Industry - Oil latest news

Petro-Canada announced Wednesday it has restarted a key piece of equipment that had been shut down in early August, resulting in fuel shortages at gas stations across British Columbia and Alberta.

New York (Platts) -- 29Aug2008 -- Taking a page out of AK Steel's playbook from earlier this week, US-based mini-mill steelmaker Nucor also advised customers Thursday that its order book would close Friday -- against the backdrop of a...

Singapore (Platts) -- 29Aug2008 -- Chinese export offers for hot-rolled coil and reinforcing bar continued declining this week amid the extreme lack of buying interest, market sources told Platts. As a result, Platts price assessments...

Mariner energy, Inc. announced today that Scott D. Josey, Chairman of the Board, Chief Executive Officer and president, will be presenting at Lehman Brothers' CEO Energy/Power Conference in New York on ...

HOUSTON, TX (MARKET WIRE) Frontera Resources Corporation (London Stock Exchange, AIM market - Symbol: FRR; OTCQX market, U.S.A. - Symbol: FRTE), an independent oil and gas exploration and production company, today announced an update of operations at its Shallow Fields Production Unit, Block 12, Georgia.

Bucyrus (August 22, 2008) - Bucyrus America, Inc., a subsidiary of Bucyrus International, Inc., and its 104 employee members of United Steel Workers of America, Local #8-00002-02 have reached agreement on a new three-year contract. The new contract, goes into effect August 24, 2008 and is valid until August 22, 2011. The Pulaski facility manufactures heavy equipment for the Room & Pillar mining industry and employs approximately 250 total employees.

Diesel Progress (August 28, 2008) - Joy Global Inc. announced that China Mining Machinery, its wholly-owned subsidiary, has entered into a definitive agreement to acquire 100% of the outstanding shares of Wuxi Shengda, a Chinese manufacturer of longwall shearing machines for $22.0 million, excluding closing costs.

Oil exploration group Cairn energy is close to securing the credit lines that will ensure sufficient funding is in place to start production at its massive Rajasthan field in northern India next year.

China National Offshore Oil Corp. , the nation's third largest oil producer, will spend 6.6 billion dollars to nearly double the capacity of a major refinery project, state media said Friday.

New Zealand Oil & Gas has posted a surge in full year net profit to $97.2 million on the back of production from the Tui oilfields off the Taranaki coast. "This outstanding result was built on a combination of high oil prices and...