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China Oil Company, Sinopec Corp. Agreed To Build Oil and Gas Rigs in Kuwait


China’s largest oil refiner, Sinopec Corp, has agreed to build five oil and gas rigs in Kuwait after signing a US$350 million contract with the Kuwait Oil Company (KOC).

OPEC to hold fire over cuts to oil output: analysts


The Organization of Petroleum Exporting Countries, satisfied with the current price of crude oil, is on Thursday expected to maintain its oil output quota, analysts said.
With the price of oil trading at around 60 dollars per barrel in London and New York,
OPEC will keep its official production quota at 25.8 million barrels per day at [...]

Oil Program Ad Labeled `Propaganda’ From Chavez


In a TV commercial, former Rep. Joseph Kennedy stands aboard an oil tanker moving across the Boston skyline and promises that millions of gallons of discounted heating oil are on their way to poor, shivering families, courtesy of “our good friends in Venezuela.”
What he doesn’t mention is that those “good friends” include Venezuelan President Hugo [...]

Kennedy says only Venezuela has given oil to poor since 1979


In a TV commercial, former U.S. Rep. Joseph P. Kennedy 2nd stands aboard an oil tanker moving across the Boston skyline and promises that millions of gallons of discounted heating oil are on their way to poor, shivering families, courtesy of “our good friends in Venezuela.”
What he doesn’t mention is that those “good friends” include [...]

Petro-Power and the Nuclear Renaissance


With global demand for energy constantly rising and supplies contracting (or at least failing to keep pace), the world is being ever more sharply divided into two classes of nations: the energy haves and have-nots, says Michael Klare.
Not “Islamo-fascism” but “Energo-fascism” — the heavily militarized global struggle over diminishing supplies of energy — will dominate [...]

China favoured consort for Africa’s fund-hungry miners


Resources companies operating in Africa have increasingly been eyeing Chinese investment with mixed feelings.
On one hand, they view the Chinese as useful partners because they offer vast markets for commodities, but on the other hand their emergence as investors in African resources presents unwelcome competition.
China’s economic growth rate of nearly 9,5% a year reflects a [...]