bills opening up the U.S.’s outer continental shelf to drilling, oil and gas companies are celebrating, right?
Wrong.
The tough battle still lies ahead. And the whole tale starkly illustrates the challenges business faces navigating the political shoals of Washington.
WIDE GAP IN BILLS.
For starters, companies and industry groups lobbied […]
Japan’s top refiner Nippon Oil Corp. and steel maker Nippon Steel Corp. said on Thursday their Australian joint venture with Xstrata would invest about $255 million to develop a new coal mine at its Bulga mine. The new Blakefield Block will start producing coal in late 2009 and will eventually produce coal at a rate […]
The slow increase in domestic coal demand in the first half of this year has resulted in excessive coal supply and a drop in the coal price in some regions, the National Development and Reform Commission (NDRC), the country’s industry watchdog, said on Thursday.
According to a report released by the NDRC, China produced a […]