Oil futures rose Thursday after the government reported larger-than-expected declines in crude and heating oil inventories.
Light, sweet crude for February delivery rose $1 to $96.97 a barrel on the New York Mercantile Exchange.
Earlier, oil prices rose after the assassination of Pakistani opposition leader Benazir Bhutto raised concerns about stability in the Middle East.
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Opponents of a proposed uranium mine in Weld County say more than 5,700 people have signed a petition against the project.
Powertech Uranium Corp., based in Vancouver, British Columbia, has proposed a $20 million uranium mine on 5,760 acres of farmland. The company is working to obtain permits amid rising uranium prices.
“Uranium mines have been stopped before,” said Lilias Jones Jarding, a member ofColoradanss Against Resource Destruction, which circulated the petition. Jarding said northern Colorado and the country should focus on building its renewable-energy industry instead.
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Australian shares fell 3.5 percent to a three-month closing low on Monday as property trusts slumped on refinancing troubles at Centro Properties Group
Mining companies fell on concerns about commodity prices after a surge in U.S. inflation made it less likely the Federal Reserve would cut interest rates and stimulate the economy.
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Russia said Monday it has begun fuel deliveries to an atomic power station in Iran, which is at the center of international concerns that Tehran’s may be developing nuclear weapons.
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Russia says its fuel can only be used at and for the Bushehr plant.
Atomstroiexport, Russia’s nuclear power equipment and service export monopoly, completed the first stage of deliveries Sunday, Russian nuclear officials said.
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Rio Tinto Ltd/Plc said that the company is planning to invest $793 million to extend the Kestrel coal mine in Australia, as it looks to internal growth to fight off an approach from its rival BHP Billiton, Reuters reported.
According to the statement, the total cost of the work at the Kestrel mine in the coal-rich Bowen Basin region of Queensland state, aimed at increasing productivity when existing sections of the mine start showing signs of depletion in about four years, was $991 million.
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Mr. Parson, an American geologist who explored the Afar Region between 1967-1969, discovered a huge amount of potash mineral in the Dallol Depression, northern part of the Afar Regional State. The Dallol Depression, the shallowest and hotest place in the world, is 100 meters below sea level.
Potash mineral is used as fertilizer. The potash deposit found in the Dallol Depression in Musely and Crescent localities near the Ethio-Eritrean border is estimated at 160 million metric tonnes. But the proven reserve is 130 million metric tonnes. Though the potash deposit was discovered 37 years ago, it has not been utilized. Read more » »
Oil India has filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of up to 2,64,49,982 equity shares of Rs 10 each for cash at a price to be decided through 100% book-building.
The issue comprises a net issue to the public of up to 2,40,45,438 equity shares and a reservation of up to 24,04,544 equity shares for eligible employees.
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Total announces the signature of a Memorandum of Understanding between Total E&P Indonesia and the Indonesian Ministry of Energy and Mineral Resources, on the sidelines of the UN Climate Change Conference.
Under this agreement the Indonesia’s Agency of Research and Development for Energy and Mineral Resources will be allowed to access to important data from Total’s pilot project which is being implemented near Lacq in the South West of France. This project, one of the first in the world to include the whole chain from combustion to CO2 geological storage, is primarily intended to prove the technical feasibility of an integrated carbon capture and storage scheme. It should enable Total to contribute to the fight against global warming, and provide an efficient solution to help limiting the footprint of Total’s activities in Exploration and Production, Refining and Chemicals. Read more » »
Rio Tinto Ltd/Plc said it would spend US$793 million as its share of the cost to extend the Kestrel coal mine in Australia, as it looks to internal growth to fight off an unwanted approach from rival BHP Billiton.
The total cost of the work at the Kestrel mine in the coal-rich Bowen Basin region of Queensland state, aimed at increasing productivity when existing sections of the mine start showing signs of depletion in about four years, was $991 million, Rio said on Monday.
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Compton Petroleum Corporation will be announcing its plans for 2008, including budgeted expenditures, drilling programs and projected production targets for the year, in early January 2008.
On December 14, 2007, a significant shareholder representing 19.8% of the shares outstanding, made a regulatory filing in the United States which included, among other topics, a statement that in its view Compton’s common shares are trading at a significant discount to the shareholder’s perception of the Company’s net asset value, and a request of Compton’s Board of Directors to consider strategic alternatives to bridge this gap. The Board will, on behalf of all shareholders, fully consider this filing. Read more » »