India and China Refuse to Cut Iran Oil Imports

2012-01-31 - India and China refuse to bow under E.U. pressure to cut back on Iran oil imports and pressurize Tehran to abandon its nuclear program. It is not feasible for India to drastically cut back on Iran oil imports as the MidEast country provides an important backbone support to an emerging nation like India, said Pranab Mukherjee to reporters on Sunday in Chicago. India along with China account for 34 percent of Iran’s oil exports which is marginally higher than European imports. Although, Iran is pleased with India and China’s decision, it is a matter of time how these nations will actually pay for the imports without conflicting with the sanctions.

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European Stocks Rise on Budget Pact

2012-01-31 - European stocks rose, heading for their best start to a year since 1998, as most countries in the region agreed to tighter budget controls. U.S. index futures and Asian shares also advanced. BP Plc and Royal Dutch Shell Plc tracked gains in crude prices. ARM Holdings Plc (ARM) jumped 4.8 percent after fourth-quarter revenue topped estimates. European Aeronautic Defense & Space Co. gained 1 percent after UBS AG advised buying the shares.

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Vietnam Stocks: PetroVietnam Drilling, Phat Dat, Vegetable Oil

2012-01-31 - Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close. The VN Index (VNINDEX), the benchmark measure of the Ho Chi Minh City Stock Exchange, gained 0.8 percent to 387.97, the highest close since Dec. 6. The gauge rose 10 percent this month, the best January performance since 2007. PetroVietnam Drilling and Well Services Joint-Stock Co., (PVD VN), which offers technical services to the oil and natural gas industry, climbed 4.1 percent to 38,000 dong, its highest close since Oct. 31. Unconsolidated profit rose 26 percent to 1 trillion dong ($48 million) in 2011, according to a statement on its website. Phat Dat Real Estate Development Corp. (PDR) , a real- estate development and investment company, fell 3 percent to 16,000 dong. The company’s fourth-quarter profit slumped 98 percent to 3.1 billion dong, according to an exchange filing.

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Asia Stocks, Oil Rise on Greek Debt Talks

2012-01-31 - Stocks (MXWD) climbed around the world, heading for the best start to a year since 1994, the euro strengthened and commodities gained after most countries in Europe agreed to tighter budget controls and Greece made progress on debt talks.

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Electric plants’ shift to natural gas fuels price worry

2012-01-30 - PITTSBURGH — The huge, belching smokestacks of electric power plants have long symbolized air pollution woes. But a shift is under way: More and more electric plants around the nation are being fueled by natural gas, which is far cleaner than coal, the traditional fuel. The most optimistic projections describe an abundant domestic energy source that will create enormous numbers of jobs and lead to cleaner skies. Nationwide, the electricity generated by gas-fired plants has risen by more than 50 percent over the last decade, while coal-fired generation has declined slightly. The gas plants generated about 600 billion kilowatt hours of electricity in 2000 and 981 billion hours in 2010, according to the U.S. Energy Information Agency. During the same period, coal generation declined from 1,966 billion hours to 1,850 billion hours, while hydroelectric and nuclear generation stayed about the same. The figures include electricity use by consumers and industry.

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Peace Pipeline May Finally Have its Day

2012-01-30 - ndian and Pakistani officials this week are debating issues related to a natural gas pipeline planned from Turkmenistan. Pakistan's energy minister left Monday for India to hold talks on the pipeline, which is the favorite of Washington. But Pakistan is running out of options to address energy shortages and explorers working on natural gas in Turkmenistan said the market wasn't ripe yet for major energy developments. Iran, meanwhile, says its section of a gas pipeline from the South Pars gas field is ready to go, and with Islamabad growing increasingly frustrated with Washington, it would be no surprise if an unsteady government in Pakistan decides to hop in bed with Washington's chief adversary, at least on energy issues. Pakistani Energy Minister Asim Hussain left for New Delhi this week in an effort to settle issues related to transit fees for the Turkmenistan-Afghanistan-Pakistan-India natural gas pipeline. Various statements out of Islamabad, however, suggest the government isn’t sure if TAPI or the long-planned and dubiously named Peace Pipeline from Iran is the best option to address their energy concerns. Islamabad said liquefied natural gas is too expensive right now and security concerns in Afghanistan make TAPI a bit of a risk. Though New Delhi can't seem to make up its mind on the pipeline from Iran, the Pakistani government said it felt that project might be worth exploring.

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2nd Annual Petrochemicals Technology Conference to take place in Doha

2011-08-01 - Fleming Gulf is delighted to announce its 2nd Annual Global Petrochemicals Technology Summit, a niche and industry specific conference designed to bring together industry experts and thought leaders to discuss the latest trends and technological innovations in the petrochemicals industry. 2nd Annual Petrochemicals Technology Conference to take place in Doha Fleming Gulf Conference, a leading business intelligence and event services company, is delighted to announce its 2nd Annual Global Petrochemicals Technology Conference – the sequel to our highly successful and well attended event – scheduled to take place from 18 – 20 October, 2011, in Doha, Qatar. “A new trend has recently emerged in the Middle East, with a shift from abundant low cost natural gas feedstock to the naphtha feedstock, which provides more value additions. This trend has come about as the result of a variety of factors, including the rapid depletion of natural gas reserves, increasing emphasis on alternative uses of natural gas and increasing demand for downstream products that can be obtained via naphtha but not by natural gas. As a result, more companies are opting for the naphtha route in petrochemical production.” – Business Wire.

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Oil leak from ConocoPhillips' China field cleaned up

2011-07-05 - BEIJING, July 1 (Reuters) - A small oil leak from the Penglai 19-3 oilfield off China's Bohai Sea, operated by U.S. firm ConocoPhillips , has been largely cleaned up, with production barely affected, Chinese partner CNOOC Ltd and industry sources said on Friday.

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