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National Oilwell Varco Announces Fourth Quarter and 2006 Earnings
National Oilwell Varco, Inc. today reported that for its fourth quarter ended December 31, 2006 it earned net income of $239.2 million, or $1.35 per fully diluted share, compared to third quarter ended September 30, 2006 net income of $176.6 million, or $1.00 per fully diluted share. Earnings per share more than doubled from the [...]
Read morePosco Mines May Win A Recommendation For Iron-Ore Mining
Posco, Asia’s third-biggest steelmaker, may win a recommendation for iron-ore mining rights for its planned $12 billion mill in India, as the Orissa state government sends its consent to the ministry this month. Although, Posco is not still completely out of trouble, but definitely it will create hurdles for setting up it’s mega project in [...]
Read moreImport prices tumble 1.2% on petroleum
A big drop in petroleum prices helped push down U.S. import prices by a bigger-than-expected 1.2 percent in January, a government report on Thursday showed.
The January decline in overall import prices, the biggest since October 2006, was driven by a 7.3 percent drop in petroleum prices, the Labor Department report showed.
Economists polled ahead of the [...]
Linn Energy Agreed to Acquire Antrim Natural Gas Properties in Michigan
Linn Energy LLC agreed to acquire natural gas properties in the Antrim shale of northern Michigan from HighMount Exploration & Production LLC for $330 million. Both companies are based in Houston.
Closing, subject to customary conditions, is expected by Apr. 30. The properties being acquired produce 30 MMcfd of gas equivalent and have proved reserves of [...]
Stocks eke out slim gain as oil prices spike higher
Wall Street ended a volatile session marginally higher Wednesday after stocks first surged on robust retail sales numbers but pared their gains as oil prices spiked.
The Energy Department reported crude inventories fell for a third straight week, which sent oil and gasoline prices sharply higher. Less supply means both oil and gas could cost more, [...]
