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Oil prices drop below US$77 on economic doubt

Business | Energy
2009-11-21

OIL prices fell below US$77 a barrel yesterday on a stronger dollar and amid concern about the strength of the global economic recovery. Benchmark crude gave up 74 cents to settle at US$76.72 a barrel on the last...

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CNPC and Sudan to cooperate on refining

Business | Energy
2009-11-21

CHINA'S largest oil and gas company said it has signed a memorandum of understanding with Sudan to strengthen cooperation in oil refining. China National Petroleum Corp, the parent of PetroChina Co, sealed the...

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CNPC to expand oil refinery in Sudan

Business | Energy
2009-11-20

CHINA'S largest oil and gas company said today it had signed agreements with Sudan to strengthen cooperation in oil refining. China National Petroleum Corp, the parent of PetroChina Co, has signed a memorandum...

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Crude prices follow world markets down

Business | Energy
2009-11-20

A GLOBAL sell-off on equity markets dragged down crude prices by nearly 3 percent yesterday, the first decline this week. The price for a barrel of crude dropped by more than US$1 immediately when U.S. markets...

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Electricity bills to jump for Chinese industries

Business | Energy
2009-11-20

CHINA yesterday announced a 5.7 percent increase in electricity prices for businesses and industries and said it will adjust residential tariffs early next year through a new pricing mechanism to promote energy savings....

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CIC stake buy shows focused investment

Business | Energy
2009-11-20

CHINA Investment Corp, the country's sovereign wealth fund, will buy a 20-percent stake in the country's biggest producer of polysilicon for HK$5.5 billion (US$710 million) as it seeks to boost investment in the...

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Pipeline boost for Turkmenistan

Business | Energy
2009-11-20

ENERGY-RICH Turkmenistan could become a top supplier to fill a Western-backed natural gas pipeline aimed at reducing Europe's dependency on Russian gas, a top executive on the project said yesterday. The planned...

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Oil settles higher on weak dollar

Business | Energy
2009-11-19

OIL prices increased for the third day in a row as the dollar weakened and auto club AAA reported that more drivers are expected on America's highways next week. Benchmark crude for December delivery added 44...

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PetroChina in talks for LPG pact

Business | Energy
2009-11-19

PIPED-GAS supplier China Gas Holdings said yesterday that PetroChina is in talks to invest in a China Gas unit, which will distribute liquefied petroleum gas for Asia's top oil producer. China Gas Chief Financial...

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Oil up again, settles above US$79

Business | Energy
2009-11-18

OIL prices pushed higher for a second straight day yesterday even though the dollar strengthened and fresh economic data gave mixed signals on whether demand for oil will increase. Benchmark crude for December...

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Buffett increases Exxon stake in closely watched stock filing

Business | Energy
2009-11-18

BILLIONAIRE Warren Buffett's company bought an almost US$60 million stake in Exxon Mobil Corp, and cut its holdings in oil rival ConocoPhillips during the third quarter. Berkshire Hathaway Inc also significantly...

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Oil rises on weak dollar, rising stock markets

Business | Energy
2009-11-17

AFTER hitting their lowest level in a month, oil prices bounced back and settled near US$79 yesterday on the back of a weaker dollar and rising global stock markets. Benchmark crude for December delivery rose US$2.55...

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EU and Russia agree to 'early warning' setup on energy cuts

Business | Energy
2009-11-17

THE European Union and Russia yesterday agreed to an "early warning" mechanism to shield Europe from potential energy supply cuts and protect consumers in the event of a repeat of last year's Russia-Ukraine gas dispute. ...

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Oil dips to lowest level since October

Business | Energy
2009-11-14

OIL slid yesterday to its lowest price in a month as investors started to pay more attention to a yearlong slump in American energy demand. For most of the year, oil prices surged as investors pumped money into...

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China's power use surges 16%

Business | Energy
2009-11-14

CHINA'S National Energy Administration announced yesterday that the country's power consumption in October rose 15.87 percent annually to 313.42 billion kilowatt-hours, up for the 5th consecutive month since June. ...