Industry - Oil latest news

COLOMBO * Cairn India, a unit of British exploration firm Cairn energy Plc, plans to invest $100m to explore oil and natural gas deposits off Sri Lanka's coast, officials said yesterday.

Singapore (Platts) -- 9Jul2008 -- Germany's steel producer Kloeckner & Co. has concluded the sale of its Canadian subsidiary Namasco to Samuel, Son & Co. on Tuesday, the company said Wednesday. The sale has been approved by Canadian antitrust...

Hong Kong (Platts) -- 9Jul2008 -- China's domestic non-Chalco alumina prices remained soft quoting within a wide range of Yuan 3,150-3,400 ($459-495)/mt as more domestic availability in China continued to put pressure on prices, local...

London (Platts) -- 9Jul2008 -- Buffalo Gold is extending its concentrate sales agreement with Switzerland's MRI Trading to include all concentrates for the life of the Furtei mine in Sardinia, the Canadian company said Wednesday. ...

Oil prices, which hit record heights close to 147 dollars a barrel just last week, plunged again on Tuesday as resurgent worries about an economic slowdown stoked fears about future energy demand. New York's main oil futures contract, light sweet crude for August delivery, tumbled by $5.33 to close at $136.04 a barrel.

MOSCOW : The fate of the second biggest foreign investment in Russia hangs in the balance amid signs of a shifting mood in the Kremlin which may have wrong-footed investors and one of the world's biggest oil ...

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PetroQuest energy, Inc. of Lafayette said this morning that production from its Gulf Coast Basin properties during the second quarter of this year was less than expected, in part because of delays on several ...

Crude oil rose today, Wednesday, after Iran test-fired a long-range missile capable of reaching Israel, reported Bloomberg. The Iranian exercise heightened concerns of an attack by Israel, which was said last month to have rehearsed an air-strike on Iran. Crude oil for August delivery rose as much as $2.24, or 1.7 percent, to $138.28 a barrel in electronic trading on the New York Mercantile Exchange. [AMEInfo.com]

Dolphin energy said work is about to begin to fence key sections of its Al Ain to Fujairah Gas Pipeline in the UAE. The contract for $19.1m has been awarded to Al Husam General Contracting Establishment of Abu Dhabi, who will erect fencing along more than 100 kilometres of the 184 kilometre pipeline. This programme has been designed to improve security and to ensure public safety. [AMEInfo.com]