Chinese giant to buy US oil assets: company
Oslo (AFP) Nov 4, 2009
Norwegian energy group Statoil said Wednesday it was selling some of its US offshore oil assets to China's state-owned CNOOC, marking the first step by a Chinese energy major into the US market. The sale, announced along with Statoil's quarterly results, involves a limited stake for the China National Offshore Oil Corporation (CNOOC) in four exploitation licences for deepwater blocks bought ... read more
China gets its first grip on Arab oil supplies
Baghdad (UPI) Nov 4, 2009
Baghdad's deal Tuesday with BP and the China National Petroleum Corp. to invest $15 billion in the giant Rumaila oil field to help rebuild Iraq's ramshackle oil industry gives energy-hungry China its first real grip on Middle Eastern oil. But the 20-year contract carries immense risk as another bout of sectarian savagery looms in Iraq. Still, China has demonstrated that it's ... more
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Brazil's Petrobras signs 10-bln-dlr Chinese loan accord
Rio De Janeiro (AFP) Nov 4, 2009
Brazil's state-run oil group Petrobras said Thursday it has signed a contract permitting the first payment from a 10-billion-dollar loan from China to help it finance upcoming investments. The credit, offered by the China Development Bank, will underwrite Petrobras' developments up to 2013. It is conditioned on Petrobras supplying oil to the Chinese refining company Sinopec over the next ... more
Australian oil spill recovery plan could take 7 years: company
Sydney (AFP) Nov 4, 2009
Monitoring the clean-up of a huge oil spill in pristine Australian waters could take as long as seven years, an official said Wednesday as environmentalists urged a wide-ranging inquiry into the disaster. As many as 28,000 barrels of oil have gushed into the Timor Sea off Western Australia's northern coast in the 10 weeks since the West Atlas oil rig began leaking, raising concerns of an ... more
New York attorney general files antitrust suit against Intel
New York (AFP) Nov 4, 2009
The attorney general of New York state filed an antitrust lawsuit against Intel Corp. on Wednesday alleging the US computer chip giant engaged in illegal practices to dominate the market. "Rather than compete fairly, Intel used bribery and coercion to maintain a stranglehold on the market," Attorney General Andrew Cuomo said in a statement. "Intel's actions not only unfairly restricted ... more
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French nuclear export drive tainted by safety fears
Paris (AFP) Nov 4, 2009
Safety fears and threats of winter power cuts have taken some of the shine off France's world-beating nuclear industry, the country's main source of power and a key plank in its foreign trade strategy. France generates more than three-quarters of its electricity through nuclear power, more than any other country by proportion, and President Nicolas Sarkozy has made exporting French know-how ... more
Toyota to build big research centre in China: report
Tokyo (AFP) Nov 5, 2009
Toyota Motor Corp. will spend hundreds of millions of dollars to build a research centre in China to develop vehicles for the fast growing market there, a newspaper said Thursday. The world's largest automaker will build a new centre with a full-scale test course near Shanghai, the Nikkei business daily said, adding construction was likely to begin as early as next year. Total investment ... more
EU parliamentary nod for free emissions permits
Brussels (AFP) Nov 4, 2009
The European Parliament's environment committee on Wednesday approved a list of 164 industrial sectors that will win free carbon emissions permits for the next five years if no global deal on climate change is negotiated next month. Members of the powerful committee voted 39 for and 19 against, with one abstention, the parliament said. A European Union action plan adopted in December ... more
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