Connect to share and comment

GE Oil & Gas to help develop technology for Mexico's oil industry

Mexico City, Apr 9 (EFE).- GE Oil & Gas, a unit of U.S. industrial giant General Electric Co., will work with the Mexican Petroleum Institute, or IMP, on the development of technologies to improve productivity at oil and gas fields in Mexico, state-owned oil giant Petroleos Mexicanos, or Pemex, said. The IMP and GE Oil & Gas signed an agreement Tuesday covering technology cooperation in the oil industry, Pemex said in a statement.

Libya not in full control of re-opened eastern port

By Julia Payne TRIPOLI (Reuters) - Libya's oil protection force is not in full control of the Zueitina port as some militiamen are still at the facility following a deal to end their blockade of eastern oil terminals, a Petroleum Facilities Guard spokesman said late on Tuesday. The port, along with the country's two largest, Es Sider and Ras Lanuf, has been under the control of an eastern federalist group led by former guard member Ibrahim al-Jathran, who recruited men from within his ranks.

Just because it's sweet and sticky doesn't mean it's 'honey': FDA

WASHINGTON (Reuters) - Honey mixed with sugar might be sweet, but it is not "honey." Food companies and other producers who add sweeteners to honey have to alert consumers by labeling their products as a "blend," the U.S. Food and Drug Administration said on Tuesday. Only manufactures that do not add sugar, corn syrup or other sweeteners should label their products as pure "honey," the FDA said in draft guidelines posted online.

Oil price 'fair' despite geopolitical factors

Kuwaiti Oil Minister Ali al-Omair said Monday that current oil prices are "fair" despite strong geopolitical factors impacting the region. OPEC member Kuwait is the world's fourth-largest oil exporter, pumping around 3.0 million barrels per day, of which at least 2.6 million bpd are exported in the form of crude oil and petroleum products. "There are geopolitical factors impacting oil prices... which are not only controlled by output levels and production capacity but also by political changes," Omair told reporters on the sidelines of the second Gulf Petroleum Forum.

Oil leak at S-Oil's Ulsan refinery extends three days

SEOUL/ULSAN, April 6 (Yonhap) -- An oil leak at a storage facility belonging to S-Oil Corp., South Korea's third largest refiner, continued for a third consecutive day Sunday, but was expected to be stopped before the end of the weekend, officials at Ulsan Metropolitan City Fire Department said. The leak began at about 3:30 p.m. on Friday after a mixer broke down in a tank storing 570,000 barrels of crude at the refiner's plant in Ulsan, a port city 410 kilometers southeast of Seoul, the officials said.

Greater tension could do systemic harm to Russian firms-Norilsk

By Silvia Antonioli LAUSANNE, Switzerland (Reuters) - Any worsening of tension between Moscow and the West that leads to stiffer sanctions would do systemic damage to Russian companies by deterring investors and making borrowing more difficult, a Norilsk Nickel executive said. Russia's annexation of Ukraine's Crimean peninsula has marked the biggest East-West crisis since the Cold War and prompted the United States and Europe to impose sanctions.

Copper price bounces on Chile quake; oil hit by Libya

Copper bounced this week on supply fears after a vast earthquake in top producer Chile, while Brent oil dived on the prospect of rebounding Libyan crude supplies, analysts said. Other commodities experienced mixed fortunes as investors digested Friday's broadly in-line non-farm payrolls data in the United States, which is a leading consumer of many raw materials. BASE METALS: The enormous earthquake in Chile sent copper jumping to a three-week peak, while supply risks also sent nickel racing to a one-year high.

Top toxic sites in Anadarko Petroleum settlement

Top toxic sites among thousands that are part of the $5.15 billion settlement with Anadarko Petroleum Corp. with approximate amount of funding for cleanup efforts and details about the sites, as provided by the Justice Department: —Henderson, Nev.: $1.118 billion for prospective cleanup costs. Groundwater at a former chemical manufacturing facility in Henderson, Nev., has been impacted by hexavalent chromium and perchlorate, a chemical used to produce rocket fuel, due to the since the 1940s. —Navajo Abandoned Uranium Mines: $985 million for prospective cleanup costs.

Exclusive: Boeing explores purchase of Mercury Systems - sources

By Nicola Leske and Mike Stone NEW YORK (Reuters) - Boeing Inc <BA.N> is considering buying Mercury Systems Inc <MRCY.O>, a supplier of digital signal and image processing systems to the aerospace and defense industry, according to two people familiar with the matter. Mercury, which has a market value of roughly $440 million, offers big data processing systems, software and services to companies including Boeing, Lockheed Martin Corp <LMT.N>, Northrop Grumman Corp <NOC.N> and Raytheon Co <RTN.N>.

Canada posts trade surplus in February

Canada posted Thursday a Can$290 million (US$263 million) trade surplus for the month of February as auto sales ticked up following extended holiday shutdowns at US and Canadian manufacturing plants. Exports grew 3.6 percent, outpacing a 2.1 percent rise in imports in the month, Statistics Canada said. The surplus follows a January deficit, which was revised downward by the government statistical agency to Can$337 million (US$306 million).
Syndicate content