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Deleum shares up on bullish O&G sector
Oil support services provider Deleum Bhd, which made an impressive debut on Bursa Malaysia main board last Friday, continued on its winning streak yesterday, with its shares putting on RM1.22, or 29.2%, and closing at the day’s high of RM5.40.
Analysts said the growing demand in the oil and gas (O&G) sector and expectations that [...]
Oil from palms: scientists weigh the downside
Only a few years ago, oil from palm trees was viewed as an ideal biofuel: a cheap, renewable alternative to petroleum that would fight global warming. Energy companies began converting generators and production soared.
Now, it’s increasingly seen as an example of how well-meaning efforts to limit climate-changing carbon emissions may backfire.
Palm oil’s luster fades on biofuel scene
Only a few years ago, oil from palm trees was viewed as an ideal biofuel: a cheap, renewable alternative to petroleum that would fight global warming. Energy companies began converting generators and production soared.
Now, it’s increasingly seen as an example of how well-meaning efforts to limit climate-changing carbon emissions may backfire.
Deal Signed for Myanmar Oil Exploration
Two little-known foreign companies have signed a deal for offshore oil and gas exploration with the state-owned Myanmar Oil and Gas Enterprise, state-run media reported Sunday.
A report in the New Light of Myanmar newspaper identified the companies as “Rimbunan Petrogas Ltd established in British Virgins Island and UNOG Pte Ltd formed in Singapore” and said [...]
Capricorn Energy New Success Story?
Scottish oil junior Cairn Energy [LSE:CNE], holding vast producing oil acreage in South-East Asia (India, Bangladesh, Pakistan and Nepal), has again made headlines lately. Based on its statements that it plans to return $944 million to shareholders after floating its Indian business, investors have renewed their interest.
Cairn has decided to split up its former company [...]
Oil & gas to fuel UMW earnings
UMW Holdings Bhd expects the oil and gas sector, into which it began a serious push five years ago, to contribute a quarter to its bottom line for 2007 compared with 20% last year.
UMW managing director Datuk Dr Abdul Halim Harun said the greater contribution would come from the pipes plants in China and Malaysia [...]
Focus Will Be More At Home, Says Newly Listed Kencana Petroleum
Kencana Petroleum will concentrate on strengthening its local presence before pursuing overseas projects, its executive chairman Datuk Mokhzani Mahathir said Friday.
Malaysia’s oil and gas industry is still vibrant and would remain so for the next five to ten years, said the head of the company which provides integrated solutions for Engineering, Procurement, Construction, Installation and [...]
Venezuela Strengthens Its Relationships in the Middle East
Venezuela has long cultivated ties with Middle Eastern governments, finding common ground in trying to keep oil prices high, but its recent engagement of Iran has become a defining element in its effort to build an alliance to curb American influence in developing countries.
In a visit late last month to Tehran by President Hugo Chávez [...]
