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Gold Mining Companies Eye Oppurtunity To Grab Venezuela Gold Reserves Potential
Venezuela is known for its biodiversity, petrochemicals, gold reserves and tourist potential. Even as the country sells world’s cheapest petro products due to heavy subsidies, there is not much heard about the gold treasure hidden in the country.
Future Mineral Exploration and Mine Industry in Russia During a Global Crisis
Russia auctioned its biggest mining company a decade ago when it was strapped for cash. It’s using the global credit crisis to regain control of OAO GMK Norilsk Nickel as economic turmoil forces U.S. and European governments to bail out their own corporations.
Copper Climbs on Signs of Increased Demand Mine Result in China
Copper rose for a second day in London on speculation that demand for the metal will strengthen in China, the world’s largest user. Lead jumped 10 percent.
China’s copper imports rose 29 percent in September, the country’s customs office said yesterday. Merrill Lynch & Co. forecasts China’s copper demand will increase 9 percent next year from [...]
Mining Environment Program for Ecological Clean, Oil spill spells catastrophe for Russian coast
Long stretches of Russia’s Black Sea coast face an ecological catastrophe, local authorities said on Monday, after a fierce storm broke up a tanker, disgorging hundreds of tons of oil on to the shore.
Three seamen were drowned. A search was under way for five others missing, though hopes of finding them alive were dwindling.
Spilt fuel [...]
Russia Energy Exploration on Track to meet long-term production targets
The International Energy Agency said on Tuesday it still believed Russia was not investing enough in new oil and gas fields, but Moscow insisted it was on track to meet its long-term production targets.
“It is obvious that greenfield investment conditions are worsening. There is too little focus on greenfield development as most of Russia’s projects [...]
Oil Exploration : ConocoPhillips writes off Venezuela
ConocoPhillips’ second-quarter income plummeted because of its previously-announced writeoff of the $4.5 billion value of three oil projects taken over last month by Venezuela’s government-run oil company, the Houston-based oil major said today.
The company posted earnings of $301 million, or 18 cents a share, compared to $5.2 billion, or $3.09 a share, in the second [...]
Global Competitors Clamor for Kazakhstan’s Oil
Kazakhstan is in the midst of an oil boom that has made it one of the fastest-growing economies in the world. The oil revenues are transforming what was once a remote backwater that served as a gulag for hundreds of thousands of Soviets deported by Joseph Stalin into an economic powerhouse in Central Asia. [...]
IEA Warns on Oil Demand, Delays, Urges OPEC to Act
There is the real prospect of a world oil supply deficit this year due to higher-than-forecast demand, rising project delays and a reluctance by the Organization of Petroleum Exporting Countries to ship more crude over the summer, the International Energy Agency warned Tuesday.
The energy security watchdog for the Organization for Economic Cooperation and Development also [...]
Russian expand influence in the oil and gas industry
A Siberian court Monday threw a lawsuit outside classified by the local subsidiary company of the PLC of BP above the quantity of gas which it produces, opening the manner so that the regulators draw the licence with the layer from giant gas of Kovykta of the company.
Analysts have called the case symptomatic of a [...]
